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TATA ELXSI (BUY)
CMP: 1100

Recommended to buy between: 1050-1150
Originally Recommended @ 760 Rs in Dec’14

Date: 08th May 2015
Tgt1: 1700Rs.
Tgt2: 2000 Rs.

Tata Elxsi, which is a part of $100 billion Tata group, is a design company that blends technology,
creativity and engineering to help customers transform ideas into world-class products and solutions.
A part of the $100 billion Tata group, company addresses the communications, consumer products,
defence, healthcare, media & entertainment, semiconductor and transportation sectors. The
Company has over 4000 employees and a network of design studios, development centers and offices
worldwide. Key services include embedded product design, industrial design, animation & visual
effects and systems integration. Headquartered in Bangalore, India, co’s global network of offices
includes Dubai, France, Germany, Japan, Malaysia, Singapore, South Africa, UAE, UK, and USA.
Fundamentals: With an Equity Capital of just 31.14 Crores with Resevres expected to be more than
220Crore on books for the Current Financial Year ending March-2015 & Expected to touch 250 Crore
Reserves by 2016 March, The company has no Debt- a Zero debt company with Consistent Divident
pay out with a Hall mark of TATA Group Enterprise & as, Mr. Ramdorai says, “Tata Elxsi is another TCS
in the making” One can comfortably look for next 2-3 Years Investment Horizon on the counter
because of Less Risks despite a Price appreciation lately.

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Technicals: Technically, Tata Elxsi is showing signs of an Exponential Growth in Price movement
because according to Wave theory & Per the Technical Indicators, We are Bullish on the Stock & We
expect Tata Elxsi to touch a Level of Rs. 1700 Soon…& Next target comes at 2060Rs….with a Possible
High Divident News or A Bonus or Major Alliance.

(Chart Source: www.icharts.in)
We were expecting a Big correction on Nifty & it has come, Now we expect the markets to start it’s
upside from 20th May-2015, Before that Nifty may touch 8000-7960 Levels, & If Nifty goes below it to
7700- Go Ahead Be Brave & buy in this Dip..It is a Long Term Buying opportunity.
Psychologically, the stock is being traded in by Investors & traders both. Though Valuations have
stretched a bit & seeing the Growth prospects of the company & It’s actual Deliverance of Results
make it a Psychological pursuit for the Bourses on D-Street.
Prcatically, looking at all aspects & Since we had recommended the stock at just Rs. 760 in December
2014 after which it touched 1470+ Levels & Came down to sub 1100 Levels, We see The Next 1-2 Years
will see a Bigger move on the counter especially the way the stock is being Accumulated by Smart
Hands.

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Results:
Tata Elxsi has reported a rise of 26.02% in its net profit at Rs 29.83 crore for the quarter ended March
31, 2015 as compared to Rs 23.67 crore for the same quarter in the previous year. Total income of the
company has increased by 8.06% at Rs 230.76 crore for quarter under review as compared to Rs
213.55 crore for the quarter ended March 31, 2014.
For the year ended March 31, 2015, on the consolidated basis, the company has posted a rise of
41.18% in its net profit at Rs 102.02 crore as compared to Rs 72.26 crore for the same period in the
previous year. Total income of company has increased by 8.31% at Rs 852.74 crore for year under
review as compared to Rs 787.32 crore for the period ended March 31, 2014. While Company declared
110% Dividend on Facevalue of Rs. 10 i.e 11Rs Dividend for Year ended 2014-15.
If One is a bit Risk taker & Believes in TATA GROUP, One may like to Add this Scrip to their Portfolio
for at least next 2 Years for a Higher Appreciation than what Nifty could perform. We think TATA ELXSI
may Outperform the general markets.
Important Developments & Effects to be seen:
Alliance with Algotochip
Company has signed partnership with Algotochip, the first company that turns behavioral C-code into
devices, to provide rapid SoC solutions and services targeted at OEMs and custom chip makers.
The companies' first collaboration is to develop digital chips and IP blocks that can support nextgeneration video services embedded with the latest 4K HEVC (High Efficiency Video Coding)
technology. This leverages Tata Elxsi’s HEVC Ultra HD (4K) software that has been licensed to multiple
customers. The IP blocks and services are targeted for an array of proliferating smart CE devices such
as Smartphones, tablets, set-top boxes, gaming consoles, media players amongst others. This
partnership allows customers to incorporate advanced technology into their SoCs and to get market
faster by reducing development time & risks.
According to industry lobby Nasscom, by 2020, global spending on E&D services is expected to touch
$1.6 trillion by 2020, up from $1.3 trillion in 2011. Out of this, offshore spending is expected to be
$116 billion. This is likely to create a $37- to $45-billion market for India’s E&D export, thus benefitting
company in capturing major share.

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KEY SERVICES & Business Activities:
EMBEDDED PRODUCT DESIGN
Company provides technology consulting, new product development, system integration and
testing services for leading product companies, service providers and aspiring start-ups. Company also
create and license intellectual property and software components.
INDUSTRIAL DESIGN
Company helps customers develop successful brands and products by using design as a strategic tool
for business success. It cater to a broad spectrum of industries like Automotive, Communications,
Consumer products, Healthcare, and Retail. Its services ranging from research & strategy, branding &
graphic design, product design, packaging design, UI design, retail design & signage, transportation
design, design engineering and manufacturing support.
VISUAL COMPUTING LABS
Company provides Animation, Visual Effects (VFX), and 3D stereoscopic content for feature films,
episodic television and television, commercials. It have developed two full length movies, namely
“Roadside Romeo” , a joint venture between India’s largest production house Yash Raj Films and the
leader’s in animation worldwide Walt Disney and “Arjun –The Warrior Prince presented by Walt
Disney Pictures and UTV Motion Pictures. A winner of several awards at national and international
levels, we have also been nominated by Hollywood-based Visual Effects Society (VES) for delivering
outstanding animation in “Roadside Romeo”, India’s pioneering CGI animated, theatrical,
contemporary entertainment movie.
SYSTEMS INTEGRATION
Company implements and integrates complete systems and solutions for High-Performance
Computing, CAD/CAM/CAE/ PLM, Broadcast, Virtual Reality, Storage and Disaster Recovery. It address
the broadcast, manufacturing, government, defense and education sectors, with an expert team of
integration specialists and support engineers located across a wide network of offices. This is backed
by strategic partnerships with best-in- class software and technology providers.
PROFESSIONAL SERVICES
The Professional Services Group extends maintenance and support services for data mining, facilities
management, network management and storage consultancy and management in India and overseas.

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At the End….
IMPORTANT Message to Our Readers:
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Enjoy the Markets & Enjoy making money.
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herein is at one's own risk. This is not an offer to sell or solicitation to buy any securities and Qi
MARKETS will not be liable for any losses incurred or investment(s) made or decisions taken/or not
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situations, or needs of individual investors. Before acting on any recommendation, investors should
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