On consolidated basis
Quarter ended December 2023 compared
with Quarter ended September 2023.
Net sales (including other operating income) of LTIMindtree has increased 1.25%
to Rs 9016.6 crore.
Operating profit margin has declined
from 18.32% to 17.58%, leading to 2.84% decline in operating profit to Rs
1,584.90 crore. Employee cost decreased from 63.79% to 62.47%.
Other expenses rose from 17.89% to 19.95%. Expenses
from contract fell from 7.54% to 7.23%.
Other income rose 53.28% to Rs 219.5
crore. PBIDT rose 1.68% to Rs 1804.4 crore. Provision for
interest rose 29.15% to Rs 60.7 crore.
PBDT rose 0.94% to Rs 1743.7
crore. Provision for depreciation fell 4.42% to Rs 199
crore.
Profit before tax grew 1.67% to Rs
1,544.70 crore. Share of profit/loss were nil in both the
periods. Provision for tax was expense of Rs 375.4 crore, compared
to Rs 357 crore. Effective tax rate was 24.30% compared to 23.50%.
Minority interest decreased 20% to
Rs 0.40 crore. Net profit attributable to owners of the company
increased 0.61% to Rs 1,168.90 crore.
Promoters’ stake was 68.66% as of 31
December 2023 ,compared to 68.66% as of 30 September 2023 .
Quarter ended December 2023 compared
with Quarter ended December 2022.
Net sales (including other operating income) of LTIMindtree has increased 4.60%
to Rs 9016.6 crore. Sales of Banking Financial Services segment has
gone down 0.22% to Rs 3,206.70 crore (accounting for 35.56% of total
sales). Sales of Manufacturing segment has gone up 21.41% to Rs
1,833.60 crore (accounting for 20.34% of total sales). Sales of High
Tech Media & Entertainment segment has gone up 1.07% to Rs 2,060.50 crore
(accounting for 22.85% of total sales). Sales of CPG Retail Pharma
segment has gone up 1.47% to Rs 1,328.30 crore (accounting for 14.73% of total
sales). Sales of Health & Public Services segment has gone up
7.21% to Rs 587.50 crore (accounting for 6.52% of total sales).
Profit before interest, tax and
other unallocable items (PBIT) has jumped 15.28% to Rs 1,584.90
crore. PBIT of Banking Financial Services segment rose 1.75% to Rs
546.50 crore (accounting for 34.48% of total PBIT). PBIT of
Manufacturing segment rose 44.22% to Rs 248.20 crore (accounting for 15.66% of
total PBIT). PBIT of High Tech Media & Entertainment segment
rose 24.81% to Rs 449.70 crore (accounting for 28.37% of total
PBIT). PBIT of CPG Retail Pharma segment fell 4.77% to Rs 245.80
crore (accounting for 15.51% of total PBIT). PBIT of Health &
Public Services segment rose 100.64% to Rs 94.70 crore (accounting for 5.98% of
total PBIT).
PBIT margin of Banking Financial
Services segment rose from 16.71% to 17.04%. PBIT margin of
Manufacturing segment rose from 11.40% to 13.54%. PBIT margin of
High Tech Media & Entertainment segment rose from 17.67% to 21.82%. PBIT
margin of CPG Retail Pharma segment fell from 19.72% to 18.50%. PBIT
margin of Health & Public Services segment rose from 8.61% to
16.12%. Overall PBIT margin rose from 15.95% to 17.58%.
Operating profit margin has jumped
from 15.95% to 17.58%, leading to 15.28% rise in operating profit to Rs
1,584.90 crore. Employee cost decreased from 63.48% to 62.47%.
Other expenses fell from 20.57% to 19.95%. Expenses
from contract fell from 8.75% to 7.23%.
Other income rose 44.60% to Rs 219.5
crore. PBIDT rose 18.20% to Rs 1804.4 crore. Provision
for interest rose 60.16% to Rs 60.7 crore.
PBDT rose 17.13% to Rs 1743.7
crore. Provision for depreciation rose 11.73% to Rs 199
crore.
