Continuing The Expansion Drive, “V-Trans Opens New Offices Across The South Region”

* V-Trans Boosts Its Growth By Launching 10 New Branches In South Zone  

V-Trans (India) Ltd, a preferred single window logistics solution provider accelerates its growth by announcing eight new branches in South India with a deeper penetration in business verticals. Out of the 10 new launches 6 are in Telangana, which are in Piduguralia, Bodupal, IDA Cherllapally, Jadcherla, Kattedan, and in Secunderabad. The remaining new branches are in Coimbatore – Pathanamthitta, Karnataka – Peenya-2, Dabaspeth – Bengaluru, and Malur- Bengaluru. The new branches are launched considering the unserved geographies and the increase in demand for logistics solutions.  

With this expansion, the south region now has a total number of close to 200 branches and 8 transhipment centers for V-Trans. With the opening of these new branches, the company will be able to augment its services further to the southern region of India. V-Trans is enabled with best-in-the-business infrastructure and has a presence across the nation with more than 850 branches, 50 Transhipment centers, and a fleet strength of over 1500 advanced trucks with a track and trace facility.  

V-Trans is serving varied industry-based manufacturing clients for over six decades. The company enables manufacturing by providing a logistics edge to its clients of different sizes - small, medium, or big, with customized solutions. V-Trans Group services are available round the clock at all branches for ensuring fast-paced delivery with accuracy. The new advanced ERP system provides connectivity to all locations and enhances visibility, clubbed with well-trained staff to oversee the cargo throughout the journey.  

The expansive network across the country, technology integration in processes, and customized solutions for specific requirements of clients of different natures and industries, all these factors, make V-Trans a preferred single window logistics solution provider of the nation and in SAARC countries.  

Commenting on this, Mr. Mahendra Shah, Chairman, and Managing Director, V-Trans (India) Ltd, “The South region is an important market for V-Trans to grow its network and business. V-Trans has a strong business demand in this part of the country. We are expanding our new offices in all the important states of the South region. V-Trans maintains a good presence in all the states like Karnataka, Tamil Nadu, Andhra Pradesh, Telangana, and Kerala. We have a successful secondary distribution model in the Karnataka market and aim to build a similar dense penetrated network in other states of this region as well.” Further, he said, “With the growing manufacturing and increased consumption, there are good opportunities for us to expand our market in this region.” 

LTIMindtree Reports Strong Performance In Quarter 3 FY2023

* Constant Currency Revenue up 16.3% YoY; Order Inflow at USD 1.25 billion 

LTIMindtree [NSE: LTIM, BSE: 540005], a global technology consulting and digital solutions company, announced its consolidated results today for the third quarter ended December 31, 2022, as approved by its Board of directors.

“We are pleased to report a strong Q3 FY23, our first as LTIMindtree,” said Debashis Chatterjee, Chief Executive Officer and Managing Director of LTIMindtree. “The combined entity has started out with a USD 1 billion quarterly revenue run rate, a top-quartile constant currency year-over-year revenue growth of 16.3%, and a robust order inflow of USD 1.25 billion. Our performance speaks to our steadfast client focus through the merger and our resilient client and solutions portfolio. Clients across sectors are evincing keen interest in our unique value proposition spanning core to experience to edge. The client imperative to dial up technology-led innovation for future-readiness holds significant long-term upside for our full-stack offerings and cross-industry exposure, boosting our endeavour to deliver industry-leading revenue growth in the future as well.”

