L&T Technology Services

“We achieved our margin aspiration of mid-16% EBIT levels ahead of time by a few quarters and aspire to maintain this margin range in the near future.”

“And the margins remaining in the mid-16% level is after considering all of this.”

“But I'm confirming to you that H2 will be better year-on-year and quarter-to-quarter than H1, sequentially as well as year-on-year, right?”

“we expect revenue momentum to further strengthen in H2 while sustaining healthy EBIT margins.”

“I'm not getting into the quarter on purpose because we are getting into this muted quarter.”

“Nearly half of our Q2 large deal wins were in this segment.”

“As filed earlier, we won a large AI led engagement with a global telecom equipment provider to design end-to-end systems spanning AI and Data centers. This program started ramping up in the current quarter.”

“Large deal wins from earlier quarters are converting into revenue, and we are continuing to have a robust pipeline of the same.”

“Auto Europe remained muted, but we believe it should bounce back next year, and we continue to see significant large deals in the pipeline in Europe.”

“In Trucks and Off highway, we added 4 new logos across global OEMs, led by EI with wins spanning Autonomy, AI, Embedded Software and Digital Programs.”

“Tech for you will be muted in quarter 3. But beyond that, we do see growth coming back.”

“Medical, I would like to say quarter 3, but I'm going to be careful and say quarter 4 because I want to give a little time to our teams as they regroup, rebuild and take things forward.”

“In the current quarter, a specific program ramped down per schedule, and the next phase will kick in only in H2.”

“And we do believe that, that growth trajectory will accelerate sometime in quarter 4 and beyond.”

“Media will be steady. I don't expect anything great from Media. Tech Infra will show growth because of the deal that we have won. Semcon will continue to grow.”

“they are largely focused on growing their businesses in spite of the unstable environment rather than cost cutting.”

“Also, I believe that we are about 9 to 12 months ahead of competition and peer group in this area. So, we're actually gaining market share as opposed to competition.”

“Now the legacy spends are going down, no two questions about it. And that money is shifting, if I may to AI, number one.”

“Industrial Products growth is led by Data Centers, Energy Transition, Motion and Robotics and AI-enabled automation with Electrification and Smart Manufacturing driving a robust pipeline.”

“In Plant Engineering, demand continued steadily across oil and gas and chemicals supported by LNG upstream and nonconventional energy projects.”

“EBIT margin for the quarter stood at 16.3%, improvement of 60 basis points sequentially and 220 basis points year-on-year.”

“Mobility margins in Q2 improved to 16.9%, up 130 basis points sequentially resulting from quality of growth and operational efficiencies.”

“Sustainability margins saw improvement to 29.5%, up 40 basis points sequentially supported by execution of large deals and strong growth in this segment.”

“Tech segment margins improved to 12%, up 50 basis points sequentially”

“Our margin levers mainly will be revenue growth and healthy segment mix, operational efficiency, including AI and productivity gains across delivery and functions and disciplined SG&A management.”

“Quarter two FY27, overall DSO came in at 78 days.”

“Our year-to-date free cash flow was ₹790 crores, a healthy 108% of net income.”

“Our cash and investments stood at ₹4,197 crores end of quarter two FY27 compared with ₹3,394 crores at the end of quarter one FY27.”

“We completed the divestment of our SWC business on schedule, giving us a sharper and more focused portfolio.”

“We have set up a dedicated Data Center Engineering business line, servicing AI Infrastructure, Servers, Storage Ecosystem, ODMs and OEMs. We expect it to become an important growth area as customers redesign infrastructure for AI workloads.”

“EI for Manufacturing and Operations, we launched a new EI lab in partnership with NVIDIA to build and deliver next-gen physical AI native applications across manufacturing, robotics and supply chain.”

“We've got a win in that area. So, part of that is what we are doing. And overall addressable TAM is going up for us.”

“The Board has approved an interim dividend of ₹20 per share”

“We successfully concluded this investment of SWC business in this quarter. This resulted in a onetime gain of ₹165 crores in quarter two FY27.”

“What I'm confirming is that H2 will be better than H1. We expect regular furloughs to happen.”

“Middle East overall is a very small part of our portfolio.”

“Pure-play software world is impacted with the adoption of new age AI tools. We see demand for the AI led software development across existing and new logos in Retail Fintech and Platform Companies.”

“Auto Europe has been in a problem. In fact, for current quarter also, we faced some headwinds from Auto Europe.”

“Revenue was $317.1 million, up 2.7% sequentially and 4.8% year-on-year in constant currency on a continued operations basis.”

“Revenue for the quarter was ₹3,040 crores, representing growth of 3.4% sequentially and 12.1% year-on-year.”

“Net income for the quarter was ₹548 crores, up 53.7% sequentially and 66.8% year-on-year.”

“EPS from continuing operations was ₹35.78 for the quarter, translating into an annualized EPS of ₹143.12 and compared to reported FY26 EPS of ₹115.89, an increase of 23.5%.”

“Going forward, we will only report continued business.”