Tata Technologies Limited Q4 FY’24 Results Conference Call Transcript May 03, 2024
Automotive Sector
We closed a total of 12 large deals in fiscal '24, which included one $50 million plus deal and 5 deals in the $15 million to $25 million range.
We signed a strategic agreement with BMW to establish a JV in India that will be focused on developing next-generation automotive software and digital technologies that will further enable BMW to optimize how they manage their global enterprise.
Our customer pyramid has continued to improve with 2 customers added in the $10 million to $50 million category, two in the $5 million to $10 million category, and three in the $1 million to $5 million category.
Our services business, which formed 77% of our total revenue was flat sequentially, driven by the anticipated ramp-down at VinFast.
The rest of our services and businesses continued to show very healthy momentum with industry-leading sequential growth of 10.4% and full-year growth of 30%.
Our margin performance has remained resilient with operating EBITDA coming in at 18.4%.
Aerospace Sector
Our aerospace vertical continues to scale with opportunities opening up in North America, Europe, and here in India.
Whilst demand for high-end embedded and cybersecurity solutions has largely informed the growth that we see in the industrial heavy machinery sector.
We had two milestone wins in the quarter, which included the strategic partnership with BMW and a $30 million deal in the Education segment with the government of Telangana to modernize 65 state-owned ITIs.
-
We are currently providing to enable Tata Motors to develop an all-new battery electric vehicle for the Indian market using JLR’s EMA platform.
-
We are making good progress in deploying GenAI solutions for our customers in engineering, manufacturing, and various aspects of the customer experience value chain.
Subscribe To Our Free Newsletter |