{"id":310991,"date":"2026-10-15T15:33:57","date_gmt":"2026-10-15T10:03:57","guid":{"rendered":"https:\/\/univest.in\/blogs-2\/?p=310991"},"modified":"2026-10-15T15:33:57","modified_gmt":"2026-10-15T10:03:57","slug":"tata-elxsi-vs-tata-tech-which-tata-group-stock-wins-q2-results-report-card-profit-revenue-compared-target-price","status":"publish","type":"post","link":"https:\/\/univest.in\/blogs-2\/tata-elxsi-vs-tata-tech-which-tata-group-stock-wins-q2-results-report-card-profit-revenue-compared-target-price\/","title":{"rendered":"Tata Elxsi vs Tata Tech: Which Tata Group Stock Wins Q2 Results Report Card? Profit, Revenue Compared, Target Price"},"content":{"rendered":"<p style=\"border-left:4px solid #1F4E79;background:#EBF3FB;padding:10px 16px;font-style:italic;\"><em>Tata Elxsi reported Q2 FY27 profit of Rs 170 crore, up 10% year on year, and its shares jumped about 8% intraday on 14 Oct 2026. Tata Technologies reported profit of Rs 171.44 crore, up about 3.6%, and its shares fell about 5% on 15 Oct 2026. Brokerages are split on Tata Elxsi, with at least five Sell calls, and MOFSL has a Sell on Tata Technologies with a target of Rs 630.<\/em><\/p>\n<div style=\"background:#F0F9FF;border-left:4px solid #2E7D32;border-radius:6px;padding:14px 18px;margin:18px 0;\">\n<p style=\"margin:0;color:#1F4E79;font-size:14px;\"><strong>Quick Answer<\/strong><\/p>\n<p style=\"margin:8px 0 0;\">Tata Elxsi and Tata Technologies reported almost the same profit for Q2 FY27, Rs 170 crore against Rs 171.44 crore, but the market reacted in opposite directions. Tata Elxsi shares rose as much as 8.16% to Rs 3,706 on 14 October 2026 after its EBIT margin improved by 70 basis points to 19.7%, while Tata Technologies fell about 5% on 15 October to Rs 707.65 after a margin and profit miss. Tata Technologies grew revenue faster at 28.4%, but Tata Elxsi earns a higher margin and a higher profit on each rupee of sales. Neither stock is a clear winner, because brokerages see downside to their target price in both, so use this comparison as a research aid and not as a recommendation.<\/p>\n<\/p><\/div>\n<p>Tata Elxsi and Tata Technologies are the two listed engineering and research and development services companies in the Tata Group, and both reported Q2 FY27 numbers within a day of each other. The headline question is which stock won the report card.<\/p>\n<p>This article puts the Tata Elxsi and Tata Technologies results side by side, covers the share price moves, and lists the brokerage target price views. It also flags the points where my sources disagree, so you can check them before you act.<\/p>\n<p style=\"margin-top:24px;\"><strong><a href=\"https:\/\/univest.in\/user\/log-in?utm_source=blogs&#038;utm_medium=tata-elxsi-vs-tata-tech-which-tata-group-stock-wins-q2-results-report-card-profit-revenue-compared-target-price\">Click Here &#8211; Get Free Investment Predictions<\/a><\/strong><\/p>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_65 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title \" >Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/univest.in\/blogs-2\/tata-elxsi-vs-tata-tech-which-tata-group-stock-wins-q2-results-report-card-profit-revenue-compared-target-price\/#Tata_Elxsi_Q2_FY27_Results_Profit_and_Revenue\" title=\"Tata Elxsi Q2 FY27 Results: Profit and Revenue\">Tata Elxsi Q2 FY27 Results: Profit and Revenue<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/univest.in\/blogs-2\/tata-elxsi-vs-tata-tech-which-tata-group-stock-wins-q2-results-report-card-profit-revenue-compared-target-price\/#Tata_Technologies_Q2_FY27_Results_Profit_and_Revenue\" title=\"Tata Technologies Q2 FY27 Results: Profit and Revenue\">Tata Technologies Q2 FY27 Results: Profit and Revenue<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/univest.in\/blogs-2\/tata-elxsi-vs-tata-tech-which-tata-group-stock-wins-q2-results-report-card-profit-revenue-compared-target-price\/#Tata_Elxsi_vs_Tata_Technologies_Head_to_Head\" title=\"Tata Elxsi vs Tata Technologies: Head to Head\">Tata Elxsi vs Tata Technologies: Head to Head<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/univest.in\/blogs-2\/tata-elxsi-vs-tata-tech-which-tata-group-stock-wins-q2-results-report-card-profit-revenue-compared-target-price\/#Share_Price_Moves_Tata_Elxsi_Rally_and_Tata_Technologies_Fall\" title=\"Share Price Moves: Tata Elxsi Rally and Tata Technologies Fall\">Share Price Moves: Tata Elxsi Rally and Tata Technologies Fall<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/univest.in\/blogs-2\/tata-elxsi-vs-tata-tech-which-tata-group-stock-wins-q2-results-report-card-profit-revenue-compared-target-price\/#Tata_Elxsi_and_Tata_Technologies_Target_Price_Views\" title=\"Tata