LTTS

L&T Technology Services Limited

L&T's engineering R&D arm — digital engineering for industrial and automotive clients

Information Technology›Information Technology›IT - Services›IT Enabled Services

ltts.com(opens the company website in a new tab)
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Key metrics

Price as of 2026-10-16

Stock price
₹3714.60
Market cap
39,375 Cr
Stock P/E
29.8
P/B
6.08
Dividend yield
1.5%
ROE (FY26)
19.7%
ROCE (FY26)
27.9%
Operating margin (FY26)
14.5%
OCF / EBITDA (FY26)
75.2%
OCF / EBITDA (3Y)
77.1%

Full years shown; sign in free for the trailing twelve months. Learn about these metrics →

Price & valuation

Share price and valuation multiples (P/E, P/B and more) over time.

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Compare with peers

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What you need to know

LTTS (L&T Technology Services) sells engineering research and development and technology services to clients in three segments: Mobility, Sustainability and Tech.

Company snapshot

1stBy market cap

Ranked among 56 companies in IT Enabled Services.

Segment mix

Reportable segments as of 2024-12-31 (Consolidated). Revenue share = segment revenue ÷ total revenue.

Largest segment: 36.5% of revenue

SegmentRevenue shareRevenuePBTAssets
Mobility
32.3%
858 Cr165 Cr0 Cr
Sustainability
31.1%
826 Cr205 Cr0 Cr
Tech
36.5%
969 Cr142 Cr0 Cr

What we see

Positives
  • ✓Interest coverage of 24.8x — earnings comfortably cover interest obligations.
2 more signals from the filings.Sign in free to see them all

Statement tables · Consolidated

Switches quarterly, P&L, balance sheet, and cash flow. Key metrics and ratios stay on consolidated when available.

Amounts in ₹ Cr · tap + to expand rows

Quarterly results

Quarterly · ₹ Cr · tap + rows to expand

MetricSept 2023Dec 2023Mar 2024Jun 2024Sept 2024Dec 2024Mar 2025Jun 2025Sept 2025Dec 2025Mar 2026Jun 2026
Sales2,387 Cr2,422 Cr2,538 Cr2,462 Cr2,573 Cr2,653 Cr2,982 Cr2,866 Cr2,980 Cr2,924 Cr2,858 Cr2,940 Cr
Operating expenses (approx.)1,911 Cr1,934 Cr2,035 Cr2,006 Cr2,107 Cr2,158 Cr2,507 Cr2,404 Cr2,489 Cr2,410 Cr2,337 Cr2,392 Cr
EBITDA476 Cr488 Cr503 Cr456 Cr466 Cr495 Cr476 Cr462 Cr491 Cr514 Cr521 Cr548 Cr
OPM %19.9%20.1%19.8%18.5%18.1%18.6%15.9%16.1%16.5%17.6%18.2%18.6%
Other income41 Cr62 Cr56 Cr62 Cr65 Cr34 Cr49 Cr68 Cr66 Cr33 Cr55 Cr29 Cr
Interest13 Cr13 Cr13 Cr13 Cr12 Cr16 Cr16 Cr17 Cr16 Cr15 Cr17 Cr14 Cr
Depreciation68 Cr72 Cr75 Cr73 Cr78 Cr73 Cr82 Cr81 Cr93 Cr87 Cr87 Cr87 Cr
Profit before tax436 Cr466 Cr471 Cr433 Cr441 Cr440 Cr427 Cr433 Cr448 Cr410 Cr454 Cr483 Cr
Tax %27.6%27.6%27.5%27.5%27.4%27.4%27.4%26.9%26.5%26.1%26.6%26.0%
Net profit316 Cr337 Cr341 Cr314 Cr320 Cr320 Cr310 Cr316 Cr329 Cr303 Cr333 Cr357 Cr
EPS (₹)₹29.84₹31.80₹32.25₹29.65₹30.20₹30.47₹29.38₹29.81₹31.02₹28.56₹31.34₹33.62

Profit & loss (annual)

Annual · last column is TTM · ₹ Cr · tap + to expand

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales3,248 Cr3,747 Cr5,078 Cr5,619 Cr5,450 Cr6,570 Cr8,014 Cr9,647 Cr10,670 Cr10,996 CrSign in free for the trailing twelve months
Operating expenses (approx.)2,663 Cr3,172 Cr4,164 Cr4,509 Cr4,442 Cr5,155 Cr6,303 Cr7,728 Cr8,778 Cr9,061 CrSign in free for the trailing twelve months
EBITDA586 Cr576 Cr915 Cr1,111 Cr1,007 Cr1,415 Cr1,711 Cr1,919 Cr1,893 Cr1,935 CrSign in free for the trailing twelve months
OPM %18.0%15.4%18.0%19.8%18.5%21.5%21.3%19.9%17.7%17.6%Sign in free for the trailing twelve months
Other income58 Cr193 Cr223 Cr209 Cr154 Cr152 Cr208 Cr207 Cr210 Cr221 CrSign in free for the trailing twelve months
Interest2 Cr2 Cr2 Cr37 Cr46 Cr44 Cr44 Cr51 Cr57 Cr64 CrSign in free for the trailing twelve months
Depreciation63 Cr89 Cr104 Cr183 Cr218 Cr214 Cr232 Cr272 Cr305 Cr345 CrSign in free for the trailing twelve months
Profit before tax579 Cr678 Cr1,031 Cr1,100 Cr897 Cr1,309 Cr1,644 Cr1,804 Cr1,741 Cr1,744 CrSign in free for the trailing twelve months
Tax %26.6%25.3%25.5%25.3%25.7%26.6%28.6%27.6%27.4%26.5%Sign in free for the trailing twelve months
Net profit425 Cr507 Cr768 Cr822 Cr667 Cr961 Cr1,174 Cr1,306 Cr1,264 Cr1,281 CrSign in free for the trailing twelve months
EPS (₹)₹42.08₹49.60₹74.06₹78.56₹63.32₹90.92₹110.80₹123.34₹119.70₹120.71Sign in free for the trailing twelve months
Dividend payout %————33.0%37.8%27.0%38.0%41.9%46.3%Sign in free for the trailing twelve months
Sign in free for the trailing twelve months

