LTTSInformation Technology

L&T Technology Services Limited

IT Enabled Services · ISIN INE010V01017 · BSE 540115 · NSE EQ · FV ₹2
Last price
₹4,134
-2.14%today
What this company does

L&T Technology Services Limited operates in IT Enabled Services, part of the Information Technology sector. It booked ₹3,040 cr of revenue in its latest quarter (Q2 FY27) and kept 18.0% of sales as profit. It is the largest of 9 IT Enabled Services companies we track, by market value.

74out of 100
Equitytale Health Score
Solid

Healthier than 74% of companies in Information Technology, on all six measures of filed financials. Each measure is ranked against the 43–127 companies that reported it.

Measures financial condition, not whether to buy. Learn what this score means · How this is calculated

Price momentum
overbought
RSI (14)
71

At close. Not part of the score.

Profitability & returns87

How much profit it earns on the money it employs

Balance sheet87

How much it owes, and whether earnings cover the interest

Cash quality79

Whether reported profit actually arrives as cash

Growth & consistency51

Whether sales and profit have grown, and how steadily

Valuation36

What today's price implies, against our models or its peers

Governance & risk100

How much of the promoters' stake is pledged, and how much they hold · highest in its sector on what we could measure

Is this company doing well?
not investment advice
Strengths
✓ Makes a profit
✓ Strong 18% net margin
✓ Profit up 67% vs last year
✓ Promoters hold 74%
✓ No promoter shares pledged
✓ Strong 31% return on equity
✓ Virtually debt-free
✓ Turns profit into real cash
Watch-outs
None flagged from our data

What if I invest in LTTS?

Set a growth rate and see what a monthly SIP would add up to. Your assumption, our arithmetic.

You would put in
₹12.00 lakh
120 instalments
At 11% a year, it would become
₹21.24 lakh

The slider starts at 11%, taken from this company's own free-cash-flow trend. That is history, not a forecast — this is your assumption, and the figure above is arithmetic on it. Returns are not steady year to year, and a real holding would not grow in a straight line. We do not publish price targets or predict returns.

Key ratios · latest quarter + price
₹4,134▼ -2.14%
latest close · 2026-11-04
1-year return
-10.4%
52-wk low ₹3,00652-wk high ₹5,956
Is it cheap or expensive?
What you pay for the profits, book value and cash flow. Higher isn't automatically worse — it can signal faster growth.
P/E ratio28.9Average
LowAverageHigh
P/B ratio6.19High
Below bookModerateHigh
EV / EBITDA17.2High
LowAverageHigh
How good is the business?
How much profit it earns from its money and its sales.
Return on equity31.0%Strong
WeakFairStrong ▸15%
Return on capital27.3%Strong
WeakFairStrong
Net margin18.0%Strong
ThinDecentStrong
EBITDA margin20.3%Healthy
ThinDecentHealthy
Is it financially safe?
How much it owes, and whether it can comfortably cover it.
Debt to equity0.00Comfortable
LowModerateHigh ▸1
Interest cover37.9×Strong
RiskyOkayStrong ▸5×
Current ratio2.73Ample
Tight ◂1HealthyAmple
More figures
Market cap
₹43,815 cr
Book value
₹668
EPS
₹35.78
latest quarter
Net debt
₹-1,439 cr
more cash than debt
Enterprise value
₹42,376 cr
EBITDA
₹2,467 cr
annualised
EBIT
₹2,110 cr
annualised
Operating margin
17.3%
Return on assets
21.1%
Earnings yield
3.46%
P/S
3.60
Sales / share
₹1,147.3
Tax rate
26.0%
Face value
₹2
Shares
10.6 cr
Working capital
₹4,580 cr
Current assets
₹7,224 cr
Current liabilities
₹2,643 cr
Delivery %
32.6%
Strong / safeFairWeak / riskyValuation — a level, not good/badBands are general rules of thumb, not advice.

P/E, ROE, ROCE and margins are annualised from the latest quarter; per-share and balance-sheet ratios use the most recent balance sheet on file · prices as of 2026-11-04.

Worth vs price · from the exchange filings
not investment advice
Looks overpricedHigh confidence
Median of 3 models ₹2,408 vs market price ₹4,134 — price is 72% above it
Safety cushion-71.6%(target ≥ +20%)
Models span ₹1,477–₹2,739, midpoint ₹2,408
Model ₹2,408
Price ₹4,134
Cheap sideExpensive side

An educational model from the company's own filings, every assumption shown — not investment advice or a price target. Prices can stay above or below any model for years.

