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L&T Technology Services Ltd

BSE Code : 540115 | NSE Symbol : LTTS | ISIN:INE010V01017| SECTOR : IT - Software |

NSE BSE
 
SMC up arrow

1,738.70

41.15 (2.42%) Volume 280564

22-Oct-2020 11:39:59

Prev. Close

1,697.55

Open Price

1,703.95

Bid Price (QTY)

1,737.55(1)

Offer Price (QTY)

1,738.65(1)

 

Today’s High/Low 1,739.75 - 1,694.45

52 wk High/Low 1,879.40 - 995.00

Key Stats

MARKET CAP (RS CR) 17809.76
P/E 26.13
BOOK VALUE (RS) 282.4104953
DIV (%) 1050
MARKET LOT 1
EPS (TTM) 65
PRICE/BOOK 6.01340965815019
DIV YIELD.(%) 1.23
FACE VALUE (RS) 2
DELIVERABLES (%) 49.13
4

News & Announcements

20-Oct-2020

L&T Technology Services consolidated net profit declines 19.58% in the September 2020 quarter

20-Oct-2020

Board of L&T Technology Services recommends Interim Dividend

20-Oct-2020

L&T Technology Services appoints director

20-Oct-2020

L&T Technology Services allots 13,415 equity shares under ESOS

20-Oct-2020

L&T Technology Services allots 13,415 equity shares under ESOS

03-Oct-2020

L&T Technology Services to consider dividend

28-Sep-2020

L&T Technology Services to provide engineering services for Tenneco's DRiV OE Ride Control business

21-Sep-2020

L&T Technology Services allots 3.29 lakh equity shares under ESOS

Corporate Actions

Bonus
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Financials

Income Statement

Standalone
Consolidated
 

Peers Comparsion

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Share Holding

Category No. of shares Percentage
Total Foreign 8882125 8.47
Total Institutions 6113469 5.83
Total Govt Holding 0 0.00
Total Non Promoter Corporate Holding 1535249 1.46
Total Promoters 77986899 74.36
Total Public & others 10353511 9.88
Total 104871253 100
  • Total Foreign
  • Total Institutions
  • Total Govt Holding
  • Total Non Promoter Corporate Holding
  • Total Promoters
  • Total Public & others

About L&T Technology Services Ltd

L&T Technology Services Limited (LTTS) is a listed subsidiary of Larsen & Toubro Limited. The Company is a leading global pure-play Engineering Research & Development (ER&D) services company. It offers design and development solutions throughout the product development chain and provides services and solutions in the areas of mechanical and manufacturing engineering, embedded systems, engineering analytics and plant engineering. Headquartered in India, LTTS has over 15,100 employees spread across 17 global design centers, 28 global sales offices and 49 innovation labs in India as of March 31, 2019. Its customer base includes 69 Fortune 500 companies and 51 of the world's top ER&D companies, across industrial products, medical devices, transportation, telecom & hi-tech, and the process industries. L&T Technology Services Limited was incorporated as L&T Technology and Engineering Services Company Limited on June 14, 2012 at Mumbai as a public limited company. The Company received the certificate of commencement of business on June 20, 2012. Subsequently, the name of the company was changed to L&T Technology Services Limited pursuant to a special resolution passed by Shareholders at the EGM held on July 19, 2012. As the engineering services business of the Company is sub-set of technology services, the name of the Company was changed to L&T Technology Services Limited to more appropriately describe its business in line with the company's main objects. In 2014, L&T Technology Services acquired the product engineering services (PES) business (except the unit in Germany) from Larsen & Toubro Infotech Limited.In 2015, L&T Technology Services acquired the unit of PES business in Germany from L&T Infotech GmbH. During the year, the company acquired the integrated engineering services (IES) business from L&T. Also during the year, the company acquired 74% stake in Thales Software India Private Limited (TSIPL). The company also acquired the engineering services division of Dell, India during the year. It also acquired the engineering services division of Dell, USA through its wholly owned subsidiary, LTTS LLC. In September 2016, L&T Technology Services was listed on the bourses after promoter L&T sold 1.04 crore shares of the company through an initial public offer during the period from 12 to 15 September 2016 via book building. On 6 October 2016, L&T Technology Services announced a Digital Engineering Transformation partnership with Microsoft Corporation to deliver Microsoft Azure Engineering Solutions for global enterprises across industries. This strategic partnership between the two companies enables enterprises around the world to leverage L&T Technology's cutting-edge IP-led Digital Engineering solutions hosted on Microsoft's Azure enterprise cloud-first, mobile-first infrastructure. On 19 October 2016, L&T Technology Services announced that it has secured a new multi-year, multi-million dollar contract from a large global semi-conductor company to provide verification support on their expansive portfolio of offerings and products. This strategic tie-up between the two companies will enable the customer to strengthen its product offering and capitalize on market opportunities with superior quality products. On 23 March 2017, L&T Technology Services inaugurated its new Center of Excellence dedicated for a leading German Original Equipment Manufacturer (OEM) in Munich Germany, its fourth delivery center for the customer following R&D hubs in Mumbai, Bangalore and Mysore in India. On 24 April 2017, L&T Technology Services Limited (LTTS) announced the development of Smart City & Campus solutions that will be used to develop a smart office campus in Israel for a leading technology company - a result of its expanded partnership with Microsoft. The multi-year project was awarded shortly after LTTS and Microsoft expanded their existing partnership for Smart City, Campus & Building (SCCB) solutions based on Microsoft Azure. On 1 June 2017, L&T Technology Services (LTTS) announced the completion of the acquisition of Esencia Technologies, a provider of design services from specification to final product in Digital Signal Processing for Communications, Video, Security and Networking. San Jose- based Esencia will become a subsidiary of LTTS. On 3 May 2017, LTTS had signed a definitive agreement to acquire Esencia to deepen its offerings to global customers in the realm of Wireless Connectivity Solutions, Perceptual Computing, Internet of Things and Advanced Silicon Products. Esencia's existing team of over 100 Embedded, ASIC design and semiconductor experts in Silicon Valley will become part of the LTTS family. The Esencia acquisition brings huge cross leverage potential adding synergistic business to LTTS, enabling the company to offer high end VLSI and ASIC services to its global customers across hi-tech and semiconductor industries. On 21September 2017, L&T Technology Services (LTTS) announced its collaboration with Wind River, an Intel company and world leader in delivering software for the Internet of Things (IoTs).The two companies will work together to investigate, validate and optimize LTTS technologies with Wind River software platforms to discover compelling joint value propositions for shared customers in areas such as IoT, cloud computing, and network functions virtualization (NFV) in markets ranging from aerospace and defense and automotive to industrial, medical, and networking. On 25 September 2017, L&T Technology Services Limited announced the formal establishment of an engineering solutions delivery center in Chennai, India that is focused on supporting a key customer. The center strengthens collaboration with Vestas, the world leader in the development, manufacturing, sale and maintenance of wind power plants. L&T Technology Services has been associated with Vestas for over a decade as a strategic engineering partner. On 14 November 2017, L&T Technology Services Limited announced the establishment of its Center of Excellence (CoE) in Jerusalem, Israel, thereby marking another key milestone in the firm's global presence. The CoE will be dedicated to developing and delivering end-to-end ASIC solutions; hardware and software based security solutions as well as next generation video solutions for global customers in the following market segments- Media, Entertainment, Telecom, Automotive and IIoT. In addition to the CoE in Jerusalem, LTTS has launched a sales office in Tel-Aviv that will be expanding the company's business in Israel and offer the full scope of engineering services in the areas of Telecom, Semiconductors, Medical Devices, Automotive, IoT and Plant Engineering. On 18 January 2018, L&T Technology Services Limited announced that it has won a landmark project worth $50 million spanning over five years from a leading aerospace electronic systems manufacturer. The transformational deal significantly extends the engagement between the companies. On 22 March 2018, L&T Technology Services Limited announced that Germany's Covestro, a world-leading manufacturer of high-tech polymer materials, has selected the company as one of its major engineering services partners to implement digitalization based Engineering Programs across Covestro's global locations. L&T Technology Services has been awarded a multi-million dollar contract by Covestro to execute these engineering transformational programs. On 9 April 2018, L&T Technology Services Limited (LTTS) announced that it has won a contract worth more than $20 million in the first year from ExxonMobil Exploration Company. LTTS will work in collaboration with group company Larsen & Toubro Infotech (LTI) on this engagement. During the year 2019, the Company acquired Bengaluru based Graphene Semiconductor Services Private Limited along with its three overseas subsidiaries and one Indian subsidiary Company. Further, the company acquired 1364601 shares of Rs10 each from Graphene Semiconductor Services Private Limited along with its subsidiaries Graphene Solutions Pte Ltd (Singapore), Graphene Solution SDN. BHD (Malaysia), Graphene Solutions Taiwan Limited (Taiwan) and Seastar Labs Private Limited (India). Post the said acquisition; the Company has three subsidiaries namely L&T Technology Services LLC, L&T Thales Technology Services Private Limited and Graphene Semiconductor Services Private Limited. Further the Company also has following step down subsidiaries namely Esencia Technologies Inc., Esencia Technologies India Private Limited, Graphene Solutions PTE Ltd (Singapore), Graphene Solution SDN. BHD (Malaysia), Graphene Solutions Taiwan Limited (Taiwan) and Seastar Labs Private Limited.

