This Tata Firm Plans To Hire Nearly 2,000 Engineering Freshers In FY25; Check Details

In the previous fiscal year, Tata Elxsi had onboarded a total of 2,135 freshers. While it refrained from providing specific guidance for FY25, it expressed its aim to achieve improved performance

In the fourth quarter of FY24, Tata Elxsi witnessed a year-on-year (YoY) rise of 8.1 per cent in revenue from operations, reaching Rs 905 crore ( Image Source :Getty )

Tata Elxsi, a design and technology services provider, announced in its earnings conference call for the fourth quarter of the fiscal year 2023-24 that it will recruit 1,500-2,000 engineering freshers in the financial year 2024-25. Additionally, lateral hiring will be conducted based on organisational requirements.

However, Tata Elxsi refrained from giving the exact number of freshers it plans to hire. The management stated, "We will meter hirings based on how the deals shape up and how the revenue keeps up in the year."

In the previous fiscal year, the company had onboarded a total of 2,135 freshers. While Tata Elxsi refrained from providing specific guidance for the current fiscal year, it expressed its aim to achieve improved performance compared to FY24. Additionally, the company emphasised its commitment to pursuing accelerated growth while maintaining healthy margins.

Manoj Raghavan, CEO and managing director at Tata Elxsi, said, "We have done well to maintain an industry leading EBITDA margin of 29.5 per cent for the year, even while we continued to invest in expanding our talent base through all four quarters, with a net addition of 1,535 Elxsians through the year.”

Tata Elxsi Q4 Result:

In the fourth quarter of FY24, the company witnessed a year-on-year (YoY) rise of 8.1 per cent in revenue from operations, reaching Rs 905 crore. However, its profit after tax experienced a YoY decline of 2.3 per cent, amounting to Rs 196 crore, and operating margins experienced a decrease of 100 basis points to 28.8 per cent during the same period.

Additionally, the management highlighted in the call that the increased investment in software development by Original Equipment Manufacturers (OEMs) is contributing positively to Tata Elxsi's earnings.

"The swing of software development to OEMs is not going to be 100 per cent, but currently, there is more and more spending happening from OEMs for software development, which will continue for the next few years," it said.