Tata Elxsi Limited — Investor Meet, 15-10-2025: Analysts/Institutional Investor Meet/Con. Call Updates

Tata Elxsi reported Q2 FY26 operating revenue of INR 918.1 Cr, up 1% QoQ in constant currency. EBITDA was INR 193.3 Cr (21.1% margin), PBT INR 214.7 Cr (22.2%). U.S. market grew 7.9% QoQ. Margins saw a 20 bps operating uptick, with utilization improving to over 70%. Transportation business grew 0.7%, driven by strong SDV programs and new deals like Suzuki's second engineering center. Healthcare declined 2.3%, but a multi-year Bayer deal provides stability. Media & Communication grew 6.8% aided by large deal ramp-ups. Management expects H2 FY26 to be significantly better than H1, targeting double-digit growth for Automotive and Healthcare in FY27. Sentiment is confident on future growth and margin recovery.