L&T Technology Serv.
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July 14 (Reuters) - L&T Technology Services Ltd LTEH.NS:
L&T TECHNOLOGY SERVICES Q1 CONSOL NET PROFIT 3.57 BILLION RUPEES
L&T TECHNOLOGY SERVICES Q1 CONSOL REVENUE FROM OPERATIONS 29.4 BILLION RUPEES
Source text: ID:nBSE7gbngB
Further company coverage: LTEH.NS
(([email protected];))
July 14 (Reuters) - L&T Technology Services Ltd LTEH.NS:
L&T TECHNOLOGY SERVICES Q1 CONSOL NET PROFIT 3.57 BILLION RUPEES
L&T TECHNOLOGY SERVICES Q1 CONSOL REVENUE FROM OPERATIONS 29.4 BILLION RUPEES
Source text: ID:nBSE7gbngB
Further company coverage: LTEH.NS
(([email protected];))
May 12 (Reuters) - L&T Technology Services Ltd LTEH.NS:
LT TECH - CO AND EMERSON ANNOUNCE GLOBAL COOPERATION TO DRIVE ENGINEERING INNOVATION
LT TECH - LTTS TO ESTABLISH CENTRE OF EXCELLENCE AT MYSURU CAMPUS IN INDIA
Further company coverage: LTEH.NS
(([email protected];))
May 12 (Reuters) - L&T Technology Services Ltd LTEH.NS:
LT TECH - CO AND EMERSON ANNOUNCE GLOBAL COOPERATION TO DRIVE ENGINEERING INNOVATION
LT TECH - LTTS TO ESTABLISH CENTRE OF EXCELLENCE AT MYSURU CAMPUS IN INDIA
Further company coverage: LTEH.NS
(([email protected];))
April 22 (Reuters) - Indian IT services firm L&T Technology Services LTEH.NS missed fourth-quarter revenue and profit estimates on Wednesday, weighed down by weaker demand in its technology and mobility segments and a one-time restructuring charge.
Here are the details:
The company posted consolidated revenue of 28.58 billion rupees ($304.71 million) for the quarter ended March 31, below analyst estimates of 29.64 billion rupees, according to data from LSEG.
It recorded an exceptional charge of 370 million rupees related to the closure and restructuring of some overseas operations.
Net profit was 3.32 billion rupees ($35.40 million), missing analyst estimates of 3.4 billion rupees.
Engineering research and development (ER&D) firms rely heavily on outsourced work from U.S. and European clients.
Demand for their services has slowed in recent quarters amid geopolitical uncertainties.
Revenue from North America, which accounts for more than half of overall revenue, grew 3.1% year-on-year. But revenue from Europe, India and other geographies declined.
The Larsen & Toubro <LART.NS> group firm said revenue growth in its tech segment, its largest business, fell 6.4% from a year earlier. Revenue from its mobility unit declined 3% year-on-year.
On Tuesday, peer Tata Elxsi TTEX.NS beat profit estimates, led by growth in its transport and media units. Tata Technologies TATE.NS is scheduled to report results early next month.
($1 = 93.7900 Indian rupees)
(Reporting by Bipasha Dey in Bengaluru; Editing by Ronojoy Mazumdar and Sahal Muhammed)
(([email protected];))
April 22 (Reuters) - Indian IT services firm L&T Technology Services LTEH.NS missed fourth-quarter revenue and profit estimates on Wednesday, weighed down by weaker demand in its technology and mobility segments and a one-time restructuring charge.
Here are the details:
The company posted consolidated revenue of 28.58 billion rupees ($304.71 million) for the quarter ended March 31, below analyst estimates of 29.64 billion rupees, according to data from LSEG.
It recorded an exceptional charge of 370 million rupees related to the closure and restructuring of some overseas operations.
Net profit was 3.32 billion rupees ($35.40 million), missing analyst estimates of 3.4 billion rupees.
Engineering research and development (ER&D) firms rely heavily on outsourced work from U.S. and European clients.
Demand for their services has slowed in recent quarters amid geopolitical uncertainties.
Revenue from North America, which accounts for more than half of overall revenue, grew 3.1% year-on-year. But revenue from Europe, India and other geographies declined.
The Larsen & Toubro <LART.NS> group firm said revenue growth in its tech segment, its largest business, fell 6.4% from a year earlier. Revenue from its mobility unit declined 3% year-on-year.
On Tuesday, peer Tata Elxsi TTEX.NS beat profit estimates, led by growth in its transport and media units. Tata Technologies TATE.NS is scheduled to report results early next month.
