On consolidated basis
Quarter ended June 2023 compared
with Quarter ended March 2023.
Net sales (including other operating
income) of LTIMindtree has increased 0.13% to Rs 8702.1 crore.
Operating profit margin has jumped
from 18.45% to 18.79%, leading to 1.98% rise in operating profit to Rs 1,635.50
crore. Employee cost increased from 64.21% to 64.34%.
Other expenses fell from 17.34% to 16.87%. Expenses
from contract fell from 7.71% to 7.37%.
Other income rose 98.19% to Rs 131.6
crore. PBIDT rose 5.81% to Rs 1767.1 crore. Provision for
interest rose 5.50% to Rs 46 crore.
PBDT rose 5.82% to Rs 1721.1
crore. Provision for depreciation rose 1.32% to Rs 184.7
crore.
Profit before tax grew 6.38% to Rs
1,536.40 crore. Share of profit/loss were nil in both the
periods. Provision for tax was expense of Rs 384.1 crore, compared
to Rs 330.1 crore. Effective tax rate was 25.00% compared to 22.86%.
Minority interest increased 100% to
Rs 0.80 crore. Net profit attributable to owners of the company
increased 3.39% to Rs 1,151.50 crore.
Promoters’ stake was 68.68% as of 30
June 2023 ,compared to 68.68% as of 31 March 2023 .
Quarter ended June 2023 compared
with Quarter ended June 2022.
Net sales (including other operating income) of LTIMindtree has increased
13.84% to Rs 8702.1 crore. Sales of Banking Financial Services
segment has gone up 18.57% to Rs 3,260.40 crore (accounting for 37.47% of total
sales). Sales of Manufacturing segment has gone up 21.12% to Rs
1,505.70 crore (accounting for 17.30% of total sales). Sales of High
Tech Media & Entertainment segment has gone up 5.81% to Rs 2,061.10 crore
(accounting for 23.69% of total sales). Sales of CPG Retail Pharma
segment has gone up 9.97% to Rs 1,318.10 crore (accounting for 15.15% of total
sales). Sales of Health & Public Services segment has gone up
10.30% to Rs 556.80 crore (accounting for 6.40% of total sales).
Profit before interest, tax and
other unallocable items (PBIT) has jumped 9.50% to Rs 1,635.50
crore. PBIT of Banking Financial Services segment rose 14.59% to Rs
568.70 crore (accounting for 34.77% of total PBIT). PBIT of
Manufacturing segment rose 24.71% to Rs 265.50 crore (accounting for 16.23% of
total PBIT). PBIT of High Tech Media & Entertainment segment rose
5.48% to Rs 480.80 crore (accounting for 29.40% of total PBIT). PBIT
of CPG Retail Pharma segment rose 5.64% to Rs 247.30 crore (accounting for
15.12% of total PBIT). PBIT of Health & Public Services segment
fell 22.54% to Rs 73.20 crore (accounting for 4.48% of total PBIT).
PBIT margin of Banking Financial
Services segment fell from 18.05% to 17.44%. PBIT margin of
Manufacturing segment rose from 17.13% to 17.63%. PBIT margin of
High Tech Media & Entertainment segment fell from 23.40% to 23.33%. PBIT
margin of CPG Retail Pharma segment fell from 19.53% to 18.76%. PBIT
margin of Health & Public Services segment fell from 18.72% to
13.15%. Overall PBIT margin fell from 19.54% to 18.79%.
Operating profit margin has declined
from 19.54% to 18.79%, leading to 9.50% rise in operating profit to Rs 1,635.50
crore. Employee cost increased from 61.59% to 64.34%.
Other expenses fell from 18.87% to 16.87%. Expenses
from contract fell from 8.82% to 7.37%.
Other income fell 25.90% to Rs 131.6
crore. PBIDT rose 5.74% to Rs 1767.1 crore. Provision for
interest rose 47.91% to Rs 46 crore.
