On consolidated basis
Quarter ended September
2022 compared with Quarter ended June 2022.
Net sales (including other operating income) of Larsen & Toubro Infotech
has increased 6.94% to Rs 4836.7 crore.
Operating profit margin
has jumped from 18.37% to 18.85%, leading to 9.74% rise in operating profit to
Rs 911.70 crore. Employee cost increased from 63.51% to 63.78%.
Other expenses fell from 18.12% to 17.37%. Other direct
service cost fell from 16.96% to 16.16%.
Other income fell 3.33%
to Rs 139.3 crore. PBIDT rose 7.81% to Rs 1051
crore. Provision for interest rose 8.62% to Rs 18.9
crore. Loan funds remained nil.
PBDT rose 7.79% to Rs
1032.1 crore. Provision for depreciation rose 22.82% to Rs 130.8
crore.
Profit before tax grew
5.91% to Rs 901.30 crore. Share of profit/loss were nil in both the
periods. Provision for tax was expense of Rs 221.5 crore, compared
to Rs 216.6 crore. Effective tax rate was 24.58% compared to 25.45%.
Minority interest
decreased 44.44% to Rs 0.50 crore. Net profit attributable to owners
of the company increased 7.23% to Rs 679.30 crore.
Promoters’ stake was
74.03% as of 30 September 2022 ,compared to 74.03% as of 30 June 2022
.
Quarter ended
September 2022 compared with Quarter ended September 2021.
Net sales (including other
operating income) of Larsen & Toubro Infotech has increased 28.40% to Rs
4836.7 crore.
Sales of Banking Financial Services segment has gone up 31.59% to Rs 2,313.70
crore (accounting for 47.84% of total sales). Sales of Manufacturing
segment has gone up 17.61% to Rs 690.00 crore (accounting for 14.27% of total
sales). Sales of Energy & Utilities segment rose 38.48% to Rs 465.70
crore (accounting for 9.63% of total sales). Sales of High Tech
Media & Entertainment segment has gone up 9.92% to Rs 517.30 crore
(accounting for 10.70% of total sales). Sales of CPG Retail Pharma
segment has gone up 38.17% to Rs 7850.0 crore (accounting for 17.57% of total
sales).
Profit before interest, tax and
other unallocable items (PBIT) has jumped 24.59% to Rs 932.8
crore. PBIT of Banking Financial Services segment rose 20.98% to Rs 437.7
crore (accounting for 46.92% of total PBIT). PBIT of Manufacturing
segment declined 0.36% to Rs 138.9 crore (accounting for 14.89% of total
PBIT). PBIT of Energy & Utilities segment rose 80.53% to Rs 102.9
crore (accounting for 11.03% of total PBIT). PBIT of High Tech Media
& Entertainment segment fell 0.54% to Rs 73.60 crore (accounting for 7.89%
of total PBIT). PBIT of CPG Retail Pharma segment rose 54.25% to Rs 179.70
crore (accounting for 19.26% of total PBIT).
PBIT margin of Banking Financial
Services segment fell from 20.58% to 18.92%. PBIT margin of
Manufacturing segment fell from 23.76% to 20.13%. PBIT margin of
Energy & Utilities segment rose from 16.95% to 22.10%. PBIT
margin of High Tech Media & Entertainment segment fell from 15.72% to 14.23%. PBIT
margin of CPG Retail Pharma segment rose from 18.94% to 21.14%. Overall
PBIT margin fell from 19.88% to 19.29%.
Operating profit
margin has jumped from 18.37% to 18.85%, leading to 9.74% rise in operating profit
to Rs 911.70 crore. Employee cost increased from 63.51% to 63.78%.
Other expenses fell from 18.12% to 17.37%. Other direct
service cost fell from 16.96% to 16.16%.
Other income fell 3.33%
to Rs 139.3 crore. PBIDT rose 7.81% to Rs 1051 crore. Provision
for interest rose 8.62% to Rs 18.9 crore. Loan funds remained
nil.
PBDT rose 7.79% to Rs
1032.1 crore. Provision for depreciation rose 22.82% to Rs 130.8
crore.
Profit before tax grew
5.91% to Rs 901.30 crore. Share of profit/loss were nil in both the
periods. Provision for tax was expense of Rs 221.5 crore, compared
to Rs 216.6 crore. Effective tax rate was 24.58% compared to 25.45%.
Minority interest
decreased 44.44% to Rs 0.50 crore. Net profit attributable to owners
of the company increased 7.23% to Rs 679.30 crore.
