On consolidated basis
Larsen and Toubro Infotech for the quarter ended Mar 2022 registered
a consolidated sales of Rs 4301.6 crore, a growth of 4.0% QoQ and 31.6% yoy
basis. On USD terms the revenue for the quarter was up by 3.1%QoQ basis and 27.5%
YoY basis. Eventually the net profit (after MI) was Rs 637.5 crore, up 4.1% QoQ
basis and a growth of 16.8% YoY basis.
Quarter ended March 2022 compared
with Quarter ended December 2021.
Net sales (including other operating income) of Larsen & Toubro Infotech
has increased 3.96% to Rs 4301.6 crore.
Operating profit margin has declined
from 20.09% to 19.68%, leading to 1.84% rise in operating profit to Rs 846.40
crore. Employee cost decreased from 60.82% to 60.60%.
Other expenses rose from 19.10% to 19.72%. Other direct
service cost rose from 17.70% to 18.17%.
Other income rose 34.13% to Rs 134
crore. PBIDT rose 5.31% to Rs 961.5 crore. Provision for
interest rose 0.53% to Rs 18.9 crore. Loan funds remained
nil.
PBDT rose 5.40% to Rs 961.5
crore. Provision for depreciation rose 15.14% to Rs 101.9 crore.
Profit before tax grew 4.36% to Rs
859.60 crore. Share of profit/loss were nil in both the
periods. Provision for tax was expense of Rs 222.1 crore, compared
to Rs 211.2 crore. Effective tax rate was 25.84% compared to 25.64%.
Net profit attributable to owners of
the company increased 4.08% to Rs 637.00 crore.
Promoters’ stake was 74.05% as of 31
March 2022 ,compared to 74.07% as of 31 December 2021 .
Quarter ended March 2022 compared
with Quarter ended March 2021.
Net sales (including other operating income) of Larsen & Toubro Infotech
has increased 31.57% to Rs 4301.6 crore.
Operating profit margin has declined
from 21.88% to 19.68%, leading to 18.29% rise in operating profit to Rs 846.40
crore. Employee cost decreased from 60.73% to 60.60%.
Other expenses rose from 17.39% to 19.72%. Other direct
service cost rose from 15.95% to 18.17%.
Other income rose 30.10% to Rs 134
crore. PBIDT rose 19.78% to Rs 980.4 crore. Provision for
interest fell 1.05% to Rs 18.9 crore. Loan funds rose to Rs 835.50
crore as of 31 March 2022 from Rs 798.30 crore as of 31 March
2021. Sundry debtors were higher at Rs 2,833.50 crore as of 31 March
2022 compared to Rs 2,083.50 crore as of 31 March 2021. Cash and
bank balance rose to Rs 777.30 crore as of 31 March 2022 from Rs 759.40 crore
as of 31 March 2021. Investments declined from Rs 3,729.50 crore as
of 31 March 2021 to Rs 3,482.00 crore as of 31 March 2022.
PBDT rose 20.28% to Rs 961.5
crore. Provision for depreciation rose 23.37% to Rs 101.9
crore. Fixed assets increased to Rs 1,889.00 crore as of 31 March
2022 from Rs 1,314.80 crore as of 31 March 2021. Intangible assets
increased from Rs 657.40 crore to Rs 690.00 crore.
Profit before tax grew 19.92% to Rs
859.60 crore. Share of profit/loss were nil in both the
periods. Provision for tax was expense of Rs 222.1 crore, compared
to Rs 171.1 crore. Effective tax rate was 25.84% compared to 23.87%.
Net profit attributable to owners of
the company increased 16.84% to Rs 637.00 crore.
Equity capital stood at Rs 17.50
crore as of 31 March 2022 to Rs 17.50 crore as of 31 March 2021. Per
share face Value remained same at Rs 1.00.
Promoters’ stake was 74.05% as of 31
March 2022 ,compared to 74.27% as of 31 March 2021 .
Full year results analysis.
Net sales (including other operating income) of Larsen & Toubro Infotech
has increased 26.67% to Rs 15668.7 crore.
Operating profit margin has declined
from 22.03% to 19.52%, leading to 12.23% rise in operating profit to Rs
3,058.40 crore. Employee cost increased from 60.06% to 61.91%.
Other expenses rose from 17.91% to 18.57%. Other direct
service cost rose from 16.33% to 16.95%.
Other income rose 70.08% to Rs 466.7
crore. PBIDT rose 17.52% to Rs 3525.1 crore. Provision
for interest fell 7.61% to Rs 72.8 crore. Loan funds rose to Rs
835.50 crore as of 31 March 2022 from Rs 798.30 crore as of 31 March
2021. Sundry debtors were higher at Rs 2,833.50 crore as of 31 March
2022 compared to Rs 2,083.50 crore as of 31 March 2021. Cash and
bank balance rose to Rs 777.30 crore as of 31 March 2022 from Rs 759.40 crore
as of 31 March 2021. Investments declined from Rs 3,729.50 crore as
of 31 March 2021 to Rs 3,482.00 crore as of 31 March 2022.