Elxsi and Tata Technologies Target Price Views\">Tata Elxsi and Tata Technologies Target Price Views<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/univest.in\/blogs-2\/tata-elxsi-vs-tata-tech-which-tata-group-stock-wins-q2-results-report-card-profit-revenue-compared-target-price\/#What_to_Watch_Next_for_Tata_Elxsi_and_Tata_Technologies\" title=\"What to Watch Next for Tata Elxsi and Tata Technologies\">What to Watch Next for Tata Elxsi and Tata Technologies<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/univest.in\/blogs-2\/tata-elxsi-vs-tata-tech-which-tata-group-stock-wins-q2-results-report-card-profit-revenue-compared-target-price\/#Conclusion\" title=\"Conclusion\">Conclusion<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/univest.in\/blogs-2\/tata-elxsi-vs-tata-tech-which-tata-group-stock-wins-q2-results-report-card-profit-revenue-compared-target-price\/#Frequently_Asked_Questions\" title=\"Frequently Asked Questions\">Frequently Asked Questions<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/univest.in\/blogs-2\/tata-elxsi-vs-tata-tech-which-tata-group-stock-wins-q2-results-report-card-profit-revenue-compared-target-price\/#What_was_Tata_Elxsis_profit_in_Q2_FY27\" title=\"What was Tata Elxsi&#8217;s profit in Q2 FY27?\">What was Tata Elxsi&#8217;s profit in Q2 FY27?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/univest.in\/blogs-2\/tata-elxsi-vs-tata-tech-which-tata-group-stock-wins-q2-results-report-card-profit-revenue-compared-target-price\/#What_was_Tata_Technologies_profit_in_Q2_FY27\" title=\"What was Tata Technologies&#8217; profit in Q2 FY27?\">What was Tata Technologies&#8217; profit in Q2 FY27?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/univest.in\/blogs-2\/tata-elxsi-vs-tata-tech-which-tata-group-stock-wins-q2-results-report-card-profit-revenue-compared-target-price\/#Which_stock_did_better_after_the_results\" title=\"Which stock did better after the results?\">Which stock did better after the results?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-12\" href=\"https:\/\/univest.in\/blogs-2\/tata-elxsi-vs-tata-tech-which-tata-group-stock-wins-q2-results-report-card-profit-revenue-compared-target-price\/#What_is_the_EBIT_margin_of_each_company\" title=\"What is the EBIT margin of each company?\">What is the EBIT margin of each company?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-13\" href=\"https:\/\/univest.in\/blogs-2\/tata-elxsi-vs-tata-tech-which-tata-group-stock-wins-q2-results-report-card-profit-revenue-compared-target-price\/#What_is_the_target_price_for_Tata_Elxsi\" title=\"What is the target price for Tata Elxsi?\">What is the target price for Tata Elxsi?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-14\" href=\"https:\/\/univest.in\/blogs-2\/tata-elxsi-vs-tata-tech-which-tata-group-stock-wins-q2-results-report-card-profit-revenue-compared-target-price\/#What_is_the_target_price_for_Tata_Technologies\" title=\"What is the target price for Tata Technologies?\">What is the target price for Tata Technologies?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-15\" href=\"https:\/\/univest.in\/blogs-2\/tata-elxsi-vs-tata-tech-which-tata-group-stock-wins-q2-results-report-card-profit-revenue-compared-target-price\/#Did_Tata_Elxsi_shares_rise_228_in_a_week\" title=\"Did Tata Elxsi shares rise 22.8% in a week?\">Did Tata Elxsi shares rise 22.8% in a week?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-16\" href=\"https:\/\/univest.in\/blogs-2\/tata-elxsi-vs-tata-tech-which-tata-group-stock-wins-q2-results-report-card-profit-revenue-compared-target-price\/#Is_this_article_investment_advice\" title=\"Is this article investment advice?\">Is this article investment advice?<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"Tata_Elxsi_Q2_FY27_Results_Profit_and_Revenue\"><\/span><strong>Tata Elxsi Q2 FY27 Results: Profit and Revenue<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<table style=\"border-collapse:collapse;width:100%;\">\n<tr>\n<th style=\"text-align:left;padding:8px;border:1px solid #DDDDDD;background:#0A0E1A;color:#FFFFFF;\">Metric<\/th>\n<th style=\"text-align:left;padding:8px;border:1px solid #DDDDDD;background:#0A0E1A;color:#FFFFFF;\">Q2 FY27<\/th>\n<th style=\"text-align:left;padding:8px;border:1px solid #DDDDDD;background:#0A0E1A;color:#FFFFFF;\">Change<\/th>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Revenue from operations<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Rs 1,056 