We attended the analyst meet of L&T; Technology Services (LTTS). LTTS is one of the leading players in the ER&D; space with a presence in transportation (31.8% of revenue), industrial products (22.8%), telecom & hi-tech (25.7%), process industry (12.9%) and medical devices (6.8%). The company elaborated on its 20:20:20 vision of achieving 20% topline growth, 20% EBITDA margin and 20 new technology patents annually to achieve US$1 billion (bn) in FY21. Of the US$1 bn revenue target, ~US$100 mn will be achieved through acquisitions. The rest would be...