On consolidated basis
Quarter ended March 2024 compared
with Quarter ended December 2023.
Net sales (including other operating income) of LTIMindtree has declined 1.37%
to Rs 8892.9 crore.
Operating profit margin has declined
from 17.58% to 17.27%, leading to 3.10% decline in operating profit to Rs
1,535.70 crore. Employee cost increased from 62.47% to 65.45%.
Other expenses fell from 19.95% to 17.28%. Expenses
from contract fell from 7.23% to 6.70%.
Other income fell 5.42% to Rs 207.6
crore. PBIDT fell 3.39% to Rs 1743.3 crore. Provision for
interest rose 12.03% to Rs 68 crore. Loan funds remained
nil.
PBDT fell 3.92% to Rs 1675.3
crore. Provision for depreciation rose 14.07% to Rs 227
crore.
Profit before tax down 6.24% to Rs
1,448.30 crore. Share of profit/loss were nil in both the
periods. Provision for tax was expense of Rs 347.6 crore, compared
to Rs 375.4 crore. Effective tax rate was 24.00% compared to 24.30%.
Minority interest increased 100% to
Rs 0.80 crore. Net profit attributable to owners of the company
decreased 5.90% to Rs 1,099.90 crore.
Promoters’ stake was 68.60% as of 31
March 2024 ,compared to 68.64% as of 31 December 2023 .
Quarter ended March 2024 compared with Quarter ended March 2023.
Net sales (including other operating income) of LTIMindtree has increased 2.32%
to Rs 8892.9 crore. Sales of Banking Financial Services segment has
gone down 5.38% to Rs 3,121.80 crore (accounting for 35.10% of total
sales). Sales of Manufacturing segment has gone up 8.55% to Rs
1,653.40 crore (accounting for 18.59% of total sales). Sales of High
Tech Media & Entertainment segment has gone up 8.20% to Rs 2,162.80 crore
(accounting for 24.32% of total sales). Sales of CPG Retail Pharma
segment has gone up 0.61% to Rs 1,342.70 crore (accounting for 15.10% of total
sales). Sales of Health & Public Services segment has gone up
14.37% to Rs 612.20 crore (accounting for 6.88% of total sales).
Profit before interest, tax and
other unallocable items (PBIT) has slumped 4.24% to Rs 1,535.70 crore. PBIT
of Banking Financial Services segment fell 17.06% to Rs 487.70 crore
(accounting for 31.76% of total PBIT). PBIT of Manufacturing segment
fell 3.69% to Rs 258.60 crore (accounting for 16.84% of total
PBIT). PBIT of High Tech Media & Entertainment segment rose
6.43% to Rs 436.70 crore (accounting for 28.44% of total PBIT). PBIT
of CPG Retail Pharma segment fell 6.98% to Rs 242.60 crore (accounting for
15.80% of total PBIT). PBIT of Health & Public Services segment
rose 44.68% to Rs 110.10 crore (accounting for 7.17% of total
PBIT).
PBIT margin of Banking Financial
Services segment fell from 17.82% to 15.62%. PBIT margin of
Manufacturing segment fell from 17.63% to 15.64%. PBIT margin of
High Tech Media & Entertainment segment fell from 20.53% to
20.19%. PBIT margin of CPG Retail Pharma segment fell from 19.54% to
18.07%. PBIT margin of Health & Public Services segment rose
from 14.22% to 17.98%. Overall PBIT margin fell from 18.45% to
17.27%.
Operating profit margin has declined
from 18.45% to 17.27%, leading to 4.24% decline in operating profit to Rs
1,535.70 crore. Employee cost increased from 64.21% to 65.45%.
Other expenses fell from 17.34% to 17.28%. Expenses
from contract fell from 7.71% to 6.70%.