PBDT rose 4.94% to Rs 1721.1
crore. Provision for depreciation rose 11% to Rs 184.7
crore.
Profit before tax grew 4.25% to Rs
1,536.40 crore. Share of profit/loss were nil in both the periods. Provision
for tax was expense of Rs 384.1 crore, compared to Rs 367.2
crore. Effective tax rate was 25.00% compared to 24.92%.
Minority interest decreased 11.11%
to Rs 0.80 crore. Net profit attributable to owners of the company
increased 4.15% to Rs 1,151.50 crore.
Promoters’ stake was 68.68% as of 30
June 2023 ,compared to 74.03% as of 30 June 2022 .
Full year results analysis.
Net sales (including other operating income) of LTIMindtree has increased
111.78% to Rs 33183 crore. Sales of Banking Financial Services
segment has gone up 33.33% to Rs 12,249.40 crore (accounting for 36.91% of
total sales). Sales of Manufacturing segment has gone up 21.70% to
Rs 5,611.00 crore (accounting for 16.91% of total sales). Sales of
High Tech Media & Entertainment segment has gone up 24.20% to Rs 8,066.10
crore (accounting for 24.31% of total sales). Sales of CPG Retail
Pharma segment has gone up 24.43% to Rs 5,112.30 crore (accounting for 15.41%
of total sales). Sales of Health & Public Services segment has
gone up 25.53% to Rs 2,144.20 crore (accounting for 6.46% of total
sales).
Profit before interest, tax and
other unallocable items (PBIT) has jumped 16.37% to Rs 6,107.70
crore. PBIT of Banking Financial Services segment rose 19.81% to Rs
2,175.40 crore (accounting for 35.62% of total PBIT). PBIT of
Manufacturing segment fell 3.58% to Rs 890.20 crore (accounting for 14.58% of
total PBIT). PBIT of High Tech Media & Entertainment segment
rose 17.31% to Rs 1,722.80 crore (accounting for 28.21% of total
PBIT). PBIT of CPG Retail Pharma segment rose 31.76% to Rs 1,003.50
crore (accounting for 16.43% of total PBIT). PBIT of Health &
Public Services segment rose 13.03% to Rs 315.80 crore (accounting for 5.17% of
total PBIT).
PBIT margin of Banking Financial
Services segment fell from 19.76% to 17.76%. PBIT margin of
Manufacturing segment fell from 20.03% to 15.87%. PBIT margin of
High Tech Media & Entertainment segment fell from 22.61% to
21.36%. PBIT margin of CPG Retail Pharma segment rose from 18.54% to
19.63%. PBIT margin of Health & Public Services segment fell
from 16.36% to 14.73%. Overall PBIT margin fell from 20.10% to
18.41%.
Operating profit margin has declined
from 19.52% to 18.41%, leading to 99.70% rise in operating profit to Rs
6,107.70 crore. Employee cost increased from 61.91% to 62.92%.
Other expenses rose from 18.57% to 18.67%.
Other income rose 19.33% to Rs 556.9
crore. PBIDT rose 89.06% to Rs 6664.6 crore. Provision
for interest rose 106.59% to Rs 150.4 crore. Loan funds rose to Rs
1,541.20 crore as of 31 March 2023 from Rs 835.50 crore as of 31 March
2022. Sundry debtors were higher at Rs 5,623.40 crore as of 31 March
2023 compared to Rs 2,833.50 crore as of 31 March 2022. Cash and
bank balance rose to Rs 2,932.00 crore as of 31 March 2023 from Rs 777.30 crore
as of 31 March 2022. Investments rose to Rs 5,458.30 crore as of 31
March 2023 from Rs 3,482.00 crore as of 31 March 2022 .
PBDT rose 88.69% to Rs 6514.2
crore. Provision for depreciation rose 103.63% to Rs 722.7
crore. Fixed assets increased to Rs 3,036.20 crore as of 31 March
2023 from Rs 1,889.00 crore as of 31 March 2022. Intangible assets
increased from Rs 690.00 crore to Rs 1,545.20 crore.