($1 = 93.7900 Indian rupees)
(Reporting by Bipasha Dey in Bengaluru; Editing by Ronojoy Mazumdar and Sahal Muhammed)
(([email protected];))
April 17 (Reuters) - L&T Technology Services Ltd LTEH.NS:
PARTNERS WITH GLOBAL ENERGY MAJOR FOR DIGITAL EXPERTISE CENTRE IN INDIA
Source text: ID:nNSE4l2sns
Further company coverage: LTEH.NS
(([email protected];;))
April 17 (Reuters) - L&T Technology Services Ltd LTEH.NS:
PARTNERS WITH GLOBAL ENERGY MAJOR FOR DIGITAL EXPERTISE CENTRE IN INDIA
Source text: ID:nNSE4l2sns
Further company coverage: LTEH.NS
(([email protected];;))
March 16 (Reuters) - L&T Technology Services Ltd LTEH.NS:
L&T TECH - LAUNCHES AI-POWERED DIGITAL TWIN PLATFORM FOR LUNG DIAGNOSTICS
Source text: ID:nNSE2Pngwd
Further company coverage: LTEH.NS
(([email protected];;))
March 16 (Reuters) - L&T Technology Services Ltd LTEH.NS:
L&T TECH - LAUNCHES AI-POWERED DIGITAL TWIN PLATFORM FOR LUNG DIAGNOSTICS
Source text: ID:nNSE2Pngwd
Further company coverage: LTEH.NS
(([email protected];;))
Jan 15 (Reuters) - L&T Technology Services Ltd LTEH.NS:
L&T TECHNOLOGY SERVICES Q3 CONSOL NET PROFIT 3.03 BILLION RUPEES; IBES EST. 3.38 BILLION RUPEES
L&T TECHNOLOGY SERVICES Q3 CONSOL REVENUE FROM OPERATIONS 29.24 BILLION RUPEES; IBES EST 30.41 BILLION RUPEES
L&T TECH - RECORDS ONE-TIME CHARGE OF 354 MLN RUPEES RELATED TO INDIA'S LABOUR CODES
L&T TECH - GUIDING FOR MID-SINGLE-DIGIT OVERALL GROWTH IN FY26
Further company coverage: LTEH.NS
(([email protected];))
Jan 15 (Reuters) - L&T Technology Services Ltd LTEH.NS:
L&T TECHNOLOGY SERVICES Q3 CONSOL NET PROFIT 3.03 BILLION RUPEES; IBES EST. 3.38 BILLION RUPEES
L&T TECHNOLOGY SERVICES Q3 CONSOL REVENUE FROM OPERATIONS 29.24 BILLION RUPEES; IBES EST 30.41 BILLION RUPEES
L&T TECH - RECORDS ONE-TIME CHARGE OF 354 MLN RUPEES RELATED TO INDIA'S LABOUR CODES
L&T TECH - GUIDING FOR MID-SINGLE-DIGIT OVERALL GROWTH IN FY26
Further company coverage: LTEH.NS
(([email protected];))
Oct 9 (Reuters) - Indian engineering research and development (ER&D) firm Tata Elxsi TTEL.NS reported a fourth straight quarter of widening profit fall on Thursday, as its key transportation business declined amid uncertain markets and geopolitical tensions.
The company, which relies heavily on the auto industry, said net profit fell 32.5% to 1.55 billion rupees ($17.46 million) in the July-September period year-on-year. In the previous three quarters, it had reported a profit fall of between 3.6% and 21.6%.
ER&D firms, which depend on work outsourced by U.S. and European clients, have been under pressure as global automotive clients cut back on investments and R&D spending, reeling from the impact of U.S. tariffs, according to analysts.
Tata Elxsi, which counts Jaguar Land Rover (JLR) among its largest clients, said in July that industry- and customer-specific issues had affected R&D spending and decision-making cycles across geographies.
It added that the global automotive industry remains in flux amid uncertainties surrounding the Chinese market and tariffs, casting a cloud over clients’ R&D plans, while major auto parts makers continue to face challenges.
JLR's temporary production shutdown following a September cyber attack in Britain is also expected to weigh on Tata Elxsi’s quarterly revenue, analysts had said ahead of the results.
Revenue from the transportation segment - Tata Elxsi's biggest - fell 9.9% year-on-year in the second quarter. The segment provides software and engineering services to auto and auto parts makers, including design of parts and technologies.
Its core profit margin came in at 21.1% in the quarter, down from 27.9% a year ago, but bigger than the 20.9% of last quarter.
Overall revenue fell by 3.9% to 9.18 billion rupees.
Shares of the company closed 2.1% higher ahead of results.
($1 = 88.7830 Indian rupees)
Stock performance of Indian ER&D firms during second quarter https://reut.rs/3KGf0Dq
(Reporting by Aleef Jahan, Komal Salecha; Editing by Harikrishnan Nair)
(([email protected];))
Oct 9 (Reuters) - Indian engineering research and development (ER&D) firm Tata Elxsi TTEL.NS reported a fourth straight quarter of widening profit fall on Thursday, as its key transportation business declined amid uncertain markets and geopolitical tensions.
The company, which relies heavily on the auto industry, said net profit fell 32.5% to 1.55 billion rupees ($17.46 million) in the July-September period year-on-year. In the previous three quarters, it had reported a profit fall of between 3.6% and 21.6%.
ER&D firms, which depend on work outsourced by U.S. and European clients, have been under pressure as global automotive clients cut back on investments and R&D spending, reeling from the impact of U.S. tariffs, according to analysts.
Tata Elxsi, which counts Jaguar Land Rover (JLR) among its largest clients, said in July that industry- and customer-specific issues had affected R&D spending and decision-making cycles across geographies.
It added that the global automotive industry remains in flux amid uncertainties surrounding the Chinese market and tariffs, casting a cloud over clients’ R&D plans, while major auto parts makers continue to face challenges.
