LTI FY22 Records Revenue At USD 2.1 Billion, Growth Of 25.9%

* Q4 FY22 USD Revenues up 27.5% YoY

Larsen & Toubro Infotech (BSE code: 540005, NSE: LTI), a global technology consulting and digital solutions company, announced its Q4 FY22 and full year FY22 results.

Q4 FY22

In US Dollars:

Revenue at USD 570.4 million; growth of 3.1% QoQ and 27.5% YoY

Constant Currency Revenue growth of 3.6% QoQ and 29.0% YoY

In Indian Rupees:

Revenue at INR 43,016 million; growth at 4.0% QoQ and 31.6% YoY

Net Income at INR 6,375 million; growth of 4.1% QoQ and 16.8% YoY

Full year FY22

In US Dollars:

Revenue at USD 2,102.5 million; growth of 25.9% YoY

Constant Currency Revenue growth of 25.8% YoY

In Indian Rupees:

Revenue at INR 156,687 million; growth at 26.7% YoY

Net Income at INR 22,985 million; Net Income growth at 18.6% YoY

Capital Return

Final Dividend of INR 30 per share; Dividend pay-out ratio of 41.9% for the year

ROE of 28.5% for the year

“We are delighted to cross the USD 2 billion revenue milestone with record growth of 26% in FY22, our strongest since listing. Our growth has been broad-based across verticals, service lines, client buckets and geographies. The year has seen the highest new client openings and net headcount additions.

In Q4 FY22, we won 4 large deals with net new TCV of over USD 80 million. Our deal pipeline continues to be robust, and we remain confident of maintaining industry leading growth in the coming year as well,” - Sanjay Jalona, Chief Executive Officer & Managing Director

Recent Deal Wins

-          Selected by a Global Fortune 500 financial services company for an end-to-end managed services engagement involving transformation, governance and support for middleware and data as part of their global technology function

-          A Global Fortune 500 corporation, a leading provider of ratings, benchmarks, analytics and financial data, has selected LTI as its primary partner for an engagement involving data and digital services to integrate its data platforms with its recent acquisition

-          Selected by a Global Fortune 500 consumer goods company as their strategic partner for data and analytics work to transform and gain insights across their most critical business functions of manufacturing, supply chain, marketing and creation of a metadata hub

-          Engaged by a key government body in the public healthcare space to develop an eco-system and technology infrastructure providing, storing and improving access to relevant public data and supporting public health insurance programs

-          Selected by a large metals and mining company for an ERP managed services engagement involving key business modules like transportation management, technology, customer and supplier engagement across its legal entities and over 40 operating units

-          Selected by a property and casualty insurance provider based in North America to integrate core systems and financial data for multiple lines of business across numerous subsidiaries into a centralized enterprise data warehouse

-          A top healthcare provider in the Middle East has selected LTI, through its strategic partnership with a regional leader, for support on its security and network operation center

-          A large bank has selected LTI to revamp its website to cover all aspects of a digital experience, hosting in cloud and maintenance

-          A global financial services company in Europe has selected LTI to outsource its client servicing desk and build a digital workspace for its employees

-          Selected by a Global Fortune 500 corporation engaged in the supply of IT infrastructure products and services to upgrade its SAP S/4HANA ERP platform

-          Selected by a global security services firm to set up a digital command center to monitor Infrastructure and network, and ensure minimal disruption

-          Selected by a North American utility company to manage core applications and operations’ systems to ensure streamlining of SLAs and adherence to business KPIs, reduction of costs and efficiency in operations

Awards and Recognitions

-          LTI Recognized as Leader Across all Six Quadrants in the ISG Provider Lens™ AWS Ecosystem Partners Report USA 2021

-          LTI Positioned as a Leader and Star Performer in Everest Group's Duck Creek IT Services PEAK Matrix® Assessment 2022

-          LTI in ITS Top 10 list in Everest Group's PEAK Matrix® IT Service Provider of the Year 2022

