LTIMindtree reported a mixed performance for the quarter. Revenue growth was in line with estimate and Ebit margin was below expectation. Revenue stood at Rs 97.7 billion (up 1.1% QoQ in INR terms; down 0.7% QoQ in USD terms; down 0.6% QoQ in CC terms).
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Centrum Broking Report
We expect the macro uncertainty from Q4 to persist in FY26, delaying some project ramp-ups and keeping visibility cautious. However, large-scale AI-driven engagements and a resurgence in discretionary tech spend will drive revenue growth as ongoing cost-optimization and vendor-consolidation mandates continue to fuel a robust deal pipeline.
We expect revenue/Ebitda/PAT to clock 11.6%/17.9%/19.2% CAGR over FY25-FY27E.
We have revised our FY26E/FY27E EPS by (10.3%)/(7.9%). We maintain Buy with a revised target price of Rs 6,177 (versus Rs 7,188 earlier) at a PE of 28x on March'27E EPS
LTIMindtree reported a mixed performance for the quarter. Revenue growth was in line with estimate and Ebit margin was below expectation. Revenue stood at Rs 97.7 billion (up 1.1% QoQ in INR terms; down 0.7% QoQ in USD terms; down 0.6% QoQ in CC terms).
Segmentwise, BFSI was up 1.2% QoQ; Manufacturing was up 2.3% QoQ while Tech, Media & Comm was down 1.5% QoQ; Consumer Business was down 2.4% QoQ, with Healthcare, Life Sc. & Public Services down by 14.0% QoQ in USD terms.
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