L&T Technology Services Ltd Chairman Speech

Dear Shareholders,

LTTS' multi-domain engineering expertise, from manufacturing to healthcare and telecommunications, and its bluechip clientele comprising 69 Fortune 500 companies, has helped it gain market share on a sustained basis.

I do hope that you and your loved ones are taking good care of yourselves while keeping faith in the administration, frontline workers and research scientists to contain the fallout of the viral outbreak and develop a solution to overcome a problem of global magnitude.

I now wish to present your Company's Annual Report for the fiscal year 2020. In its fourth year as a listed company, L&T Technology Services (LTTS) continues to build on its engineering legacy and consolidate its position as India's leading pure-play engineering services provider. You will be happy to know that ER&D spends globally have shown a steady increase year after year, making the sector relatively recession-proof, as demand for cutting edge services and solutions continue to rise. The engineering services outsourcing industry is gaining considerable traction as customers are increasingly placing a premium on R&D and innovation.

Comprehensive ER&D Services

As a leader in the Indian engineering services space, LTTS is poised to become the preferred engineering partner to the world's top ER&D companies. The Company's multi-domain engineering expertise, from manufacturing to healthcare and telecommunications, and its blue- chip clientele comprising 69 Fortune 500 companies, has helped LTTS gain market share on a sustained basis.

Your Company is among the frontrunners in Digital Engineering in Indian industry. LTTS' focus is on conceiving and executing digital blueprints for its global customers. A research-oriented culture and out-of-the-box thinking, reflected in its growing number of patents and IP portfolio, further consolidates its credentials as an innovation-led company.

Our leadership in the field is built on the pillars of investing in future technology trends backed by continuous training to ensure that our employees' skillsets and domain knowledge remain on the cutting-edge. We have set up a comprehensive digital skills training program to encourage and mentor engineers to develop skills in new-age fields such as machine learning, automation and engineering analytics. Theoretical training is complemented with real-life insights from customer projects, making the LTTS engineers both highly-skilled and future-ready.

Industry Trends

In these uncertain times, corporates around the world are seeking to mitigate risk by gravitating towards industry leaders and well-established brands. In my interactions, with several of the world's top CEOs, I have observed a marked trend of consolidation of market share in favor of industry leading technology players. Major enterprises today are looking for technology partners who are agile, flexible, innovative and can accelerate their transformation journey. This holds good prospects for growth for LTTS in the longer term. In the post COVID era, new-age technologies such as 5G, Artificial Intelligence, Machine to Machine Communication, Internet of Things, and Advanced Robotics will play a major role in ‘normalization' of the work ethos. Technology will enable and enhance more operations in multiple sectors – manufacturing, transportation, healthcare, etc. Anticipating this, your Company has been consistently investing and growing its new-age technology portfolio allowing it to roll out cutting-edge offerings to customers. With proven expertise in Digital Engineering, LTTS could well become the transformation partner of choice for more of the world's leading companies.

Performance in FY20

LTTS has done remarkably well despite the challenges posed since the beginning of FY20. In the fiscal year ended March 31, 2020, revenues grew 11% to touch Rs. 56,191 million, equivalent to USD 786 million, while net profit rose 7% to Rs. 8,186 million for the year.

