Founded in the year 2012, L&T Technology Services Ltd. is a Mid Cap company (with a market capitalization of Rs 44791.02 Crore) operating in the IT software sector.
The key products/revenue segments of L&T Technology Services Ltd. include service (engineering) for the year ended March 31, 2020.
For the quarter ended December 31, 2021, the company reported a consolidated total income of Rs 1724.50 Crore, an increase of 5.35% from the total income of Rs 1637.00 Crore last quarter and an increase of 18 .97% over last year in the same quarter. Total revenue of Rs 1449.50 Crore. The company reported net profit after tax of Rs 249.60 Crore in the last quarter.
While LTTS is well positioned to play the ERD theme and grow at high rates, the brokerage does not see the risk reward as favorable. It values the stock at 32x (previously 34x) FY24E EPS. It maintains the REDUCE rating with a revised target price of Rs 3,908 (previously: Rs 4,413).
The promoters held a 73.9 percent stake in the company as of March 31, 2022, while FIIs owned 7.14 percent and DIIs 5.2 percent.
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