-          LTI Ranked 1 in Top ITS Challengers list in Everest Group's PEAK Matrix® IT Service Provider of the Year 2022

-          LTI's Fosfor Optic recognized in The Forrester Now Tech: Enterprise Data Fabric, Q1 2022 report

-          LTI's Fosfor Refract recognized in The Forrester Now Tech: AI/ML Platforms, Q1 2022 report

Other Business Highlights

-          The Board of Directors at its meeting held on April 19th, 2022 have recommended a final dividend of INR 30 per equity share (Face value of INR 1) for the financial year 2021-22. Total dividend for FY22 is INR 55 per equity share, including the interim dividend of INR 15 and special dividend of INR 10 per equity share declared in October 2021 and July 2021 respectively

-          LTI has been ranked 22 among the top 25 most valuable IT services brands in the Brand Finance IT Services 25 2022 ranking

-          LTI CEO, Sanjay Jalona adjudged the Best CEO 2022 in the IT/ITES category, by Business Today

-          LTI received Gold recognition from EcoVadis for ESG practices including environment, labor and human rights, ethics and sustainable procurement

-          Optic by Fosfor Named “Data Catalog Solution of the Year” in 2022 Data Breakthrough Awards

-          LTI Expands its Presence in the USA with a New Engagement Center in Hartford, CT

About LTI

LTI (NSE: LTI) is a global technology consulting and digital solutions Company helping more than 485 clients succeed in a converging world. With operations in 33 countries, we go the extra mile for our clients and accelerate their digital transformation with LTI’s Mosaic platform enabling their mobile, social, analytics, IoT and cloud journeys. Founded in 1997 as a subsidiary of Larsen & Toubro Limited, our unique heritage gives us unrivalled real-world expertise to solve the most complex challenges of enterprises across all industries. Each day, our team of more than 45,000 LTItes enable our clients to improve the effectiveness of their business and technology operations and deliver value to their customers, employees and shareholders. Find more at http://www.Lntinfotech.com or follow us at @LTI_Global.

Aura Air Brings Its Smart Air-Purifiers Across The Indian Market

* Aura Air air-purifiers have been clinically certified for their effectiveness against the SARS-CoV-2 virus

Aura Air, a publicly listed company with the Tel-Aviv Stock Exchange (TASE), is now launching its smart air management platform in India. Aura Air air-purifiers detect, capture, and kill 99.9% of viruses, bacteria, mold and can remove airborne particles as small as 0.3 microns, including allergens and viruses. These IoT-enabled devices connect to a mobile phone and deliver real-time updates on the overall indoor and outdoor Air Quality Index (AQI) based on VOC (Volatile Organic Compounds), CO2 (Carbon Dioxide), CO (Carbon Monoxide), and fine particulate matter levels. Aura Air purifiers have successfully cleared clinical trials confirming their effectiveness against the Corona virus in a study conducted at Sheba Medical Center and the results have been published in the world Journal of Surgery and Surgical Research. Aura Air is also in the process of getting Food and Drug Administration, USA approval.

Founded in 2018 by Eldar Shnaiderman and Aviad Shnaiderman, Aura Air is currently sold in 87 countries and used by marquee brands including the Sheraton, Hilton, CBRE, Subway, Coca-cola, and Audi among others. The Indian Air Purifier Market stood at over $85 million in FY21 and is projected to cross over $500 million by FY27*.

The Aura Air device helps to monitor indoor and outdoor air quality in real-time through its inbuilt sensors. The smart device filters and disinfects air through four stages:

Pre-filter: Filtering the big particles like dust, pollen, animal hair

HEPA Ray filter®: The patent pending ray filter consists of 3 unique antibacterial layers

Sterionizer: Creating pure air with patented technology

UVC: Kills bacteria, viruses, and parasites

Bharadwaj PV, Managing Director of Aura Air India said, “We believe that Aura Air has entered the Indian market at a very interesting time especially when people understand the need and requirement to invest in a wholistic air purification solution. Our products have been successful in filtering the COVID-19 virus and have been validated in India by NABL accredited laboratories. We are confident that individuals and companies will see value in our product especially as offices have reopened and theatres, malls, and restaurants are now at full capacity. We are expanding in India by creating a network of distributors and partners who are helping us spread the technology of Aura across customers in India.”

