On consolidated basis
Quarter ended December 2024 compared
with Quarter ended September 2024.
Net sales (including other operating income) of L&T Technology Services has
increased 3.11% to Rs 2653 crore.
Operating profit margin has jumped
from 18.11% to 18.65%, leading to 6.16% rise in operating profit to Rs 494.70
crore. Employee cost decreased from 53.84% to 52.59%.
Other expenses rose from 28.05% to 28.77%.
Other income fell 48.46% to Rs 33.5
crore. PBIDT fell 0.53% to Rs 528.2 crore. Provision for
interest rose 30.25% to Rs 15.5 crore.
PBDT fell 1.23% to Rs 512.7
crore. Provision for depreciation fell 7.02% to Rs 72.8
crore.
Profit before tax down 0.20% to Rs
439.90 crore. Share of profit/loss were nil in both the
periods. Provision for tax was expense of Rs 120.4 crore, compared
to Rs 120.8 crore. Effective tax rate was 27.37% compared to 27.40%.
Net profit attributable to owners of
the company increased 0.88% to Rs 322.40 crore.
Promoters’ stake was 73.69% as of 31
December 2024 ,compared to 73.69% as of 30 September 2024 .
Quarter ended December 2024 compared with Quarter ended December 2023.
Net sales (including other operating income) of L&T Technology Services has
increased 9.55% to Rs 2653 crore.
Profit before interest, tax and
other unallocable items (PBIT) has jumped 0.67% to Rs 511.30 crore.
Overall PBIT margin fell from 20.97%
to 19.27%.
Operating profit margin has declined
from 20.14% to 18.65%, leading to 1.44% rise in operating profit to Rs 494.70
crore. Employee cost increased from 51.78% to 52.59%.
Other expenses rose from 28.09% to 28.77%.
Other income fell 46.31% to Rs 33.5
crore. PBIDT fell 3.98% to Rs 528.2 crore. Provision for
interest rose 18.32% to Rs 15.5 crore.
PBDT fell 4.53% to Rs 512.7
crore. Provision for depreciation rose 1.82% to Rs 72.8
crore.
Profit before tax down 5.50% to Rs
439.90 crore. Share of profit/loss were nil in both the
periods. Provision for tax was expense of Rs 120.4 crore, compared
to Rs 128.7 crore. Effective tax rate was 27.37% compared to 27.65%.
Net profit attributable to owners of
the company decreased 4.10% to Rs 322.40 crore.
Promoters’ stake was 73.69% as of 31
December 2024 ,compared to 73.75% as of 31 December 2023 .
Year-to-date (YTD) results analysis.
Net sales (including other operating income) of L&T Technology Services has
increased 8.13% to Rs 7687.7 crore.
Profit before interest, tax and
other unallocable items (PBIT) has slumped 0.75% to Rs 1,462.20
crore.
Overall PBIT margin fell from 20.72%
to 19.02%.
Operating profit margin has declined
from 19.92% to 18.43%, leading to 0.06% rise in operating profit to Rs 1,417.00
crore. Employee cost increased from 52.19% to 53.49%.
Other expenses rose from 27.89% to 28.08%.
Other income rose 6.21% to Rs 160.7
crore. PBIDT rose 0.66% to Rs 1577.7 crore. Provision for
interest rose 7.69% to Rs 40.6 crore.
PBDT rose 0.48% to Rs 1537.1
crore. Provision for depreciation rose 13.55% to Rs 223.7
crore.
Profit before tax down 1.45% to Rs
1,313.40 crore. Share of profit/loss were nil in both the
periods. Provision for tax was expense of Rs 360 crore, compared to
Rs 367.9 crore. Effective tax rate was 27.41% compared to 27.61%.
Net profit attributable to owners of
the company decreased 0.73% to Rs 955.70 crore.
Promoters’ stake was 73.69% as of 31
December 2024 ,compared to 73.75% as of 31 December 2023 .
Full year results analysis.
Net sales (including other operating income) of L&T Technology Services has
increased 9.44% to Rs 9647.3 crore.
