DQ Estimates Revenue (Rs Crore)
For the year 2016 to 2017 : 6,500
For the year 2017 to 2018: 7,306
Increase of 12%
FY 18 was another year of traction for LTI (Earlier L&T Infotech), which further consolidated its position in the IT outsourcing space. Reflecting on the results, Sanjay Jalona, Chief Executive Officer & Managing Director of the company stated, “We have delivered an industry-leading growth with digital revenues up 42% YoY. Our sustained investments in exponential technologies are establishing us as the digital-partner-of-choice for our customers worldwide. We have won two large deals with net-new TCV in excess of USD 50 million in Q4 and feel good about momentum in our business that would power our FY19 performance.”
The robust performance as per company sources was driven by multiple engines. For example, five of the seven verticals have grown at double digits. Two of its strongest performing verticals were BFS which grew at 23.5% year-on-year and CPG, Retail, and Pharma which grew at 30% year-on-year. Four of the seven service lines have recorded growth of more than 20%. Analytics, AI, and Cognitive led the growth and stood at 40% year-on-year followed by the Enterprise Integration and Mobility at 26%. IMS also grew upwards of 20% and Enterprise Solutions also grew at 20% plus on a year-on-year basis. All its geographies have grown at mid-teens or higher rate.
Looking at the vertical spread, it’s impressive to note that the company has achieved a greater plurality in terms of revenue spread and hence there is no overdependence on one vertical. Similarly, its geographic spread of revenues shows that North America at 68%, Europe at 18% and India 7.3% and the rest have come from other regions. In a way, its dependence on the US geography is also less compared to other outsourcers in the fray.
Some of the significant deal wins over the year were:
- Awarded a transformation engagement with a leading African Bank to transition its core banking system
- Selected as IT Infrastructure and Security management partner by a US-based Industrial Manufacturing company
- Won an analytics engagement with a Global Investment Bank to aggregate and orchestrate data and model a variety of analytics use cases for the firm’s Capital Markets Group
- Awarded an end-to-end IT Infrastructure outsourcing engagement with a European Auto major
- Global Fortune 100 bank selected LTI as a preferred partner to deliver multiple digital initiatives and empower client’s broader FinTech ecosystem
- End-to-end managed services engagement with a financial regulator for maintaining the business applications of its IT division
- European manufacturing company chose LTI to migrate its workload to Oracle Cloud
- Selected as a strategic IT partner to execute an SAP led transformation engagement by a leading European sourcing and services company
- Global specialty insurance holding company engaged LTI to establish a product and digital testing Center of Excellence
- ExxonMobil chose LTI and group company LTTS to digitize Geoscience content by leveraging automation.