Key financial highlights:

Quarter ended December 31, 2022

In USD:

-          Revenue at $1,046.7 million (growth of 2.4% q-o-q / 14.0% y-o-y)

-          Net profit at $121.5 million (decline of 17.7% q-o-q / 13.3% y-o-y)

In INR:

-          Revenue at Rs 86,200 million (growth of 4.8% q-o-q / 25.3% y-o-y)

-          Net profit at Rs 10,007 million (decline of 15.8% q-o-q / 4.7% y-o-y)

Other highlights:

Clients:

-          723 active clients as of December 31, 2022

-          $1 million+ clients increased by 13, total 374

-          $5 million+ clients increased by 7, total 144

-          $10 million+ clients increased by 4, total 81

People:

-          86,462 professionals as of December 31, 2022

-          Trailing 12 months attrition was 22.3%

Deal Wins

·         A leading digital marketplace offering end-to-end solutions for the automotive industry signed a multiyear deal with LTIMindtree as its anchor digital transformation partner to consolidate all digital initiatives for enhancing efficiencies and accelerating time-to-market.

·         A leading public utility company based in North America chose LTIMindtree as a long-term strategic partner for an infrastructure and cloud managed services deal.

·         An energy and utilities company selected LTIMindtree to enable its digital transformation journey towards green energy.

·         A North American energy company signed a managed services deal with LTIMindtree for a data, cloud-enablement, and infrastructure program.

·         A leading global provider of transportation solutions selected LTIMindtree to modernize its core operations leveraging a cloud-based business applications platform.

·         A North American P&C insurer selected LTIMindtree as a strategic partner for driving the transition from Quality Assurance to Quality Engineering. As part of this deal, LTIMindtree will drive an automation-first mindset to deliver efficiency and productivity improvements.

·         A leading hospitality company awarded LTIMindtree a multiyear contract to provide agile-based product development, testing, and support services.

·         A Canada-based automobile manufacturer signed a multiyear Application Management Services deal with LTIMindtree.

·         A leading semiconductor manufacturer and technology provider selected LTIMindtree for a multiyear contract to provide platform-led, end-user services globally.

Recognitions

·         LTIMindtree Syncordis recognised as Temenos Global Delivery Partner.

·         Honoured as Global Collaboration Partner of the Year by Amazon Web Services (AWS).

·         Recognised as the 2023 ServiceNow Americas Emerging Service Provider Partner of the Year.

·         Recognised in the 2022 Gartner®* Market Guide for Augmented Analytics for its Lumin by Fosfor product.

·         Named a Leader and Star Performer in Everest Group’s Application and Digital Services in P&C Insurance PEAK Matrix® Assessment 2023.

·         Named a Major Contender and Star Performer in Everest Group’s Risk & Compliance in BFS IT Services PEAK Matrix® Assessment 2023.

·         Named a Major Contender and Star Performer in Everest Group’s Guidewire Services PEAK Matrix® Assessment 2023.

·         Named a Major Contender in Everest Group’s Healthcare Provider Digital Services PEAK Matrix® Assessment 2023.

*GARTNER is a registered trademark and service mark of Gartner, Inc. and/or its affiliates in the U.S. and internationally and is used herein with permission. All rights reserved. Gartner does not endorse any vendor, product or service depicted in its research publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner’s research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.

Announcements

The Board of Directors has recommended an interim dividend of ?20 per equity share of par value Rs 1 each.

About LTIMindtree

LTIMindtree is a global technology consulting and digital solutions company that enables enterprises across industries to reimagine business models, accelerate innovation, and maximize growth by harnessing digital technologies. As a digital transformation partner to more than 700 clients, LTIMindtree brings extensive domain and technology expertise to help drive superior competitive differentiation, customer experiences, and business outcomes in a converging world. Powered by nearly 90,000 talented and entrepreneurial professionals across more than 30 countries, LTIMindtree — a Larsen & Toubro Group company — combines the industry-acclaimed strengths of erstwhile Larsen and Toubro Infotech and Mindtree in solving the most complex business challenges and delivering transformation at scale. For more information,  visit www.ltimindtree.com.  

Happiest Health Launches Health And Wellness Lifestyle Print Magazine & Plans For Health Summit In B'lore

* From print magazines to experiencing stories in virtual space, the health and wellness platform unveils health and wellness universe.

