Buy L&T Technology, target Rs 1940: Siddharth Sedani

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We expect L&T Tech to grow its consolidated revenues at CAGR of 23 percent for the next two years and reach Rs 4895 crore in FY19 and Rs 5696 crore in FY-20 on back of large opportunity present across capex intensive business and sustained the momentum of ramping up of existing clients

With the rise of enabling technologies like 5G, IoT, Artificial Intelligence etc, the digital disruption now has expanded to almost each and every part of the global industrial complex including manufacturing and process industries. This has opened a new and bigger opportunity of more than USD 1.1 trillion markets for engineering outsourcing market.

Larsen & Toubro Technology Services’ has the multi-sectoral presence and domain expertise enables cross-pollination of ideas and best practices leading to differentiated engineering solutions.

Share Market Tips
During the latest quarterly results, the company has reported robust growth in revenues; it grew 33.2 percent in Q1-FY19 to USD 168.9 million as against USD 127.6 million in Q1-FY18 in constant currency terms.

We expect LTTS to grow its consolidated revenues at CAGR of 23 percent for the next two years and reach Rs 4895 crore in FY19 and Rs 5696 crore in FY-20 on back of large opportunity present across capex intensive business and sustained the momentum of ramping up of existing clients.

At CMP the stock is trading at 2x times FY18E consolidated earnings and 16.9x times FY19E consolidated earnings.

Disclaimer: The author is Vice President - Equity Advisory, Anand Rathi Shares and Stock Brokers. The views and investment tips expressed by investment experts/broking houses/rating agencies on Moneycontrol are their own, and not that of the website or its management. Moneycontrol advises users to check with certified experts before taking any investment decisions.

Disclaimer:-The views and investment tips expressed by investment experts are their own. Ripples Advisory advises users to check with certified experts before taking any investment decisions.

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