On consolidated basis
Quarter ended December 2022 compared
with Quarter ended September 2022.
Net
sales (including other operating income) of LTI Mindtree has increased 4.77% to
Rs 8620 crore.
Operating profit margin has declined
from 19.88% to 15.95%, leading to 15.95% decline in operating profit to Rs
1,374.80 crore. Employee cost increased from 62.22% to 63.48%.
Other expenses rose from 17.90% to 20.57%. Expenses
from contract fell from 8.87% to 8.75%.
Other
income fell 5.77% to Rs 151.8 crore. PBIDT fell 15.03% to Rs 1526.6
crore. Provision for interest rose 0.26% to Rs 37.9
crore.
PBDT fell 15.36% to Rs 1488.7
crore. Provision for depreciation fell 9.09% to Rs 178.1
crore.
Profit before tax down 16.15% to Rs
1,310.60 crore. Share of profit/loss were nil in both the
periods. Provision for tax was expense of Rs 309.9 crore, compared
to Rs 374 crore. Effective tax rate was 23.65% compared to 23.93%.
Minority interest decreased 60% to
Rs 0.20 crore. Net profit attributable to owners of the company
decreased 15.82% to Rs 1,000.50 crore.
Promoters’
stake was 68.69% as of 31 December 2022 ,compared to 74.00% as of 30 September
2022 .
Quarter ended December 2022 compared
with Quarter ended December 2021.
Net sales (including other operating
income) of LTI Mindtree has increased 25.28% to Rs 8620 crore. Sales
of Banking Financial Services segment has gone up 32.70% to Rs 3,201.20 crore
(accounting for 37.14% of total sales). Sales of Manufacturing
segment has gone up 19.84% to Rs 1,509.80 crore (accounting for 17.52% of total
sales). Sales of High Tech Media & Entertainment segment has
gone up 20.95% to Rs 2,057.60 crore (accounting for 23.87% of total
sales). Sales of CPG Retail Pharma segment has gone up 21.83% to Rs
1,309.20 crore (accounting for 15.19% of total sales). Sales of
Health & Public Services segment has gone up 25.31% to Rs 542.20 crore
(accounting for 6.29% of total sales).
Profit
before interest, tax and other unallocable items (PBIT) has jumped 0.20% to Rs
1,454.60 crore. PBIT of Banking Financial Services segment rose
13.77% to Rs 568.50 crore (accounting for 39.08% of total
PBIT). PBIT of Manufacturing segment fell 23.38% to Rs 191.40 crore
(accounting for 13.16% of total PBIT). PBIT of High Tech Media &
Entertainment segment fell 6.68% to Rs 378.30 crore (accounting for 26.01% of
total PBIT). PBIT of CPG Retail Pharma segment rose 20.99% to Rs
265.10 crore (accounting for 18.22% of total PBIT). PBIT of Health
& Public Services segment fell 33.98% to Rs 51.30 crore (accounting for
3.53% of total PBIT).
PBIT
margin of Banking Financial Services segment fell from 20.71% to
17.76%. PBIT margin of Manufacturing segment fell from 19.83% to
12.68%. PBIT margin of High Tech Media & Entertainment segment
fell from 23.83% to 18.39%. PBIT margin of CPG Retail Pharma segment
fell from 20.39% to 20.25%. PBIT margin of Health & Public
Services segment fell from 17.96% to 9.46%. Overall PBIT margin fell
from 21.10% to 16.87%.
Operating profit margin has declined
from 20.73% to 15.95%, leading to 3.61% decline in operating profit to Rs
1,374.80 crore. Employee cost increased from 60.37% to 63.48%.
Other expenses rose from 18.91% to 20.57%. Expenses
from contract rose from 8.64% to 8.75%.
Other
income fell 8.61% to Rs 151.8 crore. PBIDT fell 4.13% to Rs 1526.6
crore. Provision for interest rose 20.70% to Rs 37.9
crore.
PBDT
fell 4.63% to Rs 1488.7 crore. Provision for depreciation rose
17.33% to Rs 178.1 crore.
