L&T Technology Services Limited LTTS NIFTY_MIDNSEAITECH

Technology · Information Technology Services · India

https://www.ltts.com

L&T Technology Services Limited operates as an engineering research and development services company in India, North America, Europe, and other international markets. The company operates through three segments: Mobility, Sustainability, and Tech. It provides digital engineering and consulting services such as artificial intelligence, cybersecurity, industry 4.0 consulting, product consulting, sustainability engineering, 5G, and smart solutions. It provides engineering services which include computer-aided engineering, computational fluid dynamics, CAx automation, DevOps, engineering and manufacturing analytics, lab services, product testing and validation, VLSI design, voice solutions, user experience, sustenance and maintenance, embedded systems, and cloud and software engineering. In addition, the company offers manufacturing engineering services, including operations support, supply chain solutions, digital factory and simulation, manufacturing automation, new product development, PLM on cloud, plant design, materials management, and sourcing and procurement services. Further, it delivers plant engineering services such as CAPEX project services, plant management, operational support, regulatory compliance, and procurement solutions. L&T Technology Services Limited serves industries including automotive, aerospace, rail transportation, commercial, recreational and off-highway vehicles, industrial products, process manufacturing, hi-tech, medical technology, public infrastructure, smart cities, and software platforms. Additionally, the company has strategic collaboration with Thyssenkrupp Steering and ASSAI Software Services. The company was formerly known as L&T Integrated Engineering Services Limited and changed its name to L&T Technology Services Limited in September 2012. The company was incorporated in 2012 and is headquartered in Vadodara, India. L&T Technology Services Limited operates as a subsidiary of Larsen & Toubro Limited.

Market & Price

Market Cap

₹36,406.98 Cr

Current Price

₹3,432.40

High / Low (52W)

₹4,643.84 / ₹3,041.31

Beta

0.09

Valuation

Stock P/E

29.67

Industry PE

25.13

Forward P/E

20.97

PEG Ratio

Book Value

₹610.64

Price to Book

5.62

P/S

3.31

EV/EBITDA

19.27

Dividend Yield

1.69%

Profitability & Returns

ROCE

23.97%

ROE

19.54%

ROA

9.85%

Profit Margin

11.63%

Op Margin

15.22%

EPS (Latest Qtr)

₹31.29

EPS (TTM)

₹115.67

Balance Sheet & Liquidity

Debt/Equity

0.09

Quick Ratio

1.91

Current Ratio

2.28

Debt

₹578.50 Cr

Total Assets

₹10,488.90 Cr

Current Assets

₹7,366.40 Cr

Working Capital

₹4,130.80 Cr

Ownership

Promoter Holding

73.86%

Chg in Prom Hold

FII / Inst Holding

13.96%

Chg in FII Hold

Financial Snapshot

Enterprise Value

₹33,902.40 Cr

Total Revenue (TTM)

₹10,995.90 Cr

EBITDA

₹1,759.69 Cr

Free Cash Flow

₹993.11 Cr

Operating Cash Flow

₹1,455.10 Cr

Shares Outstanding

₹10.61 Cr

Gross Margin

40.46%

Payout Ratio

48.39%

Growth (CAGR)

Revenue 5Y

7.65%

Profit 5Y

1.81%

Revenue (YoY)

-4.20%

Earnings (YoY)

6.70%

PROS

Healthy ROCE of 24.0%.
Generates positive free cash flow.

CONS

Trading 26.1% below its 52-week high.
In a downtrend (50-DMA below 200-DMA).

* The pros and cons are auto-generated from financial metrics.

Price Chart

NSE TradingView Screener.in

Fundamental Growth

Period: Metric:

Figures from the latest reported periods. CAGR is computed across the displayed window (quarterly CAGR is annualised assuming 4 quarters per year).

Peer comparison

Peer companies in the same sector (Technology).

#	Name	CMP ₹	P/E	Mkt Cap	Div Yld %	ROCE %	ROE %	Rev CAGR 5Y %	Profit CAGR 5Y %
1	LTTS L&T Technology Services Limited NIFTY_MIDNSEAITECH	3,432.40	29.67	₹36,406.98 Cr	1.69%	23.97%	19.54%	7.65%	1.81%
2	TCS Tata Consultancy Services Limited NIFTY50NSEAITECH	2,258.90	16.61	₹8.17 L Cr	5.49%	54.93%	48.40%	5.80%	5.30%
3	INFY Infosys Limited NIFTY50NSEAITECH	1,160.90	15.01	₹4.70 L Cr	4.31%	41.66%	31.44%	3.44%	3.58%
4	HCLTECH HCL Technologies Limited NIFTY50NSEAITECH	1,183.80	19.31	₹3.20 L Cr	8.11%	27.21%	23.36%	8.65%	3.87%
5	WIPRO Wipro Limited NIFTY50NSEAITECH	204.25	16.26	₹2.14 L Cr	8.32%	18.42%	15.49%	4.05%	2.44%
6	TECHM Tech Mahindra Limited NIFTY50NSEAITECH	1,483.90	27.40	₹1.31 L Cr	3.44%	20.60%	16.61%	2.16%	-0.14%
7	LTM LTM Limited NSETECH	4,061.60	24.04	₹1.20 L Cr	1.85%	25.39%	21.29%	8.43%	4.41%
8	LGEINDIA LG ELECTRONICS INDIA LTD NIFTY_MIDNSETECH	1,523.90	61.35	₹1.03 L Cr	-	27.64%	24.72%	0.98%	-
9	WAAREEENER WAAREE ENERGIES LIMITED NIFTY_MIDNSETECH	3,140.80	27.70	₹90,345.53 Cr	0.13%	24.21%	31.57%	71.63%	191.18%

Quarterly Results

Figures in INR.

