Interim report
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Ja nuary 09, 2025 DGM – Corporate Relations BSE Limited. Phiroze Jeejeebhoy Towers Dalal Street Mumbai – 400 001 Scrip Code: 500408 The Listing Department National Stock Exchange of India Limited Exchange Plaza, Plot No. C-1, Block G Bandra – Kurla Complex, Bandra (East) Mumbai – 400 051 Scrip Code: TATAELXSI Dear Sirs / Madam, Sub: Audited Financial Re sults for the quarter and nine months ended December 31, 2024 P lease find enclosed, the audited financial results of the Company under IndAs for the quarter and nine months ended December 31, 2024, which have been approved and taken on record by the Board of Directors of the Company at their Meeting held today, January 09, 2025, at 11:30 a.m. (IST) and concluded at 03:55 p.m. (IST). The Auditors’ Report with unmodified opinion on the said financial statement is also attached he rewith. The aforesaid information is also available on the website of the Company www.tataelxsi.com. You are requested to please take the same on record. Yours faithfully, For Tata Elxsi Limited Cauveri Sriram Company Secretary & Compliance Officer Encl.: as above
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TATA ELX51 LIMITED CIN, LBS! 10KA1989PLC009968 Regd, Office: ITPB Road, Whitefield, Bengaluru • 560 048 ema1l:1nvestors@t.1taelxs1.com webs1te:www.tataelxs1.com STATEMENT OF AUDITED FINANCIAL RESULTS FOR THE QUARTER ANO YEAR TO DATE FOR THE PERIOD ENDED DECEMBER 31, 2024 l lukhs Particulars Quarter ended Year to date for the period from Year ended December 31, 2024 September 30, 2024 December 31, 2023 A1>rll 01, 2024 to A11ril O I, 2023 to March 31, 2024 December 3 t. 2024 December 3 t. 2023 I Income from operations (•J Revenue from operations 93,917.12 95,508.63 91,423.25 2,82,071.27 2,64,620.23 3,SS,214.S7 (bl Other income (net) 3 985.36 6,430.37 3493.00 13 624.0S 8 826.97 12 195.18 Total income rrom operations (net) 97 902,48 IO I 939.00 94 916.2S 2 95 695.32 2 73 447.20 3 67 409,75 2 Expenses (a) Cost of materials consumed 5,602.33 5,918.99 4,432.44 16,451.05 15,218.66 I 9,406.57 (b) Changes in inventories o( stock-In-trade 21.08 110.71 38.62 (72.09) (c) Employee benefits expense Sl.S24.87 51.507.28 49,577.23 l.S2.884,47 l.41.5S3.S2 1.90,959,56 (d) Finance costs 465.03 484.67 S55.28 1.439,02 1,528.81 2,026.07 (e) Oepreci,mon and amorusation expense 2,596.72 2,715.46 2,544.98 8,018.28 7,186.90 9,944.94 en Other expenses 12 128.65 11 441.63 10 377.92 36 096.24 29293.96 40 277.10 Total expenses 72 317.60 72 068,03 67 S08,93 2 14 999,77 19 4 820.47 2 62 542.15 3 Profit before tax ( 1·2) 25 584,88 29 870 97 27 407 32 80 695,55 78 626 73 10 48 67 60 4 Tax expense •J Current Iax 6,299.27 7,030.40 7.207,00 20,385.67 19,827.00 26,206.00 bl Deferred tax (615.031 (102.631 !442.921 (941.9S1 1730.621 !S62.191 Total tax 5 684.24 6 927.77 6 764,08 19 443.72 19 096,38 25 643.8 I 5 Net I>rofit for the period/ year (3•4) 19 900,64 22 943,20 20 643.24 61 251.83 59 530,35 79 223.79 6 Other comprehensive Income/ (los.ses) (i) Items that will not be reclaS5ified to profit or loss (52S.39) (341.88) (281.00) (697.61) (1,237.68) (1.533.S4) (ii) Income tax relating to items that will not be reclassified to 183.59 119.47 98.19 243.77 432.49 535,88 profit or loss Total other comprehensive income/(losses) (net of tax) !341.801 !222.411 !182.81 (453.84 (805,191 (997,66 7 Total comprehensive income (5+6) 19 558,84 22 720.79 20 460 43 60 797,99 58 725.16 78 226.13 8 Paid-up equity sh;ue cap1t.1\ (f:1ce value { 10/· e.tch) 6,228.33 6,227.96 6.227.M 6,228.33 6,227.64 6,227.64 9 Other equity 2,44,337.99 10 Earnings per share • Basic EPS {l) 31.9S 36.84 33.15 98.34 9S.59 127.21 - Diluted EPS {l} 31.94 36.83 33.14 98.33 95.58 127.18 AUDITED SEGMENT WISE REVENUE AND RESULTS ( lakhr Particulars Quarter ended Year to date ror the ocrlod from Year ended December 31, 2024 SeI>tember 30, 2024 December 31, 2023 April Ot, 2024 to April 01, 2023 to March 31, 2024 Oecember 3t,2024 December 31, 2023 I Segment revenue (a) Software development & services 91,867.56 92,717.17 88,916.71 2,74,584. I 0 2.S7,622.90 3,45,625.73 (b) System lntegrauon & support services 2 049.56 2 791.46 2 506.S4 7 487.17 6997.33 9 588.84 Tot.al 93 917.12 95 508,63 91 423.25 2 82 071.27 2 64 620.23 3 55 214,57 2 Segment results (•J Software development & services 31.946.59 35,015.57 33,936.75 99,671.44 96,773.09 1.27,733.57 (b) System Integration & support services 352.06 S07.13 366.46 1 379.27 I 172.24 2 452.16 Total 32,298.65 35,522.70 34,30 3,21 1,01,050,71 