On consolidated basis
Quarter ended September 2023
compared with Quarter ended June 2023.
Net sales (including other operating income) of LTIMindtree has increased 2.34%
to Rs 8905.4 crore.
Operating profit margin has declined
from 18.79% to 18.32%, leading to 0.26% decline in operating profit to Rs
1,631.30 crore. Employee cost decreased from 64.34% to 63.79%.
Other expenses rose from 16.87% to 17.89%. Expenses
from contract rose from 7.37% to 7.54%.
Other income rose 8.81% to Rs 143.2
crore. PBIDT rose 0.42% to Rs 1774.5 crore. Provision for
interest rose 2.17% to Rs 47 crore. Loan funds rose to Rs 1,742.10
crore as of 30 September 2023 from Rs 1,578.60 crore as of 30 June
2023. Inventories declined from Rs 3.90 crore as of 30 June 2023 to
Rs 3.50 crore as of 30 September 2023. Sundry debtors were higher at
Rs 6,634.60 crore as of 30 September 2023 compared to Rs 5,668.30 crore as of
30 June 2023. Cash and bank balance rose to Rs 2,216.80 crore as of
30 September 2023 from Rs 2,162.70 crore as of 30 June
2023. Investments declined from Rs 7,107.90 crore as of 30 June 2023
to Rs 6,765.90 crore as of 30 September 2023.
PBDT rose 0.37% to Rs 1727.5
crore. Provision for depreciation rose 12.72% to Rs 208.2
crore. Fixed assets increased to Rs 3,635.30 crore as of 30
September 2023 from Rs 3,083.80 crore as of 30 June 2023. Intangible
assets declined from Rs 1,530.60 crore to Rs 1,184.40 crore.
Profit before tax down 1.11% to Rs
1,519.30 crore. Share of profit/loss were nil in both the
periods. Provision for tax was expense of Rs 357 crore, compared to
Rs 384.1 crore. Effective tax rate was 23.50% compared to 25.00%.
Minority interest decreased 37.50%
to Rs 0.50 crore. Net profit attributable to owners of the company
increased 0.89% to Rs 1,161.80 crore.
Equity capital stood at Rs 29.60
crore as of 30 September 2023 to Rs 29.60 crore as of 30 June
2023. Per share face Value remained same at Rs 1.00.
Promoters’ stake was 68.66% as of 30
September 2023 ,compared to 68.66% as of 30 June 2023 .
Quarter ended September 2023
compared with Quarter ended September 2022.
Net sales (including other operating income) of LTIMindtree has increased 8.24%
to Rs 8905.4 crore. Sales of Banking Financial Services segment has
gone up 9.15% to Rs 3,251.70 crore (accounting for 36.51% of total
sales). Sales of Manufacturing segment has gone up 19.51% to Rs
1,594.80 crore (accounting for 17.91% of total sales). Sales of High
Tech Media & Entertainment segment has gone up 1.26% to Rs 2,114.30 crore
(accounting for 23.74% of total sales). Sales of CPG Retail Pharma
segment has gone up 7.63% to Rs 1,366.90 crore (accounting for 15.35% of total
sales). Sales of Health & Public Services segment has gone up
3.87% to Rs 577.70 crore (accounting for 6.49% of total sales).
Profit before interest, tax and
other unallocable items (PBIT) has slumped 0.26% to Rs 1,631.30
crore. PBIT of Banking Financial Services segment rose 1.51% to Rs
559.20 crore (accounting for 34.28% of total PBIT). PBIT of
Manufacturing segment rose 2.40% to Rs 243.10 crore (accounting for 14.90% of
total PBIT). PBIT of High Tech Media & Entertainment segment
rose 1.08% to Rs 503.10 crore (accounting for 30.84% of total
PBIT). PBIT of CPG Retail Pharma segment rose 6.20% to Rs 267.40
crore (accounting for 16.39% of total PBIT). PBIT of Health &
Public Services segment fell 40.18% to Rs 58.50 crore (accounting for 3.59% of
total PBIT).
