This multibagger Tata Group stock doubled investors’ wealth in a year

• The Tata Group company has more than doubled investor money in the last one year while also growing with strong figures.
• Tata Elxsi is the seventh largest Tata Group company with a market capitalisation of ₹49,585 crore.
• In the Jan-March quarter, Tata Elxsi’s profit grew nearly 40% and the firm declared ₹42.50 dividend per share.

Design and technology services provider Tata Elxsi has turned a multibagger stock in the last one year as it more than doubled investors’ money during the period.

Tata Elxsi is among the 17 Tata Group companies listed on exchanges with a market capitalisation of ₹49,585 crore.

The company’s net profit for the January-March quarter grew nearly 40% year-on-year to ₹160 crore while revenue grew at ₹681 crore.

Along with strong quarterly numbers, the company’s board has recommended a final dividend of ₹42.50 per share for FY22.

“This has been the strongest year of growth in the company’s history and an all-round performance across business units, industries and geographies,” said Manoj Raghavan, chief executive officer (CEO) and managing director of Tata Elxsi.

Further, he said that the company intends to hire more people to continue the strong growth. In FY22, the company hired 2,014 employees with a total headcount at 9,376.

“On the whole, it has been a great performance amidst a year of pandemic-led disruptions and supply related challenges across the industry. We continue to invest in building our talent pipeline to fuel continued growth,” he added.

The company claims to be amongst the world’s leading providers of design and technology services across industries including automotive, broadcast, communications, healthcare and transportation.

SEE ALSO: This billionaire investor booked a $400 million loss on his billion dollar Netflix investment
Dream11’s parent marks its foray into Web3 by investing in cricket NFTs startup Rario