Profit before tax grew 86.98% to Rs
5,791.50 crore. Share of profit/loss were nil in both the
periods. Provision for tax was expense of Rs 1381.2 crore, compared
to Rs 798.9 crore. Effective tax rate was 23.85% compared to 25.79%.
Minority interest increased 17.65%
to Rs 2.00 crore. Net profit attributable to owners of the company
increased 91.93% to Rs 4,408.30 crore.
Equity capital increased from Rs
17.50 crore as of 31 March 2022 to Rs 29.60 crore as of 31 March
2023. Per share face Value remained same at Rs 1.00.
Promoters’ stake was 68.68% as of 31
March 2023 ,compared to 74.05% as of 31 March 2022 .
Cash flow from operating activities
decreased to Rs 3,094.60 crore for year ended March 2023 from Rs 3,250.70 crore
for year ended March 2022. Cash flow used in acquiring fixed assets
during the year ended March 2023 stood at Rs 939.30 crore, compared to Rs
1,057.30 crore during the year ended March 2022.
Management Comment:
Commenting on the performance Mr
Debashis Chatterjee CEO and MD said: “During the first quarter of FY24,
LTIMindtree delivered 8.2% YoY revenue growth in Constant Currency. Our key
verticals BFSI, Manufacturing & Resources and Hi-Tech, Media, and Entertainment
which make up 75% of our revenues performed well. Our strategic programs are bearing
fruit and is evident in the upward movement across our client buckets. The
order inflow continued to increase and reached USD 1.41 billion in this
quarter. Our operational rigor helped us achieve an EBIT of 16.7% and PAT of
13.2%”.
| LTIMindtree : Consolidated Results | | | Quarter ended | Year ended |
|---|
| Particulars | 202306 | 202206 | Var.(%) | 202303 | 202203 | Var.(%) |
|---|
| Net Sales (including other operating income) | 8,702.10 | 7,644.20 | 13.84 | 33,183.00 | 15,668.70 | 111.78 | | OPM (%) | 18.79 | 19.54 | -74 bps | 18.41 | 19.52 | -111 bps | | OP | 1,635.50 | 1,493.60 | 9.50 | 6,107.70 | 3,058.40 | 99.70 | | Other Inc. | 131.60 | 177.60 | -25.90 | 556.90 | 466.70 | 19.33 | | PBIDT | 1,767.10 | 1,671.20 | 5.74 | 6,664.60 | 3,525.10 | 89.06 | | Interest | 46.00 | 31.10 | 47.91 | 150.40 | 72.80 | 106.59 | | PBDT | 1,721.10 | 1,640.10 | 4.94 | 6,514.20 | 3,452.30 | 88.69 | | Depreciation | 184.7 | 166.4 | 11.00 | 722.7 | 354.9 | 103.63 | | PBT | 1,536.40 | 1,473.70 | 4.25 | 5791.5 | 3097.4 | 86.98 | | Share of Profit/(Loss) from Associates | 0 | 0 | - | 0 | 0 | - | | PBT before EO | 1536.4 | 1473.7 | 4.25 | 5791.5 | 3097.4 | 86.98 | | EO Income | 0 | 0 | - | 0 | 0 | - | | PBT after EO | 1536.4 | 1473.7 | 4.25 | 5791.5 | 3097.4 | 86.98 | | Taxation | 384.1 | 367.2 | 4.60 | 1381.2 | 798.9 | 72.89 | | PAT | 1152.3 | 1106.5 | 4.14 | 4410.3 | 2298.5 | 91.88 | | Minority Interest (MI) | 0.8 | 0.9 | -11.11 | 2 | 1.7 | 17.65 | | Net profit | 1151.5 | 1105.6 | 4.15 | 4408.3 | 2296.8 | 91.93 | | P/(L) from discontinued operations net of tax | 0 | 0 | - | 0 | 0 | - | | Net profit after discontinued operations | 1151.5 | 1105.6 | 4.15 | 4408.3 | 2296.8 | 91.93 | | EPS (Rs)* | 38.92 | 37.37 | 4.15 | 148.99 | 77.62 | 91.93 | | | * EPS is on current equity of Rs 29.59 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 |
