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L&T Technology Services Limited (LTTS)

₹3,714.60 +0.75% last close, 16 Oct

📊 NSE: LTTS 🏢 Computers - Software - Large 📢 Latest filing: 12 Oct 2026 📝 Analysis written: 14 Dec 2025

Q2 FY27 results

📅 Next results: 19 Oct 2026 (board meeting)

L&T Technology Services Limited's board meets on 19 Oct 2026 to consider its Q2 FY27 results (July-September 2026).

In its latest reported quarter, Q1 FY27, L&T Technology's revenue was ₹2,940 Cr (+2.6% year on year, +2.9% on the previous quarter), and net profit ₹357 Cr (+13.0% year on year); the operating margin was 18.6%.

Q1 FY27 (₹ Cr)	Value	YoY vs Q1 FY26	QoQ
Revenue	₹2,940	+2.6%	+2.9%
Operating profit	₹548	+18.6%	+5.2%
Net profit	₹357	+13.0%	+7.2%
EPS (₹)	33.62	+12.8%	+7.3%
Operating margin	18.6%	—	—

Full quarterly financials → Results calendar →

LTTS delivery percentage

NSE end-of-day data for Fri, 16 Oct 2026

On Fri, 16 Oct 2026, 28.42% of the LTTS shares traded on NSE were taken to delivery, against the stock's own 20-session average of 43.27%. That is lower than usual for this stock.

28.42%Delivery, 16 Oct

43.27%Own 20-session average

1.3×Volume vs its average

₹3,714.60NSE close · +0.75%

Delivery in the last 5 sessions: 32.0% · 37.1% · 42.5% · 39.5% · 28.4%

Delivery across the market →

A description of what the exchange published, not a recommendation. Names such as "accumulation" or "long buildup" label a pattern in the numbers. How delivery is analysed

📢 Recent Corporate Announcements

LTTS Launches Engineering Intelligence Lab with NVIDIA for Digital Manufacturing in Bengaluru

🟡 NEUTRAL ⭐ 4/10

EXPANSION 📅 12 Oct 2026, 03:10 PM

L&T Technology Services has inaugurated an AI-Native Engineering Intelligence (EI) Lab for digital manufacturing at its Bengaluru campus. The facility leverages NVIDIA technologies—including Omniverse, Isaac Sim, and NeMo—to showcase physical AI, digital twins, and autonomous factory operations. It also integrates LTTS's proprietary EIOne platform, which features over 100 EI solutions. While financial capex and immediate revenue additions were not disclosed, the initiative strengthens LTTS's high-tech capabilities across its base of 69 Fortune 500 clients.

Launched AI-Native EI Lab for digital manufacturing and operations at LTTS's Bengaluru campus on October 12, 2026
Integrates LTTS's EIOne platform featuring 100+ Engineering Intelligence solutions and agentic AI swarms
Features NVIDIA accelerated tech stack including Omniverse, Isaac Sim, PhysX, Cosmos, and NeMo
Serves an active client base comprising 69 Fortune 500 and 57 top ER&D companies
Total capital expenditure and direct revenue projections for the lab were not disclosed

💡 Track upcoming quarterly results to assess whether AI-led solutions and labs drive deal TCV conversion and expand the license-based revenue stream beyond its current 1% run rate.

LTTS Board to Consider Q2 FY27 Results and Interim Dividend on October 19, 2026

🟡 NEUTRAL ⭐ 3/10

BOARD_MEETING 📅 24 Sep 2026, 05:04 PM

L&T Technology Services Limited announced that its Board of Directors will meet on October 19, 2026, to review and approve Q2 FY27 unaudited financial results. The board will also consider the declaration of an interim dividend for the half year ending September 30, 2026. Following the meeting, an earnings conference call is scheduled for 17:30 IST on the same day. Additionally, the trading window for designated persons is closed from October 1 to October 21, 2026.