Profit before tax grew 17.86% to Rs
1,544.70 crore. Share of profit/loss were nil in both the
periods. Provision for tax was expense of Rs 375.4 crore, compared
to Rs 309.9 crore. Effective tax rate was 24.30% compared to 23.65%.
Minority interest increased 100% to
Rs 0.40 crore. Net profit attributable to owners of the company
increased 16.83% to Rs 1,168.90 crore.
Promoters’ stake was 68.66% as of 31
December 2023 ,compared to 68.69% as of 31 December 2022 .
Year-to-date (YTD) results analysis.
Net sales (including other operating income) of LTIMindtree has increased 8.71%
to Rs 26624.1 crore. Sales of Banking Financial Services segment has
gone up 8.94% to Rs 9,718.80 crore (accounting for 36.50% of total
sales). Sales of Manufacturing segment has gone up 20.71% to Rs
4,934.10 crore (accounting for 18.53% of total sales). Sales of High
Tech Media & Entertainment segment has gone up 2.20% to Rs 6,235.90 crore
(accounting for 23.42% of total sales). Sales of CPG Retail Pharma
segment has gone up 6.24% to Rs 4,013.30 crore (accounting for 15.07% of total
sales). Sales of Health & Public Services segment has gone up
7.33% to Rs 1,722.00 crore (accounting for 6.47% of total sales).
Profit before interest, tax and
other unallocable items (PBIT) has jumped 4.75% to Rs 4,851.70
crore. PBIT of Banking Financial Services segment rose 2.76% to Rs
1,674.40 crore (accounting for 34.51% of total PBIT). PBIT of
Manufacturing segment rose 16.61% to Rs 756.80 crore (accounting for 15.60% of
total PBIT). PBIT of High Tech Media & Entertainment segment
rose 6.49% to Rs 1,433.60 crore (accounting for 29.55% of total
PBIT). PBIT of CPG Retail Pharma segment fell 0.04% to Rs 760.50
crore (accounting for 15.67% of total PBIT). PBIT of Health &
Public Services segment fell 8.00% to Rs 226.40 crore (accounting for 4.67% of
total PBIT).
PBIT margin of Banking Financial
Services segment fell from 18.27% to 17.23%. PBIT margin of
Manufacturing segment fell from 15.88% to 15.34%. PBIT margin of
High Tech Media & Entertainment segment rose from 22.06% to 22.99%. PBIT
margin of CPG Retail Pharma segment fell from 20.14% to 18.95%. PBIT
margin of Health & Public Services segment fell from 15.34% to
13.15%. Overall PBIT margin fell from 18.91% to 18.22%.
Operating profit margin has declined
from 18.39% to 18.22%, leading to 7.72% rise in operating profit to Rs 4,851.70
crore. Employee cost increased from 62.47% to 63.52%.
Other expenses fell from 19.14% to 18.25%. Expenses
from contract fell from 8.81% to 7.38%.
Other income rose 0.77% to Rs 494.3
crore. PBIDT rose 7.04% to Rs 5346 crore. Provision for
interest rose 43.91% to Rs 153.7 crore.
PBDT rose 6.23% to Rs 5192.3
crore. Provision for depreciation rose 9.53% to Rs 591.9
crore.
Profit before tax grew 5.82% to Rs
4,600.40 crore. Share of profit/loss were nil in both the
periods. Provision for tax was expense of Rs 1116.5 crore, compared
to Rs 1051.1 crore. Effective tax rate was 24.27% compared to
24.18%.
Minority interest increased 6.25% to
Rs 1.70 crore. Net profit attributable to owners of the company
increased 5.69% to Rs 3,482.20 crore.
Promoters’ stake was 68.66% as of 31
December 2023 ,compared to 68.69% as of 31 December 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.
Management Comment:
Commenting on the performance Mr
Debashis Chatterjee CEO and MD said: “Our strong operational performance in a
seasonally weak quarter speaks about the organization’s resilience amid the
continuing macro challenges. For the quarter, we reported a revenue of USD 1.08
billion, a 3.5% YoY growth in USD terms, an EBIT margin of 15.4%, an increase of
150 bps YoY, and a PAT margin of 13%, an increase of 140 bps YoY.
