L&T Technology Services Ltd.

Financial

	L&T Technology Serv.	Mphasis	Tata Elxsi
Operational Metrics
IT
Net Sales by Employee Cost	1.89 .	1.76 .	1.75 .
Constant Currency Growth - YoY	14.2 %	5.4 %	-2.9 %
Financials
5 yr Average ROE	22.94 %	19.05 %	22.69 %
5yr average Equity Multiplier	1.59	1.49	1.87
5yr Average Asset Turnover Ratio	1.1	1.07	1.55
5yr Avg Net Profit Margin	13.17 %	12.0 %	7.8 %
Price to Book	7.74	5.23	13.92
P/E	37.16	29.57	50.73
5yr Avg Cash Conversion Cycle	80.39 Days	67.54 Days	-908.87 Days
Inventory Days	0.06 Days	0.0	0.14 Days
Days Receivable	80.27 Days	67.54 Days	66.54 Days
Days Payable	4.04 Days	6.24 Days	432.72 Days
5yr Average Interest Coverage Ratio	31.78	21.06	63.65
5yr Avg ROCE	29.26 %	24.63 %	30.08 %
5yr Avg Operating Profit Margin	19.21 %	17.9 %	13.85 %
5 yr average Debt to Equity	0.0	0.1	0.12
5yr CAGR Net Profit	13.81 %	6.94 %	25.69 %
5yr Average Return on Assets	14.44 %	12.79 %	11.9 %
Shareholdings
Promoter Holding	73.66 %	40.14 %	43.91 %
Share Pledged by Promoters	0.0	0.0	0.0
Change in Promoter Holding (3 Yrs)	-0.24 %	-15.66 %	-0.17 %
Change in Mutual Fund Holding (3 Yrs)	-0.43 %	9.53 %	-1.09 %

Business

	L&T Technology Serv.	Mphasis	Tata Elxsi
Product Wise Break-Up	Product Wise Break-Up Software Services 100.0 License income 0 Customer service 0 Transaction processing service 0 Service / Technical helpdesk 0 Business Process Services 0 Infrastructure management services 0 Application maintenance 0 Application development 0 System integration & support services 0 Software development & services 0	Product Wise Break-Up Service / Technical helpdesk 0 Application Maintenance 71.86 Application development 0 System integration & support services 0 Software development & services 0 Infrastructure Management Services (IMS) 12.79 Customer service 0 License income 0 Transaction processing service 0 Business Process Services 15.35 Software Services 0	Product Wise Break-Up Service / Technical helpdesk 0 Application maintenance 0 Application development 0 System Integration 3.4 Software Services 96.6 Infrastructure management services 0 Customer service 0 License income 0 Transaction processing service 0 Business Process Services 0 Software Services 0
Location Wise Break-Up	Location Wise Break-Up North America 51.9 India 24.4 Europe 16.5 Rest of the World 7.2 EMEA 0 USA 0	Location Wise Break-Up Rest of the World 7.91 North America 0 India 0 USA 82.09 EMEA 10.0 Europe 0	Location Wise Break-Up Rest of the World 0 North America 0 India 22.4 USA 30.6 EMEA 0 Europe 37.9 Others 9.1
Verticals	Verticals Telecom & Hi-Tech 41.96 Transportation 29.26 Sustainability 28.78 Medical Devices 0 Industrial Products 0 Plant Engineering 0 Logistics & Transportation 0 Emerging Industries 0 0 Insurance 0 Banking and Capital Market 0 SI & Others 0 Industrial Design 0 Healthcare 0 Media & Communication 0 Automotive / Transportation 0	Verticals Media & Communication 0 Banking 50.11 Medical Devices 0 SI & Others 0 Telecom & Hi-Tech 0 Logistics 11.42 Industrial Products 0 Plant Engineering 0 Insurance 10.95 Transportation 0 Sustainability 0 Industrial Design 0 Emerging Industries 0 Healthcare 0 Automotive / Transportation 0 Software Services 17.79 Others 9.73	Verticals Media & Entertainment 32.4 Banking and Capital Market 0 Medical Devices 0 SI & Others 0 Telecom & Hi-Tech 0 Logistics & Transportation 0 Industrial Products 0 Plant Engineering 0 Insurance 0 Transportation 0 Sustainability 0 Industrial Design 0 Emerging Industries 0 Healthcare 13.0 Automobile 53.4 0 Others 1.2
Operating Profit Break-Up	Operating Profit Break-Up Sustainability 40.58 Transportation 33.56 Telecom & Hi-Tech 25.87 Plant Engineering 0 Medical Devices 0 Industrial Products 0 Insurance 0 0 Logistics and Transportation 0 Banking and Capital Market 0 System integration & support services 0 Software development & services 0	Operating Profit Break-Up Banking and Capital Market 51.01 Medical Devices 0 System integration & support services 0 Software development & services 0 Telecom & Hi-Tech 0 Logistics 14.13 Plant Engineering 0 Industrial Products 0 Insurance 11.98 Transportation 0 Sustainability 0 Software Services 12.83 Others 10.05	Operating Profit Break-Up Banking and Capital Market 0 Medical Devices 0 System integration & support services 0.91 Software development & services 99.09 Telecom & Hi-Tech 0 Logistics and Transportation 0 Plant Engineering 0 Industrial Products 0 Insurance 0 Transportation 0 Sustainability 0 0
Onsite vs Offsite	Onsite vs Offsite Offshore 55.8 Onsite 44.2	Onsite vs Offsite Onsite 53.37 Offshore 46.63	Onsite vs Offsite Onsite 25.9 Offshore 74.1
Client Break-Up	Client Break-Up $1 mn clients 46.08 $5 Mn+ 14.01 $10 mn clients 7.6 $20 Mn+ 2.61 30 Million dollar + 1.43 50 Million dollar + 0 >100M 0 >75M 0 >50M 0 >20M 0 >10M 0 >5M 0 >1M 0 Others 28.27	Client Break-Up >20M 4.53 30 Million dollar + 0 50 Million dollar + 0 >100M 1.23 >75M 2.06 >1M 57.2 $20 Mn+ 0 >50M 2.06 >5M 20.58 >10M 11.93 $1 mn clients 0 $5 Mn+ 0 $10 mn clients 0 Others 0.41	-
Contract Type	Contract Type Time & Material 60.1 Fixed Price Contracts 39.9 Transaction Based 0 Fixed price 0 Time and material 0 T&M 0	Contract Type T&M 0 Transaction Based 10.18 Fixed Price Contracts 0 Time & Material 58.25 Time & Material 0 Fixed Price Contracts 31.57	Contract Type Time & Material 49.3 Transaction Based 0 Fixed Price Contracts 0 Time and material 0 Time & Material 0 Fixed Price Contracts 50.7

L&T Technology Services Ltd.

L&T Technology Services Ltd.

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