Announcement
Announcement under Regulation 30 (LODR)-Newspaper Publication 18 Oct
Source: Bse
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.
Data qualityFresh enough for analysisQuote updated 19 Oct, 03:31 pm ISTDetails
Quote19 Oct, 03:31 pm IST
Base fundamentals15 Oct 2026 · screener
Official result overlay30 Sept 2026 · nse-xbrl
Latest result16 Oct, 04:57 pm IST
Score20 Oct, 04:30 am IST · v4.3-runtime-valuation
Tags02 May 2026
Coverage14/14 · 100%
Valuation2026-07-20 · Rf 6.8% · IT P/E 21.4 (n=204)
Technical timing lens
Trend score and candlestick chart
69BullishSMA20 -8.0% / mo · MACD + · sector +14.5pp vs Nifty 500 (3M)
Stock trend: 49
Sector RS: 100
Sector 3M: +8.9% vs Nifty 500 -5.6%
IT FPI tailwindNot confirmed
Latest mapped FPI equity flow was not positive. View sector evidence
Technical chart
LTMD candles · FIT view-5.9%Latest close ₹4264.90 on 2026-10-19
Daily history is available from 2026-02-27; the requested 1Y window is partially covered.
Bar
+0.9%
RSI
54
MACD hist
49.50
52W pos
56%
2026-10-19O ₹4228.00H ₹4360.60L ₹4142.00C ₹4264.90Vol 8.5L sh
Up bar
Down bar
EMA 20
EMA 50
Volume + 20D avg
Result date
RSI(14)
MACD / signal
Market context
Relative performance and chart statistics
Adjusted completed-session prices, rebased to 100
LTMNifty ITNifty 500
- LTM
- +4.4%
- Nifty 500
- -5.6%
- Nifty IT
- +8.1%
- Vs Nifty 500
- +10.0 pp
Chart stats
19 Oct 2026- From 52W high
- -12.1%
- 52W range position
- 56%
- ATR (14)
- 3.5%
- Volume vs 20D
- 1.91x
- Avg traded value
- ₹191 Cr
- 20D price channel
- ₹3,905.6 - ₹4,419.5
₹4,850
₹3,528 - ₹4,850
₹148.6
Latest completed session
20-session average
36.5% annualized volatility
Research snapshot
What the evidence says now
Mixed fundamentals, management evidence is still limited to a financial-only Trust Lite signal, price trend supports entry, and recent execution is consistent.
Suggested next step
Research, do not rush
The evidence is not strongly aligned. Compare peers and wait for a cleaner setup.
U-Score
Legacy · FAIR VALUE55
Fundamental lens: valuation, quality, growth, balance sheet, and cash flow.
Latest result
Bad0
Revenue +13.6% · PAT -0.1% YoY
Technical
Bullish69
Price trend and sector-relative-strength timing.
Valuation
Legacy model+24.8%
Legacy margin-of-safety estimate; the revised evidence label remains in shadow validation.
Trust
Limited evidence83
Financial-only signal; management claim evidence is not sufficient yet.
Financials
Fundamentals, quarterly history, margins, returns and balance-sheet evidence
Financials
Fundamentals, quarterly history, margins, returns and balance-sheet evidence
Latest result
Quarter ended 30 Sept 2026
Bad · 0/100PAT -0% YoY · margin compression · Rev +14% YoY
Filed 16 Oct 2026
Open results browser →| Metric | This quarter | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹11,807.6 Cr | +13.6% | +1.7% |
| EBITDA | ₹2,093.3 Cr | +8.5% | +1.6% |
| Operating margin | 17.7% | -127 bps | -2 bps |
| PAT | ₹1,379.9 Cr | -0.1% | -6.0% |
| PAT margin | 11.7% | -160 bps | -96 bps |
NDF means not disclosed in the current structured filing feed. It is intentionally not treated as zero.
