Tata Technologies Ltd. share price target

Tata Technologies (TTL) reported revenue of USD153m in 3QFY26, up 2.3% QoQ in CC terms vs. our estimate of 1.0% QoQ in CC. Services segment revenue stood at USD118.6m, rising 3.8% QoQ in CC (organic 1.0% CC).

Tata Technologies has delivered a moderate financial performance in Q1FY26, impacted by uncertain macroeconomic conditions and policy-related pressure on sentiments, resulting in margin compression. Despite these challenges, the company expects a sequential recovery in Q2 and a stronger H2FY26. This optimism is driven by a stronger deal pipeline compared with last year and an early build-up of the order book, which provides increased revenue visibility and...

automotive vertical. Although the aerospace momentum continued through Q1, the weakness in the Heavy-Machinery segment led the decline (4.7% QoQ) in non-Auto business. The management anticipates recovery in Q2 on the back of strategic deals signings, while early green shoots are visible in term of improved client sentiment and robust order book, hinting to a better H2 over...

Tata Technologies’ (TATATECH) revenue declined 7.6% QoQ CC in its core services segment. Growth was impacted as OEMs delayed ramp-ups and paused R&D spends amid tariff-led challenges.

Tata Technologies (TATATECH) has reported a sharp QoQ revenue decline of 4.7% USD in Q4FY25, similar to revenue contraction reported by Cyient-DET (-3% QoQ) and Tata Elxsi (-5.5%), due to: Sharp drop in technology solutions segment -15.6%, slump in auto segment -2.7%.

Special emphasis has been put on deepening partnership with OEM ecosystem stakeholders to speed up the transition to software/ SDV portfolio. It has also added marquee names to client roster to limit the downside from VinFast ramp-down.

Tata Technologies (TATATECH) offers an opportune entry into the fastest-growing auto-Engineering, Research & Development (ER&D) segment (vs. IT services peers).

After a 19-year hiatus, the Tata Group is back with its Tata Technologies IPO. The IPO was subscribed 69.4 times at the close of the issue. Known for a diverse portfolio that spans from salt to software, the Tata conglomerate has been a key player in India's growth story, boasting 17 listed companies and a staggering market capitalization of 25 lakh crore.

Tata Technologies is a global engineering and product development digital services company providing services to the global manufacturing industry. It is a subsidiary of
Tata Motors Limited. The company caters to industries such as Automotive, Defense, Aerospace & Heavy Machinery.

Tata Technologies is a global engineering and product development digital services company providing services to the global manufacturing industry. It is a subsidiary of
Tata Motors Limited. The company caters to industries such as Automotive, Defense, Aerospace & Heavy Machinery.

Issue Snapshot: Issue Open: November 22 November 24, 2023 Price Band: Rs. 475 500 *Issue Size: 60,850,278 eq sh (Entirely Offer for Sale (including employee reservation of upto 2,028,342 eq sh + Reservation of Upto 6,085,027 eq sh for TML Shareholders) Reservation for: QIB upto 50% eq sh Non-Institutional atleast 15% eq sh ((including 1/3rd for applications between Rs.2 lakhs to Rs.10 lakhs)) Retail atleast 35% eq sh Face Value: Rs 2 Book value: Rs 70.27 (September 30, 2023) Bid size: - 30 equity shares and in multiples thereof 100% Book built Issue Tata Technologies Limited-IPO Note-22112023

Issue Snapshot: Issue Open: November 22 November 24, 2023 Price Band: Rs. 475 500 *Issue Size: 60,850,278 eq sh (Entirely Offer for Sale (including employee reservation of upto 2,028,342 eq sh + Reservation of Upto 6,085,027 eq sh for TML Shareholders) Reservation for: QIB upto 50% eq sh Non-Institutional atleast 15% eq sh ((including 1/3rd for applications between Rs.2 lakhs to Rs.10 lakhs)) Retail atleast 35% eq sh Face Value: Rs 2 Book value: Rs 70.27 (September 30, 2023) Bid size: - 30 equity shares and in multiples thereof 100% Book built Issue Tata Technologies Limited

IPO NOTE