LTTS is among the top-rated companies in the analyst community, winning recognition from some of the world's reputed consultancies including Everest Group, ARC and NelsonHall. Other accolades that your Company won in FY20, include recognition from the Confederation of Indian Industry (CII) as one of the most innovative Indian companies in the Services category in the Large Enterprises' segment. I look forward to seeing the vibrant team of LTTS cross more milestones in the years ahead.

I thank Dr. Keshab Panda and his inspired team for an impressive performance. I also thank all of you, our valuable shareholders for steadfastly supporting LTTS. I wish every one of you and your families a safe, healthy and prosperous future.

A. M. Naik
Founder Chairman

   

L&T Technology Services Ltd Company History

L&T Technology Services Limited (LTTS) is a listed subsidiary of Larsen & Toubro Limited. The Company is a leading global pure-play Engineering Research & Development (ER&D) services company. It offers design and development solutions throughout the product development chain and provides services and solutions in the areas of mechanical and manufacturing engineering, embedded systems, engineering analytics and plant engineering. Headquartered in India, LTTS has over 15,100 employees spread across 17 global design centers, 28 global sales offices and 49 innovation labs in India as of March 31, 2019. Its customer base includes 69 Fortune 500 companies and 51 of the world's top ER&D companies, across industrial products, medical devices, transportation, telecom & hi-tech, and the process industries. L&T Technology Services Limited was incorporated as L&T Technology and Engineering Services Company Limited on June 14, 2012 at Mumbai as a public limited company. The Company received the certificate of commencement of business on June 20, 2012. Subsequently, the name of the company was changed to L&T Technology Services Limited pursuant to a special resolution passed by Shareholders at the EGM held on July 19, 2012. As the engineering services business of the Company is sub-set of technology services, the name of the Company was changed to L&T Technology Services Limited to more appropriately describe its business in line with the company's main objects. In 2014, L&T Technology Services acquired the product engineering services (PES) business (except the unit in Germany) from Larsen & Toubro Infotech Limited.In 2015, L&T Technology Services acquired the unit of PES business in Germany from L&T Infotech GmbH. During the year, the company acquired the integrated engineering services (IES) business from L&T. Also during the year, the company acquired 74% stake in Thales Software India Private Limited (TSIPL). The company also acquired the engineering services division of Dell, India during the year. It also acquired the engineering services division of Dell, USA through its wholly owned subsidiary, LTTS LLC. In September 2016, L&T Technology Services was listed on the bourses after promoter L&T sold 1.04 crore shares of the company through an initial public offer during the period from 12 to 15 September 2016 via book building. On 6 October 2016, L&T Technology Services announced a Digital Engineering Transformation partnership with Microsoft Corporation to deliver Microsoft Azure Engineering Solutions for global enterprises across industries. This strategic partnership between the two companies enables enterprises around the world to leverage L&T Technology's cutting-edge IP-led Digital Engineering solutions hosted on Microsoft's Azure enterprise cloud-first, mobile-first infrastructure. On 19 October 2016, L&T Technology Services announced that it has secured a new multi-year, multi-million dollar contract from a large global semi-conductor company to provide verification support on their expansive portfolio of offerings and products. This strategic tie-up between the two companies will enable the customer to strengthen its product offering and capitalize on market opportunities with superior quality products. On 23 March 2017, L&T Technology Services inaugurated its new Center of Excellence dedicated for a leading German Original Equipment Manufacturer (OEM) in Munich Germany, its fourth delivery center for the customer following R&D hubs in Mumbai, Bangalore and Mysore in India. On 24 April 2017, L&T Technology Services Limited (LTTS) announced the development of Smart City & Campus solutions that will be used to develop a smart office campus in Israel for a leading technology company - a result of its expanded partnership with Microsoft. The multi-year project was awarded shortly after LTTS and Microsoft expanded their existing partnership for Smart City, Campus & Building (SCCB) solutions based on Microsoft Azure. On 1 June 2017, L&T Technology Services (LTTS) announced the completion of the acquisition of Esencia Technologies, a provider of design services from specification to final product in Digital Signal Processing for Communications, Video, Security and Networking. San Jose- based Esencia will become a subsidiary of LTTS. On 3 May 2017, LTTS had signed a definitive agreement to acquire Esencia to deepen its offerings to global customers in the realm of Wireless Connectivity Solutions, Perceptual Computing, Internet of Things and Advanced Silicon Products. Esencia's existing team of over 100 Embedded, ASIC design and semiconductor experts in Silicon Valley will become part of the LTTS family. The Esencia acquisition brings huge cross leverage potential adding synergistic business to LTTS, enabling the company to offer high end VLSI and ASIC services to its global customers across hi-tech and semiconductor industries. On 21September 2017, L&T Technology Services (LTTS) announced its collaboration with Wind River, an Intel company and world leader in delivering software for the Internet of Things (IoTs).The two companies will work together to investigate, validate and optimize LTTS technologies with Wind River software platforms to discover compelling joint value propositions for shared customers in areas such as IoT, cloud computing, and network functions virtualization (NFV) in markets ranging from aerospace and defense and automotive to industrial, medical, and networking. On 25 September 2017, L&T Technology Services Limited announced the formal establishment of an engineering solutions delivery center in Chennai, India that is focused on supporting a key customer. The center strengthens collaboration with Vestas, the world leader in the development, manufacturing, sale and maintenance of wind power plants. L&T Technology Services has been associated with Vestas for over a decade as a strategic engineering partner. On 14 November 2017, L&T Technology Services Limited announced the establishment of its Center of Excellence (CoE) in Jerusalem, Israel, thereby marking another key milestone in the firm's global presence. The CoE will be dedicated to developing and delivering end-to-end ASIC solutions; hardware and software based security solutions as well as next generation video solutions for global customers in the following market segments- Media, Entertainment, Telecom, Automotive and IIoT. In addition to the CoE in Jerusalem, LTTS has launched a sales office in Tel-Aviv that will be expanding the company's business in Israel and offer the full scope of engineering services in the areas of Telecom, Semiconductors, Medical Devices, Automotive, IoT and Plant Engineering. On 18 January 2018, L&T Technology Services Limited announced that it has won a landmark project worth $50 million spanning over five years from a leading aerospace electronic systems manufacturer. The transformational deal significantly extends the engagement between the companies. On 22 March 2018, L&T Technology Services Limited announced that Germany's Covestro, a world-leading manufacturer of high-tech polymer materials, has selected the company as one of its major engineering services partners to implement digitalization based Engineering Programs across Covestro's global locations. L&T Technology Services has been awarded a multi-million dollar contract by Covestro to execute these engineering transformational programs. On 9 April 2018, L&T Technology Services Limited (LTTS) announced that it has won a contract worth more than $20 million in the first year from ExxonMobil Exploration Company. LTTS will work in collaboration with group company Larsen & Toubro Infotech (LTI) on this engagement. During the year 2019, the Company acquired Bengaluru based Graphene Semiconductor Services Private Limited along with its three overseas subsidiaries and one Indian subsidiary Company. Further, the company acquired 1364601 shares of Rs10 each from Graphene Semiconductor Services Private Limited along with its subsidiaries Graphene Solutions Pte Ltd (Singapore), Graphene Solution SDN. BHD (Malaysia), Graphene Solutions Taiwan Limited (Taiwan) and Seastar Labs Private Limited (India). Post the said acquisition; the Company has three subsidiaries namely L&T Technology Services LLC, L&T Thales Technology Services Private Limited and Graphene Semiconductor Services Private Limited. Further the Company also has following step down subsidiaries namely Esencia Technologies Inc., Esencia Technologies India Private Limited, Graphene Solutions PTE Ltd (Singapore), Graphene Solution SDN. BHD (Malaysia), Graphene Solutions Taiwan Limited (Taiwan) and Seastar Labs Private Limited.