Fundamentals
Valuation
- P/E
- 24.86
- P/B
- 5.22
- EV/EBITDA
- 14.13
- Market Cap
- 129944.00Cr
Profitability
- ROE
- 23.10%
- ROCE
- 29.60%
- ROA
- 13.99%
- Dividend Y
- 1.77%
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
- 8.76
- Book Value
- 810.00
Cash Flow
- FCF Yield
- 2.55%
- FCF Positive Y
- 12/5
- OCF
- 4799.00 Cr
- EPS TTM
- 176.59
Shareholding
- Promoter Hold
- 68.49%
- Promoter Pledge
- 0.00%
- Momentum 52W
- 24%
Financial History
Updated 20/10/2026
Revenue
₹ CrLatest: 42.3k+11.3% vs prev
Net Profit
₹ CrLatest: 5,195+4.3% vs prev
Return on Equity
%Latest: 20.1-3.2% vs prev
Technicals
Trend interpretation, Stage 2, relative strength, volume and indicator evidence
Technicals
Trend interpretation, Stage 2, relative strength, volume and indicator evidence
Daily technical trend read
Mixed signalsSignals are conflicting — long-term trend unclear. RSI 54. Wait for confirmation.
- SMA20 falling (~8.7% over last month) — short-term momentum negative.
- RSI(14) at 54 — rising, no extreme reading.
- MACD above signal, histogram expanding — bullish momentum building.
- 12% off 52W high · 21% 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.
Nifty 500 leadership
Relative Strength & Trend Stage
60
RS percentile
Insufficient history
1M return
-0.2%
3M return
+4.4%
6M return
-7.4%
1Y return
-
RS 1D
-1
RS 20D
+7
Sector rank
#2
Industry rank
#5
Stage evidence
- At least 170 daily sessions are required for the trend-stage read.
50-DMA
price below
200-DMA
unavailable
Sector
leading
Industry
leading
Partial-history RS: the 3M and 6M weights are re-normalised because 12M history is unavailable.
Relative-strength line vs Nifty 500 (base 100)
158 observations
19 Oct 2026Value 100.46-1.85%
RS vs Nifty 500100
Valuation & peers
U-Score 55 · legacy U-Score band FAIR VALUE · valuation evidence and comparable companies
Valuation & peers
U-Score 55 · legacy U-Score band FAIR VALUE · valuation evidence and comparable companies
Premium Compounder
Fundamental score breakdown
U band · FAIR VALUEValuation4/30
Growth12/25
Quality15/20
Balance Sheet12/15
Cash Flow7/10
Piotroski
8/9 (+5)
Penalties
0
Raw sum
55
Why this score?
Top U-Score contributors and drags from the latest stored fundamentals.
55/100 · legacy band FAIR VALUE
Positive drivers
- Piotroski is strong at 8/9.
- Fair-value margin of safety is positive at 24.8%.
- 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 12/25; verify the latest quarterly trend.
- Cash flow is weaker at 7/10; verify the latest quarterly trend.
Sector valuation model
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.
Primary lens
PE and EV/EBITDA relative to revenue growth, margins, and cash conversion.
Secondary checks
Deal pipeline, attrition, dollar revenue growth, FCF yield.
Main risk check
Low PE can reflect weak growth or margin pressure.
PE
24.9
PB
5.2
EV/EBITDA
14.1
ROE
23.1%
ROCE
29.6%
FCF Yield
2.5%
Debt/Equity
0.1
MoS
+24.8%
Score movement
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.
Stored run: 20 Oct 2026
v4.3-runtime-valuation
Final score
55
Previous: 55
Legacy U-Score band
FAIR VALUE
Previous: FAIR VALUE
Margin of safety
+24.8%
Previous: +23.5%
Score history
12 stored score snapshots. Latest stored move: +0 points.
20 Oct 2026
v4.3-runtime-valuation
60
60
60
61
58
57
57
57
55
55
55
55
Factor attribution
No pillar movement versus the latest stored run. Historical score trend will appear after snapshot storage is enabled.
Modelled fair value
Graham Number
₹1,793.98
-137.7% MoS
Growth-justified P/E
32.1
Growth-justified Value
₹5,668.54
+24.8% MoS
PEG
1.50
Comparable companies
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.
Ticker
Name
Why peer
Score
PE
ROE
MoS
Verdict
WIPRO
Large
Wipro Limited
IT Services / Digital
match 156
55
13.9
15.5%
-25%
FAIR VALUE
HEXT
Large
Hexaware Technologies Limited
IT Services / Digital
match 152
60
25.1
24.9%
+17%
UNDERVALUED
PERSISTENT
Mid
Persistent Systems Limited
IT Services / Digital
match 151
58
48.1
27.2%
-55%
FAIR VALUE
BSOFT
Large
BIRLASOFT LIMITED
IT Services / Digital
match 150
61
14.0
14.1%
+60%
UNDERVALUED
COFORGE
Mid
Coforge Limited
IT Services / Digital
match 150
47
44.7
21.4%
-25%
FAIR VALUE
Business, management & trust
Growth engines, risks, management commitments and evidence-backed delivery
Business, management & trust
Growth engines, risks, management commitments and evidence-backed delivery
Business and thesis
Where growth can come from, and what can break the case
Thesis intactReviewed 2026-07-12T07:14:09.604Z
Management commentary snapshot
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.