Metric	Dec 2024	Mar 2025	Jun 2025	Dec 2025	Mar 2026
Revenue	2,653.00 Cr	2,637.80 Cr	2,866.00 Cr	2,923.50 Cr	2,857.90 Cr
Cost of Revenue	1,395.10 Cr	1,548.50 Cr	1,591.20 Cr	1,642.50 Cr	1,681.70 Cr
Gross Profit	1,257.90 Cr	1,089.30 Cr	1,274.80 Cr	1,281.00 Cr	1,176.20 Cr
Operating Expenses	836.00 Cr	737.50 Cr	893.50 Cr	853.90 Cr	741.30 Cr
Operating Income	421.90 Cr	351.80 Cr	381.30 Cr	427.10 Cr	434.90 Cr
EBITDA	528.20 Cr	481.80 Cr	530.10 Cr	511.70 Cr	539.70 Cr
Interest Expense	15.50 Cr	15.90 Cr	16.50 Cr	14.90 Cr	17.00 Cr
Pretax Income	439.90 Cr	385.00 Cr	432.50 Cr	410.10 Cr	436.20 Cr
Tax Provision	120.40 Cr	105.50 Cr	116.40 Cr	107.00 Cr	116.20 Cr
Net Income	322.40 Cr	311.10 Cr	315.70 Cr	302.60 Cr	332.10 Cr
Diluted EPS	30.40	29.32	29.77	28.52	31.29

Profit & Loss (Annual)

Figures in INR.

Metric	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Revenue	8,815.50 Cr	9,647.30 Cr	9,642.20 Cr	10,995.90 Cr
Cost of Revenue	5,847.30 Cr	6,647.10 Cr	6,914.90 Cr	7,999.30 Cr
Gross Profit	2,968.20 Cr	3,000.20 Cr	2,727.30 Cr	2,996.60 Cr
Operating Expenses	1,421.90 Cr	1,303.10 Cr	1,219.60 Cr	1,406.10 Cr
Operating Income	1,546.30 Cr	1,697.10 Cr	1,507.70 Cr	1,590.50 Cr
EBITDA	1,964.20 Cr	2,126.30 Cr	2,001.20 Cr	2,086.10 Cr
Interest Expense	44.40 Cr	50.90 Cr	56.50 Cr	64.10 Cr
Pretax Income	1,686.00 Cr	1,803.80 Cr	1,639.40 Cr	1,674.50 Cr
Tax Provision	469.60 Cr	497.50 Cr	449.50 Cr	444.50 Cr
Net Income	1,212.10 Cr	1,303.70 Cr	1,266.70 Cr	1,279.20 Cr
Diluted EPS	114.48	123.00	119.44	120.53

Compounded Sales Growth

5 Years:	7.65%
1 Year:	-4.20%

Compounded Profit Growth

5 Years:	1.81%
1 Year:	6.70%

Stock Price Performance

1 Year:	-20.43%
6 Months:	-18.57%
3 Months:	+10.24%
1 Month:	-4.28%

Balance Sheet (Annual)

Figures in INR.

Metric	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Total Assets	-	8,197.60 Cr	8,488.50 Cr	9,643.50 Cr	10,488.90 Cr
Current Assets	-	6,376.90 Cr	6,230.30 Cr	6,464.10 Cr	7,366.40 Cr
Cash & Equivalents	-	534.60 Cr	1,122.10 Cr	1,383.10 Cr	1,649.70 Cr
Inventory	-	1.60 Cr	3.30 Cr	3.90 Cr	5.80 Cr
Receivables	-	2,154.30 Cr	2,186.60 Cr	2,522.90 Cr	2,031.20 Cr
Total Liabilities	-	3,744.70 Cr	3,140.70 Cr	3,546.00 Cr	3,996.70 Cr
Current Liabilities	-	3,310.10 Cr	2,537.10 Cr	2,990.00 Cr	3,235.60 Cr
Long Term Debt	-	-	-	-	-
Total Debt	-	454.20 Cr	658.80 Cr	577.60 Cr	578.50 Cr
Total Equity	-	4,434.90 Cr	5,327.10 Cr	6,080.00 Cr	6,472.70 Cr
Shares Outstanding	-	10.56 Cr	10.58 Cr	10.59 Cr	10.60 Cr

Cash Flows (Annual)

Figures in INR.

Metric	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Operating Cash Flow	-	1,313.00 Cr	1,492.80 Cr	1,481.10 Cr	1,455.10 Cr
Investing Cash Flow	-	-577.90 Cr	-233.30 Cr	-509.40 Cr	-442.80 Cr
Financing Cash Flow	-	-445.30 Cr	-657.90 Cr	-718.20 Cr	-799.50 Cr
Capital Expenditure	-	-181.50 Cr	-252.80 Cr	-111.60 Cr	-185.10 Cr
Free Cash Flow	-	1,131.50 Cr	1,240.00 Cr	1,369.50 Cr	1,270.00 Cr
Net Change in Cash	-	289.80 Cr	601.60 Cr	253.50 Cr	212.80 Cr

Ratios (Annual)

Figures in %.

Metric	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Gross Margin %	33.7%	31.1%	28.3%	27.3%
Operating Margin %	17.5%	17.6%	15.6%	14.5%
Net Margin %	13.7%	13.5%	13.1%	11.6%
ROE %	27.3%	24.5%	20.8%	19.8%
ROCE %	31.6%	28.5%	22.7%	21.9%

Shareholding Pattern

Insiders

73.86%

Institutions

13.96%

Public Float

53.40%

Analyst View

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LTTS · Technology