97,945.33 1,30,185.73 Less: Finance costs 465.03 484.67 S55.28 1,439.02 1,528.81 2,026.07 Less: Unallocable expenditure (net of unallocable income) 6 248,74 5 167.06 6 340.61 18 916.14 17 789.79 23 292.06 Pront before tax 25 584.88 29 870.97 27 407.32 80 695,55 78 626.73 I 04 867.60 Notes on segment Information Business segments The Company Is structured into two Industry verticals• software development & services and system integr,1tion & support services. Accordingly. the rnformation has been presented along these business segments. Assets and li.1bi\ities of the Comp,rny are used interchangeably amongst segments. Alloc.ttion of such assets and liabilities Is not practicable and any forced allocation would not result in any meaningful segregation. Hence. assets and liab1lit1es trnve not been identified to any of the reportable segments.
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TATA ELXSI LIMITED CIN: LBS I I OKJ\l 989PLC009'lbR Regd. Office: ITPB Road, Whitefield, Bengaluru. 560 048 email:investors@t.-1taelxs1.com website:www.tataelxs1.com STATEMENT OF AUDITED FINANCIAL RESULTS FOR THE UARTER AND VEAR TO OATE FOR THE PERIOD ENDED DECEMBER 3 l. 2024 Notes: I These results have been prepared in accordance with the Indian Accounting Standard (referred to :u Ind AS) 34 • lnternn Financml Reporting prescribed under Sectmn 133 of the Companies Act. 20 13 read with Companies (Indian Accountmg Standardsl Rules as amended from time to llfne. These results have been reviewed by the ,\uclit Commillee and approved by the Board of Directors .lt its meeting held on january 09, 2025. The statutory auditors have e'\pres.sed an unmodified audit opinion on these results. The e::trmng.s per sh;ue {basic and diluted) for the intemn periods have not been annua1iied. 3 The resotu of the Comp:my fort he quarter ended December 31. 2024 :ire ;1vailable on the Company's website www.tataeh::s1.com, on the BSE Lumted website www.bseindia.com and the National Stock Exchange oflndia Limited web.site - www.nse111d1a.com. 4 The comp;111y h;1s no Subsidiary, Associate or foint Venture comp,:my(1es), as on December 31, 2024 Bengaluru, lanuary 09. 2025 By Order of the Board for TATA ELXSI LIMITED Manoj Digitally sign� b Manoj R.aghavat'I Raghavan �:.;�;�2 :0�1;�? Manoj R:,ghavan Man:1ging Director DIN: 0008458315
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B S R & Co. LLP Chartered Accountants Embassy Golf Links Business Park Pebble Beach, B Block, 3rd Floor No. 13/2, off Intermediate Ring Road Bengaluru - 560 071, India Telephone: +91 80 4682 3000 Fax: +91 80 4682 3999 Registered Office: B S R & Co. (a partnership firm with Registration No. BA61223) converted into B S R & Co. LLP (a Limited Liability Partnership with LLP Registration No. AAB-8181) with effect from October 14, 2013 14th Floor, Central B Wing and North C Wing, Nesco IT Park 4, Nesco Center, Western Express Highway, Goregaon (East), Mumbai - 400063 Page 1 of 3 ’Independent Auditor s Report To the Board of Directors of Tata Elxsi Limited Report on the audit of the Interim Financial Results Opinion We have audited the accompanying quarterly financial results of Tata Elxsi Limited (“the Company”) for the quarter ended 31 December 2024 and the year-to-date results for the period from 01 April 2024 to 31 December 2024, attached herewith, being submitted by the Company pursuant to the requirement of Regulation 33 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended ("Listing Regulations"). In our opinion and to the best of our information and according to the explanations given to us, these financial results: a. are presented in accordance with the requirements of Regulation 33 of the Listing Regulations in this regard; and b. give a true and fair view in conformity with the recognition and measurement principles laid down in the applicable accounting standards, and other accounting principles generally accepted in India, of the net profit and other comprehensive loss and other financial information for the quarter ended 31 December 2024 as well as the year to date results for the period from 01 April 2024 to 31 December 2024. Basis for Opinion We conducted our audit in accordance with the Standards on Auditing (“SAs”) specified under section 143(10) of the Companies Act, 2013 (“the Act”). Our responsibilities under those SAs are further described in the Auditor’s Responsibilities for the Audit of the Financial Results section of our report. We are independent of the Company, in accordance with the Code of Ethics issued by the Institute