crore<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Up 3.4% QoQ; up 15% YoY from Rs 918 crore (Business Standard)<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Revenue in constant currency<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Not stated in Rs<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Up 2.3% QoQ; up 7.8% YoY (Nirmal Bang)<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">EBIT<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Rs 208 crore<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Up 7.3% QoQ from Rs 194 crore<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">EBIT margin<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">19.7%<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Up 70 basis points QoQ from 19.0%<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Net profit<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Rs 170.30 crore<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Up 10.0% YoY from Rs 154.82 crore; down 0.2% QoQ<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Total income<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Rs 1,090.57 crore<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Up 12.8% YoY from Rs 966.98 crore<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Other income<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Rs 35 crore<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Down from Rs 49 crore a year earlier<\/td>\n<\/tr>\n<\/table>\n<p>The company announced the results on 13 October 2026 after market hours. The profit rose 10% from a year ago, which matches the headline, but it was flat from the June quarter, and several data sites call it a flat result. Both statements are true because they use different base periods.<\/p>\n<p>The segment picture was even. In constant currency, Media and Communications grew 3.4% QoQ, Healthcare and Life Sciences grew 3.5% and Transportation grew 2%. CEO Manoj Raghavan said the focus on operational efficiency lifted the margin and that the company is investing in generative AI across its verticals.<\/p>\n<p><strong>Risk:<\/strong> Revenue growth of 2.3% in constant currency is modest, and the 7.8% year on year figure is far below the 15% in rupee terms, so currency helped the headline number.<\/p>\n<p style=\"margin-top:24px;\"><strong><a href=\"https:\/\/univest.in\/screeners\">Compare Tata Elxsi and Tata Technologies on the Univest Screener<\/a><\/strong><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Tata_Technologies_Q2_FY27_Results_Profit_and_Revenue\"><\/span><strong>Tata Technologies Q2 FY27 Results: Profit and Revenue<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<table style=\"border-collapse:collapse;width:100%;\">\n<tr>\n<th style=\"text-align:left;padding:8px;border:1px solid #DDDDDD;background:#0A0E1A;color:#FFFFFF;\">Metric<\/th>\n<th style=\"text-align:left;padding:8px;border:1px solid #DDDDDD;background:#0A0E1A;color:#FFFFFF;\">Q2 FY27<\/th>\n<th style=\"text-align:left;padding:8px;border:1px solid #DDDDDD;background:#0A0E1A;color:#FFFFFF;\">Change<\/th>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Revenue<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Rs 1,698.80 crore<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Up 28.4% YoY from Rs 1,323.33 crore<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Revenue in US dollars<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">$177.9 million<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Up 19.1% YoY; up 1.4% QoQ organic in constant currency<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">EBITDA<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Rs 273.3 crore<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Up 31.5% YoY; margin 16.1%, up 40 basis points<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">EBIT margin<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">12.9%<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Below the 13.5% that MOFSL expected<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Net profit<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Rs 171.44 crore<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Up about 3.6% YoY from Rs 165.50 crore<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Services revenue<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Rs 1,355.7 crore<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Up 33.9%; about 80% of revenue<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Technology Solutions revenue<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Rs 343.1 crore<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Up 10.5%<\/td>\n<\/tr>\n<\/table>\n<p>Tata Technologies reported on 14 October 2026 after market hours. Revenue grew far faster than at Tata Elxsi, but profit grew only about 3.6%, so the extra revenue did not reach the bottom line. The sources I reviewed do not say how much of the 28.4% growth came from acquisitions, so I do not split it.