Buy L&T Technology Services; target of Rs 5621: Prabhudas Lilladher

Asia's Tech News Daily

#Buy, L&T Technology Services, #Prabhudas Lilladher, #Recommendations, click here

Prabhudas Lilladher’s research report on L&T Technology Services

LTTS reported strong revenue growth of +5.7% QoQ USD, above our & cons estimates (Ple: 5%, Cons:3%). Growth was led by Industrial Products (+8.6% QoQ USD), Transportation (+6.2% QoQ USD) and strong recovery in Medical devices segment (+9.6% QoQ) after soft performance in last 2 quarters. Consistent improvement in EBIT margin for five consecutive quarters led to highest ever margin of 18.4% +116bps QoQ (Ple: 17.3%, Cons: 17%) despite high supply side cost pressures, driven by productivity gains and revenue growth leverage. We believe that margins may not sustain at these levels and will come back to ~17.3% in 2HFY22 given headwinds from rising attrition, probable wage hike and come-back of travel and facility costs.

Outlook 

We arrive at DCF based TP of INR 5621 (implied target multiple of 44x P/E on FY24 EPS). LTTS is currently trading at 46x/40x on FY23/24 earnings of INR 111/128 respectively with Revenue/EPS CAGR of 19%/23% over FY22-24E.

For all recommendations report, click here

Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

Internet Explorer Channel Network
Asia's Tech News Daily
News Related

OTHER NEWS

Campaign launched to promote digital IDs Platform could have several valuable uses

ETDA is accelerating efforts to improve people’s quality of life through digital tech adoption, says Mr Chaichana. The Electronic Transactions Development Agency (ETDA) has launched a campaign to promote the ... Read more »

It Was a Pretty Good Year in Car Business -- Except for Suppliers Auto-parts suppliers faced myriad cost pressures and largely missed out on industry's heady pricing

Peter Anthony, the head of a Chicago-area auto supplier, has spent much of this year feeling left on the sidelines in an industry delivering solid profits to car makers and ... Read more »

Kohl's Urged to Consider Sale by Activist Investor Activist Engine Capital sends letter also pressing department-store chain to consider a separation of its e-commerce business

Kohl’s in November reported better-than-expected fiscal third-quarter earnings and raised its full-year guidance. Getty Images/AFP An activist investor is urging department-store chain Kohl's Corp. to consider a sale of the company ... Read more »

Asia Biomass banking on shift to greener strategy

Growing concern over greenhouse gas emissions and a business diversification plan are expected to benefit Asia Biomass Plc (ABM), Thailand's largest biomass fuel trader and producer, as its revenue is ... Read more »

Customs mulls non-tariff rule for cheap imports

The Customs Department plans to introduce a non-tariff measure to bridge the disparity between low-priced goods shipped into Thailand that are tax-exempt and goods locally produced by small and medium-sized ... Read more »

Local unicorn trio prove naysayers wrong Timing and developing a market niche helped all three, writes Nuntawun Polkuamdee

Mr Komsan started Flash Express in 2018 with 400 million baht. Within five years, Mr Komsan wants Flash to be a regional top-three firm in the logistics business and targets ... Read more »

The new financial tribes Thai consumers enthusiastic adopters of new digital financial products and services, says financial software specialist Mambu

Some 93% of Thai banking customers say the availability of online or digital services through their bank is important, according to a new report by Mambu, a digital financial services ... Read more »

Luxury car market tabbed for double-digit growth in 2021

The luxury car market in Thailand is expected to keep expanding with double-digit growth this year, despite the impact of lockdown measures implemented to contain the spread of Covid-19. Demand ... Read more »

Volvo urges focus on mass market for EVs Incentives needed for Thais to purchase

The latest car models including electric cars are displayed at this year’s Motor Expo. Pattarapong Chatpattarasill Volvo Cars (Thailand) wants the Thai government to strike a balance between aiming to become ... Read more »

Course operator taps into growing interest in golf

A small three-metre deep potted bunker, called ‘Big Ass,’ at the 18th hole is a highlight of Siam Country Club Bangkok, a new golf course on Bang Na-Trat KM 22 ... Read more »

Squid Game and Parasite tap into public anger over unaffordable housing

Since the Covid-19 pandemic erupted, house prices the world over have gone through the roof. In the fourth quarter of 2019, just before the virus began to spread like wildfire, ... Read more »

Foreign demand still tepid Rebuilding the international tourism market will likely take years, writes Dusida Worrachaddejchai

Foreign tourists arrive at Suvarnabhumi airport on the first day of the country’s reopening, Nov 1. REUTERS The country's reopening on Nov 1 marked the first step towards rebuilding the battered ... Read more »

Starbucks Reserve Roastery Tokyo now serving caramel cappuccino spiked with rum

Kinema Cappuccino contains rum and is topped with caramel popcorn and craft caramel sauce for a touch of texture and sweetness. The Starbucks Reserve Roastery in Tokyo is now serving ... Read more »

Employing an illegal courier? In Belgium, the Public Prosecution Service closes the depot

When the inspectors enter the depot of the postal company GLS in Puurs (a town south-east of Antwerp), the young men reach for their mobile phones at the assembly line ... Read more »

Wall Street closes sharply higher, Omikron worries put aside for a while

Stock markets in New York closed on Monday with significant gains. Investors on Wall Street briefly suppressed concerns about the Omikron variant of the coronavirus and its impact on the ... Read more »

Biden touts savings on insulin and other drugs for Americans

The Associated PressPresident Joe Biden talks with Iesha Meza, who introduced Biden to speak, in the East Room of the White House in Washington, Monday, Dec. 6, 2021. Biden talked ... Read more »

Suntory develops 100% plant-based PET bottle

Suntory, which produces the Orangina brand in Europe and its best-selling bottled mineral water brand in Japan, Suntory Tennensui, aims to use 100 percent sustainable PET bottles globally by 2030. The ... Read more »

Toyota joins race to build batteries in the U.S. 

