Mumbai, October 19, 2021: L&T Technology 91原创 Limited (BSE: 540115, NSE: LTTS), India鈥檚 leading pure-play engineering services company, announced its results for the second quarter ended September 30, 2021.
Highlights for Q2FY22 include:
- Revenue at 鈧16,077 million; growth of 22% YoY
- USD Revenue at $217.4 million; growth of 22% YoY
- EBIT margin at 18.4%; up 470 bps YoY
- Net profit at 鈧2,300 million; growth of 39% YoY
- Special dividend of 鈧10 per share to mark the 5-year anniversary of LTTS' IPO; Record date October 27, 2021
During the quarter, LTTS won 5 deals with TCV of USD10 million plus, which includes 2 USD25 million plus deals.
鈥淲e had a strong quarter with 6% sequential growth in constant currency driven by healthy traction in digital engineering across all our five segments. The rising digital adoption across our customer base has led to our revenue from digital & leading-edge technologies increasing to 55% in Q2.
Medical, our youngest segment, crossed $100mn in annualized revenue and is a testament to our differentiated domain expertise and strategic relationships. We are seeing a healthy deal pipeline and good traction in our six big bets - Electric Autonomous & Connected Vehicle (EACV), 5G, Med-tech, AI & Digital Products, Digital Manufacturing and Sustainability.
Our broad-based growth was accompanied by a rise in Operating margin which at 18.4% is the highest we have reported. We will continue the journey of investing in innovation labs and capability building, that has yielded us gains in market share and operating model efficiency鈥, said Amit Chadha, CEO & Managing Director, L&T Technology 91原创 Limited.
Industry Recognitions:
- LTTS has been recognized as a 鈥楲eader鈥 in Everest Group鈥檚 Autonomous, Connected, Electric & Shared Mobility Automotive Engineering study
- NelsonHall positioned LTTS in the 鈥楲eaders鈥 Category in Digital Manufacturing 91原创 in its NEAT Leader 2021 study
- ISG Group rated LTTS as 鈥楲eader鈥 in IoT Consulting & 91原创 and IT/OT Tech Data Convergence
- LTTS鈥 Finance Team was honored for excellence in Consistent Liquidity Management by BW Businessworld CFO Finance Strategy Awards 2021
- Stevie鈥檚 International Business Award adjudged LTTS鈥 SafeX DevOps framework as the winner in the Achievement in Product Innovation category
- LTTS won the prestigious Association for Talent Development (ATD) Best Award 2021 and was ranked No. 1 for Talent Development practices
Patents
At the end of the second quarter, the patents portfolio of L&T Technology 91原创 stood at 769, out of which 556 are co-authored with its customers and the rest are filed by LTTS.
Human Resources
At the end of Q2FY22, LTTS鈥 employee strength stood at 17,983.
About L&T Technology 91原创 Ltd
L&T Technology 91原创 Limited (LTTS) is a listed subsidiary of Larsen & Toubro Limited focused on Engineering and R&D (ER&D) services. We offer consultancy, design, development and testing services across the product and process development life cycle. Our customer base includes 69 Fortune 500 companies and 57 of the world鈥檚 top ER&D companies, across industrial products, medical devices, transportation, telecom & hi-tech, and the process industries. Headquartered in India, we have over 17,900 employees spread across 17 global design centers, 28 global sales offices and 72 innovation labs as of September 30, 2021. For more information please visit /