Health and wellness knowledge enterprise, Happiest Health is set to release India’s first Health and Wellness Lifestyle Print Magazine, which will offer credible knowledge on health and wellness-related topics.

The second offering being launched today is a mobile app that will be one-of-a-kind in producing knowledge on early diagnosis, gentler therapies, the latest developments from the intersection of health and technology… and much more! Happiest Health is also introducing an array of wellness programmes, to enhance physical, emotional, spiritual, and mental wellness. Finally, there is also a Metaverse Platform that will help users experience health and wellness knowledge in virtual space.

Talking of the new services, Ashok Soota, Chairman, Happiest Health said, “These complement our digital offering and will make Happiest Health a unique health & wellness enterprise.” Ashok Soota added that Happiest Health had built the nation’s strongest team for content creation in the health & wellness space. “The print magazine will help us to leverage this capability to address an even wider audience. Our first issue’s theme is Women’s Health. The issue has inspiring and uplifting stories for women of all ages. It includes stories on people who have battled health issues and are leading better and healthier lives,” he further said.

To keep up with the rapid pace of growth in digital services, Happiest Health has introduced a more immersive and engaging experience by launching a metaverse platform that enables users to access health and wellness knowledge in the virtual space. Chief Executive Officer & President, Anindya Chowdhury said, “We are starting our metaverse journey with knowledge of diabetes. It will explain how blood sugar spikes affect our brain when we consume different kinds of food. You can keep track of your blood sugar levels, find information and management support, to name a few utilities. Our ultimate aim is to build a repository of virtual reality experiences that cover a range of topics such as understanding of the human anatomy, interactive mental health sessions with experts, and much more. We want to create a thriving community where users can connect with each other, experts, and healthcare providers in a virtual space.”

Happiest Health also launched different wellness programmes, which will help people cope with everyday stress better and to make healthier lifestyle choices. The programmes include Mindfulness,  Tai Chi, Laughter Yoga, Dance Fitness, Yoga, and Karate. All these are delivered by renowned global experts in their fields. 

About Happiest Health

Happiest Health is a global health & wellness knowledge enterprise promoted by Ashok Soota. Happiest Health provides credible and trustworthy health and wellness knowledge with views from globally renowned experts and doctors. The primary knowledge platforms are the daily newsletter, knowledge website, and newly launched monthly print magazine, and knowledge app.

Happiest Health embraces scientific knowledge with a keen focus on medical breakthroughs providing kinder, gentler therapies including cell-based treatments. It also has deep coverage of integrated medicine including Ayurveda, homeopathy and naturopathy. Happiest Health’s focus on wellness is holistic and energizing. They live by their Mission Statement: “Better Knowledge. Better Health.” and convey its benefits to all.

Persistent Systems Ltd Strong Operating Performance; Margin Outlook Ahead Of Expectations

BUY

CMP: Rs4258  

Target Price: Rs4500

PSYS reported better-than-expected operating performance in Q3. Revenue grew 3.4% QoQ, despite impact of the higher-than-usual furloughs (150bps), lesser working days (50-100bps) and weakness in select clients. Management expects furloughs to extend into the next quarter and impact revenue growth by 50-75bps in Q4. Revenue growth was broad-based across Software, Hi-tech & Emerging industries (4.1% QoQ; ex-top client: 7.7%), Healthcare & Lifesciences (2.9%), and BFSI (2.8%). The services business has posted 9.2% CQGR in the last eight quarters, and Management remains confident (albeit watchful of macro uncertainties) about sustaining the growth momentum on the back of continued demand, robust deal intake (USD440mn in Q3; 1.7x book-to-bill), healthy deal pipeline, new logo additions, and steady progress in client mining. Management expects EBITM to expand by 200-300bps over the next 2-3 years, ahead of our expectations, on the back of revenue growth, flattening pyramid, SG&A leverage with progress on client mining, and large deals traction. We raise our EPS by 1%-8% for FY23E-25E, factoring-in the Q3 performance and higher margin assumptions. We retain BUY with TP of Rs4,500/share at 25x Dec-24E EPS (earlier Rs4,125).

