IT - Services
Valuation | |
|---|---|
| Market Cap | 36.49 kCr |
| Price/Earnings (Trailing) | 28.99 |
| Price/Sales (Trailing) | 3.05 |
| EV/EBITDA | 16.63 |
| Price/Free Cashflow | 32.5 |
| MarketCap/EBT | 21.24 |
| Enterprise Value | 35.29 kCr |
Fundamentals | |
|---|---|
| Revenue (TTM) | 11.97 kCr |
| Rev. Growth (Yr) | 10.1% |
| Earnings (TTM) | 1.26 kCr |
| Earnings Growth (Yr) | -5.1% |
Profitability | |
|---|---|
| Operating Margin | 15% |
| EBT Margin | 14% |
| Return on Equity | 20.27% |
| Return on Assets | 12.93% |
| Free Cashflow Yield | 3.08% |
Growth & Returns | |
|---|---|
| Price Change 1W | 0.10% |
| Price Change 1M | -7.5% |
| Price Change 6M | -17.9% |
| Price Change 1Y | -24% |
| 3Y Cumulative Return | -2.8% |
| 5Y Cumulative Return | 4.9% |
| 7Y Cumulative Return | 12.1% |
Cash Flow & Liquidity | |
|---|---|
| Cash Flow from Investing (TTM) | -509.4 Cr |
| Cash Flow from Operations (TTM) | 1.48 kCr |
| Cash Flow from Financing (TTM) | -718.2 Cr |
| Cash & Equivalents | 1.2 kCr |
| Free Cash Flow (TTM) | 1.37 kCr |
| Free Cash Flow/Share (TTM) | 129.23 |
Balance Sheet | |
|---|---|
| Total Assets | 9.73 kCr |
| Total Liabilities | 3.52 kCr |
| Shareholder Equity | 6.21 kCr |
| Current Assets | 6.6 kCr |
| Current Liabilities | 2.87 kCr |
| Net PPE | 928.1 Cr |
| Inventory | 9.4 Cr |
| Goodwill | 1.16 kCr |
Capital Structure & Leverage | |
|---|---|
| Debt Ratio | 0.00 |
| Debt/Equity | 0.00 |
| Interest Coverage | 26.23 |
| Interest/Cashflow Ops | 25.77 |
Dividend & Shareholder Returns | |
|---|---|
| Dividend/Share (TTM) | 56 |
| Dividend Yield | 1.63% |
| Shares Dilution (1Y) | 0.10% |
| Shares Dilution (3Y) | 0.40% |
Balance Sheet: Strong Balance Sheet.
Technicals: Bullish SharesGuru indicator.
Profitability: Recent profitability of 11% is a good sign.
Size: Market Cap wise it is among the top 20% companies of india.
Smart Money: Smart money has been increasing their position in the stock.
Buy Backs: Company has bought back it's stock in the past which is a good thing.
Growth: Good revenue growth. With 52% growth over past three years, the company is going strong.
Momentum: Stock has a weak negative price momentum.
Past Returns: Underperforming stock! In past three years, the stock has provided -2.8% return compared to 12.2% by NIFTY 50.
Balance Sheet: Strong Balance Sheet.
Technicals: Bullish SharesGuru indicator.
Profitability: Recent profitability of 11% is a good sign.
Size: Market Cap wise it is among the top 20% companies of india.
Smart Money: Smart money has been increasing their position in the stock.
Buy Backs: Company has bought back it's stock in the past which is a good thing.
Growth: Good revenue growth. With 52% growth over past three years, the company is going strong.
Momentum: Stock has a weak negative price momentum.
Past Returns: Underperforming stock! In past three years, the stock has provided -2.8% return compared to 12.2% by NIFTY 50.
Investor Care | |
|---|---|
| Dividend Yield | 1.63% |
| Dividend/Share (TTM) | 56 |
| Shares Dilution (1Y) | 0.10% |
| Earnings/Share (TTM) | 118.77 |
Financial Health | |
|---|---|
| Current Ratio | 2.3 |
| Debt/Equity | 0.00 |
Technical Indicators | |
|---|---|
| RSI (14d) | 32.19 |
| RSI (5d) | 50.26 |
| RSI (21d) | 40.91 |
| MACD Signal | Buy |
| Stochastic Oscillator Signal | Hold |
| SharesGuru Signal | Buy |
| RSI Signal | Hold |
| RSI5 Signal | Hold |
| RSI21 Signal | Hold |
| SMA 5 Signal | Buy |
| SMA 10 Signal |
Updated May 5, 2025
Net profit declined by 3.5% to ₹311.1 crore, reflecting challenges amid the Intelliswift acquisition.
