LTM Limited (LTM)
Large CapIT stocks · Large cap · NSE
LTM is an AI-centric global technology services company and the Business Creativity partner to the world’s largest and most disruptive enterprises. We bring human insights and intelligent systems together to help clients create greater value at the intersection of technology and domain expertise. Our capabilities span integrated operations, transformation, and business AI.
One read, four checks
75+ is strong, 60-74 is usable, 45-59 is mixed, and below 45 needs caution. These are research lenses, not buy/sell instructions.
Mixed fundamentals, management trust is supportive, price trend is neutral, and recent execution is consistent.
Fundamental lens: valuation, quality, growth, balance sheet, and cash flow.
low confidence · 0/0 claims checked
Timing lens: price trend and sector relative strength.
Rolling lens: recent quarterly delivery, not the latest single-result score.
Quarter ended 30 Jun 2026
Good · 65/100Rev +18% YoY · PAT +17% YoY · margin expansion
| Metric | This quarter | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹11,608 Cr | +18.0% | +2.8% |
| EBITDA | ₹2,061 Cr | +25.0% | +4.5% |
| Operating margin | 18.0% | +100 bps | +100 bps |
| PAT | ₹1,469 Cr | +17.1% | +5.9% |
| PAT margin | 12.7% | -9 bps | +38 bps |
NDF means not disclosed in the current structured filing feed. It is intentionally not treated as zero.
Business & thesis
Growth engines, tailwinds/headwinds, and risk radar from management commentary
Business & thesis
Growth engines, tailwinds/headwinds, and risk radar from management commentary
Where growth can come from, and what can break the case
LTM reports Q1 FY27 USD revenue growth of 6.1% YoY (0.1% QoQ) and INR revenue growth of 18.0% YoY (2.8% QoQ). EBIT margin expanded to 15.5%, up 120 bps YoY. Net Profit rose 17.1% YoY. Order inflow stood at $1.68 Bn.
LTM's Q1 FY27 performance reflects progress in its AI-centric strategy, delivering profitable growth. The CEO expresses confidence in continued momentum, supported by a strong order book and healthy pipeline across segments. Margin expansion and client additions are positive indicators, despite a slight sequential dip in order inflow.
Revenue Mix by Industry Segments (Q1 FY27)
Latest issuer-disclosed distribution across 4 reported categories.
AI-centric Strategy
Our AI pivot is now producing tangible proof points for clients, visible in the outcomes we are creating and in the size and nature of the engagements we are winning.
Digital Transformation & Modernization
Selected LTM to consolidate and modernize its technology landscape through an AI-led model, improving operational efficiency.
Data Transformation
Selected LTM as a strategic data transformation partner to consolidate its federated data ecosystem into a unified enterprise data platform.
Cloud Migration
Selected LTM to advance its technology transformation agenda through an AI Insights platform, cloud migration, and modernization initiatives.
AI-centric Strategy Adoption
Our AI pivot is now producing tangible proof points for clients, visible in the outcomes we are creating and in the size and nature of the engagements we are winning.
Strong Order Book & Pipeline
With a strong order book and healthy pipeline across our industry segments, we are confident that our growth momentum will continue to build through the year.
Strategic Partnerships
LTM is an early partner in AWS’s Agentic Process Transformation (APT) program, a high-visibility initiative with dedicated funding.
Client Concentration
Top 5 clients contribute 23.5% of revenue, Top 10 clients contribute 32.0% of revenue.
Currency Fluctuations
Forex losses of INR 2,664 Mn in Q1 FY27. Hedges outstanding value is $5,031 Mn.
Employee Attrition
TTM attrition at 13.3% remains a factor in talent-intensive industry.
Management accountability
What management said, and what results must prove
Management accountability
What management said, and what results must prove
What management said, and what results must prove
Issuer guidance and extracted claims are tracked against later reported outcomes. Treat these as management statements, not IndiaPulse forecasts.
QoQ comparison is crucial for IT services to assess sequential business momentum, project execution, and changes in utilization. YoY comparison provides a broader view of growth trends and mitigates potential seasonality effects.
USD Revenue Growth (Constant Currency)
+0.3% QoQ, +6.4% YoY
EBIT Margin
15.5% (+40 bps QoQ, +120 bps YoY)
Order Inflow
$1.68 Bn (-0.3% QoQ, +3.1% YoY)
TTM Attrition
13.3% (0 bps QoQ, -110 bps YoY)
Confidence in Growth Momentum
With a strong order book and healthy pipeline across our industry segments, we are confident that our growth momentum will continue to build through the year.
AI Strategy Validation
Our AI pivot is now producing tangible proof points for clients, visible in the outcomes we are creating and in the size and nature of the engagements we are winning.
Numbers and claims to verify in the next filings
| Checkpoint | Current evidence | What to verify next |
|---|---|---|
| Order Inflow | $1.68 Bn | Sustained growth in order inflow and conversion into revenue. |
| EBIT Margin | 15.5% | Further expansion or stability, indicating operational efficiency. |
| USD CC Revenue Growth | +0.3% QoQ, +6.4% YoY | Acceleration in sequential growth, particularly in constant currency terms. |
| Client Metrics ($1Mn+) | 407 | Continued expansion in the number of high-value clients. |
Verification checkpoints are IndiaPulse research interpretation, not investment advice.