Board meeting scheduled on October 19, 2026, to approve Q2 FY27 results
Board to consider proposal for an interim dividend for H1 FY27
Earnings conference call scheduled for October 19, 2026, at 17:30 hrs IST
Trading window closure in effect from October 1, 2026, to October 21, 2026

💡 Track the outcome of the October 19, 2026 board meeting for Q2 FY27 revenue growth, margin trajectory, and quantum of the interim dividend declared.

LTTS Board to Meet Oct 19, 2026 for Q2 FY27 Results and Interim Dividend Consideration

🟡 NEUTRAL ⭐ 3/10

BOARD_MEETING 📅 24 Sep 2026, 04:20 PM

L&T Technology Services Limited (LTTS) announced that its Board of Directors will meet on Monday, October 19, 2026, to consider and approve unaudited standalone and consolidated Q2 and H1 FY27 financial results. The Board will also consider a proposal to approve an interim dividend on equity shares for the half year ending September 30, 2026. Consequently, the trading window for insiders will be closed from October 1, 2026, through October 21, 2026. The company will host its earnings conference call on October 19, 2026, at 5:30 p.m. IST.

Board meeting scheduled for Monday, October 19, 2026
Results agenda covers Q2 and H1 ending September 30, 2026
Board to consider approval of an interim dividend for H1 FY27
Trading window closed from October 1, 2026, up to October 21, 2026
Earnings conference call set for October 19, 2026, at 5:30 p.m. IST

💡 Track the upcoming board outcome on October 19, 2026, for Q2 FY27 performance figures and the quantum of the declared interim dividend.

LTTS Partners With Cognite for Industrial AI; Certifies 50+ Engineers Across Process Sectors

🟡 NEUTRAL ⭐ 3/10

OTHER 📅 24 Sep 2026, 04:06 PM

L&T Technology Services has announced a strategic partnership with Industrial AI firm Cognite to deliver AI and data solutions targeting asset-intensive sectors like Oil & Gas, Chemicals, and Mining. As part of this tie-up, LTTS set up a dedicated Center of Excellence and certified 50+ engineers. The duo has initiated their first joint deployment for a top 10 global oil and gas company to digitize mechanical integrity workflows. No commercial contract value or upfront financial commitment was disclosed in the filing.

Established a dedicated Cognite Center of Excellence and certified 50+ LTTS engineers
Targeting asset-heavy sectors including Oil & Gas, Chemicals, LNG, CPG/FMCG, and Mining
Commenced first joint project with a global top 10 oil and gas company to digitize mechanical-integrity processes
Financial terms, order value, and revenue potential were not disclosed

💡 Track whether this technology partnership translates into measurable large deal wins (TCVs) in upcoming quarterly earnings updates.

LTTS Schedules Investor Meetings with Anand Rathi and J.P. Morgan on Sep 21-22, 2026

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 15 Sep 2026, 04:45 PM

L&T Technology Services Limited (LTTS) has notified exchanges regarding its participation in two upcoming investor conferences in Mumbai. The company is scheduled to attend the Anand Rathi Annual Flagship Conference G-200 Summit on September 21, 2026, followed by the J.P. Morgan India Conference on September 22, 2026. LTTS confirmed that presentations made at these meetings will align with existing publicly available disclosures on stock exchange and company websites.

Participation in Anand Rathi Annual Flagship Conference G-200 Summit on September 21, 2026
Participation in J.P. Morgan India Conference on September 22, 2026
Both investor interactions are scheduled to be held in Mumbai
Presentations will follow existing publicly disclosed materials with no new unpublished price-sensitive information

💡 Track if any post-meet presentation updates or audio/transcripts are uploaded to exchanges, and monitor upcoming Q2 FY27 earnings for operating performance updates.

LTTS Allots 8,725 Equity Shares Under ESOP Scheme 2016

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 10 Sep 2026, 10:09 AM

L&T Technology Services Limited announced the allotment of 8,725 equity shares of face value of Rs 2 each under its Employee Stock Option Scheme 2016. The allotment was approved by the Nomination & Remuneration Committee via circular resolution on September 9, 2026. The newly allotted shares will rank pari-passu with the existing equity shares of the company. Given the minute volume of shares issued, the dilution impact on the total equity base is negligible.

