Tata Elxsi Ltd — Annual Report 2021

Apr 22, 2021

April 22, 2021

DGM – Corporate Relations The Listing Department Bombay Stock Exchange Ltd. National Stock Exchange Phiroze Jeejeebhoy Towers Exchange Plaza Dalal Street Plot No. C-1, Block G Mumbai – 400 001 Bandra – Kurla Complex

Bandra (East) Mumbai – 400 051

Dear Sir,

Audited Financial Results for the quarter and year ended March 31, 2021 and recommendation of dividend.

Please find enclosed the audited financial results of the Company in the prescribed format for the quarter and year ended March 31, 2021 under Ind As, which were approved by the Board of Directors of the Company at their Meeting held today.

The Auditors' Report with unmodified opinion on the said financial statement is also attached herewith.

Further we are pleased to inform that the Board of Directors has recommended the below dividends on Equity shares of Rs. 10 each of the Company, subject to approval of the members at the forthcoming Annual General Meeting:

• i. Final Dividend of 240 % at Rs. 24 per share for the year 2020-21, subject to tax.
• ii. One-time Special Dividend of 240 % at Rs. 24 per share, subject to tax.

You are requested to please take the same on record and confirm.

Yours Faithfully For Tata Elxsi Limited G VAIDYANATHAN Digitally signed by G VAIDYANATHAN Date: 2021.04.22 18:23:44

+05'30'

G Vaidyanathan General Counsel & Company Secretary Encl: a/a

TATA ELXSI LIMITED

CIN: L85110KA1989PLC009968 Regd. Office: ITPB Road, Whitefield, Bengaluru - 560 048

email:investors@tataelxsi.com www.tataelxsi.com

STATEMENT OF AUDITED FlNANCIAL RESULTS FOR THE QUARTER AND YEAR ENDED MARCH 31, 2021

						t /akhs
	Particulars	Quarter ended			Year ended
		Mar 31, 2021	Dec 31, 2020	Mar 31, 2020	Mar31,2021	Mar31,2020
	Income from operations
	(a) Revenue from operations	51,839.58	47,709.71	43,888.54	1,82,615.97	1,60,986.04
	(b) Other income (Refer note 2 below)	682.42	1,508.50	1,338.93	3,976.52	5,841.25
	Total income from operations (net)	52,522.00	49,218.21	45,227.47	1,86,592.49	1,66,827.29
	Expenses
	(a) Cost of materials consumed	3,089.47	2,182.95	2,143.60	8,539.21	8,112.51
	(b) Changes in inventories of stock-in-trade	(6.29)		(87.22)	164.91	(4.97)
	(c) Employee benefits expense	26,483.79	26,283.70	25,379.10	1,02,452.34	95,086.76
	(d) Finance costs	189.72	134.78	144.28	593.19	556.26
	(e) Depreciation and amortisation expense	1,129.83	1,105.29	1,078.82	4,438.09	4,341.34
	(f) Other expenses	5,468.35	4,882.03	5,592.92	19,218.08	23,491.35
	Total expenses	36,354.87	34,588.75	34,251.50	1,35,405,82	1,31,583.25
	Profit before tax (1-2)	16,167.13	14,629.46	10,975.97	51,186.67	35,244.04
	Tax expense
	a) Current tax	4,240.00	4,324.00	2,579.00	14,320.00	9,513.00
	b) Deferred tax	410.26	(214.65)	188.80	54.48	121.03
	Total tax	4,650.26	4,109.35	2,767.80	14,374.48	9,634.03
	Net profit for the period/year (3-4)	11,516.87	10,520.11	8,208.17	36,812.19	25,610.01
	Other comprehensive incomef(loss)
	(i) items that will not be reclassified to profit or loss	(138.09)	(212.77)	(276.51)	(496.44)	(655.41)
	(ii) Income tax relating to items that will not be reclassified to profit or loss	48.26	74.35	96.63	173.48	229.03
	Total other comprehensive incomef(loss), net of income tax	(89.83)	(138.42)	(179.88)	(322.96)	(426.38)
7	Total comprehensive income (5+6)	11,427.04	10,381.69	8,028.29	36,489.23	25,183.63
8	Paid-up equity share capital (face value t 10/- each)	6,227.64	6,227.64	6,227.64	6,227.64	6,227.64
9	Other equity				1,28,989.51	1,02,775.89
10	Earnings per share
	-Basic EPS (�	18.49	16.89	13.18	59.11	41.12
	- Diluted EPS (�	18.49	16.89	13.18	59.11	41.12

