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    LTI   INE214T01019

LARSEN & TOUBRO INFOTECH LIMITED

(LTI)
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Larsen & Toubro Infotech Limited completed the acquisition of Cuelogic Technologies Pvt. Ltd.

07/07/2021 EDT

Larsen & Toubro Infotech Limited (NSEI:LTI) signed a definitive agreement to acquire Cuelogic Technologies Pvt. Ltd. for $8.4 million on June 15, 2021. The entire consideration will be paid in cash. The cost of acquisition for 100% share capital of Cuelogic is $8.4 million on a cash-free, debt-free basis excluding working capital adjustments and will be paid as a combination of upfront consideration, retention bonus and performance-based earn-outs. Cuelogic's revenue for financial year 2021 stood at $5.5 million. Pursuant to the approval of Strategic Investment Committee at its meeting held on June 15, 2021, Larsen & Toubro Infotech Limited has signed a definitive agreement to acquire Cuelogic. The acquisition is subject to customary closing conditions which are expected to get completed within 2 to 4 weeks. Niren Patel of BDO India LLP is acting as due diligence advisor to Larsen & Toubro Infotech Limite. Larsen & Toubro Infotech Limited (NSEI:LTI) completed the acquisition of Cuelogic Technologies Pvt. Ltd. on July 7, 2021.


ę S&P Capital IQ 2021
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Financials
Sales 2022 148 B 2 010 M 2 010 M
Net income 2022 21 962 M 298 M 298 M
Net cash 2022 25 219 M 342 M 342 M
P/E ratio 2022 46,7x
Yield 2022 0,82%
Capitalization 1 024 B 13 881 M 13 882 M
EV / Sales 2022 6,74x
EV / Sales 2023 5,69x
Nbr of Employees 38 298
Free-Float 25,4%
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Mean consensus HOLD
Number of Analysts 25
Last Close Price 5 848,30 INR
Average target price 4 575,12 INR
Spread / Average Target -21,8%
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Managers and Directors
Sanjay Jalona Chief Executive Officer, MD & Director
Anil Rander Chief Financial Officer
Anil Kumar Manibhai Naik Non-Executive Chairman
Nachiket Deshpande Chief Operating Officer & Director
Manoj Koul Secretary & Compliance Officer
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