L&T Technology (LTTS) | Financial Analysis & Statements
L&T Technology Services Ltd. Large-cap Technology
TL;DR: Financial Overview - Revenue, Profits & Key Metrics
Latest Quarterly: Mar 2026Income Metrics
Revenue
28.6B
Gross Profit
11.8B
41.16%
Operating Income
4.3B
15.22%
Net Income
3.3B
11.64%
EPS (Diluted)
₹31.29
Balance Sheet Metrics
Total Assets
104.9B
Total Liabilities
40.0B
Shareholders Equity
64.9B
Debt to Equity
0.62
Cash Flow Metrics
Free Cash Flow
2.9B
Revenue & Profitability Trend
Quarter Income Flow
Mar 31, 2026
Annual Income Flow
2026
L&T Technology Income Statement From 2022 to 2026
| Metric | 2026 | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
| Revenue | 110.0B | 96.4B | 96.5B | 88.2B | 65.7B |
| Cost of Goods Sold | 64.6B | 55.9B | 50.6B | 47.0B | 37.7B |
| Gross Profit | 45.4B | 40.5B | 45.8B | 41.2B | 28.0B |
| Gross Margin % | 41.3% | 42.0% | 47.5% | 46.7% | 42.5% |
| Operating Expenses | |||||
| Research & Development | - | - | - | - | - |
| Selling, General & Administrative | - | 8.2B | 7.1B | 6.9B | 5.9B |
| Other Operating Expenses | 26.0B | 22.6B | 16.9B | 14.2B | 6.8B |
| Total Operating Expenses | 26.0B | 30.8B | 23.9B | 21.1B | 12.6B |
| Operating Income | 15.9B | 14.9B | 17.0B | 15.5B | 11.8B |
| Operating Margin % | 14.5% | 15.4% | 17.6% | 17.5% | 17.9% |
| Non-Operating Items | |||||
| Interest Income | - | 675.0M | 816.0M | 876.0M | 492.0M |
| Interest Expense | 641.0M | 565.0M | 509.0M | 444.0M | 437.0M |
| Other Non-Operating Income | - | - | - | - | - |
| Pre-tax Income | 16.7B | 16.4B | 18.0B | 16.9B | 13.1B |
| Income Tax | 4.4B | 4.5B | 5.0B | 4.7B | 3.5B |
| Effective Tax Rate % | 26.5% | 27.4% | 27.6% | 27.9% | 26.6% |
| Net Income | 12.8B | 12.6B | 13.1B | 12.2B | 9.6B |
| Net Margin % | 11.7% | 13.1% | 13.5% | 13.8% | 14.6% |
| Key Metrics | |||||
| EBITDA | 21.6B | 20.0B | 21.1B | 19.5B | 15.8B |
| EPS (Basic) | - | ₹119.70 | ₹123.34 | ₹114.82 | ₹90.92 |
| EPS (Diluted) | - | ₹119.44 | ₹123.00 | ₹114.48 | ₹90.74 |
| Basic Shares Outstanding | - | 105822891 | 105697381 | 105571928 | 105265550 |
| Diluted Shares Outstanding | - | 105822891 | 105697381 | 105571928 | 105265550 |
Income Statement Trend
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L&T Technology Balance Sheet From 2022 to 2026
| Metric | 2026 | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
| Assets | |||||
| Current Assets | |||||
| Cash & Equivalents | 16.5B | 13.8B | 11.2B | 5.3B | 2.3B |
| Short-term Investments | 17.2B | 11.4B | 15.6B | 22.6B | 18.3B |
| Accounts Receivable | 20.1B | 25.2B | 21.9B | 21.5B | 17.0B |
| Inventory | 58.0M | 39.0M | 33.0M | 16.0M | - |
| Other Current Assets | 9.9B | 12.4B | 12.1B | 4.0B | 3.1B |
| Total Current Assets | 73.7B | 64.6B | 62.3B | 63.8B | 43.3B |
| Non-Current Assets | |||||
| Property, Plant & Equipment | 8.6B | 10.7B | 10.8B | 8.3B | 7.2B |
| Goodwill | 25.9B | 25.0B | 12.3B | 12.4B | 12.3B |
| Intangible Assets | 1.9B | 2.3B | 213.0M | 393.0M | 549.0M |
| Long-term Investments | - | 564.0M | 885.0M | 481.0M | 1.6B |
| Other Non-Current Assets | 2.1B | 2.9B | 2.6B | 1.8B | 1.4B |
| Total Non-Current Assets | 31.2B | 31.8B | 22.6B | 18.2B | 17.7B |
| Total Assets | 104.9B | 96.4B | 84.9B | 82.0B | 60.9B |
| Liabilities | |||||
| Current Liabilities | |||||