Promoters’ stake was
74.03% as of 30 September 2022 ,compared to 74.03% as of 30 June 2022
.
For
year-to-date (YTD) results analysis
Net sales
(including other operating income) of Larsen & Toubro Infotech has increased
29.46% to Rs 9359.5 crore.
Sales of Banking Financial Services
segment has gone up 32.89% to Rs 4475.80 crore (accounting for 47.82% of total
sales). Sales of Manufacturing segment has gone up 21.19% to Rs1341.10
crore (accounting for 14.33% of total sales). Sales of Energy &
Utilities segment rose 32.66% to Rs 864.00 crore (accounting for 9.23% of total
sales). Sales of High Tech Media & Entertainment segment has
gone up 14.47% to Rs 1042.10 crore (accounting for 11.13% of total
sales). Sales of CPG Retail Pharma segment has gone up 37.41% to Rs 1636.50
crore (accounting for 17.48% of total sales).
Profit before interest, tax and
other unallocable items (PBIT) has jumped 26.32% to Rs 1771.60
crore. PBIT of Banking Financial Services segment rose 23.75% to Rs 841.60
crore (accounting for 47.51% of total PBIT). PBIT of Manufacturing
segment rose 19.16% to Rs 284.80 crore (accounting for 16.08% of total
PBIT). PBIT of Energy & Utilities segment rose 25.51% to Rs 161.40
crore (accounting for 9.11% of total PBIT). PBIT of High Tech Media
& Entertainment segment rose 18.14% to Rs 161.50 crore (accounting for 9.12%
of total PBIT). PBIT of CPG Retail Pharma segment rose 47.78% to Rs 322.30
crore (accounting for 18.19% of total PBIT).
PBIT margin of Banking Financial
Services segment fell from 20.18% to 18.80%. PBIT margin of
Manufacturing segment fell from 21.60% to 21.24%. PBIT margin of
Energy & Utilities segment fell from 19.75% to 18.68%. PBIT
margin of High Tech Media & Entertainment segment rose from 15.02% to 15.50%. PBIT margin
of CPG Retail Pharma segment rose from 18.31% to 19.69%. Overall
PBIT margin fell from 19.40% to 18.93%.
Operating profit
margin has declined from 19.10% to 18.62%, leading to 26.19% rise in operating
profit to Rs 1,742.50 crore. Employee cost increased from 63.32% to
63.65%. Other expenses rose from 17.58% to 17.73%. Other
direct service cost rose from 15.80% to 16.55%.
Other income rose 21.74%
to Rs 283.4 crore. PBIDT rose 25.54% to Rs 2025.9
crore. Provision for interest rose 3.42% to Rs 36.3
crore. Loan funds rose to Rs 823.90 crore as of 30 September 2022
from Rs 755.90 crore as of 30 September 2021. Sundry debtors were
higher at Rs 3,078.90 crore as of 30 September 2022 compared to Rs 2,326.30
crore as of 30 September 2021. Cash and bank balance rose to Rs
944.70 crore as of 30 September 2022 from Rs 688.70 crore as of 30 September
2021. Investments declined from Rs 3,416.40 crore as of 30 September
2021 to Rs 2,921.30 crore as of 30 September 2022.
PBDT rose 26.04% to Rs
1989.6 crore. Provision for depreciation rose 44.26% to Rs 237.3
crore. Fixed assets increased to Rs 2,047.10 crore as of 30
September 2022 from Rs 1,113.20 crore as of 30 September
2021. Intangible assets declined from Rs 990.90 crore to Rs 668.00
crore.
Profit before tax grew
23.92% to Rs 1,752.30 crore. Share of profit/loss were nil in both
the periods. Provision for tax was expense of Rs 438.1 crore,
compared to Rs 365.6 crore. Effective tax rate was 25.00% compared
to 25.85%.
Minority interest
increased 100% to Rs 1.40 crore. Net profit attributable to owners
of the company increased 25.29% to Rs 1,312.80 crore.
Equity capital stood at
Rs 17.50 crore as of 30 September 2022 to Rs 17.50 crore as of 30 September
2021. Per share face Value remained same at Rs 1.00.
Promoters’ stake was
74.03% as of 30 September 2022 ,compared to 74.09% as of 30 September 2021
.
Cash flow from operating
activities decreased to Rs 586.30 crore for YTD ended September 2022 from Rs
598.40 crore for YTD ended September 2021. Cash flow used in
acquiring fixed assets during the YTD ended September 2022 stood at Rs 398.50
crore, compared to Rs 308.90 crore during the YTD ended September
2021.
