L&T Technology Services Limited

L&T Technology Services Limited (LTTS) is a leading global pure-play Engineering Research and Development (ER&D) services company. It offers consultancy, design, development, and testing services across the product and process
development life cycle.

LTTS provides services and solutions in the areas of software and digital engineering, embedded systems, engineering
analytics and plant engineering. The Company’s customer base includes 69 Fortune 500 companies and 57 of the
world’s top ER&D companies, active across multiple segments.

LTTS is a publicly listed subsidiary of Larsen & Toubro Limited, the $21 billion Indian conglomerate operating in over 30 countries.

  • Sales: ₹ 7,312 Cr.
  • Operating profit: ₹ 1,571 Cr.
  • Net profit: ₹ 1,071 Cr.
  • Sales last year: ₹ 6,570 Cr.
  • EBIDT last year: ₹ 1,537 Cr.
  • Sales growth 3Years: 8.96 %

L&T Technology Services Profile

L&T Technology Services Limited (LTTS) is a global leader in Engineering and R&D (ER&D) services. With 913 patents filed for 57 of the Global Top 100 ER&D spenders, LTTS lives and breathes engineering. Our innovations speak for themselves – World’s 1st Autonomous Welding Robot, Solar ‘Connectivity’ Drone, and the Smartest Campus in the World, to name a few.

Its technologists work with global firms to offer smart solutions and services that drive new product development,
facilitate remote asset management, and enable virtual product design and prototyping. With its multi-sectorial
engineering prowess, LTTS is continually blending and integrating ideas and technologies to deliver differentiated
engineering solutions that are uniquely designed to address complex business challenges.

  • Total Assets: ₹ 6,332 Cr.
  • Debt: ₹ 461 Cr.
  • Equity capital: ₹ 21.1 Cr.
  • Current assets: ₹ 4,614 Cr.
  • Current liabilities: ₹ 1,417 Cr.
  • Debt to equity: 0.10
  • Dividend yield: 0.66 %
  • Face value: ₹ 2.00
  • ROE 5Yr: 27.3 %
  • ROCE: 30.8 %
  • ROCE 3Yr: 32.7 %
  • Return on equity: 24.5 %

LTTS’ expertise in engineering design, product development, smart manufacturing, and digitalization touches every area of human lives – from the moment one wakes up till the time one goes to bed. With 89 Innovation and R&D design centers globally, we specialize in disruptive technology spaces such as 5G, Artificial Intelligence, Collaborative Robots, Digital Factory, and Autonomous Transport.

The Company’s innovation and cutting-edge work includes the world’s first autonomous welding robot, architecting the smartest campus in the world, block chaining real estate assets and solar connectivity drones, among others. The key
differentiators for LTTS’ business are its value-maximising customer-centric innovations, deep domain expertise, and a
multi-vertical presence across major industry segments:


LTTS’ Transportation Engineering Services enable OEMs worldwide to develop next-generation vehicles and aircraft systems, achieve a faster time-to-market, and drive innovation across the value chain.

In the Automotive sector, LTTS partners with global customers through robust and reliable platform and solution offerings
across key emerging areas, including, Electrical Vehicle (EV) technologies, Advanced Driver Assistance Systems (ADAS),
and Autonomous Drive (AD) frameworks. It aids customers to meet and exceed global transport safety protocols, emission
standards, and regulations.

LTTS’ Aerospace offerings cover the widest spectrum across aero engines, aerostructures and systems, avionics, air traffic
management systems, new-age digital transformation solutions, urban air mobility and defence.

In Rail Transportation, the offerings include cutting edge signalling systems and full RAMS support for systems and
fleet management.

Industrial Products

LTTS leverages its deep domain expertise in software, electronics, connectivity, mechanical engineering, industrial networking protocols, IIoT, smart industry products, test frameworks, and enterprise control systems to support global
customers. This translates into a robust presence across building automation, home and office product design, energy
management, process control and machinery design.

The Company is also involved in supply chain optimisation and standardisation to help customers explore alternate
sourcing avenues in the post-pandemic global economy. With digital manufacturing emerging as a major focus area,
LTTS is spearheading digital transformation initiatives for customers to help unlock the true potential of emergent
technologies in the Industry 4.0 ecosystem.

Telecom & Hi-Tech

LTTS’ Telecom and Hi-Tech vertical provides engineering services and solutions across five key domains – Telecom,
Consumer Electronics, Semiconductors, Independent

Software Vendors (ISVs), and Media & Entertainment (M&E).

For the consumer electronics segment, LTTS provides services in the areas of product conceptualisation, design and
development, platform software development, testing and certification, manufacturing support, product maintenance,
and product launch.

LTTS supports its semiconductor customers with a range of services covering hardware system design, platform software
development, modem services, verification and validation, multimedia, connectivity, and storage.

LTTS partners with leading ISVs to deliver application engineering, VLSI, cloud engineering, product uplift, platform
development and migration, product support, and testing and certification services.

In Media & Entertainment, LTTS provides services across product engineering, conceptualisation, design and development, testing and certification, manufacturing support, maintenance, and value engineering. The Company is pursuing key partnerships with leading participants in the emerging OTT (Over The Top) space.

Plant Engineering

LTTS provides end-to-end solutions across designing, engineering, project management, handover operations, and delivery and maintenance of custom digital solutions. As a leading Engineering, Procurement, and Construction Management (EPCM) services specialist, LTTS supports all key stages across a plant’s lifecycle – from conceptualisation to commissioning.

The Company’s digital solutions further enable manufacturers to upgrade and integrate their legacy systems with smart
platforms to help drive state-of-the-art connectivity and synergy for transforming business outcomes.

Medical Devices

LTTS helps medical device OEMs worldwide accelerate product development cycles, reduce time to market, deliver
sustained value engineering, and ensure seamless multigeography compliant product launches. The Company works
closely with leading global medical device manufacturers and healthcare providers to offer solutions around remote
medical care, regulatory compliances and approvals, in-vitro diagnostics, patient mobility solutions, surgical services, home
healthcare, and Medical Internet of Things.

LTTS also provides pre-compliance testing and validation support. It also helps customers with product/compliance
remediation frameworks, complaint management systems, and regulatory documentation support. LTTS is focusing on
redefining legacy medical product design methodologies for ensuring the widest possible compliance with diverse
regulatory regimes across territories and regions.

Raveendran R
Editor @ Indiancompaies.in

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