Result summary: Revenue grew 3.4% QoQ to USD264.4mn (3.5% CC QoQ), above our expectations of 3% CC QoQ, driven by steady growth in the Services business and continued momentum in IP. Services revenue grew by 3% QoQ, aided by 4.9% growth in volume, while blended realization declined by 1.8%. EBITM expanded by 80bps QoQ, on account of higher lateral utilization, flattening employee pyramid, revenue growth, IP-led revenue growth, and currency movement (+60bps). Reported net profit grew 8% QoQ to Rs2.4bn. Adjusted for the exceptional item pertaining to provision for forego of export incentives (~Rs296mn), net profit stood at Rs2.7bn. The top client declined ~12% QoQ on account of planned ramp down, which started last quarter. Management believes that top-client revenue has bottomed out and expects a sharp reversal in a few quarters. Revenue from the top-50 (ex-Top 2) clients grew 7.7% QoQ. PSYS has seen steady improvement across client buckets. Order booking was at a record high, at USD440mn (1.7x book-to-bill) of TCV, including USD239mn of new business TCV. What we liked: Broad-based revenue growth momentum; revenue & margin beat; record-high order book; moderation in attrition (21.6% vs 23.7% QoQ). What we did not like: Increase in DSO to 67 days (7 days QoQ), weakness in top client (fell ~12% QoQ).

Earnings-call KTAs: 1) Revenue growth momentum moderated in North America (1.5% QoQ) due to weakness in the top-2 clients and higher than usual furloughs. 2) Growth in Europe (12.2% QoQ) was on the back of deal wins, although Management remains watchful of the macro conditions. 3) Company aspires to outgrow the industry, irrespective of the macro outcomes. 4) LTM attrition for the quarter stood at 21.6% vs 23.7% in Q2, and Management expects it to continue trailing downward. 5) The company has hedges of USD214mn as of end-Q3, at an average exchange rate of Rs81.55/USD. 6) Company declared an interim dividend of Rs28 per share. 7) The billing rate was impacted due to higher furloughs and lower number of working days. 8) DSO for the quarter stood at 67 days and was impacted by the spillover of collections (2.5-day impact), deferred credit given to some clients in the IP business (3.5 days), and clients with a December year-end seeing some shift from unbilled DSO to billed DSO. Mgmt expects billed DSO to stabilize at ~65 days. 9) Company added over 3,000 freshers in H1FY23 and has made an offer to 1,200 freshers, who are expected to join in the next few quarters. 10) Utilization (ex-fresher) improved 340bps QoQ to 83.3%. 

Godrej Agrovet Launches Samadhan, A One-Stop Solution Center For Oil Palm Farmers

~ The Ministry of Agriculture and Farmer Welfare has set a goal to cultivate 1,000,000 hectares of oil palm by 2027 under the NMEO-OP scheme

~Godrej Agrovet has set a goal to add 60,000 hectares of new oil palm plantations in the next five years

~Plans to open 50 more centers by 2027

Godrej Agrovet’s Oil Palm business has introduced a ground-breaking initiative called Samadhan, a one stop solution centre that would provide a comprehensive package of knowledge, tools, services and solutions to oil palm farmers. ‘Samadhan’ aims to be a critical enabler in Palm Oil industry and assist oil palm farmers in optimising their yields by adopting latest agricultural techniques and boosting their productivity. With the focus to provide knowledge and access to contemporary technologies, ’Samadhan’ will enable famers to make informed decisions about venturing into oil palm cultivation thereby enabling sustained growth in their income.

