LTM
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The author is a Reuters Breakingviews columnist. The opinions expressed are her own. Updates to add graphic.
By Ujjaini Dutta
BENGALURU, Aug 14 (Reuters Breakingviews) - India's $315 billion IT industry was once easy for investors to read: work was largely billed on human effort, so headcount was a straightforward indicator of revenue growth and earnings potential. That correlation is fraying as AI tools made by Anthropic, OpenAI and others mean IT companies can serve clients with fewer people and increase revenue without hiring. New measures are needed to differentiate between firms adapting fast enough and those who can't keep up.
Traditional contracts paid IT companies for hours worked and engineers deployed. That model is fading fast, especially at smaller and more agile firms. Yet the distinction is not reflected in share prices. Investors have indiscriminately dumped shares in giants led by $90 billion Tata Consultancy Services TCS.NS , Infosys INFY.NS and Wipro WIPR.NS, alongside stakes in smaller providers like Blackstone-backed BX.N Mphasis MBFL.NS. The benchmark Nifty IT index .NIFTYIT is down 17% this year.
Some companies are starting to report "AI revenue". Venu Lambu, the boss of $15 billion LTM LTIM.NS, reckons it will become the industry's defining metric but that seems unlikely. At Tata Consultancy, this newly adopted measure is poorly explained and, worse, lumpy. A more nuanced approach is probably required.
From March next year, $5 billion Mphasis,will report “key operating metrics” such as annual recurring revenue and platform attach rate. This suggests it sees a growing share of future revenue from selling software-like services. The firm already generates less than half of its topline from the traditional "Time and Materials" billable hours model. Similarly, $8.5 billion Coforge is building up a portfolio of AI-related software products and tools including 8 AI platforms, 22 AI assets and over 100 reusable AI agents, per its latest post-earnings call.
AI is not only making engineers more productive; it is also encouraging IT firms to package their expertise into reusable software platforms as clients increasing value speed of deployment. So instead of building a custom customer-service application from scratch, an outsourcer could deploy a pre-built AI platform across dozens of clients and charge subscription fees.. Attach rate would show how often clients purchase additional products or services after adopting a platform, offering a clue about future revenue growth.
This shift to a "services-as-software" model is imminent, says Sanjeev Narsipur, Managing Director and Lead of Digital, AI and Technology Services at Alvarez & Marsal. And as this line blurs globally, AI developers OpenAI and Anthropic are also moving into enterprise services. Whatever the way forward, after decades of falling back on old metrics, IT firms need to find new ways to demonstrate their worth.
Follow Ujjaini Dutta on LinkedIn and X.
CONTEXT NEWS
Blackstone-backed Mphasis sees a shift toward "recurring, platform-attached revenue” the company said on July 24 in a post-earnings call. In May, the company said it would start reporting “key operating metrics” such as annual revenue runrate, platform attach rate and net retention rate for the year ending March 2028.
(Editing by Una Galani; Production by Aditya Srivastav)
((For previous columns by the author, Reuters customers can click on DUTTA/[email protected]))
The author is a Reuters Breakingviews columnist. The opinions expressed are her own. Updates to add graphic.
By Ujjaini Dutta
BENGALURU, Aug 14 (Reuters Breakingviews) - India's $315 billion IT industry was once easy for investors to read: work was largely billed on human effort, so headcount was a straightforward indicator of revenue growth and earnings potential. That correlation is fraying as AI tools made by Anthropic, OpenAI and others mean IT companies can serve clients with fewer people and increase revenue without hiring. New measures are needed to differentiate between firms adapting fast enough and those who can't keep up.
Traditional contracts paid IT companies for hours worked and engineers deployed. That model is fading fast, especially at smaller and more agile firms. Yet the distinction is not reflected in share prices. Investors have indiscriminately dumped shares in giants led by $90 billion Tata Consultancy Services TCS.NS , Infosys INFY.NS and Wipro WIPR.NS, alongside stakes in smaller providers like Blackstone-backed BX.N Mphasis MBFL.NS. The benchmark Nifty IT index .NIFTYIT is down 17% this year.
Some companies are starting to report "AI revenue". Venu Lambu, the boss of $15 billion LTM LTIM.NS, reckons it will become the industry's defining metric but that seems unlikely. At Tata Consultancy, this newly adopted measure is poorly explained and, worse, lumpy. A more nuanced approach is probably required.
From March next year, $5 billion Mphasis,will report “key operating metrics” such as annual recurring revenue and platform attach rate. This suggests it sees a growing share of future revenue from selling software-like services. The firm already generates less than half of its topline from the traditional "Time and Materials" billable hours model. Similarly, $8.5 billion Coforge is building up a portfolio of AI-related software products and tools including 8 AI platforms, 22 AI assets and over 100 reusable AI agents, per its latest post-earnings call.
AI is not only making engineers more productive; it is also encouraging IT firms to package their expertise into reusable software platforms as clients increasing value speed of deployment. So instead of building a custom customer-service application from scratch, an outsourcer could deploy a pre-built AI platform across dozens of clients and charge subscription fees.. Attach rate would show how often clients purchase additional products or services after adopting a platform, offering a clue about future revenue growth.
This shift to a "services-as-software" model is imminent, says Sanjeev Narsipur, Managing Director and Lead of Digital, AI and Technology Services at Alvarez & Marsal. And as this line blurs globally, AI developers OpenAI and Anthropic are also moving into enterprise services. Whatever the way forward, after decades of falling back on old metrics, IT firms need to find new ways to demonstrate their worth.