|
| LTIMindtree : Consolidated Segment Results | | | Quarter ended | Year ended |
|---|
| % of (Total) | 202306 | 202206 | Var.(%) | % of (Total) | 202303 | 202203 | Var.(%) |
|---|
| Sales | | Banking Financial Services | 37.47 | 3,260.40 | 2,749.70 | 18.57 | 36.91 | 12,249.40 | 9,187.30 | 33.33 | | Manufacturing | 17.30 | 1,505.70 | 1,243.10 | 21.12 | 16.91 | 5,611.00 | 4,610.60 | 21.70 | | Energy & Utilities | 0.00 | 0.00 | 0.00 | - | | High Tech Media & Entertainment | 23.69 | 2,061.10 | 1,948.00 | 5.81 | 24.31 | 8,066.10 | 6,494.20 | 24.20 | | CPG Retail Pharma | 15.15 | 1,318.10 | 1,198.60 | 9.97 | 15.41 | 5,112.30 | 4,108.50 | 24.43 | | Health & Public Services | 6.40 | 556.80 | 504.80 | 10.30 | 6.46 | 2,144.20 | 1,708.10 | 25.53 | | Total Reported Sales | 100.00 | 8,702.10 | 7,644.20 | 13.84 | 100.00 | 33,183.00 | 26,108.70 | 27.10 | | Less: Inter segment revenues | | 0.00 | 0.00 | - | | 0.00 | 0.00 | - | | Net Sales | 100.00 | 8,702.10 | 7,644.20 | 13.84 | 100.00 | 33,183.00 | 26,108.70 | 27.10 | | PBIT | | Banking Financial Services | 34.77 | 568.70 | 496.30 | 14.59 | 35.62 | 2,175.40 | 1,815.70 | 19.81 | | Manufacturing | 16.23 | 265.50 | 212.90 | 24.71 | 14.58 | 890.20 | 923.30 | -3.58 | | Energy & Utilities | 0.00 | 0.00 | 0.00 | - | | High Tech Media & Entertainment | 29.40 | 480.80 | 455.80 | 5.48 | 28.21 | 1,722.80 | 1,468.60 | 17.31 | | CPG Retail Pharma | 15.12 | 247.30 | 234.10 | 5.64 | 16.43 | 1,003.50 | 761.60 | 31.76 | | Health & Public Services | 4.48 | 73.20 | 94.50 | -22.54 | 5.17 | 315.80 | 279.40 | 13.03 | | Total PBIT | 100.00 | 1,635.50 | 1,493.60 | 9.50 | 100.00 | 6,107.70 | 5,248.60 | 16.37 | | Less : Interest | | 46.00 | 31.10 | 47.91 | | 150.40 | 123.40 | 21.88 | | Add: Other un-allcoable | | -53.10 | 11.20 | PL | | -165.80 | 168.70 | PL | | PBIT Margin(%) | | Banking Financial Services | | 17.44 | 18.05 | -60.66 | | 17.76 | 19.76 | -200.39 | | Manufacturing | | 17.63 | 17.13 | 50.65 | | 15.87 | 20.03 | -416.03 | | Energy & Utilities | | 0.00 | 0.00 | 0.00 | | High Tech Media & Entertainment | | 23.33 | 23.40 | -7.10 | | 21.36 | 22.61 | -125.55 | | CPG Retail Pharma | | 18.76 | 19.53 | -76.93 | | 19.63 | 18.54 | 109.20 | | Health & Public Services | | 13.15 | 18.72 | -557.37 | | 14.73 | 16.36 | -162.93 | | PBT | 100.00 | 1,536.40 | 1,473.70 | 4.25 | 100.00 | 5,791.50 | 5,293.90 | 9.40 |
|
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