Whalesbook
Profit Toh Badha, Par Stock Kaha Bhag Gaya?
Dekho, Tata Elxsi ne Q4FY26 ke liye numbers toh tagde pesh kiye hain. Unka Net Profit 27.8% badh kar ₹220.4 crore ho gaya, pichhle saal se kaafi upar. Revenue bhi 9.4% badha aur ₹993.8 crore tak pahunch gaya. EBITDA margin bhi 24.6% ho gaya hai, jo pichhle saal 22.9% tha. Matlab, company andar se toh theek perform kar rahi hai, cost bhi control mein hai.
Healthcare Segment Ki Chinta
Lekin asli gadbad hai healthcare segment mein. Sequential basis par dekho toh yeh segment 13.7% sekad gaya hai. Iska reason bataya ja raha hai ki deals postpone ho gaye hain, matlab clients abhi technology par paisa kharch karne mein thoda delay kar rahe hain. Yeh chinta ki baat hai kyunki yeh company ka ek important business area hai, bhale hi Media & Communications segment mein achhi chal rahi ho.
Valuation Aur Brokerage Ka Scene
Aur haan, valuation ki bhi baat ho rahi hai. Tata Elxsi ka Price-to-Earnings ratio abhi 48-49 ke aas paas hai, jo competitors jaise L&T Technology Services (LTTS) jo 29-30 par hai aur KPIT Technologies jo 27-28 par hai, unse kaafi zyada hai. Jab valuation high hota hai, toh market thodi si bhi kharabi ko badi nazar se dekhti hai. Is wajah se, kuch brokerages ne bhi ratings kam kar di hain aur target price ₹3,900 tak niche kar diya hai. Stock apne 52-week high ₹6,735 se lagbhag 35% niche trade kar raha hai.
Aage Ka Outlook
Management abhi bhi FY27 ke liye cautiously optimistic hai, aur kuch bade deals bhi jeete hain. Lekin sabse bada focus healthcare segment ke recover hone par rahega. Analyst log FY27 ke liye 15-20% PAT growth expect kar rahe hain. Board ne FY26 ke liye ₹75 per share ka final dividend bhi recommend kiya hai.