Could someone please shed some light on decrease in capital reserve due to investment in âGraphene Semiconductor servicesâ and an equivalent decrease in non-current investments for the same subsidiary in AR2020? I went through some online articles about capital reserves but could not relate it to the above mentioned transaction.
While I havenât read the AR yet, but this simply means that when you make an investment, you take away the money from your assets (non current) investments in this case and equivalently something needs to be deducted from liability side to ensure balance sheet is balanced. Please note that reserves are just accounting entry on liability side, not an absolute cash position kinda thing.
R&D and M&A are an important part for ER&D companies.
They might spend a tad bit extra to acquire a niche product so LTTS should do well overall which this investment.
Hi was anyone able to download the ISG report? For me it keeps saying email id invalid?
These are regular reports and normally there is nothing much to check there. Zennov also publishes such reports every now and then for ER&D companies. If you are not able to download then dont worry 
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Its there on BSE under corporate announcement on 23rd June. You can download from there.
You need a company email id; Gmail / yahoo wonât work. I havenât checked but if possible try using the company email id.
In India L&T group have advantage over Indian IT peers like Infosys, Wipro, HCL as they can leverage their core engineering talent into deploy them in LTTS/LTI for further upskilling. I am not sure if Infosys/HCL can attract good core engineering talent.
Found this article when I was trying to find some answers as to why the market gives Tata Elxsi premium valuation compared to LTTS. The answer is consistency and holding steady during downturns
Elxsi has a massive Tata Ecosystem which gives them insight and captive business from time to time.
JLR is a massive business driver - Please note JLR might do well from now on Vs the past coz of brexit etc. Recently Tata Tech news of a fresh IPO was in floating around. Tata technologies is also an ER&D company catering to tata motors EV. (Ecosystem is also important)
LTTS is also a good player here too. Most favourable bet today would be Elxsi and Ltts in same proportion coz they offer good growth drivers. if one would have kept only 1 stock he might have been in losses coz LTTS didnât do well after LTI - Mindtree merger news. LT companies got effected after that.
LTTS Q1, Fy 2022-23
Revenue growth of 4.7% QoQ and 19.9% YoY in constant currency.
EBITDA Margin at 21.4% vs 20.9% YoY & 21.7% QoQ.
Good growth from Plant Engineering & Transportation.
Attrition at 23.2% vs 20.4% QoQ & 14.5% YoY.
Reaffirm FY23 USD revenue growth guidance of 13.5-15.5%.
We gave ample time to Tata Elxsi and look where it stands on the revenue margin and stock price front.
Exceptional.
LTTS is in the same league for sure. There is a lot of investor and management confidence in the type of work LTTS is taking up. LTTS should also be given time to perform and show things. Next Elxsi is LTTS alone. KPIT is a close 2nd but its a risky bet if i had to play a stock picker job.
Company wise all are good.
This was a webinar in itself of 4 hours! but IMO worth watching if someone wanted to understand which areas exactly LLTS works in. I had to google a lot of terms too so might take half a day entirely.
Analyst Day:
What is the value of this order
Not disclosed in their public communication
Thanks! If you have any other resources, kindly share.