Profit
before tax down 7% to Rs 1,310.60 crore. Share of profit/loss were
nil in both the periods. Provision for tax was expense of Rs 309.9
crore, compared to Rs 359.1 crore. Effective tax rate was 23.65%
compared to 25.48%.
Minority interest decreased 60% to
Rs 0.20 crore. Net profit attributable to owners of the company
decreased 4.68% to Rs 1,000.50 crore.
Promoters’
stake was 68.69% as of 31 December 2022 ,compared to 74.07% as of 31 December
2021 .
Year-to-date (YTD) results analysis.
Net sales (including other operating income) of LTI Mindtree has increased
29.04% to Rs 24492 crore. Sales of Banking Financial Services
segment has gone up 34.08% to Rs 8,920.90 crore (accounting for 36.42% of total
sales). Sales of Manufacturing segment has gone up 21.38% to Rs
4,087.40 crore (accounting for 16.69% of total sales). Sales of High
Tech Media & Entertainment segment has gone up 29.19% to Rs 6,101.60 crore
(accounting for 24.91% of total sales). Sales of CPG Retail Pharma
segment has gone up 26.44% to Rs 3,777.70 crore (accounting for 15.42% of total
sales). Sales of Health & Public Services segment has gone up
28.52% to Rs 1,604.40 crore (accounting for 6.55% of total sales).
Profit
before interest, tax and other unallocable items (PBIT) has jumped 20.11% to Rs
4,631.60 crore. PBIT of Banking Financial Services segment rose
19.71% to Rs 1,629.50 crore (accounting for 35.18% of total
PBIT). PBIT of Manufacturing segment fell 4.84% to Rs 649.00 crore
(accounting for 14.01% of total PBIT). PBIT of High Tech Media &
Entertainment segment rose 28.34% to Rs 1,346.20 crore (accounting for 29.07%
of total PBIT). PBIT of CPG Retail Pharma segment rose 36.76% to Rs
760.80 crore (accounting for 16.43% of total PBIT). PBIT of Health
& Public Services segment rose 18.55% to Rs 246.10 crore (accounting for 5.31%
of total PBIT).
PBIT
margin of Banking Financial Services segment fell from 20.46% to
18.27%. PBIT margin of Manufacturing segment fell from 20.25% to
15.88%. PBIT margin of High Tech Media & Entertainment segment
fell from 22.21% to 22.06%. PBIT margin of CPG Retail Pharma segment
rose from 18.62% to 20.14%. PBIT margin of Health & Public
Services segment fell from 16.63% to 15.34%. Overall PBIT margin
fell from 20.32% to 18.91%.
Operating profit margin has declined
from 20.01% to 18.39%, leading to 18.60% rise in operating profit to Rs
4,504.00 crore. Employee cost increased from 61.34% to 62.47%.
Other expenses rose from 18.65% to 19.14%. Expenses
from contract fell from 9.11% to 8.81%.
Other
income fell 9.69% to Rs 490.5 crore. PBIDT rose 15.06% to Rs 4994.5
crore. Provision for interest rose 16.09% to Rs 106.8
crore.
PBDT
rose 15.04% to Rs 4887.7 crore. Provision for depreciation rose
24.09% to Rs 540.4 crore.
Profit before tax grew 14.01% to Rs
4,347.30 crore. Share of profit/loss were nil in both the
periods. Provision for tax was expense of Rs 1051.1 crore, compared
to Rs 972.3 crore. Effective tax rate was 24.18% compared to 25.50%.
Minority
interest increased 33.33% to Rs 1.60 crore. Net profit attributable
to owners of the company increased 16.02% to Rs 3,294.60 crore.
Promoters’
stake was 68.69% as of 31 December 2022 ,compared to 74.07% as of 31 December
2021 .
Dividend: The Board
of directors have declared an interim dividend of Rs 20 per equity share of Rs
1 each.
