L&T Technology Services Ltd

About [ edit ]

LTTS is an engineering services provider incorporated in 2012, offers engineering,, research and development (ER&D) and digitalization solutions to companies in the areas such as Transportation, Industrial Products, Telecom and Hi-Tech, Medical Devices and Plant
Engineering. LTTS’ customer base includes 69 Fortune 500 companies and 53 of the world’s top ER&D companies.The business also provides digital engineering advisory services.The company went public on September 23, 2016. LTTS has 296 global clients in 25+ countries.#####

Key Points [ edit ]
  • Market Cap 27,748 Cr.
  • Current Price 2,640
  • High / Low 3,062 / 1,088
  • Stock P/E 41.8
  • Book Value 331
  • Dividend Yield 0.80 %
  • ROCE 27.9 %
  • ROE 21.2 %
  • Face Value 2.00

Pros

  • Company is almost debt free.
  • Company has a good return on equity (ROE) track record: 3 Years ROE 28.28%
  • Company has been maintaining a healthy dividend payout of 30.05%

Cons

  • Stock is trading at 7.99 times its book value
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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021
1,152 1,266 1,317 1,343 1,348 1,402 1,423 1,447 1,295 1,314 1,401 1,440
956 1,037 1,075 1,095 1,075 1,119 1,137 1,178 1,089 1,081 1,125 1,147
Operating Profit 196 229 242 248 273 283 286 268 206 233 276 293
OPM % 17% 18% 18% 18% 20% 20% 20% 19% 16% 18% 20% 20%
Other Income 98 55 36 34 56 47 44 61 14 57 49 35
Interest 0 0 1 0 9 9 9 9 11 11 11 12
Depreciation 26 27 24 27 43 44 47 48 49 53 62 54
Profit before tax 268 256 253 254 277 277 274 272 160 226 251 261
Tax % 26% 25% 26% 24% 26% 25% 25% 24% 26% 26% 25% 25%
Net Profit 198 191 186 192 204 206 204 205 117 166 186 194
EPS in Rs 19.28 18.43 17.85 18.41 19.60 19.78 19.56 19.60 11.21 15.78 17.72 18.52

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
2,619 3,066 3,248 3,747 5,078 5,619 5,450
2,220 2,547 2,662 3,171 4,164 4,506 4,442
Operating Profit 399 519 586 576 915 1,113 1,007
OPM % 15% 17% 18% 15% 18% 20% 18%
Other Income 25 84 57 193 223 207 154
Interest 3 2 2 2 2 36 46
Depreciation 48 59 62 89 104 183 218
Profit before tax 372 542 579 678 1,031 1,100 897
Tax % 16% 23% 27% 25% 26% 25% 26%
Net Profit 311 419 425 506 766 819 663
EPS in Rs 10.36 55.88 41.78 49.39 73.61 78.33 63.14
Dividend Payout % 50% 26% 29% 32% 29% 27% 35%
Compounded Sales Growth
10 Years:%
5 Years:12%
3 Years:13%
TTM:-3%
Compounded Profit Growth
10 Years:%
5 Years:10%
3 Years:9%
TTM:-19%
Stock Price CAGR
10 Years:%
5 Years:%
3 Years:28%
1 Year:135%
Return on Equity
10 Years:%
5 Years:29%
3 Years:28%
Last Year:21%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
1,050 300 20 20 21 21 21
Reserves 2 766 1,465 1,916 2,458 2,748 3,452
Borrowings 219 196 102 70 70 30 480
1,257 681 644 696 802 1,504 1,119
Total Liabilities 1,778 1,942 2,232 2,702 3,352 4,303 5,073
569 621 614 709 780 1,174 1,282
CWIP 0 14 2 0 0 9 12
Investments 0 56 195 221 575 642 1,515
1,208 1,252 1,421 1,772 1,997 2,479 2,264
Total Assets 1,778 1,942 2,232 2,702 3,352 4,303 5,073

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
289 544 388 409 806 638 1,327
-667 -176 -178 -196 -509 -222 -1,005
464 -383 -222 -132 -245 -406 -363
Net Cash Flow 86 -15 -12 81 52 10 -41

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
ROCE % 43% 41% 38% 45% 43% 28%
Debtor Days 96 86 80 94 76 90 83
Inventory Turnover

Shareholding Pattern

Numbers in percentages

Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021
87.10 80.66 80.41 78.88 74.97 74.97 74.74 74.62 74.60 74.36 74.27 74.24
3.14 3.87 4.22 5.09 8.50 8.93 8.26 8.37 8.95 7.97 8.87 9.06
0.94 4.32 4.25 4.43 4.75 4.76 4.52 4.88 4.45 5.83 6.40 6.36
8.82 11.15 11.12 11.60 11.78 11.34 12.48 12.13 12.00 11.83 10.46 10.34

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