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Last Updated: April 2, 2026, 3:14 am
Author: Getaka|Social: XLinkedIn
Stock Ticker - BSE: 540115 | NSE: LTTS

L&T Technology Services Ltd: Intrinsic Value & Share Price Analysis

Fair Value

₹2,888.78Overvalued by 13.09%vs CMP ₹3,324.00

P/E (27.4) × ROE (22.2%) × BV (₹584.00) × DY (1.65%)

₹1,710.63Overvalued by 48.54%vs CMP ₹3,324.00
MoS: -94.3% (Negative)Confidence: 63/100 (Moderate)Models: 1 Fair, 8 Over
ModelCategoryValueWeightSignal
PE-ROEEarnings₹3,048.7622%Fair (-8.3%)
Graham NumberEarnings₹1,249.0416%Over (-62.4%)
Earnings PowerEarnings₹933.5013%Over (-71.9%)
DCFCash Flow₹1,586.3913%Over (-52.3%)
Net Asset ValueAssets₹583.877%Over (-82.4%)
EV/EBITDAEnterprise₹2,427.769%Over (-27%)
Earnings YieldEarnings₹1,187.307%Over (-64.3%)
ROCE CapitalReturns₹1,271.619%Over (-61.7%)
Revenue MultipleRevenue₹1,509.925%Over (-54.6%)
Consensus (9 models)₹1,710.63100%Overvalued
Key Drivers: Wide model spread (₹584–₹3,049) — high uncertainty.

PE-ROE · Graham · EPV · DCF · NAV · EV/EBITDA · DDM · Earnings Yield · ROCE Capital · Revenue Multiple | CoE: 12% · Terminal: 4% · EPS CAGR: 5.5%

*Investments are subject to market risks

Investment Snapshot

68
L&T Technology Services Ltd scores 68/100 (Average)
Based on 5 dimensions: health, institutional flow, earnings quality, momentum, and peer comparison
Stock Health88/100 · Strong
ROCE 28.3% ExcellentROE 22.2% ExcellentD/E 0.00 Low debtInterest Coverage 0.0x RiskyProfitable 5/5 years Consistent
Smart Money65/100 · Strong
FII holding stable No changeDII holding up 0.90% MF buyingPromoter holding at 73.6% Stable
Earnings Quality60/100 · Moderate
OPM stable around 19% SteadyWorking capital: 32 days (improving) Efficient
Quarterly Momentum50/100 · Moderate
Revenue (4Q): +15% YoY GrowingProfit (4Q): -3% YoY Declining
Industry Rank65/100 · Strong
P/E 27.4 vs industry 23.7 In-lineROCE 28.3% vs industry 19.3% Above peers3Y sales CAGR: 18% Moderate

Weights: Health 30% · Earnings Quality 25% · Momentum 20% · Industry Rank 15% · Smart Money 10%. Scores are computed from reported financials and recalculated daily. Not investment advice.

Share Price and Basic Stock Data

Last Updated: April 2, 2026, 3:14 am

Market Cap 35,234 Cr.
Current Price 3,324
Intrinsic Value₹3,048.77
High / Low 4,747/3,010
Stock P/E27.4
Book Value 584
Dividend Yield1.65 %
ROCE28.3 %
ROE22.2 %
Face Value 2.00
PEG Ratio4.95

Stock P/E, Current Price, and Intrinsic Value Over Time

View Share Price Target for L&T Technology Services Ltd

Competitors

Stock Name ⇩Market Cap ⇩Current Price ⇩High / Low ⇩Stock P/E ⇩Book Value ⇩Dividend Yield ⇩ROCE ⇩ROE ⇩Face Value ⇩
L&T Technology Services Ltd 35,234 Cr. 3,324 4,747/3,01027.4 5841.65 %28.3 %22.2 % 2.00
Firstsource Solutions Ltd 15,193 Cr. 215 404/20121.6 61.82.56 %15.4 %15.0 % 10.0
eClerx Services Ltd 13,959 Cr. 1,484 2,498/1,05820.9 2790.03 %28.0 %22.8 % 10.0
AXISCADES Technologies Ltd 6,733 Cr. 1,584 1,779/72061.4 1630.00 %13.8 %12.7 % 5.00
eMudhra Ltd 3,257 Cr. 393 908/36531.7 98.20.32 %15.3 %12.1 % 5.00
Industry Average5,854.87 Cr451.9723.74177.460.54%19.34%20.92%7.41