Allotment of 8,725 equity shares under ESOP Scheme 2016
Shares have a face value of Rs. 2/- each
Approved via circular resolution by the Nomination & Remuneration Committee on September 9, 2026
New equity shares rank pari-passu with existing equity shares

💡 Track total outstanding share capital changes in quarterly shareholding patterns; no specific action required for this routine administrative allotment.

LTTS Receives Stock Exchange Approval to Reclassify Nabha Power to Public Category

🟡 NEUTRAL ⭐ 2/10

REGULATORY 📅 04 Sep 2026, 07:54 PM

L&T Technology Services Limited (LTTS) has received no-objection letters dated September 4, 2026, from both BSE and NSE regarding the reclassification of Nabha Power Limited from 'Promoter Group' to the 'Public' category under Regulation 31A of SEBI LODR Regulations. This approval follows the formal application submitted by LTTS on July 17, 2026, and prior intimations in June and July 2026. The update is purely administrative regarding shareholder classification and carries no operational or financial impact on the company.

BSE and NSE granted No-objection letters on September 4, 2026, under Regulation 31A of SEBI LODR.
Nabha Power Limited reclassified from 'Promoter Group' to 'Public' category.
Follows the formal application submitted to stock exchanges on July 17, 2026.

💡 Educational note: No specific action is required. Investors can verify the updated shareholding classification in the upcoming quarterly shareholding pattern disclosures.

LTTS Shareholders Approve Re-Appointment of Independent Director Luis Miranda with 98.30% Votes

🟡 NEUTRAL ⭐ 3/10

MANAGEMENT 📅 04 Sep 2026, 01:41 PM

L&T Technology Services Limited (LTTS) announced the completion and voting results of its remote e-voting postal ballot on September 4, 2026. Shareholders approved the special resolution for the re-appointment of Mr. Luis Miranda as an Independent Director for a second five-year term effective from October 19, 2026 to October 18, 2031. The resolution was passed with 98.30% of total votes cast in favor (9,29,03,187 votes) and 1.70% against (16,08,443 votes). A total of 89.10% of total outstanding shares were polled during the process.

Special resolution passed with 98.30% votes in favour (9,29,03,187 votes) and 1.70% against (16,08,443 votes)
Re-appointment of Mr. Luis Miranda as Independent Director for a 5-year term from October 19, 2026 to October 18, 2031
Total voting participation stood at 89.10% of outstanding shares (9,45,11,630 total votes polled)
Promoter group voted 100% (7,79,86,899 shares) in favour; Institutional public voted 90.25% in favour

💡 This is a routine corporate governance disclosure requiring no specific portfolio action; track upcoming quarterly operational performance and deal execution updates.

LTTS to Participate in UBS India Summit 2026 on September 10, 2026

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 04 Sep 2026, 12:17 PM

L&T Technology Services Limited has informed the exchanges regarding its scheduled participation in the UBS India Summit 2026 on September 10, 2026, in Mumbai. The company stated that discussions will follow existing publicly available presentations with no unpublished price-sensitive information shared. LTTS currently commands a market cap of ₹36,854 Cr with TTM revenue of ₹11,701 Cr, making this a routine regulatory intimation.

Event: UBS India Summit 2026
Date of Conference: September 10, 2026
Venue: Mumbai
Content: Standard presentation already available on Company/Exchange websites

💡 Track company website or exchange filings for any post-meet presentations or updates regarding business outlook in the Mobility and Tech verticals.

LTTS Completes Sale of Smart World & Communication Business Unit to AMI Paradigm

🟡 NEUTRAL ⭐ 6/10

M&A 📅 01 Sep 2026, 08:24 PM

L&T Technology Services (LTTS) has completed the sale and transfer of its Smart World and Communication (SWC) Business Unit to AMI Paradigm Solutions Private Limited, effective September 1, 2026. This follows the execution of the Business Transfer Agreement (BTA) originally entered into on March 25, 2026. While the specific transaction value was not disclosed in the filing, this divestment concludes the operational separation of the non-core unit, allowing LTTS to sharpen its focus on core ER&D and platform engineering.