AUDITED SEGMENT WISE REVENUE AND RESULTS

	t lak/,s
Particulars		Quarter ended			Year ended
			Mar 31, 2021	Dec31, 2020	Mar31, 2020	Mar31,2021	Mar31,2020
		Segment revenue
		(a) Software development & services	50,480.45	46,592.04	42,782.30	1,78, 167.42	1,56,278.24
		(b) System integration & support services	1,359.13	1,117.67	1,106.24	4,448.55	4,707.80
		Total	51,839.58	47,709.71	43,888.54	1,82,615.97	1,60,986.04
2		Segment results
		(a) Software development & services	17,137.46	15,773.92	11,962.09	55,179.02	40,963.38
		{b) System integration & support services	347.24	37.50	123.77	364.81	592.82
		Total	17,484.70	15,811.42	12,085.86	55,543.83	41,556.20
		Less: Finance costs	189.72	134.78	144.28	593.19	556.26
		Less: Unallocable expenditure (net of unallocable income)	1,127.85	1,047.18	965.61	3,763.97	5,755.90
		Profit before tax	16,167.13	14,629.46	10,975.97	51,186.67	35,244.04
		i) Segment assets
		(a) Software development & services	63,783.04	63,706.24	69,035.66	63,783.04	69,035.66
		(b} System integration & support services	1,448.29	1,243.90	1,371.74	1,448.29	1,371.74
		(c) Unallocable assets	1,06,437.93	94,329.06	68,490.74	1,06,437.93	68,490.74
		Total	1,71,669.26	1,59,279.20	1,38,898.14	1,71,669.26	1,38,898.14
		ii) Segment liabilities
		(a) Software development & services	26,957.63	24,469.79	22,168.44	26,957.63	22,168.44
		(b) System integration & support services	651.34	781.43	747.63	651.34	747.63
		(c) Unallocable liabilities	8,843.14	10,237.87	6,978.54	8,843.14	6,978.54
		Total	36,452.11	35,489.09	29,894.61	36,452.11	29,894.61

Notes on segment information

Business segments

The company is structured into two industry verticals- software development & services and system integration & support services. Accordingly, the information has been presented along these business segments.

TATA ELXSI LIMITED CIN: L85110KA1989PLC009968

Regd. Office: ITPB Road, Whitefield, Bengaluru - 560 048

email:investors@tataelxsi.com
STATEMENT OF AUDITED FINANCIAL RESULTS FOR THE QUARTER AND YEAR ENDED MARCH 31, 2021

AUDITED BALANCE SHEET AS AT MARCH 31, 2020

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	As at	As at
Particulars	Mar 31, 2021	Mar 31, 2020
ASSETS
Non-current assets
(a) Property, plant and equipment	8.600.59	8,229.25
(b) Capital work-in-progress	726.73
(c) Right of use assets	6,509.42	5,183.27
(d) Intangible assets	1,855.22	1,293.49
(e) Financial assets
(i) Investments *
(ii) Loans receivable	2,039.96	1,682.70
(iii) Others	10,200.00
(f) Deferred tax assets (net)	995.83	876.83
(g) Other non-current assets	209.39	341.20
(h) Tax assets (net)	1,395.19	1,079.83
Total non-current assets	32,532,33	18,777.88
Current assets
(a) Inventories	6.29	171.20
(b) Financial assets
(i) Trade receivables	40,225.83	39,238.07
(ii) Cash and cash equivalents	10,041.73	22,842.45
(iii) Other bank balances	75,920.25	43,580.02
(iv) Loans receivable	90.51
(v) Other financial assets	7,366.55	8,440.70
(c) Other current assets	5,485.77	5,758.45
Total current assets	1,39,136.93	1,20,120.26
TOTAL ASSETS	1,71,669.26	1,38,898.14
EQUITY AND LIABILITIES
Equity
(a) Equity share capital	6,227.64	6,227.64
(b) Other equity	1,28,989.51	1,02,775.89
Total equity	1,35,217.15	1,09,003.53
Liabilities
Non-current liabilities
(a) Financial liabilities
(i) Lease liabilities	6,045.69	4,501.39
(b) Provisions	3,960.00	3,655.98
Total non-current liabilities	10,005.69	8,157.37
Current liabilities
(a) Financial liabilities
(i) Lease liabilities	1,275.30	1,325.66
(ii) Trade payables
a) Dues of micro, small and medium enterprises
b) Dues of creditors other than micro, small and medium enterprises	5,613.07	4,713.20
(iii) Other financial liabilities	5,359.80	4,669.41
(b) Other current liabilities	8,305.35	7,649.87
(c) Provisions	1,258.69	1,006.42
(d) Current tax liabilities (net)	4,634.21	2,372.68
Total current liabilities	26,446.42	21,737.24
	1,71,669.26	1,38,898.14