Management Comment:
Commenting on the performance Mr SudhirChaturvedi, President
Sales & Executive Board Member said: “We are happy to report 21.6% YoY
revenue growth in constant currency. We remain excited about the proactive
conversations we are having with our customers and see increased traction in
the cloud and analytics space. The strength of our pipeline and our sustained
net headcount addition will continue to fuel our growth”.
Nachiket Deshpande, Chief Operating Officer & Executive
Board Member said: “We are happy to be on the last leg of the approval process
for the LTI Mindtree merger and are most likely to combine forces by the end of
this calendar year. The merged company will bring together complimentary
portfolios and a large customer base creating extraordinary value for all
stakeholders.”
| Larsen & Toubro Infotech : Consolidated Results | | | Quarter ended | Year to Date | Year ended |
|---|
| Particulars | 202209 | 202109 | Var.(%) | 202209 | 202109 | Var.(%) | 202203 | 202103 | Var.(%) |
|---|
| Net Sales (including other operating income) | 4,836.70 | 3,767.00 | 28.40 | 9,359.50 | 7,229.50 | 29.46 | 15,668.70 | 12,369.80 | 26.67 | | OPM (%) | 18.85 | 19.46 | -61 bps | 18.62 | 19.10 | -48 bps | 19.52 | 22.03 | -251 bps | | OP | 911.70 | 733.20 | 24.35 | 1,742.50 | 1,380.90 | 26.19 | 3,058.40 | 2,725.10 | 12.23 | | Other Inc. | 139.30 | 111.20 | 25.27 | 283.40 | 232.80 | 21.74 | 466.70 | 274.40 | 70.08 | | PBIDT | 1,051.00 | 844.40 | 24.47 | 2,025.90 | 1,613.70 | 25.54 | 3,525.10 | 2,999.50 | 17.52 | | Interest | 18.90 | 17.40 | 8.62 | 36.30 | 35.10 | 3.42 | 72.80 | 78.80 | -7.61 | | PBDT | 1,032.10 | 827.00 | 24.80 | 1,989.60 | 1,578.60 | 26.04 | 3,452.30 | 2,920.70 | 18.20 | | Depreciation | 130.8 | 85 | 53.88 | 237.3 | 164.5 | 44.26 | 354.9 | 332.5 | 6.74 | | PBT | 901.30 | 742.00 | 21.47 | 1752.3 | 1414.1 | 23.92 | 3097.4 | 2588.2 | 19.67 | | Share of Profit/(Loss) from Associates | 0 | 0 | - | 0 | 0 | - | 0 | 0 | - | | PBT before EO | 901.3 | 742 | 21.47 | 1752.3 | 1414.1 | 23.92 | 3097.4 | 2588.2 | 19.67 | | EO Income | 0 | 0 | - | 0 | 0 | - | 0 | 0 | - | | PBT after EO | 901.3 | 742 | 21.47 | 1752.3 | 1414.1 | 23.92 | 3097.4 | 2588.2 | 19.67 | | Taxation | 221.5 | 190.3 | 16.40 | 438.1 | 365.6 | 19.83 | 798.9 | 650 | 22.91 | | PAT | 679.8 | 551.7 | 23.22 | 1314.2 | 1048.5 | 25.34 | 2298.5 | 1938.2 | 18.59 | | Minority Interest (MI) | 0.5 | 0.2 | 150.00 | 1.4 | 0.7 | 100.00 | 1.7 | 2.1 | -19.05 | | Net profit | 679.3 | 551.5 | 23.17 | 1312.8 | 1047.8 | 25.29 | 2296.8 | 1936.1 | 18.63 | | P/(L) from discontinued operations net of tax | 0 | 0 | - | 0 | 0 | - | 0 | 0 | - | | Net profit after discontinued operations | 679.3 | 551.5 | 23.17 | 1312.8 | 1047.8 | 25.29 | 2296.8 | 1936.1 | 18.63 | | EPS (Rs)* | 38.73 | 31.45 | 23.17 | 74.86 | 59.75 | 25.29 | 130.96 | 110.40 | 18.63 | | | * EPS is on current equity of Rs 17.54 crore, Face value of Rs 1, Excluding extraordinary items. | | # EPS is not annualised | | bps : Basis points | | EO : Extraordinary items | | Figures in Rs crore | | Source: Capitaline Corporate Database |
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