Motilal Oswal's research report on Larsen and Toubro Technology
L&T Technology’s (LTTS) 1QFY26 revenue declined 2.8% QoQ in USD terms vs. our estimate of ~1.1% QoQ decline. In CC terms, revenue was down 4.2% QoQ. Sustainability grew 4.1% QoQ, while Hi-Tech/Mobility was down 8.5%/1.5% QoQ. EBIT margin stood at 13.3% vs. our estimate of 12.8%. Adj. PAT stood at INR3.1b (est. INR3.0b), up 1.5% QoQ/1.0% YoY. For 1QFY26, revenue/EBIT declined 3.9%/1.0%, while PAT grew 1% YoY in INR terms. We expect revenue/EBIT to grow 2.5%/1.6%, while PAT to remain flat YoY in 2QFY26.
Outlook
We reiterate our Neutral rating on the stock with a revised TP of INR4,300 (based on 27x FY27E EPS).
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.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
Find the best of Al News in one place, specially curated for you every weekend.
Stay on top of the latest tech trends and biggest startup news.
