L&t Technology Services Ltd. · NSE:LTTS
L&t Technology Services — Q1 FY24 Earnings Presentation
17 slides from L&t Technology Services's earnings presentation, Jul 18, 2023
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 July 18, 2023 National Stock Exchange of India Limited BSE Limited Exchange Plaza, Bandra-Kurla Complex Phiroze Jeejeebhoy Towers, Bandra (East), Mumbai
Slide 2: L&T Technology Services reports 15% growth in Q1FY24
L&T Technology Services reports 15% growth in Q1FY24 Reaffirms $1.5Bn revenue run-rate in FY25 Q1 Revenue of ₹2,301 crore, up 15% YoY Q1 Net profit of ₹311 crore, up 13% YoY Mumbai, July 18, 2023: L&T Technology Services Limited (BSE: 540115, NSE: LTTS), India’s leading pure-play engineering service
Slide 3: Recognitions, patents, human resources and company profile
• LTTS is recognized as a Great Place to WorkTM for second time in a row in India and in Poland for the first time. LTTS scored high on parameters like credibility, respect and pride as well as high overall participation from employees. • LTTS was also recognized as the Leadership Factory of India b
Slide 4: First Quarter FY24 Results - Investor Release
ENGINEERING THE CHANGE L&T TECHNOLOGY SERVICES LIMITED FIRST QUARTER | FY 24 RESULTS Investor Release | Mumbai, India, July 18, 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 Effective April 1, 2023, LTTS completed the acquisition of Smart World & Communication (SWC) Business of L&T. In compliance with Ind AS requirements applicable to common control transactions, all previous period financials have been re-stated to include the SWC Business. As a re
Slide 7: Message from the CEO & Managing Director
MESSAGE FROM THE CEO & MANAGING DIRECTOR We had a good start in the new fiscal with Q1 revenue clocking 10% growth YoY to $280 million, a healthy addition of large deal wins and operationally strong results. Demand trends remain strong in Transportation which led to a 4% sequential growth in the qua
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 has secured a $50 million contract with a global technology company, to enable new opportunities for digital video platforms. The deal
Slide 9: Financial Performance
FINANCIAL PERFORMANCE INCOME STATEMENT (CONSOLIDATED) Amount in ₹ million Q1 FY23 Q4 FY23 Q1 FY24 QoQ YoY Revenue 20,062 23,706 23,014 -2.9% 14.7% Cost of sales 13,783 16,559 16,101 Gross Profit 6,279 7,147 6,913 -3.3% 10.1% Selling, General & Administration Expenses 2,203 2,344 2,385 EBITDA 4,076 4
Slide 10: Other Income
Amount in ₹ million OTHER INCOME Q1 FY23 Q4 FY23 Q1 FY24 Income from investments, net 233 390 338 Foreign exchange gains/(loss) 102 75 100 Others -35 -75 -81 Total 300 390 357 Note: All previous period financials have been re-stated to include the SWC Business PAGE 7 L&T TECHNOLOGY SERVICES | Q1 FY
Slide 11: Balance Sheet and Cash Flow Summary
BALANCE SHEET (CONSOLIDATED) Amount in ₹ million FY23 Q1FY24 Assets Property and equipment 6,692 6,630 Intangible Assets and Goodwill 6,402 6,363 Accounts Receivable 28,066 27,145 Unbilled Revenues 4,684 5,869 Investments 22,840 17,727 Cash and Cash equivalents 6,899 6,217 Other current assets 3,033
Slide 12: Operational Performance
OPERATIONAL PERFORMANCE QoQ YoY In Constant Currency Q1 FY23 Q4 FY23 Q1 FY24 Growth Growth QoQ Growth YoY Growth Revenue (USD Mn) 256.7 288.4 280.0 -2.9% 9.1% -2.9% 10.0% REVENUE BY VERTICAL Q1 FY23 Q4 FY23 Q1 FY24 QoQ Growth YoY Growth Transportation 30.9% 30.6% 32.7% 3.9% 15.3% Industrial Products
Slide 13: Revenue Mix, Project Type and Client Profile
REVENUE MIX Q1 FY23 Q4 FY23 Q1 FY24 Onsite 40.9% 38.0% 40.7% Offshore 59.1% 62.0% 59.3% REVENUE BY PROJECT TYPE Q1 FY23 Q4 FY23 Q1 FY24 Fixed Price 31.8% 37.3% 35.6% Time and Material Contract 68.2% 62.7% 64.4% CLIENT PROFILE Q1 FY23 Q4 FY23 Q1 FY24 Number of Active Clients 350 356 357 30 Million do
Slide 14: Client Contribution, Employee Statistics, Exchange Rate
CLIENT CONTRIBUTION TO REVENUE Q1 FY23 Q4 FY23 Q1 FY24 Top 5 Clients 18.5% 14.6% 14.7% Top 10 Clients 28.8% 25.6% 25.9% Top 20 Clients 43.4% 40.8% 41.4% Client contribution is based on LTM (Last Twelve Months) revenue EMPLOYEE STATISTICS Q1 FY23 Q4 FY23 Q1 FY24 Total Headcount 22,131 23,074 23,392 B
Slide 15: Industry Recognitions and Other Highlights
INDUSTRY RECOGNITIONS • LTTS is recognized as a Great Place to Work for the second time in a row in India and in Poland for the first time. LTTS scored high on parameters TM like credibility, respect and pride as well as high overall participation from employees. • LTTS was also recognized as the Le
Slide 16: Patents and Corporate Social Responsibility
PATENTS At the end of Q1FY24, the patents portfolio of L&T Technology Services stood at 1,145, out of which 757 CORPORATE are co-authored SOCIAL with its customers and the rest are filed by LTTS. RESPONSIBILITY CORPORATE SOCIAL RESPONSIBILITY Key CSR initiatives undertaken by LTTS in Q1 FY24 include
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
L&T Technology Services — Q1 FY24 Earnings Presentation on 6ix