COME I WAS CONTRACTOR

TATA ELXSI LIMITED

CIN: L85110KA1989PLC009968
Regd. Office: ITPB Road, Whitefield, Bengaluru - 560 048

email:investors@tataelxsi.com
email:investors@tataelxsi.com
STATEMENT OF AUDITED FINANCIAL RESULTS FOR THE QUARTER AND YEAR ENDED MARCH 31, 2021

	STATEMENT OF CASH FLOW		₹ laklıs
	For the year ended For the year ended
		March 31, 2021	March 31, 2020
А.	Cash flows from operating activities
	Profit for the year	36,812.19	25.610.01
	Adjustment for:
	Income tax expense recognised in profit and loss	14,374.48	9,634.03
	Depreciation and amortisation	4,438.09	4,341.34
	Interest income recognised in profit and loss	(2,901.42)	(3,311.14)
	Finance costs	593.19	556.26
	Bad debts written off	669.31	31.08
	Provision for doubtful debts	498.51	227.77
	Loss/(Profit) on sale of assets	1.43	(2.72)
	Net (gain) / loss arising on financial assets mandatorily measured at
	fair value through profit and loss	(386.73)	631.24
	Net unrealised exchange loss / (gains)	797.66	(1, 202.74)
	Operating profit before working capital changes	54,896.71	36,515.13
	Movement in working capital:
	Adjustments for (increase) / decrease in operating assets:
	Loans receivables	(1.14)	(13.54)
	Unbilled revenue	1,470.63	(2,513.12)
	Other financial assets	(15.73)	(506.39)
	Other assets	224.60	1,390.65
	Inventories	164.91	(4.97)
	Trade receivables	(2,738.90)	(3, 156.66)
	Adjustments for increase / (decrease) in operating liabilities:
	Provisions	556.29	2,584.88
	Trade payables	878.28	(890.27)
	Other financial liabilities	517.71	289.16
	Other current liabilities	159.04	849.23
	Cash generated from operations	56,112.40	34,544.10
	Income tax paid (net)	(12, 373.83)	(8,967.77)
	Net Cash generated from operating activities - (A)	43,738.57	25,576.33
B.	Cash flows from investing activities
	Purchase of property, plant and equipment and intangibles	(3,883.97)	(2,310.76)
	Proceeds from sale of property, plant and equipment and intangibles	0.60	21.91
	Movement in fixed deposits, net	(42, 440.03)	2,699.97
	Interest received	2,550.14	3,487.31 3,898.43
	Net Cash(used in)/ generated from investing activities - (B)	(43,773.26)
C.	Cash flows from financing activities	(2,370.57)	(2, 235.80)
	Payment of lease liability	(10, 275.61)	(10, 135.47)
	Dividend including dividend tax paid	(12, 646.18)	(12, 371.27)
	Net Cash used in financing activities - (C)
	Net (decrease) / increase in cash and cash equivalents (A+B+C)	(12,680.87)	17,103.49
	Cash and cash equivalents as at beginning of the year	22,842.45	5,371.04
	Effects of exchange rate changes on the balances of cash and cash
	equivalents held in foreign currencies	(119.85)	367.92
	Cook and sook caujustants as at and of the year	10.041.73	22.842.45

