Tata Technologies to announce Q3 results on January 25, a first since listing
Tata Technologies, a marquee entrant to the bourses in recent times, will announce its quarterly results for the first time since listing on January 25.
«A meeting of the Board of Directors of Tata Technologies is scheduled to be held on January 25, 2024, to consider and approve the audited standalone and consolidated financial results for the quarter ended December 2023,» the company said in a filing.
For the six months ended September period, the company's total income rose 35% year-on-year (YoY) to Rs 2,587 crore and net profit was up 36% to Rs 352 crore in the same period.
The company derives significant revenues from its top 5 clients (73% in FY23) including Tata Motors. Over FY 21-23, Tata Tech's revenue, EBITDA, and net profit grew at a CAGR of 36.2%, 45.9% and 61.5%, respectively.
Return ratios – RoE and RoIC improved by 971 bps (to 20.9%) and 308 bps (to 36.3%) in FY23.
The IPO from the Tata Group company was lapped up by investors with overwhelming interest.
The stock jumped 180% on debut, ranking it among the best listings seen in the last two years.
Tata Technologies is a pure-play manufacturing-focused engineering research and development (ER&D) company, primarily focused on the automotive industry.
They are currently engaged with 7 out of the top 10 automotive ER&D spenders and 5 out of the 10 prominent new energy ER&D spenders in 2022. It generates 80% from services, 11% from products, and 9% from education as of FY23.
Some of the key strengths of the company include differentiated capabilities in new-age automotive trends like electric vehicles, deep expertise in the automotive industry, a global delivery model that enables intimate client engagement and scalability among others.
The company's