We have booked our highest-ever
order inflow at USD 1.5 billion, representing a 21% increase YoY, and our
strong cash flow metrics helped us cross INR 10,000 crore in cash and
investment balance. These strong indicators make us confident to deliver on our
path to success as we enter the new year.”
| LTIMindtree : Consolidated Results | | | Quarter ended | Year to Date | Year ended |
|---|
| Particulars | 202312 | 202212 | Var.(%) | 202312 | 202212 | Var.(%) | 202303 | 202203 | Var.(%) |
|---|
| Net Sales (including other operating income) | 9,016.60 | 8,620.00 | 4.60 | 26,624.10 | 24,492.00 | 8.71 | 33,183.00 | 15,668.70 | 111.78 | | OPM (%) | 17.58 | 15.95 | 163 bps | 18.22 | 18.39 | -17 bps | 18.41 | 19.52 | -111 bps | | OP | 1,584.90 | 1,374.80 | 15.28 | 4,851.70 | 4,504.00 | 7.72 | 6,107.70 | 3,058.40 | 99.70 | | Other Inc. | 219.50 | 151.80 | 44.60 | 494.30 | 490.50 | 0.77 | 556.90 | 466.70 | 19.33 | | PBIDT | 1,804.40 | 1,526.60 | 18.20 | 5,346.00 | 4,994.50 | 7.04 | 6,664.60 | 3,525.10 | 89.06 | | Interest | 60.70 | 37.90 | 60.16 | 153.70 | 106.80 | 43.91 | 150.40 | 72.80 | 106.59 | | PBDT | 1,743.70 | 1,488.70 | 17.13 | 5,192.30 | 4,887.70 | 6.23 | 6,514.20 | 3,452.30 | 88.69 | | Depreciation | 199 | 178.1 | 11.73 | 591.9 | 540.4 | 9.53 | 722.7 | 354.9 | 103.63 | | PBT | 1,544.70 | 1,310.60 | 17.86 | 4600.4 | 4347.3 | 5.82 | 5791.5 | 3097.4 | 86.98 | | Share of Profit/(Loss) from Associates | 0 | 0 | - | 0 | 0 | - | 0 | 0 | - | | PBT before EO | 1544.7 | 1310.6 | 17.86 | 4600.4 | 4347.3 | 5.82 | 5791.5 | 3097.4 | 86.98 | | EO Income | 0 | 0 | - | 0 | 0 | - | 0 | 0 | - | | PBT after EO | 1544.7 | 1310.6 | 17.86 | 4600.4 | 4347.3 | 5.82 | 5791.5 | 3097.4 | 86.98 | | Taxation | 375.4 | 309.9 | 21.14 | 1116.5 | 1051.1 | 6.22 | 1381.2 | 798.9 | 72.89 | | PAT | 1169.3 | 1000.7 | 16.85 | 3483.9 | 3296.2 | 5.69 | 4410.3 | 2298.5 | 91.88 | | Minority Interest (MI) | 0.4 | 0.2 | 100.00 | 1.7 | 1.6 | 6.25 | 2 | 1.7 | 17.65 | | Net profit | 1168.9 | 1000.5 | 16.83 | 3482.2 | 3294.6 | 5.69 | 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 | 1168.9 | 1000.5 | 16.83 | 3482.2 | 3294.6 | 5.69 | 4408.3 | 2296.8 | 91.93 | | EPS (Rs)* | 39.47 | 33.78 | 16.83 | 117.58 | 111.24 | 5.69 | 148.85 | 77.55 | 91.93 | | | * 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 | td>-| | Quarter ended | Year to Date | Year ended |
|---|
| % of (Total) | 202312 | 202212 | Var.(%) | % of (Total) | 202312 | 202212 | Var.(%) | % of (Total) | 202303 | 202203 | Var.(%) |
|---|
