MarketFriction

L&T Technology Services Ltd

NSE LTTS · BSE 540115 · IT Enabled Services
₹3,267.80 +1.21%
NSE close2026-10-01
52 week range3,010.00 - 4,726.00
Market cap₹32,692 Cr.
P/E24.3
IPO 2016 · +280% since Results 19-10 Nifty 500Midcap 150 Price band 20% Delivery 44.9%

Price

Drag to pan, scroll or pinch to zoom. Ruler (or Shift + drag) measures a move.Dashed lines: 52 week high and low. Prices adjusted for splits and bonuses.

Financials

Consolidated, Rs crore
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales2,3862,4222,5382,4622,5732,6532,6382,6382,9802,7872,8582,940
Expenses1,9111,9342,0352,0062,1072,1582,2052,1972,4892,2892,3362,392
Operating Profit476488503456466495433441491498521548
OPM %20%20%20%19%18%19%16%17%16%18%18%19%
Other Income41625662653480836693134
Interest131313131216161616151714
Depreciation687275737873818193868687
Profit before tax436466471433441440416427448406449481
Tax %28%28%28%27%27%27%25%26%27%25%26%26%
Net Profit316337341314320320310316329303333357
EPS in Rs29.8431.7932.2429.6330.2030.4529.3829.7931.0128.5531.3333.62
Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales3,0663,2483,7475,0785,6195,4506,5708,0149,6479,64210,99611,565
Expenses2,5472,6633,1724,1644,5094,4425,1556,3037,7287,8529,0619,506
Operating Profit5195865769151,1101,0071,4151,7111,9191,7901,9352,059
OPM %17%18%15%18%20%18%22%21%20%19%18%18%
Other Income8458193223209154152208207283200139
Interest22223646444451566462
Depreciation596289104183218214232272303345352
Profit before tax5425796781,0311,1008971,3091,6441,8041,7131,7261,784
Tax %23%27%25%26%25%26%27%29%28%26%26%
Net Profit4194255077688226669611,1741,3061,2641,2811,322
EPS in Rs55.8841.7849.3973.6178.3363.1490.68110.77123.28119.64120.68124.51
Dividend Payout %26%29%32%29%27%35%39%41%41%46%48%
10 Years5 Years3 YearsTTM1 YearLast Year
Compounded Sales Growth14%15%11%10%
Compounded Profit Growth12%16%6%10%
Stock Price CAGR14%-8%-12%-25%
Return on Equity25%23%23%22%
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital30030020202121212121212121
Reserves27661,4651,9162,4582,7483,4524,1414,9305,3066,0596,452
Borrowings969196102707030480477454659578578
Other Liabilities5076816446968021,5041,1131,4381,4982,4972,9703,438
Total Liabilities1,7781,9422,2322,7023,3524,3035,0666,0776,9048,4839,62710,489
Fixed Assets5696216147097801,1741,2821,2831,2941,6132,2452,250
CWIP014200912106132812
Investments0561952215756421,5151,4782,2841,4931,3101,896
Other Assets1,2081,2521,4211,7721,9972,4792,2573,3073,3195,3656,0456,330
Total Assets1,7781,9422,2322,7023,3524,3035,0666,0776,9048,4839,62710,489
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity2895443884098066381,3321,0061,3051,4931,4811,455
Cash from Investing Activity-667-176-178-196-509-222-1,005-448-572-233-509-443
Cash from Financing Activity464-383-222-132-245-406-363-498-444-658-718-800
Net Cash Flow86-15-12815210-3660290602254213
Free Cash Flow2364183433247184871,2578511,1321,2511,3791,280
CFO/OP89%137%93%101%119%77%157%96%104%105%110%96%
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days968680947690839479829567
Inventory Days
Days Payable
Cash Conversion Cycle968680947690839479829567
Working Capital Days671848705266444938383635
ROCE %43%41%38%45%43%27%31%33%32%27%27%
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Promoters73.77%73.75%73.74%73.69%73.69%73.66%73.66%73.59%73.58%73.58%73.57%73.52%
FIIs5.89%5.63%5.52%4.46%4.35%4.19%5.18%4.84%4.67%4.22%3.86%4.13%
DIIs10.77%11.33%12.09%13.07%13.72%14.30%13.67%13.86%14.13%14.57%14.64%14.05%
Public9.55%9.29%8.65%8.77%8.24%7.85%7.47%7.69%7.63%7.62%7.93%8.29%
No. of Shareholders2,66,5712,57,3962,43,3742,54,7322,36,0002,31,0672,19,5732,23,3182,21,8112,31,4062,44,8202,47,423