Completed sale and transfer of the Smart World and Communication (SWC) Business Unit on September 1, 2026
Divestment executed in favor of AMI Paradigm Solutions Private Limited pursuant to BTA dated March 25, 2026
Transaction consideration and financial terms were not disclosed in the filing

💡 Track the upcoming quarterly financial results for details on any one-off exceptional gains/losses from the transfer and management commentary on operating margin trajectory.

LTTS to Attend Elara India Dialogue 2026 on September 1, 2026

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 26 Aug 2026, 11:55 AM

L&T Technology Services Limited (LTTS) has informed the exchanges that it will participate in the Elara India Dialogue 2026 investor conference on September 1, 2026, in Mumbai. The company confirmed that discussions will rely on already public investor presentations available on exchange websites. No new price-sensitive information or financial changes are introduced in this filing.

Participation scheduled for September 1, 2026, in Mumbai.
Event is the Elara India Dialogue 2026 investor conference.
Company will use presentations already available on the exchange and company websites.
Filing submitted under Regulation 30 of SEBI Listing Regulations on August 26, 2026.

💡 Track standard post-meet disclosures or upcoming quarterly earnings to monitor growth guidance and execution on medium-term targets.

LTTS wins $75M+ 5-year deal from global tech enterprise

🟢 POSITIVE ⭐ 7/10

OTHER 📅 19 Aug 2026, 05:58 AM

L&T Technology Services has secured a 5-year engagement valued at over $75 Million (approx. ₹630+ Cr) from a leading international technology enterprise. Under the contract, LTTS will deploy its Engineering Intelligence (EI) capabilities across product engineering, software development, testing, sustenance, and platform operations. The company will also establish a dedicated Engineering Center for technology and digital functions. The total deal size represents ~5.4% of LTTS's TTM revenue of ₹11,701 Cr, providing steady multi-year revenue visibility.

Contract value is over $75 Million across a 5-year execution timeframe
Scope spans full product lifecycle engineering, software development, validation, and platform operations
Involves setting up a dedicated Engineering Center leveraging full-stack Engineering Intelligence (EI) solutions
International client in the technology sector; no promoter or related-party interest involved

💡 Track execution milestones, revenue ramp-up from this multi-year deal in upcoming quarterly results, and management commentary on large deal pipeline conversion.

LTTS targets 13-15% 5-year revenue CAGR and 16-17% EBIT margin in investor presentation

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 17 Aug 2026, 04:28 PM

L&T Technology Services submitted its updated investor presentation for a Non-Deal Roadshow across Singapore and Hong Kong scheduled for August 18-21, 2026. The company reiterated its medium-term financial target of 13-15% revenue CAGR over the next five years, alongside a 16-17% EBIT margin ambition sustained through cycles. LTTS reported an annualized revenue run rate of $1.24 billion as of Q1 FY27, serving 57 of the top 100 global R&D spenders with approximately 90% repeat business.

Targeting 13-15% revenue CAGR over the next 5 years and 16-17% EBIT margin through the cycle
Annualized revenue reached $1.24 billion as of Q1 FY27 with a global headcount of 23,840+
Portfolio includes 57 of the Global Top 100 R&D spenders and 190+ clients generating >$1 million revenue
Projects global ER&D spend to grow from $1.4-1.8 trillion to $2.5-3.3 trillion by 2030 (8-9% CAGR)

💡 Track execution against the 13-15% revenue CAGR trajectory and monitor margin stabilization in the 16-17% band in upcoming quarterly earnings.