Management Comment:
Commenting on the performance Mr
Debashis Chatterjee CEO and MD said: “We are pleased to report a strong Q3
FY23, our first as LTIMindtree,”. “The combined entity has started out with a
USD 1 billion quarterly revenue run rate, a top-quartile constant currency
year-overyear revenue growth of 16.3%, and a robust order inflow of USD 1.25
billion. Our performance speaks to our steadfast client focus through the
merger and our resilient client and solutions portfolio. Clients across sectors
are evincing keen interest in our unique value proposition spanning core to
experience to edge. The client imperative to dial up technology-led innovation
for future-readiness holds significant long-term upside for our full-stack
offerings and cross industry exposure, boosting our endeavour to deliver
industry-leading revenue growth in the future as well.”
| LTI Mindtree : Consolidated Results | | | Quarter ended | Year to Date | Year ended |
|---|
| Particulars | 202212 | 202112 | Var.(%) | 202212 | 202112 | Var.(%) | 202203 | 202103 | Var.(%) |
|---|
| Net Sales (including other operating income) | 8,620.00 | 6,880.70 | 25.28 | 24,492.00 | 18,980.10 | 29.04 | 26,108.70 | - | - | | OPM (%) | 15.95 | 20.73 | -478 bps | 18.39 | 20.01 | -162 bps | 20.10 | - | | | OP | 1,374.80 | 1,426.30 | -3.61 | 4,504.00 | 3,797.60 | 18.60 | 5,248.60 | - | | | Other Inc. | 151.80 | 166.10 | -8.61 | 490.50 | 543.10 | -9.69 | 765.80 | - | | | PBIDT | 1,526.60 | 1,592.40 | -4.13 | 4,994.50 | 4,340.70 | 15.06 | 6,014.40 | - | | | Interest | 37.90 | 31.40 | 20.70 | 106.80 | 92.00 | 16.09 | 123.40 | - | | | PBDT | 1,488.70 | 1,561.00 | -4.63 | 4,887.70 | 4,248.70 | 15.04 | 5,891.00 | - | | | Depreciation | 178.1 | 151.8 | 17.33 | 540.4 | 435.5 | 24.09 | 597.1 | - | | | PBT | 1,310.60 | 1,409.20 | -7.00 | 4347.3 | 3813.2 | 14.01 | 5293.9 | - | | | Share of Profit/(Loss) from Associates | 0 | 0 | - | 0 | 0 | - | 0 | 0 | - | | PBT before EO | 1310.6 | 1409.2 | -7.00 | 4347.3 | 3813.2 | 14.01 | 5293.9 | - | | | EO Income | 0 | 0 | - | 0 | 0 | - | 0 | 0 | - | | PBT after EO | 1310.6 | 1409.2 | -7.00 | 4347.3 | 3813.2 | 14.01 | 5293.9 | - | | | Taxation | 309.9 | 359.1 | -13.70 | 1051.1 | 972.3 | 8.10 | 1343.9 | - | | | PAT | 1000.7 | 1050.1 | -4.70 | 3296.2 | 2840.9 | 16.03 | 3950 | | | | Minority Interest (MI) | 0.2 | 0.5 | -60.00 | 1.6 | 1.2 | 33.33 | 1.7 | | | | Net profit | 1000.5 | 1049.6 | -4.68 | 3294.6 | 2839.7 | 16.02 | 3948.3 | | | | P/(L) from discontinued operations net of tax | 0 | 0 | - | 0 | 0 | - | 0 | | | | Net profit after discontinued operations | 1000.5 | 1049.6 | -4.68 | 3294.6 | 2839.7 | 16.02 | 3948.3 | | | | EPS (Rs)* | 33.82 | 35.48 | -4.68 | 111.38 | 96.00 | 16.02 | 133.48 | | | | | * EPS is on current equity of Rs 29.58 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 |
|