PBIT margin of Banking Financial
Services segment fell from 18.49% to 17.20%. PBIT margin of
Manufacturing segment fell from 17.79% to 15.24%. PBIT margin of
High Tech Media & Entertainment segment fell from 23.84% to 23.80%. PBIT
margin of CPG Retail Pharma segment fell from 19.83% to 19.56%. PBIT
margin of Health & Public Services segment fell from 17.58% to
10.13%. Overall PBIT margin fell from 19.88% to 18.32%.
Operating profit margin has declined
from 19.88% to 18.32%, leading to 0.26% decline in operating profit to Rs
1,631.30 crore. Employee cost increased from 62.22% to 63.79%.
Other expenses fell from 17.90% to 17.89%. Expenses
from contract fell from 8.87% to 7.54%.
Other income fell 11.11% to Rs 143.2
crore. PBIDT fell 1.24% to Rs 1774.5 crore. Provision for
interest rose 24.34% to Rs 47 crore. Loan funds rose to Rs 1,742.10
crore as of 30 September 2023 from Rs 823.90 crore as of 30 September
2022. Sundry debtors were higher at Rs 6,634.60 crore as of 30
September 2023 compared to Rs 3,078.90 crore as of 30 September
2022. Cash and bank balance rose to Rs 2,216.80 crore as of 30
September 2023 from Rs 944.70 crore as of 30 September
2022. Investments rose to Rs 6,765.90 crore as of 30 September 2023
from Rs 2,921.30 crore as of 30 September 2022 .
PBDT fell 1.79% to Rs 1727.5
crore. Provision for depreciation rose 6.28% to Rs 208.2
crore. Fixed assets increased to Rs 3,635.30 crore as of 30
September 2023 from Rs 1,738.60 crore as of 30 September
2022. Intangible assets increased from Rs 976.50 crore to Rs
1,184.40 crore.
Profit before tax down 2.80% to Rs
1,519.30 crore. Share of profit/loss were nil in both the
periods. Provision for tax was expense of Rs 357 crore, compared to
Rs 374 crore. Effective tax rate was 23.50% compared to 23.93%.
Net profit attributable to owners of
the company decreased 2.25% to Rs 1,161.80 crore.
Equity capital increased from Rs
17.50 crore as of 30 September 2022 to Rs 29.60 crore as of 30 September
2023. Per share face Value remained same at Rs 1.00.
Promoters’ stake was 68.66% as of 30
September 2023 ,compared to 74.00% as of 30 September 2022 .
For year-to-date (YTD) results
analysis.
Net sales (including other operating income) of LTIMindtree has increased
10.93% to Rs 17607.5 crore. Sales of Banking Financial Services
segment has gone up 13.52% to Rs 6,512.10 crore (accounting for 36.98% of total
sales). Sales of Manufacturing segment has gone up 20.29% to Rs
3,100.50 crore (accounting for 17.61% of total sales). Sales of High
Tech Media & Entertainment segment has gone up 3.64% to Rs 4,175.40 crore
(accounting for 23.71% of total sales). Sales of CPG Retail Pharma
segment has gone up 8.77% to Rs 2,685.00 crore (accounting for 15.25% of total
sales). Sales of Health & Public Services segment has gone up
6.94% to Rs 1,134.50 crore (accounting for 6.44% of total sales).
Profit before interest, tax and
other unallocable items (PBIT) has jumped 4.40% to Rs 3,266.80
crore. PBIT of Banking Financial Services segment rose 7.39% to Rs
1,127.90 crore (accounting for 34.53% of total PBIT). PBIT of
Manufacturing segment rose 13.12% to Rs 508.60 crore (accounting for 15.57% of
total PBIT). PBIT of High Tech Media & Entertainment segment
rose 3.32% to Rs 983.90 crore (accounting for 30.12% of total
PBIT). PBIT of CPG Retail Pharma segment rose 6.26% to Rs 514.70
crore (accounting for 15.76% of total PBIT). PBIT of Health &
Public Services segment fell 31.62% to Rs 131.70 crore (accounting for 4.03% of
total PBIT).