The operating margin dropped to 13.2%, lower than both the previous quarter and the forecast.
Despite a 12.4% sequential revenue increase, earnings fell short of expectations and impacted investor sentiment.
Summary of L&T Technology Services's latest earnings call, featuring management's outlook on business performance, financial results, and analyst Q&A sessions that highlight key strategic initiatives and market challenges.
In the Q3 FY26 earnings conference call, L&T Technology Services (LTTS) management provided an optimistic outlook, emphasizing a positive macroeconomic environment and strong client demand in new-age technology solutions. The CEO, Amit Chadha, highlighted that the company anticipates mid-single-digit overall revenue growth for FY26, with certain business areas expected to achieve double-digit growth.
Key forward-looking points from management include:
Revenue Performance: Q3 recorded a revenue of $326 million, reflecting a 4.6% annual growth but a sequential decline of 3.2% due to strategic portfolio rebalancing towards advanced technologies.
Large Deal Wins: Management reported a total contract value (TCV) of large deal wins at $180 million for the quarter, marking the fifth consecutive quarter with similar achievement.
Segment Guidance:
Margin Improvement: With Q3 EBIT margins at 14.6%, an improvement of 120 basis points, management aims for improved margins throughout FY26, with aspirations to reach mid-16% EBIT margins between Q4 FY27 and Q1 FY28.
Restructuring Strategy: The management has undertaken a deliberate restructuring to exit certain lower-margin projects and focus on profitable sectors, which they believe will lead to enhanced shareholder value creation.
Overall, LTTS management expressed confidence in both their strategic direction and underlying market demand, setting a positive tone for the upcoming quarters.
Understand L&T Technology Services ownership landscape with insights into key distribution patterns, offering investors a clear view of stakeholder dynamics.
| Shareholder Name | Holding % |
|---|---|
| LARSEN AND TOUBRO LIMITED | 73.58% |
| LICI ULIP-SECURED FUND | 6.92% |
| SEAFARER OVERSEAS GROWTH & INCOME FUND | 1.42% |
| Intelliswift Software (Canada) Inc | 0% |
| Global Infotech Corporation | 0% |
| P. Murphy & Associates Inc | 0% |
| PANIPAT GREEN HYDROGEN PRIVATE LIMITED |
Detailed comparison of L&T Technology Services against industry peers, highlighting key financial metrics, valuation ratios, and performance indicators to provide competitive context within the sector.
Ticker | Name | Mkt Cap | Revenue | Price %, 1M | Returns, 1Y | P/E | P/S | Rev 1-Yr | Inc 1-Yr |
|---|---|---|---|---|---|---|---|---|---|
| LTIM | LTIMindtree | 1.31 LCr | 41.96 kCr | -26.30% | -5.60% | 27.45 | 3.11 | - | - |
| PERSISTENT | Persistent Systems | 73.72 kCr | 14.1 kCr |
Comprehensive comparison against sector averages
LTTS metrics compared to IT
| Category | LTTS | IT |
|---|---|---|
| PE | 28.99 | 29.92 |
| PS | 3.05 | 2.52 |
| Growth | 14.6 % | 12.6 % |
L&T Technology Services is an IT Enabled Services company, with the stock ticker LTTS. It boasts a market capitalization of Rs. 44,314.2 Crores.
The company operates globally, providing engineering research and development services across various sectors, including:
Transportation: Collaborating with OEMs and tier 1 suppliers, L&T Technology Services offers solutions for aerospace, automotive, rail, commercial vehicles, off-highway, and polymer industries. This includes support for concept, design, manufacture, and sourcing.
Industrial Products: The company provides extensive product development advice, focusing on software, electronics, mechanical engineering, and industrial networking protocols, catering to building automation and machinery applications.
Hi-Tech Communication and Media: This segment specializes in embedded software and hardware design, product maintenance, and testing services aimed at telecommunications, consumer electronics, semiconductors, and media sectors.