LTTS to conduct Non-Deal Roadshows in Singapore and Hong Kong from August 18-21, 2026

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 12 Aug 2026, 04:56 PM

L&T Technology Services (LTTS) has announced a schedule for in-person Non-Deal Roadshows (NDR) in Singapore and Hong Kong. The meetings are scheduled from August 18 to August 21, 2026, aimed at engaging with institutional investors. The company clarified that the presentations will follow existing public disclosures, indicating no new material non-public information will be shared. This is a standard investor relations activity for a company with a market capitalization of Rs 38,772 Cr.

Singapore Non-Deal Roadshow scheduled for August 18, 2026, to August 19, 2026.
Hong Kong Non-Deal Roadshow scheduled for August 20, 2026, to August 21, 2026.
Total of 4 days dedicated to international institutional investor engagement in Asian financial hubs.
Company confirms presentations will align with existing information already available on exchange websites.

💡 No immediate action required as this is a routine administrative disclosure. Investors may check for any updated investor presentations uploaded to the exchange following these meetings.

75 ESG Score: NSE Sustainability Ratings Revises LTTS Rating Upwards from 74

🟡 NEUTRAL ⭐ 3/10

REGULATORY 📅 11 Aug 2026, 11:35 AM

L&T Technology Services (LTTS) has received an updated ESG score of 75, up from 74, from NSE Sustainability Ratings and Analytics Limited. This independent revision follows the SEBI regulatory framework for ESG rating providers. While the 1.35% increase in score is incremental, it reflects the company's steady performance across Environmental, Social, and Governance parameters. For a company with a market cap of Rs 38,772 Cr and high promoter holding of 73.5%, maintaining a strong ESG profile is essential for attracting institutional capital.

ESG score revised upwards from 74 to 75 by NSE Sustainability Ratings and Analytics Limited
Disclosure made under Regulation 30 of SEBI (LODR) Regulations and Master Circular dated January 30, 2026
The rating is provided by a SEBI-registered ESG Rating Provider (ERP)
LTTS maintains a high promoter holding of 73.52% as of June 2026

💡 No immediate action is required as this is a routine sustainability update. Investors may review the company's next Business Responsibility and Sustainability Report (BRSR) to identify specific improvements in environmental or social metrics.

View All LTTS Announcements on Live Market Tracking →

💰 Financial Performance

Revenue Growth by Segment

Overall revenue grew 10.6% YoY in FY25 to INR 10,670.1 Cr. In Q2 FY26, revenue was INR 2,979.5 Cr, up 15.8% YoY and 4.0% QoQ. Constant currency growth in Q2 FY26 was 10.4% YoY. Segment-specific growth was supported by Sustainability and Tech, while Mobility faced a subdued demand environment in the Automotive sector.

Geographic Revenue Split

Not explicitly disclosed in percentages by region, but the company monitors concentration across geographies and customers to manage risks. Revenue is primarily driven by global ER&D spending patterns in markets including the U.S. and South America.

Profitability Margins

Operating margins have shown a declining trend: 18.3% (FY22), 17.3% (FY23), 17.1% (FY24), and 14.9% (FY25). Q2 FY26 EBIT margin stood at 13.4%, while Net Income margin was 11.0% (INR 328.7 Cr). Margins were impacted by higher operating leverage and acquisition-related integration expenses.

EBITDA Margin

EBITDA for Q2 FY26 was INR 490.8 Cr, representing a 6.1% increase QoQ. The 9M FY25 operating margin moderated to 18.4% from 19.9% in the previous year due to integration costs and shifting market dynamics.

Capital Expenditure

Capital spending is expected to remain moderate and funded through cash accruals. LTTS maintains a debt-free balance sheet with a cash surplus of INR 3,290 Cr as of December 2024. Maintenance capex is limited.

Credit Rating & Borrowing

Crisil Ratings maintains a strong profile with LTTS being net debt-free. Interest coverage ratio was 195.36 in FY24. Borrowing is minimal, primarily consisting of finance lease liabilities of INR 644 Cr as of September 2024.

⚙️ Operational Drivers

Raw Materials

Not applicable as LTTS is a service-based Engineering Research and Development (ER&D) company; its primary 'input' is human capital and intellectual property.