All Competitor Stocks of L&T Technology Services Ltd

Quarterly Result

MetricDec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Sales 2,1572,3712,3012,3862,4222,5382,4622,5732,6532,9822,8662,9802,924
Expenses 1,7211,8901,8491,9111,9342,0352,0062,1072,1582,5072,4042,4892,410
Operating Profit 436480453476488503456466495476462491514
OPM % 20%20%20%20%20%20%19%18%19%16%16%16%18%
Other Income 745048416256626534496866-2
Interest 12111213131313121616161615
Depreciation 59575768727573787382819387
Profit before tax 439462431436466471433441440427432448410
Tax % 32%26%28%28%28%28%27%27%27%27%27%27%26%
Net Profit 298341312316337341314320320310316329303
EPS in Rs 28.1132.2029.4429.8431.7932.2429.6330.2030.4529.3829.7931.0128.55

Last Updated: February 5, 2026, 6:09 am

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: February 24, 2026, 7:46 pm

MetricMar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025TTM
Sales 2,6193,0663,2483,7475,0785,6195,4506,5708,8169,64710,67011,751
Expenses 2,2202,5472,6633,1724,1644,5094,4425,1557,0557,7288,7789,809
Operating Profit 3995195865769151,1101,0071,4151,7611,9191,8921,942
OPM % 15%17%18%15%18%20%18%22%20%20%18%17%
Other Income 258458193223209154152203207210180
Interest 3222236464444515663
Depreciation 48596289104183218214234272305342
Profit before tax 3725425796781,0311,1008971,3091,6861,8041,7411,718
Tax % 16%23%27%25%26%25%26%27%28%28%27%
Net Profit 3114194255077688226669611,2161,3061,2641,259
EPS in Rs 10.3655.8841.7849.3973.6178.3363.1490.68114.77123.28119.64118.73
Dividend Payout % 50%26%29%32%29%27%35%39%39%41%46%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2015-20162016-20172017-20182018-20192019-20202020-20212021-20222022-20232023-20242024-2025
YoY Net Profit Growth (%)34.73%1.43%19.29%51.48%7.03%-18.98%44.29%26.53%7.40%-3.22%
Change in YoY Net Profit Growth (%)0.00%-33.29%17.86%32.19%-44.45%-26.01%63.27%-17.76%-19.13%-10.62%

L&T Technology Services Ltd has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 10 years from 2015-2016 to 2024-2025.

Growth

Compounded Sales Growth
10 Years:15%
5 Years:14%
3 Years:18%
TTM:13%
Compounded Profit Growth
10 Years:15%
5 Years:9%
3 Years:11%
TTM:-3%
Stock Price CAGR
10 Years:%
5 Years:22%
3 Years:5%
1 Year:-26%
Return on Equity
10 Years:27%
5 Years:25%
3 Years:25%
Last Year:22%

Last Updated: September 5, 2025, 9:30 am

Balance Sheet

Last Updated: February 1, 2026, 12:58 am

MonthMar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Sep 2025
Equity Capital 30030020202121212121212121
Reserves 27661,4651,9162,4582,7483,4524,1414,4145,3066,0596,168
Borrowings 969196102707030480477454659578630
Other Liabilities 5076816446968021,5041,1131,4383,2952,4972,9702,913
Total Liabilities 1,7781,9422,2322,7023,3524,3035,0666,0778,1848,4839,6279,732
Fixed Assets 5696216147097801,1741,2821,2831,3031,6132,2452,295
CWIP 01420-091210613288
Investments -0561952215756421,5151,4782,2841,4931,3101,385
Other Assets 1,2081,2521,4211,7721,9972,4792,2573,3074,5905,3656,0456,044
Total Assets 1,7781,9422,2322,7023,3524,3035,0666,0778,1848,4839,6279,732

Reserves and Borrowings Chart

Cash Flow

MonthMar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Cash from Operating Activity + 2895443884098066381,3321,0061,3131,4931,481
Cash from Investing Activity + -667-176-178-196-509-222-1,005-448-578-233-509
Cash from Financing Activity + 464-383-222-132-245-406-363-498-445-658-718
Net Cash Flow 86-15-12815210-3660290602254
Free Cash Flow 2364183433247184871,2578511,1341,2511,379
CFO/OP 89%137%93%101%119%77%157%96%101%105%104%

Free Cash Flow

MonthMar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Free Cash Flow-570.00323.00484.00506.00845.00-29.00-479.00-476.00-453.00-658.00-577.00

Free Cash Flow = Income Generated from Operational Activities - Borrowings - Capital Work in Progress (CWIP)

Consistent positive free cash flow is crucial for businesses as it indicates their ability to generate cash from their core operations. It provides financial flexibility, allowing companies to invest in growth opportunities, pay dividends to shareholders, reduce debt, and weather economic downturns more effectively.

