Tata Elxsi Limited Launches New Business Incubator According to BAC Report29 Aug 2013 • by Natalie Aster
LONDON – In order to solve the problem of constant need for skilled personnel, Tata Elxsi has set up a business incubator initiative - incub@TE. This new institution is placed to help other entrepreneurs set up their own businesses. The set-up time is 18 months, after which an attending businessman can start his own enterprise, equipped with solid knowledge. Tata will benefit from a 10% equity stake in the incubator. The Group will also utilize the opportunities of strategic cooperation with those new enterprises. Tata Elxsi plans to help 30 new companies start operating in the next three years.
Tata Elxsi delivers positive financial results, improving its position on the market despite challenging environment. In the financial year ended March 2013 the company registered revenue and gross profit of INR 6.3 B (up 15.4% YoY) and INR 5.5 B (up 20.5% YoY). Both operating and net income declined by 39.7% and 38.4%, respectively, and equaled INR 33.7 M and INR 213.1 M. Interim results show some improvement in the quarter ended June 2013 against previous periods. Revenue amounted INR 1.8 B, gross profit recorded INR 1.5 B, operating income scored INR 138.8 M, net income comprised INR 89.3 M. Europe was the main revenue bringer with 39% share in total company’s revenues. USA brought 31%, India scored 19%, Japan generated 8% and other countries added 3%. Software Development & Services segment contributed 82% of all revenues in the first quarter, the rest 18% were brought by System Integration & Support Services segment.
Founded in 1989 and headquartered in Bangalore (India), Tata Elxsi engages in development of design solutions for a variety of industries: Aerospace, Automotive, Broadcast, Defense and public safety, Healthcare, Media and entertainment, Networking and telecom, Retail and consumer goods, Semiconductor. The company maintains strong relationship with numerous technology partners and consortiums, suppliers and business incubators. Tata Elxsi is public and trades on National Stock Exchange of India under the ticker TELX.
Get more details on the company’s present activities, solutions, partners, business possibilities and experts’ forecasts from the report “Tata Elxsi Limited Fundamental Company Report Including Financial, SWOT, PESTEL, Competitors and Industry Analysis” recently published by Market Publishers Ltd.
Tata Elxsi Limited Fundamental Company Report Including Financial, SWOT, PESTEL, Competitors and Industry Analysis
Date: Aug, 2013
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