L&T Tech Q4 Review - Upward Revisions Likely On The Guidance Front: Motilal Oswal
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Motilal Oswal Report
L&T Technology Services Ltd. reported 3.8% QoQ constant currency growth in Q4 FY21, missing our estimate by 150 basis points.
While segments like plant engineering (up 9.9% QoQ, large deal ramp up) and transportation (up 6.6% QoQ) did well, telecom and hi-tech and medical devices were flat QoQ.
Ebit margin improved 140 basis point QoQ, benefiting from better utilisation and offshore mix.
The company continues to do well on the deal front, adding six large deals (over $10 million), with two deals with a total contract value of over $25 million.
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