Other income rose 212.65% to Rs
207.6 crore. PBIDT rose 4.38% to Rs 1743.3
crore. Provision for interest rose 55.96% to Rs 68
crore. Loan funds rose to Rs 2,070.60 crore as of 31 March 2024 from
Rs 1,541.20 crore as of 31 March 2023. Inventories declined from Rs
3.30 crore as of 31 March 2023 to Rs 3.00 crore as of 31 March
2024. Sundry debtors were higher at Rs 5,706.00 crore as of 31 March
2024 compared to Rs 5,623.40 crore as of 31 March 2023. Cash and
bank balance declined from Rs 2,932.00 crore as of 31 March 2023 to Rs 2,816.00
crore as of 31 March 2024. Investments rose to Rs 8,743.60 crore as
of 31 March 2024 from Rs 5,458.30 crore as of 31 March 2023 .
PBDT rose 3% to Rs 1675.3
crore. Provision for depreciation rose 24.52% to Rs 227
crore. Fixed assets increased to Rs 4,338.80 crore as of 31 March
2024 from Rs 3,392.20 crore as of 31 March 2023. Intangible assets
increased from Rs 1,189.20 crore to Rs 1,192.70 crore.
Profit before tax grew 0.28% to Rs
1,448.30 crore. Share of profit/loss were nil in both the periods. Provision
for tax was expense of Rs 347.6 crore, compared to Rs 330.1
crore. Effective tax rate was 24.00% compared to 22.86%.
Minority interest increased 100% to
Rs 0.80 crore. Net profit attributable to owners of the company
decreased 1.24% to Rs 1,099.90 crore.
Equity capital stood at Rs 29.60
crore as of 31 March 2024 to Rs 29.60 crore as of 31 March 2023. Per
share face Value remained same at Rs 1.00.
Promoters’ stake was 68.60% as of 31
March 2024 ,compared to 68.68% as of 31 March 2023 .
For
year-to-date (YTD) results analysis.
Net sales (including other operating income) of L&T Technology Services has
increased 10.32% to Rs 7109.7 crore. Sales of Transportation segment
has gone up 14.84% to Rs 2,350.00 crore (accounting for 33.05% of total
sales). Sales of Process Engineering segment has gone up 5.27% to Rs
994.60 crore (accounting for 13.99% of total sales). Sales of
Industrial Products segment rose 10.08% to Rs 1,234.40 crore (accounting for
17.36% of total sales). Sales of Medical Devices segment has gone up
11.74% to Rs 724.20 crore (accounting for 10.19% of total
sales). Sales of Telecom segment has gone up 7.26% to Rs 1,806.50
crore (accounting for 25.41% of total sales).
Profit before interest, tax and
other unallocable items (PBIT) has jumped 7.76% to Rs 1,473.30
crore. PBIT of Transportation segment rose 11.30% to Rs 458.00 crore
(accounting for 31.09% of total PBIT). PBIT of Process Engineering
segment rose 2.00% to Rs 255.40 crore (accounting for 17.34% of total
PBIT). PBIT of Industrial Products segment rose 10.10% to Rs 369.60
crore (accounting for 25.09% of total PBIT). PBIT of Medical Devices
segment rose 8.39% to Rs 222.20 crore (accounting for 15.08% of total
PBIT). PBIT of Telecom segment rose 2.13% to Rs 168.10 crore
(accounting for 11.41% of total PBIT).
PBIT margin of Transportation
segment fell from 20.11% to 19.49%. PBIT margin of Process
Engineering segment fell from 26.50% to 25.68%. PBIT margin of
Industrial Products segment rose from 29.94% to 29.94%. PBIT margin
of Medical Devices segment fell from 31.63% to 30.68%. PBIT margin
of Telecom segment fell from 9.77% to 9.31%. Overall PBIT margin
fell from 21.21% to 20.72%.
Operating profit margin has jumped
from 19.87% to 19.92%, leading to 10.58% rise in operating profit to Rs
1,416.10 crore. Employee cost decreased from 53.47% to 52.19%.
Other expenses rose from 26.66% to 27.89%.
Other income fell 1.05% to Rs 151.3
crore. PBIDT rose 9.34% to Rs 1567.4 crore. Provision for
interest rose 14.24% to Rs 37.7 crore.
PBDT rose 9.23% to Rs 1529.7
crore. Provision for depreciation rose 11.36% to Rs 197
crore.