PBIT margin of Banking Financial
Services segment fell from 18.31% to 17.32%. PBIT margin of
Manufacturing segment fell from 17.44% to 16.40%. PBIT margin of
High Tech Media & Entertainment segment fell from 23.64% to
23.56%. PBIT margin of CPG Retail Pharma segment fell from 19.62% to
19.17%. PBIT margin of Health & Public Services segment fell
from 18.15% to 11.61%. Overall PBIT margin fell from 19.72% to
18.55%.
Operating profit margin has declined
from 19.72% to 18.55%, leading to 4.40% rise in operating profit to Rs 3,266.80
crore. Employee cost increased from 61.91% to 64.06%.
Other expenses fell from 18.37% to 17.39%. Expenses
from contract fell from 8.85% to 7.46%.
Other income fell 18.87% to Rs 274.8
crore. PBIDT rose 2.13% to Rs 3541.6 crore. Provision for
interest rose 34.98% to Rs 93 crore. Loan funds rose to Rs 1,742.10
crore as of 30 September 2023 from Rs 823.90 crore as of 30 September
2022. Sundry debtors were higher at Rs 6,634.60 crore as of 30
September 2023 compared to Rs 3,078.90 crore as of 30 September
2022. Cash and bank balance rose to Rs 2,216.80 crore as of 30
September 2023 from Rs 944.70 crore as of 30 September
2022. Investments rose to Rs 6,765.90 crore as of 30 September 2023
from Rs 2,921.30 crore as of 30 September 2022 .
PBDT rose 1.46% to Rs 3448.6
crore. Provision for depreciation rose 8.45% to Rs 392.9
crore. Fixed assets increased to Rs 3,635.30 crore as of 30
September 2023 from Rs 1,738.60 crore as of 30 September
2022. Intangible assets increased from Rs 976.50 crore to Rs
1,184.40 crore.
Profit before tax grew 0.63% to Rs
3,055.70 crore. Share of profit/loss were nil in both the
periods. Provision for tax was expense of Rs 741.1 crore, compared
to Rs 741.2 crore. Effective tax rate was 24.25% compared to 24.41%.
Minority interest decreased 7.14% to
Rs 1.30 crore. Net profit attributable to owners of the company
increased 0.84% to Rs 2,313.30 crore.
Equity capital increased from Rs
17.50 crore as of 30 September 2022 to Rs 29.60 crore as of 30 September 2023. Per
share face Value remained same at Rs 1.00.
Promoters’ stake was 68.66% as of 30
September 2023 ,compared to 74.00% as of 30 September 2022 .
Cash flow from operating activities
increased to Rs 2,104.90 crore for YTD ended September 2023 from Rs 1,450.20
crore for YTD ended September 2022. Cash flow used in acquiring
fixed assets during the YTD ended September 2023 stood at Rs 399.30 crore,
compared to Rs 515.40 crore during the YTD ended September 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 3,392.20 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 1,189.20 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.
Dividend:
The board has declared and 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: “Our results in the second quarter were
highlighted by strong revenue growth of 5.2% YoY, in USD terms, along with a
healthy operating margin of 16% despite wage hikes across the organization.
This all-round performance, in a challenging business environment, demonstrates
the strength of our capabilities and disciplined execution.
Our robust order inflow at USD
1.3 billion, representing a 20% increase YoY, and growth across our client
bands speaks to the strength of our client relationships, robust delivery and
our ability to address the priorities of our clients across their efficiency
and transformation mandates.”
