25-Apr-2025, 06:14
On consolidated basisQuarter ended March 2025 compared with Quarter ended December 2024.
Net sales (including other operating income) of L&T Technology Services has increased 12.42% to Rs 2982.4 crore.
Operating profit margin has declined from 18.65% to 15.94%, leading to 3.88% decline in operating profit to Rs 475.50 crore. Employee cost increased from 52.59% to 52.86%. Other expenses rose from 28.77% to 31.19%. Other income rose 47.16% to Rs 49.3 crore. PBIDT fell 0.64% to Rs 524.8 crore. Provision for interest rose 2.58% to Rs 15.9 crore. Loa00n funds remained nil. PBDT fell 0.74% to Rs 508.9 crore. Provision for depreciation rose 12.09% to Rs 81.6 crore. Profit before tax down 2.86% to Rs 427.30 crore. Share of profit/loss were nil in both the periods. Provision for tax was expense of Rs 117.1 crore, compared to Rs 120.4 crore. Effective tax rate was 27.40% compared to 27.37%. Minority interest increased 68.97% to Rs -0.90 crore. Net profit attributable to owners of the company decreased 3.50% to Rs 311.10 crore. Promoters' stake w0as 73.66% as of 31 March 2025 ,compared to 73.66% as of 31 December 2024 .
Quarter ended March 2025 compared with Quarter ended March 2024.
Net sales (including other operating income) of L&T Technology Services has increased 17.53% to Rs 2982.4 crore. Sales of Mobility segment has gone up 7.57% to Rs 872.70 crore (accounting for 29.26% of total sales). Sales of Sustainability segment has gone up 12.86% to Rs 858.30 crore (accounting for 28.78% of total sales). Sales of Hi-Tech segment has gone up 29.58% to Rs 1,251.40 crore (accounting for 41.96% of total sales).
Profit before interest, tax and other unallocable items (PBIT) has slumped 7.82% to Rs 490.20 crore. PBIT of Mobility segment rose 1.42% to Rs 164.50 crore (accounting for 33.56% of total PBIT). PBIT of Sustainability segment fell 9.10% to Rs 198.90 crore (accounting for 40.58% of total PBIT). PBIT of Hi-Tech segment fell 15.92% to Rs 126.80 crore (accounting for 25.87% of total PBIT). PBIT margin of Mobility segment fell from 19.99% to 18.85%. PBIT margin of Sustainability segment fell from 28.77% to 23.17%. PBIT margin of Hi-Tech segment fell from 15.62% to 10.13%. Overall PBIT margin fell from 20.96% to 16.44%. Operating profit margin has declined from 19.81% to 15.94%, leading to 5.43% decline in operating profit to Rs 475.50 crore. Employee cost increased from 48.04% to 52.86%. Other expenses fell from 32.14% to 31.19%. Other income fell 11.96% to Rs 49.3 crore. PBIDT fell 6.08% to Rs 524.8 crore. Provision for interest rose 20.45% to Rs 15.9 crore. Loan funds declined from Rs 658.80 crore as of 31 March 2024 to Rs 577.60 crore as of 31 March 2025. Inventories rose to Rs 3.90 crore as of 31 March 2025 from Rs 3.30 crore as of 31 March 2024. Sundry debtors were higher at Rs 2,512.60 crore as of 31 March 2025 compared to Rs 2,180.30 crore as of 31 March 2024. Cash and bank balance rose to Rs 1,565.80 crore as of 31 March 2025 from Rs 1,390.50 crore as of 31 March 2024. Investments declined from Rs 1,492.70 crore as of 31 March 2024 to Rs 1,309.60 crore as of 31 March 2025. PBDT fell 6.73% to Rs 508.9 crore. Provision for depreciation rose 9.38% to Rs 81.6 crore. Fixed assets increased to Rs 1,140.20 crore as of 31 March 2025 from Rs 1,022.20 crore as of 31 March 2024. Intangible assets increased from Rs 603.50 crore to Rs 1,132.70 crore. Profit before tax down 9.28% to Rs 427.30 crore. Share of profit/loss were nil in both the periods. Provision for tax was expense of Rs 117.1 crore, compared to Rs 129.6 crore. Effective tax rate was 27.40% compared to 27.52%. Net profit attributable to owners of the company decreased 8.74% to Rs 311.10 crore. Equity capital stood at Rs 21.20 crore as of 31 March 2025 to Rs 21.20 crore as of 31 March 2024. Per share face Value remained same at Rs 2.00. Promoters' stake was 73.66% as of 31 March 2025 ,compared to 73.74% as of 31 March 2024 .