Since the launch of National Mission on Edible Oil - Oil Palm (NMEO-OP), in August 2021, Godrej Agrovet Ltd., a diversified agri-business company and a pioneer in the Oil Palm sector in India, had established a goal to add 60,000 hectares of additional oil palm plantations over the course of the next five years to support the long-term sustainable development of oil palm in India. The company has developed Samadhan in order to achieve this goal.

Each Samadhan center intends to support the planting of ~2,000 hectares of oil palm and help farmers achieve a sustained productivity in mature gardens through the use of modern agricultural technologies and expert advice. Through this initiative, Godrej Agrovet Ltd. plans to share global best practices with the Indian oil palm farmers, and help the farmers to adopt these practices across geographies. It will also help to support farmers to avail developmental finance, Government subsidies/schemes & other benefits.

Speaking about the initiative Mr. Balram Singh Yadav, Managing Director, Godrej Agrovet Limited said, “With more than thirty years of experience in the oil palm business, we have been working with and educating farmers on sustainable palm oil plantation processes. With the help of Samadhan, we hope to provide solution for industry's expansion and prosperity. We are aiming to provide a variety of resources, services, professional guidance and latest technologies to these palm oil farmers. We have recently opened two centers each in Telangana and Andhra Pradesh, and by March 2023, we intend to expand it. By 2027, we plan to establish 50 more centers similar to these.

The National Mission on Edible Oil - Oil Palm (NMEO-OP) has generated a new sense of excitement and momentum in the oil palm industry since its launch in August 2021. The program is a landmark initiative from the Indian government that aims to promote the long-term sustainable development of oil palm and provide additional support to new farmers, particularly in the Northeast region, to help them overcome the challenges of starting a new farm. The Ministry of Agriculture and Farmer Welfare has set a goal to cultivate 1,000,000 hectares of oil palm by 2027 under the NMEO-OP scheme. The program's introduction of the Viability Gap Payment (VGP) for long term sustainable development and increased incentives for new farmers are two key features that make it unique and supportive of the industry.

About Godrej Agrovet:

Godrej Agrovet Limited (GAVL) is a diversified, Research & Development focused food and agri-business conglomerate, dedicated to improving the productivity of Indian farmers by innovating products and services that sustainably increase crop and livestock yields. GAVL holds leading market positions in the different businesses it operates - Animal Feed, Crop Protection, Oil Palm, Dairy, Poultry and Processed Foods. GAVL has a pan India presence with sales of over a million tons annually of high-quality animal feed. Our teams have worked closely with Indian farmers to develop large Oil Palm Plantations which is helping in bridging the demand and supply gap of edible oil in India. In the crop protection segment, the Company has strong presence in the B2B segment through its subsidiary Astec Lifesciences and through its extensive distribution network pan-India delivers innovative agrochemical offerings catering to the entire crop life-cycles. In Dairy and Poultry and Processed Foods, the company operates through its subsidiaries Creamline Dairy Products Limited and Godrej Tyson Foods Limited. Apart from this, GAVL also has a joint venture with the ACI group of Bangladesh for animal feed business in Bangladesh.

For more information on the Company, log on to www.godrejagrovet.com.

Godrej Interio Partners With Mumbai Metropolitan Region Development Authority For Metro Line 2A

~ Seeks to grow by 45% in Turnkey Projects business by FY25 ~

Godrej & Boyce, the flagship company of the Godrej Group announced that its business Godrej Interio, India’s leading furniture solutions brand, in home and institutional segments, has completed the external façade of nine metro stations between Dahisar to DN Nagar on the newly inaugurated Mumbai Metro Line 2A. The new metro line was inaugurated on 19th January 2023 by the Hon. Prime Minister Narendra Modi along with Eknath Shinde, Chief Minister of Maharashtra and Devendra Fadnavis, Deputy Chief Minister of Maharashtra.

Godrej Interio has successfully completed the Façade works that utilized approximately 1800 tonnes of MS steel for fabrication, 480 Metric tonnes of plaster, and installed more than four lakh Sq. feet of façade louvers. The project commenced during the pandemic and was completed well before the stipulated deadline given by the Mumbai Metropolitan Region Development (MMRDA).