JLR's temporary production shutdown following a September cyber attack in Britain is also expected to weigh on Tata Elxsi’s quarterly revenue, analysts had said ahead of the results.
Revenue from the transportation segment - Tata Elxsi's biggest - fell 9.9% year-on-year in the second quarter. The segment provides software and engineering services to auto and auto parts makers, including design of parts and technologies.
Its core profit margin came in at 21.1% in the quarter, down from 27.9% a year ago, but bigger than the 20.9% of last quarter.
Overall revenue fell by 3.9% to 9.18 billion rupees.
Shares of the company closed 2.1% higher ahead of results.
($1 = 88.7830 Indian rupees)
Stock performance of Indian ER&D firms during second quarter https://reut.rs/3KGf0Dq
(Reporting by Aleef Jahan, Komal Salecha; Editing by Harikrishnan Nair)
(([email protected];))
Aug 21 (Reuters) - L&T Technology Services Ltd LTEH.NS:
LAUNCHES PLXAI, PROPRIETARY GENAI FRAMEWORK
Source text: [ID:]
Further company coverage: LTEH.NS
(([email protected];;))
Aug 21 (Reuters) - L&T Technology Services Ltd LTEH.NS:
LAUNCHES PLXAI, PROPRIETARY GENAI FRAMEWORK
Source text: [ID:]
Further company coverage: LTEH.NS
(([email protected];;))
July 16 (Reuters) - L&T Technology Services Ltd LTEH.NS:
EXPECT TO CLOCK DOUBLE-DIGIT GROWTH IN FY26, MAINTAIN MEDIUM-TERM OUTLOOK OF $2 BILLION REVENUE
EXPECT EBIT MARGINS TO SEE AN IMPROVEMENT IN THE COMING QUARTERS
Source text: ID:nBSE6BMf1k
Further company coverage: LTEH.NS
(([email protected];;))
July 16 (Reuters) - L&T Technology Services Ltd LTEH.NS:
EXPECT TO CLOCK DOUBLE-DIGIT GROWTH IN FY26, MAINTAIN MEDIUM-TERM OUTLOOK OF $2 BILLION REVENUE
EXPECT EBIT MARGINS TO SEE AN IMPROVEMENT IN THE COMING QUARTERS
Source text: ID:nBSE6BMf1k
Further company coverage: LTEH.NS
(([email protected];;))
July 2 (Reuters) - L&T Technology Services Ltd LTEH.NS:
L&T TECHNOLOGY SERVICES - CHOSEN BY TRATON GROUP AS STRATEGIC ENGINEERING PARTNER
Source text: ID:nBSE1tDRKT
Further company coverage: LTEH.NS
(([email protected];))
July 2 (Reuters) - L&T Technology Services Ltd LTEH.NS:
L&T TECHNOLOGY SERVICES - CHOSEN BY TRATON GROUP AS STRATEGIC ENGINEERING PARTNER
Source text: ID:nBSE1tDRKT
Further company coverage: LTEH.NS
(([email protected];))
June 30 (Reuters) - L&T Technology Services Ltd LTEH.NS:
L&T TECHNOLOGY SERVICES LTD - CO, THYSSENKRUPP STEERING ENTER STRATEGIC PARTNERSHIP
L&T TECHNOLOGY SERVICES LTD - AGREEMENT TO ESTABLISH SOFTWARE DEVELOPMENT CENTER IN PUNE
Source text: ID:nBSE8zHJty
Further company coverage: LTEH.NS
(([email protected];))
June 30 (Reuters) - L&T Technology Services Ltd LTEH.NS:
L&T TECHNOLOGY SERVICES LTD - CO, THYSSENKRUPP STEERING ENTER STRATEGIC PARTNERSHIP
L&T TECHNOLOGY SERVICES LTD - AGREEMENT TO ESTABLISH SOFTWARE DEVELOPMENT CENTER IN PUNE
Source text: ID:nBSE8zHJty
Further company coverage: LTEH.NS
(([email protected];))
June 25 (Reuters) - L&T Technology Services Ltd LTEH.NS:
SELECTED AS EXCLUSIVE GLOBAL ENGINEERING PARTNER
FIVE-YEAR AGREEMENT VALUED AT OVER $50 MILLION
Source text: ID:nBSEzTFz8
Further company coverage: LTEH.NS
(([email protected];;))
June 25 (Reuters) - L&T Technology Services Ltd LTEH.NS:
SELECTED AS EXCLUSIVE GLOBAL ENGINEERING PARTNER
FIVE-YEAR AGREEMENT VALUED AT OVER $50 MILLION
Source text: ID:nBSEzTFz8
Further company coverage: LTEH.NS
(([email protected];;))
March 19 (Reuters) - L&T Technology Services Ltd LTEH.NS:
LAUNCHES AI-POWERED RAILWAY TRACK INSPECTION SOLUTION
Source text: ID:nBSE6j3V96
Further company coverage: LTEH.NS
(([email protected];;))
March 19 (Reuters) - L&T Technology Services Ltd LTEH.NS:
LAUNCHES AI-POWERED RAILWAY TRACK INSPECTION SOLUTION
Source text: ID:nBSE6j3V96
Further company coverage: LTEH.NS
(([email protected];;))
Feb 3 (Reuters) - L&T Technology Services Ltd LTEH.NS:
L&T TECHNOLOGY SERVICES LTD - LTTS SMART WORLD JOINS ARIZONA TECHNOLOGY COUNCIL
