Revenue, Margin Performance Heartening; Improved Disclosure Key Positive Tata Elxsi (TEL) posted improved performance in 2QFY20, with revenue up by a healthy 6.7% QoQ to Rs3.86bn. The key SDS segment saw a solid 6.1% QoQ revenue growth, which comes after two successive sequential declines. On the other hand, SIS revenue rose 28.5% QoQ on a low base. Within SDS, EPD revenue rose 5.3% QoQ, while IDV rose 11.3% QoQ. TEL has started disclosing more detailed operating metrics in terms of verticals, geographies, delivery-wise revenue, employee and client data, which we believe enabled a more granular understanding of its business. Within EPD, growth was led by the key Transportation vertical, which rose 9.2%...