Fundamentals

Market Cap₹ 32,692 Cr.
Current Price₹ 3,082
Stock P/E24.3
Book Value₹ 611
ROCE26.7 %
ROE21.5 %
Dividend Yield1.88 %
Face Value₹ 2.00
Compounded Sales Growth (TTM)10%
Compounded Profit Growth (TTM)10%
Consolidated figures.
Valuation
Market capRs 34,599 Cr
Enterprise valueRs 33,527 Cr
P/E (TTM)26.21x
Price to book5.35x
Price to sales2.99x
EV / EBITDA15.25x
EV / EBIT18.16x
EV / sales2.90x
Price to cash flow23.78x
Earnings yield3.82%
Dividend yield1.78%
P/E, 3-year average35.98x
P/B, 3-year average7.94x
P/E, 5-year average38.94x
P/B, 5-year average8.79x
Profitability
Operating margin (excl. other income)17.60%
Operating margin (incl. other income)19.42%
EBITDA margin19.01%
Pre-tax margin15.43%
Net profit margin11.41%
Net margin, latest quarter12.13%
ROE20.38%
ROCE26.11%
ROA12.72%
ROE, 3-year average22.65%
ROCE, 3-year average28.89%
ROA, 3-year average14.55%
ROE, 5-year average23.74%
ROCE, 5-year average30.35%
ROA, 5-year average15.77%
ROIC (approx.)25.38%
Tax rate25.76%
Other income / net worth3.09%
Growth
Sales growth (latest year)14.04%
Profit growth (latest year)0.99%
Sales CAGR, 3 years11.12%
Sales CAGR, 5 years15.07%
Profit CAGR, 3 years3.02%
Profit CAGR, 5 years14.04%
Sales growth QoQ2.88%
Profit growth QoQ7.38%
Sales growth YoY (latest quarter)11.47%
Profit growth YoY (latest quarter)12.96%
Per share
EPS (TTM)Rs 124.67
EPS (latest year)Rs 120.82
EPS (latest quarter)Rs 33.68
EPS, 3-year averageRs 121.24
EPS, 5-year averageRs 113.05
Book value per shareRs 611.33
Sales per shareRs 1,092.25
Cash flow per shareRs 137.43
Free cash flow per shareRs 120.89
Dividend per share (latest year)Rs 58.07
Dividend per share, 3-year averageRs 54.41
Dividend per share, 5-year averageRs 48.64
Dividends
Dividend payout48.06%
Dividend payout, 3-year average44.91%
Dividend payout, 5-year average42.78%
Efficiency
Asset turnover1.05x
Fixed asset turnover4.89x
Inventory turnover310.45x
Inventory days1 days
Debtor days67 days
Debtors turnover5.46x
Cash conversion cycle67 days
Working capital days35 days
Leverage
Total debtRs 578 Cr
Cash and bankRs 1,650 Cr
Net debtRs -1,072 Cr
Debt to equity0.09x
Net debt / EBITDA-0.49x
Interest coverage29.73x
Current ratio (filing 2026-03-31)2.48x
Quick ratio (filing 2026-03-31)2.48x
Trade payables (filing 2026-03-31)Rs 937 Cr
Owners' fund to total sources61.71%
Debt to assets5.52%
Cash flow
Cash from Operating Activity (latest year)Rs 1,455 Cr
Cash from Investing Activity (latest year)Rs -443 Cr
Cash from Financing Activity (latest year)Rs -800 Cr
Net Cash Flow (latest year)Rs 213 Cr
Free cash flow (latest year)Rs 1,280 Cr
FCFE (approx.: FCF + change in debt)Rs 1,281 Cr
Cash from ops / profit, 5 years1.13x
Sales to cash flow7.56x
Statement figures
Net sales (TTM)Rs 11,565 Cr
