L&T Technology Services (LTTS)

L&T Technology Services (LTTS) is a leading global pure play Engineering Research & Development (ER&D) services company. It is a public listed subsidiary of the renowned Larsen & Toubro group. It offers design and development solutions throughout the product development chain in the areas of mechanical and manufacturing engineering, embedded systems, engineering analytics and process engineering. It has active presence in 10 verticals: consumer electronics, semiconductor, aerospace, medical devices, telecom, energy, construction & heavy machinery, automotive, transport, industrial Products. It has presence in 30 countries.

LTTS’ vertical mix consists of Transportation, Industrial Products, Telecom & HiTech, Process Industry and Medical Devices, which contribute 30.9%, 21.8%, 27.9%, 12.7% and 6.7% to total revenues, respectively.

Growth drivers:

Global Engineering Services has an addressable market of US$400bn, which offers huge potential for scalability. With stable relationship with most of the large R&D spenders, LTTS is well-poised to ride the multi-year growth opportunity. LTTS has niche positioning in high growth segments.

Technology changes in select verticals are driving multiple growth opportunities. Automotive industry is changing with traction in ADAS (Advanced Driver Assistance Systems), Electric Vehicles, Telematics etc. Semiconductor industry is also witnessing a strong technology change due to Internet of Things (IoT). These technology shifts will drive upswing in engineering spends and hence, aid LTTS revenue growth trajectory.

LTTS growth drivers:

LTTS is a pure play Engineering Design Services with presence across multiple verticals and hence has a much diverse positioning in comparison to other vendors. LTTS offers ER&D services and solutions to all major industries which include Transportation, Industrial Products, Telecom & Hi-Tech, Medical Devices and Process Industry.

Each of LTTS’ clients have large R&D budgets and hence the company has ample room for scalability. LTTS works with most of the top vendors within its focus verticals. Some of the marquee clients include Intel, DANAHAR, P&G, UTAS, Boeing, Caterpillar.

LTTS Clients:

LTTS clients

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