Full year results analysis.
Net sales (including other operating income) of L&T Technology Services has increased 10.60% to Rs 10670.1 crore. Sales of Mobility segment has gone up 10.99% to Rs 3,508.70 crore (accounting for 32.88% of total sales). Sales of Sustainability segment has gone up 7.60% to Rs 3,216.70 crore (accounting for 30.15% of total sales). Sales of Hi-Tech segment has gone up 12.82% to Rs 3,944.70 crore (accounting for 36.97% of total sales).
Profit before interest, tax and other unallocable items (PBIT) has slumped 2.63% to Rs 1,952.40 crore. PBIT of Mobility segment rose 8.06% to Rs 670.20 crore (accounting for 34.33% of total PBIT). PBIT of Sustainability segment fell 4.55% to Rs 805.40 crore (accounting for 41.25% of total PBIT). PBIT of Hi-Tech segment fell 11.90% to Rs 476.80 crore (accounting for 24.42% of total PBIT). PBIT margin of Mobility segment fell from 19.62% to 19.10%. PBIT margin of Sustainability segment fell from 28.23% to 25.04%. PBIT margin of Hi-Tech segment fell from 15.48% to 12.09%. Overall PBIT margin fell from 20.79% to 18.30%. Operating profit margin has declined from 19.89% to 17.74%, leading to 1.38% decline in operating profit to Rs 1,892.50 crore. Employee cost increased from 51.10% to 53.31%. Other expenses fell from 29.01% to 28.95%. Other income rose 1.30% to Rs 210 crore. PBIDT fell 1.12% to Rs 2102.5 crore. Provision for interest rose 11% to Rs 56.5 crore. Loan funds declined from Rs 658.80 crore as of 31 March 2024 to Rs 577.60 crore as of 31 March 2025. Inventories rose to Rs 3.90 crore as of 31 March 2025 from Rs 3.30 crore as of 31 March 2024. Sundry debtors were higher at Rs 2,512.60 crore as of 31 March 2025 compared to Rs 2,180.30 crore as of 31 March 2024. Cash and bank balance rose to Rs 1,565.80 crore as of 31 March 2025 from Rs 1,390.50 crore as of 31 March 2024. Investments declined from Rs 1,492.70 crore as of 31 March 2024 to Rs 1,309.60 crore as of 31 March 2025. PBDT fell 1.42% to Rs 2046 crore. Provision for depreciation rose 12.41% to Rs 305.3 crore. Fixed assets increased to Rs 1,140.20 crore as of 31 March 2025 from Rs 1,022.20 crore as of 31 March 2024. Intangible assets increased from Rs 603.50 crore to Rs 1,132.70 crore. Profit before tax down 3.50% to Rs 1,740.70 crore. Share of profit/loss were nil in both the periods. Provision for tax was expense of Rs 477.2 crore, compared to Rs 497.5 crore. Effective tax rate was 27.41% compared to 27.58%. Net profit attributable to owners of the company decreased 2.84% to Rs 1,266.70 crore. Equity capital stood at Rs 21.20 crore as of 31 March 2025 to Rs 21.20 crore as of 31 March 2024. Per share face Value remained same at Rs 2.00. Promoters' stake was 73.66% as of 31 March 2025 ,compared to 73.74% as of 31 March 2024 . Cash flow from operating activities decreased to Rs 1,481.10 crore for year ended March 2025 from Rs 1,492.80 crore for year ended March 2024. Cash flow used in acquiring fixed assets during the year ended March 2025 stood at Rs 111.60 crore, compared to Rs 252.80 crore during the year ended March 2024.
