LTM Shares Tumble 5% After Weak Quarter; Brokerages Cut Target Prices

LTM Ltd. (formerly known as LTI Mindtree) shares fell 5% during early trade on Friday after the IT major reported its fourth quarter earnings for the financial year ending March 2026. The stock extended its decline to a third consecutive session.

For the quarter ended March 2026, LTIM saw its consolidated net profit surge to 43% sequentially to Rs 1,392 crore, according to an exchange filing from the company on Thursday. The firm also declared a dividend of Rs 53 per share.

The company's revenue saw an uptick of 4.7% to Rs 11,292 crore compared to the previous quarter's Rs 10,781 crore. Its earnings before interest and taxes increased 4.7% QoQ (quarter-on-quarter) to Rs 1,709 crore from the preceding quarter's Rs 1,737 crore. The firm's EBIT margin contracted to 15.1% compared to 16.1%.

In light of its Q4 earnings, brokerages have remained largely pessimistic on the counter, with Citi and Jefferies notably issuing target price cuts. 

Brokerages on LTM

Citi on LTIMindtree

• Maintain Sell; Cut TP to Rs 3850 from Rs 3945
• Reported a weak quarter with both revenues and margins falling slightly short of expectations
• Mgmt commentary – looking to continue growth momentum; there may be a weak quarter here & there
• Find consensus expectations and valuations high in the context of all the sectoral challenges

Kotak Securities on LTIMindtree

• Maintain Reduce with TP of Rs 4430
• In a steady state; fully valued
• Slight miss on revenue and margins; hi-tech drives growth; BFSI client a drag
• Deal TCV steady but uninspiring; quality of wins needs a leg up
• AI strategy takes shape and has elements similar to peers
• Stock is expensive

Jefferies on LTIMindtree

• Maintain Underperform; Cut TP to Rs 3700 from Rs 4300
• Weak growth outlook
• Growth in Q4 was supported by its recently won deal
• Key vertical and top clients continue to face growth pressures
• Cut FY27-28 EPS est. by 2-3% to factor weak growth outlook
• Expect 6%/9% CAGR in cc revenues/EPS over FY26-29
• Weak growth outlook should drive further derating

ALSO READ: LTM Q4 Results: Profit Jumps 44%, Dividend Of Rs 53/Share Declared; Check Record Date

Essential Business Intelligence, Continuous LIVE TV, Sharp Market Insights, Practical Personal Finance Advice and Latest Stories — On NDTV Profit.