Aura Air is priced at ?37,500 for the base variant.  Aura Business (Enterprise solution) is available from a starting price of ?48,500. Aura Mini is available for ?13,000.

About Aura Air:

Headquartered in Tel-Aviv, Israel, Aura Air was founded in 2018 by Eldar Shnaiderman and Aviad Shnaiderman. The brothers grew up in a family of HVAC professionals, are experts in understanding the heating, cooling, and air-conditioning space. Aura Air is a smart, IoT-enabled air-purifier that helps to monitor indoor and outdoor air quality in real-time through its inbuilt sensors. Aura Air is currently sold in 87 countries and used by marquee brands including the Sheraton, Hilton, CBRE, Subway, Coca-cola, and Audi among others.

Source: *Focus on Wellness Inside Buildings Powering the Global Indoor Air Quality Systems Market, 2026: Global Energy & Environment Research Team at Frost & Sullivan

Harry Potter: Puzzles & Spells Celebrates “Fantastic Beasts: The Secrets Of Dumbledore” With A Series Of In-Game Events

* Everyone’s Favourite Treasure Hunter, The Niffler, Can Be Collected as a Permanent In-game Creature for the First Time

Zynga Inc. (Nasdaq: ZNGA), a global leader in interactive entertainment, announced that its magical Match-3 mobile game, Harry Potter: Puzzles & Spells, is introducing a special in-game series of events in conjunction with the launch of Warner Bros. Pictures' new film, “Fantastic Beasts: The Secrets of Dumbledore,” now playing in theatres worldwide. The events can be glimpsed in this trailer:

By featuring magical characters and creatures from the film franchise, the limited time Fantastic Beasts Celebration invites players to experience the wizarding world of “Fantastic Beasts: The Secrets of Dumbledore” in Harry Potter: Puzzles & Spells. In the in-game event, which runs through tomorrow, famed Magizoologist Newt Scamander appears in the game for the first time, as a guide and host. As a special event bonus, players can earn badges to collect the Niffler, the lovable magical creature known for collecting shiny objects and treasures. For the first time, players can keep the Niffler as a permanent creature they can use in gameplay going forward – but they need to act quickly to seize their chance.

Players who’ve been swept into the Fantastic Beast Celebration can dive even deeper into Harry Potter: Puzzles & Spells with the special Magical Creatures Season that runs from late April to late May. This in-game event enables players for the first time to unlock the Qilin, perhaps the wizarding world’s most revered magical beast, to help complete Puzzles when activated.

“We’re incredibly excited to announce the latest Harry Potter: Puzzles & Spells in-game event series in conjunction with the release of Fantastic Beasts: The Secrets of Dumbledore,” said Yaron Leyvand, Executive Vice President, Games at Zynga. “The film series has created a massive global fan following, and we are excited that our players can see the film’s most beloved characters on the mobile screen.”

In Harry Potter: Puzzles & Spells, players enter a Match-3 adventure brimming with the spells, humour, colour and characters of the Harry Potter series. Featuring the soundtrack and voiceover recordings from the original Harry Potter films, fans follow an authentic, mobile retelling of Harry’s journey through the wizarding world. Earning spells and special boosts as they advance, players solve Match-3 Puzzles populated with hopping Chocolate Frogs, fluttering Winged Keys, battling wizard chess pieces and other unexpected obstacles and objects. In the spirit of camaraderie and friendly competition at Hogwarts, players can join or form Clubs with other fans to socialise, collaborate on Puzzle strategies, share lives and vie for Prizes in exclusive Club Events.