The latest four quarters added up, next to each full year

Balance sheet

Annual · ₹ Cr · tap + rows to expand

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity capital20 Cr21 Cr21 Cr21 Cr21 Cr21 Cr21 Cr21 Cr21 Cr21 Cr
Reserves1,465 Cr1,916 Cr2,458 Cr2,748 Cr3,452 Cr4,141 Cr4,930 Cr5,306 Cr6,059 Cr6,452 Cr
Borrowings102 Cr70 Cr70 Cr30 Cr——————
Other liabilities646 Cr698 Cr811 Cr1,498 Cr1,590 Cr1,915 Cr1,948 Cr3,141 Cr3,546 Cr3,997 Cr
Total liabilities2,233 Cr2,705 Cr3,364 Cr4,303 Cr5,073 Cr6,091 Cr6,917 Cr8,489 Cr9,644 Cr10,489 Cr
Fixed assets (net)119 Cr125 Cr144 Cr210 Cr206 Cr640 Cr654 Cr988 Cr878 Cr859 Cr
CWIP2 Cr0.10 Cr0 Cr9 Cr12 Cr10 Cr7 Cr13 Cr28 Cr12 Cr
Investments195 Cr221 Cr575 Cr642 Cr1,515 Cr1,478 Cr2,284 Cr1,493 Cr1,310 Cr1,897 Cr
Loans & advances——0 Cr0.10 Cr0 Cr0 Cr0 Cr157 Cr179 Cr0 Cr
Inventories——0 Cr0 Cr0 Cr0 Cr0 Cr3 Cr4 Cr6 Cr
Trade receivables711 Cr962 Cr1,064 Cr1,381 Cr1,235 Cr1,696 Cr1,730 Cr2,180 Cr2,513 Cr2,015 Cr
Cash & bank67 Cr154 Cr205 Cr218 Cr175 Cr235 Cr535 Cr1,122 Cr1,383 Cr1,650 Cr
Other assets1,139 Cr1,243 Cr1,376 Cr1,844 Cr1,930 Cr2,033 Cr1,708 Cr2,532 Cr3,349 Cr4,052 Cr
Total assets2,233 Cr2,705 Cr3,364 Cr4,303 Cr5,073 Cr6,091 Cr6,917 Cr8,489 Cr9,644 Cr10,489 Cr

Cash flows

Annual · ₹ Cr · tap + rows to expand · last column includes FCF

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from operating activity388 Cr414 Cr806 Cr638 Cr1,327 Cr1,006 Cr1,305 Cr1,493 Cr1,481 Cr1,455 Cr
Cash from investing-178 Cr-200 Cr-509 Cr-222 Cr-1,005 Cr-448 Cr-572 Cr-233 Cr-509 Cr-443 Cr
Cash from financing-222 Cr-132 Cr-245 Cr-406 Cr-363 Cr-498 Cr-443 Cr-658 Cr-718 Cr-799 Cr
Net cash flow-12 Cr81 Cr52 Cr10 Cr-41 Cr60 Cr290 Cr602 Cr254 Cr267 Cr
Free cash flow (OCF − Capex)341 Cr327 Cr716 Cr485 Cr1,250 Cr844 Cr1,130 Cr1,240 Cr1,370 Cr1,270 Cr

Ratios

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
ROCE %36.6%33.9%40.5%40.5%27.1%32.4%34.0%34.7%29.5%27.9%
ROE %28.6%26.2%30.8%29.5%19.0%22.9%23.5%24.4%20.8%19.7%
Debtor days80937690829479828667
Inventory days——00000000
Days payable17181313161020535531
Cash conversion cycle63766377678458293136
OCF / EBITDA %66.2%71.9%88.1%57.5%131.8%71.1%76.3%77.8%78.3%75.2%
OCF / EBITDA % (3 years)——77.4%71.4%91.4%84.1%88.0%75.4%77.5%77.1%
Debt / equity0.070.040.030.010.000.000.000.000.00—
Current ratio1.932.442.752.803.193.143.402.462.162.48
Net debt / EBITDA0.06—-0.15-0.17-0.17-0.17-0.31-0.58-0.73-0.85