Swapneel Nagarkar, Sr. Vice President & Business Head, Godrej Interio said, “The infrastructure sector is a significant driver of the Indian economy. Infrastructure development is essential for India to achieve its goal of having a $5 trillion economy by 2025[1]. In line with the Make in India mission, Godrej Interio has always been at the forefront of contributing towards building the nation. We are delighted that the project was completed before the given timeline as this metro projects will provide speedy and convenient transport to nearly 10 Lakh commuters by 2031. We have been working closely with the MMRDA and metro rail corporations to provide an excellent commuter experience by leveraging our expertise in delivering turnkey solutions and contributing to India's vision of building a strong public transportation network across the country. Currently, our Turnkey Projects business contributes 22% of our turnover from the B2B segment and is poised to grow at a CAGR of 20% until FY25.”

Godrej Interio has already partnered on various metro rail projects across the country including Bengaluru, Kochi and Kolkata. As metro stations in many parts of the world reflect the culture of the city, Godrej Interio on customer request has also helped in depicting the same via artwork and installations at various city metro projects. They have already secured infrastructure finishing projects of over 500 Crore since 2020.

The infrastructure finishing projects' broad scope of work includes interiors, art forms, architectural finishes, civil finishes, cladding, block works, and facade glazing. Godrej Interio is committed to strengthening its market position through the infrastructure line of business by offering comprehensive end-to-end solutions from conception to completion. The team’s skilled architects, interior designers, and project managers work closely with the contracting party to provide a seamless experience. The company’s offerings also include general contracting, design, and execution of everything from interior design to MEP to security and surveillance to AV systems.

About Godrej Interio:

Godrej Interio is India’s leading premium furniture brand in both home and institutional segments with a strong commitment to sustainability and centres of excellence in design, manufacturing and retail.

Led by the largest in-house design team in the country in the furniture category and awarded with 34 India Design Mark Awards till date, GODREJ INTERIO aims to transform spaces with its thoughtfully designed furniture to create brighter homes and offices with products that have the highest design quotient in aesthetics, functionality and technology. With consistent pursuit of excellence and a special focus on health and ergonomics, GODREJ INTERIO’s product portfolio comprises of a wide range of solutions

Today, we design and manufacture furniture for office spaces, homes, educational institutes, healthcare facilities, laboratories and more. Along with furniture we offer Audio Visual and 360 Degree Turnkey solutions. Each of our product range revolves around comfort and aesthetics while delivering well-designed, long lasting and functional furniture solutions. In short, Godrej Interio helps the consumers to make every space the perfect setting for their myriad moods and moments.

Currently present in over 450 cities with 450 exclusive showrooms and 520 dealer outlets, is one of the largest divisions of Godrej & Boyce Mfg. Co. Ltd., part of the Godrej Group, one of India's largest engineering and customer product groups.

Godrej Interio has 7 manufacturing facilities situated at Mumbai, Khalapur, Haridwar, Shirwal, and Bhagwanpur. GODREJ INTERIO’s Shirwal Plant is Green Co Platinum Certified, and Mumbai Plants are Green Co Gold Certified. GODREJ INTERIO is widely known for its comprehensive sustainability certifications for its products in furniture category.

GODREJ INTERIO commitment to the environment has resulted in manufacturing products with lesser environment footprint. Our pioneering efforts include designing less environment burdening products, usage of eco-friendly materials and setting up less polluting and consuming processes, ensuring eco-friendly packaging and transportation and finally the extended responsibility of recycling/reuse of used furniture and scrap, thus ensuring a lifecycle approach to green. GODREJ INTERIO has the widest range of green choices for our customers which not only includes products but also services such as green interiors and recycling.