Source text: ID:nBSEbzsMLs
Further company coverage: LTEH.NS
(([email protected];;))
Feb 3 (Reuters) - L&T Technology Services Ltd LTEH.NS:
L&T TECHNOLOGY SERVICES LTD - LTTS SMART WORLD JOINS ARIZONA TECHNOLOGY COUNCIL
Source text: ID:nBSEbzsMLs
Further company coverage: LTEH.NS
(([email protected];;))
Jan 29 (Reuters) - L&T Technology Services Ltd LTEH.NS:
L&T TECHNOLOGY SERVICES - SECURES $80 MILLION DIGITAL ENGINEERING DEAL
L&T TECHNOLOGY SERVICES - LTTS TO SET UP CENTER FOR DIGITAL PRODUCTS & SERVICES
Source text: ID:nBSE8f5cJt
Further company coverage: LTEH.NS
(([email protected];))
Jan 29 (Reuters) - L&T Technology Services Ltd LTEH.NS:
L&T TECHNOLOGY SERVICES - SECURES $80 MILLION DIGITAL ENGINEERING DEAL
L&T TECHNOLOGY SERVICES - LTTS TO SET UP CENTER FOR DIGITAL PRODUCTS & SERVICES
Source text: ID:nBSE8f5cJt
Further company coverage: LTEH.NS
(([email protected];))
Jan 23 (Reuters) - Indian engineering and technology firm Cyient CYIE.NS reported a third-quarter profit below analysts' expectations on Thursday, hurt by slower growth in its biggest segment and higher costs.
Its profit declined to 1.22 billion rupees ($14.12 million) for the three months ended Dec. 31, from 1.47 billion rupees a year ago. Analysts had expected 1.71 billion rupees, according to data compiled by LSEG.
Growth in Cyient's transportation division — which contributes 30% to the company's biggest unit, digital, engineering and technology — has eased over the past few quarters due to delays in project starts in the aerospace segment and slowdown in the rail segment.
The downbeat results also echo those of peer engineering, research and design companies (ER&D) Tata Elxsi TTEX.NS and L&T Technology Services LTEH.NS.
ER&D services, which include providing technology support to industries such as aerospace, telecom and automotive, contribute a sixth of the revenue to India's $254-billion technology sector.
Cyient's total expenses rose 9% during the quarter, led by a 26% jump in its cost of materials consumed and a 6% rise in employee expenses.
Revenue from the company's digital, engineering and technology segment, which contributes more than 76% to its total revenue — fell 1%.
Its smaller design-led manufacturing business, Cyient DLM CYIT.NS, posted a 38% rise in revenue.
Cyient's total revenue rose 5.7% to 19.26 billion rupees, beating analysts' estimates.
($1 = 86.4040 Indian rupees)
(Reporting by Aleef Jahan)
Jan 23 (Reuters) - Indian engineering and technology firm Cyient CYIE.NS reported a third-quarter profit below analysts' expectations on Thursday, hurt by slower growth in its biggest segment and higher costs.
Its profit declined to 1.22 billion rupees ($14.12 million) for the three months ended Dec. 31, from 1.47 billion rupees a year ago. Analysts had expected 1.71 billion rupees, according to data compiled by LSEG.
Growth in Cyient's transportation division — which contributes 30% to the company's biggest unit, digital, engineering and technology — has eased over the past few quarters due to delays in project starts in the aerospace segment and slowdown in the rail segment.
The downbeat results also echo those of peer engineering, research and design companies (ER&D) Tata Elxsi TTEX.NS and L&T Technology Services LTEH.NS.
ER&D services, which include providing technology support to industries such as aerospace, telecom and automotive, contribute a sixth of the revenue to India's $254-billion technology sector.
Cyient's total expenses rose 9% during the quarter, led by a 26% jump in its cost of materials consumed and a 6% rise in employee expenses.
Revenue from the company's digital, engineering and technology segment, which contributes more than 76% to its total revenue — fell 1%.
Its smaller design-led manufacturing business, Cyient DLM CYIT.NS, posted a 38% rise in revenue.
Cyient's total revenue rose 5.7% to 19.26 billion rupees, beating analysts' estimates.
