L&T Technology Services , a global leader in AI, Digital and Engineering R&D services, has announced a global strategic partnership with Emerson, a global automation leader and provider of advanced test and measurement solutions. The announcement was made pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, on May 12, 2026.

Partnership Scope and Strategic Objectives

Under this engagement, LTTS will serve as a global System Integrator and technology development partner, supporting the design, deployment, and lifecycle enablement of advanced systems engineering platforms across industries. The partnership introduces joint engagement approaches for customer projects, positioning LTTS as a key system integration partner for the NI test platform. The collaboration is focused on product engineering and solution development tailored for multiple sectors where system performance, resilience, and sustainability are critical.

The key industries targeted under this partnership include:

• Industrial
• Transportation
• Semiconductors
• Aerospace & Defense

Centre of Excellence at Mysuru Campus

A significant component of the partnership is the establishment of a dedicated Centre of Excellence (CoE) at LTTS' Mysuru campus in India. The CoE will be built on the NI test and measurement platform and will function as a global hub for joint solution development, industrialization, and applied innovation. The following table outlines the key parameters of the CoE and partnership:

The CoE will leverage NI software and hardware to accelerate product development and engineering, test automation, and validation workflows.

Leadership Perspectives

Ritu Favre, President for Emerson's Test and Measurement business, commented on the partnership: "Engineering environments are becoming increasingly software defined, data centric and interconnected. Our open, modular NI platform provides the architectural foundation organizations need to manage growing system complexity while accelerating validation and deployment cycles. Through our collaboration with LTTS as a global system integrator, we extend this platform into industry-specific implementations that help customers move from engineering uncertainty to operational confidence and leveraging the proven technology leadership of NI automated test and measurement solutions."

Alind Saxena, Executive Director & President – Strategic Initiatives & Growth Markets, stated: "Our clients in Mobility, Sustainability and Tech require engineering systems that are intelligent, adaptable and future-ready. Our partnership with Emerson strengthens LTTS' ability to architect and deploy such systems at scale. By combining NI's technology leadership with LTTS' engineering depth, we are creating a powerful foundation for long-term value creation across industrial ecosystems."

About the Companies

L&T Technology Services is a listed subsidiary of Larsen & Toubro (L&T), offering design, development, testing, and sustenance services across products and processes. The company's customer base includes 69 Fortune 500 companies and 57 top ER&D companies across industrial products, medical devices, transportation, telecom & hi-tech, and process industries. As of March 31, 2026, LTTS has over 23,800 employees across 22 global design centers, 31 global sales offices, and 98 innovation labs. Emerson, headquartered in St. Louis, Missouri, is a global automation leader delivering solutions for demanding technology challenges and is focused on enabling customers to optimize operations and accelerate innovation.

L&T Technology Services Limited has submitted its Integrated Annual Report for FY 2025-26, including the Notice of its Fourteenth (14th) Annual General Meeting, to the stock exchanges pursuant to Regulation 34(1) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The submission was made on May 9, 2026, by Company Secretary & Compliance Officer Prasad Shanbhag. Subsequently, on May 10, 2026, the company published newspaper advertisements under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, in The Financial Express (all India editions) in English and Loksatta (Maharashtra editions) in Marathi, disclosing the AGM notice and related information. The 14th AGM is scheduled for Monday, June 1, 2026, at 3:30 p.m. (IST) through Video Conferencing (VC) / Other Audio-Visual Means (OAVM), in compliance with MCA General Circular No. 03/2025 dated September 22, 2025.

AGM and Dividend Details

The key parameters of the 14th AGM and dividend are summarised below:

The Board of Directors, at its meeting held on April 22, 2026, recommended a Final Dividend of Rs. 40/- per equity share of face value of Rs. 2/- each for FY 2025-26, subject to approval by members at the 14th AGM. The total final dividend payment, based on shares outstanding as on March 31, 2026, is expected to be Rs. 4,240 Million. Including the interim dividend of Rs. 18/- per share paid on December 24, 2025, the total dividend for FY 2025-26 amounts to Rs. 58/- per share, translating to a record-high payout ratio of 48% for the year. If approved at the AGM, the final dividend will be paid within 30 days of the meeting exclusively through electronic modes, in accordance with SEBI Listing Regulations (Fifth Amendment) dated November 18, 2025.

