The company’s EBIT margin stood at 17.1% for the quarter ended March and the board has recommended a final dividend of Rs 33 per share.
During the quarter, LTTS signed one USD 100 million, one USD 30 million and two deals each of USD 20 million and USD 10 million. Additionally, they signed one significant empanelment agreement.
LTTS also announced that it will streamline and simplify its organizational structure into 3 main segments to drive future growth, scalability and technology innovation. The company will consolidate its existing five segments into three: Mobility, Sustainability, and Hi-Tech, as part of the company’s ‘Go Deeper to Scale’ strategy to meet evolving customer demands.
The Mobility segment will encompass Automotive, Commercial Vehicles and Aerospace verticals. Sustainability will cover Industrial Machinery & Building Technology, Electric & Power, FMCG and Oil & Gas. The Hi-Tech segment will include MedTech, Semiconductors, Consumer Electronics, Hyperscalers and NexGen Comm verticals.
As part of this strategic realignment, LTTS is integrating sales and delivery into a single cohesive structure to enhance agility and faster decision-making, drive domain-specific synergies, scale operations and deals, and deliver greater value to both customers and employees.”Over the past decade LTTS has established itself as the largest pure-play engineering services provider based in India,” said Amit Chadha, CEO & Managing Director, L&T Technology Services. “As technology cycles shorten, and clients continue to look for specific solutions and domain expertise, we believe it is time to go deeper to scale. By consolidating into 3 unifying segments and 3 horizontals, we will enhance our ability to address the evolving needs of our customers across diverse industries and geographies. It will also enable LTTS to become the strategic partner across the Customer’s Life Cycle Journey, from the point of inception to guiding them through every stage of transformation”, he added. L&T Technology Services Limited is a listed subsidiary of Larsen & Toubro Limited focused on Engineering and R&D (ER&D) services offering consultancy, design, development and testing services across the product and process development life cycle.
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