LTI Mindtree Ltd

₹ 4,570 4.15%
02 Feb 2:03 p.m.
About

Larsen & Toubro Infotech Ltd 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.[1]

Key Points

Merger with Mindtree[1]
LTI and Mindtree Ltd (Mindtree), on May 06, 2022, announced the proposal to merge Mindtree into LTI through a scheme of amalgamation as approved by the respective boards of the companies. The shareholders of Mindtree will receive 73 shares of LTI (face value of Rs 1 each) in exchange for 100 shares of Mindtree (face value of Rs 10 each)

  • Market Cap 135,187 Cr.
  • Current Price 4,570
  • High / Low 6,525 / 3,733
  • Stock P/E 39.1
  • Book Value 311
  • Dividend Yield 1.01 %
  • ROCE 35.7 %
  • ROE 28.5 %
  • Face Value 1.00

Pros

  • Company is almost debt free.
  • Company is expected to give good quarter
  • Company has a good return on equity (ROE) track record: 3 Years ROE 29.4%
  • Company has been maintaining a healthy dividend payout of 36.7%

Cons

  • Stock is trading at 14.7 times its book value
  • Promoter holding has decreased over last quarter: -5.31%

* 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.

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022
2,811 3,012 2,949 2,998 3,153 3,269 3,462 3,767 6,881 4,302 4,523 8,228 8,620
2,283 2,434 2,357 2,313 2,421 2,554 2,815 3,034 5,454 3,455 3,692 6,592 7,245
Operating Profit 528 578 592 686 732 716 648 733 1,426 846 831 1,636 1,375
OPM % 19% 19% 20% 23% 23% 22% 19% 19% 21% 20% 18% 20% 16%
64 70 66 37 69 103 122 111 166 134 144 161 152
Interest 21 22 21 19 20 19 18 17 31 19 17 38 38
Depreciation 71 75 78 90 82 83 80 85 152 102 106 196 178
Profit before tax 500 551 559 613 699 717 672 742 1,409 860 851 1,563 1,311
Tax % 25% 22% 26% 25% 26% 24% 26% 26% 25% 26% 25% 24% 24%
Net Profit 377 428 416 457 519 546 497 552 1,050 638 634 1,189 1,001
EPS in Rs 21.68 24.51 23.92 26.10 29.70 31.20 28.39 31.48 59.90 36.34 36.13 67.77 33.82
Raw PDF

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 Mar 2020 Mar 2021 Mar 2022 TTM
3,182 3,851 4,920 4,978 5,846 6,501 7,306 9,446 10,879 12,370 15,669 25,672
2,493 2,981 3,773 3,973 4,819 5,271 6,119 7,562 8,849 9,645 12,610 20,985
Operating Profit 689 870 1,147 1,005 1,028 1,230 1,187 1,883 2,029 2,725 3,058 4,688
OPM % 22% 23% 23% 20% 18% 19% 16% 20% 19% 22% 20% 18%
10 22 217 99 187 187 426 302 329 274 467 591
Interest 34 21 31 10 6 3 16 11 83 79 73 112
Depreciation 105 123 130 158 174 178 156 147 273 332 355 582
Profit before tax 560 749 1,204 936 1,035 1,236 1,442 2,028 2,003 2,588 3,097 4,584
Tax % 25% 25% 17% 18% 19% 21% 23% 25% 24% 25% 26%
Net Profit 419 562 996 769 836 971 1,112 1,516 1,520 1,938 2,298 3,462
EPS in Rs 130.03 174.14 308.96 238.30 49.25 56.91 64.65 87.37 87.30 110.79 131.04 174.06
Dividend Payout % 61% 54% 55% 63% 72% 29% 33% 32% 32% 36% 42%
Compounded Sales Growth
10 Years: 17%
5 Years: 19%
3 Years: 18%
TTM: 48%
Compounded Profit Growth
10 Years: 19%
5 Years: 19%
3 Years: 15%
TTM: 31%
Stock Price CAGR
10 Years: %
5 Years: 29%
3 Years: 31%
1 Year: -31%
Return on Equity
10 Years: 34%
5 Years: 31%
3 Years: 29%
Last Year: 29%

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 Mar 2020 Mar 2021 Mar 2022 Sep 2022
16 16 16 16 17 17 17 17 17 18 18 18
Reserves 1,089 1,323 1,594 2,010 2,108 3,127 3,843 4,876 5,387 7,286 8,797 9,175
269 234 110 218 55 0 0 0 912 798 836 824
715 756 945 734 958 1,273 1,477 1,770 2,499 2,604 2,809 2,837
Total Liabilities 2,089 2,328 2,666 2,978 3,137 4,417 5,337 6,664 8,815 10,706 12,459 12,853
632 699 649 683 638 542 681 930 1,920 1,906 2,098 2,063
CWIP 108 142 57 25 20 1 7 12 59 66 481 652
Investments 59 49 169 104 43 941 1,264 1,740 2,219 3,730 3,482 2,921
1,290 1,438 1,791 2,166 2,437 2,934 3,385 3,982 4,617 5,004 6,398 7,217
Total Assets 2,089 2,328 2,666 2,978 3,137 4,417 5,337 6,664 8,815 10,706 12,459 12,853

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 Mar 2020 Mar 2021 Mar 2022
336 608 628 642 858 1,170 844 1,395 1,644 2,400 1,652
-97 -224 180 -103 -40 -961 -452 -749 -643 -1,657 -971
-253 -396 -769 -497 -817 -33 -408 -594 -890 -509 -1,046
Net Cash Flow -14 -13 40 42 2 176 -16 52 110 234 -364

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
Debtor Days 79 70 69 80 73 66 70 71 78 61 66
Inventory Days
Days Payable
Cash Conversion Cycle 79 70 69 80 73 66 70 71 78 61 66
Working Capital Days 60 50 42 72 52 43 60 53 47 38 51
ROCE % 52% 75% 48% 47% 46% 42% 47% 37% 37% 36%

Shareholding Pattern

Numbers in percentages

8 recently
Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022
74.53 74.51 74.36 74.31 74.27 74.25 74.09 74.07 74.05 74.03 74.00 68.69
9.46 9.76 11.21 13.29 13.55 13.07 13.25 12.53 10.08 8.42 8.13 9.21
7.19 7.27 6.41 4.59 4.29 4.77 4.72 5.41 7.47 8.10 8.05 10.43
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.04 0.07 0.04
8.81 8.46 8.02 7.81 7.89 7.91 7.94 7.99 8.40 9.41 9.74 11.61
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.01

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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