L&T Technology Services Ltd Directors Reports

Dear Members,

Your Directors have pleasure in presenting the 8th Annual Report along with the Audited Financial Statements of L&T Technology Services Limited for the year ended March 31, 2020.

FINANCIAL RESULTS

Standalone
Particulars
2019-20 2018-19
Profit Before Depreciation, exceptional and extra ordinary items & tax 12,084 10,145
Less: Depreciation, amortization and obsolescence 1,534 731
Profit / (Loss) before exceptional items and tax 10,550 9,414
Add: Exceptional Items - -
Profit / (Loss) before tax 10,550 9,414
Less: Provision for tax 2,650 2,413
Profit for the period carried to the Balance Sheet 7,900 7,001
Add: Balance brought forward from previous year 11,770 7,240
Less: Dividend for the year (Including dividend distribution tax and deemed dividend) 2,641 2,449
Add: ESOP cancellation impact 10
Less: Impact of IND AS 116 in opening reserve 335
Less: Impact of Ind AS 115 and ECL on contract asset in opening reserve 22
Balance available for disposal 16,704 11,770
Balance to be carried forward 16,704 11,770

Performance of the Company State of Company Affairs

The gross sales and other income for the financial year under review wereRs. 53,936 million as against Rs. 48,632 million for the previous financial year registering an increase of 10.91%. The profit before tax from continuing operations including extraordinary and exceptional items was Rs. 10,550 million and the profit after tax from continuing operations including extraordinary and exceptional items of Rs. 7,900 million for the financial year under review as againstRs. 9,414 million and Rs. 7,001 million respectively for the previous financial year, registering an increase of 12.07% and 12.84% respectively.

Segmental Performance

The Company has five Business Segments, namely Transportation, Plant Engineering, Industrial Products, Medical Devices and Telecom & Hi-Tech. During the year, the contribution to the revenue from various business segments were as follows: -

Segmental FY20 % of overall FY19 % of overall
Transportation 17,014 32.8% 14,067 29.9%
Plant Engineering 9,101 17.6% 7,220 15.3%
Industrial Products 10,717 20.7% 10,182 21.6%
Medical Devices 5,109 9.9% 3,378 7.2%
Telecom & Hi Tech 9,872 19.0% 12,273 26.0%
Total 51,813 100.0% 47,120 100.0%

The detailed segmental performance is referred in Note No. 40 of the Notes forming part of the standalone financial statements.

Geographical Performance

The Revenue contribution of the Company from various Geographies is mentioned herein below:

GEO FY20 % of overall FY19 % of overall
North America 30,258 58.4% 25,729 54.6%
Europe 8,256 15.9% 8,334 17.7%
India 7,457 14.4% 7,012 14.9%
Rest of the World 5,842 11.3% 6,045 12.8%
Total 51,813 100.0% 47,120 100.0%

Capital & Finance

During the year under review, the Company had allotted 4,98,233 Equity Shares of Rs. 2 each upon exercise of stock options by the eligible employees under the Employee Stock Option Scheme - 2016.

As on March 31, 2020 the total paid up equity share capital of the Company was Rs. 20,90,23,116/- consisting of 10,45,11,558 equity shares of Rs. 2 each, fully paid up. During the year under review, our Promoter and Holding Company - Larsen & Toubro Limited (L&T) - sold 40,63,632 equity shares, reducing its stake by 4.26% in order to achieve the minimum public shareholding requirement of 25% in compliance with Rule 19(2) and Rule 19A of the Securities Contracts (Regulation) Rules, 1957 and Regulation 38 of SEBI LODR. The Company thus achieved the minimum public shareholding requirement on June 26, 2019, wherein L&T's holding was reduced to 74.99%.

As on March 31, 2020, L&T holds 7,79,86,899 shares constituting 74.62% of the paid-up share capital of the Company.

Capital Expenditure

As at March 31, 2020, the gross fixed and intangible assets including leased assets, stood at Rs. 13,527 million (previous year Rs. 8,087 million) and the net fixed including leased assets, at Rs. 9,595 million (previous year Rs. 5,654 million). Capital expenditure during the year is Rs. 1,347 million (previous year Rs. 872 million).

Deposits

During the year ended March 31, 2020, the Company has not accepted any deposits from the public falling within the ambit of Section 73 of the Act and the Rules framed thereunder.

Hence the Company does not have any unclaimed deposits as on date.

Pursuant to the Ministry of Corporate Affairs (MCA) notification amending the Companies (Acceptance of Deposits) Rules, 2014, the Company is required to file with MCA annual return of deposits in Form DPT-3 on or before June 30, 2020 for outstanding receipts of amounts which are not considered as deposits as on 31.03.2020.

The Company would be complying with this requirement within the prescribed timelines.

Depository System

As the members are aware, the Company's shares are compulsorily tradable in electronic form only. As on March 31, 2020, 99.99% of the Company's total paid up capital representing 10,44,99,712 shares are in dematerialized form. LODR w.e.f. April 1, 2019 mandated that all transfer of shares except transmission and transposition to be carried out only in dematerialized form. In view of the numerous advantages offered by the Depository system as well as to avoid frauds, members holding shares in physical mode are advised to avail the facility of dematerialization from either of the depositories. The Company has not accepted any physical transfer of shares during the year under review. Further in adherence to SEBI's circular to enhance the due-diligence for dematerialization of the physical shares, the Company has provided the static database of the shareholders holding shares in physical form to the depositories which would augment the integrity of its existing systems and enable the depositories to validate any dematerialization request.

