L&T Technology Services Share Price: L&T Technology Services Decrease, Target Price Rs 3908: ICICI Securities

ICICI Securities has called on L&T Technology Services Ltd. less a target price of Rs 3908. The current market price of L&T Technology Services is Rs 4212.75. The time period quoted by the analyst is one year when the price of L&T Technology Services Ltd. can achieve a specific goal.

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.

Financial

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.

Investment reason:
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).


Promoter/FII Holdings
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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