<\/p>\n<p>The company has 12,895 employees, an attrition rate of 15.6% and a mix of 65% onshore and 35% offshore work. CEO Warren Harris said he is confident of strong double digit growth for the full year, while the CFO flagged near term challenges.<\/p>\n<p><strong>Risk:<\/strong> Adjusted profit missed the Rs 200.4 crore that MOFSL expected, and the EBIT margin of 12.9% was below its 13.5% estimate.<\/p>\n<p style=\"margin-top:24px;\"><em>Download the <a href=\"http:\/\/apps.apple.com\/in\/app\/univest-stocks-investment\/id6443753518\" rel=\"nofollow noopener\" target=\"_blank\">Univest iOS App<\/a> or <a href=\"http:\/\/play.google.com\/store\/apps\/details?id=com.univest.capp&#038;hl=en_IN\" rel=\"nofollow noopener\" target=\"_blank\">Univest Android App<\/a> to track both Tata Group stocks and set price alerts.<\/em><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Tata_Elxsi_vs_Tata_Technologies_Head_to_Head\"><\/span><strong>Tata Elxsi vs Tata Technologies: Head to Head<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<table style=\"border-collapse:collapse;width:100%;\">\n<tr>\n<th style=\"text-align:left;padding:8px;border:1px solid #DDDDDD;background:#0A0E1A;color:#FFFFFF;\">Measure<\/th>\n<th style=\"text-align:left;padding:8px;border:1px solid #DDDDDD;background:#0A0E1A;color:#FFFFFF;\">Elxsi<\/th>\n<th style=\"text-align:left;padding:8px;border:1px solid #DDDDDD;background:#0A0E1A;color:#FFFFFF;\">Tata Technologies<\/th>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Net profit<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Rs 170.30 crore<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Rs 171.44 crore<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Revenue<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Rs 1,055.7 crore<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Rs 1,698.80 crore<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Net profit margin (my calculation)<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">About 16.1%<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">About 10.1%<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Profit growth YoY<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">10.0%<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">About 3.6%<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Revenue growth YoY<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">15% in rupees; 7.8% in constant currency<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">28.4% in rupees; 19.1% in dollars<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Operating margin<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">EBIT margin 19.7%<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">EBIT margin 12.9%; EBITDA margin 16.1%<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Share price reaction<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Up as much as 8.16% on 14 Oct<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Down about 5% on 15 Oct<\/td>\n<\/tr>\n<\/table>\n<p>On profit quality, Tata Elxsi wins. It produced the same profit as Tata Technologies on about 38% less revenue (my calculation: 1,055.7 against 1,698.80), and its profit grew faster. On revenue growth, Tata Technologies wins by a wide margin, though acquisitions may explain part of it.<\/p>\n<p>Valuation cuts the other way. MOFSL says Tata Technologies trades at 32 times FY28 estimated earnings, a 90% premium to KPIT Technologies and a 31% premium to Tata Elxsi. A higher multiple on a weaker profit result explains why the Tata Technologies shares fell more.<\/p>\n<p><strong>Risk:<\/strong> Winning the report card does not make a stock good value or a buy, and these shares also carry a Sell rating from several brokerages.