Transfer to Investor Education and Protection Fund

There are no amounts that are due to be transferred to Investor Education and Protection Fund by the Company.

The Company has sent adequate communication to the members whose dividends are unclaimed, requesting them to provide/update bank details with the RTA/Company, so that and intangible assets, dividends paid by the Company are credited to the investors' account on timely basis.

The Company has sent communication to shareholder(s) holding shares in physical form for collecting details of their bank account such as Bank name, Bank Branch, MICR number, IFSC Code for payment of dividend to such shareholders, whose dividend remained unclaimed/unpaid. The Company hereafter will be crediting the dividend through electronic mode instead of revalidating and issuing fresh warrants or Demand Drafts to the shareholders.

Pursuant to the Investor Education and Protection Fund Authority (Accounting, Audit, Transfer and Refund) Rules, 2016, the Company has appointed the Company Secretary as the Nodal Officer for carrying out the necessary functions under the said Rules.

Subsidiary/Associate/Joint Venture Companies

During the year under review, the Company has incorporated a wholly owned subsidiary in China named L&T Technology Services (Shanghai) Co. Limited. The Company also formed an overseas company named L&T Technology Services (Canada) Limited through its wholly owned subsidiary, L&T Technology Services LLC, which holds 100% shares in the said Canadian entity.

During the year, the Company has also acquired the shares of Esencia Technologies India Private Limited (India) from Esencia Technologies Inc. and the business of Graphene Solutions PTE. Ltd (Singapore), Graphene Solution SDN. BHD (Malaysia), Graphene Solutions Taiwan limited (Taiwan) and Seastar Labs Private Limited (India) from Graphene Semiconductor Services Private Limited.

The details of investments in such companies during the year are as under:

A) Shares acquired during the year:

Name of the Company Type of Shares No. of shares
Graphene Solutions PTE. Ltd
Equity 60,501
(Singapore)
Graphene Solution SDN. BHD (Malaysia) Equity 1,00,000
Graphene Solutions Taiwan Limited (Taiwan) Equity NA*
Seastar Labs Private Limited Equity 50,000
Esencia Technologies India Private Limited Equity 10,000

*As per the local laws in Taiwan, share capital is not divided in number of shares

Post the said acquisition, the following is the Group structure of the Company:-

B) Performance and Financial Position of each subsidiary/associate and joint venture companies:

A statement containing the salient features of the financial statement of subsidiaries/associate/joint venture companies and their contribution to the overall performance of the Company is annexed to this Annual Report at page no.255.

The Company has formulated a policy on identification of material subsidiaries in line with Regulation 16(c) of LODR and the same is placed on the website at http://www.ltts.com/investors/. The Company does not have any material subsidiaries.

Particulars of Loans given, Investments made, Guarantees given or Security provided by the Company

The Company has disclosed the full particulars of the loans given, investments made or guarantees given or security provided as required under Section 186 of Act, and Regulation 34(3) read with Schedule V of the LODR in Note 37 forming part of the financial statements.

Particulars of Contracts or Arrangements with Related Parties

The Audit Committee and Board of Directors have approved the Related Party Transaction Policy along with threshold limits and the same has been uploaded on the Company's website http://www.ltts.com/investors

The Company has a process in place of periodically reviewing and monitoring Related Party Transactions.

All the Related Party Transactions were in the ordinary course of business and at arm's length. The Audit Committee has approved all the Related Party Transactions for FY 2019-20 and estimated transactions for FY 2020-21 as required under the provisions of Section 177 of the Act.

There are no materially significant related party transactions that may have conflict with the interest of the Company.

Amount to be Carried to Reserves

The Company has not transferred any amount to the reserves during the current financial year.

Dividend

The Board at its meeting held on October 18, 2019 declared an interim dividend of Rs. 7.50 (375%) per equity share amounting to Rs. 782 million (the total payout including Dividend Distribution Tax amounted to Rs. 943 million). The dividend was paid on November 5, 2019.

Further, the Board of Directors, in its meeting held on May 15, 2020 have recommended the payment of final dividend of Rs. 13.50 (675%) per equity share of Rs. 2 each for the financial year ended March 31, 2020. The proposal is subject to the approval of shareholders at the ensuing Annual General Meeting (AGM) to be held on July 17, 2020.

The final dividend on equity shares, if approved by the members, would involve a cash outflow of Rs. 1411 million.

The dividend is based upon the parameters mentioned in the Dividend Distribution Policy approved by the Board of Directors of the Company which is in line with Regulation 43A of the LODR. The Policy is provided as Annexure ‘A' forming a part of this Board Report and also uploaded on the Company's website at http://www.ltts.com/investors/

Material changes and commitments affecting Financial position of the Company, between the end of the Current Financial Year and the date of the Report

Other than stated elsewhere in this Report, there are no material changes and commitments affecting the financial position of the Company between the end of the current financial year and the date of this Report.

Conservation of Energy, Technology absorption, Foreign Exchange earnings and outgo

Information as required to be given under Section 134(3)(m) of the Act read with Rule 8(3) of the Companies (Accounts) Rules, 2014 is provided in Annexure ‘B' forming part of this Board Report.

Risk Management Policy

The Risk Management Committee comprises of Mr. S. N. Subrahmanyan, Dr. Keshab Panda and Mr. P. Ramakrishnan. Mr. S. N. Subrahmanyan is the Chairman of the Committee.

The Committee is responsible for monitoring and reviewing the risk management plan and ensuring its effectiveness. The Company has formulated a risk management policy and has in place a mechanism to inform the Board Members about risk assessment, including cyber security and minimization procedures and periodical review to ensure that executive management controls risk by means of a properly designed framework. The details of the same are given in Annexure ‘D' Report on Corporate Governance forming part of this Board Report.

A detailed note on risk management and the internal controls with reference to the financial statement is given under the financial review section of the Management Discussion and Analysis on page no. 115 and 120 of the Annual Report.

