The company’s EBITDA stood at Rs 240 crore, up 1.4 percent from Rs 236.6 crore while its EBIT stood at 18.4 per cent versus 18.3 per cent.

Tata’s global engineering services company, Tata Technologies reported a 27.41 per cent decline in consolidated net profit for Q4FY24 to Rs 157.24 crore as against Rs 216.56 crore in the corresponding period of the previous fiscal year. The consolidated revenue from operations reduced by 7.2 per cent YoY to Rs 1,301 crore from Rs 1,402.40 crore YoY.

In USD terms, total operating revenues came in higher by 1.2 percent sequentially to $156.6 million. Services segment revenues came in at $120.2 million.

Tata Technologies Share Price Target

Domestic brokerage JM Financial is of the view that the company has more growth engines now than a few years back. The brokerage maintained its ‘buy’ rating on the stock with a 1-year target price of Rs 1410, suggesting a potential upside of 30 percent.

Global brokerage BofA, continues with a buy rating on the stock with a target price of Rs 1,250 per share. 

The global brokerage JP Morgan maintained its ‘underweight’ rating after its weak Q4 results. The brokerage has given target price of Rs 800.

Tata Technologies Dividend 2024

Tata Technologies has announced a final as well as special dividend of 502.5 per cent, which translates to a payout of Rs 10.05 on a face value of Rs 2. 

“Recommend a final dividend of Rs 8.40 and special dividend of Rs 1.65 per Equity share of Rs 2 each,” said the company in the exchange filing.

(Disclaimer: The above article is meant for informational purposes only, and should not be considered as any investment advice.)