L&T Technology Serv.

₹4360.9 -41 | 0.9%

WEBSITE BSE:540115 NSE : LTTS 10 May, 16:01

Market Cap ₹46120 Cr.

Stock P/E 35.3

P/B 8.7

Current Price ₹4360.9

Book Value ₹ 503.7

Face Value 2

52W High ₹5885

Dividend Yield 1.15%

52W Low ₹ 3744.1

Edit Ratio

L&T Technology Serv. Research see more...

Overview Inc. Year: 2012Industry: IT - Software

L&T Technology Services Limited is an primarily India-based engineering research and development services enterprise. The Company is engaged in providing a number of engineering offerings and related technologies within the regions of embedded structures, mechanical and others. Its segments include Transportation, Process Engineering, Industrial Products, Medical gadgets and Telecom. The Company additionally acts as a service provider to organizations in India and abroad. It gives services, along with embedded system and packages; engineering system offerings; mechanical engineering; product lifecycle management (PLM), and consulting offerings. It also gives solutions, inclusive of engineering analytics; Internet of Things and system to machine; energy electronics, and semiconductor Internet protocol (IP) solutions. The Company exports engineering and design services to North America, Europe, the Middle East, Japan, Korea and different Asia-Pacific (APAC) countries. The Company is a subsidiary of L& T Ltd.

L&T Technology Serv. Share Price

New

Volume

Price

Price: NSE50 DMA200 DMAVolume

Quarterly Price

Quarterly Monthly

Show Value Show %

Peer Comparison

L&T Technology Serv. Quarterly Results

#(Fig in Cr.)	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024
Net Sales	1688	1756	2006	2282	2157	2371	2301	2387	2422	2538
Other Income	37	42	41	39	74	50	48	41	62	56
Total Income	1725	1798	2047	2320	2231	2421	2349	2428	2484	2594
Total Expenditure	1320	1376	1599	1844	1721	1890	1849	1911	1934	2035
Operating Profit	404	422	449	476	509	531	501	517	550	559
Interest	11	11	11	11	12	11	12	13	13	13
Depreciation	53	53	59	59	59	57	57	68	72	75
Exceptional Income / Expenses	0	0	0	0	0	0	0	0	0	0
Profit Before Tax	340	359	379	406	439	462	431	436	466	471
Provision for Tax	91	96	102	106	141	121	119	120	129	130
Profit After Tax	250	263	276	301	298	341	312	316	337	341
Adjustments	-1	-1	-1	-1	-1	-1	-1	-1	-1	-1
Profit After Adjustments	249	262	275	300	297	340	311	315	336	341
Adjusted Earnings Per Share	23.6	24.8	26.1	28.4	28.1	32.2	29.5	29.9	31.9	32.2

L&T Technology Serv. Profit & Loss

#(Fig in Cr.)	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	TTM
Net Sales	2619	3066	3248	3747	5078	5619	5450	6570	8014	9648
Other Income	25	85	79	206	223	211	194	185	223	207
Total Income	2644	3151	3328	3953	5301	5830	5644	6755	8236	9855
Total Expenditure	2220	2547	2684	3184	4164	4511	4483	5188	6318	7729
Operating Profit	424	604	644	769	1138	1320	1161	1567	1919	2127
Interest	3	3	2	2	2	37	46	44	44	51
Depreciation	48	59	63	89	104	183	218	214	232	272
Exceptional Income / Expenses	0	0	0	0	0	0	0	0	0	0
Profit Before Tax	372	543	579	678	1031	1100	897	1309	1644	1804
Provision for Tax	61	124	154	171	263	278	231	349	470	498
Profit After Tax	311	419	425	507	768	822	667	961	1174	1306
Adjustments	-0	1	-0	-1	-3	-4	-3	-4	-4	-4
Profit After Adjustments	311	419	425	506	766	819	663	957	1170	1303
Adjusted Earnings Per Share	33.7	55.9	41.9	49.4	73.6	78.3	63.2	90.7	110.9	123.5

Growth Rates

#	1 Year	3 Year	5 Year	10 Year
Sales CAGR	22%	13%	16%	0%
Operating Profit CAGR	22%	13%	20%	0%
PAT CAGR	22%	13%	18%	0%

#	1 Year	3 Year	5 Year	10 Year
Share Price CAGR	14%	20%	21%	NA%
ROE Average	26%	24%	28%	51%
ROCE Average	37%	34%	38%	38%

L&T Technology Serv. Balance Sheet

#(Fig in Cr.)	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Shareholder's Funds	1052	1066	1486	1936	2479	2769	3473	4163	4951
Minority's Interest	0	-1	-0	0	3	7	10	14	18
Borrowings	0	0	0	0	0	0	0	0	0
Other Non-Current Liabilities	-30	-106	-32	-23	7	458	485	528	421
Total Current Liabilities	755	1010	747	764	863	1039	1098	1373	1514
Total Liabilities	1778	1969	2199	2678	3352	4272	5066	6077	6904
Fixed Assets	569	621	614	709	780	1174	1282	1283	1294
Other Non-Current Assets	72	51	146	108	200	189	281	469	469
Total Current Assets	1136	1298	1440	1861	2372	2910	3503	4325	5141
Total Assets	1778	1969	2199	2678	3352	4272	5066	6077	6904

