Tata Elxsi Limited

BSE:500408 Stock Report

Market Cap: ₹268.5b

Tata Elxsi Management

Management criteria checks 3/4

We currently do not have sufficient information about the CEO.

Key information

Manoj Raghavan

Chief executive officer

₹90.3m

Total compensation

CEO salary percentage26.63%
CEO tenure6.6yrs
CEO ownershipn/a
Management average tenure6.6yrs
Board average tenure6yrs

Recent management updates

Recent updates

Narrative Update • May 13

500408: Auto And Healthcare Alliances Will Support AI Mobility And Steady Outlook

Analysts have kept Tata Elxsi's fair value estimate steady at ₹4,314.07. They point to only minor tweaks in assumptions such as the discount rate, revenue growth, profit margin, and future P/E that do not materially alter their price target view.
Narrative Update • Apr 29

500408: Software Led Auto And Healthcare Alliances Will Support A Balanced Outlook

Analysts have trimmed their price target for Tata Elxsi from ₹4,896.93 to ₹4,314.07, citing slightly lower assumptions for revenue growth, profit margins and future P/E multiples. What's in the News JSW Motors and Tata Elxsi signed an MoU to create the JNEXT, JSW NextGen Technology Center in Pune, focused on software defined, AI powered solutions for connected and electrified vehicles, with Tata Elxsi owning the connected vehicle platform and customer app end to end (Key Developments).
Narrative Update • Apr 14

500408: New Auto Software Alliances Will Test Stretched Future Earnings Multiple

Analysts have trimmed their price target for Tata Elxsi from ₹3,700 to ₹3,400, citing updated assumptions around the discount rate, revenue growth, profit margin and forward P/E as key drivers of the revised view. What's in the News Tata Elxsi has scheduled a board meeting for Apr 21, 2026 to consider audited financial results for the quarter and year ended Mar 31, 2026 and to recommend a dividend, if any, on equity shares for the financial year ended Mar 31, 2026 (company filing).
Narrative Update • Mar 31

500408: New Auto Software Alliances Will Test Fairly Priced Future Earnings Multiple

Analysts have reduced the fair value estimate for Tata Elxsi from ₹4,200 to ₹3,700, reflecting updated views on discount rates, revenue growth, profit margins, and a lower future P/E multiple. What's in the News Tata Elxsi and Terumo Corporation inaugurated the Terumo Tata Elxsi Offshore Development Center to support development of cardiac and vascular solutions, combining design, engineering, regulatory and AI capabilities for global markets (Key Developments).
Narrative Update • Mar 17

500408: Software Defined Vehicle Partnerships Will Support A Stronger Profit Outlook

Analysts have raised their price target for Tata Elxsi from ₹4,663.19 to ₹4,896.93, citing revised assumptions for revenue growth, profit margins, discount rate and future P/E as the main factors behind the change. What's in the News Tata Elxsi launched DevStudio.ai, an automotive multi agent solution designed to support the entire ASPICE aligned software development lifecycle for OEMs, system suppliers, and semiconductor companies, with deployment options across cloud and air gapped on premise environments (Product related announcement).
Narrative Update • Mar 03

500408: New Auto Software Partnership Will Test Rich Future Earnings Multiple

Analysts have lifted their price target on Tata Elxsi from ₹4,000 to ₹4,200, citing updated assumptions around slightly higher revenue growth, stronger profit margins, a lower discount rate, and a modestly reduced future P/E multiple. What's in the News Autolink and Tata Elxsi signed a Memorandum of Understanding at CES 2026 to form a long term partnership focused on Software Defined Vehicle development for global OEMs, combining hardware platforms, E/E architectures, software engineering, and system integration (Key Developments).
Narrative Update • Feb 17

500408: Software Defined Vehicles Partnership Will Drive Future Re Rating

Analysts have trimmed their fair value estimate for Tata Elxsi slightly from about ₹6,206 to ₹6,203, reflecting refreshed assumptions around discount rates, revenue growth, profit margins, and future P/E levels. What's in the News Autolink signed a Memorandum of Understanding with Tata Elxsi at CES 2026 to work together on Software Defined Vehicle development for global automakers, combining Autolink's hardware and E/E architecture strengths with Tata Elxsi's SDV software expertise and AVENIR SDV framework (Client announcement).
Narrative Update • Feb 03

500408: Mobility Software And Rural Health Partnerships Will Drive Future Re Rating

Analysts have nudged their price target for Tata Elxsi slightly higher, with the updated view reflecting modest tweaks to assumptions on discount rate, revenue growth, profit margin and forward P/E. These adjustments keep their estimate of fair value steady at ₹6,206.27.
Narrative Update • Jan 19

500408: Long Term Mobility Software Partnerships Will Support A Re Rating

The analyst fair value estimate for Tata Elxsi has increased from ₹5,700 to about ₹6,206. Analysts attribute the new target to updated assumptions for revenue growth, profit margins, and future P/E multiples as the key drivers behind the change.
Narrative Update • Jan 05

500408: New Tech Partnerships May Fail To Justify Rich Earnings Multiple

Analysts have maintained their fair value estimate for Tata Elxsi at ₹4,000.00 per share. They cite only minor adjustments to the discount rate, expected revenue growth, profit margin and future P/E assumptions, rather than any change in their overall view.
Narrative Update • Dec 14