Profit before tax grew 8.92% to Rs
1,332.70 crore. Share of profit/loss were nil in both the
periods. Provision for tax was expense of Rs 367.9 crore, compared
to Rs 348.6 crore. Effective tax rate was 27.61% compared to 28.49%.
Minority interest decreased 30% to
Rs 2.10 crore. Net profit attributable to owners of the company
increased 10.40% to Rs 962.70 crore.
Promoters’ stake was 73.75% as of 31
December 2023 ,compared to 73.85% as of 31 December 2022 .
Full year results analysis.
Net sales (including other operating income) of LTIMindtree has increased 7.03%
to Rs 35517 crore. Sales of Banking Financial Services segment has
gone up 4.83% to Rs 12,840.60 crore (accounting for 36.15% of total sales). Sales
of Manufacturing segment has gone up 17.40% to Rs 6,587.50 crore (accounting
for 18.55% of total sales). Sales of High Tech Media &
Entertainment segment has gone up 4.12% to Rs 8,398.70 crore (accounting for
23.65% of total sales). Sales of CPG Retail Pharma segment has gone
up 4.77% to Rs 5,356.00 crore (accounting for 15.08% of total
sales). Sales of Health & Public Services segment has gone up
8.86% to Rs 2,334.20 crore (accounting for 6.57% of total sales).
Profit before interest, tax and
other unallocable items (PBIT) has jumped 4.58% to Rs 6,387.40
crore. PBIT of Banking Financial Services segment fell 0.61% to Rs
2,162.10 crore (accounting for 33.85% of total PBIT). PBIT of
Manufacturing segment rose 14.06% to Rs 1,015.40 crore (accounting for 15.90%
of total PBIT). PBIT of High Tech Media & Entertainment segment
rose 8.56% to Rs 1,870.30 crore (accounting for 29.28% of total
PBIT). PBIT of CPG Retail Pharma segment fell 0.04% to Rs 1,003.10
crore (accounting for 15.70% of total PBIT). PBIT of Health &
Public Services segment rose 6.55% to Rs 336.50 crore (accounting for 5.27% of
total PBIT).
PBIT margin of Banking Financial
Services segment fell from 17.76% to 16.84%. PBIT margin of
Manufacturing segment fell from 15.87% to 15.41%. PBIT margin of
High Tech Media & Entertainment segment rose from 21.36% to
22.27%. PBIT margin of CPG Retail Pharma segment fell from 19.63% to
18.73%. PBIT margin of Health & Public Services segment fell
from 14.73% to 14.42%. Overall PBIT margin fell from 18.41% to
17.98%.
Operating profit margin has declined
from 18.41% to 17.98%, leading to 4.58% rise in operating profit to Rs 6,387.40
crore. Employee cost increased from 62.92% to 64.00%.
Other expenses fell from 18.67% to 18.01%. Expenses
from contract fell from 8.52% to 7.21%.
Other income rose 26.04% to Rs 701.9
crore. PBIDT rose 6.37% to Rs 7089.3 crore. Provision for
interest rose 47.41% to Rs 221.7 crore. Loan funds rose to Rs
2,070.60 crore as of 31 March 2024 from Rs 1,541.20 crore as of 31 March
2023. Inventories declined from Rs 3.30 crore as of 31 March 2023 to
Rs 3.00 crore as of 31 March 2024. Sundry debtors were higher at Rs
5,706.00 crore as of 31 March 2024 compared to Rs 5,623.40 crore as of 31 March
2023. Cash and bank balance declined from Rs 2,932.00 crore as of 31
March 2023 to Rs 2,816.00 crore as of 31 March 2024. Investments
rose to Rs 8,743.60 crore as of 31 March 2024 from Rs 5,458.30 crore as of 31
March 2023 .
PBDT rose 5.43% to Rs 6867.6
crore. Provision for depreciation rose 13.31% to Rs 818.9
crore. Fixed assets increased to Rs 4,338.80 crore as of 31 March
2024 from Rs 3,392.20 crore as of 31 March 2023. Intangible assets
increased from Rs 1,189.20 crore to Rs 1,192.70 crore.
