Multibagger alert: Investment of Rs 1 lakh in this tech stock would have turned to Rs 2.95 lakh in just one year!

Multibagger alert: Investment of Rs 1 lakh in this tech stock would have turned to Rs 2.95 lakh in just one year!

by 5paisa Research Team Last Updated: Dec 13, 2022 - 12:28 pm 43.4k Views
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L&T Technology Services Ltd, the technology arm of L&T Limited, has turned into a multibagger by delivering returns of 195% in the last one year.

The stock which was trading at Rs 1840.75 on 16 December 2020, closed at Rs 5426 on BSE on 15 December 2021.

L&T Technology Services Ltd is primarily engaged in engineering and R&D services. It offers consultancy, design, development and testing services across the product and process development life cycle. The stock has a 52-week high of Rs 5819.2 and a 52-week low of Rs 1829.15 on BSE.

Last month, the company announced that it has been chosen by NVIDIA and Mavenir as an engineering partner, to accelerate the adoption of the industry’s first converged AI-on-5G platform. Since then, the stock has been buzzing on the bourses.

Looking at the company’s recent financial performance, in Q2FY22, on a consolidated basis, the net revenue went up by 22.3% YoY to Rs 1607.70 crore from Rs 1313.8 crore in the corresponding quarter last year. The PBIDT (ex OI) witnessed a rise of 50% YoY to Rs 349.3 crore from Rs 232.80 crore in Q2FY21. Similarly, the corresponding margin expanded by 401 bps, going from 17.72% to 21.73%. The bottom-line profitability improved by 39% YoY to Rs 230.8 crore from Rs 166.3 crore in the year-ago period.

As per the management, the company is witnessing a healthy deal pipeline and good traction in six segments - Electric Autonomous & Connected Vehicle (EACV), 5G, Med-tech, AI & Digital Products, Digital Manufacturing and Sustainability.

Moreover, during the quarter, the company won 5 deals with TCV exceeding worth USD 10 million, which comprises two deals exceeding USD 25 million. Its patents portfolio stood at 769, out of which 556 are co-authored with its customers and the rest are filed by LTTS.

At 1.04 pm, the share price of L&T Technology Services Ltd was trading at Rs 5465.8, an increase of 0.73% from the previous day’s closing price of Rs 5426 on BSE.

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