āagman

Not investment advice. Data and computed figures, for information only.

L&T Technology Services Ltd

NSE: LTTS
₹3,714.60
+₹27.80 (+0.75%)
NSE · 16 Oct 2026, close
NSE
As of 31 Mar 2026
Market Cap
₹34,691 Cr
CMP
₹3,714.60
52-wk High / Low
₹4,726 / 3,010
P/E
25.8
P/B
5.4
Book Value
₹611.0
Div Yield
1.77%
ROCE
27.0%
ROE
21.5%
Face Value
₹2
D/E
0.09

Price−11.4% over 1Y

āagman read

Computed by āagman
Derived from 12 years and 13 quarters of filings. Not reported by the company.
As of 16 Oct 2026
How we compute these
Piotroski F-Score
5
/ 9
5 of 9 F-score tests passed
Graham Number
₹1,288
√(22.5 × EPS × book value per share)
ROIC
16.7%
vs 13.5% sector median
Cash flow to profit
1.14
CFO / PAT
Above 1.0 = operating cash flow exceeded reported profit
Margin change
+192
bps OPM YoY
Operating margin vs the same quarter last year
Sustainable growth
11.7%
ROE × earnings retention ratio
ROE stability
1.8
pp σ
Standard deviation of ROE across periods. Lower = more stable
Holder deltas
QoQ
pp
Prom −0.05FII +0.27DII −0.59
Latest quarter vs the previous one
Cash-accrual divergence
−1.7%
of assets
Low = accruals track cash flow
Strengths
+ROCE has stayed above the sector median for 5 consecutive years (weakest: 31% vs the 2022 sector median of 26%)
+Price trades above its 200-day moving average (1.1x)
Watch-outs
−Borrowings are up 194.9% since FY2016 (196 to 578)
−Promoter holding fell by 0.3pp over the last year

Peer comparison

Peers
NameP/EMar Cap ₹ CrROCE %ROE %

Quarterly results

Consolidated basis (as filed) · ₹ Cr · 13 quarters
As of 30 Jun 2026
Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales2,3012,3862,4222,5382,4622,5732,6532,6382,6382,9802,7872,8582,940
Expenses1,8491,9111,9342,0352,0062,1072,1582,2052,1972,4892,2892,3362,392
Operating Profit453476488503456466495433441491498521548
OPM %19.7%19.9%20.1%19.8%18.5%18.1%18.7%16.4%16.7%16.5%17.9%18.2%18.6%
Other Income4841625662653480836693134
Interest12131313131216161616151714
Depreciation57687275737873818193868687
Profit before tax431436466471433441440416427448406449481
Net Profit312316337341314320320310316329303333357
EPS (₹)29.4429.8431.7932.2429.6330.2030.4529.3829.7931.0128.5531.3333.62

Profit & Loss

As of 30 Jun 2026
Consolidated · ₹ Cr · 12 years + TTM
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales2,6193,0663,2483,7475,0785,6195,4506,5708,0149,6479,64210,99611,565
Expenses2,2202,5472,6633,1724,1644,5094,4425,1556,3037,7287,8529,0619,506
Operating Profit3995195865769151,1101,0071,4151,7111,9191,7901,9352,059
OPM %15.2%16.9%18.0%15.4%18.0%19.8%18.5%21.5%21.4%19.9%18.6%17.6%17.8%
Other Income258458193223209154152208207283200139
Interest322223646444451566462
Depreciation48596289104183218214232272303345352
Profit before tax3725425796781,0311,1008971,3091,6441,8041,7131,7261,784
Net Profit3114194255077688226669611,1741,3061,2641,2811,322
EPS (₹)10.3655.8841.7849.3973.6178.3363.1490.68110.77123.28119.64120.68124.51

Balance Sheet

As of 30 Jun 2026
Consolidated · ₹ Cr
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026Jun 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—

Cash Flows

As of 31 Mar 2026
Consolidated · ₹ Cr
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

Ratios

As of 31 Mar 2026
12 periods
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
ROCE %—43.041.038.045.043.027.031.033.032.027.027.0
ROE %———————————21.5
EPS (₹)10.3655.8841.7849.3973.6178.3363.1490.68110.77123.28119.64120.68
Book Value (₹)———————————611.0
Face Value (₹)———————————2
P/E———————————25.8
Div Yield %———————————1.77
NPM %11.813.312.912.914.514.111.914.314.313.312.711.4
OPM %15.017.018.015.018.020.018.022.021.020.019.018.0
D/E3.210.180.070.040.030.010.140.110.090.120.100.09
P/B———————————5.4

