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Revenue
₹993.8 Cr
verification pending
Revenue YoY
—
reported change
EBITDA
Pending
latest reported figure
Source
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record provenance
Actual signal trajectory
Where this quarter sits.
Quarter read
What the record says.
Tata Elxsi reported Q4 FY26 revenue of ₹993.8 crore, growing 0.9% QoQ in constant currency, with EBITDA margin improving 130 bps sequentially to 24.6%. Transportation grew 2% QoQ, driven by OEM wins (now 77% of vertical revenue), while healthcare declined 13.1% due to delayed deal closures. Media & communication grew 5.6% on deal ramp-ups. Management guided for high single-digit growth in FY27 (down from earlier double-digit aspiration), citing geopolitical uncertainty and cautious client spending. Margin trajectory targets 27% exit margin by Q4 FY27 via operational efficiencies and AI adoption. Risk: healthcare recovery may slip further if deal closures continue to delay.
Colored figures show movement against the previous available record.
Guidance to track
- Management expects high single-digit revenue growth for FY27, down from earlier double-digit aspiration, due to geopolitical uncertainty and delayed deal closures.
- Management targets exiting FY27 with ~27% EBITDA margin, driven by operational efficiencies, utilization improvement, and AI adoption.
- Management expects healthcare vertical to recover in Q1 FY27 as delayed deals close, aiming for positive growth over Q2-Q3 combined.
Risks flagged
- Healthcare declined 13.1% QoQ due to deals slipping from Q4 to Q1; if closures continue to delay, recovery may be pushed further.
- Management cited geopolitical tensions as a factor reducing visibility and pushing growth expectations to high single digits.
- Analyst raised concern about AI deflation; management acknowledged some aggressive competitor pricing but said it's not widespread yet.
- Management noted that 10-15% of revenue runs off every quarter due to project completions, requiring constant refilling of the funnel.
Key quotes
- We are still not out of the woods in this particular industry segment.
- The real organic growth has been lacking if you ask me. Not very different. I think what's different for us is the fact that you'll see that consistent offshore track delivery.
- We are double clicking on value. I think what GenAI does coupled with domain expertise is that it allows you to move up the time to market and quality factors as much as cost.
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