Moderate growth guidance takes the sheen off L&T Technology stock

Lower than expected Q4 show, premium valuations were other factors

The L&T Technology Services stock shed about 8 per cent in trade after reporting lower than expected performance in the March quarter and weak revenue growth guidance for FY22. Given these factors its premium valuations too led to some selling pressure in trade on Tuesday. 

Barring two verticals out of five (plant and engineering and transport) revenue growth for others were flat or recorded marginal uptick. Sales growth of 3.8 per cent in constant currency basis were lower than the 4.5 per cent estimated by the street and were lagging smaller peers in the engineering research and development or ER&D