Profit before interest, tax and
other unallocable items (PBIT) has jumped 7.47% to Rs 2,005.20
crore.
Overall PBIT margin fell from 21.17%
to 20.79%.
Operating profit margin has declined
from 19.98% to 19.89%, leading to 8.98% rise in operating profit to Rs 1,919.00
crore. Employee cost decreased from 52.53% to 51.10%.
Other expenses rose from 27.49% to 29.01%.
Other income rose 1.97% to Rs 207.3
crore. PBIDT rose 8.25% to Rs 2126.3 crore. Provision for
interest rose 14.64% to Rs 50.9 crore. Loan funds rose to Rs 658.80
crore as of 31 March 2024 from Rs 454.20 crore as of 31 March
2023. Inventories rose to Rs 3.30 crore as of 31 March 2024 from Rs
1.60 crore as of 31 March 2023. Sundry debtors were higher at Rs
2,180.30 crore as of 31 March 2024 compared to Rs 2,151.70 crore as of 31 March
2023. Cash and bank balance rose to Rs 1,390.50 crore as of 31 March
2024 from Rs 689.90 crore as of 31 March 2023. Investments declined
from Rs 2,284.00 crore as of 31 March 2023 to Rs 1,492.70 crore as of 31 March
2024.
PBDT rose 8.11% to Rs 2075.4
crore. Provision for depreciation rose 16.17% to Rs 271.6
crore. Fixed assets increased to Rs 1,022.20 crore as of 31 March
2024 from Rs 708.50 crore as of 31 March 2023. Intangible assets
increased from Rs 601.00 crore to Rs 603.50 crore.
Profit before tax grew 6.99% to Rs
1,803.80 crore. Share of profit/loss were nil in both the
periods. Provision for tax was expense of Rs 497.5 crore, compared
to Rs 469.6 crore. Effective tax rate was 27.58% compared to 27.85%.
Minority interest decreased 39.53%
to Rs 2.60 crore. Net profit attributable to owners of the company
increased 7.56% to Rs 1,303.70 crore.
Equity capital increased from Rs
21.10 crore as of 31 March 2023 to Rs 21.20 crore as of 31 March
2024. Per share face Value remained same at Rs 2.00.
Promoters’ stake was 73.74% as of 31
March 2024 ,compared to 73.85% as of 31 March 2023 .
Cash flow from operating activities
increased to Rs 1,492.80 crore for year ended March 2024 from Rs 1,313.00 crore
for year ended March 2023. Cash flow used in acquiring fixed assets
during the year ended March 2024 stood at Rs 252.80 crore, compared to Rs
181.50 crore during the year ended March 2023.
Others:
The company won 8 large deals: one
USD 50 million, two USD 35 million, two USD 25 million, and three USD 10
million deals
Management
Comment:
Commenting on the performance of the
company Mr. Amit Chadha, CEO & Managing Director, L&T Technology
Services, said: “We
had a strong quarter with 3.1% growth in constant currency led by our Tech and Sustainability
segments where the demand outlook has been steadily improving. In Tech, we grew
by 11% sequentially driven by ramp ups in Medtech, Hyperscalers and
Communication providers where we leveraged our SWC capabilities. Sustainability
grew by 4% sequentially helped by plant modernization and automation demand.
Our
large deal TCV has seen a healthy increase with eight wins across segments. The
large deal pipeline continues to be robust aided by ongoing engagements with
customers on both new age product and platform development and business
transformation.
Our
strategy of investing upfront in the first half of the current fiscal has
started yielding results with growth and margin improvement. With the
Intelliswift acquisition now complete, we have formed a new sub-segment called
Software & Platforms through which we will strengthen our foothold in
Hyperscalers and enter the Service-led sectors namely Retail, Fintech and Healthcare
which are new and promising markets for us. This strategic move enhances our AI,
digital and software product engineering capabilities, increasing our ability
to deliver greater value to clients through a unified offering.