Free Cash Flow Chart

Financial Efficiency Indicators

MonthMar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Debtor Days 9686809476908394898286
Inventory Days
Days Payable
Cash Conversion Cycle 9686809476908394898286
Working Capital Days 6718487052664449113832
ROCE %43%41%38%45%43%27%31%36%34%28%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthMar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Promoters 73.85%73.80%73.77%73.75%73.74%73.69%73.69%73.66%73.66%73.59%73.58%73.58%
FIIs 6.69%5.31%5.89%5.63%5.52%4.46%4.35%4.19%5.18%4.84%4.67%4.22%
DIIs 8.41%10.37%10.77%11.33%12.09%13.07%13.72%14.30%13.67%13.86%14.13%14.57%
Public 11.06%10.51%9.55%9.29%8.65%8.77%8.24%7.85%7.47%7.69%7.63%7.62%
No. of Shareholders 2,97,5692,84,6462,66,5712,57,3962,43,3742,54,7322,36,0002,31,0672,19,5732,23,3182,21,8112,31,406

Shareholding Pattern Chart

No. of Shareholders

L&T Technology Services Ltd: Intrinsic Value & Share Price Analysis - Shareholder trend analysis

Mutual Fund Holdings

Fund NameNo of SharesAUM (%)Amount Invested (Cr)Previous Number of SharesPrevious DatePercentage Change
SBI Midcap Fund 1,000,000 1.66 372.28N/AN/AN/A
ICICI Prudential Technology Fund 381,678 0.92 142.09451,6782026-01-26 00:19:31-15.5%
Sundaram Mid Cap Fund 358,267 1.03 133.38328,3272026-02-23 01:48:339.12%
SBI Dividend Yield Fund 320,000 1.34 119.13320,0002025-04-22 17:25:280%
Axis Midcap Fund 271,900 0.33 101.22306,0042026-02-23 01:48:33-11.14%
HDFC Multi Cap Fund 254,301 0.49 94.67188,6672026-01-25 00:37:4134.79%
SBI Technology Opportunities Fund 200,000 1.47 74.46N/AN/AN/A
Canara Robeco Mid Cap Fund 167,267 1.53 62.27130,0532025-12-15 01:31:0128.61%
SBI ESG Exclusionary Strategy Fund 165,000 1.11 61.43200,0002025-12-15 01:31:01-17.5%
SBI Retirement Benefit Fund - Aggressive Plan 111,000 1.35 41.32111,0002025-04-22 17:25:280%

ROCE Trend

EPS Trend

Key Financial Ratios

MonthMar 25Mar 24Mar 23Mar 22Mar 21
FaceValue 2.002.002.002.002.00
Basic EPS (Rs.) 119.70123.34110.8090.9263.32
Diluted EPS (Rs.) 119.44123.34110.4890.7462.90
Cash EPS (Rs.) 148.00148.86133.23111.3784.27
Book Value[Excl.RevalReserv]/Share (Rs.) 573.58502.56470.99395.85331.73
Book Value[Incl.RevalReserv]/Share (Rs.) 573.58502.56470.99395.85331.73
Revenue From Operations / Share (Rs.) 1006.61910.12759.58622.72519.02
PBDIT / Share (Rs.) 198.35200.59181.87148.56110.58
PBIT / Share (Rs.) 169.55174.97159.92128.2489.79
PBT / Share (Rs.) 164.22170.17155.80124.0985.46
Net Profit / Share (Rs.) 119.20123.24111.2991.0563.48
NP After MI And SOA / Share (Rs.) 119.50122.99110.8890.7163.17
PBDIT Margin (%) 19.7022.0423.9423.8521.30
PBIT Margin (%) 16.8419.2221.0520.5917.30
PBT Margin (%) 16.3118.6920.5119.9216.46
Net Profit Margin (%) 11.8413.5414.6514.6212.23
NP After MI And SOA Margin (%) 11.8713.5114.5914.5612.17
Return on Networth / Equity (%) 20.8324.4723.6222.9919.09
Return on Capital Employeed (%) 27.0131.1631.2228.7123.72
Return On Assets (%) 13.1315.3516.9115.7113.07
Asset Turnover Ratio (%) 1.181.251.131.091.09
Current Ratio (X) 2.162.463.403.143.19
Quick Ratio (X) 2.162.453.403.143.19
Inventory Turnover Ratio (X) 2963.920.000.000.000.00
Dividend Payout Ratio (NP) (%) 41.7738.0927.0737.9633.13
Dividend Payout Ratio (CP) (%) 33.6631.5322.6031.0124.93
Earning Retention Ratio (%) 58.2361.9172.9362.0466.87
Cash Earning Retention Ratio (%) 66.3468.4777.4068.9975.07
Interest Coverage Ratio (X) 37.2141.7744.1135.8625.52
Interest Coverage Ratio (Post Tax) (X) 23.3626.6627.9922.9815.65
Enterprise Value (Cr.) 46161.2456720.8534950.1853166.1327652.80
EV / Net Operating Revenue (X) 4.335.884.368.095.07
EV / EBITDA (X) 21.9626.6818.2233.9223.82
MarketCap / Net Operating Revenue (X) 4.476.024.458.195.12
Retention Ratios (%) 58.2261.9072.9262.0366.86
Price / BV (X) 7.8510.907.2012.938.03
Price / Net Operating Revenue (X) 4.476.024.458.195.12
EarningsYield 0.020.020.030.010.02

