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.