Harry Potter: Puzzles & Spells is playable on iOS and Android devices worldwide, as well as on Amazon Kindle and Facebook. For more information and to connect with other fans, follow us on Facebook, Instagram and Twitter, and visit the game’s website at www.harrypotterpuzzlesandspells.com.

LT Infotech: Operating Performance Misses Expectations In Q4, 2022

HOLD

CMP: Rs5472  

Target Price: Rs6350

*  LTI's Q4 operating performance came in below our estimates. Revenues grew by 3.1% QoQ to USD570.4mn (3.6% CC), missing estimates partly due to onsite supply challenges. EBITM declined 60bps to 17.3%, below our estimates.

* Revenue growth was broad-based, driven by CPG, Retail & Pharma (7.7& QoQ CC), E&U (4.1%), Insurance (3.8%), BFS (3.3%), Others (3.3%), Manufacturing (2.3%) and Hi-Tech, M&E (2.2%). All geographies, except RoW, reported positive sequential growth.

* LTI is confident of delivering a top-quartile revenue performance in FY23 on strong broad-based demand, large deal intake and pipeline, conversations with clients, and good progress on client mining. It signed 4 large deals with net new TCV over USD80mn in Q4. 

* We cut our FY23/FY24 EPS estimates by 3.7%/2.5%, factoring in the Q4 performance miss and softness in onsite volume in H1. We maintain Hold with a TP of Rs6,350 (Rs6,500 earlier) at 34x Mar'24E EPS.

Kasturba Medical College Manipal Organises Annual Fest- Invictus 2022

The week-long fest attended by over 1500 students from across the country

Bengaluru, 20th April 2022: After a hiatus of two years, Kasturba Medical College (KMC) Manipal organised its annual fest Invictus 2022 on a much grander scale than ever before. The fest was organised by the from 11th to 17th April by KMC’s student council. Over 1500 students flocked to Manipal from over 40 colleges to participate in the event.

Invictus 2022 featured over 15 different individual and team-based sports events and a myriad of colourful informal events. Cash prizes of over 2.8 lakhs were distributed to the winners. Furthering Manipal Academy of Higher Education’s agenda of being a green and environment friendly campus, the delegate cards were given out digitally this time saving over 2000 sheets of paper.

The prizes were distributed by Hon'ble dean of KMC Dr. Sharath Rao and Hon'ble Associate Dean Dr. Krishnananda Prabhu. The prestigious 'Best College Award' was bestowed on KMC, Manipal for getting the most accolades among the participating colleges

Speaking about the fest, Dr. Sharath Rao, Dean Kasturba Medical College said “We are extremely proud and happy to have hosted Invictus 2022 after a gap of 2 years and this time the enthusiasm, the scale and the participation was grander than ever before. We applaud the student council of KMC for their hard work and dedication in organising this event. I congratulate all the winners and participants who came to Manipal from across the country to participate in a plethora of Sports and Cultural events”

Kaynes Technology Files DRHP With SEBI, To Raise Funds Via IPO

Mysore-based Kaynes Technology India Limited (KTIL), a leading end-to-end and IoT solutions enabled integrated electronics manufacturing player, having capabilities across the entire spectrum of electronics system design and manufacturing (“ESDM”) services, has filed its draft red herring prospectus (DRHP) for its initial public offering (IPO).

The issue with a face value of Rs 10 per equity share consists of a fresh issue of equity shares aggregating to Rs 650 crore, and an offer for sale of up to 7,200,000 equity shares by existing shareholders. The Offer is being made through the Book Building Process, wherein not more than 50% of the Offer shall be available for allocation to Qualified Institutional Buyers, not less than 15% of the Offer shall be available for allocation to Non-Institutional Bidders and not less than 35% of the Offer shall be available for allocation to Retail Individual Bidders.