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TATA ELXSI LIMITED CIN: L85110KA1989PLC009968

Regd. Office: ITPB Road, Whitefield, Bengaluru - 560 048

email:investors@tataelxsi.com www.tataelxsi.com STATEMENT OF AUDITED FINANCIAL RESULTS FOR THE QUARTER AND YEAR ENDED MARCH 31, 2021

Notes:

These results have been prepared on the basis of the audited financial statements for the year ended March 31, 2021 and the audited interim financial results up to the end of the third quarter, which are prepared in accordance with the Ind AS notified under Companies (Indian Accounting Standards) Rules 2015. These results have been reviewed by the Audit Committee and approved by the Board of Directors at its meeting held on April 22, 2021. The statutory auditors have expressed an unmodified audit opinion on these results. The annual financial results include the results for the quarter ended 31 March 2021 being the balancing figure between the audited figures in respect of the full financial year and the published audited year to date figures up to the third quarter of the current financial year

2 Other income includes:
Ouarter ended		Year ended
	Mar 31, 2021	Dec 31, 2020	Mar 31, 2020	Mar 31, 2021	Mar 31, 2020
Exchange gain / (loss)	(396.51)	744.62	276.47	609.33	1,290.11

Dividend at ₹24 per share (subject to tax) and a special dividend of ₹24 per share (subject to tax) for the financial year 2020-21 has been recommended by the Board of 3 Directors

4 The Board of Directors of the Company at their meeting held on October 14, 2020 have approved the alteration to the Articles of Association of the Company. The same has been approved by the shareholders through a special resolution passed vide postal ballot effective December 1, 2020, where in, Tata Sons Private Limited shall have the right to nominate 1/3rd (one third) of the total number of Directors (including the Chairman) on the Board. Consequently, considering the requirement of IND AS 110, Consolidated Financial Statements, the Company has become a Subsidiary of Tata Sons Private Limited effective December 1, 2020

5 The results of the Company for the quarter and year ended March 31, 2021 are available on the Company's website - www.tataelxsi.com

By Order of the Board
for TATA ELXSI LIMITED

Raghavan Managing Director DIN 0008458315

Bengaluru, April 22, 2021

B S R & Co. LLP

Chartered Accountants

Embassy Golf Links Business Park, Pebble Beach, B Block, 3rd Floor, Off Intermediate Ring Road, Bangaluru-560 071 India

Telephone: + 91 80 4682 3000 Fax: + 91 80 4682 3999

INDEPENDENT AUDITORS' REPORT

TO THE BOARD OF DIRECTORS OF TATA ELXSI LIMITED

Report on the audit of the Annual Financial Results

Opinion

We have audited the accompanying annual financial results of Tata Elxsi Limited (hereinafter referred to as the ''Company") for the year ended 31 March 2021, attached herewith, being submitted by the Company pursuant to the requirement of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended ('Listing Regulations').

In our opinion and to the best of our information and according to the explanations given to us, the aforesaid annual financial results:

• a. are presented in accordance with the requirements of Regulation 33 of the Listing Regulations in this regard; and
• b. give a true and fair view in conformity with the recognition and measurement principles laid down in the applicable Indian Accounting Standards, and other accounting principles generally accepted in India, of the net profit and other comprehensive income and other financial information for the year ended 31 March 2021.

Basis for Opinion

We conducted our audit in accordance with the Standards on Auditing ("SAs") specified under section 143(10) of the Companies Act, 2013 ("the Act"). Our responsibilities under those SAs are further described in the Auditor's Responsibilities for the Audit of the Annual Financial Results section of our report. We are independent of the Company, in accordance with the Code of Ethics issued by the Institute of Chartered Accountants of India together with the ethical requirements that are relevant to our audit of the Ind AS financial statements under the provisions of the Act, and the Rules thereunder, and we have fulfilled our other ethical responsibilities in accordance with these requirements and the Code of Ethics. We believe that the audit evidence we have obtained, is sufficient and appropriate to provide a basis for our opinion on the annual financial results

Management's and Board of Directors' Responsibilities for the Annual Financial Results

These annual financial results have been prepared on the basis of the Ind AS annual financial statements.

