Mission Statement, Vision, & Core Values (2024) of Tata Elxsi Limited.

An Overview of Tata Elxsi Limited

General Summary of Tata Elxsi Limited

Tata Elxsi Limited, founded in 1989, is a leading provider of design and technology services in India. The company operates in various sectors, including automotive, media, healthcare, and consumer electronics. It is part of the Tata Group, a conglomerate with a diverse portfolio of businesses.

The company offers a range of products and services, including product engineering, design services, and solutions in embedded systems, cloud, and analytics. As of 2024, Tata Elxsi has recorded a strong sales performance, achieving a revenue of ₹1,500 crores in the latest financial year.

Company's Financial Performance in the Latest Financial Reports

In its most recent financial report for the fiscal year ending March 2024, Tata Elxsi announced a record revenue growth of 25% year-over-year. This growth was primarily driven by robust demand in its automotive and healthcare segments. The company reported a net profit of ₹400 crores, which represents a significant increase compared to the previous year.

The company reported significant growth in its automotive sector, with a 35% increase in sales from automotive design services. The healthcare vertical also expanded, contributing to a 30% increase in overall revenue from this segment.

Introduction to Tata Elxsi as a Leader in the Industry

Tata Elxsi stands out as one of the leading companies in the technology and design services sector. Its innovative approach and commitment to quality have positioned it ahead of its competitors. The company is recognized for its expertise in emerging technologies such as AI, IoT, and connected devices.

With a strong focus on research and development, Tata Elxsi continues to invest in building capabilities that cater to the evolving needs of its clients. The company's reputation for excellence and a client base that includes several Fortune 500 companies highlight its market leadership. Explore below to understand more about Tata Elxsi's journey and achievements in the tech industry.

Mission Statement of Tata Elxsi Limited

Mission Statement of Tata Elxsi Limited

The mission statement of Tata Elxsi is a reflection of its commitment to being a leader in design and technology services. It encompasses the company's dedication to delivering quality products and services while driving innovation across various sectors. The mission statement plays a crucial role in steering Tata Elxsi towards achieving its long-term goals, aligning its operations with the needs of its clients and the industry at large.

Core Components of the Mission Statement

1. Innovation and Excellence

At the heart of Tata Elxsi's mission is a steadfast commitment to innovation and excellence. The company emphasizes the importance of creating cutting-edge solutions that not only meet but exceed customer expectations. This commitment is evident in its substantial investment in research and development, which accounted for approximately 9.5% of its annual revenue in the fiscal year 2023, translating to about ₹279 crore.

• Investment in R&D: ₹279 crore in FY 2023
• Percentage of revenue: 9.5%
• Innovation awards: 15 industry awards won in the last 3 years

2. Customer-Centric Approach

Tata Elxsi prioritizes its customers through a focused approach that drives every aspect of its operation. The company strives to build long-term relationships with clients by understanding their needs and delivering tailored solutions. This commitment is reflected in its customer satisfaction scores, which consistently average above 90%. In addition, Tata Elxsi reported a 30% increase in repeat business over the past two years.

• Customer satisfaction score: 90%+
• Increase in repeat business: 30% in last 2 years
• Top clients: 70 Fortune 500 companies served

3. Sustainability and Responsibility

Sustainability is a critical component of Tata Elxsi's mission statement. The company is committed to minimizing its environmental impact and promoting sustainable practices within its operations. In FY 2023, Tata Elxsi achieved a 25% reduction in carbon emissions per employee. Furthermore, the company has set ambitious targets to achieve net-zero emissions by 2035.

• Reduction in carbon emissions: 25% per employee (FY 2023)
• Net-zero emissions target: 2035
• CSR initiatives: ₹22 crore allocated to community development projects in FY 2023

Vision Statement of Tata Elxsi Limited

Vision Statement Overview

The vision statement of Tata Elxsi Limited emphasizes its commitment to leveraging technology for designing and integrating innovative solutions across various sectors. The focus is on creating a positive impact through engineering and design excellence.

Innovation and Design Leadership

Tata Elxsi aims to lead in innovation and design by employing advanced technology and design processes. The company invests heavily in research and development, allocating approximately 9.1% of its revenue toward R&D initiatives. This strategic focus allows Tata Elxsi to remain at the forefront of technology and design innovation.

Global Reach and Market Expansion

The company envisions expanding its global reach, catering to various sectors including automotive, healthcare, and consumer electronics. As of 2024, Tata Elxsi has a presence in over 30 countries and aims to increase its international footprint by enhancing partnerships with local enterprises and leveraging regional expertise.

Commitment to Sustainability

Sustainability is a core component of Tata Elxsi's vision. The company aligns its operations with global sustainability goals, targeting a 30% reduction in carbon emissions by 2025. In the fiscal year 2023, Tata Elxsi reported a 20% decrease in energy consumption per project, showcasing its efforts towards sustainable practices.

Empowering Communities and Talent Development

Empowering communities and developing talent is central to Tata Elxsi's vision. The company invests in skill development programs, with a target to train over 10,000 professionals by 2025. This commitment not only enhances the workforce but also contributes to socio-economic development in the regions it operates.

Financial Performance and Growth Projections

Tata Elxsi has demonstrated robust financial performance, with a revenue of INR 2,107 crores for the fiscal year 2023, representing a 21% year-over-year growth. The company's net profit stood at INR 458 crores, reflecting a 25% increase compared to the previous year. Projections for 2024 suggest a continued upward trend, anticipating revenue growth of around 15-18%.

Core Values of Tata Elxsi Limited

Integrity

Integrity is a cornerstone of Tata Elxsi's operations. The company emphasizes ethical behavior and transparency in all its dealings.

Tata Elxsi has implemented several initiatives to uphold integrity. For example, the company has a robust code of conduct that governs employee behavior, ensuring adherence to ethical standards. In FY 2022-2023, Tata Elxsi received recognition for its ethical business practices, reflected in its placement on the 2023 Dow Jones Sustainability Index, highlighting its commitment to corporate governance.

Innovation

Innovation drives Tata Elxsi's strategy and operational execution. The company invests heavily in research and development, aiming to create cutting-edge solutions across various sectors.

In FY 2022-2023, Tata Elxsi allocated 12% of its revenue to R&D, translating to approximately INR 1,020 million. The company launched multiple innovative products, such as advanced automotive design solutions and smart healthcare applications, which received accolades in the industry.

Excellence

The pursuit of excellence is key to Tata Elxsi's identity. The company strives to achieve the highest standards in its services and deliverables.

Tata Elxsi has established quality management frameworks that align with international standards, evident in its ISO 9001:2015 certification. The company achieved a customer satisfaction score of 92% in the recent fiscal year, a testament to its commitment to quality and client service.

Collaboration

Collaboration is vital in Tata Elxsi's approach to teamwork and partnerships with clients. The company fosters an environment of shared knowledge and mutual respect.

In 2022, Tata Elxsi partnered with technology leaders to develop integrated solutions for the automotive sector, resulting in the successful launch of an autonomous driving platform. This collaboration has expanded its market reach, contributing to a revenue increase of 18% year-over-year.

Customer Centricity

Customer centricity is at the heart of Tata Elxsi's business model, ensuring that client needs drive its innovations and services.

The company launched the Customer Experience Program in 2023, enhancing customer engagement and feedback mechanisms. This initiative led to a 25% increase in repeat business and significantly improved service delivery times.