ICICI Securities research report on Larsen and Toubro Technology Services
Takeaways of the Engineering Intelligence (EI) showcase: LTTS launched the ‘Ainfonix’ platform, an AI-led offering that converts complex engineering drawings to usable data points and intelligence. Along with this, LTTS showcased several intelligent offerings that bring AI/EI to hardware, engineering and asset-heavy industries. Through these initiatives, the company is addressing white spaces within ER&D, where effort and cost can be reduced using EI, while simultaneously increasing the scope of work. LTTS is positioning itself as an EI-forward company. Key proposition of these offerings is to reduce lifecycle time sharply across functions and bring AI to solve complex 3D visualisation problems in plant engineering, manufacturing, automotive, and med-tech. The offerings showcased align with LTTS’ pivot to EI, the company’s 6 big bets and its Lakshya-31 plan.
Outlook
We maintain our FY27 revenue growth estimate of mid-single digit and maintain HOLD based on an unchanged one-year forward P/E multiple of 22x with a TP of INR 3,380. Doubling down on proprietary capabilities.
Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
LT Technology Services - 0107026 - icici