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L&T Technology Services Ltd

| Audited Consolidated Assets & Liabilities as at March 31, 2026

Report Source

⬤22nd Apr 26

Summary : L&T Technology Services reported positive FY26 results, declared dividend, and strengthened board.

Quarterly Report Analysis & Insights

Financial Disclosures

  1. Consolidated Employee Benefits Expense FY26: 64,574 Million
  2. Consolidated Other Expenses FY26: 26,035 Million
  3. Consolidated Depreciation and Amortisation Expenses FY26: 3,452 Million
  4. Consolidated Finance Costs FY26: 641 Million
  5. Standalone Employee Benefits Expense FY26: 51,660 Million
  6. Standalone Other Expenses FY26: 22,843 Million
  7. Standalone Depreciation and Amortisation Expenses FY26: 2,661 Million
  8. Standalone Finance Costs FY26: 596 Million
  9. Consolidated Total Income FY26: 112,171 Million (FY25: 98,515 Million)
  10. Consolidated Segment Revenue FY26: Mobility 35,077 Million, Sustainability 38,284 Million, Tech 36,598 Million
  11. Standalone Total Income FY26: 94,223 Million (FY25: 87,156 Million)
  12. Standalone Segment Revenue FY26: Mobility 31,126 Million, Sustainability 38,214 Million, Tech 22,731 Million
  13. Consolidated Net cash from operating activities FY26: 14,551 Million (FY25: 14,811 Million)
  14. Consolidated Net cash used in investing activities FY26: (4,428 Million) (FY25: (5,094 Million))
  15. Consolidated Net cash used in financing activities FY26: (7,995 Million) (FY25: (7,182 Million))
  16. Standalone Net cash from operating activities FY26: 12,717 Million (FY25: 14,284 Million)
  17. Standalone Net cash used in investing activities FY26: (3,091 Million) (FY25: (5,543 Million))
  18. Standalone Net cash used in financing activities FY26: (7,824 Million) (FY25: (7,047 Million))
  19. Consolidated Total Assets FY26: 104,889 Million (FY25: 96,435 Million)
  20. Consolidated Equity FY26: 64,922 Million (FY25: 60,975 Million)
  21. Consolidated Non-current Liabilities FY26: 7,611 Million (FY25: 5,560 Million)
  22. Consolidated Current Liabilities FY26: 25,715 Million (FY25: 29,900 Million)
  23. Consolidated Assets classified as held for sale FY26: 9,871 Million
  24. Consolidated Liabilities directly associated with assets held for sale FY26: 6,641 Million
  25. Standalone Total Assets FY26: 96,925 Million (FY25: 88,623 Million)
  26. Standalone Equity FY26: 59,271 Million (FY25: 57,482 Million)
  27. Standalone Non-current Liabilities FY26: 7,325 Million (FY25: 5,167 Million)
  28. Standalone Current Liabilities FY26: 23,688 Million (FY25: 25,974 Million)
  29. Standalone Assets classified as held for sale FY26: 9,871 Million
  30. Standalone Liabilities directly associated with assets held for sale FY26: 6,641 Million
  31. L&T Technology Services is a subsidiary of Larsen & Toubro Limited
  32. Both standalone and consolidated financial results are provided and audited.

Corporate Overview

  1. Clients worldwide
  2. Asia, Europe, North America
  3. United States, Asia Pacific, India
  4. Material increase in provision for employee benefits due to new Labour Codes
  5. Restructuring initiatives leading to exceptional items
  6. Challenging geopolitical waters (G20 context)
  7. Subsidiary of Larsen & Toubro Limited
  8. Pure-play engineering services company
  9. Factual and formal reporting of board decisions and financial results
  10. Fortune 500 clients
  11. Mobility
  12. Sustainability
  13. Tech

Risk Factors

  1. New Labour Codes increase employee benefit provisions.
  2. Restructuring initiatives incur significant exceptional expenses.
  3. Geopolitical challenges affect global business environment.
  4. Future regulatory clarifications may impact operations.

Key Drivers

  1. Recommended final dividend of Rs. 40.
  2. Key executive and independent director appointments.
  3. Auditors issued unmodified opinion on financials.
  4. Strategic business unit transfer completed.

Auditor’s Report

  1. Unmodified opinion on audited standalone and consolidated financial results

Board Commentary

  1. Re-appointment of M/s. Aneja & Associates as Internal Auditor for one year (May 3, 2026 - May 2, 2027)
  2. Re-appointment of Mr. Alind Saxena as Executive Director & President-Strategic Initiatives and Growth Markets for three years (April 26, 2026 - April 25, 2029)
  3. Appointment of Mr. Rajeev Gupta as Additional Director, Executive Director & Chief Financial Officer for three years (April 22, 2026 - April 21, 2029)
  4. Appointment of Mr. Amitabh Kant as Independent Director for five years (April 22, 2026 - April 21, 2031)
  5. Recommended final dividend of Rs. 40/- per equity share for FY 2026
  6. Dividend payable within 30 days after shareholder approval at AGM
  7. Material increase in provision for employee benefits due to new Labour Codes
  8. Restructuring initiatives leading to exceptional items
  9. Compliance with SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
  10. Compliance with Section 138 and 133 of the Companies Act, 2013
  11. Compliance with Companies (Indian Accounting Standards) Rules, 2015
  12. Impact of new Labour Codes (Code on Wages, Industrial Relations, Social Security, Occupational Safety, Health and Working Conditions Code) on employee benefits
  13. Business Transfer Agreement on March 25, 2026, to transfer Smart World and Communication (SWC) Business unit to AMI Paradigm Solutions Private Limited
  14. Assets classified as held for sale: 9,871 Million
  15. Liabilities directly associated with assets held for sale: 6,641 Million

Corporate Governance

  1. Appointment of Mr. Amitabh Kant as Independent Director
  2. Audit Committee
  3. Nomination and Remuneration Committee

Management Discussion & Analysis

Future Strategy

  1. Expansion into key geographical markets
  2. Driving large-deals engine

Macroeconomic Outlook

  1. Challenging geopolitical waters

Performance Drivers

  1. Building strong client relationships
  2. Enhancing deal pipeline
  3. Winning transformative projects
  4. Nurturing innovative solutions
  5. Building technology-driven presence in verticals and markets
  6. Shaping financial health and driving profitable growth
  7. Fostering financial excellence culture

Critical Risks

  1. Impact of new Labour Codes on employee benefits provisions
  2. Exceptional expenses from restructuring initiatives
L&T Technology Services Ltd (LTTS) Quarterly Report Analysis & Insights | Dhanarthi