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Share_Price_Moves_Tata_Elxsi_Rally_and_Tata_Technologies_Fall\"><\/span><strong>Share Price Moves: Tata Elxsi Rally and Tata Technologies Fall<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<table style=\"border-collapse:collapse;width:100%;\">\n<tr>\n<th style=\"text-align:left;padding:8px;border:1px solid #DDDDDD;background:#0A0E1A;color:#FFFFFF;\">Date<\/th>\n<th style=\"text-align:left;padding:8px;border:1px solid #DDDDDD;background:#0A0E1A;color:#FFFFFF;\">Elxsi<\/th>\n<th style=\"text-align:left;padding:8px;border:1px solid #DDDDDD;background:#0A0E1A;color:#FFFFFF;\">Tata Technologies<\/th>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">13 Oct 2026<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Closed at Rs 3,426.70, up 5.21%<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Results due after market<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">14 Oct 2026<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Intraday high Rs 3,706 (up 8.16%); last Rs 3,693 (up 7.78%)<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Closed at Rs 745.55, up 0.25%<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">15 Oct 2026<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Not covered in my sources<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Fell about 5% to Rs 707.65<\/td>\n<\/tr>\n<\/table>\n<p>The 5.21% gain on 13 October and the 7.78% gain on 14 October compound to about 13.4% in two sessions (my calculation). The headline cites a gain of about 22.8% for Tata Elxsi in a week and about 6.36% for Tata Technologies, and I could not verify either figure. The 6.36% gain for Tata Technologies also conflicts with the roughly 5% fall I found on 15 October, so check the exact dates and base prices.<\/p>\n<p>One source puts Tata Elxsi at Rs 3,666.90 and describes it as down 7.01%, which looks like a sign error because the same report calls it a gain. I use the gain.<\/p>\n<p><strong>Risk:<\/strong> A sharp one day rally in Tata Elxsi can fade quickly if the next quarter does not confirm the margin gain.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Tata_Elxsi_and_Tata_Technologies_Target_Price_Views\"><\/span><strong>Tata Elxsi and Tata Technologies Target Price Views<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<table style=\"border-collapse:collapse;width:100%;\">\n<tr>\n<th style=\"text-align:left;padding:8px;border:1px solid #DDDDDD;background:#0A0E1A;color:#FFFFFF;\">Brokerage<\/th>\n<th style=\"text-align:left;padding:8px;border:1px solid #DDDDDD;background:#0A0E1A;color:#FFFFFF;\">Stock<\/th>\n<th style=\"text-align:left;padding:8px;border:1px solid #DDDDDD;background:#0A0E1A;color:#FFFFFF;\">Rating and target price<\/th>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">MOFSL<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Elxsi<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Sell, Rs 2,970<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Mirae Asset<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Elxsi<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Sell, Rs 3,020<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Kotak Securities<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Elxsi<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Sell, Rs 3,200<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">360 ONE<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Elxsi<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Sell, Rs 2,840 (lowest, raised from Rs 2,780)<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Choice Broking<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Elxsi<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Add, Rs 3,520<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Nirmal Bang<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Elxsi<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Hold, Rs 3,825<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Axis Capital<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Elxsi<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Rs 4,950 (highest)<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Bloomberg consensus<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Elxsi<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Rs 3,442, about 5.8% below the Rs 3,693 price<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">MOFSL<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Tata Technologies<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Sell, Rs 630 (26 times FY28 estimated earnings)<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">JM Financial<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Tata Technologies<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Reduce, Rs 735 (from Rs 730)<\/td>\n<\/tr>\n<\/table>\n<p>The spread of target price calls on Tata Elxsi is very wide, from Rs 2,840 to Rs 4,950, which shows how far the analysts disagree on the pace of the recovery. Nirmal Bang expects the second half to be better than the first and ties it to deal ramp ups and closures. 