<p>Q4 FY24: Total operating revenue in Q4 FY24 was up 0.9% QoQ to INR1301 crore. In USD terms, total operating revenues were up 1.2% QoQ to USD 156.6 million. </p>
Q4 FY24: Total operating revenue in Q4 FY24 was up 0.9% QoQ to INR1301 crore. In USD terms, total operating revenues were up 1.2% QoQ to USD 156.6 million.

New Delhi: Tata Technologies Limited, a leading global engineering services company, has announced financial results for the quarter and year ended March 31, 2024 .

FY 24: Total operating revenue in FY24 was up 15.9% YoY to INR 5117.2 crore, and operating EBITDA increased 15% YoY to INR 941.3 crore.

In the past 3 years, revenue from operations has grown at 29% CAGR while operating EBITDA grew at a 35% CAGR. Profit before tax (PBT) was up 17.1% YoY to INR 932.1crore.

The board recommended a final dividend of INR 8.40 per equity share, and a special dividend of INR1.65 per equity share, subject to shareholder approval at the AGM.

Q4 FY24: Total operating revenue in Q4 FY24 was up 0.9% QoQ to INR1301 crore. In USD terms, total operating revenues were up 1.2% QoQ to USD 156.6 million. Services segment revenues came in at USD 120.2 million.

Operating EBITDA was at INR 240 crore; EBITDA margin was at 18.4% vs. 18.3% QoQ (adj.) and 17.3% YoY. Net income was at INR157.2 crore and net margin at 12.1%.

Warren Harris, Chief Executive Officer and Managing Director, said, “I am delighted with the way our business performed in FY24 with revenue growth of 15.9% and a 15% growth in operating EBITDA. In the past 3 years, our revenue from operations has grown at 29% CAGR while operating EBITDA grew at a 35% CAGR. We closed a total of 12 large deals in FY24 which included one USD 50 million-plus deal, and five deals in the USD 15 milliom to USD 25 million range. Our large deal pipeline remains healthy and continues to grow.”

“We are currently engaged in a number of large deal discussions with existing and new customers and anticipate an uptick in deal conversions in the current quarter. We continue to lead our industry in Gen AI and Software Defined Devices (SDx) services – as evidenced by the endorsement that we have received from BMW. I am incredibly grateful to the almost 13,000 people of Tata Technologies, who remain committed to helping our customers engineer a better world”, Harris added.

Savitha Balachandran, Chief Financial Officer, said, “We will continue to follow a balanced approach of exercising operational discipline while strategically investing in capacity and capabilities to seize the opportunity presented by the industry’s structural transformation. Ending the year with a robust EBITDA margin of 18.4% and strong liquidity underscores our focus on efficiency and prudent management of resources. Overall, I am pleased with our execution in FY24 and, also with having delivered over 18% margins consistently over the last three consecutive years, in-line with our stated aspiration. We are excited about our prospects in FY25 and remain committed towards creating long-term shareholder value.”

Tata Technologies is integrating systems engineering for software-defined vehicles (SDVs), leveraging its turnkey vehicle development capabilities to engineer the future of mobility with agility. The company is also utilizing generative AI-powered styling solutions for design studios to fuel innovative design ideas for OEMs.

Furthermore, Tata Technologies is empowering manufacturers with Gen AI-powered virtual sales assistants to support sales and after-sales journeys. Utilizing Gen AI for decoding failure modes can help reduce analysis time by 70%, facilitating proactive decision-making and rapid design enhancements. These advancements represent the company’s commitment to innovation and excellence in engineering the vehicles of tomorrow, the company said in a media release.

  • Published On May 3, 2024 at 08:27 PM IST

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