The offer of sale comprises up to 3,700,000 equity shares by Ramesh Kunhikannan (“Promoter Selling Shareholder”) and up to 3,500,000 equity shares by Freny Firoze Irani (“Investor Selling Shareholder”). The offer also includes a reservation of up to Rs 1.5 crore for subscription by eligible employees.

The company, in consultation with the lead bankers to the issue may consider a further issue of equity shares including a rights issue, private placement, preferential offer, or any other method aggregating up to Rs 130 crore. If such placement is completed, the fresh issue size will be reduced.

The Company will use the net proceeds towards repayment/pre-payment in full or in part of certain borrowing availed by the company to the tune of up to Rs 130 crore, up to Rs 98.93 crore for funding capital expenditure towards expansion of existing manufacturing facility at Mysore and Manesar, up to Rs 149.30 crore for investment in subsidiary Kaynes Electronics and for setting up a new facility at Chamarajanagar, up to Rs 114.74 crore for funding working capital requirement and general corporate proposes.

Ramesh Kunhikannan, a technocrat founded Kaynes Technology as a sole proprietorship in 1989 and has over 33 years of expertise in the electronic manufacturing services business, is the company's Promoter and Managing Director. Kaynes was one of the first companies in India to offer design-led electronics production to original equipment manufacturers ("OEMs") using mature embedded design capabilities, according to a Frost & Sullivan report commissioned by the company. Among the listed space, Kaynes competes with Dixon Technologies Limited and Amber Enterprises Limited as mentioned in the DRHP.

Kaynes has more than three decades of experience in providing conceptual design, process engineering, integrated manufacturing, and life-cycle support for major players in the automotive, industrial, aerospace and defence, outer-space, nuclear, medical, railways, and Internet of Things ("IoT") industries, Kaynes is one of the leading companies in the ESDM space to offer optimised product realisation solutions to customers in flexible volumes and higher complexity products across industry verticals.

KTIL has eight strategically positioned production plants in India, in the states of Karnataka, Haryana, Himachal Pradesh, Tamil Nadu, and Uttarakhand, allowing it to service its customers efficiently and cost-effectively. It has a total capacity of approximately 600 million components as of December 31, 2021, with an exclusive line for "Green Manufacturing" compatible with Directive 2002/95/EC Restriction of Hazardous Substances ("RoHS"), as well as one design facility and two service centres.

As on March 31, 2022, Kaynes had an order book of Rs 1,516.63 crore, with orders from several customers across business verticals.

Kaynes is the first firm in the ESDM industry to be accredited for aerospace goods by the National Aerospace and Defense Contractors Accreditation Program ("NADCAP"), and one of the few Indian companies to maintain this accreditation. It has long-term partnerships with a big customer base that is diverse in terms of verticals and geographical locations. It served 313 customers in 20 countries for the nine months ended December 31, 2021, in verticals such as automotive, aerospace and defence, industrial, railways, medical, and IT / ITES.

For nine months ending December 31, 2021, Kaynes derives its revenue from business verticals which includes OEM – Turnkey Solutions – Box Build; OEM – Turnkey Solutions – Printed Circuit Board Assemblies; ODM; and Product Engineering and IoT Solutions representing 29.08%, 63.34%, 3.74% and 3.84% respectively.

Kaynes Technology clocked a profit of Rs 9.73 crore in the financial year FY21 against Rs 9.35 crore in the previous year, whereas revenue during the year FY21 increased 14.23% to Rs 420.63 crore from Rs 368.24 crore in the previous year, primarily driven by growth in the automotive and health care verticals.

Profit for the nine-month period ended December 2021 stood at Rs 21.82 crore on revenue of Rs 467.78 crore. Export sales accounted for 21.53 percent of revenues, Top 10 customers account for 51.92 percent, and revenue from the business verticals OEM – Turnkey Solutions – Box Build; OEM – Turnkey Solutions – Printed Circuit Board Assemblies; ODM; and Product Engineering and IoT Solutions account for 29.08 percent, 63.34 percent, 3.74 percent, and 3.84 percent, respectively, as of December 2021.