360 ONE calls the quarter strong on revenue and margin but expects the margin improvement to be gradual.<\/p>\n<p>For Tata Technologies, both brokerages I found see the stock at or above fair value. The Rs 630 target of MOFSL implies a fall of about 11% from Rs 707.65 (my calculation), and the Rs 735 target of JM Financial implies a rise of about 4%.<\/p>\n<p><strong>Risk:<\/strong> A target price is an opinion at one date, and it changes after each result.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"What_to_Watch_Next_for_Tata_Elxsi_and_Tata_Technologies\"><\/span><strong>What to Watch Next for Tata Elxsi and Tata Technologies<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<ol>\n<li>Conversion of European deals at Tata Elxsi, which analysts say is delayed by weak auto demand in Europe<\/li>\n<li>Timing of the Aerospace and Defence ramp up at Tata Elxsi, seen two to three quarters away<\/li>\n<li>Whether the EBIT margin of Tata Elxsi holds near 19.7% after salary revisions<\/li>\n<li>Tata Technologies margin recovery from 12.9% and any update on its full year double digit growth guidance<\/li>\n<li>Attrition at Tata Technologies, now 15.6%<\/li>\n<li>Target price changes from brokerages after the next quarter<\/li>\n<\/ol>\n<h2><span class=\"ez-toc-section\" id=\"Conclusion\"><\/span><strong>Conclusion<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Tata Elxsi wins the Q2 FY27 report card on profit growth, margin and market reaction, while Tata Technologies wins on revenue growth. Both stocks face brokerage Sell or Reduce calls, so the next two quarters matter more than this one.<\/p>\n<div style=\"background:#CC0000;border-radius:8px;padding:16px 20px;margin:24px 0;\">\n<p style=\"color:#FFFFFF;font-size:13px;line-height:1.7;margin:0;\"><strong style=\"color:#FFFFFF;\">Disclaimer:<\/strong> Data and figures in this article are sourced from publicly available information. These may or may not be accurate. Please verify all data with the official NSE (nseindia.com) and BSE (bseindia.com) websites before making any investment decision. Investments in securities are subject to market risk. This content is for educational purposes only and is not investment advice by Univest (SEBI RA INH000013776).<\/p>\n<\/p><\/div>\n<h2><span class=\"ez-toc-section\" id=\"Frequently_Asked_Questions\"><\/span><strong>Frequently Asked Questions<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<h3><span class=\"ez-toc-section\" id=\"What_was_Tata_Elxsis_profit_in_Q2_FY27\"><\/span><strong>What was Tata Elxsi&#8217;s profit in Q2 FY27?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> Net profit was about Rs 170 crore, up 10% from Rs 154.82 crore a year earlier and down 0.2% from the June quarter.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"What_was_Tata_Technologies_profit_in_Q2_FY27\"><\/span><strong>What was Tata Technologies&#8217; profit in Q2 FY27?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> Net profit was Rs 171.44 crore, up about 3.6% from Rs 165.50 crore, while revenue rose 28.4% to Rs 1,698.80 crore.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Which_stock_did_better_after_the_results\"><\/span><strong>Which stock did better after the results?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> Tata Elxsi rose as much as 8.16% on 14 October 2026, while Tata Technologies fell about 5% on 15 October.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"What_is_the_EBIT_margin_of_each_company\"><\/span><strong>What is the EBIT margin of each company?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> Tata Elxsi reported 19.7%, up 70 basis points. Tata Technologies reported 12.9%, below the 13.5% that MOFSL expected.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"What_is_the_target_price_for_Tata_Elxsi\"><\/span><strong>What is the target price for Tata Elxsi?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> Brokerage targets range from Rs 2,840 at 360 ONE to Rs 4,950 at Axis Capital, and the Bloomberg consensus is Rs 3,442.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"What_is_the_target_price_for_Tata_Technologies\"><\/span><strong>What is the target price for Tata Technologies?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> MOFSL has a Sell with a target of Rs 630 and JM Financial has a Reduce with a target of Rs 735.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Did_Tata_Elxsi_shares_rise_228_in_a_week\"><\/span><strong>Did Tata Elxsi shares rise 22.8% in a week?