500408: Higher Revenue Expectations May Fail To Offset Margin Pressure

Narrative Update on Tata Elxsi Analysts have raised their fair value estimate for Tata Elxsi from ₹3,800 to ₹4,000. This reflects improved expectations for revenue growth, despite slightly lower margin assumptions and a modestly higher future price to earnings multiple.
Narrative Update • Sep 05

Automotive Challenges And Media Deals Will Shape Future Dynamics

With both the discount rate and future P/E remaining stable, Tata Elxsi’s consensus analyst price target was unchanged at ₹4663. What's in the News Tata Elxsi and Suzuki Motor Corporation inaugurated the SUZUKI-TATA ELXSI Cloud HIL Center in Trivandrum to enable cloud-based, full-vehicle simulation and validation, accelerating SDV development and deepening their engineering partnership.
User avatar
New Narrative • Dec 11

Next-gen Mobility Innovations And Qualcomm RDK Broadband Launch Fuel Global Growth

Tata Elxsi's focus on transportation and innovation centers strengthens growth prospects in ADAS, electric vehicles, and robotics.

CEO Compensation Analysis

How has Manoj Raghavan's remuneration changed compared to Tata Elxsi's earnings?
DateTotal CompensationSalaryCompany Earnings
Mar 31 2026n/an/a

₹6b

Dec 31 2025n/an/a

₹6b

Sep 30 2025n/an/a

₹7b

Jun 30 2025n/an/a

₹7b

Mar 31 2025₹90m₹24m

₹8b

Dec 31 2024n/an/a

₹8b

Sep 30 2024n/an/a

₹8b

Jun 30 2024n/an/a

₹8b

Mar 31 2024n/an/a

₹8b

Dec 31 2023n/an/a

₹8b

Sep 30 2023n/an/a

₹8b

Jun 30 2023n/an/a

₹8b

Mar 31 2023₹80m₹22m

₹8b

Dec 31 2022n/an/a

₹7b

Sep 30 2022n/an/a

₹7b

Jun 30 2022n/an/a

₹6b

Mar 31 2022₹65m₹17m

₹5b

Dec 31 2021n/an/a

₹5b

Sep 30 2021n/an/a

₹5b

Jun 30 2021n/an/a

₹4b

Mar 31 2021₹44m₹14m

₹4b

Dec 31 2020n/an/a

₹3b

Sep 30 2020n/an/a

₹3b

Jun 30 2020n/an/a

₹3b

Mar 31 2020₹25m₹3m

₹3b

Compensation vs Market: Manoj's total compensation ($USD943.48K) is above average for companies of similar size in the Indian market ($USD632.95K).

Compensation vs Earnings: Manoj's compensation has been consistent with company performance over the past year.

CEO

Manoj Raghavan (54 yo)

6.6yrs
Tenure
₹90,277,000
Compensation

Mr. Manoj Raghavan has been Managing Director, Chief Executive Officer and Director at Tata Elxsi Limited since October 2, 2019 and served as its Executive Vice President and Head of The Embedded Product D...

Leadership Team

NamePositionTenureCompensationOwnership
Manoj Raghavan
MD, CEO & Director6.6yrs₹90.28mno data
Gaurav Bajaj
Chief Financial Officer4.8yrsno datano data
Sneha V
Company Secretary & Compliance Officerless than a yearno datano data
Pai Nitin
CMO & Chief Strategy Officer11.8yrs₹2.57mno data
Vasant Shah
Global Head of Business Finance14.3yrs₹2.75mno data
Nick Talbot
Global Head of Design & Innovationno datano datano data
Sajiv Madhavan
Chief Risk & Sustainability Officerno datano datano data
Bhaskar Dutt
Global Head of Strategic Relationsno datano datano data
Narendra Ghate
Chief Designerno datano datano data
Rajesh Kumar
Vice President of Strategic Initiativesno data₹6.27mno data
6.6yrs
Average Tenure
57yo
Average Age

Experienced Management: 500408's management team is seasoned and experienced (6.6 years average tenure).

Board Members

NamePositionTenureCompensationOwnership
Manoj Raghavan
MD, CEO & Director6.6yrs₹90.28mno data
Ganapathy Natarajan
Non-Independent & Non-Executive Chairman of the Board11.5yrs₹480.00kno data
Ankur Verma
Non Executive Non-Independent Director7.8yrs₹360.00kno data
Soumitra Bhattacharya
Independent Non-Executive Director2.1yrs₹14.02mno data
Ashu Suyash
Independent Non-Executive Director2.1yrs₹10.65mno data
Anurag Kumar
Independent Non-Executive Director5.5yrs₹13.79mno data
6.0yrs
Average Tenure
61.5yo
Average Age

Experienced Board: 500408's board of directors are considered experienced (6 years average tenure).

Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2026/05/23 12:59
End of Day Share Price 2026/05/22 00:00
Earnings2026/03/31
Annual Earnings2026/03/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

Tata Elxsi Limited is covered by 25 analysts. 14 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Pulkit Chawla360 ONE Capital Market Private Limited
Nitin BhasinAmbit Capital
Ashwin MehtaAmbit Capital