Tata Elxsi Limited — Investor Meet, 20-01-2026: Analysts/Institutional Investor Meet/Con. Call Updates

Tata Elxsi reported healthy Q3 FY26 results with revenue up 3.2% QoQ (constant currency). EBITDA margin improved 220 bps to 23.3%, driven by better utilization and cost discipline, despite a 110 bps impact from junior staff wage hikes. The transportation business surged 7.7% QoQ, fueled by ramp-ups in SDV-led deals and normalization with a strategic OEM. Media & Communications saw a marginal decline but expects a Q4 recovery, alongside Healthcare which bottomed out in Q3 with new GenAI-powered wins. Management is confident in growth momentum, targeting 80-85% utilization and aiming for double-digit growth in transportation and healthcare in FY27. They emphasize leveraging AI and a strong value proposition to navigate macro headwinds and diversify customer/geographic risk.