Plant Engineering: L&T Technology Services delivers engineering, project management, and maintenance solutions primarily for clients in the chemical and energy sectors.
Medical Devices: The company offers a range of services including concept design, mechanical engineering, and regulatory compliance solutions for medical device OEMs in various medical fields.
Incorporated in 2012 and headquartered in Vadodara, India, L&T Technology Services is a subsidiary of Larsen & Toubro Limited. Over the last twelve months, the company reported revenues of Rs. 10,442 Crores and generated a profit of Rs. 1,294.8 Crores.
L&T Technology Services actively distributes dividends to its investors, maintaining a dividend yield of 1.6% per year, with a dividend of Rs. 67 per share over the past year. Despite some dilution of shareholdings by 0.4% in the last three years, the company has achieved impressive revenue growth of 63.2% during this period.
This is an informational page just to provide a quick 'first look' at the stock. You must do your own deeper research. Know your risk appetite. Consult a SEBI-registered financial advisor before making any investment decisions.
| Buy |
| SMA 20 Signal | Sell |
| SMA 50 Signal | Sell |
| SMA 100 Signal | Sell |
LTTS vs IT (2021 - 2026)
High Scoring Large Cap stocks have outperformed low scoring stocks by 90% over last 4 years
LTTS achieved record total contract value bookings in Q4 FY25, driven by large deals in technology and sustainability.
This information is AI-generated and may contain inaccuracies. Please verify from multiple sources.
1. Vibhor Singhal: "Can you elaborate on the restructuring exercise? Does it involve stopping projects for some clients or shutting down divisions?"
Amit Chadha: "Yes, we've evaluated our portfolio and identified low-margin segments and outdated technologies. We have discontinued certain projects in Tech, especially those declining or becoming commoditized. For instance, we closed some operations in Israel and certain European Mobility projects. Our goal is to focus on high-growth areas while ensuring quality and profitability."
2. Vibhor Singhal: "Given the decline in India business and Tech vertical, is it accurate to say that most restructuring involves SWC?"
Amit Chadha: "Not solely; while SWC contributes to restructuring, the cuts also involve legacy projects across various segments. We've rationalized older technologies that could lead to lower margins. It's a mixed portfolio approach, ensuring we prioritize value-added offerings."
3. Sandeep Shah: "What prompted this restructuring after multiple strategy changes in recent years? How will this change organic growth?"
Amit Chadha: "Lakshya, our five-year plan, is cyclical. This restructuring aligns with shifting market demands, especially towards AI and Engineering Intelligence. We're proactively focusing on profitable segments to avoid stagnation, which should boost organic growth moving forward."
4. Nitin Padmanabhan: "Regarding margins, how can we understand the benefits from discontinued businesses? Will this act as a cushion for margins when facing salary increases?"
Rajeev Gupta: "The margins saw improvement from better-quality revenue and operational efficiencies. We expect wage increases to impact margins but believe our ongoing restructuring will enhance overall profitability despite these pressures. We'll aim for sustained margin growth in the upcoming quarters."
5. Ravi Menon: "What sustainable EBITDA can we expect from the Tech vertical after restructuring?"
Rajeev Gupta: "We aspire for a sustainable EBITDA range of 12% to 13% within the Tech sector, driven by our restructuring and focus on profitable segments. It will take time, but we anticipate gradual improvements as we refine our offerings."