($1 = 86.4040 Indian rupees)
(Reporting by Aleef Jahan)
Jan 17 (Reuters) - L&T Technology Services Ltd LTEH.NS:
L&T TECH - GOT ORDER FOR PENALTY 1.1 MILLION RUPEES
Source text: ID:nNSE69R567
Further company coverage: LTEH.NS
(([email protected];))
Jan 17 (Reuters) - L&T Technology Services Ltd LTEH.NS:
L&T TECH - GOT ORDER FOR PENALTY 1.1 MILLION RUPEES
Source text: ID:nNSE69R567
Further company coverage: LTEH.NS
(([email protected];))
Jan 15 (Reuters) - L&T Technology Services Ltd LTEH.NS:
GUIDANCE FOR FY25 IS NEAR 10% REVENUE GROWTH IN CONSTANT CURRENCY
REAFFIRM MEDIUM-TERM OUTLOOK OF $2 BILLION REVENUE WITH EBIT MARGIN OF 17-18%
Source text: ID:nBSE5m3F1x
Further company coverage: LTEH.NS
(([email protected];;))
Jan 15 (Reuters) - L&T Technology Services Ltd LTEH.NS:
GUIDANCE FOR FY25 IS NEAR 10% REVENUE GROWTH IN CONSTANT CURRENCY
REAFFIRM MEDIUM-TERM OUTLOOK OF $2 BILLION REVENUE WITH EBIT MARGIN OF 17-18%
Source text: ID:nBSE5m3F1x
Further company coverage: LTEH.NS
(([email protected];;))
Dec 23 (Reuters) - L&T Technology Services Ltd LTEH.NS:
EXPANDS COLLABORATION WITH SIEMENS
Source text: ID:nBSE2ywk4k
Further company coverage: LTEH.NS
(([email protected];;))
Dec 23 (Reuters) - L&T Technology Services Ltd LTEH.NS:
EXPANDS COLLABORATION WITH SIEMENS
Source text: ID:nBSE2ywk4k
Further company coverage: LTEH.NS
(([email protected];;))
Dec 4 (Reuters) - L&T Technology Services Ltd LTEH.NS:
SECURES $50 MILLION DEAL
MULTI-YEAR AGREEMENT ESTIMATED AT $50 MILLION
Source text: ID:nBSE3xZJLh
Further company coverage: LTEH.NS
(([email protected];;))
Dec 4 (Reuters) - L&T Technology Services Ltd LTEH.NS:
SECURES $50 MILLION DEAL
MULTI-YEAR AGREEMENT ESTIMATED AT $50 MILLION
Source text: ID:nBSE3xZJLh
Further company coverage: LTEH.NS
(([email protected];;))
Nov 18 (Reuters) - L&T Technology Services Ltd LTEH.NS:
ANNOUNCES STRATEGIC COLLABORATION WITH COLORADO SMART CITIES ALLIANCE
Source text: [ID:]
Further company coverage: LTEH.NS
(([email protected];;))
Nov 18 (Reuters) - L&T Technology Services Ltd LTEH.NS:
ANNOUNCES STRATEGIC COLLABORATION WITH COLORADO SMART CITIES ALLIANCE
Source text: [ID:]
Further company coverage: LTEH.NS
(([email protected];;))
Oct 24 (Reuters) - L&T Technology Services Ltd LTEH.NS:
L&T TECH - L&T TECHNOLOGY SERVICES UNVEILS AI EXPERIENCE ZONE BUILT ON NVIDIA AI
L&T TECH - NEW EXPERIENCE ZONE TO CATER TO CLIENTS IN MOBILITY, TECH SEGMENTS
Further company coverage: LTEH.NS
(([email protected];))
Oct 24 (Reuters) - L&T Technology Services Ltd LTEH.NS:
L&T TECH - L&T TECHNOLOGY SERVICES UNVEILS AI EXPERIENCE ZONE BUILT ON NVIDIA AI
L&T TECH - NEW EXPERIENCE ZONE TO CATER TO CLIENTS IN MOBILITY, TECH SEGMENTS
Further company coverage: LTEH.NS
(([email protected];))
Oct 16 (Reuters) - Indian engineering and technology services firm L&T Technology Services LTEH.NS on Wednesday reported second-quarter revenue that edged past estimates, boosted by large deals signed in the previous quarters, and maintained its full-year revenue forecast.
The company's revenue rose 7.8% to 25.73 billion rupees ($306.34 million) for the quarter ended Sept. 30. Analysts had expected 25.67 billion rupees, according to data compiled by LSEG.
The Larsen and Toubro LART.NS group firm reaffirmed its full-year 2025 revenue growth forecast of 8-10% .
Net profit rose 1.3% to 3.2 billion rupees in the quarter, lower than analysts' estimate of 3.33 billion rupees.
Shares of the company closed 0.7% higher, ahead of the results.
KEY CONTEXT
Engineering, research, and design (ER&D) services, which include technology support to industries such as automotive and communications, contribute a sixth of the revenue to India's $254 billion technology sector.
Companies such as L&T Technology Services and peer Tata Elxsi TTEX.NS are likely to benefit from growth in the ER&D sector, which, according to the National Association of Software and Service Companies, is expected to quadruple to as much as $170 billion between 2023 and 2030.
L&T Technology has bagged large deals from auto parts maker Forvia FRVIA.PA and energy giant Shell SHEL.L in the last few quarters, aiding its revenue growth.
Last week, Tata Elxsi reported an increase in its second-quarter profit, with revenue in line with street expectations, fuelled by healthy demand in its transportation unit.