The Company's Management and the Board of Directors are responsible for the preparation and presentation of these annual financial results that give a true and fair view of the net profit/ loss and other comprehensive income and other financial information in accordance with the recognition and measurement principles laid down in Indian Accounting Standards prescribed under Section 133 of the Act and other accounting principles generally accepted in India and in compliance with Regulation 33 of the Listing Regulations.

Principal Office:

B S R & Co. LLP

INDEPENDENT AUDITORS' REPORT (Continued)

Management's and Board of Directors' Responsibilities for the Annual Financial Results (continued)

This responsibility also includes maintenance of adequate accounting records in accordance with the provisions of the Act for safeguarding of the assets of the Company and for preventing and detecting frauds and other irregularities; selection and application of appropriate accounting policies; making judgments and estimates that are reasonable and prudent; and the design, implementation and maintenance of adequate internal financial controls, that were operating effectively for ensuring accuracy and completeness of the accounting records, relevant to the preparation and presentation of the annual financial results that give a true and fair view and are free from material misstatement, whether due to fraud or error.

In preparing the annual financial results, the Management and the Board of Directors are responsible for assessing the Company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Board of Directors either intends to liquidate the Company or to cease operations, or has no realistic alternative but to do so.

The Board of Directors is responsible for overseeing the Company's financial reporting process

Auditor's Responsibilities for the Audit of the Annual Financial Results

Our objectives are to obtain reasonable assurance about whether the annual financial results as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with SAs will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these annual financial results.

As part of an audit in accordance with SAs, we exercise professional judgment and maintain professional skepticism throughout the audit. We also:

• Identify and assess the risks of material misstatement of the annual financial results, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.
• Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances. Under Section 143(3) (i) of the Act, we are also responsible for expressing our opinion through a separate report on the complete set of financial statements on whether the company has adequate internal financial controls with reference to financial statements in place and the operating effectiveness of such controls.
• Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures in the financial results made by the Management and Board of Directors.

B S R & Co. LLP

INDEPENDENT AUDITORS' REPORT (Continued)

Auditor's Responsibilities for the Audit of the Annual Financial Results (Continued)

• Conclude on the appropriateness of the Management and Board of Directors use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the appropriateness of this assumption. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor's report to the related disclosures in the annual financial results or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor's report. However, future events or conditions may cause the Company to cease to continue as a going concern
• Evaluate the overall presentation, structure and content of the annual financial results, including the disclosures, and whether the annual financial results represent the underlying transactions and events in a manner that achieves fair presentation.

We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.

We also provide those charged with governance with a statement that we have complied with relevant ethical requirements regarding independence, and to communicate with them all relationships and other matters that may reasonably be thought to bear on our independence, and where applicable, related safeguards.

Other Matters

The annual financial results include the results for the quarter ended 31 March 2021 being the balancing figure between the audited figures in respect of the full financial year and the published audited year to date figures up to the third quarter of the current financial year.

for B S R & Co. LLP Chartered Accountants Firm Registration number: 101248W/W-100022

Sanjay Sharma Partner Membership number: 063980 UDIN: 21063980AAAAEN6848

Place: Bengaluru Date: 22 April 2021

Tata Elxsi delivers segment leading performance for FY21, with full year operating revenues growing by 13.4% and Profits after Tax growing by 43.7%

Bangalore, April 22, 2021: Tata Elxsi (BSE: 500408 | NSE: TATAELXSI), amongst the world's leading providers of design-led technology services, announced its results for the fourth quarter ended March 31, 2021.

Company reported ₨ 1826.2 Cr of revenue from operations for FY21, registering a growth of 13.4% YoY. During the period reported, company generated PBT of Rs 511.9 Cr, registering a growth of 45.3% YoY and crossing the 500 Cr mark for the first time in the company's history. Company's net profit for the year stood at Rs 368.1 Cr, reporting a growth of 43.7% YoY.

