Larsen & Toubro Infotech Ltd

Larsen & Toubro Infotech offers extensive range of IT services like application development, maintenance and outsourcing, enterprise solutions, infrastructure management services, testing, digital solutions and platform-based solutions to the clients in diverse industries.(Source : 201903 Annual Report Page No: 91)

Pros:
Company is virtually debt free.
Company has a good return on equity (ROE) track record: 3 Years ROE 34.09%
Company has been maintaining a healthy dividend payout of 31.52%
Cons:

Peer Comparison Sector: IT - Software // Industry: Computers - Software - Medium / Small

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Quarterly Results Consolidated Figures in Rs. Crores / View Standalone

Dec 2016 Mar 2017 Jun 2017 Sep 2017 Dec 2017 Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019
1,667 1,677 1,671 1,751 1,884 2,001 2,156 2,331 2,473 2,486 2,485 2,571
1,365 1,358 1,391 1,457 1,562 1,709 1,737 1,852 1,964 2,009 2,027 2,105
Operating Profit 302 319 280 294 322 292 419 479 509 477 458 466
OPM % 18% 19% 17% 17% 17% 15% 19% 21% 21% 19% 18% 18%
Other Income 61 52 112 105 92 117 107 97 31 67 101 94
Interest 1 2 4 4 4 5 3 2 2 3 20 20
Depreciation 47 42 39 41 40 36 38 37 36 37 61 66
Profit before tax 315 328 349 355 370 368 485 537 502 504 478 473
Tax % 21% 22% 23% 23% 23% 21% 26% 25% 25% 25% 26% 24%
Net Profit 248 254 267 273 283 290 361 400 376 379 356 360
EPS in Rs 14.57 14.92 15.66 15.95 16.49 16.84 21.00 23.14 21.67 21.86 20.51 20.73
Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes

Profit & Loss Consolidated Figures in Rs. Crores / View Standalone

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 TTM
3,182 3,851 4,920 4,978 5,846 6,501 7,306 9,446 10,014
2,492 2,981 3,773 3,973 4,819 5,271 6,119 7,562 8,106
Operating Profit 690 870 1,147 1,005 1,028 1,230 1,187 1,883 1,909
OPM % 22% 23% 23% 20% 18% 19% 16% 20% 19%
Other Income 10 22 217 99 187 187 426 302 293
Interest 34 21 31 10 6 3 16 11 44
Depreciation 105 123 130 158 174 178 156 147 200
Profit before tax 560 749 1,204 936 1,035 1,236 1,442 2,028 1,958
Tax % 25% 25% 17% 18% 19% 21% 23% 25%
Net Profit 419 562 996 769 836 971 1,112 1,516 1,470
EPS in Rs 117.21 158.76 279.90 210.20 43.02 55.14 64.65 87.12 84.77
Dividend Payout % 61% 54% 55% 63% 72% 29% 33% 32%
* Sales is net of excise duty and discounts
Compounded Sales Growth
10 Years:%
5 Years:13.93%
3 Years:17.34%
TTM:19.62%
Compounded Profit Growth
10 Years:%
5 Years:8.76%
3 Years:21.84%
TTM:10.25%
Stock Price CAGR
10 Years:%
5 Years:%
3 Years:41.19%
1 Year:9.70%
Return on Equity
10 Years:%
5 Years:36.03%
3 Years:34.09%
Last Year:34.63%

Balance Sheet Consolidated Figures in Rs. Crores / View Standalone

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Sep 2019
16 16 16 16 17 17 17 17 17
Reserves 1,089 1,323 1,594 2,010 2,108 3,127 3,843 4,876 5,107
Borrowings 269 234 110 218 55 0 0 0 0
754 793 980 814 1,045 1,439 1,617 1,921 2,483
Total Liabilities 2,128 2,366 2,701 3,058 3,224 4,583 5,477 6,815 7,607
632 699 649 683 638 542 681 930 1,726
CWIP 108 142 57 25 20 1 7 12 16
Investments 59 49 169 104 43 941 1,264 1,740 1,832
1,329 1,475 1,826 2,246 2,524 3,099 3,525 4,133 4,032
Total Assets 2,128 2,366 2,701 3,058 3,224 4,583 5,477 6,815 7,607

Cash Flows Consolidated Figures in Rs. Crores / View Standalone

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019
336 608 628 642 858 1,170 844 1,395
-97 -224 180 -103 -40 -961 -452 -749
-253 -396 -769 -497 -817 -33 -408 -594
Net Cash Flow -14 -13 40 42 2 176 -16 52

Ratios Consolidated Figures in Rs. Crores / View Standalone

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019
ROCE % 52% 75% 48% 47% 46% 42% 47%
Debtor Days 79 70 69 80 73 66 70 71
Inventory Turnover