L&T Technology Services Limited has informed the Exchange regarding Proceedings of Annual General Meeting held on June 16, 2025
LTTS · price
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L&T Technology Services (LTTS) held its 13th AGM on June 16, 2025 via video conferencing, chaired by S. N. Subrahmanyan with 66 members attending virtually. In his address, the Chairman highlighted that LTTS is now a USD 1.3 billion revenue company and a leader in the ER&D industry, and mentioned that the acquisition of Intelliswift (a Silicon Valley-based AI and software product development firm) will strengthen its offerings. He also noted the company's re-organization into three focus segments — Mobility, Sustainability, and Tech. Eight ordinary/special resolutions were tabled, including adoption of FY25 financial statements, declaration of a final dividend of Rs. 38 per equity share on a face value of Rs. 2, re-appointment of directors (S. N. Subrahmanyan, Alind Saxena, Chandrasekaran Ramakrishnan, Abhishek Sinha), appointment of Alwyn Jay & Co. as Secretarial Auditors, and approval of a material related party transaction with parent company Larsen & Toubro. Voting results were to be declared within two working days.
The dividend of Rs. 38 per share is a significant reward for shareholders, and reaffirms LTTS's strong cash flows. The AGM was largely procedural with no negative surprises; the Intelliswift acquisition and segment reorganization could be positive long-term growth signals, while the related-party transaction approval reflects ongoing business dependence on parent L&T.