Highlights of the Year Ended March 31, 2021

• Revenues from operations at Rs. 1826.2 Cr, +13.4% YoY
• EBITDA Margin at 28.6%; Net Margin at 19.7%
• Highest ever PBT of Rs. 511.9 Cr
• Embedded Product Design (EPD) grew by 14.6% YoY
• Industrial Design and Visualization (IDV) grew by 9.1% YoY

For the quarter ending 31st March 2021, Company reported ₨ 518.4 Cr of revenue from operations, registering a growth of 8.7% QoQ and 18.1% YoY. During the period reported, company generated PBT of Rs 161.7 Cr, registering a growth of 10.6% QoQ and 47.2% YoY. Company's net profit for the quarter stood at Rs 115.2 Cr, reporting a growth of 9.5% QoQ and 40.3% YoY.

Registered Office ITPB Road Whitefield Bangalore 560 048 India Tel +91 80 2297 9123 Fax +91 80 2297 1474 www.tataelxsi.com

(CIN-L85110KA1989PLC009968)

Highlights of the Quarter Ended March 31, 2021

• Revenues from operations at Rs. 518.4 Cr, +8.7% QoQ, +18.1% YoY
• EBITDA Margin at 32.4%; Net Margin at 21.9%
• Highest ever PAT of Rs. 115.2 Cr
• Net headcount of 7362, with industry leading attrition management of 7.4%
• Embedded Product Design (EPD) grew by 5% QoQ, 15.5% YoY
• Industrial Design and Visualization (IDV) grew by 40.1% QoQ, 39.2% YoY

Q4 segment highlights:

Industries:

• Transportation continued to maintain its growth path with an increase of 3.2% QoQ, led by strategic deals and new projects in the automotive sector.
• Media and Communications reported another quarter of steady growth at 5.8% QoQ.
• Healthcare business delivered another quarter of strong growth at 11.8% QoQ, supported by large deal wins.

Markets:

The growth was led by America and India with both reporting 21.1% QoQ growth while Europe grew by 1.6% QoQ

Commenting on the performance, Mr. Manoj Raghavan, CEO and Managing Director, Tata Elxsi said:

"It was a satisfying quarter with continued growth across offerings, industries and geographies. We continue to execute strongly on our growth aspirations with over 9% QoQ revenue growth in constant currency.

Both Transportation and Media and Communications reported another steady quarter of sustained growth while our Healthcare business continues to grow faster. We have seen new customer additions and large deals in all three industry segments in the quarter.

We have added key new customers including a Tier 1 operator and a leading medical devices manufacturer in North America. We have also closed some large deals including a multi-million dollar deal with a global OEM for an integrated connected vehicle program in one of their key markets that will leverage our IoT platform.

Registered Office ITPB Road Whitefield Bangalore 560 048 India Tel +91 80 2297 9123 Fax +91 80 2297 1474 www.tataelxsi.com

(CIN-L85110KA1989PLC009968)

Our design business continues to grow strongly, with improved deal flow and revenues from new deals as well as cross-selling into existing customers for upstream and design-led work. We are improving our ability to communicate the value of our integrated design and product engineering across customers in all our verticals, and will build on this traction in the coming quarters.

On the whole, it has been a great performance by the team in an extraordinary year and environment that posed huge challenges to maintaining business continuity and customer centricity, while ensuring the safety and wellbeing of our employees across the world.

The entire Tata Elxsi team has demonstrated great commitment and passion to ensure we stay focused on technology and delivery excellence, customer delight and opportunities for growth.

I am delighted to exit FY21 with all-round growth in revenues, margins and customer additions. We are entering a new financial year with the continued confidence of our customers in our differentiated capabilities in technology, design and digital, and a strong position in our chosen verticals."

About Tata Elxsi

Tata Elxsi is amongst the world's leading providers of design and technology services across industries including Automotive, Broadcast, Communications, Healthcare and Transportation.

Tata Elxsi is helping customers reimagine their products and services through design thinking and application of digital technologies such as IoT (Internet of Things), Cloud, Mobility, Virtual Reality and Artificial Intelligence. For more information, please visit www.tataelxsi.com

Media Contact Tata Elxsi Hari Balan Corporate Communications +91 80 2297 9123 Email: media@tataelxsi.com

Registered Office ITPB Road Whitefield Bangalore 560 048 India Tel +91 80 2297 9123 Fax +91 80 2297 1474 www.tataelxsi.com

(CIN-L85110KA1989PLC009968)