DAM Capital Advisors Limited and IIFL Securities Limited are the book-running lead managers and Link Intime India Private Limited is the registrar to the offer.

Smart Snacking For People Returning To Offices, After A Long Break

By Dr Irfan Shaikh, Head Adult Nutrition, Scientific & Medical Affairs, Abbott's Nutrition business

With offices reopening, employees are now gradually getting back to a regular work routine. While some dread long commutes and traffic snarls, others are glad to return to physical offices and indulge in much needed social interaction with colleagues over in-person meetings, team lunches, coffee breaks and more! As we prepare for this phased return to pre-pandemic normalcy, nutrition plays a key role in getting our brain & body ready for the daily grind.

Snacking through the day is one of the inevitable aspects of in-office work life. There is an urge to munch constantly especially when in the company of others or to relieve stress. Unchecked, unhealthy snacking can take a toll on overall health.

Having said that, if you are fond of snacking, you don’t need to forgo it. You just need to be smart about your food choices. But how does one find the perfect snack that is healthy but also tasty and can help satiate food cravings? What is the right combination of protein, fats, and carbohydrates to fuel one’s day? Read on to get started.

Make Health a Priority

One way of ensuring that you are on top of your diet plan is by indulging a healthy, timely snack to fuel your body with energy and essential nutrients. Opt for foods like a steamed sprouts salad topped generously with chopped cucumber, cottage cheese and tomatoes. You can also include boiled black chana or beans with a tablespoon of lemon juice. A bowl of yogurt with raw vegetables is an equally filling and healthy option. Add celery, carrots, broccoli, and tomatoes to make the dish delicious and rich in protein and calcium.

Smoothies are another healthy option that will tingle your taste buds and are easy to make. Pick fresh fruits or vegetables, such as spinach, amla or cucumber, and add refreshing coconut water to the mix. Add five to six soaked almonds and one or two walnuts for extra protein, and you're good to go. Other light snacks, such as oats, idli or homemade dhokla, ensure that you'll stave off those hunger pangs.

On the post-meal pick-me-up, choose desserts such as custard apple kheer with jaggery (gur) and coconut milk or ragi coconut laddu, which is all ragi flour, coconut, jaggery and crunchy peanuts.

Snack for The Right Reasons

Snacking is typically more due to habit or carvings rather than hunger. You snack when you are bored, angry, overjoyed or even surrounded by fun, social company. If you do not track your snack intake, it's easy to go overboard. Sure, a bag of chips or a handful of namkeen can seem insignificant as a one off, but the impact on your health is huge if becomes a regular feature. Strive to make healthier food choices and eat only when you are truly hungry.

Manage Your Snacking Deliberately

Now that you have plenty of snacking options that won't add too many carbohydrates and calories to your diet, you should be able to regulate your daily snack intake. Here's what to note when adding snacks to your meal plan:

Control portion sizes to measure your snack intake

Plan at least two snacks each day to avoid impulsive snacking

Count the nutritional value of your snacks toward your overall diet plan

Keep fruits and nuts in your bag for healthy on-the-go snack options

Consult your doctor or dietician for snacking suggestions tailored to your condition

For a guilt-free way to power through your day, try munching on fresh fruits and vegetables, or even unflavoured popcorn

Additionally, one can even include a balanced nutrition supplement like Ensure to help increase muscle mass and energy, improve digestive health and boost immunity. For diabetic patients, a specific oral nutrition supplement like Ensure Diabetes Care between meals works well as it has a slow-release energy system to help manage blood glucose levels and support weight management

Thoughtful snacking decisions at workplace can make life healthy and happy. Having the right food available when hunger strikes means you'll be more likely to make a healthy snacking decision, and this is sure to take you a long way!