P&L · Q2 FY27 (consolidated)
Revenue from Operations₹3,040 cr
Other Income₹31 cr
Total Income₹3,071 cr
Cost of Materials₹0 cr
Purchases of Stock-in-Trade₹0 cr
Employee Benefit Expense₹1,752 cr
Finance Costs₹14 cr
Depreciation & Amortisation₹89 cr
Other Expenses₹703 cr
Total Expenses₹2,558 cr
Profit before Tax₹514 cr
Tax Expense₹133 cr
Net Profit₹549 cr
Net margin on total income17.9%
Where the money goes · Q2 FY27
% of total income
Employee benefit expense₹1,752 cr54.1%
Finance costs₹14 cr0.4%
Depreciation & amortisation₹89 cr2.8%
Other expenses₹703 cr21.7%
Tax expense₹133 cr4.1%
Profit for the period₹549 cr16.9%
Total income ₹3,071 cradds up to ₹100 ✓
Quarterly results · consolidated (₹ cr)
MetricQ4 FY26Q1 FY27Q2 FY27
Revenue2,858 cr2,940 cr3,040 cr
Total income2,913 cr2,969 cr3,071 cr
Expenses2,440 cr2,493 cr2,558 cr
Profit before tax436 cr476 cr514 cr
Tax116 cr124 cr133 cr
Net profit (owners' share)332 cr357 cr548 cr
Net margin (owners' share, on revenue)11.6%12.1%18.0%
EPS (₹)30.1433.1735.78
YoY (latest quarter): total income +0.9% · net profit +66.8%
Balance sheet & cash flow · as of Sep 2026
Debt-free
Total assets
₹10,371 cr
Shareholder equity
₹7,081 cr
parent shareholders
Total debt
₹0 cr
Cash
₹1,439 cr
Cash flow · H1 FY27
Operating
₹559 cr
Investing
₹-247 cr
Financing
₹-534 cr
Peer comparison
IT Enabled Services · by market value
CompanyPriceMarket capP/E
L&T Technology Services Limitedthis company₹4,224₹44,774 cr29.5
Inventurus Knowledge Solutions Limited₹1,730₹29,555 cr37.4
Tata Technologies Limited₹648₹26,306 cr38.4
Netweb Technologies India Limited₹4,088₹23,276 cr43.4
Affle 3i Limited₹1,583₹22,270 cr42.9
SAGILITY LIMITED₹42₹19,812 cr17.4
Black Box Limited₹798₹14,168 cr63.3
Amagi Media Labs Limited₹564₹12,209 cr94.7
Cyient Limited₹1,139₹11,939 cr24.7
Same industry · latest reported numbers · not a recommendation.
Corporate actions
Dividend yield
1.45%
trailing 12 months
Dividend / share (TTM)
₹60
Last dividend
₹20
ex 27 Oct 2026
ActionDetailEx-date
Dividend₹20 / share27 Oct 2026
Dividend₹40 / share22 May 2026
Dividend₹18 / share27 Oct 2025
Dividend₹38 / share6 Jun 2025
Dividend₹17 / share25 Oct 2024
Dividend₹33 / share14 Jun 2024
Who owns it · 2026-09-30
No pledge
Promoter
73.5%
FII / Foreign
4.4%
DII / Domestic
13.8%
Retail / others
8.3%
Promoter stake down 0.2% over the last 12 quarters.
Smart-money activity
Insider trades
SoldBHANU P GOPALAM · Employees/Designated Employees451 · ₹23.3 L18 Dec 24
SoldHRISHIKESH RAO · Employees/Designated Employees4,000 · ₹2.2 cr27 Nov 24
SoldMURALIDHARA H L · Employees/Designated Employees300 · ₹16.2 L25 Nov 24
Bulk / block deals
short— · NSE33 Sep 26
short— · NSE1324 Jul 26
short— · NSE1016 Jul 26
Stake changes
BoughtLife Insurance Corporation of India→ 5.00% · 21,36721 Apr 23
SoldLarsen & Toubro Limited · promoter→ 75.39% · 36.31 L4 Jun 19
SoldLarsen & Toubro Limited · promoter→ 81.58% · 56.38 L3 Aug 18
What shareholders were asked to approve
1 proposal passed only on promoter votes

A company cannot decide everything on its own. Things like a top executive’s pay, issuing new shares, or re-appointing a director have to be put to the people who own the company, and they vote — one vote per share. So whoever owns the most shares has the most say.