| 0% |
| RAYKAL ALUMINIUM COMPANY PRIVATE LIMITED | 0% |
| L&T MBDA MISSILE SYSTEMS LIMITED | 0% |
| LTH MILCOM PRIVATE LIMITED | 0% |
| GH4 INDIA PRIVATE LIMITED | 0% |
| L&T SAPURA SHIPPING PRIVATE LIMITED | 0% |
| HYDROCARBON ARABIA LIMITED COMPANY | 0% |
| INDIRAN ENGINEERING PROJECTS AND SYSTEMS KISH (LLC) | 0% |
| L&T HOWDEN PRIVATE LIMITED | 0% |
| L&T-MHI POWER BOILERS PRIVATE LIMITED | 0% |
| L&T-MHI POWER TURBINE GENERATORS PRIVATE LIMITED | 0% |
| L&T-SARGENT & LUNDY LIMITED | 0% |
| GUJARAT LEATHER INDUSTRIES LIMITED | 0% |
| MAGTORQ PRIVATE LIMITED | 0% |
Distribution across major stakeholders
Distribution across major institutional holders
| -22.60% |
| -11.90% |
| 41.9 |
| 5.23 |
| - |
| - |
| TATAELXSI | Tata Elxsi | 27.72 kCr | 3.85 kCr | -16.40% | -17.80% | 47.74 | 7.2 | - | - |
| TATATECH | Tata Tech | 23.54 kCr | 5.42 kCr | -10.20% | -13.60% | 44.32 | 4.34 | - | - |
| KPITTECH | KPIT Tech | 20.69 kCr | 6.39 kCr | -27.60% | -37.00% | 28.53 | 3.24 | - | - |
| CYIENT | Cyient | 9.99 kCr | 7.44 kCr | -21.00% | -29.00% | 18.24 | 1.34 | - | - |
High Scoring Large Cap stocks have outperformed low scoring stocks by 90% over last 4 years
| Exceptional items before tax |
| - |
| -35.4 |
| 0 |
| 0 |
| 0 |
| 0 |
| 0 |
| Total profit before tax | -8.5% | 410 | 448 | 432 | 440 | 441 | 433 |
| Current tax | 7.7% | 113 | 105 | 112 | 127 | 113 | 120 |
| Deferred tax | -150.8% | -5.6 | 14 | 4.3 | -6.2 | 7.5 | -1 |
| Total tax | -10.2% | 107 | 119 | 116 | 120 | 121 | 119 |
| Total profit (loss) for period | -7.9% | 303 | 329 | 316 | 320 | 320 | 314 |
| Other comp. income net of taxes | 93.6% | -5.6 | -102.4 | -38.7 | -45.6 | -28.7 | 20 |
| Total Comprehensive Income | 31.4% | 298 | 227 | 277 | 274 | 291 | 334 |
| Earnings Per Share, Basic | -8.2% | 28.56 | 31.02 | 29.81 | 30.47 | 30.2 | 29.65 |
| Earnings Per Share, Diluted | -8.2% | 28.52 | 30.97 | 29.77 | 30.4 | 30.12 | 29.57 |
| 8.2% |
| 266 |
| 246 |
| 202 |
| 183 |
| 174 |
| 153 |
| Other expenses | 14.5% | 2,861 | 2,499 | 1,563 | 1,362 | 1,025 | 1,184 |
| Total Expenses | 12.9% | 8,061 | 7,143 | 5,756 | 4,777 | 4,243 | 4,339 |
| Profit Before exceptional items and Tax | -3.2% | 1,683 | 1,739 | 1,558 | 1,251 | 895 | 1,055 |
| Total profit before tax | -3.2% | 1,683 | 1,739 | 1,558 | 1,251 | 895 | 1,055 |
| Current tax | -1.9% | 454 | 463 | 433 | 331 | 210 | 208 |
| Deferred tax | -53.1% | 8.5 | 17 | 14 | 1.2 | 12 | 57 |
| Total tax | -4% | 462 | 481 | 447 | 332 | 222 | 265 |
| Total profit (loss) for period | -2.9% | 1,221 | 1,258 | 1,110 | 918 | 673 | 790 |
| Other comp. income net of taxes | -180.7% | -32.1 | 42 | -168.8 | 81 | 254 | -260.3 |
| Total Comprehensive Income | -8.5% | 1,189 | 1,300 | 942 | 999 | 927 | 530 |
| Earnings Per Share, Basic | -3.1% | 115.37 | 119.06 | 105.18 | 87.26 | 64.25 | 75.82 |
| Earnings Per Share, Diluted | -3.1% | 115.11 | 118.74 | 104.87 | 87.08 | 63.83 | 74.99 |
| - |
| 0 |
| 0 |
| 560 |
| 567 |
| - |
| 350 |
| Goodwill | 0% | 428 | 428 | 428 | 428 | 389 | 389 |
| Non-current investments | 19.6% | 1,564 | 1,308 | 372 | 388 | 367 | 486 |