Import Sources

Not applicable; services are delivered through a global delivery model with 56.4% offshore mix in Q2 FY26.

Key Suppliers

Not applicable; however, the company partners with technology providers like NVIDIA, SiMa.ai, and hyperscalers for its technology backbone.

Capacity Expansion

Expansion is driven by headcount and specialized centers. LTTS operates an Offshore Development Center (ODC) for product lifecycle management and is building a centralized Data Factory for a global pharmaceutical leader.

Raw Material Costs

Not applicable; however, 'Cost of Sales' for Q2 FY26 was INR 2,146.2 Cr, which includes employee compensation and project-related expenses.

Manufacturing Efficiency

Offshore delivery mix improved to 56.4% in Q2 FY26. Time & Material (T&M) revenue mix was 61.9%.

📈 Strategic Growth

Expected Growth Rate

10%+

Growth Strategy

Growth will be driven by the 'Go Deeper to Scale' strategy focusing on Mobility, Sustainability, and Tech. The company is investing in Agentic AI and has a medium-term revenue target of USD 2 Billion. Growth is supported by a record TCV of near-USD 300 million in Q2 FY26, including a $100M deal in Sustainability and a $60M deal in Tech.

Products & Services

Engineering Research and Development (ER&D) services, Software Product Development, Platform Engineering, Digital Integration, Data and AI solutions, and Intelligent Well services for oilfields.

Brand Portfolio

L&T Technology Services (LTTS), Intelliswift (acquired).

New Products/Services

Agentic AI solutions and license-based revenue, which now contributes 1% of trailing 12-month revenue.

Market Expansion

Expansion into Software Product Development and Platform Engineering via the USD 110 million acquisition of Intelliswift. Targeting deepwater pre-salt fields in South America and global pharmaceutical data management.

Market Share & Ranking

Positioned as a leader in the global ER&D market; specific percentage ranking not disclosed.

Strategic Alliances

Partnerships with SiMa.ai, NVIDIA, MIT Media Lab, and various hyperscalers to ensure a future-ready technology backbone.

🌍 External Factors

Industry Trends

The ER&D industry is evolving with the emergence of breakthrough technologies like AI and a growing emphasis on ESG. LTTS is positioning itself by integrating AI into its core offerings and targeting the Sustainability segment, which saw 28.1% margins in Q2 FY26.

Competitive Landscape

Competes in the global engineering services market against other specialized ER&D and IT service providers.

Competitive Moat

Moat is built on the 'L&T' brand, engineering domain expertise, and strong parentage (L&T holds 73.6%). The relationship provides access to shared managerial and infrastructure resources, which is highly sustainable due to the strategic importance of LTTS to the L&T group.

Macro Economic Sensitivity

Sensitive to global ER&D spending patterns and macroeconomic uncertainty, which can lead to cost-reduction initiatives by clients.

Consumer Behavior

Shift toward sustainable engineering and AI-driven product development is increasing demand for LTTS's specialized services.

Geopolitical Risks

Geopolitical challenges, tariffs, and trade restrictions impact global supply chains and client spending.

⚖️ Regulatory & Governance

Industry Regulations

Adheres to local laws in multiple jurisdictions, particularly regarding immigration, data protection (GDPR/DPDP), and cybersecurity. Uses an in-house tool to monitor rules across all operating regions.

Environmental Compliance

LTTS has integrated climate and ESG risk assessments into its ERM function. It focuses on water neutrality, carbon-neutral emissions, and biodiversity enhancement.

Taxation Policy Impact

Compliant with Indian Accounting Standards (Ind AS) and the Companies Act, 2013.

Legal Contingencies

Not disclosed in specific INR values, but the company emphasizes adherence to local laws to avoid fines, penalties, and reputational damage.

⚠️ Risk Analysis

Key Uncertainties

Macroeconomic volatility and geopolitical unpredictability are primary risks. A deterioration in the credit profile of the parent (L&T) or a large debt-funded acquisition could negatively impact ratings.