FY 2025-26 Financial Performance

The Integrated Annual Report highlights a robust financial performance for FY 2025-26. The following table summarises the key consolidated financial metrics for continuing operations:

Revenue from continuing operations in constant currency grew by 7.7% in FY 2025-26. The 5-year CAGR of revenue stands at 15.1%. The company's CAGR over the last 5 years at 12.4% outpaced the industry growth estimate of 8%.

Segment-wise Performance

LTTS operates across three business segments — Mobility, Sustainability, and Tech. The segment-wise revenue contribution for FY 2025-26 is presented below:

Sustainability emerged as the largest segment and the highest-margin segment, driven by global investments in energy transition, data centers, plant engineering, and industrial automation. The Tech segment registered the highest growth at 25.5%, supported by AI-led engineering, semiconductors, and platform-based solutions. The Mobility segment, while impacted by near-term headwinds in the automotive sector, showed early signs of recovery with growing traction in Software-Defined Vehicles (SDV) and electrification.

Strategic Highlights and Large Deal Momentum

During FY 2025-26, LTTS sustained an average Total Contract Value (TCV) of approximately USD 200 Million for six consecutive quarters, registering a 40% rise in large deal value for the year with USD 855 Million in transformative engagements. Key marquee deals included a USD 100 Million-plus multi-year agreement with a U.S.-based industrial equipment manufacturer in the semiconductor value chain, a USD 75 Million-plus strategic partnership with a leading global energy major, a USD 60 Million multi-year agreement with a U.S.-based wireless telecom provider, and two USD 50 Million-plus engagements. The company also achieved an annualized revenue run rate of USD 400 Million in each of its three segments.

As part of its Lakshya 31 five-year plan, LTTS aspires to deliver 13–15% CAGR over the next five years with EBIT margins in the range of 16–17%. The company also entered into a Business Transfer Agreement on March 25, 2026, for the divestment of its Smart World and Communication (SWC) Business Unit to AMI Paradigm Solutions Private Limited for a cash consideration of Rs. 452 Crore, subject to customary adjustments, with the transaction expected to be completed on or before September 30, 2026.

Operational and ESG Highlights

The following table summarises key operational and ESG metrics for FY 2025-26:

Board and Leadership Changes

During the year, Mr. Abhishek Sinha resigned as Executive Director with effect from August 22, 2025, and Mr. Sudip Banerjee completed his second consecutive term as Independent Director with effect from January 20, 2026. The Board, at its meeting held on April 22, 2026, approved the re-appointment of Mr. Alind Saxena as Executive Director for a further term of three years commencing April 26, 2026, the appointment of Mr. Rajeev Gupta as Executive Director & Chief Financial Officer for a term of three years commencing April 22, 2026, and the appointment of Mr. Amitabh Kant as Independent Director for a term of five years commencing April 22, 2026. Ms. Sumithra Gomatam was also appointed as Independent Director for a term of five years commencing May 9, 2026, subject to member approval at the ensuing AGM. Dr. Keshab Panda will retire by rotation at the AGM and, being eligible, has offered himself for re-appointment.

Notice Dissemination, E-Voting and KYC

The Notice of the AGM along with the Integrated Annual Report for FY 2025-26 has been sent through electronic mode to members whose email addresses are registered with the Company, RTA (KFin Technologies Limited), Depositories, or Depository Participants. The report is also available on the Company's website at https://www.ltts.com/investors/financial-information , as well as on the websites of BSE Limited, National Stock Exchange of India Limited, and NSDL. Remote e-voting will commence at 9:00 a.m. IST on Friday, May 29, 2026, and end at 5:00 p.m. IST on Sunday, May 31, 2026. The cut-off date for e-voting eligibility is Wednesday, May 27, 2026.

Pursuant to the Finance Act, 2020, dividend income is taxable in the hands of members, and the Company is required to deduct tax at source (TDS) as applicable under the Income Tax Act, 2025. Members are requested to submit all requisite documents to avail tax exemption or benefit of deduction of TDS at a lower rate on or before Friday, May 22, 2026. Members holding shares in physical form are required to update their PAN, KYC details, bank account details, and nomination with the RTA at einward.ris@kfintech.com to receive dividends electronically.

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