Dividend: The board has recommended final dividend of Rs 38 per equity share.
Management Comment:
Commenting on the performance Amit Chadha, CEO & Managing Director, L&T Technology Services 'In Q4, we continued our large deal momentum recording the highest-ever TCV bookings. The large deal pipeline has been robust on the back of value enhancement across the clients' product lifecycle and digital transformation journey.
We delivered 8.9% revenue growth in constant currency in FY25. In Q4, we had a strong sequential growth of 10.7%, which was led by Tech and Sustainability segments in a quarter of tightening market conditions. During the quarter, we completed the acquisition of Intelliswift allowing us to address new markets inService-led sectors. We achieved three notable milestones, crossing INR 10,000 crore in annual revenue, surpassing 1,500 patent filings and being officially recognized as a Great Place to Work' in the U.S. for the second year in a row, and in Japan for the first time ever As we step into FY26, we see the technology landscape tilting sharply towards AI and Automation, providing us with new opportunities to develop AI led solutions. Based on the large deal bookings closed during the quarter, in our view, FY26 will be a better year than FY25. We also reaffirm our medium-term outlook of USD 2 billion revenue.'
| L&T Technology Services : Consolidated Results |
| | Quarter ended | Year ended |
|---|
| Particulars | 202503 | 202403 | Var.(%) | 202503 | 202403 | Var.(%) |
|---|
| Net Sales (including other operating income) | 2,982.40 | 2,537.50 | 17.53 | 10,670.10 | 9,647.30 | 10.60 | | OPM (%) | 15.94 | 19.81 | -387 bps | 17.74 | 19.89 | -216 bps | | OP | 475.50 | 502.80 | -5.43 | 1,892.50 | 1,919.00 | -1.38 | | Other Inc. | 49.30 | 56.00 | -11.96 | 210.00 | 207.30 | 1.30 | | PBIDT | 524.80 | 558.80 | -6.08 | 2,102.50 | 2,126.30 | -1.12 | | Interest | 15.90 | 13.20 | 20.45 | 56.50 | 50.90 | 11.00 | | PBDT | 508.90 | 545.60 | -6.73 | 2,046.00 | 2,075.40 | -1.42 | | Depreciation | 81.6 | 74.6 | 9.38 | 305.3 | 271.6 | 12.41 | | PBT | 427.30 | 471.00 | -9.28 | 1740.7 | 1803.8 | -3.50 | | Share of Profit/(Loss) from Associates | 0 | 0 | - | 0 | 0 | - | | PBT before EO | 427.3 | 471 | -9.28 | 1740.7 | 1803.8 | -3.50 | | EO Income | 0 | 0 | - | 0 | 0 | - | | PBT after EO | 427.3 | 471 | -9.28 | 1740.7 | 1803.8 | -3.50 | | Taxation | 117.1 | 129.6 | -9.65 | 477.2 | 497.5 | -4.08 | | PAT | 310.2 | 341.4 | -9.14 | 1263.5 | 1306.3 | -3.28 | | Minority Interest (MI) | -0.9 | 0.5 | LP | -3.2 | 2.6 | LP | | Net profit | 311.1 | 340.9 | -8.74 | 1266.7 | 1303.7 | -2.84 | | P/(L) from discontinued operations net of tax | 0 | 0 | - | 0 | 0 | - | | Net profit after discontinued operations | 311.1 | 340.9 | -8.74 | 1266.7 | 1303.7 | -2.84 | | EPS (Rs)* | 29.38 | 32.20 | -8.74 | 119.64 | 123.13 | -2.84 | | | * EPS is on current equity of Rs 21.18 crore, Face value of Rs 2, Excluding extraordinary items. | | # EPS is not annualised | | bps : Basis points | | EO : Extraordinary items | | Figures in Rs crore | | Source: Capitaline Corporate Database |