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> I could not verify that figure. My sources show gains of 5.21% on 13 October and 7.78% on 14 October, which compound to about 13.4% in two sessions.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Is_this_article_investment_advice\"><\/span><strong>Is this article investment advice?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> No. It is educational and not a recommendation to buy or sell.<\/p>\n<div class=\"faq-schema\"><script type=\"application\/ld+json\">{\"@context\":\"https:\/\/schema.org\",\"@type\":\"FAQPage\",\"mainEntity\":[{\"@type\":\"Question\",\"name\":\"What was Tata Elxsi's profit in Q2 FY27?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"Net profit was about Rs 170 crore, up 10% from Rs 154.82 crore a year earlier and down 0.2% from the June quarter.\"}},{\"@type\":\"Question\",\"name\":\"What was Tata Technologies' profit in Q2 FY27?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"Net profit was Rs 171.44 crore, up about 3.6% from Rs 165.50 crore, while revenue rose 28.4% to Rs 1,698.80 crore.\"}},{\"@type\":\"Question\",\"name\":\"Which stock did better after the results?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"Tata Elxsi rose as much as 8.16% on 14 October 2026, while Tata Technologies fell about 5% on 15 October.\"}},{\"@type\":\"Question\",\"name\":\"What is the EBIT margin of each company?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"Tata Elxsi reported 19.7%, up 70 basis points. Tata Technologies reported 12.9%, below the 13.5% that MOFSL expected.\"}},{\"@type\":\"Question\",\"name\":\"What is the target price for Tata Elxsi?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"Brokerage targets range from Rs 2,840 at 360 ONE to Rs 4,950 at Axis Capital, and the Bloomberg consensus is Rs 3,442.\"}},{\"@type\":\"Question\",\"name\":\"What is the target price for Tata Technologies?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"MOFSL has a Sell with a target of Rs 630 and JM Financial has a Reduce with a target of Rs 735.\"}},{\"@type\":\"Question\",\"name\":\"Did Tata Elxsi shares rise 22.8% in a week?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"I could not verify that figure. My sources show gains of 5.21% on 13 October and 7.78% on 14 October, which compound to about 13.4% in two sessions.\"}},{\"@type\":\"Question\",\"name\":\"Is this article investment advice?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"No. It is educational and not a recommendation to buy or sell.\"}}]}<\/script><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Tata Elxsi vs Tata Technologies after Q2 FY27: profit, revenue, EBIT margin, share price moves and brokerage target prices compared.<\/p>\n","protected":false},"author":36,"featured_media":310987,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[842],"tags":[1133,6973,11918,12528,833,12527],"class_list":["post-310991","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-it-stocks","tag-tata-elxsi","tag-tata-elxsi-q2-results","tag-tata-elxsi-target-price","tag-tata-technologies","tag-tata-technologies-q2-results"],"metadata":{"rank_math_internal_links_processed":["1"],"_thumbnail_id":["310987"],"rank_math_title":["Tata Elxsi vs Tata Technologies: Q2 FY27 Compared"],"rank_math_description":["Tata Elxsi vs Tata Technologies after Q2 FY27: profit, revenue, EBIT margin, share price moves and brokerage target price views compared, with the risks for each stock."],"rank_math_focus_keyword":["Tata Elxsi"],"rank_math_robots":["a:2:{i:0;s:7:\"noindex\";i:1;s:8:\"nofollow\";}"]},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/univest.in\/blogs-2\/wp-content\/uploads\/2026\/10\/tata-elxsi-vs-tata-tech-which-tata-group-stock-wins-q2-results-report-card.webp","_links":{"self":[{"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/posts\/310991","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/users\/36"}],"replies":[{"embeddable":true,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/comments?post=310991"}],"version-history":[{"count":1,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/posts\/310991\/revisions"}],"predecessor-version":[{"id":310992,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/posts\/310991\/revisions\/310992"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/media\/310987"}],"wp:attachment":[{"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/media?parent=310991"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/categories?post=310991"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/tags?post=310991"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}