| Sales | | Banking Financial Services | 35.56 | 3,206.70 | 3,213.90 | -0.22 | 36.50 | 9,718.80 | 8,920.90 | 8.94 | 36.91 | 12,249.40 | 9,187.30 | 33.33 | | Manufacturing | 20.34 | 1,833.60 | 1,510.30 | 21.41 | 18.53 | 4,934.10 | 4,087.40 | 20.71 | 16.91 | 5,611.00 | 4,610.60 | 21.70 | | Energy & Utilities | 0.00 | 0.00 | 0.00 | - | | High Tech Media & Entertainment | 22.85 | 2,060.50 | 2,038.70 | 1.07 | 23.42 | 6,235.90 | 6,101.60 | 2.20 | 24.31 | 8,066.10 | 6,494.20 | 24.20 | | CPG Retail Pharma | 14.73 | 1,328.30 | 1,309.10 | 1.47 | 15.07 | 4,013.30 | 3,777.70 | 6.24 | 15.41 | 5,112.30 | 4,108.50 | 24.43 | | Health & Public Services | 6.52 | 587.50 | 548.00 | 7.21 | 6.47 | 1,722.00 | 1,604.40 | 7.33 | 6.46 | 2,144.20 | 1,708.10 | 25.53 | | Total Reported Sales | 100.00 | 9,016.60 | 8,620.00 | 4.60 | 100.00 | 26,624.10 | 24,492.00 | 8.71 | 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 | 9,016.60 | 8,620.00 | 4.60 | 100.00 | 26,624.10 | 24,492.00 | 8.71 | 100.00 | 33,183.00 | 26,108.70 | 27.10 | | PBIT | | Banking Financial Services | 34.48 | 546.50 | 537.10 | 1.75 | 34.51 | 1,674.40 | 1,629.50 | 2.76 | 35.62 | 2,175.40 | 1,815.70 | 19.81 | | Manufacturing | 15.66 | 248.20 | 172.10 | 44.22 | 15.60 | 756.80 | 649.00 | 16.61 | 14.58 | 890.20 | 923.30 | -3.58 | | Energy & Utilities | 0.00 | 0.00 | 0.00 | - | | High Tech Media & Entertainment | 28.37 | 449.70 | 360.30 | 24.81 | 29.55 | 1,433.60 | 1,346.20 | 6.49 | 28.21 | 1,722.80 | 1,468.60 | 17.31 | | CPG Retail Pharma | 15.51 | 245.80 | 258.10 | -4.77 | 15.67 | 760.50 | 760.80 | -0.04 | 16.43 | 1,003.50 | 761.60 | 31.76 | | Health & Public Services | 5.98 | 94.70 | 47.20 | 100.64 | 4.67 | 226.40 | 246.10 | -8.00 | 5.17 | 315.80 | 279.40 | 13.03 | | Total PBIT | 100.00 | 1,584.90 | 1,374.80 | 15.28 | 100.00 | 4,851.70 | 4,631.60 | 4.75 | 100.00 | 6,107.70 | 5,248.60 | 16.37 | | Less : Interest | | 60.70 | 37.90 | 60.16 | | 153.70 | 106.80 | 43.91 | | 150.40 | 123.40 | 21.88 | | Add: Other un-allcoable | | 20.50 | -26.30 | LP | | -97.60 | -177.50 | 45.01 | | -165.80 | 168.70 | PL | | PBIT Margin(%) | | Banking Financial Services | | 17.04 | 16.71 | 33.07 | | 17.23 | 18.27 | -103.76 | | 17.76 | 19.76 | -200.39 | | Manufacturing | | 13.54 | 11.40 | 214.11 | | 15.34 | 15.88 | -53.99 | | 15.87 | 20.03 | -416.03 | | Energy & Utilities | | 0.00 | 0.00 | 0.00 | | High Tech Media & Entertainment | | 21.82 | 17.67 | 415.18 | | 22.99 | 22.06 | 92.64 | | 21.36 | 22.61 | -125.55 | | CPG Retail Pharma | | 18.50 | 19.72 | -121.10 | | 18.95 | 20.14 | -118.97 | | 19.63 | 18.54 | 109.20 | | Health & Public Services | | 16.12 | 8.61 | 750.60 | | 13.15 | 15.34 | -219.16 | | 14.73 | 16.36 | -162.93 | | PBT | 100.00 | 1,544.70 | 1,310.60 | 17.86 | 100.00 | 4,600.40 | 4,347.30 | 5.82 | 100.00 | 5,791.50 | 5,293.90 | 9.40 |
|
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