PBDT rose 18.20% to Rs 3452.3
crore. Provision for depreciation rose 6.74% to Rs 354.9
crore. Fixed assets increased to Rs 1,889.00 crore as of 31 March
2022 from Rs 1,314.80 crore as of 31 March 2021. Intangible assets
increased from Rs 657.40 crore to Rs 690.00 crore.
Profit before tax grew 19.67% to Rs
3,097.40 crore. Share of profit/loss were nil in both the
periods. Provision for tax was expense of Rs 798.9 crore, compared
to Rs 650 crore. Effective tax rate was 25.79% compared to 25.11%.
Minority interest decreased 19.05%
to Rs 1.70 crore. Net profit attributable to owners of the company
increased 18.63% to Rs 2,296.80 crore.
Equity capital stood at Rs 17.50
crore as of 31 March 2022 to Rs 17.50 crore as of 31 March 2021. Per
share face Value remained same at Rs 1.00.
Promoters’ stake was 74.05% as of 31
March 2022 ,compared to 74.27% as of 31 March 2021 .
Cash flow from operating activities
decreased to Rs 1,652.00 crore for year ended March 2022 from Rs 2,399.60 crore
for year ended March 2021. Cash flow used in acquiring fixed assets
during the year ended March 2022 stood at Rs 859.00 crore, compared to Rs
271.90 crore during the year ended March 2021.
Dividend: The
board has recommended final dividend of Rs 30 per equity share.
Management Comment:
Commenting
on the performance Mr Sanjay Jalona, Chief Executive Officer & Managing
Director said “We are delighted to cross USD
2 billion revenue milestone with record growth of 26% in FY22, our strongest
since listing. Our growth has been broad-based across verticals, service lines,
client buckets and geographies. The year has seen the highest new client
openings and net headcount additions.
In Q4FY22, we won 4 large deals with new TCV of
over USD 80 million. Our deal pipeline continues to be robust, and we remain
confident of maintaining industry leading growth in the coming year as well."
| Larsen & Toubro Infotech : Consolidated Results | | | Quarter ended | Year ended |
|---|
| Particulars | 202203 | 202103 | Var.(%) | 202203 | 202103 | Var.(%) |
|---|
| Net Sales (including other operating income) | 4,301.60 | 3,269.40 | 31.57 | 15,668.70 | 12,369.80 | 26.67 | | OPM (%) | 19.68 | 21.88 | -221 bps | 19.52 | 22.03 | -251 bps | | OP | 846.40 | 715.50 | 18.29 | 3,058.40 | 2,725.10 | 12.23 | | Other Inc. | 134.00 | 103.00 | 30.10 | 466.70 | 274.40 | 70.08 | | PBIDT | 980.40 | 818.50 | 19.78 | 3,525.10 | 2,999.50 | 17.52 | | Interest | 18.90 | 19.10 | -1.05 | 72.80 | 78.80 | -7.61 | | PBDT | 961.50 | 799.40 | 20.28 | 3,452.30 | 2,920.70 | 18.20 | | Depreciation | 101.9 | 82.6 | 23.37 | 354.9 | 332.5 | 6.74 | | PBT | 859.60 | 716.80 | 19.92 | 3097.4 | 2588.2 | 19.67 | | Share of Profit/(Loss) from Associates | 0 | 0 | - | 0 | 0 | - | | PBT before EO | 859.6 | 716.8 | 19.92 | 3097.4 | 2588.2 | 19.67 | | EO Income | 0 | 0 | - | 0 | 0 | - | | PBT after EO | 859.6 | 716.8 | 19.92 | 3097.4 | 2588.2 | 19.67 | | Taxation | 222.1 | 171.1 | 29.81 | 798.9 | 650 | 22.91 | | PAT | 637.5 | 545.7 | 16.82 | 2298.5 | 1938.2 | 18.59 | | Minority Interest (MI) | 0.5 | 0.5 | 0 | 1.7 | 2.1 | -19.05 | | Net profit | 637 | 545.2 | 16.84 | 2296.8 | 1936.1 | 18.63 | | P/(L) from discontinued operations net of tax | 0 | 0 | - | 0 | 0 | - | | Net profit after discontinued operations | 637 | 545.2 | 16.84 | 2296.8 | 1936.1 | 18.63 | | EPS (Rs)* | 36.34 | 31.10 | 16.84 | 131.02 | 110.44 | 18.63 | | | * EPS is on current equity of Rs 17.53 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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