PEER COMPARISON
Valuation (next 12 months) | Estimates (next 12 months) | Analysts' sentiment | |||||||
RIC | PE | EV/EBITDA | Revenue growth | Profit growth | Mean rating* | # of analysts | Stock to price target** | Div yield (%) | |
L&T Technology Services | LTEH.NS | 37.79 | 24.78 | 10.07 | 8.69 | Sell | 27 | 1.15 | 0.98 |
Tata Elxsi | TTEX.NS | 49.01 | 34.99 | 12.09 | 10.39 | Sell | 12 | 1.05 | 1.00 |
Cyient | CYIE.NS | 23.19 | 13.75 | 10.60 | 13.26 | Buy | 17 | 0.86 | 1.62 |
KPIT Technologies | KPIE.NS | 58.92 | 35.94 | 21.52 | 30.54 | Buy | 14 | 1.04 | 0.26 |
* Mean of analysts' ratings standardised to a scale of Strong Buy, Buy, Hold, Sell, and Strong Sell
** Ratio of the stock's last close to analysts' mean price target; a ratio above 1 means the stock is trading above the PT
JULY-SEPTEMBER STOCK PERFORMANCE
-- All data from LSEG
($1 = 83.9920 Indian rupees)
(Reporting by Sai Ishwarbharath B; Editing by Abinaya Vijayaraghavan)
(([email protected];))
Oct 16 (Reuters) - Indian engineering and technology services firm L&T Technology Services LTEH.NS on Wednesday reported second-quarter revenue that edged past estimates, boosted by large deals signed in the previous quarters, and maintained its full-year revenue forecast.
The company's revenue rose 7.8% to 25.73 billion rupees ($306.34 million) for the quarter ended Sept. 30. Analysts had expected 25.67 billion rupees, according to data compiled by LSEG.
The Larsen and Toubro LART.NS group firm reaffirmed its full-year 2025 revenue growth forecast of 8-10% .
Net profit rose 1.3% to 3.2 billion rupees in the quarter, lower than analysts' estimate of 3.33 billion rupees.
Shares of the company closed 0.7% higher, ahead of the results.
KEY CONTEXT
Engineering, research, and design (ER&D) services, which include technology support to industries such as automotive and communications, contribute a sixth of the revenue to India's $254 billion technology sector.
Companies such as L&T Technology Services and peer Tata Elxsi TTEX.NS are likely to benefit from growth in the ER&D sector, which, according to the National Association of Software and Service Companies, is expected to quadruple to as much as $170 billion between 2023 and 2030.
L&T Technology has bagged large deals from auto parts maker Forvia FRVIA.PA and energy giant Shell SHEL.L in the last few quarters, aiding its revenue growth.
Last week, Tata Elxsi reported an increase in its second-quarter profit, with revenue in line with street expectations, fuelled by healthy demand in its transportation unit.
PEER COMPARISON
Valuation (next 12 months) | Estimates (next 12 months) | Analysts' sentiment | |||||||
RIC | PE | EV/EBITDA | Revenue growth | Profit growth | Mean rating* | # of analysts | Stock to price target** | Div yield (%) | |
L&T Technology Services | LTEH.NS | 37.79 | 24.78 | 10.07 | 8.69 | Sell | 27 | 1.15 | 0.98 |
Tata Elxsi | TTEX.NS | 49.01 | 34.99 | 12.09 | 10.39 | Sell | 12 | 1.05 | 1.00 |
Cyient | CYIE.NS | 23.19 | 13.75 | 10.60 | 13.26 | Buy | 17 | 0.86 | 1.62 |
KPIT Technologies | KPIE.NS | 58.92 | 35.94 | 21.52 | 30.54 | Buy | 14 | 1.04 | 0.26 |
* Mean of analysts' ratings standardised to a scale of Strong Buy, Buy, Hold, Sell, and Strong Sell
** Ratio of the stock's last close to analysts' mean price target; a ratio above 1 means the stock is trading above the PT
JULY-SEPTEMBER STOCK PERFORMANCE
-- All data from LSEG
($1 = 83.9920 Indian rupees)
(Reporting by Sai Ishwarbharath B; Editing by Abinaya Vijayaraghavan)
(([email protected];))
Rewrites paragraph 1 with rivals, adds details, background, analyst comments from paragraph 2
By VarunVyas Hebbalalu and Ashna Teresa Britto
Oct 11 (Reuters) - India's Tata Consultancy Services' TCS.NS shares slumped as much as 2.7% on Friday after its second-quarter profit missed Street estimates, although rivals advanced on expectations that demand in their key banking segment was recovering.
The stock, which was choppy in early trade, was last down 2.4% at 4,125.15 rupees.
On Thursday, the country's No.1 IT firm posted a net profit of 119.09 billion rupees ($1.42 billion), missing analyst estimates, as revenue in its North American market, which accounts for nearly half of overall sales, fell for a fourth straight quarter.
TCS' revenue declined in North America due to a client in the lifesciences and healthcare vertical reducing the scope of a project, it said, without elaborating.
The results are not a broad-based gauge for demand as the weakness was client-specific, said Abhishek Kumar, analyst at JM Financial.
The market is optimistic about IT companies in light of further U.S. rate cuts, he said.
Indian IT firms get a large chunk of their revenue from the United States.
Still, the company's banking, financial services and insurance (BFSI) segment, its largest vertical, showed signs of recovery.
Its BFSI division grew in North America, but saw some softness in the UK and European markets.
"TCS' second-quarter results suggest that the road to recovery in developed markets is likely to be volatile. However, we keep the faith given TCS' continued hiring and improvement in outlook for BFSI," Jefferies said.