Postal ballot · 3 Sep 2026
See the official result
1
Re-appointment of Mr. Luis Miranda (DIN:01055493), as an Independent Director of the Company.
Backed by 90% of shareholders other than promotersneeded 75%
1.49 cr votes for, 16.08 L against · 10% of mutual funds and other big investors said no

Every vote count above is taken from the result the company filed with the stock exchange, certified by an independent counter. To work out what would have happened without the promoters, we simply remove their votes and re-apply the same legal bar the proposal had to clear. Nothing here is an estimate or an opinion.

Who controls this company, and what it pays them

Most Indian companies are controlled by a family or group — the promoters. The exchange requires them to be listed by name, including members who own no shares at all, and requires the company to disclose any business it does with them.

The promoter group — 111 named members
owning 73.5% between them · as of 2026-09-30
LARSEN AND TOUBRO LIMITED73.51%
BANGALORE GALAXY TECHPARK PRIVATE LIMITEDno shares
BHILAI POWER SUPPLY COMPANY LIMITEDno shares
BUSINESS PARK (POWAI) PRIVATE LIMITEDno shares
CHENNAI NOVA TECHPARK PRIVATE LIMITEDno shares
CHENNAI VISION DEVELOPERS PRIVATE LIMITEDno shares
Corporate PARK (POWAI) PRIVATE LIMITEDno shares
E2E Networks Limitedno shares
Business done with them
FY2026 · 7 of the group
The company paid ₹603 cr to companies in the promoter group last year — about 5.5% of its ₹10,996 cr revenue and received ₹216 cr back from them.
LARSEN AND TOUBRO LIMITED
Other payments to them · Revenue from services, Rent paid, Services availed by the company, Trademark fees, Interim dividend paid - Equity, Services rendered by the company, Purchase of services, Business Acquisition, Guarantee Charges, Capital Commitment
also owns 73.51% of the company
₹537 cr
company paid
LARSEN AND TOUBRO LIMITED
Provided services to them · Revenue from services, Rent paid, Services availed by the company, Trademark fees, Interim dividend paid - Equity, Services rendered by the company, Purchase of services, Business Acquisition, Guarantee Charges, Capital Commitment
also owns 73.51% of the company
₹188 cr
company received
L&T REALTY DEVELOPERS LIMITED
Other payments to them · Services availed by the Company, Rent paid
₹50 cr
company paid
L&T SEMICONDUCTOR TECHNOLOGIES LIMITED
Provided services to them · Services rendered by the Company, Revenue from services
₹26 cr
company received
L&T REALTY DEVELOPERS LIMITED
Paid them for services · Services availed by the Company, Rent paid
₹10 cr
company paid
LARSEN AND TOUBRO LIMITED
Paid them for services · Revenue from services, Rent paid, Services availed by the company, Trademark fees, Interim dividend paid - Equity, Services rendered by the company, Purchase of services, Business Acquisition, Guarantee Charges, Capital Commitment
also owns 73.51% of the company
₹6 cr
company paid
L&T - MHI POWER BOILERS PRIVATE LIMITED
Provided services to them · Revenue from services
₹2 cr
company received
L&T Network Services Private Limited
Provided services to them · Revenue from services
₹40 L
company received
L&T Construction Equipment Limited
Paid them for services · Purchase of services
₹20 L
company paid
Larsen &Toubro (East Asia) SDN.BHD
Other payments to them · Rent paid
₹20 L
company paid

The company also transacted with 15 other related parties — subsidiaries, joint ventures, directors and others — that we could not match by name to the promoter list above. Some may still be connected to the family; we only count the ones the filings let us match with certainty.

Names and holdings from the company’s shareholding pattern filed with the exchange; transactions from the related-party note in its annual report. Every figure is as filed — these are legal, disclosed dealings, and what to make of them is your call.

How the stock has moved · adjusted for splits & bonuses
Data from primary exchange filings · analysis tool, not investment advice.