L&T Technology Services Ltd

About [ edit ]

L&T Technology Services is a leading global pure-play Engineering Research and Development (ER&D) services company. ER&D services are a set of services provided to manufacturing, technology and process engineering companies, to help them develop and build products, processes and infrastructure required to deliver products and services to their end customers.

  • Market Cap 28,250 Cr.
  • Current Price 2,689
  • High / Low 3,062 / 1,066
  • Stock P/E 42.0
  • Book Value 282
  • Dividend Yield 0.78 %
  • ROCE 42.6 %
  • ROE 31.3 %
  • Face Value 2.00

Pros

  • Company has delivered good profit growth of 20.23% CAGR over last 5 years
  • Company has a good return on equity (ROE) track record: 3 Years ROE 30.59%
  • Company has been maintaining a healthy dividend payout of 30.83%

Cons

  • Stock is trading at 9.54 times its book value
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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020
980 1,074 1,184 1,214 1,239 1,246 1,293 1,318 1,324 1,186 1,208 1,268
828 886 964 985 1,012 988 1,026 1,051 1,086 993 991 1,008
Operating Profit 152 188 220 229 228 258 268 267 238 192 217 260
OPM % 15% 17% 19% 19% 18% 21% 21% 20% 18% 16% 18% 20%
Other Income 72 24 55 37 35 55 50 45 63 14 76 48
Interest 0 0 0 0 0 9 9 8 9 11 11 10
Depreciation 18 19 20 19 16 36 37 40 41 42 45 44
Profit before tax 205 193 255 247 246 269 272 264 251 153 237 254
Tax % 28% 25% 26% 27% 25% 26% 25% 25% 24% 26% 24% 25%
Net Profit 148 144 190 181 185 198 203 198 191 114 179 190
EPS in Rs 14.48 14.08 18.33 17.38 17.80 19.03 19.52 19.00 18.25 10.89 17.06 18.08

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 TTM
0 126 2,561 2,894 3,112 3,507 4,712 5,181 4,985
0 107 2,156 2,360 2,508 2,956 3,848 4,148 4,079
Operating Profit 0 20 404 533 604 551 864 1,033 906
OPM % 16% 16% 18% 19% 16% 18% 20% 18%
Other Income 0 -4 25 82 54 188 151 210 201
Interest 0 3 3 2 1 0 1 35 41
Depreciation 0 1 47 54 58 58 73 153 171
Profit before tax 0 12 379 559 600 681 941 1,055 895
Tax % 46% 17% 22% 25% 28% 26% 25%
Net Profit 0 6 315 436 449 489 700 790 673
EPS in Rs 0.00 0.61 10.51 58.17 44.15 47.77 67.31 75.59 64.28
Dividend Payout % 0% 50% 25% 27% 34% 31% 28%
Compounded Sales Growth
10 Years:%
5 Years:15%
3 Years:19%
TTM:-2%
Compounded Profit Growth
10 Years:%
5 Years:20%
3 Years:21%
TTM:-14%
Stock Price CAGR
10 Years:%
5 Years:%
3 Years:31%
1 Year:133%
Return on Equity
10 Years:%
5 Years:32%
3 Years:31%
Last Year:31%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Sep 2020
0 502 1,050 300 20 20 21 21 21
Reserves 0 -18 7 789 1,511 1,945 2,415 2,599 2,941
Borrowings 0 49 155 113 0 0 43 24 489
0 504 1,252 648 619 628 747 1,438 817
Total Liabilities 0 637 1,714 1,850 2,150 2,593 3,226 4,082 4,267
0 405 524 560 559 553 565 960 1,052
CWIP 0 0 0 14 2 0 0 9 12
Investments 0 0 6 62 199 322 752 765 1,255
0 232 1,184 1,214 1,390 1,717 1,908 2,348 1,948
Total Assets 0 637 1,714 1,850 2,150 2,593 3,226 4,082 4,267

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020
0 -14 289 525 402 340 740 664
0 -505 -607 -154 -177 -166 -489 -280
0 548 401 -402 -240 -98 -202 -377
Net Cash Flow 0 29 83 -31 -15 76 48 7

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020
ROCE % 5% 44% 46% 44% 39% 42% 43%
Debtor Days 434 95 90 83 99 79 93
Inventory Turnover

Shareholding Pattern

Numbers in percentages

Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020
88.81 87.10 80.66 80.41 78.88 74.97 74.97 74.74 74.62 74.60 74.36 74.27
2.95 3.14 3.87 4.22 5.09 8.50 8.93 8.26 8.37 8.95 7.97 8.87
0.78 0.94 4.32 4.25 4.43 4.75 4.76 4.52 4.88 4.45 5.83 6.40
7.47 8.82 11.15 11.12 11.60 11.78 11.34 12.48 12.13 12.00 11.83 10.46

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