Net sales (latest year)Rs 10,996 Cr
Sales (latest quarter)Rs 2,940 Cr
Operating profit excl. other income (latest year)Rs 1,935 Cr
Operating profit (latest quarter)Rs 548 Cr
Other income (TTM)Rs 139 Cr
EBITDA (TTM)Rs 2,198 Cr
PBDT (TTM)Rs 2,136 Cr
Profit before tax (TTM)Rs 1,784 Cr
Tax (latest year)Rs 444 Cr
Net profit (TTM)Rs 1,320 Cr
Net profit (latest year)Rs 1,279 Cr
Net profit (latest quarter)Rs 357 Cr
Depreciation (TTM)Rs 352 Cr
Depreciation (latest quarter)Rs 87 Cr
Interest (TTM)Rs 62 Cr
Cost of goods sold (latest year)Rs 1,801 Cr
Total expenditure (latest year)Rs 9,061 Cr
Total income (latest year)Rs 11,196 Cr
Share capitalRs 21 Cr
ReservesRs 6,452 Cr
Shareholders' fundsRs 6,473 Cr
Total assetsRs 10,489 Cr
Net blockRs 2,250 Cr
Capital work in progressRs 12 Cr
InvestmentsRs 1,896 Cr
ReceivablesRs 2,015 Cr
InventoryRs 6 Cr
Other liabilitiesRs 3,438 Cr
Shares outstanding (crore)10.59
Ownership
Promoter holding73.52% (-0.07 in a year)
Computed by MarketFriction from the consolidated statements. Returns use average balances.
P/E 26.2 is at the 25th percentile of its own 9.4-year range (median 35.3, low 16.1, high 89.4).
P/B 5.35 is at the 6th percentile (median 8.81).
Monthly. Market cap from split-adjusted price; profit and book value as reported by that month. A low percentile means cheap versus its own history, not cheap versus peers.
PeriodLTTSNifty 50Difference
1 week+1.8%-2.8% +4.6 pts
1 month-8.9%-6.8% -2.1 pts
3 months+1.9%-7.6% +9.5 pts
6 months+4.7%+0.4% +4.3 pts
1 year-20.7%-9.9% -10.8 pts
2 years-40.5%-13.6% -26.9 pts
3 years-28.6%+14.2% -42.8 pts
5 years-29.6%+27.9% -57.5 pts
82 mutual fund schemes hold about ₹1,552 Cr. Over three months 57 bought more and 14 sold (share counts, price move removed).
FundWeightEst. Cr3m shares
Sundaram Mid Cap Fund1.31%195 +57%
Sundaram Mid Cap Fund1.31%190 +57%
SBI Midcap Fund0.74%180 -39%
SBI Midcap Fund0.74%179 -39%
ICICI Pru Technology Fund1.10%150 +4%
SBI Dividend Yield Fund1.35%115 +12%
HDFC Multi Cap Fund0.44%92 +10%
Canara Rob Mid Cap Fund1.72%90 +4%
SBI Technology Opp Fund1.61%72 +1%
SBI ESG Exclusionary Strategy Fund1.11%60 +13%
Tata Digital India Fund0.53%54 +44%
Canara Rob Large and Mid Cap Fund0.20%52 +140%
HDFC Large & Mid Cap Fund0.10%30 +9%
Aditya Birla SL Conglomerate Fund0.72%12 +14%
UTI Innovation Fund1.24%10 +3%
Motilal Oswal Nifty Midcap 150 Index Fund0.23%10 +8%
Nippon India Nifty Midcap 150 Index Fund0.23%7 +7%
Invesco India Technology Fund1.74%6 -0%
DSP Nifty Midcap 150 Quality 50 Index Fund1.25%5 +9%
Taurus Ethical Fund0.99%4 +4%
Nippon India Aggressive Hybrid Fund(M0.09%4 +11%
Aditya Birla SL Retirement Fund-300.71%3 +7%
UTI Nifty Midcap 150 Quality 50 Index Fund1.25%3 +9%
ICICI Pru Nifty Midcap 150 Index Fund0.23%3 +8%
SBI Nifty Midcap 150 Index Fund0.23%3 +8%