| LTIMindtree : Consolidated Results | | | Quarter ended | Year to Date | Year ended |
|---|
| Particulars | 202309 | 202209 | Var.(%) | 202309 | 202209 | Var.(%) | 202303 | 202203 | Var.(%) |
|---|
| Net Sales (including other operating income) | 8,905.40 | 8,227.80 | 8.24 | 17,607.50 | 15,872.00 | 10.93 | 33,183.00 | 15,668.70 | 111.78 | | OPM (%) | 18.32 | 19.88 | -156 bps | 18.55 | 19.72 | -116 bps | 18.41 | 19.52 | -111 bps | | OP | 1,631.30 | 1,635.60 | -0.26 | 3,266.80 | 3,129.20 | 4.40 | 6,107.70 | 3,058.40 | 99.70 | | Other Inc. | 143.20 | 161.10 | -11.11 | 274.80 | 338.70 | -18.87 | 556.90 | 466.70 | 19.33 | | PBIDT | 1,774.50 | 1,796.70 | -1.24 | 3,541.60 | 3,467.90 | 2.13 | 6,664.60 | 3,525.10 | 89.06 | | Interest | 47.00 | 37.80 | 24.34 | 93.00 | 68.90 | 34.98 | 150.40 | 72.80 | 106.59 | | PBDT | 1,727.50 | 1,758.90 | -1.79 | 3,448.60 | 3,399.00 | 1.46 | 6,514.20 | 3,452.30 | 88.69 | | Depreciation | 208.2 | 195.9 | 6.28 | 392.9 | 362.3 | 8.45 | 722.7 | 354.9 | 103.63 | | PBT | 1,519.30 | 1,563.00 | -2.80 | 3055.7 | 3036.7 | 0.63 | 5791.5 | 3097.4 | 86.98 | | Share of Profit/(Loss) from Associates | 0 | 0 | - | 0 | 0 | - | 0 | 0 | - | | PBT before EO | 1519.3 | 1563 | -2.80 | 3055.7 | 3036.7 | 0.63 | 5791.5 | 3097.4 | 86.98 | | EO Income | 0 | 0 | - | 0 | 0 | - | 0 | 0 | - | | PBT after EO | 1519.3 | 1563 | -2.80 | 3055.7 | 3036.7 | 0.63 | 5791.5 | 3097.4 | 86.98 | | Taxation | 357 | 374 | -4.55 | 741.1 | 741.2 | -0.01 | 1381.2 | 798.9 | 72.89 | | PAT | 1162.3 | 1189 | -2.25 | 2314.6 | 2295.5 | 0.83 | 4410.3 | 2298.5 | 91.88 | | Minority Interest (MI) | 0.5 | 0.5 | 0 | 1.3 | 1.4 | -7.14 | 2 | 1.7 | 17.65 | | Net profit | 1161.8 | 1188.5 | -2.25 | 2313.3 | 2294.1 | 0.84 | 4408.3 | 2296.8 | 91.93 | | P/(L) from discontinued operations net of tax | 0 | 0 | - | 0 | 0 | - | 0 | 0 | - | | Net profit after discontinued operations | 1161.8 | 1188.5 | -2.25 | 2313.3 | 2294.1 | 0.84 | 4408.3 | 2296.8 | 91.93 | | EPS (Rs)* | 39.26 | 40.16 | -2.25 | 78.18 | 77.53 | 0.84 | 148.98 | 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 | td>-| | Quarter ended | Year to Date | Year ended |
|---|
| % of (Total) | 202309 | 202209 | Var.(%) | % of (Total) | 202309 | 202209 | Var.(%) | % of (Total) | 202303 | 202203 | Var.(%) |
|---|
