Tata Elxsi Ltd.

Financial

	Tata Elxsi	KPIT Technologies	Mphasis
Operational Metrics
IT
Net Sales by Employee Cost	1.75 .	1.6 .	1.79 .
Constant Currency Growth - YoY	-2.9 %	n/a	4.6 %
Constant Currency Growth - YoY - Embedded Product Design (EPD)	8.0 %	n/a	n/a
Constant Currency Growth - YoY - Industrial Design & Visualization (IDV)	17.9 %	n/a	n/a
Constant Currency Growth - YoY - System Integration & Support (SIS)	33.3 %	n/a	n/a
Unclassified
R&D as a % of Total Sales	1.84 %	1.19 %	n/a
Financials
5 yr Average ROE	22.69 %	19.58 %	19.58 %
5yr average Equity Multiplier	1.87	1.75	1.48
5yr Average Asset Turnover Ratio	1.55	1.14	1.08
5yr Avg Net Profit Margin	7.8 %	9.76 %	12.29 %
Price to Book	11.64	12.79	5.22
P/E	42.41	42.11	27.45
5yr Avg Cash Conversion Cycle	-908.87 Days	-1193.25 Days	67.98 Days
Inventory Days	0.14 Days	2.89 Days	0.0
Days Receivable	66.54 Days	64.83 Days	67.98 Days
Days Payable	432.72 Days	1330.86 Days	14.14 Days
5yr Average Interest Coverage Ratio	63.65	14.43	22.06
5yr Avg ROCE	30.08 %	22.63 %	24.86 %
5yr Avg Operating Profit Margin	13.85 %	17.03 %	17.91 %
5 yr average Debt to Equity	0.12	0.02	0.09
5yr CAGR Net Profit	25.69 %	32.14 %	5.59 %
5yr Average Return on Assets	11.9 %	11.0 %	13.23 %
Shareholdings
Promoter Holding	43.91 %	39.47 %	40.14 %
Share Pledged by Promoters	0.0	0.0	0.0
Change in Promoter Holding (3 Yrs)	-0.17 %	-0.64 %	-15.66 %
Change in Mutual Fund Holding (3 Yrs)	-1.09 %	3.85 %	9.53 %

Business

	Tata Elxsi	KPIT Technologies	Mphasis
Product Wise Break-Up	Product Wise Break-Up Software Services 96.6 System Integration 3.4 Product Organization 0 Product Engineering Services 0 License income 0 Customer service 0 Transaction processing service 0 Service / Technical helpdesk 0 Business Process Services 0 Infrastructure management services 0 Application maintenance 0 Application development 0	Product Wise Break-Up License income 0 Application development 0 Software Services 0 Transaction processing service 0 Service / Technical helpdesk 0 Product Organization 7.0 Application maintenance 0 Customer service 0 Infrastructure management services 0 Product Engineering 93.0 System Integration 0 Business Process Services 0	Product Wise Break-Up License income 0 Application development 0 Software Services 0 Transaction processing service 0 Service / Technical helpdesk 0 Product Organization 0 Application Maintenance 71.6 Customer service 0 Infrastructure Management Services (IMS) 11.93 Product Engineering Services 0 System Integration 0 Business Process Services 16.47
Location Wise Break-Up	Location Wise Break-Up Europe 37.9 USA 30.6 India 22.4 Rest of the World 0 EMEA 0 Others 9.1	Location Wise Break-Up Europe 38.64 Rest of the World 40.78 EMEA 0 USA 20.58 India 0	Location Wise Break-Up Europe 0 Rest of the World 8.33 EMEA 10.24 USA 81.43 India 0
Operating Profit Break-Up	Operating Profit Break-Up Software development & services 99.09 System integration & support services 0.91 Rest of the World 0 UK & Europe 0 Americas 0 Insurance 0 0 Logistics and Transportation 0 Banking and Capital Market 0	Operating Profit Break-Up System integration & support services 0 USA 20.53 Insurance 0 Rest of the World 34.66 Banking and Capital Market 0 Software development & services 0 Logistics and Transportation 0 Europe 44.81 0	Operating Profit Break-Up System integration & support services 0 Americas 0 Insurance 12.61 Rest of the World 0 Banking and Capital Market 46.07 Software development & services 0 Logistics 15.72 UK & Europe 0 Software Services 12.8 Others 12.8
Verticals	Verticals Automobile 53.4 Media & Entertainment 32.4 Healthcare 13.0 SI & Others 0 Industrial Design 0 Commercial Cars 0 Passenger Cars 0 Logistics & Transportation 0 Emerging Industries 0 0 Insurance 0 Banking and Capital Market 0 Others 1.2	Verticals Passenger Cars 84.26 SI & Others 0 Insurance 0 Commercial Cars 15.74 Logistics & Transportation 0 Emerging Industries 0 Media & Entertainment 0 Industrial Design 0 Automobile 0 0 Banking and Capital Market 0 Healthcare 0	Verticals Passenger Cars 0 SI & Others 0 Insurance 11.66 Commercial Cars 0 Logistics 12.18 Emerging Industries 0 Media & Entertainment 0 Industrial Design 0 Automobile 0 Software Services 16.93 Banking 48.59 Healthcare 0 Others 10.64
Onsite vs Offsite	Onsite vs Offsite Offshore 74.1 Onsite 25.9	-	Onsite vs Offsite Onsite 53.37 Offshore 46.63
Contract Type	Contract Type Fixed Price Contracts 50.7 Time & Material 49.3 Fixed Price Basis 0 0 T&M Projects 0 Transaction Based 0 Time and material 0	Contract Type Fixed Price Contracts 0 Time and material 0 Non T&M Projects 59.2 Time & Material 0 Transaction Based 0 T&M Projects 40.8 0	Contract Type Fixed Price Contracts 0 Time & Material 58.25 Fixed Price Basis 0 Time & Material 0 Transaction Based 10.18 T&M Projects 0 0 Others 31.57
Asset Break-Up	Asset Break-Up Software Services 97.22 System Integration 2.78 Rest of the World 0 UK & Europe 0 Americas 0	Asset Break-Up Software Services 0 USA 29.9 Rest of the World 20.65 Europe 49.45 System Integration 0	-

Tata Elxsi Ltd.

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