Tata Investment Corporation earnings calls.

Tata Elxsi delivered steady Q3 FY25 results with INR 939.2 croresCurrent reported value: INR 939.2 crores. No comparable prior figure is available in the source record. in revenue amid a seasonally weak quarter. EBITDA margins at 26.3%Current reported value: 26.3%. No comparable prior figure is available in the source record. were impacted by full salary increase cycle (100bps headwind) and adverse currency movements in GBP, EUR, and JPY (140bps impact), partially offset by operational efficiencies. Transportation segment showed 0.5% QoQ CC growth as European OEM headwinds offset gains from Japan and emerging markets (+66.8%Current 66.8%. Reported change: +66.8% YoY. YoY). OEM revenue mix increased to 72%Current 72%. Reported change: +500bps QoQ. from 67%, reflecting Tier-1 supplier challenges. Media/communications and healthcare showed early recovery with 0.4% and 1.1% QoQ growth respectively. Management acknowledged FY25 will be a "soft year" with difficulty exiting above FY24 growth levels, though Q4Current reported value: 4. No comparable prior figure is available in the source record. will see ramp-ups from Suzuki ODC and large media deal wins. Near-term margin guidance of 25-26% expected as wage hike cycle completes and billability improves. Key risks include prolonged European automotive weakness, geopolitical uncertainty, and currency volatility.