LTTS Q1 FY23 Results Key Highlights
- Consolidated Revenue up 23.40% and Net Profit 26.83% YoY
- EBITDA Margins 21.5% Vs 21.7% QoQ
- In Q1 won 7 deals with Total Contract Value (TCV) of $10million plus.
- Revenue by vertical in Q1 Transportation- 33.2%, Industrial Products- 19%, Telecom & Hi-tech- 20.3%, Plant Engineering- 16.0%, Medical Devices- 11.5%
- Revenue by Geography in Q1 North America- 62.9%, Europe- 16.4%, India- 13.2%, Rest of world- 7.4%
- Attrition Rate 23.2% from 20.4% last quarter
- Number of clients in Q1FY23- 337
- In Q1FY23 Client Contribution to revenue- Top 5 Clients 16.7%, Top 10 Clients- 27.6% and Top 20%- 43.2%
- A global aerospace & rail major has chosen LTTS as a preferred engineering partner for its technology unit in Canada
- An international healthcare firm has awarded LTTS a program to help in harmonizing and streamlining their QMS systems across North America
- A US based new-age EV OEM has awarded LTTS a multi-year engineering program encompassing energy storage systems, battery structures & BMS integration and design support to help the customer launch its new line-up of electric vehicles
- LTTS won a multi-year deal from an American energy company to be their primary engineering partner for two of its existing refining sites
- LTTS’ Chest-rAITM solution recognized as an “Innovator” by NASSCOM in their AI GameChangers Awards 2022
- Free Cash Flow at Rs.91 Cr. Cash & Investment Rs.2241 Cr at the end of Q1FY23
- FY23 USD revenue growth guidance of 13.5-15.5%
- EBIT Margins may get pressure from Wage hike as effective from July 2022.