Red flags

F-score 6 of 8
lookAuditor change Auditor change 2026-04-22: L&T Technology Services Limited has informed the Exchange regarding Change in Auditors of the company.
Checks on the latest reported years: cash vs profit, accruals, receivables and inventory vs sales, dilution, debt, interest cover, equity, other income, losses, and auditor, top-management, insolvency and regulator filings in the last 12 months. A flag asks for an explanation; it is not a verdict.

Insider trades

NSE insider and takeover-code disclosures
DateWhoRoleSideSharesValueHow
2024-12-18BHANU P GOPALAMEmployees/Designated Employesell451Rs 0.23 CrMarket Sale
2024-11-28VENKATESAN NARASIMHANEmployees/Designated Employesell295Rs 0.16 CrMarket Sale
2024-11-27HRISHIKESH RAOEmployees/Designated Employesell4,000Rs 2.17 CrMarket Sale
2024-11-25MURALIDHARA H LEmployees/Designated Employesell300Rs 0.16 CrMarket Sale
2024-11-22MURALIDHARA H LEmployees/Designated Employesell300Rs 0.16 CrMarket Sale
2024-11-18SEEMA U GHANEKAREmployees/Designated Employesell300Rs 0.15 CrMarket Sale
2024-11-16HRISHIKESH RAOEmployees/Designated Employeother1,100Rs 0.00 CrESOP
2024-11-12SONAL VAIDYAEmployees/Designated Employesell201Rs 0.11 CrMarket Sale
2024-11-12PRADEEP RAJA SAVARI AMIRTHARAJEmployees/Designated Employesell500Rs 0.27 CrMarket Sale
2024-11-06SEEMA GHANEKAREmployees/Designated Employesell700Rs 0.35 CrMarket Sale
2024-10-22SEEMA GHANEKAREmployees/Designated Employesell500Rs 0.26 CrMarket Sale
2024-09-30BHANU GOPALAMEmployees/Designated Employesell550Rs 0.30 CrMarket Sale
Latest disclosed trades by insiders, promoters and large holders. Grants, option exercises and pledges show as "other". A filing is a fact, not a signal on its own.

Latest quarter

Jun 2026
Sales ₹2,940 Cr +11.4% vs Jun 2025. Net profit ₹357 Cr +13.0%.