Profit before tax grew 4.44% to Rs
6,048.70 crore. Share of profit/loss were nil in both the
periods. Provision for tax was expense of Rs 1464.1 crore, compared
to Rs 1381.2 crore. Effective tax rate was 24.21% compared to
23.85%.
Minority interest increased 25% to
Rs 2.50 crore. Net profit attributable to owners of the company
increased 3.94% to Rs 4,582.10 crore.
Equity capital stood at Rs 29.60
crore as of 31 March 2024 to Rs 29.60 crore as of 31 March 2023. Per
share face Value remained same at Rs 1.00.
Promoters’ stake was 68.60% as of 31
March 2024 ,compared to 68.68% as of 31 March 2023 .
Cash flow from operating activities
increased to Rs 5,669.50 crore for year ended March 2024 from Rs 3,094.60 crore
for year ended March 2023. Cash flow used in acquiring fixed assets
during the year ended March 2024 stood at Rs 843.20 crore, compared to Rs
939.30 crore during the year ended March 2023.
Dividend: The Board of Directors at
its meeting held on April 24, 2024 has declared a final dividend of Rs 45/- per
equity share of par value Rs 1/- each.
Management
Comment:
Commenting on the performance of the
company Mr. Debashis Chatterjee, Chief Executive Officer and Managing Director,
LTIMindtree, said: “We closed FY24 amidst a tough macro environment and
delivered a resilient performance with full-year revenue growth of 4.4% in USD
terms and an EBIT margin of 15.7%. Our order inflow for the full year at USD
5.6 billion registered a 15.7% growth over FY23. This growth reflects the positive
outcomes of our positioning as an organization with scale, expanded
capabilities, and larger partnerships. As the market dynamics evolve, we are
excited to be part of innovations, partnerships, and initiatives that our
clients will embark on in FY 25
| LTIMindtree : Consolidated Results | | | Quarter ended | Year ended |
|---|
| Particulars | 202403 | 202303 | Var.(%) | 202403 | 202303 | Var.(%) |
|---|
| Net Sales (including other operating income) | 8,892.90 | 8,691.00 | 2.32 | 35,517.00 | 33,183.00 | 7.03 | | OPM (%) | 17.27 | 18.45 | -118 bps | 17.98 | 18.41 | -42 bps | | OP | 1,535.70 | 1,603.70 | -4.24 | 6,387.40 | 6,107.70 | 4.58 | | Other Inc. | 207.60 | 66.40 | 212.65 | 701.90 | 556.90 | 26.04 | | PBIDT | 1,743.30 | 1,670.10 | 4.38 | 7,089.30 | 6,664.60 | 6.37 | | Interest | 68.00 | 43.60 | 55.96 | 221.70 | 150.40 | 47.41 | | PBDT | 1,675.30 | 1,626.50 | 3.00 | 6,867.60 | 6,514.20 | 5.43 | | Depreciation | 227 | 182.3 | 24.52 | 818.9 | 722.7 | 13.31 | | PBT | 1,448.30 | 1,444.20 | 0.28 | 6048.7 | 5791.5 | 4.44 | | Share of Profit/(Loss) from Associates | 0 | 0 | - | 0 | 0 | - | | PBT before EO | 1448.3 | 1444.2 | 0.28 | 6048.7 | 5791.5 | 4.44 | | EO Income | 0 | 0 | - | 0 | 0 | - | | PBT after EO | 1448.3 | 1444.2 | 0.28 | 6048.7 | 5791.5 | 4.44 | | Taxation | 347.6 | 330.1 | 