| Accounts Payable | 9.4B | 16.2B | 14.1B | 12.4B | 3.9B |
| Short-term Debt | 1.7B | 1.4B | 1.4B | 811.0M | 495.0M |
| Current Portion of Long-term Debt | - | - | - | - | - |
| Other Current Liabilities | 5.2B | 5.5B | 5.1B | 2.7B | 4.9B |
| Total Current Liabilities | 32.4B | 29.9B | 25.4B | 33.1B | 13.7B |
| Non-Current Liabilities | |||||
| Long-term Debt | 4.1B | 4.4B | 5.2B | 3.7B | 4.3B |
| Deferred Tax Liabilities | 1.0M | 758.0M | 745.0M | 397.0M | 809.0M |
| Other Non-Current Liabilities | - | - | - | - | - |
| Total Non-Current Liabilities | 7.6B | 5.6B | 6.0B | 4.3B | 5.4B |
| Total Liabilities | 40.0B | 35.5B | 31.4B | 37.4B | 19.1B |
| Equity | |||||
| Common Stock | 212.0M | 212.0M | 212.0M | 211.0M | 211.0M |
| Retained Earnings | - | 52.1B | 44.7B | 36.7B | 27.7B |
| Treasury Stock | - | - | - | - | - |
| Other Equity | - | - | - | - | - |
| Total Shareholders Equity | 64.9B | 61.0B | 53.5B | 44.5B | 41.8B |
| Key Metrics | |||||
| Total Debt | 5.8B | 5.8B | 6.6B | 4.5B | 4.8B |
| Working Capital | 41.3B | 34.7B | 36.9B | 30.7B | 29.5B |
Balance Sheet Composition
L&T Technology Cash Flow Statement From 2022 to 2026
| Metric | 2026 | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
| Operating Activities | |||||
| Net Income | 17.4B | 17.4B | 18.0B | 16.9B | 13.1B |
| Depreciation & Amortization | - | - | - | - | - |
| Stock-Based Compensation | 166.0M | 375.0M | 434.0M | 816.0M | 55.0M |
| Working Capital Changes | -3.7B | -834.0M | -174.0M | -2.1B | -5.2B |
| Operating Cash Flow | 13.5B | 16.8B | 18.0B | 15.1B | 7.9B |
| Investing Activities | |||||
| Capital Expenditures | -1.7B | -1.0B | -2.4B | -1.8B | -1.6B |
| Acquisitions | -1.4B | -7.1B | -8.0B | 0 | 0 |
| Investment Purchases | - | - | - | - | - |
| Investment Sales | - | - | - | - | - |
| Investing Cash Flow | -2.9B | -7.5B | -9.9B | -1.5B | -5.3B |
| Financing Activities | |||||
| Share Repurchases | - | - | - | - | - |
| Dividends Paid | -5.9B | -5.3B | -5.0B | -3.2B | -3.6B |
| Debt Issuance | - | - | - | - | - |
| Debt Repayment | - | - | - | - | - |
| Financing Cash Flow | -5.9B | -5.3B | -5.0B | -3.2B | -3.6B |
| Free Cash Flow | 12.7B | 13.7B | 12.4B | 11.3B | 8.4B |
| Net Change in Cash | 4.7B | 4.1B | 3.1B | 10.5B | -1.1B |
Cash Flow Trend
L&T Technology Key Financial Ratios
Valuation Ratios
P/E Ratio (TTM)
29.09
Forward P/E
20.99
Price to Book
5.91
Price to Sales
3.11
PEG Ratio
-5.36
Profitability Ratios
Profit Margin
10.71%
Operating Margin
16.83%
Return on Equity
20.77%
Return on Assets
13.14%
Financial Health
Current Ratio
2.16
Debt to Equity
8.91
Beta
-0.05
Per Share Data
EPS (TTM)
₹118.58
Book Value per Share
₹584.07
Revenue per Share
₹1,109.39
Peer Financial Comparison
| Company | Market Cap | P/E Ratio | P/B Ratio | ROE | Profit Margin | Debt/Equity |
|---|---|---|---|---|---|---|
| LTTS | 365.7B | 29.09 | 5.91 | 20.77% | 10.71% | 8.91 |
| Tata Consultancy | 8.7T | 17.63 | 7.64 | 48.40% | 18.43% | 10.39 |
| Infosys | 5.0T | 17.31 | 5.82 | 32.68% | 16.15% | 10.53 |
| HCL Technologies | 3.5T | 20.84 | 4.60 | 23.36% | 12.80% | 6.94 |
| Wipro | 2.1T | 16.13 | 2.42 | 15.49% | 14.25% | 22.85 |
| LTIMindtree Limited | 1.4T | 28.09 | 5.64 | 20.97% | 11.61% | 9.82 |
Financial data is updated regularly. All figures are in the company's reporting currency.