of Chartered Accountants of India together with the ethical requirements that are relevant to our audit of the financial statements under the provisions of the Act, and the Rules thereunder, and we have fulfilled our other ethical responsibilities in accordance with these requirements and the Code of Ethics. We believe that the audit evidence we have obtained, is sufficient and appropriate to provide a basis for our opinion. Management’s and Board of Directors’ Responsibilities for the Financial Results These quarterly financial results as well as the year to date financial results have been prepared on the basis of the interim financial statements. The Company’s Management and the Board of Directors are responsible for the preparation of these financial results that give a true and fair view of the net profit/ loss and other comprehensive income and other financial information in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34, ‘Interim Financial Reporting’ prescribed under Section 133 of the Act read with relevant rules issued thereunder and other accounting principles generally accepted in India and in compliance with Regulation 33 of the Listing Regulations. This responsibility also includes maintenance of adequate accounting records in accordance with the provisions of the Act for safeguarding of the assets of the Company and for preventing and detecting frauds and other irregularities; selection and application of appropriate accounting policies; making judgments and estimates that are reasonable and prudent; and the design, implementation and maintenance of adequate internal financial controls, that were operating effectively for ensuring accuracy and completeness of the accounting records, relevant to the preparation and presentation of the financial results that give a true and fair view and are free from material
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B S R & Co. LLPIndependent Auditor’s Report(Continued)Tata Elxsi Limited Page 2 of 3 misstatement, whether due to fraud or error.In preparing the financial results, the Management and the Board of Directors are responsible for assessing the Company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Board of Directors either intends to liquidate the Company or to cease operations, or has no realistic alternative but to do so. The Board of Directors are also responsible for overseeing the Company’s financial reporting process.Auditor’s Responsibilities for the Audit of the Financial ResultsOur objectives are to obtain reasonable assurance about whether the financial results as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with SAs will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial results.As part of an audit in accordance with SAs, we exercise professional judgment and maintain professional skepticism throughout the audit. We also:– Identify and assess the risks of material misstatement of the financial results, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.– Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the company’s internal control.– Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures in the financial results made by the Management and Board of Directors.– Conclude on the appropriateness of the Management’s and Board of Directors’ use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the Company's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor’s report to the related disclosures in the financial results or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor’s report. However, future events or conditions may cause the Company to cease to continue as a going concern.– Evaluate the overall presentation, structure and content of the financial results, including the disclosures, and whether the financial results represent the underlying transactions and events in a manner that achieves fair presentation.We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.
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B S R & Co. LLPIndependent Auditor’s Report(Continued)Tata Elxsi Limited Page 3 of 3 We also provide those charged with governance with a statement that we have complied with relevant ethical requirements regarding independence, and to communicate with them all relationships and other matters that may reasonably be thought to bear on our independence, and where applicable, related safeguards.For B S R & Co. LLPChartered AccountantsFirm’s Registration No.:101248W/W-100022Ashish ChadhaPartnerBengaluruMembership No.: 50016009 January 2025UDIN:25500160BMLIIT6418