- Tata Elxsi has joined Digital Therapeutics Alliance for transforming global healthcare through the advancement of digital therapeutics
- The company is focusing on application areas that are expected to grow rapidly, owing to broad and long-term trends in digital technology
- The company has expanded its portfolio of patents and intellectual property solutions across industry segments
Tata Elxsi has joined the Digital Therapeutics Alliance, which is dedicated to transforming global healthcare through the advancement of digital therapeutics. The alliance will benefit Tata Elxsi’s Healthcare & Life Sciences Business by improving clinical and health economic outcomes.
The collaboration will provide Tata Elxsi with a defining opportunity to advance global digital therapeutics development and adoption. Tata Elxsi is developing strong solution or speeding up the development and deployment of DTx solutions.
Tata Elxsi gains a strong platform to engage in deeper collaboration and incorporate the most recent innovations in design and technology to improve patient engagement and outcomes. The Digital Therapeutics Alliance (DTA) is a non-profit industry organisation whose mission is to increase understanding, adoption, and integration of digital therapeutics into healthcare.
Tata Elxsi’s Board of Directors will meet on Friday, October 14, 2022 to approve the September quarter results. Tata Elxsi experienced overall growth across industries and key geographies during 2021-22. The healthcare industry has continued to expand rapidly. The company is a technology and engineering leader in the automotive industry. This is evident from the fact that the Company experienced a sustained recovery in the automotive market during 2021-22 and won strategic deals in EV and autonomous technologies with both OEMs and suppliers.
In its key verticals, the company has the ability to support customers’ product and technology transformation agendas, and it has won strategic deals in digital health, OTT, and video platform. The Company’s operating revenue in 2021-22 was Rs. 2,471 crores.
The company is focusing on application areas that are expected to grow rapidly, owing to broad and long-term trends in digital technology. Tata Elxsi is a pioneer in emerging technology areas such as autonomous systems, securely connected machines and personal devices, and robotics. The company is working on the digitalization and electrification of automobiles, advanced communications equipment, connected healthcare platforms and networks, and connected healthcare networks.
Revenues from operations were Rs. 725.9 Cr in the first quarter of 2023, representing a 6.5% increase on a quarterly basis in constant currency and a 30.0% increase year on year. Profit after tax increased 15.4% quarter on quarter and 62.9% year on year to 184.7 Cr. The company’s growth was primarily driven by volume, with all three segments, EPD, IDV, and SIS, posting strong QoQ growth of 6.2%, 6.6%, and 19.8%, respectively.
The company has expanded its portfolio of patents and intellectual property solutions across industry segments. It has invested in intellectual property (IP) such as TEPlay, FalconEye, iCX, QoEtient, and Autonomai. This demonstrates the company’s commitment to delivering digital engineering-led transformation to its clients. The company is actively forming partnerships and alliances with leading companies around the world in order to provide the best value proposition to its customers.
The Company has launched iGNITE to foster future design thinkers and innovators for sustainability. It is an international design and innovation competition for sustainable design. The company had previously launched the contest on June 29th, coinciding with World Industrial Design Day.
Company has best in class corporate Governance. Under the able leadership of Mr N. Ganapathy Subramaniam, Chairman, Mr Manoj Raghavan, Managing Director & CEO and parentage of Tata Group, Tata Elxsi is constantly creating value for all its stakeholders.
Staff Galactik Views