Tata Elxsi (TATAELXSI) AGM 2024 summary

Opening remarks and agenda

• The 35th AGM was conducted via video conference, ensuring broad shareholder participation and compliance with regulatory directives.

• The meeting was chaired by Mr. N. G. Subramaniam, with all board members and key executives introduced and present, either in person or remotely.

• The notice and annual report were circulated in advance, and the appointment of proxies was dispensed with due to the virtual format.

Financial performance review

• Operating revenue for FY 2023/2024 reached INR 3,552.1 crore, marking a 13% year-on-year growth.

• EBITDA margin stood at 29.5% (INR 1,046.4 crore), with profit before tax at INR 1,048.7 crore and profit after tax at INR 792.2 crore.

• Transportation vertical contributed INR 1,723.9 crore (49.9% of software revenue), growing 20.4% YoY; media and communication contributed INR 1,217.5 crore (35.3%), and healthcare INR 484.9 crore (14%).

• System integration services revenue grew 18.6% to INR 99.3 crore.

Board and executive committee updates

• Mrs. Shyamala Gopinath retired from the board in June 2024; Mrs. Ashu Suyash and Mr. Soumitra Bhattacharya joined as independent directors, bringing diverse industry experience.