Provides engineering research and development services to global automotive, aerospace and industrial machinery companies from delivery centers primarily in India and Europe. Two reporting segments drive revenue: Services, which contributed 77.3% of FY26 segment revenue at Rs 4,256.3 crore, covers outsourced engineering work across the product lifecycle — from concept design and digital manufacturing to full vehicle programs — for clients including Tata Motors, Jaguar Land Rover and the BMW TechWorks joint venture (which has crossed 2,000 engineers); and Technology Solutions, which contributed 22.7% at Rs 1,249.27 crore, covers proprietary digital, software-defined vehicle and AI-enabled tooling delivered under the chromosome.ai platform. The largest new business is a $100 million, five-year strategic engagement with Tenneco signed on June 30, 2026 and executed from the Pune Global Engineering Center, alongside ramp-up of a Japanese OEM full vehicle program and growth in Aerospace, which posted Q1 FY27 revenue of $10.2 million, up 38.1% year-on-year. As of Q1 FY27, headcount stood at 12,579 with trailing-twelve-month attrition of 16%. Employee costs are the dominant input at 49.7% of FY26 revenue, with other operating expenses at 34.8% and depreciation at 2.6%. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Services segment (77%), Technology solutions segment (23%). Services-led, asset-light engineering R&D outsourcing with offshore delivery model
| ₹ crore · consolidated | FY24 | FY25 | FY26 |
|---|---|---|---|
| Revenue | 5,117 | 5,168 | 5,506 |
| EBITDA (ex other income) | 941 | 934 | 745 |
| margin % | 18.4 | 18.1 | 13.5 |
| Owners' profit | 679 | 677 | 547 |
| EPS, as reported (₹) | 16.75 | 16.69 | 13.47 |
| ROE % · ROCE % | 21.1 · 27.5 | 18.9 · 23.5 | 13.9 · 15.0 |
| Debt / equity (x) | 0.00 | 0.00 | 0.17 |
| Cash from operations | 294 | 699 | 776 |
| Capex | (92) | (31) | (34) |
| ₹ crore | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 1,296 | 1,317 | 1,286 | 1,244 | 1,323 | 1,366 | 1,572 | 1,665 |
| Profit before tax | 217 | 226 | 255 | 228 | 221 | 16 | 277 | 242 |
| Net profit | 157 | 169 | 189 | 170 | 166 | 7 | 204 | 181 |
| EPS (₹) | 3.88 | 4.16 | 4.66 | 4.19 | 4.08 | 0.16 | 5.03 | 4.45 |
| Segment | Revenue, ₹ crore | Share % |
|---|---|---|
| Services segment | 4,256 | 77.3 |
| Technology solutions segment | 1,249 | 22.7 |
| Total, before eliminations | 5,506 | 100.0 |
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| L&T TECHNOLOGY SER. LTD. | 35,510 | 26.9 | 5.47 | 16.3 | 19.7 | 21.1 | 15.1 | 19.6 |
| TATA TECHNOLOGIES LIMITED ◆ |
| Date · filing | Category | Importance | 1-day % | 5-day % |
|---|---|---|---|---|
| 11 Sept 2026 · Analyst/investor meetings held; no UPSI shared | investor communications | low | — | — |
| 9 Sept 2026 · Analyst meet held with KAMS, I-Wealth, Indsec Securities | investor communications | low | — | — |
| 8 Sept 2026 · Participation in Axis Capital Consumer and Tech Conference on Sep 11 | board shareholder meetings | low | — | — |
| 7 Sept 2026 · Tata Technologies to host first Investor Day on November 19, 2026 in Mumbai | board shareholder meetings | low | — | — |
| 4 Sept 2026 · Tata Technologies to meet analysts and institutional investors on Sep 9 | board shareholder meetings | low | — | — |
| 13 Aug 2026 · Tata Tech meets institutional investors in Singapore | investor communications | low | — | — |
| 13 Aug 2026 · Tata Technologies meets institutional investors in Singapore | investor communications | low | — | — |
| 8 Aug 2026 · Tata Technologies to attend Avendus Spark INDX conference in Singapore | board shareholder meetings | low | — | — |
| 7 Aug 2026 · Tata Tech confirms Japan OEM vehicle program already disclosed earlier | business updates | high | — | — |
| 7 Aug 2026 · Tata Tech clarifies on Japanese OEM vehicle development programme news | regulatory legal | medium | — | — |
| Where a broker report shows | This document shows | Why |
|---|---|---|
| A rating (BUY / ADD / REDUCE / SELL) |
| 31,087 |
| 55.8 |
| 7.92 |
| 33.8 |
| 13.9 |
| 14.3 |
| — |
| 18.3 |
| INVENTURUS KNOWLEDGE SO L | 29,665 | 38.0 | 10.59 | 27.0 | 25.8 | 27.7 | — | 33.6 |
| NETWEB TECH INDIA LTD | 28,723 | 109.9 | 39.71 | — | 28.5 | 37.5 | — | 15.7 |
| AFFLE 3I LIMITED | 22,105 | 46.2 | 6.05 | 30.4 | 12.5 | 15.2 | 39.3 | 25.8 |
| SAGILITY LIMITED | 21,150 | 21.3 | 2.19 | 12.0 | 9.6 | 11.6 | — | 22.3 |
| BLACK BOX LIMITED | 14,299 | 61.3 | 11.11 | 28.4 | 16.9 | 9.5 | 6.2 | 8.4 |
| E2E NETWORKS LIMITED | 12,632 | 287.1 | — | — | — | — | — | 82.5 |
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 55.8 | 18.9 | 66 of 78 | 16% |
| P/B | 7.9 | 2.2 | 66 of 70 | 6% |
| ROCE | 14.3 | 9.7 | 28 of 87 | 69% |
| ROE | 13.9 | 9.4 | 22 of 72 | 70% |
| Debt / Equity | 0.2 | 0.0 | 50 of 72 | 31% |
| EBITDA margin | 18.3 | 13.0 | 26 of 69 | 63% |
| Revenue growth | 33.8 | 20.8 | 20 of 67 | 71% |
| Profit growth | 6.2 | 14.6 | 39 of 64 | 40% |
| Market cap | 31087 | 309 | 2 of 87 | 99% |
| A state: the latest filed quarter and the measured reactions |
| an event is a fact; a rating is an opinion that requires SEBI RA registration |
| A target price and upside | The current price and the multiples against the group | a target is a forecast; a multiple is a measurement |
| Estimate years marked E | More audited years; no estimates | MarketPing publishes no forecasts — your own model lives on the Models page |
This document is a statistical summary of publicly filed information and market data, prepared by software from primary sources: SEBI results XBRL filed with BSE and NSE, LODR disclosures, shareholding patterns, exchange price data. It contains no research recommendation, no price target and no opinion on the merits of any security, and is not a research report within the meaning of the SEBI (Research Analysts) Regulations, 2014, Regulation 2(1)(w)(vii). Financial statements are as filed (consolidated where the company files consolidated results). Ratios are computed over filed lines. Where a figure is unavailable the table shows a dash rather than an estimate. The business brief is written by MarketPing's reader from the annual report and checked against it; no figure in a table was generated by a model. Nothing here constitutes investment advice, an offer or a solicitation; readers should consult a SEBI-registered adviser before acting. MarketPing is not a SEBI-registered intermediary.
