LTIMindtree Ltd. share price target

We believe, LTIM is well positioned to sustain above-industry growth levels on the back of a strong deal pipeline and its relative higher growth trajectory outlook among larger peers. We maintain BUY rating on LTIM with revised target price of 7,350 (vs...

Q2FY26 Performance: Revenue at US$ 1180.1 mn, was up 2.3% QoQ/4.7% YoY (up 2.4% QoQ CC/ 4.4% YoY CC). In rupee terms, revenue stood at 10,394 crore, up 5.6% QoQ and 10.2% YoY. EBIT margin expanded by ~160 bps QoQ to 15.9%. PAT...

We recommend a BUY rating on the stock.

LTIMindtree delivered strong results in Q2FY26, with revenue reaching USD 1.18bn, up 2.3% & 4.8% QoQ/YoY. EBIT margin expanded by 160bps to 15.9%. The company secured USD 1.59bn in orders, driven by significant deals across key sectors like media, financial services, and manufacturing. AI-driven digital transformation remains central, with projects leveraging their Blueverse platform, cloud migration, and AI governance solutions. Headcount increased by ~2.5K, with extensive AI reskilling of over ~80K employees. LTIMindtree targets near double-digit growth in H2FY26, balancing productivity gains and...

LTIMindtree (LTIM) reported revenue of USD1.1b in 2QFY26, up 2.4% QoQ CC, above our estimate of 2.0% QoQ CC growth. EBIT margin at 15.9% was above our estimate of 14.9%.

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....

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...

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....

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...

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%.

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.