LTIMindtree Ltd. share price target

A strong order pipeline, deeper client engagement, a focus on cost optimisation through the Hence, we reiterate the rating to HOLD on the stock with a revised target price of Rs. 5,646 using a target multiple of 28x P/E on FY27E adjusted EPS....

LTIM reported in-line revenue growth led by a recovery in consumer and healthcare segments, and healthy momentum in BFSI. EBIT margin improvement of ~50bps QoQ was on expected lines, enabled largely by LTIM’s focused margin improvement program.

LTIMindtree delivered a steady Q1 FY26, reporting 2% QoQ and 5.2% YoY USD revenue growth to USD 1,153mn, with a 50bps EBIT margin expansion to 14.3%, supported by efficiency gains from its Fit4Future program. Growth was broadbased, led by Consumer (+6.2%) and Healthcare & Life Sciences (+4.8%), while BFSI, Tech, and Manufacturing saw modest upticks. Europe stood out with 9.7% QoQ growth, offsetting a 6% decline in ROW. Order inflow rose 17% YoY to USD 1.63bn, marking the 3rd consecutive USD 1.5bn+ quarter, driven by key wins in agribusiness, AI-led programs, and digital transformation. Utilization improved to 88.1% despite a slight drop in headcount, reflecting better operational execution....

We resume our coverage with a HOLD rating on the stock.

The revenue growth was broadly in line to our estimates of 0.8% QoQ CC, partly aided by a ramp up of a large deal ($450m) within Retail segment. The deal is expected to see further ramp up and achieve its full potential as it progresses through Q2. Surprisingly, the management remained cautious on BFS, hinting to account-specific weakness, rather than an industry-wide challenge. The growth performance of CMT (1.1% QoQ) and Manufacturing (0.4% QoQ) was also weak vs Consol business growth of 2% QoQ in USD. We...

Reported revenues stood at $1,153 million, up 0.8% q-o-q/ 4.4% y-o-y in CC terms, slightly missing our estimates of 1% q-o-q growth in CC terms. Sequential growth was led by Consumer business and Healthcare, Lifesciences & Public Services verticals.

LTIMindtree (LTIM) reported revenue of USD1.1b in 1QFY26, up 0.8% QoQ CC, below our estimate of 1.5% QoQ CC growth (in line with consensus).

We interacted with LTIMindtree’s management to understand the company’s business strategy and growth prospects. For Q1FY26, LTIMindtree expects strong order inflow to continue, bolstered by a landmark $450 million, seven-year deal, following robust order inflows of $1.68 billion in Q3FY25 and $1.6 billion in Q4FY25.

LTIM reported muted performance with revenue growth down 0.6%/0.7% CC/USD QoQ, underperforming I-Sec estimates. Factors leading to slower growth were, Delayed ramp-up and deferral of deals, Ramp-down in healthcare vertical and Top-5 clients’ revenue declining from AI-led gain sharing.

The revenue growth (-0.6% QoQ CC) was below our estimates (+0.3% QoQ CC), while margins were fairly in line, attributed to project closures and unanticipated delays in deal ramp ups. The new management is doubling down on three key initiatives to maximize revenues and improve profitability. The management expects new initiatives to start reaping benefits from Q1FY26, it expects Q1 to be a growth quarter with sequential improvement in margins. Despite having 34% dependency on tariff sensitive verticals (Manufacturing...

Reported revenues stood at $1,131 million, down 0.6% q-o-q/ 6.3% y-o-y in CC missing our estimates of 0.2% q-o-q growth in CC. Rupee revenues stood at Rs 9,772 crore, up 1.1% q-o-q/9.9% y-o-y.

LTIMindtree (LTIM) reported 4QFY25 revenue of USD1.1b, down 0.6% QoQ CC and below our estimate of flat QoQ CC. FY25 revenue stood at USD4.5b, up 5.0% YoY CC. 4Q EBIT margin at 13.8% was in line with our estimate of 13.8%.

LTIM reported a mixed performance in Q3FY25; revenue growth of 1.8% QoQ CC was in line with our estimate, while EBITM of 13.8% fell slightly short of our expectations.

While 3QFY25 was decent on revenue, ability to counter the wage hike impact was missing resulting in a 170bps EBIT margin drop QoQ

LTIMindtree (LTIM) delivered revenue growth of 1.8% QoQ/5.6% YoY in constant currency (CC) terms vs. our estimate of +1.5% QoQ in CC. In USD terms, revenue came in at USD1.1b (up 1.1% QoQ/5.1% YoY).

At its analyst meet, LTIMindtree (LTIM) highlighted the proliferation of AI across the value chain and the company’s readiness to capitalize on this new opportunity.