Tata Elxsi Q4 FY26 Revenue Flat, Margins Improve 130bps

Tata Elxsi reported Q4 FY26 revenue of INR 993.8 Cr, a marginal 0.9% QoQ CC growth, with EBITDA margin improving 130bps to 24.6%.
Management held an earnings call to discuss results, highlighting strategic wins in transportation and media, while healthcare declined 13.1% QoQ due to delayed deals.
The company provided FY27 guidance, targeting an exit PBT margin of ~27% and higher single-digit revenue growth, down from prior double-digit aspirations.
Key themes included GenAI adoption, a strategic pivot to OEM clients (77% of transport revenue), and operational focus on fixed-price contracts and offshore delivery.