Current business mix
Revenue Mix by Industry Segments (Q1 FY27)
Latest issuer-disclosed distribution across 4 reported categories.
Financial Services34.0%
Consumer26.6%
Technology & Services20.0%
Production19.4%
Growth engines
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.
Tailwinds
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.
Risk radar
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
Issuer guidance and extracted claims are tracked against later reported outcomes. Treat these as management statements, not IndiaPulse forecasts.
Analyst reading lens
Compare BOTH
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.
Sector KPIs management disclosed
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)
Management forward view
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.
Thesis monitor
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.
Trust Score
83Limited evidence · low confidenceTrust Lite
Trust asks: does management behaviour match later outcomes? Higher is better, but confidence and evidence depth matter as much as the number.
Limited evidence: Claim history is still being built. It ranks around the 95th percentile of the scored universe and 91st percentile within IT. No major sub-score weakness stands out.
This is a financial-behaviour screen, not a claim-tested management reliability verdict.
Computed 20 Oct 2026
management-trust-v1
193 docs text-extracted · 72 concalls text-extracted
Score band
Limited evidence
Financial behaviour is scored, but management claims do not yet have enough outcome checks.
Relative rank
95th percentile
overall median 67 · IT: 91st pctile, median 69 · Large: 88th pctile, median 73
Evidence depth
Financial-only
193 documents have extracted text, but claim history is not strong enough yet.
Claim delivery
Outcome history still building
0 claims extracted · No contradicted claim yet
How to read this Trust Score
Limited evidence · low confidenceWhat it measures
Reliability of management and financial delivery, using financial behaviour only.
Confidence
Treat this as an early read until more concalls and outcomes are matched.
Investor use
Can support position sizing if valuation and trend also agree.
Read 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.
Promoter
86
strong · holding, pledge, alignment
Cash flow
77
strong · profit to cash conversion
Balance sheet
96
strong · leverage and solvency
Discipline
82
strong · capital discipline
Results
75
strong · quarterly consistency
Trust positives
- ▸Promoter holding is 68.5%.
- ▸Promoter pledge is zero.
- ▸FCF yield is positive at 2.6%.
- ▸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.
Continue researching LTM Limited
Important announcements & filings
Latest exchange and company disclosures found within the past two years.
Open source ↗
Announcement
Announcement under Regulation 30 (LODR)-Change in Management 16 Oct - Q2/H1 FY27 results approved; interim dividend of ₹25/share and Anupam Kumar appointed director.
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Press Release / Media Release 7 Oct - LTM expands Google Cloud collaboration to accelerate Gemini Enterprise adoption, adding CoE and customer experience center.
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Press Release / Media Release 30 Sep - LTM’s work with Carrier and PHINIA wins ISG Paragon Awards North America 2026.
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Press Release / Media Release 23 Sep - LTM launched BlueVerse SovereignSphere AI models for enterprise governance, knowledge retention, and domain-specific AI capabilities.
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Press Release / Media Release 21 Sep - LTM appoints Shekhar Kapur as strategic advisor for BlueVerse Craft AI storytelling initiative.
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Updates on Acquisition 22 Aug - LTM UK & Ireland signs SPA to sell Randstad Digital B.V., Randstad Digital France SAS and FINXL Pty Ltd.
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Newspaper Publication 20 Aug
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Press Release / Media Release 6 Aug - LTM partners with Chainguard to enhance software supply chain security via BlueVerse RightLogic.
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Press Release / Media Release 17 Jul - LTM partners with Glean to accelerate enterprise AI adoption.
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Press Release / Media Release 15 Jul - LTM will deploy Microsoft 365 Copilot across L&T Group for ~140,000 employees.
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Newspaper Publication 13 Jul
Source: Bse
All information is for study purposes only. For investment decisions, consult your financial advisor. See Playbook for methodology.