LTTS Q2 FY23 Results Key Highlights
- Consolidated Revenue up 24% and Net Profit is up 22% YoY
- EBIT Margins at 18.2% Vs 18.3% QoQ
- Company won a $60mn plus deal and a deal with TCV of $10mn
- Board recommended a dividend of Rs.15
- BMW Group awarded LTTS a 5 years, multi-million dollar deal to provide high end engineering services for the company’s suite of infotainment consoles targeted for its family of hybrid vehicles.
- Other key deals
- Major growth seen in Transportation and Plant Engineering vertical – 25.2% and 20.8% respectively
- Revenue by Geography
- Attrition rate is 24.1% from 23.2% in Q1 FY23
- Industry Recognition
- Patents: At the end of Q2 FY23 total 976 patents, out of which 663 are co-authored with its customers and remaining 313 filed by LTTS
- Free Cash flow year to date is Rs.452 Cr. Cash & Investment Rs.2436 Cr at end of Q2 FY23.
- Not concern with Deal flow or Deal closures. $1.5 Bn annualized revenue run rate by FY25