The brand boasts of noteworthy awards received so far- CII Exim Bank Award for Business Excellence 2016, Superbrands 2017-18, Reader’s Digest Most Trusted Brand 2018 Gold (Home Furniture and Modular Kitchen), TRA’s India’s Most Consumer focused brand 2019, GreenCo Star Performer Award 2019, National Energy Leader Award at CII National Award for Excellence in Energy Management 2018.

L&T Technology Services Reports 21% Growth And Crosses The Rs 300 Crore Mark In Net Profit In Q3FY23

Q3 Revenue of Rs 2,049 crore, up 21% YoY

Q3 Net profit of Rs 304 crore, up 22% YoY

L&T Technology Services Limited (BSE: 540115, NSE: LTTS), India’s leading pure-play engineering services company, announced its results for the third quarter ended December 31, 2022.

Highlights for Q3FY23 include:

·         Revenue at Rs  20,486 million; growth of 21% YoY

·         USD Revenue at $248 million; growth of 14% YoY in constant currency

·         EBIT margin at 18.7%

·         Net profit at Rs 3,036 million; growth of 22% YoY

During the quarter, LTTS won five USD 10 million plus TCV deals and a significant empanelment with Airbus in digital manufacturing.

“Our double-digit revenue growth momentum continued in the third quarter led by Transportation and Industrial Products. Three of the five USD 10 million plus deal wins in Q3 were from Industrial Products on the back of our differentiated capabilities such as digital twin and sustainability driven product development.

We reported a record high EBIT margin of 18.7% in Q3 which helped us cross the milestone of INR 300 crore in quarterly profits. This demonstrates our continuing endeavor for shareholder value creation. We also crossed 1,000 patent filings, reflecting the engineering and technology talent driving growth for the company.

Towards meeting our aspiration of a USD 1.5 Bn run-rate by FY25, we are making strategic investments. In Q3, we opened a new center in Toronto for Digital Engineering and expanded our operations in Peoria to offer digital manufacturing and next-gen electrification solutions. Recently we announced the acquisition of Smart World and Communication (SWC) which is a progression of our 6 Big Bets strategy in the areas of 5G, Sustainability and Digital Products & AI. We are confident these investments will help differentiate our offerings and expand our addressable market”, said Amit Chadha, CEO & Managing Director, L&T Technology Services Limited.

Awards & Recognitions:

·         LTTS was awarded the Best Industry-Academia collaborations of the year by CII Industrial Innovation Awards 2022.

·         LTTS won the Golden Peacock Innovation Management Award – 2022 by Institute of Directors (IOD)

·         LTTS’ Global Engineering Academy was declared the winner of the organization award category at the Future of Learning and Development Summit & Awards 2022 by the UBS Forum.

·         LTTS has been rated as leaders in the Zinnov Zones ER&D Services 2022 across verticals including Aerospace, Automotive, Industrial, Semiconductor, Telehealth, Telecommunication and technologies such as Electrification, Digital Engineering, Data & AI Engineering, Experience Engineering Services, and Industry 4.0.

·         ISG rated LTTS as the leader and the only pure-play ESP in Manufacturing Industry Services in the US and Europe

Patents

At the end of Q3FY23, the patents portfolio of L&T Technology Services stood at 1,033, out of which 695 are co-authored with its customers and the rest are filed by LTTS.

Human Resources

At the end of Q3FY23, LTTS’ employee strength stood at 21,649.

About L&T Technology Services Ltd

L&T Technology Services Limited (LTTS) is a listed subsidiary of Larsen & Toubro Limited focused on Engineering and R&D (ER&D) services. We offer consultancy, design, development and testing services across the product and process development life cycle. Our customer base includes 69 Fortune 500 companies and 57 of the world’s top ER&D companies, across industrial products, medical devices, transportation, telecom & hi-tech, and the process industries. Headquartered in India, we have over 21,600 employees spread across 22 global design centers, 28 global sales offices and 91 innovation labs as of December 31, 2022. For more information,  visit https://www.LTTS.com/