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| L&T Technology Services : Consolidated Segment Results |
| | Quarter ended | Year ended |
|---|
| % of (Total) | 202503 | 202403 | Var.(%) | % of (Total) | 202503 | 202403 | Var.(%) |
|---|
| Sales | | Transportation | 0.00 | 0.00 | 0.00 | - | | Process Engineering | 0.00 | 0.00 | 0.00 | - | | Industrial Products | 0.00 | 0.00 | 0.00 | - | | Medical Devices | 0.00 | 0.00 | 0.00 | - | | Telecom | 0.00 | 0.00 | 0.00 | - | | Mobility | 29.26 | 872.70 | 811.30 | 7.57 | 32.88 | 3,508.70 | 3,161.30 | 10.99 | | Sustainability | 28.78 | 858.30 | 760.50 | 12.86 | 30.15 | 3,216.70 | 2,989.50 | 7.60 | | Hi-Tech | 41.96 | 1,251.40 | 965.70 | 29.58 | 36.97 | 3,944.70 | 3,496.50 | 12.82 | | Total Reported Sales | 100.00 | 2,982.40 | 2,537.50 | 17.53 | 100.00 | 10,670.10 | 9,647.30 | 10.60 | | Less: Inter segment revenues | | 0.00 | 0.00 | - | | 0.00 | 0.00 | - | | Net Sales | 100.00 | 2,982.40 | 2,537.50 | 17.53 | 100.00 | 10,670.10 | 9,647.30 | 10.60 | | PBIT | | Transportation | 0.00 | 0.00 | 0.00 | - | | Process Engineering | 0.00 | 0.00 | 0.00 | - | | Industrial Products | 0.00 | 0.00 | 0.00 | - | | Medical Devices | 0.00 | 0.00 | 0.00 | - | | Telecom | 0.00 | 0.00 | 0.00 | - | | Mobility | 33.56 | 164.50 | 162.20 | 1.42 | 34.33 | 670.20 | 620.20 | 8.06 | | Sustainability | 40.58 | 198.90 | 218.80 | -9.10 | 41.25 | 805.40 | 843.80 | -4.55 | | Hi-Tech | 25.87 | 126.80 | 150.80 | -15.92 | 24.42 | 476.80 | 541.20 | -11.90 | | Total PBIT | 100.00 | 490.20 | 531.80 | -7.82 | 100.00 | 1,952.40 | 2,005.20 | -2.63 | | Less : Interest | | 15.90 | 13.20 | 20.45 | | 56.50 | 50.90 | 11.00 | | Add: Other un-allcoable | | -47.00 | -47.60 | 1.26 | | -155.20 | -150.50 | -3.12 | | PBIT Margin(%) | | Transportation | | 0.00 | 0.00 | 0.00 | | Process Engineering | | 0.00 | 0.00 | 0.00 | | Industrial Products | | 0.00 | 0.00 | 0.00 | | Medical Devices | | 0.00 | 0.00 | 0.00 | | Telecom | | 0.00 | 0.00 | 0.00 | | Mobility | | 18.85 | 19.99 | -114.31 | | 19.10 | 19.62 | -51.74 | | Sustainability | | 23.17 | 28.77 | -559.68 | | 25.04 | 28.23 | -318.74 | | Hi-Tech | | 10.13 | 15.62 | -548.30 | | 12.09 | 15.48 | -339.12 | | PBT | 100.00 | 427.30 | 471.00 | -9.28 | 100.00 | 1,740.70 | 1,803.80 | -3.50 |
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