L&T Technology Services Ltd. (IN:LTTS)
:LTTS
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L&T Technology Services Ltd.
(LTTS)
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Rating:69Neutral
Price Target:
₹4,156.00
▼(-5.69% Downside)
Action:Reiterated
Date:04/24/26
The score is driven primarily by strong underlying financial quality (low leverage, solid profitability, and consistent free cash flow), tempered by the recent revenue decline and margin pressure. Technicals are mixed with a weak longer-term trend despite improving near-term signals, and valuation appears moderately expensive with only a modest dividend offset.
Positive Factors
Strong balance sheet & low leverage
Sustained low leverage and rising equity provide durable financial flexibility, enabling the company to fund multi-year R&D programs, absorb cyclical downturns, and pursue strategic investments without stressing capital structure. This underpinning supports long-term stability and optionality.
Negative Factors
Recent revenue decline
A year-over-year revenue decline signals a growth pause that can persist if new program wins or demand recovery lag. Prolonged top-line weakness pressures scalability economics and may force reliance on pricing or cost cuts to sustain margins over the medium term.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong balance sheet & low leverage
Sustained low leverage and rising equity provide durable financial flexibility, enabling the company to fund multi-year R&D programs, absorb cyclical downturns, and pursue strategic investments without stressing capital structure. This underpinning supports long-term stability and optionality.
Read all positive factors
L&T Technology Services Ltd. (LTTS) vs. iShares MSCI India ETF (INDA)
Market Cap
₹370.27B
Dividend Yield1.19%
Average Volume (3M)9.16K
Price to Earnings (P/E)28.9
Beta (1Y)1.00
Revenue Growth8.97%
EPS Growth0.85%
CountryIN
Employees21,271
SectorTechnology
Sector Strength88
IndustryInformation Technology Services
Share Statistics
EPS (TTM)120.67
Shares Outstanding106,068,596
10 Day Avg. Volume2,951
30 Day Avg. Volume9,157
Financial Highlights & Ratios
PEG Ratio30.65
Price to Book (P/B)5.11
Price to Sales (P/S)3.01
P/FCF Ratio24.13
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
₹3,600.00Price Target Upside-18.30% Downside
Rating ConsensusHold
Number of Analyst Covering1
EPS Forecast (FY)142.3
Revenue Forecast (FY)₹121.26B
L&T Technology Services Ltd. Business Overview & Revenue Model
Company Description
L&T Technology Services Limited provides engineering, research, and development (ER&D) services in North America, Europe, India, and internationally. Its Transportation segment offers engineering services and solutions to transportation industry t...
How the Company Makes Money
LTTS makes money primarily by delivering engineering and R&D services to enterprise clients under contracted engagements. Its revenue model is services-led and typically monetized through (a) time-and-materials billing for engineering teams and sp...
L&T Technology Services Ltd. Financial Statement Overview
Summary
Income Statement
74
Positive
Balance Sheet
86
Very Positive
Cash Flow
78
Positive
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 114.81B | 109.96B | 106.70B | 96.47B | 88.16B | 65.70B |
| Gross Profit | 41.95B | 15.90B | 48.39B | 45.85B | 41.19B | 27.95B |
| EBITDA | 21.39B | 19.35B | 21.02B | 21.26B | 19.64B | 15.67B |
| Net Income | 12.78B | 12.79B | 12.67B | 13.04B | 12.12B | 9.57B |
Balance Sheet | ||||||
| Total Assets | 97.32B | 104.89B | 96.44B | 84.89B | 81.98B | 60.91B |
| Cash, Cash Equivalents and Short-Term Investments | 23.36B | 30.79B | 25.25B | 26.84B | 27.98B | 20.66B |
| Total Debt | 6.30B | 5.79B | 5.78B | 6.59B | 4.54B | 4.77B |
| Total Liabilities | 35.24B | 39.97B | 35.46B | 31.41B | 37.45B | 19.15B |
| Stockholders Equity | 61.89B | 64.73B | 60.80B | 53.27B | 44.35B | 41.63B |
Cash Flow | ||||||
| Free Cash Flow | 4.14B | 13.71B | 13.70B | 12.40B | 11.30B | 8.44B |
| Operating Cash Flow | 4.81B | 15.56B | 14.81B | 14.93B | 13.05B | 10.06B |
| Investing Cash Flow | -2.03B | -5.58B | -5.09B | -2.33B | -5.72B | -4.48B |
| Financing Cash Flow | -5.02B | -7.85B | -7.18B | -6.58B | -4.43B | -4.98B |
L&T Technology Services Ltd. Technical Analysis
Negative
4406.60
Price Trends
3424.22
Positive
3589.28
Negative
3902.59
Negative
Market Momentum
7.99
Positive
48.52
Neutral
37.02
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:LTTS, the sentiment is Negative. The current price of 4406.6 is above the 20-day moving average (MA) of 3572.80, above the 50-day MA of 3424.22, and above the 200-day MA of 3902.59, indicating a neutral trend. The MACD of 7.99 indicates Positive momentum. The RSI at 48.52 is Neutral, neither overbought nor oversold. The STOCH value of 37.02 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:LTTS.
