Q1 2025 L&T Technology Services Ltd Earnings Call Transcript
Key Points
- Revenue increased by 6% year-on-year in USD terms.
- Healthy large deal wins, including two $30 million deals and two $15 million deals.
- Significant progress in AI with 61 patents filed and collaborations with NVIDIA, AWS, and Google.
- Mobility segment achieved a $400 million run rate with strong growth in auto and commercial vehicles.
- Strong growth in plant engineering within the sustainability segment, driven by new CapEx projects and digital twin technology.
- Quarter-on-quarter revenue declined by 3% due to seasonality in the Smart World business.
- Industrial sub-segment faced challenges with high supply chain inventory and delayed deal decision-making.
- Hitech segment experienced a decline in EBITDA margin from 15.6% to 12.6% due to seasonality and one-time program completions.
- Free cash flow was negative INR89 crores, impacted by delayed collections and reorganization.
- Overall EBIT margin for the quarter was 15.6%, slightly below the 16% aspiration for FY25.
Ladies and gentlemen, good day, and welcome to the Q1 FY25 conference call of L&T Technology Services Limited. (Operator Instructions) Please note that this conference is being recorded. I now hand the conference over to Mr. Pinku Pappan, Head of Investor Relations. Thank you, and over to you Mr. Puppan.
Thank you, [Dobin]. Hello, everyone, and welcome to the earnings call of L&T Technology Services for the first quarter of FY25. I'm Pinku, heading Investor Relations. Our financial results. investor release, and press release have been filed on the stock exchanges and are also available on our website, www.ltts.com. I hope you've had a chance to go through them. This call for 60 minutes. We will try to wrap up the management remarks in 20 minutes and then open up for Q&A.
The audio recording of this call would be available on our website approximately one hour after this call ends.
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