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L&T Technology Services L&T Technology Services Limited L&T Technology Services L&T Business Park, TC-2, Tower B, 2nd Floor, North-East Wing, Gate No.5, Saki Vihar Road, Powai, Mumbai-400072. June 17, 2019 National Stock Exchange of India Limited The BSE Limited Exchange Plaza, Bandra-Kurla Complex Phiroze Jeejeebhoy Towers, Bandra (East), Mumbai — 400 051. Dalai Street,Mumbai- 400001 NSE Symbol: LTTS BSE script Code: 540115 Dear Sir, Sub: Regulation 34 of the SEBI (Listing Obligation and Disclosure Requirement) Regulations, 2015 The 7th Annual General Meeting (AGM) of the Company is scheduled to be held on Saturday, July 20, 2019 at 3.30 p.m. at Birla Matushri Sabhagar, 19, Marine Lines, Mumbai - 400 020. Pursuant to Regulation 34(1) of the SEBI (Listing Obligation and Disclosure Requirement) Regulations, 2015, we are submitting herewith the Annual Report of the Company along with the Notice of the AGM for FY 2018-19 which is being dispatched/sent to the shareholders by the permitted mode. The Annual Report along with the Notice of the AGM has been uploaded on the Company's Website at https w w. Itts . com/si tes/defa n ve sto rs/financi al- i niblan nua report/Annual Rej2ort._ .pdf We request you to please take note of the above. Thanking you, Yours sincerely, For L&T Technology Services Limited apil Bhalla Company Secretary (M. No. F3485) Registered Office: L&T House, N. M. Marg, Ballard Estate, Mumbai - 400 001. INDIA, Tel: +97 22 6752 5656 Fax: +91 22 6752 5893 ON : L72900MH2012PLC232169 L&T Technology Services Limited is a Subsidiary of Larsen & Toubro Limited 2018 - 19 AnnuALANNUAL RepoRTREPOrt What’s inside Disclaimer 01 02 This report may contain forward-looking Corporate Overview Statutory Reports statements, which may be identified by their use of words like ‘plans’, ‘expects’, ‘will’, Engineering the Change 01 AGM Notice 22 ‘anticipates’, ‘believes’, ‘intends’, ‘estimates’ or other words of similar meaning. All statements LTTS - India’s leading pure-play Directors’ Report 32 that address expectations of projections engineering services company 02 Management Discussion & Analysis 97 about the future, including but not limited Being #1 04 to statements about the Company’s strategy Annual Business for growth, product development, market Founder Chairman’s Message 05 Responsibility Report 110 position, expenditures and financial results, are forward-looking statements. Forward-looking CEO and Managing Director’s statements are based on certain assumptions Message 06 and expectations of future events. The Global Presence 09 03 Company cannot guarantee that Financial Statements these assumptions and expectations are Our Portfolio of Digital Solutions 10 accurate or will be realised. The Company’s Standalone actual results, performance or achievements Awards & Recognitions 12 could thus differ materially from those projected Auditors’ Report 120 LTTS Facts & Figures 14 in any such forward-looking statements. The Balance Sheet 130 Company assumes no responsibility to publicly Taking our People to the Next level 15 amend, modify or revise any forward-looking Statement of Profit and Loss 131 statements, on the basis of any subsequent Corporate Social Responsibility 16 developments, information or events. The Statement of Cash Flows 132 Board of Directors 17 Company has sourced the industry information Statement of Changes in Equity 134 from the publicly available sources and has not Corporate Information 21 verified the information independently. Notes to Accounts 135 Consolidated Auditors’ Report on Consolidated Financial Statements 177 Consolidated Balance Sheet 186 Consolidated Statement of Profit and Loss 187 Consolidated Statement of Cash Flows 188 Consolidated Statement of Changes in Equity 190 Notes to Consolidated Accounts 191 Information on Subsidiary Companies 240 Glossary 241 2018 - 19 To view or download our online ANNUAL REPOrt reports, please log on to Scan the above QR code to reach www.LTTS.com to our Investor Communications Engineering the Change Establishing excellence is a journey that never ends. While we have grown and scaled up our global operations in the span of a decade, it is now our endeavour to become the world’s leading technology services company, and an engineering partner of choice for brands across the world. We at LTTS believe Being #1 requires the willingness and determination to stay ahead of the times, and develop the skills and offerings that help our customers in their business transformation. With its rich engineering heritage and a brand synonymous with trust and quality, LTTS is helping its global customers develop the smart products, services and solutions of tomorrow. LTTS has participated in a number of innovative and path-breaking projects with global enterprises and startups