During
the quarter, we inaugurated the NVIDIA AI Experience Zone at our Bengaluru
design hub, enhancing AI capabilities for clients in Mobility and Tech. With
174 patents filed in AI/Gen AI applications, we reaffirm our commitment to AI
led innovation,”
| L&T Technology Services : Consolidated Results | | | Quarter ended | Year to Date | Year ended |
|---|
| Particulars | 202412 | 202312 | Var.(%) | 202412 | 202312 | Var.(%) | 202403 | 202303 | Var.(%) |
|---|
| Net Sales (including other operating income) | 2,653.00 | 2,421.80 | 9.55 | 7,687.70 | 7,109.70 | 8.13 | 9,647.30 | 8,815.50 | 9.44 | | OPM (%) | 18.65 | 20.14 | -149 bps | 18.43 | 19.92 | -149 bps | 19.89 | 19.98 | -8 bps | | OP | 494.70 | 487.70 | 1.44 | 1,417.00 | 1,416.10 | 0.06 | 1,919.00 | 1,760.90 | 8.98 | | Other Inc. | 33.50 | 62.40 | -46.31 | 160.70 | 151.30 | 6.21 | 207.30 | 203.30 | 1.97 | | PBIDT | 528.20 | 550.10 | -3.98 | 1,577.70 | 1,567.40 | 0.66 | 2,126.30 | 1,964.20 | 8.25 | | Interest | 15.50 | 13.10 | 18.32 | 40.60 | 37.70 | 7.69 | 50.90 | 44.40 | 14.64 | | PBDT | 512.70 | 537.00 | -4.53 | 1,537.10 | 1,529.70 | 0.48 | 2,075.40 | 1,919.80 | 8.11 | | Depreciation | 72.8 | 71.5 | 1.82 | 223.7 | 197 | 13.55 | 271.6 | 233.8 | 16.17 | | PBT | 439.90 | 465.50 | -5.50 | 1313.4 | 1332.7 | -1.45 | 1803.8 | 1686 | 6.99 | | Share of Profit/(Loss) from Associates | 0 | 0 | - | 0 | 0 | - | 0 | 0 | - | | PBT before EO | 439.9 | 465.5 | -5.50 | 1313.4 | 1332.7 | -1.45 | 1803.8 | 1686 | 6.99 | | EO Income | 0 | 0 | - | 0 | 0 | - | 0 | 0 | - | | PBT after EO | 439.9 | 465.5 | -5.50 | 1313.4 | 1332.7 | -1.45 | 1803.8 | 1686 | 6.99 | | Taxation | 120.4 | 128.7 | -6.45 | 360 | 367.9 | -2.15 | 497.5 | 469.6 | 5.94 | | PAT | 319.5 | 336.8 | -5.14 | 953.4 | 964.8 | -1.18 | 1306.3 | 1216.4 | 7.39 | | Minority Interest (MI) | -2.9 | 0.6 | LP | -2.3 | 2.1 | LP | 2.6 | 4.3 | -39.53 | | Net profit | 322.4 | 336.2 | -4.10 | 955.7 | 962.7 | -0.73 | 1303.7 | 1212.1 | 7.56 | | P/(L) from discontinued operations net of tax | 0 | 0 | - | 0 | 0 | - | 0 | 0 | - | | Net profit after discontinued operations | 322.4 | 336.2 | -4.10 | 955.7 | 962.7 | -0.73 | 1303.7 | 1212.1 | 7.56 | | EPS (Rs)* | 30.45 | 31.76 | -4.10 | 90.27 | 90.93 | -0.73 | 123.14 | 114.49 | 7.56 | | | * EPS is on current equity of Rs 21.17 crore, Face value of Rs 2, Excluding extraordinary items. | | # EPS is not annualised | | bps : Basis points | | EO : Extraordinary items | | Figures in Rs crore | | Source: Capitaline Corporate Database |
|
| L&T Technology Services : Consolidated Segment Results | td>-| | Quarter ended | Year to Date | Year ended |
