There is a common perception that Tata Elxsi or LTTS are similar businesses when compared to other IT services companies like Infosys,Birlasoft or a coforge. But the truth is that these businesses come under a category of Engineering and R&D businesses. These service providers aren’t like a typical IT services company. We like to call them “CRADS” Businesses i.e. basically, Contract Research and Development services for different products and verticals like medical devices, lifesciences, Electric Vehicles etc. We find these businesses to be similar to what