Growth

As of 11 Oct 2026
Compounded sales growth
10 years+14.0%
5 years+15.0%
3 years+11.0%
TTM+10.0%
Compounded profit growth
10 years+12.0%
5 years+16.0%
3 years+6.0%
TTM+10.0%
Stock price CAGR
10 years+14.0%
5 years−7.0%
3 years−12.0%
Last year−24.0%
Return on equity
10 years25.0%
5 years23.0%
3 years23.0%
Last year22.0%

Shareholding pattern

As of 31 Mar 2026
Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Promoters89.77%89.77%88.81%78.88%74.62%74.24%73.90%73.85%73.74%73.66%73.57%73.52%
FIIs3.54%3.54%2.95%5.09%8.37%9.06%7.14%6.69%5.52%5.18%3.86%4.13%
DIIs1.08%1.08%0.78%4.43%4.88%6.36%5.20%8.41%12.09%13.67%14.64%14.05%
Government————————————
Public5.61%5.61%7.47%11.60%12.13%10.34%13.76%11.06%8.65%7.47%7.93%8.29%
No. of shareholders1,02,6461,02,64678,34692,24395,5371,14,7272,22,1962,97,5692,43,3742,19,5732,44,8202,47,423
Change since Jun 2023 (pp)
Promoters −16.25FIIs +0.59DIIs +12.97Public +2.68

Documents

As of 11 Oct 2026
Announcements
Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018Corporate Action-Board to consider DividendClosure of Trading WindowBoard Meeting Intimation for Approval Of Unaudited Standalone And Consolidated Financial Results For The Quarter And Half Year Ending September 30, 2026 & Approval Of Interim Dividend, If Any.Announcement under Regulation 30 (LODR)-Press Release / Media Release
Annual reports
Annual Report 2026Annual Report 2025Annual Report 2024Annual Report 2023Annual Report 2022
Credit ratings
Rating updateRating updateRating updateRating updateRating update
Concalls
Jul 2026TranscriptJul 2026PPTJul 2026PPTJun 2026PPTApr 2026TranscriptApr 2026PPTApr 2026PPT

Corporate actions

As of 22 May 2026
22 May 2026DIVIDENDDividend - Rs 40 Per Share—
27 Oct 2025DIVIDENDInterim Dividend - Rs 18 Per Share—
6 Jun 2025DIVIDENDDividend - Rs 38 Per Share—
25 Oct 2024DIVIDENDInterim Dividend - Rs 17 Per Share—
14 Jun 2024DIVIDENDDividend - Rs 33 Per Share—
27 Oct 2023DIVIDENDInterim Dividend - Rs 17 Per Share—
7 Jul 2023DIVIDENDDividend - Rs 30 Per Share—
27 Oct 2022DIVIDENDInterim Dividend - Rs 15 Per Share—
7 Jul 2022DIVIDENDAnnual General Meeting/Dividend - Rs 15 Per Share—
25 Jan 2022DIVIDENDInterim Dividend - Rs 10 Per Share—
26 Oct 2021DIVIDEND Special Dividend - Rs 10 Per Share—
8 Jul 2021DIVIDEND Annual General Meeting/Dividend - Rs 14.50 Per Share—
26 Oct 2020DIVIDEND Interim Dividend - Rs 7.50 Per Share—
8 Jul 2020DIVIDEND Annual General Meeting/Dividend - Rs 13.50 Per Share—
30 Oct 2019DIVIDEND Interim Dividend - Rs 7.50 Per Sh—
11 Jul 2019DIVIDEND Annual General Meeting/Dividend - Rs 13.50 Per Share—
1 Nov 2018DIVIDEND Interim Dividend - Rs 7.50 Per Share—
13 Aug 2018DIVIDEND Annual General Meeting/Dividend Rs 12/- Per Share—
14 Nov 2017DIVIDEND Interim Dividend - Rs 4/- Per Share (Purpose Revised)—
14 Aug 2017DIVIDEND Dividend - Rs 4/- Per Share—
21 Nov 2016DIVIDEND Interim Dividend Rs 3/- Per Share (Purpose Revised)—
Fundamentals from a third-party compiler of exchange filings; prices from the exchanges. Not investment advice.© 2026 āagman