Rivals Infosys INFY.NS, Wipro WIPR.NS and HCLTech HCLT.NS, due to report results next week, rose 0.1%-1.5% on Friday. BFSI is a major revenue-generator for Indian IT firms.
"Revenue and margins challenges in Q2 were specific to TCS in our view, but the improving demand visibility and BFSI recovery are positive signs for the sector, PhillipCapital analysts said.
TCS' second-quarter operating margin inched down 0.2% year-on-year to 24.1%.
At least seven analysts slashed their price targets on TCS' stock after results, while nine bumped up their price targets, per LSEG data.
($1 = 83.9625 Indian rupees)
(Reporting by Varun Hebbalalu and Ashna Teresa Britto in Bengaluru; Editing by Varun H K and Sonia Cheema)
(([email protected];))
Rewrites paragraph 1 with rivals, adds details, background, analyst comments from paragraph 2
By VarunVyas Hebbalalu and Ashna Teresa Britto
Oct 11 (Reuters) - India's Tata Consultancy Services' TCS.NS shares slumped as much as 2.7% on Friday after its second-quarter profit missed Street estimates, although rivals advanced on expectations that demand in their key banking segment was recovering.
The stock, which was choppy in early trade, was last down 2.4% at 4,125.15 rupees.
On Thursday, the country's No.1 IT firm posted a net profit of 119.09 billion rupees ($1.42 billion), missing analyst estimates, as revenue in its North American market, which accounts for nearly half of overall sales, fell for a fourth straight quarter.
TCS' revenue declined in North America due to a client in the lifesciences and healthcare vertical reducing the scope of a project, it said, without elaborating.
The results are not a broad-based gauge for demand as the weakness was client-specific, said Abhishek Kumar, analyst at JM Financial.
The market is optimistic about IT companies in light of further U.S. rate cuts, he said.
Indian IT firms get a large chunk of their revenue from the United States.
Still, the company's banking, financial services and insurance (BFSI) segment, its largest vertical, showed signs of recovery.
Its BFSI division grew in North America, but saw some softness in the UK and European markets.
"TCS' second-quarter results suggest that the road to recovery in developed markets is likely to be volatile. However, we keep the faith given TCS' continued hiring and improvement in outlook for BFSI," Jefferies said.
Rivals Infosys INFY.NS, Wipro WIPR.NS and HCLTech HCLT.NS, due to report results next week, rose 0.1%-1.5% on Friday. BFSI is a major revenue-generator for Indian IT firms.
"Revenue and margins challenges in Q2 were specific to TCS in our view, but the improving demand visibility and BFSI recovery are positive signs for the sector, PhillipCapital analysts said.
TCS' second-quarter operating margin inched down 0.2% year-on-year to 24.1%.
At least seven analysts slashed their price targets on TCS' stock after results, while nine bumped up their price targets, per LSEG data.
($1 = 83.9625 Indian rupees)
(Reporting by Varun Hebbalalu and Ashna Teresa Britto in Bengaluru; Editing by Varun H K and Sonia Cheema)
(([email protected];))
Aug 27 (Reuters) - L&T Technology Services Ltd LTEH.NS:
SEES REVENUE OF $1.26 BILLION - $1.28 BILLION FOR FY25
Source text for Eikon: ID:nBSE6098VP
Further company coverage: LTEH.NS
(([email protected];))
Aug 27 (Reuters) - L&T Technology Services Ltd LTEH.NS:
SEES REVENUE OF $1.26 BILLION - $1.28 BILLION FOR FY25
Source text for Eikon: ID:nBSE6098VP
Further company coverage: LTEH.NS
(([email protected];))
Aug 21 (Reuters) - L&T Technology Services Ltd LTEH.NS:
L&T TECH - THALES AND L&T TECHNOLOGY SERVICES EXPAND COLLABORATION
L&T TECH - NEW CONTRACT FOR 20-YEAR RELATIONSHIP WITH LTTS
Source text for Eikon: ID:nBSE4f4mKr
Further company coverage: LTEH.NS
(([email protected];;))
Aug 21 (Reuters) - L&T Technology Services Ltd LTEH.NS:
L&T TECH - THALES AND L&T TECHNOLOGY SERVICES EXPAND COLLABORATION
L&T TECH - NEW CONTRACT FOR 20-YEAR RELATIONSHIP WITH LTTS
Source text for Eikon: ID:nBSE4f4mKr
Further company coverage: LTEH.NS
(([email protected];;))
Aug 13 (Reuters) - L&T Technology Services Ltd LTEH.NS:
L&T TECH - SHELL SIGNS NEW FRAMEWORK AGREEMENT WITH CO
L&T TECH - MULTI-YEAR AGREEMENT FOR INTEGRATED ENGINEERING, PROCUREMENT SERVICES
Further company coverage: LTEH.NS
(([email protected];))
Aug 13 (Reuters) - L&T Technology Services Ltd LTEH.NS:
L&T TECH - SHELL SIGNS NEW FRAMEWORK AGREEMENT WITH CO
L&T TECH - MULTI-YEAR AGREEMENT FOR INTEGRATED ENGINEERING, PROCUREMENT SERVICES
Further company coverage: LTEH.NS
(([email protected];))
July 30 (Reuters) - L&T Technology Services Ltd LTEH.NS:
