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Tata Elxsi - Improving Growth Visibility; High Valuations: HDFC Securities

We factor 16% EPS CAGR over FY24-26E and value Tata Elxsi at 38 times FY26E EPS (currently trading at 41 times FY26E).

<div class="paragraphs"><p>Tata Elxsi office. (Source: Company website)</p></div>
Tata Elxsi office. (Source: Company website)
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