Automakers want to move battery production as close as possible to their assembly plants, especially now that the supply chain has become a problem. Read more »

Nevada Judge tasked to define what makes Definition of 'Mexican' food in chopped salads dispute

Chop Stop insists that its Viva Mexico Chop salad is not Mexican . A US judge has been tasked to decide what makes cuisine “Mexican” in a Nevada lawsuit that ... Read more »

Delta, Kohl's rise; Moderna, AST SpaceMobile fall

Stocks that traded heavily or had substantial price changes Monday: Del Taco Restaurants Inc., up $4.98 to $12.51. Jack in the Box is paying a big premium to buy the ... Read more »

Wall Street closes up as easing in virus fears aids rebound

NEW YORK (REUTERS) – Wall Street’s major averages closed higher on Monday (Dec 6) with economically sensitive sectors and travel-related stocks soaring as investors were encouraged by some optimistic comments ... Read more »

More and more people in their twenties still live at home, and that is not only due to the housing shortage

Always on demand, a tidy house and ready food every day: when Janis Dek (26) started her first job as an assistant disabled person, she thought it was fine to ... Read more »

Toyota chooses North Carolina to build large battery factory

Photo: ANP Japanese car group Toyota Motor has chosen the US state of North Carolina to build its first electric car battery plant in the United States. The plant will ... Read more »

‘Fat King' gets two years in prison after biodiesel fraud Financial

His company mainly converted frying and waste fats into biodiesel. According to the Amsterdam court, it has been proven that B., known in his sector as the ‘fat king’, committed ... Read more »

3 Meme Stocks Wall Street Predicts Will Continue to Fall

Meme stocks gain based solely on retail investors’ sentiments. Earlier this year, speculative trading on platforms like Robinhood (HOOD) caused the prices of several fundamentally weak stocks to skyrocket. However, ... Read more »

Union Pacific railroad works to cut its carbon emissions

The Associated PressFILE – The crew on a Union Pacific freight train works at a siding, Friday, Jan. 24, 2020, south of Tucson, Ariz. Union Pacific railroad plans to expand ... Read more »

Boeing, travel stocks surge as investors shrug off omicron concerns

An American Airlines passenger jet approaches to land at LAX during the outbreak of the coronavirus disease (COVID-19) in Los Angeles, California, April 7, 2021.Mike Blake | Reuters Boeing, airlines ... Read more »

US oil companies see demand for fossil fuels for a long time to come

Photo: ANP The top executives of major US oil companies expect demand for fossil fuels to continue for decades to come, despite the transition to renewable energy sources. That was ... Read more »

Wildfires produced record-breaking emissions this year from U.S. to Turkey

A Cal Fire firefighter from the Lassen-Modoc Unit watches as an air tanker makes a fire retardant drop on the Dixie Fire as trees burn on a hillside on August ... Read more »

LeBron James' next Nike signature shoe to debut Dec. 19 in Space Jam color scheme

LeBron James’ 19th signature shoe will debut in the “Uniform Hook” makeup on December 19 via the brand’s SNKRS website, according to Nike. The announcement directly references the blue and ... Read more »

Dutch Intertrust merges with American industry partner

Disgruntled investors got their way. The Dutch trust company Intertrust has accepted a takeover offer from its American counterpart CSC and has agreed on the further conditions. It has been ... Read more »

‘The Netherlands was in the picture as the headquarters of the new European telecom giant'

A Dutch head office was considered a serious option for some time in merger talks between telephony giants Orange (France) and Vodafone (Great Britain). This is evident from reports from ... Read more »

Eurogroup agrees 767 million Greek debt relief

Photo: ANP The Eurogroup (finance ministers of the euro countries) has decided to pay out €767 million to Greece for debt relief. It is the sixth time since the country ... Read more »

IMF: ECB must maintain loose monetary policy

Photo: ANP The European Central Bank (ECB) must maintain its accommodative monetary policy, as long as high inflation in the eurozone appears to be temporary. That’s what the International Monetary ... Read more »

U.S. diplomats will boycott Beijing Winter Olympics over human rights abuses

A Chinese flag flutters near the Olympic rings on the Olympic Tower in Beijing, China November 11, 2021.Carlos Garcia Rawlins | Reuters The U.S. on Monday announced a diplomatic boycott ... Read more »

5 tips for starting investors

A record number of households are investing this year, according to research by Kantar. Low interest rates and favorable stock market developments are probably the main reasons for this. For ... Read more »

Manchester City v RB Leipzig: How to Watch, Preview, Team News and Prediction

© Photo by Robbie Jay Barratt – AMA/Getty Images The Champions League is back and the super group matches continue! Manchester City are facing a down on their luck RB ... Read more »

Virgin Active hunts successors for top execs as co-founder's run ends

Matthew Bucknall is stepping down as Virgin Active’s boss, with his successor expected to be based in South Africa, the company’s biggest market, Sky News learns. Read more »

Two years in prison for Veluwe ‘fat king' who committed fraud with biodiesel

What is biodiesel? Biodiesel is a type of biofuel. This can be used pure, but also mixed with diesel based on crude oil. The raw materials of biodiesel are animal ... Read more »

Bitcoin trial: Defendant wins, keeps Bitcoins worth $50B

The Associated PressDr. Craig Wright arrives at the Federal Courthouse, Tuesday, Nov. 16, 2021, in Miami. Wright is in a civil trial with Ira Kleiman. Kleiman claims that his deceased ... Read more »
On free-english-test.com you will find lots of free English exam practice materials to help you improve your English skills: grammar, listening, reading, writing, ielts, toeic