L&T Technology Services Ltd. Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
70 Outperform | ₹3.16T | 18.86 | ― | 2.86% | 11.18% | -4.28% | |
69 Neutral | ₹370.27B | 28.86 | ― | 1.19% | 8.97% | 0.85% | |
69 Neutral | ₹804.11B | 42.75 | ― | 0.55% | 23.53% | 31.95% | |
68 Neutral | ₹211.43B | 33.03 | ― | 0.69% | 10.49% | -24.27% | |
67 Neutral | ₹1.18T | 26.79 | ― | 1.08% | 11.31% | 9.00% | |
66 Neutral | ₹291.95B | 53.45 | ― | 1.26% | 6.52% | -19.28% | |
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% |
* Technology Sector Average
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L&T Technology Services Ltd. Corporate Events
L&T Technology Services Publishes FY 2025-26 Integrated Annual Report and AGM Notice
May 10, 2026
LT Technology Services Limited has announced that it has published a newspaper advertisement regarding its Integrated Annual Report for FY 2025-26, which includes the notice of the company’s fourteenth Annual General Meeting and related info...
L&T Technology Services Sets June 1 Virtual AGM, Releases FY26 Integrated Report
May 9, 2026
LT Technology Services Ltd., an engineering and technology services subsidiary of Larsen Toubro, has announced that its fourteenth annual general meeting will be held on June 1, 2026, via video conferencing and other audio-visual means. The compa...
L&T Technology Services Issues FY 2025-26 Integrated Annual Report and Schedules 14th AGM
May 9, 2026
LT Technology Services Limited has released its Integrated Annual Report for FY 2025-26 and issued the notice for its fourteenth Annual General Meeting, which will be held on June 1, 2026 at 3:30 p.m. IST via video conferencing and other audio-vis...
L&T Technology Services Publishes FY 2025-26 Integrated Annual Report and Sets June AGM
May 9, 2026
LT Technology Services Ltd. has released its Integrated Annual Report for FY 2025-26, which includes its Business Responsibility and Sustainability Report and the notice for the company’s fourteenth Annual General Meeting. The AGM will be he...
L&T Technology Services posts Q4 FY26 earnings call recording online
Apr 22, 2026
LT Technology Services Limited has notified the stock exchanges that it conducted its Q4 FY26 earnings conference call on April 22, 2026, at 8:00 p.m. IST. The company has made the audio recording of this earnings call available to investors and o...
L&T Technology Services Reports No Demat or Remat Requests for Q4 FY26
Apr 6, 2026
LT Technology Services Limited has informed the Indian stock exchanges that it received no requests for dematerialisation or rematerialisation of shares during the quarter ended March 31, 2026, as per Regulation 74(5) of the SEBI (Depositories and...
L&T Technology Services to Divest Smart World and Communication Unit in Slump Sale
Mar 25, 2026
LT Technology Services Ltd. has agreed to sell and transfer its Smart World and Communication business unit, which includes the safe and smart as well as communication segments, to AMI Paradigm Solutions Pvt. Ltd. on a slump sale basis. The unit b...
L&T Technology Services Divests Smart World Unit to Double Down on Engineering Intelligence
Mar 25, 2026
LT Technology Services has intensified its strategic focus on Engineering Intelligence as part of its five-year Lakshya Plan, aiming to accelerate growth in its core segments of mobility, tech and sustainability through six major technology bets. ...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.