| LTI Mindtree : Consolidated Segment Results | td>-| | Quarter ended | Year to Date | Year ended |
|---|
| % of (Total) | 202212 | 202112 | Var.(%) | % of (Total) | 202212 | 202112 | Var.(%) | % of (Total) | 202203 | 202103 | Var.(%) |
|---|
| Sales | | Banking Financial Services | 37.14 | 3,201.20 | 2,412.40 | 32.70 | 36.42 | 8,920.90 | 6,653.60 | 34.08 | 35.11 | 9,167.70 | - | | | Manufacturing | 17.52 | 1,509.80 | 1,259.80 | 19.84 | 16.69 | 4,087.40 | 3,367.40 | 21.38 | 17.66 | 4,610.70 | | | | Energy & Utilities | 0.00 | 0.00 | 0.00 | - | | High Tech Media & Entertainment | 23.87 | 2,057.60 | 1,701.20 | 20.95 | 24.91 | 6,101.60 | 4,723.00 | 29.19 | 24.95 | 6,515.00 | | | | CPG Retail Pharma | 15.19 | 1,309.20 | 1,074.60 | 21.83 | 15.42 | 3,777.70 | 2,987.70 | 26.44 | 15.73 | 4,107.40 | | | | Health & Public Services | 6.29 | 542.20 | 432.70 | 25.31 | 6.55 | 1,604.40 | 1,248.40 | 28.52 | | Total Reported Sales | 100.00 | 8,620.00 | 6,880.70 | 25.28 | 100.00 | 24,492.00 | 18,980.10 | 29.04 | 100.00 | 26,108.70 | | | | Less: Inter segment revenues | | 0.00 | 0.00 | - | | 0.00 | 0.00 | | 0.00 | 0.00 | | | Net Sales | 100.00 | 8,620.00 | 6,880.70 | 25.28 | 100.00 | 24,492.00 | 18,980.10 | 29.04 | 100.00 | 26,108.70 | | | | PBIT | | Banking Financial Services | 39.08 | 568.50 | 499.70 | 13.77 | 35.18 | 1,629.50 | 1,361.20 | 19.71 | 34.54 | 1,842.80 | | | | Manufacturing | 13.16 | 191.40 | 249.80 | -23.38 | 14.01 | 649.00 | 682.00 | -4.84 | 17.65 | 941.40 | | | | Energy & Utilities | 0.00 | 0.00 | 0.00 | - | | High Tech Media & Entertainment | 26.01 | 378.30 | 405.40 | -6.68 | 29.07 | 1,346.20 | 1,048.90 | 28.34 | 27.95 | 1,491.10 | | | | CPG Retail Pharma | 18.22 | 265.10 | 219.10 | 20.99 | 16.43 | 760.80 | 556.30 | 36.76 | 14.53 | 775.20 | | | | Health & Public Services | 3.53 | 51.30 | 77.70 | -33.98 | 5.31 | 246.10 | 207.60 | 18.55 | | Total PBIT | 100.00 | 1,454.60 | 1,451.70 | 0.20 | 100.00 | 4,631.60 | 3,856.00 | 20.11 | 100.00 | 5,334.70 | | | | Less : Interest | | 37.90 | 31.40 | 20.70 | | 106.80 | 92.00 | 16.09 | | 123.40 | | | | Add: Other un-allcoable | | -106.10 | -11.10 | -855.86 | | -177.50 | 49.20 | PL | | 82.60 | | | | PBIT Margin(%) | | Banking Financial Services | | 17.76 | 20.71 | -295.48 | | 18.27 | 20.46 | -219.20 | | 20.10 | | | | Manufacturing | | 12.68 | 19.83 | -715.14 | | 15.88 | 20.25 | -437.49 | | 20.42 | | | | Energy & Utilities | | 0.00 | 0.00 | 0.00 | | 0.00 | 21.03 | -2,103.03 | | High Tech Media & Entertainment | | 18.39 | 23.83 | -544.47 | | 22.06 | 22.21 | -14.53 | | 22.89 | | | | CPG Retail Pharma | | 20.25 | 20.39 | -14.00 | | 20.14 | 18.62 | 151.96 | | 18.87 | | | | Health & Public Services | | 9.46 | 17.96 | -849.56 | | 15.34 | 16.63 | -129.02 | | 16.64 | | | | PBT | 100.00 | 1,310.60 | 1,409.20 | -7.00 | 100.00 | 4,347.30 | 3,813.20 | 14.01 | 100.00 | 5,293.90 | | |
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