Corporate Social Responsibility

The Corporate Social Responsibility (CSR) Committee comprises of Mr. Arjun Gupta, Mr. Sudip Banerjee and Dr. Keshab Panda as its Members. Mr. Arjun Gupta is the Chairman of the Committee.

The disclosures required to be given under Section 135 of the Act read with Rule 8(1) of the Companies (Corporate Social Responsibility Policy) Rules, 2014 are provided in Annexure ‘C' to this Board report.

The CSR Policy framework is available on the Company's website https://www.ltts.com/investors/corporate-governance

The details of the Committee are given in Annexure ‘D' Report on Corporate Governance forming part of this Board Report.

During the year under review, the Company has amended the CSR Policy to include Sports and Environment as its CSR theme.

Contribution to the PM Cares Fund to ght the Covid-19 Pandemic

During the year ended March 31, 2020, as part of the L&T Group's resolve to contribute Rs. 1500 million to the Prime Minister's Citizen Assistance and Relief in Emergency Situations Fund i.e. PM (CARES) FUND, your Company as part of its CSR initiative has made a contribution of Rs. 183.09 million and the employees have contributed Rs. 16.91 million to the PM(CARES) FUND.

Policy of ‘Work From Home' implemented for ghting the threat of Covid-19 Pandemic

In line with the Govt of India's directive, State wise guidelines and directives issued by respective countries, and as a protective step for all its employees welfare and safety, the Company had put in place a Policy of "Work From Home" for all its employees from March 23, 2020 at all its Centers and Offices in India and overseas. With the objective of well-being and safety of all its employees, the Senior Management and Business Continuity Team took lot of initiatives and implemented various policies for the benefit of employees. The Human Resource Development Team was constantly in touch with all the employees and regularly gave instructions to the employees to face this Pandemic through advisory emails.

Directors and Key Managerial Personnel Appointed/ Resigned during the year

The terms and conditions of appointment of the Independent Directors are in compliance with the provisions of the Act and LODR and are placed on the website of the Company https://www.ltts.com/investors/corporate-governance.

The notice convening the AGM includes the proposal for appointment / reappointment of Directors.

A. Appointment/Re-appointment of Directors & Key Managerial Personnel:

During the year under review, the following appointments/ re-appointments were made on Board:-

a. Mr. Abhishek, Chief Operating Officer, was appointed as a Whole Time Director for a period of three years with effect from October 18, 2019 upto and including October 17, 2022, subject to the approval of shareholders in the general meeting.

b. Ms. Apurva Purohit was appointed as an Independent Director of the Company with effect from December 11, 2019 for a term of five years up to and including December 10, 2024, subject to the approval of the shareholders in general meeting.

c. Mr. Amit Chadha, President Sales & Business Development and Whole-Time Director of the Company, was appointed as the Deputy Chief Executive Officer & Whole-Time Director of the Company with effect from April 1, 2020.

d. Mr. S. N. Subrahmanyan and Dr. Keshab Panda, Directors, retire by rotation at the ensuing AGM and being eligible, offer themselves for re-appointment.

B. Resignation of Directors & Key Managerial Personnel:

a. Ms. Renuka Ramnath resigned as an Independent Director of the Company on October 18, 2019 due to her other professional commitments. She has confirmed to the Company that there are no other material reasons for her resignation.

b. Mr. Bhupendra Bhate resigned as Chief Operating Officer and Whole Time Director of the Company on May 3, 2019. He was appointed as the Chief Innovation Officer of the Company.

The Board places on record its appreciation towards valuable contribution made by them during their tenure as Directors of the Company.

The Company has also disclosed on its website http://www.ltts.com/investors/ details of the familiarization programs formulated to educate the Directors regarding their roles, rights and responsibilities in the Company and the nature of the industry in which the Company operates, the business model of the Company, etc.

Pursuant to the amendments in the Companies (Appointment and Qualification of Directors) Rules, 2014, all the Independent Directors of the Company have registered themselves with the Databank of Independent Directors and are in the process of appearing for the online proficiency test, wherever required.

The Board is of the view that all the Independent Directors on the Board possess integrity, necessary expertise and experience for performing their functions diligently.

Number of Meetings of the Board of Directors

This information is given in Annexure ‘D' Report on Corporate Governance forming part of this Board Report. Members are requested to refer to page no. 61 of this Annual Report.

Audit Committee

The Company has in place an Audit Committee in terms of the requirements of Section 177 of the Act read with rules made thereunder and Regulation 18 of LODR.

Currently, the Committee comprises of 3 Independent Directors namely, Mr. N. Kumar-Chairman, Mr. Samir Desai and Ms. Apurva Purohit.

During the year under review 4 meetings were held on May 3, 2019, July 19, 2019, October 18, 2019 and January 17, 2020. The details relating to the same are given in Annexure ‘D' Report on Corporate Governance forming part of this Board Report. Members are requested to refer to page no. 65 of this Annual Report.

Company Policy on Directors' Appointment and Remuneration

The Company has in place a Nomination and Remuneration Committee (NRC) in accordance with the requirements of Section 178 of the Act read with rules made thereunder and Regulation 19 of LODR.

The details of the same are given in Annexure ‘D' Report on Corporate Governance forming part of this Board Report. Members are requested to refer to page no. 67 of this Annual Report. NRC has formulated a policy on directors appointment and remuneration including recommendation of remuneration of the key managerial personnel and senior management personnel and the criteria for determining qualifications, positive attributes and independence of a Director and also disclosed the policy on the Company's website http://www.ltts.com/ and is also enclosed to the Board Report as Annexure ‘I'

The Committee has formulated a policy on Board diversity.

Stakeholders' Relationship Committee

The Company has in place a Stakeholders' Relationship Committee in terms of the requirements of the Act read with the rules made thereunder and Regulation 20 of the LODR.

The details of the same are given in Annexure ‘D' Report on Corporate Governance forming part of this Board Report. Members are requested to refer to page no. 70 of this Annual Report.

Declaration of Independence

The Company has received Declarations of Independence from Independent Directors as stipulated under Section 149(7) of the Act confirming that he/she is not disqualified from being appointed or continuing as Independent Director. The same are also displayed on the website of the Company http:// www.ltts.com/investors/investor-download/. The Independent Directors have complied with the Code for Independent Directors prescribed in Schedule IV to the Act.

