Scripscan:Tata Elxsi Ltd
cmp:190
Code:500408
Story:Bangalore-based Tata Elxsi is a niche player in the technical design segment. It offers embedded product design and industrial design solutions. It also provides animation and visual effects services and systems integration.Despite increasing opportunities across most of the business segments, Tata Elxsi has not been able to register impressive growth over the last four years. The company''s revenue has not budged much from the 400-crore level while profits at the operating and net level have declined during the period. The erratic change in its sales and profits reflects the lumpy nature of its business.Tata Elxsi''s stock has lost 26% in the last one year. Its trailing twelve months P/E works out to be 18.8, which is on the higher side when compared to the P/E range of 6-10 for IT companies of similar size. The premium valuation could be attributed to its exposure to the fast-growing animation industry. However, the company''s performance so far does not instill confidence. Investors need to wait until there is some stability in its growth trajectory.
Source:I.G
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