|---|
| % of (Total) | 202412 | 202312 | Var.(%) | % of (Total) | 202412 | 202312 | Var.(%) | % of (Total) | 202403 | 202303 | Var.(%) |
|---|
| Sales | | Transportation | 0.00 | 0.00 | 804.20 | - | | Process Engineering | 0.00 | 0.00 | 339.40 | - | | Industrial Products | 0.00 | 0.00 | 415.50 | - | | Medical Devices | 0.00 | 0.00 | 248.00 | - | | Telecom | 0.00 | 0.00 | 614.70 | - | | Mobility | 32.33 | 857.80 | 0.00 | - | | Sustainability | 31.13 | 826.00 | 0.00 | - | | Hi-Tech | 36.53 | 969.20 | 0.00 | - | | Total Reported Sales | 100.00 | 2,653.00 | 2,421.80 | 9.55 | 100.00 | 7,687.70 | 7,109.70 | 8.13 | 100.00 | 9,647.30 | 8,815.50 | 9.44 | | Less: Inter segment revenues | | 0.00 | 0.00 | - | | 0.00 | 0.00 | | 0.00 | 0.00 | - | | Net Sales | 100.00 | 2,653.00 | 2,421.80 | 9.55 | 100.00 | 7,687.70 | 7,109.70 | 8.13 | 100.00 | 9,647.30 | 8,815.50 | 9.44 | | PBIT | | Transportation | 0.00 | 0.00 | 163.90 | - | | Process Engineering | 0.00 | 0.00 | 91.90 | - | | Industrial Products | 0.00 | 0.00 | 123.40 | - | | Medical Devices | 0.00 | 0.00 | 67.40 | - | | Telecom | 0.00 | 0.00 | 61.30 | - | | Mobility | 32.19 | 164.60 | 0.00 | - | | Sustainability | 40.00 | 204.50 | 0.00 | - | | Hi-Tech | 27.81 | 142.20 | 0.00 | - | | Total PBIT | 100.00 | 511.30 | 507.90 | 0.67 | 100.00 | 1,462.20 | 1,473.30 | -0.75 | 100.00 | 2,005.20 | 1,865.90 | 7.47 | | Less : Interest | | 15.50 | 13.10 | 18.32 | | 40.60 | 37.70 | 7.69 | | 50.90 | 44.40 | 14.64 | | Add: Other un-allcoable | | -55.90 | -29.30 | -90.78 | | -108.20 | -102.90 | -5.15 | | -150.50 | -135.50 | -11.07 | | PBIT Margin(%) | | Transportation | | 0.00 | 20.38 | -2,038.05 | | 0.00 | 19.49 | -1,948.94 | | 0.00 | 19.35 | -1,935.39 | | Process Engineering | | 0.00 | 27.08 | -2,707.72 | | 0.00 | 25.68 | -2,567.87 | | 0.00 | 26.96 | -2,695.58 | | Industrial Products | | 0.00 | 29.70 | -2,969.92 | | 0.00 | 29.94 | -2,994.17 | | 0.00 | 29.78 | -2,978.31 | | Medical Devices | | 0.00 | 27.18 | -2,717.74 | | 0.00 | 30.68 | -3,068.21 | | 0.00 | 32.51 | -3,250.57 | | Telecom | | 0.00 | 9.97 | -997.23 | | 0.00 | 9.31 | -930.53 | | 0.00 | 10.34 | -1,033.59 | | Mobility | | 19.19 | 0.00 | 1,918.86 | | 19.18 | 0.00 | 1,918.44 | | 19.62 | 0.00 | 1,961.85 | | Sustainability | | 24.76 | 0.00 | 2,475.79 | | 25.71 | 0.00 | 2,571.23 | | 28.23 | 0.00 | 2,822.55 | | Hi-Tech | | 14.67 | 0.00 | 1,467.19 | | 13.00 | 0.00 | 1,299.89 | | 15.48 | 0.00 | 1,547.83 | | PBT | 100.00 | 439.90 | 465.50 | -5.50 | 100.00 | 1,313.40 | 1,332.70 | -1.45 | 100.00 | 1,803.80 | 1,686.00 | 6.99 |
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