Strong Demand for Digital Engineering Helps L&T Technology Services (LTTS) Post Industry Leading Performance
L&T Technology Services Limited, India’s leading pure-play ER&D services company, announced its results for the fourth quarter and full year ended March 31, 2018.
Highlights for FY18 include:
USD Revenue at $580 million for the year; growth of 20% YoY
Revenue at ₹37,471 million for the quarter; growth of 15% YoY
Net profit at ₹5,060 million; growth of 19% YoY
Board has recommended a final dividend of INR 12 per share. Including the interim dividend of INR 4 per share, the total dividend for FY18 will amount to INR 16 per share.
Highlights for fourth quarter include:
USD Revenue at $162 million for the quarter; growth of 8% QoQ; 34% YoY
Revenue at ₹10,548 million for the quarter; growth of 9% QoQ; 30% YoY
Net profit at ₹1,588 million; growth of 26% QoQ; 66% YoY
During the fourth quarter, growth was broad-based with healthy traction across all segments on sequential basis. LTTS won five multi-million dollar deals across Process Industry, Telecom & Hi-tech and Transportation. On YoY basis, LTTS has increased its USD40mn+ annual billing clients by two, and its USD10mn+ clients by three.
“Our engineering DNA combined with strong demand for digital and new age technologies has helped us grow ahead of the industry with a 20% revenue growth in FY18. The focus on Top 30 customers, large deal wins and technology innovation has enabled us to become India’s fastest growing and leading pure-play engineering services company.
We see large customers across the globe accelerating their investments in digital engineering and partnering with us to build smart products, create factories of the future embedded with new age technologies and increase returns from their legacy products.
Our revenues from digital & leading-edge technologies increased to 26% of the overall business in FY18, driven by investment into newer areas such as NB-IoT, Machine Learning and Embedded AI and creation of new labs to spur research and innovation.
We feel confident about growth momentum continuing in FY19 as we see broad-based demand and a strong positioning in all our five industry segments. To drive sustainable revenue and profit growth, we will continue to fill white spaces in both technology and domain through acquisitions and at the same time improve operational parameters for better margins,” said Dr. Keshab Panda, CEO & Managing Director, L&T Technology Services Limited.
Awards and Recognitions:
Golden Peacock Innovation Award 2018 – LTTS was awarded the Golden Peacock Innovative Product & Service Award for its smart buildings product i-BEMS™ (Intelligent Building Energy Management System), making it the company’s second consecutive win.
HfS Positions L&T Technology Services in ‘Winner’s Circle’ for IoT services – LTTS was positioned in the ‘Winner’s Circle for Excellence in Innovation and Execution’ by HfS Research, in its ‘Blueprint Report for IoT Services, 2018’. HfS recognized LTTS for its strong manufacturing & engineering practice along with over 300 IoT engagements in Hi-tech, Telecom, Industrial and Energy & Utilities domains.
At the end of the fourth quarter, the patents portfolio of L&T Technology Services stood at 328 patents out of which 245 are co-authored with its customers and 83 are filed by LTTS.
At the end of the fourth quarter LTTS’ employee strength stood at 12,307, a net addition of 366 during the quarter.