L&T Technology Serv. Cash Flow

#(Fig in Cr.)	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Opening Cash & Cash Equivalents	29	115	83	71	152	203	213	178	237
Cash Flow from Operating Activities	289	528	388	409	806	638	1333	1006	1305
Cash Flow from Investing Activities	-667	-176	-178	-196	-509	-222	-1005	-448	-572
Cash Flow from Financing Activities	464	-383	-222	-132	-245	-406	-363	-498	-444
Net Cash Inflow / Outflow	86	-32	-12	81	52	10	-36	60	290
Closing Cash & Cash Equivalent	115	83	71	152	203	213	178	237	527

L&T Technology Serv. Ratios

#	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Earnings Per Share (Rs)	33.7	55.88	41.86	49.37	73.62	78.33	63.17	90.71	110.88
CEPS(Rs)	47.94	63.67	48.03	58.09	83.9	96.2	84.27	111.37	133.23
DPS(Rs)	1.05	1.51	7	16	21	21	22	35	45
Book NAV/Share(Rs)	40.28	42.15	143.31	183.67	235.07	261.55	327.94	392.78	460.39
Core EBITDA Margin(%)	15.23	16.94	17.38	15.02	18.01	19.73	17.74	21.04	21.16
EBIT Margin(%)	14.34	17.77	17.9	18.15	20.35	20.23	17.3	20.59	21.05
Pre Tax Margin(%)	14.21	17.69	17.83	18.09	20.31	19.58	16.47	19.93	20.51
PAT Margin (%)	11.88	13.65	13.08	13.52	15.13	14.64	12.23	14.62	14.65
Cash Profit Margin (%)	13.73	15.57	15.01	15.89	17.18	17.89	16.24	17.89	17.54
ROA(%)	17.5	22.34	20.39	20.77	25.49	21.57	14.27	17.24	18.09
ROE(%)	102.98	135.42	48	30.36	35.51	31.77	21.58	25.32	26.09
ROCE(%)	29.55	43.04	40.81	37.85	45.36	42.51	30.06	35.44	37.03
Receivable days	95.52	84	80.71	81.48	72.83	79.41	87.58	81.41	78.02
Inventory Days	0	0	0	0	0	0	0	0	0
Payable days	0	0	0	0	0	0	0	0	0
PER(x)	0	0	18.69	25.11	21.34	14.84	42.03	56.25	30.45
Price/Book(x)	0	0	5.46	6.75	6.68	4.44	8.1	12.99	7.33
Dividend Yield(%)	0	0	0.89	1.29	1.34	1.81	0.83	0.69	1.33
EV/Net Sales(x)	0.44	0.38	2.46	3.37	3.19	2.12	5.07	8.09	4.36
EV/Core EBITDA(x)	2.72	1.92	12.39	16.41	14.25	9.04	23.81	33.91	18.21
Net Sales Growth(%)	0	17.09	5.94	15.36	35.53	10.65	-3.01	20.55	21.98
EBIT Growth(%)	0	45.13	6.66	17.01	51.91	10.01	-17.06	43.5	24.71
PAT Growth(%)	0	34.55	1.53	19.2	51.68	7.03	-18.96	44.13	22.23
EPS Growth(%)	0	65.84	-25.09	17.93	49.12	6.41	-19.36	43.59	22.24
Debt/Equity(x)	0.21	0.18	0.07	0.04	0.03	0.01	0	0	0
Current Ratio(x)	1.5	1.29	1.93	2.44	2.75	2.8	3.19	3.15	3.4
Quick Ratio(x)	1.5	1.29	1.93	2.44	2.75	2.8	3.19	3.15	3.4
Interest Cover(x)	110.97	218	276.81	283.42	543.84	31.14	20.72	30.96	38.79
Total Debt/Mcap(x)	0	0	0.01	0.01	0	0	0	0	0

L&T Technology Serv. Shareholding Pattern

#	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024
Promoter	73.93	73.9	73.88	73.87	73.85	73.85	73.8	73.77	73.75	73.74
FII	9.23	7.14	6.34	6.04	7.22	6.69	5.31	5.9	5.63	5.51
DII	5.43	5.2	4.09	7.99	7.69	8.4	10.37	10.78	11.33	12.09
Public	11.41	13.76	15.69	12.1	11.24	11.06	10.51	9.55	9.28	8.65
Others	0	0	0	0	0	0	0	0	0	0
Total	100	100	100	100	100	100	100	100	100	100

#	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024
Promoter	7.8	7.8	7.8	7.8	7.8	7.8	7.8	7.8	7.8	7.8
FII	0.97	0.75	0.67	0.64	0.76	0.71	0.56	0.62	0.6	0.58
DII	0.57	0.55	0.43	0.84	0.81	0.89	1.1	1.14	1.2	1.28
Public	1.2	1.45	1.66	1.28	1.19	1.17	1.11	1.01	0.98	0.91
Others	0	0	0	0	0	0	0	0	0	0
Total	10.55	10.55	10.56	10.56	10.56	10.56	10.57	10.57	10.57	10.58

Pros

Company has a good return on equity (ROE) track record: 3 Years ROE 24%
Company is almost debt free.

Cons

Stock is trading at 8.7 times its book value.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.