Analysts/Institutional Investor Meet/Con. Call Updates

July 17, 2026 BSE Limited National Stock Exchange of India Limited Phiroze Jeejeebhoy Towers Exchange Plaza, Plot No. C-1, Block G Dalal Street Bandra – Kurla Complex Bandra (East) Mumbai – 400 001 Mumbai – 400 051 Scrip Code: 500408 NSE Symbol: TATAELXSI Dear Sirs/Madam, Sub: Transcript of the Investors’ Conference Call for the quarter ended June 30, 2026 Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015, please find enclosed the transcript of the Investors’ Conference Call held on July 14, 2026, on the Audited Financial Results of the Company for the quarter ended June 30, 2026. The transcript of the earnings conference call is also available on the Company’s website at www.tataelxsi.com. This is for your information and records. Thanking you, Yours faithfully, For Tata Elxsi Limited Sneha V Company Secretary & Compliance Officer Encl: As above “Tata Elxsi Limited Q1 FY ‘26-27 Earnings Conference Call” July 14, 2026 MANAGEMENT: MR. MANOJ RAGHAVAN – MANAGING DIRECTOR AND CHIEF EXECUTIVE OFFICER – TATA ELXSI LIMITED MR. NITIN PAI – CHIEF MARKETING AND CHIEF STRATEGY OFFICER – TATA ELXSI LIMITED MR. NALIN RANA – CHIEF FINANCIAL OFFICER – TATA ELXSI LIMITED MS. SNEHA V – COMPANY SECRETARY – TATA ELXSI LIMITED MODERATOR: MR. SHASHANK GANESH – ERNST & YOUNG Tata Elxsi Limited July 14, 2026 Moderator: Ladies and gentlemen, good day and welcome to the Q1 FY 26-27 Earnings Conference Call of Tata Elxsi Limited, hosted by E&Y. As a reminder, all participant lines will be in the listen- only mode and there will be an opportunity for you to ask questions after the presentation concludes. Should you need assistance during the conference call, please signal an operator by pressing '*' and then '0' on your touchtone phone. Please note that this conference is being recorded. I now hand the conference over to Mr. Shashank Ganesh from E&Y. Thank you and over to you, sir. Shashank Ganesh: Thank you very much. Good evening to all the participants on the call. Good morning if you're logging in from the western side. Before we proceed to the call, let me remind you that this discussion may contain forward-looking statements that may involve known or unknown risks, uncertainties and other factors. Therefore, it must be viewed in conjunction with the business risks that could cause further results, performance or achievements that differ significantly from what is expressed or implied by such forward-looking statements. To take us through the results and answer your questions today, we have the senior management of Tata Elxsi represented by Mr. Manoj Raghavan, Managing Director and CEO, Mr. Nitin Pai, Chief Marketing and Chief Strategy Officer, Mr. Nalin Rana, Chief Financial Officer, and Ms. Neha V., Company Secretary. We will start the call with a brief overview of the past quarter by Mr. Raghavan, followed by a Q&A session. We would appreciate your cooperation in restricting yourself to two questions to allow participants an opportunity to interact. If you have any further questions, you may join the queue and we will be happy to respond to them if time permits. With that, I would like to hand over the call to Mr. Manoj Raghavan. Over to you, Manoj. Manoj Raghavan: Thank you, Shashank. Very good evening to everybody who's joined us today for the Q1 FY 27 investor call. I hope all of you are fine and doing well. I'm pleased to announce that Tata Elxsi has passed a key milestone of crossing more than INR1,000 crores of quarterly reporting operating revenues by delivering INR1,021.1 crores in the first quarter of FY 27. In constant currency terms, our revenue grew by 6.5% year-on-year and 1.3% quarter-on-quarter. The growth was led by our major verticals, transportation and media and communication, which grew 6.7% and 11.5% respectively year-on-year in constant currency. We see this performance as a reflection of the strength and relevance of our unique design-led and AI- enabled engineering capabilities, supported by large strategic engagements in our chosen industries. We posted an EBITDA of INR216 crores, which grew at 15.7% year-on-year and an EBITDA margin of 21.2%. The media and communication business delivered robust growth of 4.7% quarter-on-quarter in natural currencies and 2.9% quarter-on-quarter in constant currencies, which translate to a year-on-year growth of 22.2% in natural currencies and 11.5% in constant currencies. The strong performance was enabled by the ramp-up of key engagements which we announced in the previous quarters and large programs with global operators and broadcasters. Page 2 of 18 Tata Elxsi Limited July 14, 2026 Our transportation business, which contributes more than 55% of the SDS segment revenue, reported a resilient performance in an otherwise challenged macro environment with a growth of 6.7% year-on-year in constant currency and 13.3% year-on-year in natural currency. This was led by large automotive OEM engagements and strategic off-road and aerospace deal wins. We continue to strengthen our pivots towards OEM and today 78% of our automotive revenues is from our OEM customers. The healthcare business exited near flat with a -0.3% quarter-on-quarter in constant currency, reflecting the muted global healthcare business environment. The anticipated momentum was staggered by delayed deal awards from some of our key customers. We however remain excited about the long-term prospects of this segment. We continue to invest through scaling our newly launched platforms such as ViTel, and AnaTel, reimagining our offerings with AI, GenAI and taking center stage in medtech and healthcare events, setting ourselves to capture emerging opportunities. In the quarter gone by, we have accelerated our efforts to expand platform-led offerings. Our Neuron platform portfolio has enabled Sky in Europe to transition towards zero-touch network operations with enhanced cybersecurity, delivering upto 30% to 70% efficiencies in various parameters. Our AI-led material intelligence platform ViTel also inked a strategic deal with a global medtech company. We are executing upon our future-focused strategy and will continue to intensify our investments in specialized talent, rigorous upskilling, AI-powered platforms, tools and infrastructure that strengthens our human plus AI plus domain proposition. These forward-looking investments will enable us to stay at leading edge of technology advancements while accelerating value creation for our customers. The US region performed well for us across verticals led by new deal wins and deal ramp-ups. Some of these strategic programs demand quick ramp-up at onshore for transition support and initial stabilization. We have incurred additional cost of deploying forward teams as well as specialist third-party contractors to help accelerate transitions and mitigate visa delays for our engineers. This is partly reflected in our onsite-offshore ratio and bottom-line performance and should ease over the next two to three quarters. We are firmly focused on sustainable growth, deepening our engagements with key customers and positioning ourselves to shape and win strategic long-term deals and add marquee customers. We look forward to carrying the growth momentum to subsequent quarters while remaining steadfast on our operational rigor and business discipline. Thank you and over to Shashank for the Q&A session. Moderator: Thank you very much. We will now begin with the question-and-answer session. Your first question comes from the line of Bhavik Mehta with JP Morgan. Please go ahead. Bhavik Mehta: Hi, thank you. So, a couple of questions. Firstly, Manoj, if you can give some outlook on your three verticals given, you know, the Middle East conflict still remains in place. So, you know, how are the discussions with clients evolving on spending intentions for the next few quarters? Page 3 of 18 Tata Elxsi Limited July 14, 2026 And if you can, you know, segregate it across th [Showing first 8,000 characters — download PDF for full document]