| Total non-current financial assets | 5.5% | 1,641 | 1,556 | 517 | 557 | 498 | 666 |
| Total non-current assets | 0.1% | 3,147 | 3,144 | 2,155 | 2,215 | 1,940 | 1,692 |
| Total assets | 2.1% | 9,044 | 8,862 | 8,164 | 8,005 | 7,243 | 6,459 |
| Borrowings, non-current | - | 0 | 0 | 484 | 495 | 0 | 344 |
| Total non-current financial liabilities | 32.3% | 566 | 428 | 495 | 497 | 423 | 361 |
| Provisions, non-current | -108.3% | 0 | 13 | 0 | 0 | 6.2 | 5.2 |
| Total non-current liabilities | 18% | 610 | 517 | 576 | 580 | 476 | 406 |
| Total current financial liabilities | 8.4% | 1,984 | 1,830 | 1,594 | 1,680 | 1,641 | 859 |
| Provisions, current | -3.1% | 188 | 194 | 164 | 153 | 150 | 127 |
| Current tax liabilities | -41% | 50 | 84 | 63 | 64 | 70 | 113 |
| Total current liabilities | 2.2% | 2,654 | 2,597 | 2,278 | 2,374 | 2,262 | 1,365 |
| Total liabilities | 4.8% | 3,263 | 3,114 | 2,854 | 2,954 | 2,739 | 1,771 |
| Equity share capital | 0% | 21 | 21 | 21 | 21 | 21 | 21 |
| Total equity | 0.6% | 5,781 | 5,748 | 5,311 | 5,051 | 4,505 | 4,688 |
| Total equity and liabilities | 2.1% | 9,044 | 8,862 | 8,164 | 8,005 | 7,243 | 6,459 |
| -68.3 |
| -130.9 |
| 33 |
| -49.2 |
| - |
| - |
| Income taxes paid (refund) | -6.3% | 479 | 511 | 438 | 329 | - | - |
| Other inflows (outflows) of cash | - | 0 | 0 | 0 | 7.4 | - | - |
| Net Cashflows From Operating Activities | 6.5% | 1,428 | 1,341 | 1,259 | 899 | - | - |
| Cashflows used in obtaining control of subsidiaries | -3.6% | 769 | 798 | 0 | 0 | - | - |
| Proceeds from sales of PPE | -110% | 0 | 11 | 0 | 6.8 | - | - |
| Purchase of property, plant and equipment | -58.4% | 105 | 251 | 159 | 118 | - | - |
| Proceeds from sales of investment property | - | 6.2 | 0 | 0 | 0 | - | - |
| Purchase of investment property | - | 0 | 0 | 781 | 0 | - | - |
| Proceeds from sales of long-term assets | - | 263 | 0 | 286 | 0 | - | - |
| Purchase of other long-term assets | 36.7% | 150 | 110 | 0 | 0 | - | - |
| Dividends received | - | 0 | 0 | 30 | 16 | - | - |
| Interest received | -101.4% | 0 | 70 | 71 | 33 | - | - |
| Other inflows (outflows) of cash | - | 0 | 0 | 0 | -327 | - | - |
| Net Cashflows From Investing Activities | -138.9% | -554.3 | -231.4 | -553.8 | -388.6 | - | - |
| Proceeds from issuing shares | - | 0 | 0 | 0 | 0.1 | - | - |
| Payments of lease liabilities | 18.8% | 121 | 102 | 317 | 73 | - | - |
| Dividends paid | 6.5% | 529 | 497 | 0 | 363 | - | - |
| Interest paid | 14.9% | 55 | 48 | 39 | 39 | - | - |
| Net Cashflows from Financing Activities | -9% | -704.7 | -646.6 | -432.4 | -476 | - | - |
| Net change in cash and cash eq. | -63.6% | 169 | 463 | 273 | 35 | - | - |
Earnings Call Transcript • 20 Jan 2026 Transcript of Q3 FY 26 Earnings Call held on January 15, 2026, is attached. |
Analysis of L&T Technology Services's financial performance, highlighting revenue trends, growth patterns, and key metrics through quarterly analysis.
Last Updated: Dec 31, 2025
| Description | Share | Value |
|---|---|---|
| Tech | 36.6% | 1.1 kCr |
| Sustainability | 33.3% | 973.1 Cr |
| Mobility | 30.1% | 879.7 Cr |
| Total |
| 2.9 kCr |