THE WORLD’S FIRST THE SMARTEST THE WORLD’S FIRST HYBRID AIRCRAFT CAMPUS IN THE AUTONOMOUS ENGINE WORLD I WELDING ROBOT INDIA’S FIRST A UNIQUE AFFORDABLE SOLAR CONNECTIVITY INDIGENOUS BLOOD DRONE CELL COUNTER This is the essence of at L&T Technology Services e L&T Technology Services LTTS - India’s leading pure-play engineering services company L&T Technology Services Limited (LTTS) is a leading global ER&D services Our service offerings extend company with a client base comprising 69 Fortune 500 companies across a wide gamut of and 51 of the world’s top R&D spenders. The Company offers design and development solutions to clients across the entire value chain industries, highlighting our end- of product development and caters to all major industries including to-end engineering capabilities transportation, industrial products, telecom & hi-tech, medical devices Transportation and process industries. LTTS specializes in an array of advanced technologies including but not limited to 5G, artificial intelligence, • Automotive collaborative robots, digital factories and autonomous vehicles. • Aerospace • Rail With its engineering design expertise, innovative solutions • Trucks & Off-Highway portfolio, smart manufacturing and digital capabilities, the Company is intimately involved with its global customers in improving their product and solution development and Industrial Products accelerating their digital roadmaps. • Industrial Machinery Pillars of our success Our Best-in-Class offerings • Power Electronics Mission Our ER&D competencies power our • Building Solutions • We aim to be the best, lead the status as a premiere engineering services • Lighting Engineering curve, nurture brilliance, obsess about company, enabling us to offer a wide • Renewable Energy customer delight and become the only spectrum of services covering multiple partner of choice for our stakeholders sectors, design and development solutions and providing customers with Vision Telecom & Hi-Tech holistic engineering support across their • To be technology explorers, • Semiconductors business framework. • Media & engineering better products, Entertainment services, and life Our services span the product • Consumer Electronics • To be amongst the top 10 global development chain and facilitate • Telecom engineering services companies in solutions in the areas of: the world • Digital Advisory, Smart Products & Services and DMS Values • Embedded Systems Medical Devices • Ethical and professional organisation • Surgical & Diagnostic with respect for individual and • Software Engineering • Patient Mobility diversified global talent • Process Engineering • Therapeutic & • Social harmony and peaceful existence Life Science • Musculoskeletal p LTTS is a publicly-listed subsidiary We are the engineering services of Larsen & Toubro Limited, partner to most of the top ER&D Process Industry the USD 20 billion Indian spenders across industries: • 8 of Top 10 in Transportation • Consumer Packaged conglomerate operating in over • Goods 30 countries 8 of Top 10 in Hi-Tech • Speciality Chemicals • 7 of Top 10 in Industrial Products • Energy & Utilities • 7 of Top 10 in Process Industry • 3 of Top 5 in Medical and Healthcare Annual Report 2018-19 Corporate Overview Statutory Reports Financial Statements 01-21 22-118 119-240 LTTS enables our global customers to: ACCELERATE TIME-TO- INNOVate TO create MARKET FOR THEIR NEW PRODUCTS AND PRODUCTS AND SERVICES 1 2 SOLUTIONS L&T Technology Services = IMPROVE QUALITY REDUCE COST OF & RELIABILITY 4 3 DEVELOPMENT State-of-the-art LTTS’ innovation practice Delivering with speed infrastructure At LTTS, we foster a culture Our investments in emerging Lending a strong foundation to the of CrossPoll!nnovation® that technologies and repertoire of Company’s ER&D framework are its allows us to leverage leading ready-to-deploy digital solutions 49 state-of-the-art R&D labs which technologies across segments to help customers accelerate their support 30+ digital frameworks. bring innovation to our customer’s digital transformations. products and solutions. LTTS has created a strong portfolio of 399 patents many of them in collaboration with our customers. 02 / 03 e L&T Technology Services Being #1 Growth 35.5% 58% Industry leading YoY growth in revenues 0 INR revenue growth from Digital & Leading-Edge in FY19 Technologies Customers 51 0 69 90% Customers across 40 Fortune 500 companies Repeat Business top R&D Houses as customers Assets 14,000+ 49 0 399 Engineers led by seasoned Innovation Labs Patents filed (288 leaders from the industry; patents co-authored 1500+ SMEs & Technical with global customers Architects and 111 by LTTS) Annual Report 2018-19 Corporate Overview Statutory Reports Financial Statements 01-21 22-118 119-240 Founder Chairman’s
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