Adequacy of Internal Financial Controls

The Company has designed and implemented a process driven framework for Internal Financial Controls (‘IFC') within the meaning of the explanation to Section 134(5)(e) of the Act. For the year ended March 31, 2020, the Board is of the opinion that the Company has sound IFC commensurate with the nature and size of its business operations and operating effectively and no material weaknesses exist. The Company has a process in place to continuously monitor the same and identify gaps, if any, and implement new and/or improved controls wherever such gaps would have a material effect on the Company's operations.

Directors' Responsibility Statement

The Board of Directors of the Company confirms that:

a. In the preparation of Annual Accounts, the applicable accounting standards have been followed along with proper explanation relating to material departures;

b. The Directors have selected such accounting policies and applied them consistently and made judgments and estimates that are reasonable and prudent so as to give a true and fair view of the state of affairs of the Company at the end of the financial year and of the profit of the Company for that period;

c. The Directors have taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions of the Companies Act, 2013 for safeguarding the assets of the Company and for preventing and detecting fraud and other irregularities;

d. The Directors have prepared the Annual Accounts on a going concern basis;

e. The Directors have laid down an adequate system of internal financial control to be followed by the Company and such internal financial controls are adequate and operating efficiently;

f. The Directors have devised proper systems to ensure compliance with the provisions of all applicable laws and that such systems were adequate and were operating effectively.

Performance Evaluation of Board, its Committees, Directors and Chairman

The Nomination and Remuneration Committee and the Board have laid down the manner in which formal annual evaluation of the performance of the Board, Committees, Chairman and individual Directors has to be made. All Directors responded through a structured questionnaire giving feedback about the performance of the Board, its Committees, individual Directors and the Chairman.

The Company had engaged an external agency to facilitate the process of annual evaluation of the performance of the Board, Committees, Chairman and the individual Directors. The said external agency was responsible to receive the responses from the Directors, to consolidate and analyze their responses and present the same to the Chairman of the Nomination and Remuneration Committee. The external agency used its IT platform for the entire board evaluation process right from initiation till conclusion in order to ensure that the entire process is done in a confidential, transparent and independent manner without the involvement of the Management or the Company's IT system to ensure an unbiased feedback.

The questionnaires cover the Board composition, its structure, its culture, its effectiveness, its functioning, information availability, adequate discussions etc. These questionnaires also cover specific criteria and the grounds on which all directors in their individual capacity will be evaluated. Evaluation of Independent Directors was done by board including assessment of their performance and their independence of management.

The Board Performance Evaluation inputs were highlighted by the Chairman of Nomination and Remuneration Committee in the Nomination and Remuneration Committee as well as in the Board Meeting held on May 15, 2020. Further, the Chairman of the Nomination and Remuneration Committee apprised the Chairman on the outcome of Board Evaluation and suggested that the individual discussion with the Independent Director can be held, once the lockdown is lifted. Most of the suggestions from the Board Evaluation exercise of FY 2018-19 had been suitably implemented including Directors' Familiarization Programme, fixation of Board calendar in advance and adequate time allocation for meetings etc.

Disclosure of Remuneration

The details of remuneration as required to be disclosed under the Act and the rules made thereunder are given in the Annexure ‘E' forming part of this Board Report.

The information in respect of employees of the Company required pursuant to Rule 5(2) and 5(3) of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014, as amended from time to time, is provided in Annexure ‘F' forming part of this Board Report.

In terms of Section 136(1) of the Act and the rules made thereunder, the Report and Accounts are being sent to the shareholders excluding the aforesaid Annexure. Any Shareholder interested in obtaining copy of the same may write to the Company Secretary at the registered office of the Company. None of the employees listed in the said Annexure is related to any Director of the Company.

Compliance with Secretarial Standards on the Board and General Meetings

The Company has complied with Secretarial Standards issued by the Institute of Company Secretaries of India on Board Meetings and General Meetings.

Protection of Women at Workplace

The Company has constituted an Internal Complaints Committee (‘ICC') - in line with the requirements of the Sexual Harassment of Women at Workplace (Prevention, Prohibition & Redressal) Act, 2013. The ICC has been constituted as per the Act, to redress the complaints received regarding sexual harassment. All employees (permanent, contractual, temporary, trainees) are covered under this policy. During the year under review, 3 cases of sexual harassment were received on Ethics Line. The same were resolved and wherever necessary appropriate action was taken by the Company.

Awareness workshops/training programmes are conducted across the Company to sensitize employees to uphold the dignity of their colleagues at work place especially with respect to prevention of sexual harassment.

Consolidated Financial Statements

Your Directors have pleasure in attaching the Consolidated Financial Statements pursuant to Section 129(3) of the Act and Regulation 34 of the LODR and prepared in accordance with the applicable Accounting Standards prescribed by the Institute of Chartered Accountants of India (ICAI), in this regard.

Auditors' Report

The Auditors' Report to the shareholders does not contain any qualification, observation or comment or adverse remark(s).

Statutory Auditors

In view of the mandatory requirement of the rotation of Auditors and in accordance with the provisions of the Act, Sharp & Tannan, (firm registration number 109982W) Chartered Accountants, were appointed as Statutory Auditors for a period of 4 continuous years from the conclusion of 6th Annual General Meeting (AGM) till the conclusion of 10th AGM of the Company, in the AGM held on August 22, 2018.

Certificate from the Auditors has been received to the effect that they are eligible to act as auditors of the Company and their appointment would be within the limits as prescribed obtained under Section 141 of the Act. The Auditors have confirmed that they have subjected themselves to the peer review process of the Institute of Chartered Accountants of India (ICAI) and hold a valid certificate issued by the Peer Review

The Auditors have also furnished a declaration confirming their independence as well as their arm's length relationship with the Company and declared that they have not taken up any prohibited non-audit assignments for the Company.

The Audit Committee reviews the independence and objectivity of the Auditors and the effectiveness of the Audit process.

For the financial year 2019-20, the total fees paid by the Company and its subsidiaries, on a consolidated basis, to the Auditors and all entitiesinthenetworkfirm/entityof which the Auditors are a part thereof for all the services provided by them is Rs. 4.72 million.

The Auditors attend the AGM of the Company. Also see page no. 73 forming part of Annexure ‘D' of this Board Report.

Secretarial Audit Report

The Board had appointed Mrs. Naina Desai (M. No. F1351), Practicing Company Secretary, to carry out Secretarial Audit under the provisions of Section 204 of the Act for the financial year 2019-20.

The Secretarial Audit Report issued by Mrs. Naina Desai, Practicing Company Secretary, is attached as Annexure ‘G' to this Board Report.

