L&T Tech Q4 Review - Questionable Multiples: ICICI Securities

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May 04 2021, 3:19 PMMay 04 2021, 3:19 PMMay 04 2021, 3:19 PMMay 04 2021, 3:19 PM

BQ Blue’s peculiar probe conception collates prime and in-depth equity and system probe reports from crossed India’s apical brokerages, plus managers and probe agencies. These reports connection BloombergQuint’s subscribers an accidental to grow their knowing of companies, sectors and the economy.

L&T Technology Services Ltd. continued to lag down astir of its IT/engineering probe and improvement peers – earlier connected resilience, present connected recovery.

Reported gross maturation (3.8% quarter-on-quarter, versus 4.7% of Cyient Ltd., changeless currency) was down our estimates.

Adjusted for little amortisation, Ebit borderline expanded conscionable 70 ground points QoQ (versus ~150 ground points of Cyient) missing our estimates.

Revenue maturation guidance (13-15%, U.S. dollar), contempt precise anemic basal (down 6.8% year-on-year successful FY21, changeless currency), was a disappointment, implying a meagre 3% compound yearly maturation complaint (CC) implicit FY2022.

Click connected the attachment to work the afloat report:

ICICI Securities LTTS Q4FY21 Results Update.pdf


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