L&t Technology Services Ltd. · NSE:LTTS
L&t Technology Services — Q3 FY24 Earnings Presentation
18 slides from L&t Technology Services's earnings presentation, Jan 16, 2024
Slide 1: Cover letter to stock exchanges
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 January 16, 2024 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 double-digit growth in revenue and profit in Q3FY24
L&T Technology Services reports double-digit growth in revenue and profit in Q3FY24 Q3 Revenue of ₹2,422 crore, up 12% YoY and 2% QoQ Q3 Net profit of ₹336 crore, up 13% YoY Mumbai, January 16, 2024: L&T Technology Services Limited (BSE: 540115, NSE: LTTS), India’s leading pure-play engineering serv
Slide 3: Recognitions, Patents, Human Resources and About LTTS
• Chosen as the Most Preferred Workspace 2023 - 24 in the IT/ ITES category by Marksmen Daily • The second annual Digital Engineering Awards, co-hosted by ISG, L&T Technology Services, and CNBC-TV18, celebrated organizations and individuals from 10 diverse sectors operating across North America, Eur
Slide 4: Third Quarter FY24 Results
ENGINEERING THE CHANGE L&T TECHNOLOGY SERVICES LIMITED THIRD QUARTER | FY 24 RESULTS Investor Release | Mumbai, India, January 16, 2024
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 ₹24,218 million for the quarter; up 1.5% QoQ and up 12.3% YoY REVENUE IN USD • Revenue of $290.7 million for the quarter; up 0.9% QoQ and up 11.3% YoY; in constant currency up 0.9% QoQ and up 11.0% YoY PROFIT IN INR • EBIT of ₹4,162 million for the qu
Slide 7: Message from the CEO & Managing Director
MESSAGE FROM THE CEO & MANAGING DIRECTOR All 5 segments grew positively for the second quarter in a row giving us 1% sequential growth despite the seasonal softness. 2 of our units - Industrial Products segment and Europe region have scaled the USD 200 million run-rate on annualized basis. Our opera
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: • bp plc. and L&T Technology Services signed a landmark multi-year engineering services partnership. The relationship will leverage over 2 de
Slide 9: Key Deal Wins (continued)
• LTTS has clinched a new engagement from a leading European automaker to provide engineering design, vehicle platform software, electrification and propulsion computer-aided engineering • LTTS has secured a multi-million dollar deal with a leading renewables OEM in Europe, to deliver Industry 4.0 &
Slide 10: Financial Performance
FINANCIAL PERFORMANCE INCOME STATEMENT (CONSOLIDATED) Amount in ₹ million Q3 FY23 Q2 FY24 Q3 FY24 QoQ YoY Revenue 21,570 23,865 24,218 1.5% 12.3% Cost of sales 14,822 17,175 17,141 Gross Profit 6,748 6,690 7,077 5.8% 4.9% Selling, General & Administration Expenses 2,392 1,934 2,200 EBITDA 4,356 4,75
Slide 11: Other Income
Amount in ₹ million OTHER INCOME Q3 FY23 Q2 FY24 Q3 FY24 Income from investments, net 328 306 305 Foreign exchange gains/(loss) 386 100 159 Others -94 -120 29 Total 620 286 493 Note: All previous period financials have been re-stated to include the SWC Business PAGE 8 L&T TECHNOLOGY SERVICES | Q3 FY
Slide 12: Balance Sheet and Cash Flow Summary (Consolidated)
BALANCE SHEET (CONSOLIDATED) Amount in ₹ million FY23 Q3FY24 Assets Property and equipment 6,692 9,239 Intangible Assets and Goodwill 6,402 6,302 Accounts Receivable 28,066 28,758 Unbilled Revenues 4,684 5,419 Investments 22,840 14,125 Cash and Cash equivalents 6,899 8,602 Other current assets 3,033
Slide 13: Operational Performance
OPERATIONAL PERFORMANCE QoQ YoY In Constant Currency Q3 FY23 Q2 FY24 Q3 FY24 Growth Growth QoQ Growth YoY Growth Revenue (USD Mn) 261.2 288.1 290.7 0.9% 11.3% 0.9% 11.0% REVENUE BY VERTICAL Q3 FY23 Q2 FY24 Q3 FY24 QoQ Growth YoY Growth Transportation 34.1% 33.2% 33.2% 0.9% 8.3% Industrial Products 1
Slide 14: Revenue Mix, Project Type and Client Profile
REVENUE MIX Q3 FY23 Q2 FY24 Q3 FY24 Onsite 40.8% 40.4% 41.3% Offshore 59.2% 59.6% 58.7% REVENUE BY PROJECT TYPE Q3 FY23 Q2 FY24 Q3 FY24 Fixed Price 32.2% 35.8% 38.5% Time and Material Contract 67.8% 64.2% 61.5% CLIENT PROFILE Q3 FY23 Q2 FY24 Q3 FY24 Number of Active Clients 356 362 364 30 Million do
Slide 15: Client Contribution, Employee Statistics, Exchange Rate
CLIENT CONTRIBUTION TO REVENUE Q3 FY23 Q2 FY24 Q3 FY24 Top 5 Clients 16.6% 14.9% 15.7% Top 10 Clients 26.9% 26.1% 26.6% Top 20 Clients 41.5% 41.7% 41.7% Client contribution is based on LTM (Last Twelve Months) revenue EMPLOYEE STATISTICS Q3 FY23 Q2 FY24 Q3 FY24 Total Headcount 22,501 23,880 23,298 B
Slide 16: Industry Recognitions and Other Highlights
INDUSTRY RECOGNITIONS • Zinnov rates LTTS in the leadership zone across 14 Engineering domains: - Rated as leaders in Overall 2023 ER&D Services - Digital Engineering Services, Data & AI Engineering Services and Industry 4.0 Ratings 2023 - Leadership across Automotive, Aerospace, Electrification, In
Slide 17: Patents and Corporate Social Responsibility
PATENTS At the end of Q3FY24, the patents portfolio of L&T Technology Services stood at 1,249, out of which 811 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 18: 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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