L&T Tech Analyst Meet Update - Building Blocks In Place For Strong Growth: Prabhudas Lilladher
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Prabhudas Lilladher Report
We attended L&T Technology Services Ltd. investor and analyst meet in which management gave insights into company’s growth strategies and changing industry landscape.
Management aims to reach $1.5 billion annualised revenue run-rate by Q4 FY25 and $1 billion by Q2/Q3 FY23 implying ~18% growth over FY21-25E.
Strong guidance till FY25 reinforces our belief in sustenance of strong demand tailwinds for next three to five years.
We believe that the guidance is achievable given-
strong broad-based engineering research and development spending and expansion in addressable market size,
L&T Technology's focused bets on six strategic high growth areas,
increasing share of software and technology as compared to hardware in ER&D spends, and
investments in sales, large deals and talent pool.
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