Trend score and candlestick chart
58NeutralSMA20 +8.3% / mo · MACD −
Technical chart
LTMdaily · 1Y · AUTO+5.7%Daily history is available from 2026-02-27; the requested 1Y window is partially covered.
Daily technical trend read
Mixed signalsSignals are conflicting — long-term trend unclear. RSI 53. Wait for confirmation.
- SMA20 rising (~7.7% over last month) — short-term momentum positive.
- RSI(14) at 53 — falling, no extreme reading.
- MACD below signal but histogram contracting — bearish momentum easing.
- 6% off 52W high · 29% above 52W low.
Mechanical read from the price + indicator series above. Not a recommendation — technical setups can reverse without warning, especially around earnings and macro events.
Relative Strength & Trend Stage
- At least 170 daily sessions are required for the trend-stage read.
Valuation & score drivers
U-Score 57 · FAIR VALUE · pillar breakdown, sector model, fair-value anchor
Valuation & score drivers
U-Score 57 · FAIR VALUE · pillar breakdown, sector model, fair-value anchor
Fundamental score breakdown
FAIR VALUEWhy this score?
Top U-Score contributors and drags from the latest stored fundamentals.
Positive drivers
- Piotroski is strong at 8/9.
- Fair-value margin of safety is positive at 23.7%.
- Balance sheet contributes 12/15 to the score.
Main drags
- Valuation is weaker at 4/30; verify the latest quarterly trend.
- Growth is weaker at 14/25; verify the latest quarterly trend.
- Cash flow is weaker at 7/10; verify the latest quarterly trend.
IT valuation: PE and EV/EBITDA against growth and margins
Asset-light IT companies deserve valuation support only when growth, margins, and cash conversion hold up.
Stored run vs live recompute
This shows the stored score trend when snapshots exist, and also compares the latest stored nightly score with a live recompute from current fundamentals and price.
Score history
12 stored score snapshots. Latest stored move: +1 points.
Factor attribution
Modelled fair value
Trust score
Does management behaviour match later outcomes? Claim delivery, forensic breakdown, evidence depth
Trust score
Does management behaviour match later outcomes? Claim delivery, forensic breakdown, evidence depth
Trust asks: does management behaviour match later outcomes? Higher is better, but confidence and evidence depth matter as much as the number.
High Trust: Claim history is still being built. It ranks around the 98th percentile of the scored universe and 97th percentile within IT. No major sub-score weakness stands out.
High Trust Lite: Promoter holding is 68.5%.
Management behaviour ranks as unusually reliable. Still verify valuation and cycle risk.
overall median 67 · IT: 97th pctile, median 69 · Large: 94th pctile, median 73
176 documents have extracted text, but claim history is not strong enough yet.
0 claims extracted · No contradicted claim yet
How to read this Trust Score
High Trust · low confidenceRead Trust alongside U-Score, result consistency, and technical trend. A cheap stock with weak Trust needs a larger margin of safety; a high Trust score does not make an expensive stock attractive by itself.
Forensic breakdown
Read low sub-scores as due-diligence warnings, not automatic sell signals.
Trust positives
- ▸Promoter holding is 68.5%.
- ▸Promoter pledge is zero.
- ▸FCF yield is positive at 2.4%.
- ▸12 years of positive FCF.
Trust risks
- ▸No major Trust Lite risk flags.
Trust Lite uses financial behaviour only. Prefer claim-tested Trust when enough concall claims have later outcomes.
Financials
Full fundamentals table and 10-year revenue / profit / ROE history
Financials
Full fundamentals table and 10-year revenue / profit / ROE history
Fundamentals
Valuation
- P/E
- 24.10
- P/B
- 5.62
- EV/EBITDA
- 15.20
- Market Cap
- 135081.00Cr
Profitability
- ROE
- 23.10%
- ROCE
- 29.60%
- ROA
- 13.99%
- Dividend Y
- 1.65%
Growth (CAGR)
- Revenue 5Y
- 28.00%
- EPS 5Y
- 23.00%
- Revenue 3Y
- 8.00%
- EPS 3Y
- 7.00%
Balance Sheet
- Debt/Equity
- 0.10
- Interest Coverage
- 28.45×
- Altman Z
- 9.03
- Book Value
- 810.00
Cash Flow
- FCF Yield
- 2.37%
- FCF Positive Y
- 12/5
- OCF
- 4799.00 Cr
- EPS TTM
- 176.40
Shareholding
- Promoter Hold
- 68.49%
- Promoter Pledge
- 0.00%
- Momentum 52W
- 35%
Financial History
Updated 5/9/2026
Revenue
₹ CrNet Profit
₹ CrReturn on Equity
%Peers
Business-comparable names in IT, ranked by similarity
Peers
Business-comparable names in IT, ranked by similarity
Peers
Business-comparable peers in IT — ranked by industry, sub-sector, theme-tag overlap, market cap, and U-Score similarity. Green cells mark the best available peer metric in this table.