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No bulk or block deals on record.
Ex-dateActionFactor
2026-05-22Dividend - Rs 40 Per Share
2025-10-27Interim Dividend - Rs 18 Per Share
2025-06-06Dividend - Rs 38 Per Share
2024-10-25Interim Dividend - Rs 17 Per Share
2024-06-14Dividend - Rs 33 Per Share
2023-10-27Interim Dividend - Rs 17 Per Share
2023-07-07Dividend - Rs 30 Per Share
2022-10-27Interim Dividend - Rs 15 Per Share
2022-07-07Annual General Meeting/Dividend - Rs 15 Per Share
2022-01-25Interim Dividend - Rs 10 Per Share
2021-10-26 Special Dividend - Rs 10 Per Share
2021-07-08 Annual General Meeting/Dividend - Rs 14.50 Per Share
2020-10-26 Interim Dividend - Rs 7.50 Per Share
2020-07-08 Annual General Meeting/Dividend - Rs 13.50 Per Share
2019-10-30 Interim Dividend - Rs 7.50 Per Sh
2019-07-11 Annual General Meeting/Dividend - Rs 13.50 Per Share
2018-11-01 Interim Dividend - Rs 7.50 Per Share
2018-08-13 Annual General Meeting/Dividend Rs 12/- Per Share
2017-11-14 Interim Dividend - Rs 4/- Per Share (Purpose Revised)
2017-08-14 Dividend - Rs 4/- Per Share
2016-11-21 Interim Dividend Rs 3/- Per Share (Purpose Revised)
DateTypeWhat it says
2026-09-24UpdatesBoard of Directors to consider Interim Dividend for Half year ending September 30, 2026.
2026-09-24Press ReleaseA press release dated September 24, 2026, titled "L&T Technology Services Partners with Cognite to Advance Engineering Intelligence with Industrial AI...
2026-09-15Concall / analyst meetSchedule of meet.
2026-09-10ESOPAllotment of 8,725 Shares.
2026-09-04General UpdatesReceipt of No-objection letters from the Stock Exchanges for Reclassification of Nabha Power Limited from the Promoter Group to Public Category
2026-09-04Shareholder meetingVoting results for Postal Ballot notice dated August 3, 2026.
2026-09-04Concall / analyst meetSchedule of meet
2026-09-01General UpdatesCompletion of sale of the Smart World and Communication Business Unit of the Company to AMI Paradigm Solutions Private Limited, pursuant to the Busine...
2026-08-26Concall / analyst meetSchedule of Analyst/Institutional Investor Meeting.
2026-08-19Order winL&T Technology Services has secured a landmark engagement valued at over $75 Million from a leading global technology enterprise.
2026-08-17Concall / analyst meetPresentation
2026-08-12Concall / analyst meetSchedule of meet
2026-08-11Credit RatingCredit Rating
2026-08-11Press ReleaseA press release dated August 11, 2026, titled "L&T Technology Services Launches AgenticIQ, an End-to-End Agentic AI Platform for Engineering, Manufact...
2026-08-07Concall / analyst meetSchedule of meet
2026-08-04Shareholder meetingNotice of Postal Ballot
2026-07-20Credit RatingCredit Rating
2026-07-20Concall / analyst meetTranscript of Q1 FY27 Earnings Call held on July 14, 2026.
2026-07-17UpdatesSubmission of Application to Stock Exchanges under Regulation 31A of SEBI (LODR).
2026-07-14Concall / analyst meetLink of Recording
2026-07-14UpdatesPursuant to Regulation 31A(8)(b) of SEBI (LODR), Board has approved the request of Nabha Power Limited ( NPL ) received vide letter dated June 26, 202...
2026-07-14Director changeChange in Director(s) of the company.
2026-07-14Press ReleaseA press release dated July 14, 2026, titled "L&T Technology Services Partners with Anthropic to Deliver AI-Powered Engineering Intelligence for Produc...
2026-07-14Investor PresentationInvestor Presentation
2026-07-14Press ReleaseA press release dated July 14, 2026, titled "Unaudited (Consolidated and Standalone) Financial Results of the Company for the quarter ended June 30, 2...
Company filings to NSE, newest first. Routine notices (trading window, newspaper copies) are left out. Click a row for the filing.
No short selling reported to NSE in our files.
Short sales disclosed by brokers to NSE, by trade date. Collected since late September 2026.
Not on any NSE surveillance list in the latest file.
Data: NSE and BSE daily reports, company filings. Numbers only, not investment advice, not a SEBI-registered research service.Updated 2026-10-03