| Sales | | Banking Financial Services | 36.51 | 3,251.70 | 2,979.10 | 9.15 | 36.98 | 6,512.10 | 5,736.30 | 13.52 | 36.91 | 12,249.40 | 9,187.30 | 33.33 | | Manufacturing | 17.91 | 1,594.80 | 1,334.50 | 19.51 | 17.61 | 3,100.50 | 2,577.60 | 20.29 | 16.91 | 5,611.00 | 4,610.60 | 21.70 | | Energy & Utilities | 0.00 | 0.00 | 0.00 | - | | High Tech Media & Entertainment | 23.74 | 2,114.30 | 2,088.00 | 1.26 | 23.71 | 4,175.40 | 4,028.60 | 3.64 | 24.31 | 8,066.10 | 6,494.20 | 24.20 | | CPG Retail Pharma | 15.35 | 1,366.90 | 1,270.00 | 7.63 | 15.25 | 2,685.00 | 2,468.60 | 8.77 | 15.41 | 5,112.30 | 4,108.50 | 24.43 | | Health & Public Services | 6.49 | 577.70 | 556.20 | 3.87 | 6.44 | 1,134.50 | 1,060.90 | 6.94 | 6.46 | 2,144.20 | 1,708.10 | 25.53 | | Total Reported Sales | 100.00 | 8,905.40 | 8,227.80 | 8.24 | 100.00 | 17,607.50 | 15,872.00 | 10.93 | 100.00 | 33,183.00 | 26,108.70 | 27.10 | | Less: Inter segment revenues | | 0.00 | 0.00 | - | | 0.00 | 0.00 | | 0.00 | 0.00 | - | | Net Sales | 100.00 | 8,905.40 | 8,227.80 | 8.24 | 100.00 | 17,607.50 | 15,872.00 | 10.93 | 100.00 | 33,183.00 | 26,108.70 | 27.10 | | PBIT | | Banking Financial Services | 34.28 | 559.20 | 550.90 | 1.51 | 34.53 | 1,127.90 | 1,050.30 | 7.39 | 35.62 | 2,175.40 | 1,815.70 | 19.81 | | Manufacturing | 14.90 | 243.10 | 237.40 | 2.40 | 15.57 | 508.60 | 449.60 | 13.12 | 14.58 | 890.20 | 923.30 | -3.58 | | Energy & Utilities | 0.00 | 0.00 | 0.00 | - | | High Tech Media & Entertainment | 30.84 | 503.10 | 497.70 | 1.08 | 30.12 | 983.90 | 952.30 | 3.32 | 28.21 | 1,722.80 | 1,468.60 | 17.31 | | CPG Retail Pharma | 16.39 | 267.40 | 251.80 | 6.20 | 15.76 | 514.70 | 484.40 | 6.26 | 16.43 | 1,003.50 | 761.60 | 31.76 | | Health & Public Services | 3.59 | 58.50 | 97.80 | -40.18 | 4.03 | 131.70 | 192.60 | -31.62 | 5.17 | 315.80 | 279.40 | 13.03 | | Total PBIT | 100.00 | 1,631.30 | 1,635.60 | -0.26 | 100.00 | 3,266.80 | 3,129.20 | 4.40 | 100.00 | 6,107.70 | 5,248.60 | 16.37 | | Less : Interest | | 47.00 | 37.80 | 24.34 | | 93.00 | 68.90 | 34.98 | | 150.40 | 123.40 | 21.88 | | Add: Other un-allcoable | | -65.00 | -34.80 | -86.78 | | -118.10 | -23.60 | -400.42 | | -165.80 | 168.70 | PL | | PBIT Margin(%) | | Banking Financial Services | | 17.20 | 18.49 | -129.50 | | 17.32 | 18.31 | -98.96 | | 17.76 | 19.76 | -200.39 | | Manufacturing | | 15.24 | 17.79 | -254.61 | | 16.40 | 17.44 | -103.88 | | 15.87 | 20.03 | -416.03 | | Energy & Utilities | | 0.00 | 0.00 | 0.00 | | High Tech Media & Entertainment | | 23.80 | 23.84 | -4.11 | | 23.56 | 23.64 | -7.43 | | 21.36 | 22.61 | -125.55 | | CPG Retail Pharma | | 19.56 | 19.83 | -26.43 | | 19.17 | 19.62 | -45.30 | | 19.63 | 18.54 | 109.20 | | Health & Public Services | | 10.13 | 17.58 | -745.72 | | 11.61 | 18.15 | -654.58 | | 14.73 | 16.36 | -162.93 | | PBT | 100.00 | 1,519.30 | 1,563.00 | -2.80 | 100.00 | 3,055.70 | 3,036.70 | 0.63 | 100.00 | 5,791.50 | 5,293.90 | 9.40 |
|
|