5.30 | 1464.1 | 1381.2 | 6.00 | | PAT | 1100.7 | 1114.1 | -1.20 | 4584.6 | 4410.3 | 3.95 | | Minority Interest (MI) | 0.8 | 0.4 | 100.00 | 2.5 | 2 | 25.00 | | Net profit | 1099.9 | 1113.7 | -1.24 | 4582.1 | 4408.3 | 3.94 | | P/(L) from discontinued operations net of tax | 0 | 0 | - | 0 | 0 | - | | Net profit after discontinued operations | 1099.9 | 1113.7 | -1.24 | 4582.1 | 4408.3 | 3.94 | | EPS (Rs)* | 37.14 | 37.60 | -1.24 | 154.72 | 148.85 | 3.94 | | | * EPS is on current equity of Rs 29.62 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) | 202403 | 202303 | Var.(%) | % of (Total) | 202403 | 202303 | Var.(%) |
|---|
| Sales | | Banking Financial Services | 35.10 | 3,121.80 | 3,299.20 | -5.38 | 36.15 | 12,840.60 | 12,249.40 | 4.83 | | Manufacturing | 18.59 | 1,653.40 | 1,523.10 | 8.55 | 18.55 | 6,587.50 | 5,611.00 | 17.40 | | Energy & Utilities | 0.00 | 0.00 | 0.00 | - | | High Tech Media & Entertainment | 24.32 | 2,162.80 | 1,998.80 | 8.20 | 23.65 | 8,398.70 | 8,066.10 | 4.12 | | CPG Retail Pharma | 15.10 | 1,342.70 | 1,334.60 | 0.61 | 15.08 | 5,356.00 | 5,112.30 | 4.77 | | Health & Public Services | 6.88 | 612.20 | 535.30 | 14.37 | 6.57 | 2,334.20 | 2,144.20 | 8.86 | | Total Reported Sales | 100.00 | 8,892.90 | 8,691.00 | 2.32 | 100.00 | 35,517.00 | 33,183.00 | 7.03 | | Less: Inter segment revenues | | 0.00 | 0.00 | - | | 0.00 | 0.00 | - | | Net Sales | 100.00 | 8,892.90 | 8,691.00 | 2.32 | 100.00 | 35,517.00 | 33,183.00 | 7.03 | | PBIT | | Banking Financial Services | 31.76 | 487.70 | 588.00 | -17.06 | 33.85 | 2,162.10 | 2,175.40 | -0.61 | | Manufacturing | 16.84 | 258.60 | 268.50 | -3.69 | 15.90 | 1,015.40 | 890.20 | 14.06 | | Energy & Utilities | 0.00 | 0.00 | 0.00 | - | | High Tech Media & Entertainment | 28.44 | 436.70 | 410.30 | 6.43 | 29.28 | 1,870.30 | 1,722.80 | 8.56 | | CPG Retail Pharma | 15.80 | 242.60 | 260.80 | -6.98 | 15.70 | 1,003.10 | 1,003.50 | -0.04 | | Health & Public Services | 7.17 | 110.10 | 76.10 | 44.68 | 5.27 | 336.50 | 315.80 | 6.55 | | Total PBIT | 100.00 | 1,535.70 | 1,603.70 | -4.24 | 100.00 | 6,387.40 | 6,107.70 | 4.58 | | Less : Interest | | 68.00 | 43.60 | 55.96 | | 221.70 | 150.40 | 47.41 | | Add: Other un-allcoable | | -19.40 | -115.90 | 83.26 | | -117.00 | -165.80 | 29.43 | | PBIT Margin(%) | | Banking Financial Services | | 15.62 | 17.82 | -220.01 | | 16.84 | 17.76 | -92.12 | | Manufacturing | | 15.64 | 17.63 | -198.80 | | 15.41 | 15.87 | -45.12 | | Energy & Utilities | | 0.00 | 0.00 | 0.00 | | High Tech Media & Entertainment | | 20.19 | 20.53 | -33.59 | | 22.27 | 21.36 | 91.04 | | CPG Retail Pharma | | 18.07 | 19.54 | -147.34 | | 18.73 | 19.63 | -90.06 | | Health & Public Services | | 17.98 | 14.22 | 376.80 | | 14.42 | 14.73 | -31.20 | | PBT | 100.00 | 1,448.30 | 1,444.20 | 0.28 | 100.00 | 6,048.70 | 5,791.50 | 4.44 |
|
|