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

About the Company - Qualitative Analysis

L&T Technology Services Ltd. is a Public Limited Listed company incorporated on 14/06/2012 and has its registered office in the State of Maharashtra, India. Company's Corporate Identification Number(CIN) is L72900MH2012PLC232169 and registration number is 232169. Currently Company is involved in the business activities of Computer programming, consultancy and related activities. Company's Total Operating Revenue is Rs. 9533.10 Cr. and Equity Capital is Rs. 21.20 Cr. for the Year ended 31/03/2025.
INDUSTRYADDRESSCONTACT
IT Enabled ServicesL&T House, Mumbai Maharashtra 400001Contact not found
Management
NamePosition Held
Mr. S N SubrahmanyanChairman
Mr. Amit ChadhaManaging Director & CEO
Mr. Abhishek SinhaExecutive Director & President
Mr. Alind SaxenaExecutive Director & President
Dr. Keshab PandaNon Executive Director
Mr. Sudip BanerjeeIndependent Director
Mr. Narayanan KumarIndependent Director
Mr. Luis MirandaIndependent Director
Ms. Apurva PurohitIndependent Director
Mr. Chandrasekaran RamakrishnanIndependent Director
Ms. Aruna SundararajanIndependent Director

FAQ

What is the intrinsic value of L&T Technology Services Ltd and is it undervalued?

As of 03 April 2026, L&T Technology Services Ltd's intrinsic value is ₹1710.63, which is 48.54% lower than the current market price of ₹3,324.00, suggesting the stock is overvalued. This is calculated using the PE ratio method factoring in ROE (22.2 %), book value (₹584), dividend yield (1.65 %), and 5-year EPS CAGR.

What is the current share price and 52-week range of L&T Technology Services Ltd?

L&T Technology Services Ltd is trading at ₹3,324.00 as of 03 April 2026, with a FY2026-2027 high of ₹4,747 and low of ₹3,010. The stock is currently near its 52-week low. Market cap stands at ₹35,234 Cr..

How does L&T Technology Services Ltd's P/E ratio compare to its industry?

L&T Technology Services Ltd has a P/E ratio of 27.4, which is above the industry average of 23.74. The premium over industry average may reflect growth expectations or speculative interest.

Is L&T Technology Services Ltd financially healthy?

Key indicators for L&T Technology Services Ltd: ROCE of 28.3 % indicates efficient capital utilization; ROE of 22.2 % shows strong shareholder returns. Dividend yield is 1.65 %.

Is L&T Technology Services Ltd profitable and how is the profit trend?

L&T Technology Services Ltd reported a net profit of ₹1,264 Cr in Mar 2025 on revenue of ₹10,670 Cr. Compared to ₹961 Cr in Mar 2022, the net profit shows an improving trend.

Does L&T Technology Services Ltd pay dividends?

L&T Technology Services Ltd has a dividend yield of 1.65 % at the current price of ₹3,324.00. The company pays dividends, though the yield is modest.

Disclaimer: This article is for informational purposes only and should not be construed as financial advice. The author is not a SEBI registered financial advisor and does not have any vested interest in L&T Technology Services Ltd. Investors are advised to conduct their own due diligence and consult with a financial professional before making any investment decisions. The information provided in this article is based on publicly available data and the author's analysis, but it may not be comprehensive or up-to-date. The author and getaka.co.in are not responsible for any errors or omissions in the content. This article is not intended to promote any particular investment strategy or recommendation, and readers should consult with their own financial advisors before making any investment decisions. Data Source: NSE
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