L&t Technology Services Ltd. · NSE:LTTS
L&t Technology Services — Q2 FY24 Earnings Presentation
17 slides from L&t Technology Services's earnings presentation, Oct 18, 2023
Slide 1: Exchange cover letter: Press Release and Investor Release
L&T Technology Services Limited A.M. Naik Tower,6th Floor, L&T Campus, Gate No.3, Jogeshwari-Vikhroli Link Road, Powai, Mumbai-400072. www.ltts.com October 17, 2023 National Stock Exchange of India Limited BSE Limited Exchange Plaza, Bandra-Kurla Complex Phiroze Jeejeebhoy Towers, Bandra (East), Mum
Slide 2: L&T Technology Services reports strong revenue, deal wins and margin performance in Q2FY24
L&T Technology Services reports strong revenue, deal wins and margin performance in Q2FY24 Q2 Revenue of ₹2,387 crore, up 5% YoY and 4% QoQ Q2 Net profit of ₹315 crore, up 5% YoY Mumbai, October 17, 2023: L&T Technology Services Limited (BSE: 540115, NSE: LTTS), India’s leading pure-play engineering
Slide 3: Recognitions, patents, human resources and about LTTS
• LTTS was named the Winner of the Golden Peacock Award for ESG, 2023 • FICCI awarded LTTS the HR Innovation Award for 2023 • The Indo American Chamber of Commerce felicitated LTTS CEO and MD, Amit Chadha as Corporate Leader of the Year, 2023 Patents At the end of Q2FY24, the patents portfolio of L&
Slide 4: Second Quarter FY24 Results
ENGINEERING THE CHANGE L&T TECHNOLOGY SERVICES LIMITED SECOND QUARTER | FY 24 RESULTS Investor Release | Mumbai, India, October 17, 2023
Slide 5: Safe Harbour Statement
SAFE HARBOUR STATEMENT Certain statements in this release concerning our future growth prospects are forward-looking statements, which involve number of risks, and uncertainties that could cause our actual results to differ materially from those in such forward-looking statements. L&T Technology Ser
Slide 6: Financial Highlights
FINANCIAL HIGHLIGHTS REVENUE IN INR • Revenue of ₹23,865 million for the quarter; up 3.7% QoQ and up 4.6% YoY REVENUE IN USD • Revenue of $288.1 million for the quarter; up 2.9% QoQ and up 1.8% YoY; in constant currency up 3.2% QoQ and up 1.4% YoY PROFIT IN INR • EBIT of ₹4,075 million for the quart
Slide 7: Message from the CEO & Managing Director
MESSAGE FROM THE CEO & MANAGING DIRECTOR We had a strong quarter with 3.2% sequential growth in constant currency led by broad-based growth across all 5 segments. Large deal wins were again broad based, with 7 deals more than USD 10 million plus TCV out of which 6 were USD 15 million each. Among the
Slide 8: Performance Highlights: Key Deal Wins
PERFORMANCE HIGHLIGHTS KEY DEAL WINS LTTS closed several multi-million dollar projects from global customers across segments. The major wins are listed below: • LTTS signed a multi-year deal with a global oilfield services provider to set up a software center of excellence in India, for their digita
Slide 9: Financial Performance
FINANCIAL PERFORMANCE INCOME STATEMENT (CONSOLIDATED) Amount in ₹ million Q2 FY23 Q1 FY24 Q2 FY24 QoQ YoY Revenue 22,817 23,014 23,865 3.7% 4.6% Cost of sales 16,167 16,101 17,175 Gross Profit 6,650 6,913 6,690 -3.2% 0.6% Selling, General & Administration Expenses 2,276 2,385 1,934 EBITDA 4,374 4,52
Slide 10: Other Income
Amount in ₹ million OTHER INCOME Q2 FY23 Q1 FY24 Q2 FY24 Income from investments, net 247 338 306 Foreign exchange gains/(loss) 112 100 100 Others -80 -81 -120 Total 279 357 286 Note: All previous period financials have been re-stated to include the SWC Business PAGE 7 L&T TECHNOLOGY SERVICES | Q2 F
Slide 11: Balance Sheet and Cash Flow Summary (Consolidated)
BALANCE SHEET (CONSOLIDATED) Amount in ₹ million FY23 Q2FY24 Assets Property and equipment 6,692 8,731 Intangible Assets and Goodwill 6,402 6,330 Accounts Receivable 28,066 27,285 Unbilled Revenues 4,684 5,657 Investments 22,840 13,204 Cash and Cash equivalents 6,899 9,488 Other current assets 3,033
Slide 12: Operational Performance
OPERATIONAL PERFORMANCE QoQ YoY In Constant Currency Q2 FY23 Q1 FY24 Q2 FY24 Growth Growth QoQ Growth YoY Growth Revenue (USD Mn) 283.0 280.0 288.1 2.9% 1.8% 3.2% 1.4% REVENUE BY VERTICAL Q2 FY23 Q1 FY24 Q2 FY24 QoQ Growth YoY Growth Transportation 30.2% 32.7% 33.2% 4.4% 12.1% Industrial Products 16
Slide 13: Revenue Mix, Project Type and Client Profile
REVENUE MIX Q2 FY23 Q1 FY24 Q2 FY24 Onsite 39.4% 40.7% 40.4% Offshore 60.6% 59.3% 59.6% REVENUE BY PROJECT TYPE Q2 FY23 Q1 FY24 Q2 FY24 Fixed Price 36.2% 35.6% 35.8% Time and Material Contract 63.8% 64.4% 64.2% CLIENT PROFILE Q2 FY23 Q1 FY24 Q2 FY24 Number of Active Clients 358 357 362 30 Million do
Slide 14: Client Contribution, Employee Statistics, Exchange Rate
CLIENT CONTRIBUTION TO REVENUE Q2 FY23 Q1 FY24 Q2 FY24 Top 5 Clients 17.7% 14.7% 14.9% Top 10 Clients 27.8% 25.9% 26.1% Top 20 Clients 42.1% 41.4% 41.7% Client contribution is based on LTM (Last Twelve Months) revenue EMPLOYEE STATISTICS Q2 FY23 Q1 FY24 Q2 FY24 Total Headcount 22,265 23,392 23,880 B
Slide 15: Industry Recognitions and Other Highlights
INDUSTRY RECOGNITIONS • Rated by ISG as leaders in Manufacturing Industry Services and Solutions 2023 - Digital Factory/Manufacturing Solutions, North America and Agile Product Development and Design Services • Positioned as leaders in Everest Group’s ACES Automotive Engineering Services PEAK Matrix
Slide 16: Patents and Corporate Social Responsibility
PATENTS At the end of Q2FY24, the patents portfolio of L&T Technology Services stood at 1,198, out of which 785 CORPORATE are co-authored SOCIAL with its customers and the rest are filed by LTTS. RESPONSIBILITY CORPORATE SOCIAL RESPONSIBILITY As part of its Social Responsibility mandate, LTTS undert
Slide 17: About L&T Technology Services
ABOUT L&T TECHNOLOGY SERVICES L&T Technology Services Limited (LTTS) is a listed subsidiary of Larsen & Toubro Limited focused on Engineering and R&D (ER&D) services. We offer consultancy, design, development and testing services across the product and process development life cycle. Our customer ba
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