L&T Tech Services Recognises as Leader in Connected Product Engineering

Key Takeaways from L&T Technology Services’ Achievement:  

• L&T Technology Services (LTTS) is positioned as a leader in the Everest Group's Connected Product Engineering Services PEAK Matrix Assessment 2024.
• The recognition points to LTTS's commitment toward excellence and innovations in embedded engineering, especially across Mobility, Tech, and Sustainability.
• The assessment graded the providers based on the leadership in digital engineering, client feed-back, and the potential to deliver impactful and transformative solutions where LTTS ranked high among such strong performers.

This recognition comes as a testament to the commitment of excellence and innovation in embedded engineering, predominantly in areas like Mobility, Tech, and Sustainability at LTTS.

The assessment ranked the engineering service providers based on levels of digital engineering leadership and client feedback coupled with capacity to deliver impactful and transformational solutions.

LTTS emerged as a strong high performer in this ranking further giving the company credence towards its capabilities and the kind of contribution it has been making in connected product engineering.

Nishant Udupa, Practice Director, Everest Group commented that L&T Technology Services has strengthened its capabilities via investments in IPs, labs, CoEs, and partnerships with hyperscalers and technology vendors. LTTS solutions in medical technology and connected home particularly stand out, owing to continuous investments in AI/ML, IoT and edge intelligence. 

About L&T Technology Services Limited:

L&T Technology Services Limited is a public traded subsidiary of Larsen & Toubro Limited. The company concentrates on ER&D services, through consulting, design, development, and testing services throughout the entire lifecycle of product and process development. It serves 69 Fortune 500 companies and 57 of the world's leading ER&D firms in segments like industrial products, medical devices, transportation, telecom, and process industries. LTTS is headquartered in India, with over 23,550 employees. It runs its business in the form of 22 design centers around the world, 30 sales offices, and 108 innovation labs as of June 30, 2024.

About Everest Group:

Everest Group is a research firm that helps business leaders make the right decisions. With customised problem solving, it assists clients to overcome the challenges of markets and improve the effectiveness of their strategies whilst building both operational and financial performance. Focused on technology, business processes, and engineering, Everest Group offers practical advice on talent, sustainability, and sourcing. 

Key Takeaways from PTC Industries Order Win:

• PTC Industries Limited has received a significant order from BAE Systems for Titanium castings for the M777 Ultra-Lightweight Howitzer.
• The Titanium castings were developed over the past two years specifically for the M777 ULH.
• The castings will be manufactured at PTC Industries' state-of-the-art facility in Lucknow, Uttar Pradesh.
• The M777 ULH is the lightest towed howitzer, weighing about 4.2 MT, made possible by the use of thin-walled Titanium castings.
• This order strengthens PTC Industries' ongoing relationship with BAE Systems and highlights its capabilities in providing high-quality components for defence applications.

PTC Industries has spent the last two years developing these Titanium castings for the M777 ULH. This transaction underlines PTC Industries' strong partnership with BAE Systems, demonstrating the company's capacity to deliver crucial components for modern defence systems.

The complicated and lightweight titanium castings will be manufactured at PTC Industries' latest plant in Lucknow, Uttar Pradesh. The M777 ULH is known as the lightest towed howitzer, weighing approximately 4.2 MT, due to its use of thin-walled Titanium castings that allow it to be transported by helicopter.

The castings will be critical components of the highly mobile M777 ULH artillery system, which is noted for its lightweight construction and exceptional performance. PTC Industries has devised a dependable production procedure to ensure the M777s' continued maintenance.

This order solidifies PTC Industries' position as a market leader in providing high-quality titanium castings for vital defence applications.

About PTC Industries Limited:

PTC Industries Limited has been a major Indian maker of precision metal components for critical applications for more than 60 years. Aerolloy Technologies Limited, the company's fully owned subsidiary, manufactures and supplies Titanium and Superalloy castings for aerospace and defence applications in India and for export. The business is significantly increasing its aerospace castings capabilities by investing millions of dollars in a new cutting-edge production plant on 50 acres of freshly acquired property in the Lucknow node of the Uttar Pradesh Defence Industrial Corridor. This plant will be completely vertically integrated, with a titanium and superalloy mill producing aerospace-quality ingots, billets, bars, plates, and sheets from these important and strategic materials.

Key Takeaways from the Gateway Distriparks Stakes Acquire

• Gateway Distriparks has acquired 8,17,500 equity shares, equating to a 0.49% stake in Snowman Logistics.
• This has increased its total holding to 47.62%.  
• The acquisition highlights Gateway’s investment in enhancing its logistics capabilities.

As per a stock exchange filing, Gateway Distriparks Limited has announced the acquisition of 8,17,500 equity shares of Snowman Logistics Limited, translating to a 0.49% stake in the company, for a total consideration of ₹1.3 crore. This acquisition enhances Gateway Distriparks' holding in Snowman Logistics to 47.62%, marking a significant step in the logistics sector. 

The move allows Gateway to strengthen its operational capabilities and expand its market presence. The disclosure is made in compliance with Regulation 29(2) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, reflecting Gateway's commitment to regulatory transparency.

About Gateway Distriparks 

Gateway Distriparks, an end-to-end intermodal logistics service company, presently operates nine Inland Container Depots and Container Freight stations, located across India. The company has 31 train sets and over 500 trailers to position transportation between the company's facilities and the maritime port with seamless first- and last-mile connectivity. Company services include general and bonded warehousing, rail and road transport, container handling, and other value-added services.

About Snowman Logistics 

Snowman Logistics specialises in temperature-controlled logistics services. This includes the storage, road transportation, and distribution of products that require a regulated temperature environment, ensuring the safe handling of perishable goods and other sensitive items throughout the supply chain.

Key Takeaways from Ola’s Launch

• Ola Electric has launched its 'Network Partner Program' to expand EV adoption across India, onboarding 625 partners so far.
• The program allows auto and auto-ancillary sellers from both EV and ICE ecosystems to sell and service Ola Electric products with minimal capital investment and the use of existing infrastructure.
• Ola Electric will support the program by providing display vehicles, test vehicles, and marketing materials, with partners receiving a fee for each successful sale.

To accelerate the adoption of electric vehicles (EVs) across India, Ola Electric has introduced its 'Network Partner Program,' designed to expand its sales and service reach. The initiative, which has already onboarded 625 partners, aims to ramp up to 1,000 partners further ahead of the upcoming festive season, with an ambitious target of enlisting 10,000 partners by the end of 2025.

The program allows partners, including auto and automobile-ancillary sellers in the EV and internal combustion engine (ICE) ecosystems, to sell and service products from Ola Electric with minimal capital investment. Network partners would be able to use their existing network to be sales and service touchpoints for Ola Electric, without having to purchase inventory, or create a separate and distinct offering of products or services for Ola Electric. 

Ola's successful Direct-to-Consumer (D2C) model will continue to be the core of its operations, complementing the Network Partner Program. These partners will use the same digital process flow as Ola Electric stores, ensuring a consistent customer experience. Ola will also provide selective support, including display and test vehicles, along with marketing materials. The company will pay a fee for each successful sale facilitated through the partners.

About Ola Electric Mobility Limited

Established in 2017, Ola Electric Mobility Limited is an electric vehicle company focused on producing electric vehicles and essential components. These include battery packs, motors, and vehicle frames, all manufactured at the Ola Future factory.