The Secretarial Auditor's Report to the shareholders does not contain any qualification or reservation or adverse remark.

Details of Significant and Material Orders Passed by the Regulators or Courts or Tribunals

During the year under review, there were no significant material orders passed by the Regulators or Courts or Tribunals impacting the going concern status and the Company's operations in future.

Extract of Annual Return

As per the provisions of Section 92(3) of the Act, an extract of the Annual Return in Form MGT-9 is provided in Annexure ‘H' to this Board Report and is also available on the website of the Company http://www.ltts.com/investors/.

Other Disclosures

1. Corporate Governance Report

Pursuant to Regulation 34 read with Schedule V of the LODR, a Report on Corporate Governance and from athecertificate Statutory Auditors confirming compliance, is provided in Annexure ‘D' forming part of this Board Report.

2. Employee Stock Option Scheme

There has been no material change in the Employee Stock of the ICAI.

Option Scheme 2016 (ESOP Scheme 2016) during the current financial year. The ESOP Scheme -2016 is in compliance with the SBEB Regulations. The disclosure relating to the ESOP Scheme-2016 required to be made under the Act and rules made thereunder and the SBEB Regulations togetherwith certificate obtained from the Statutory Auditors, confirming compliance, is provided on the website of the Company http://www. ltts.com/investors/.

The Statutory Auditors' Certificateconfirmingcompliance with the Act and the SBEB Regulations is provided in Annexure ‘D' forming part of this Board Report.

3. No disclosure is required under Section 67(3)(c) of the Act in respect of voting rights not exercised directly by the employees of the Company as the provisions of the said section are not applicable.

4. Credit Rating

The Company enjoys a good reputation for its sound financial management and the ability to meet its financial obligations. The Company has received CRISIL AAA/stable and CRISIL A1+ rating for it's the long term and short term financial instruments of the Company respectively.

5. Vigil Mechanism

As per the provisions of Section 177(9) of the Act, the Company is required to establish an effective Vigil Mechanism for directors and employees to report genuine concerns.

The Company has a Whistle-Blower Policy in place since 2014 to encourage and facilitate employees to report concerns about unethical behaviour, actual/ suspected frauds and violation of Company's Code of Conduct. The Policy provides for adequate safeguards against victimisation of persons who avail the same and provides for direct access to the Chairperson of the Audit Committee. The Audit Committee of the Company oversees the implementation of the Whistle-Blower Policy. The Policy also establishes adequate safeguards to enable employees report instances of leak of unpublished price sensitive information.

The Company has disclosed information about the establishment of the Whistle-Blower Policy on its website http://www.ltts.com/investors/. During the year, no personnel has been declined access to the Audit Committee, wherever desired.

6. Reporting of Frauds

The Auditors of the Company have not reported any instances of fraud committed against the Company by its officers or employees as specified under Section 143(12) of the Act.

7. Business Responsibility Reporting

As per Regulation 34 of LODR, a separate section on Business Responsibility Reporting forms a part of the Annual Report (refer pages 124 to 133) describing initiatives taken by the Company from an environmental, social and governance perspective. The activities carried out by the Company as a part of its CSR initiatives during 2019-20 are covered in the same.

8. Statutory Compliance

The Company complies with all applicable laws, rules and regulations, pays applicable taxes on time, ensures taking care of all its stakeholders, initiates sustainable activities and ensures statutory CSR Spend.

9. MSME

The Ministry of Micro, Small and Medium Enterprises vide their Notification dated November 2, 2018 has instructed all the companies registered under the Act, with a turnover of more than Rupees Five Hundred crore to get themselves onboarded on the Trade Receivables Discounting system platform (TReDS), set up by the Reserve Bank of India. In compliance with this requirement, the Company has registered itself on TReDS through KredX Early.

The Company complies with the requirement of submitting the half yearly return to the Ministry of Corporate Affairs within the specified timelines.

Acknowledgement

Your Directors take this opportunity to thank the customers, vendors, academic institutions, Financial Institutions, Regulatory authorities and Stock Exchanges and all the various stakeholders for their continued co-operation and support to the Company. Your Directors also acknowledge the support and co-operation from the Government of India and the Governments of various countries, the concerned State Governments and other Government Departments and Governmental Agencies. The Directors appreciate the significant contributions made by the employees of the Company and its subsidiaries during the year under review and value the contributions made by every member of the LTTS family globally.

For and on behalf of the Board
Dr. Keshab Panda S. N. Subrahmanyan
CEO & Managing Director Vice Chairman
(DIN: 05296942) (DIN: 02255382)
Place: New Jersey, USA Place: Chennai, India
Date : May 15, 2020 Date : May 15, 2020

 

       

L&T Technology Services Ltd Company Background

A M NaikKESHAB PANDA
Incorporation Year2012
Registered OfficeL&T House N M Marg,Ballard Estate
Mumbai,Maharashtra-400001
Telephone91-22-67525656,Managing Director
Fax91-22-67525893
Company SecretaryKapil Bhalla
AuditorSharp & Tannan
Face Value2
Market Lot1
ListingBSE,NSE,
RegistrarKFin Techologies Pvt Ltd
Karvy Selenium Tow-B,31&32 Financial Dist,Nanakramguda ,Hyderabad-500032

L&T Technology Services Ltd Company Management

Director NameDirector DesignationYear
A M NaikChairman2020
SAMIR THAKORBHAI DESAIIndependent Director2020
S N SubrahmanyanVice Chairman2020
KESHAB PANDAManaging Director2020
Amit ChadhaWhole-time Director2020
Arjun GuptaIndependent Director2020
Sudip BanerjeeIndependent Director2020
Narayanan KumarIndependent Director2020
Kapil BhallaCompany Secretary2020
Abhishek SinhaWhole Time Director & COO2020
APURVA PUROHITIndependent Director2020

L&T Technology Services Ltd Listing Information

Listing Information
BSE_500
BSE_IT
BSE_200
BSEDOLLEX
CNX500
BSESMALLCA
CNXMIDCAP
CNX200
NFTALPHA50
BSEALLCAP
BSESMALLSE
MID150
LMI250
MSL400

L&T Technology Services Ltd Finished Product

Product NameUnit Installed
Capacity
Production
Quantity
Sales
Quantity
Sales
Value
Engineering & Technology Serv.NA 0005181.3
Unspecified NA 0000
Sales NA 0000

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