L&T TECH- CO, AND PS TECHNOLOGY PARTNER TO TRANSFORM RAILWAYS
Further company coverage: LTEH.NS
(([email protected];))
July 30 (Reuters) - L&T Technology Services Ltd LTEH.NS:
L&T TECH- CO, AND PS TECHNOLOGY PARTNER TO TRANSFORM RAILWAYS
Further company coverage: LTEH.NS
(([email protected];))
July 23 (Reuters) - L&T Technology Services Ltd LTEH.NS:
L&T TECHNOLOGY SERVICES AND SYMPHONYAI PARTNER
PARTNER TO PROVIDE AI-BASED BUSINESS TRANSFORMATION TO GLOBAL CUSTOMERS
Source text for Eikon: ID:nBSE3w8zpg
Further company coverage: LTEH.NS
(([email protected];))
July 23 (Reuters) - L&T Technology Services Ltd LTEH.NS:
L&T TECHNOLOGY SERVICES AND SYMPHONYAI PARTNER
PARTNER TO PROVIDE AI-BASED BUSINESS TRANSFORMATION TO GLOBAL CUSTOMERS
Source text for Eikon: ID:nBSE3w8zpg
Further company coverage: LTEH.NS
(([email protected];))
July 18 (Reuters) - L&T Technology Services Ltd LTEH.NS:
L&T TECH- REAFFIRM ASPIRATIONS TO REACH $1.5 BILLION IN ANNUALIZED REVENUES
L&T TECH - REAFFIRM FY25 GUIDANCE OF 8-10% REVENUE GROWTH IN CONSTANT CURRENCY
Source text for Eikon: ID:nBSE8hnQpP
Further company coverage: LTEH.NS
(([email protected];))
July 18 (Reuters) - L&T Technology Services Ltd LTEH.NS:
L&T TECH- REAFFIRM ASPIRATIONS TO REACH $1.5 BILLION IN ANNUALIZED REVENUES
L&T TECH - REAFFIRM FY25 GUIDANCE OF 8-10% REVENUE GROWTH IN CONSTANT CURRENCY
Source text for Eikon: ID:nBSE8hnQpP
Further company coverage: LTEH.NS
(([email protected];))
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Popular questions
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What does L&T Technology Serv. do?
L&T Technology Services (LTTS) is a global leader in engineering and technology consulting services. The company designs, develops, and delivers transformative products and services for its diverse global clientele. From Mobility and Sustainability to Tech, LTTS partners with some of the world’s biggest brands across industries. The company is driving the next frontiers of innovation across the global mobility landscape. The company helps its clients accelerate the adoption of smart and sustainable processes and solutions that ensure regulatory compliance while generating unmatched value streams.
Who are the competitors of L&T Technology Serv.?
L&T Technology Serv. major competitors are Mphasis, Tata Elxsi, Redington, Zen Technologies, eClerx Services, KPIT Technologies, Zensar Technologies. Market Cap of L&T Technology Serv. is ₹34,914 Crs. While the median market cap of its peers are ₹16,457 Crs.
Is L&T Technology Serv. financially stable compared to its competitors?
L&T Technology Serv. seems to be less financially stable compared to its competitors. Altman Z score of L&T Technology Serv. is 8.61 and is ranked 4 out of its 8 competitors.
Does L&T Technology Serv. pay decent dividends?
The company seems to pay a good stable dividend. L&T Technology Serv. latest dividend payout ratio is 48.06% and 3yr average dividend payout ratio is 44.91%
How has L&T Technology Serv. allocated its funds?
Companies resources are majorly tied in miscellaneous assets
How strong is L&T Technology Serv. balance sheet?
Balance sheet of L&T Technology Serv. is strong. It shouldn't have solvency or liquidity issues.
Is the profitablity of L&T Technology Serv. improving?
Yes, profit is increasing. The profit of L&T Technology Serv. is ₹1,322 Crs for TTM, ₹1,279 Crs for Mar 2026 and ₹1,267 Crs for Mar 2025.
Is the debt of L&T Technology Serv. increasing or decreasing?
The net debt of L&T Technology Serv. is decreasing. Latest net debt of L&T Technology Serv. is -₹3,125.3 Crs as of Mar-26. This is less than Mar-25 when it was -₹2,890.8 Crs.
Is L&T Technology Serv. stock expensive?
L&T Technology Serv. is not expensive. Latest PE of L&T Technology Serv. is 28.22, while 3 year average PE is 38.64. Also latest EV/EBITDA of L&T Technology Serv. is 17.16 while 3yr average is 25.26.
Has the share price of L&T Technology Serv. grown faster than its competition?
L&T Technology Serv. has given lower returns compared to its competitors. L&T Technology Serv. has grown at ~11.28% over the last 7yrs while peers have grown at a median rate of 26.26%
Is the promoter bullish about L&T Technology Serv.?
Promoters seem not to be bullish about the company and have been selling shares in the open market. Latest quarter promoter holding in L&T Technology Serv. is 73.57% and last quarter promoter holding is 73.58%
Are mutual funds buying/selling L&T Technology Serv.?
The mutual fund holding of L&T Technology Serv. is increasing. The current mutual fund holding in L&T Technology Serv. is 4.32% while previous quarter holding is 4.28%.