Follow Ujjaini Dutta on LinkedIn and X.
CONTEXT NEWS
Blackstone-backed Mphasis sees a shift toward "recurring, platform-attached revenue” the company said on July 24 in a post-earnings call. In May, the company said it would start reporting “key operating metrics” such as annual revenue runrate, platform attach rate and net retention rate for the year ending March 2028.
(Editing by Una Galani; Production by Aditya Srivastav)
((For previous columns by the author, Reuters customers can click on DUTTA/[email protected]))
Aug 6 (Reuters) - LTM Ltd LTIM.NS:
LTM - COLLABORATES WITH CHAINGUARD
Further company coverage: LTIM.NS
(([email protected];))
Aug 6 (Reuters) - LTM Ltd LTIM.NS:
LTM - COLLABORATES WITH CHAINGUARD
Further company coverage: LTIM.NS
(([email protected];))
By Haripriya Suresh
BENGALURU, July 14 (Reuters) - Indian software services firm LTM LTIM.NS expects AI revenue to outpace its traditional services business, CEO Venu Lambu told Reuters, betting that enterprises will need IT companies to deploy powerful large language models from firms such as Anthropic and OpenAI.
Investor worries that increasingly capable AI models could disrupt the businesses of traditional IT services firms have led to India's Nifty IT index .NIFTYIT falling more than 23% year-to-date, on course for its second-biggest loss since 2008.
LTM, which on Monday signed a partnership with Anthropic to deploy Claude to enterprise clients, is betting that these models will help create a new implementation market for IT firms "with the right context at the right costs".
"Pretty much all" deals have an AI component to them, Lambu said, but expensive frontier models are not needed for every business scenario, he added.
Instead, the acceleration of AI adoption could see projects start off small and varied, "but once you deliver a proof point to the customer, it just multiplies with the same customers," he said, adding he expects enterprise AI adoption to accelerate in the second half of fiscal year 2027.
LTM, which posted a 6.1% year-on-year rise in first-quarter revenue, disclosed its AI revenue for the first time — $150 million on a quarterly run-rate basis, or 12% of total revenue, across three AI-native businesses.
These are segments in which AI is designed as a core component from the ground up, while enterprise AI involves embedding AI into clients' technology stacks and software processes. LTM does not count sales from enterprise AI in its AI revenue bucket.
Larger peer HCLTech reported so-called advanced AI revenue of $171 million in the June quarter, about 4.6% of overall revenue.
A "big concern" for clients is the token costs involved with using AI models, Lambu said, as AI firms are increasingly shifting to token-based pricing that charges customers based on usage. The focus is on helping companies establish governance frameworks to control usage and costs, he added.
(Reporting by Haripriya Suresh in Bengaluru; Editing by Janane Venkatraman)
By Haripriya Suresh
BENGALURU, July 14 (Reuters) - Indian software services firm LTM LTIM.NS expects AI revenue to outpace its traditional services business, CEO Venu Lambu told Reuters, betting that enterprises will need IT companies to deploy powerful large language models from firms such as Anthropic and OpenAI.
Investor worries that increasingly capable AI models could disrupt the businesses of traditional IT services firms have led to India's Nifty IT index .NIFTYIT falling more than 23% year-to-date, on course for its second-biggest loss since 2008.
LTM, which on Monday signed a partnership with Anthropic to deploy Claude to enterprise clients, is betting that these models will help create a new implementation market for IT firms "with the right context at the right costs".
"Pretty much all" deals have an AI component to them, Lambu said, but expensive frontier models are not needed for every business scenario, he added.
Instead, the acceleration of AI adoption could see projects start off small and varied, "but once you deliver a proof point to the customer, it just multiplies with the same customers," he said, adding he expects enterprise AI adoption to accelerate in the second half of fiscal year 2027.
LTM, which posted a 6.1% year-on-year rise in first-quarter revenue, disclosed its AI revenue for the first time — $150 million on a quarterly run-rate basis, or 12% of total revenue, across three AI-native businesses.
These are segments in which AI is designed as a core component from the ground up, while enterprise AI involves embedding AI into clients' technology stacks and software processes. LTM does not count sales from enterprise AI in its AI revenue bucket.
Larger peer HCLTech reported so-called advanced AI revenue of $171 million in the June quarter, about 4.6% of overall revenue.
A "big concern" for clients is the token costs involved with using AI models, Lambu said, as AI firms are increasingly shifting to token-based pricing that charges customers based on usage. The focus is on helping companies establish governance frameworks to control usage and costs, he added.
(Reporting by Haripriya Suresh in Bengaluru; Editing by Janane Venkatraman)
Updates
** Indian IT services firm LTM LTIM.NS on Saturday posted Q1 consol net profit rise of 17%; rev from ops up 18%
** Co expects growth momentum to continue through year thanks to strong order book and healthy pipeline across industry segments, said CEO Venu Lambu
** Shares up 4.5%
EARNINGS IN LINE
** Axis Capital ("buy") cautiously optimistic on sector; says total inflows of $1.7 bln, including two large deal wins, supports management's confidence in growth acceleration
** Citi ("sell") says performance in line with lowered expectations for IT sector as a whole, notes top 5 client revenue increased 4.5% q/q after four consecutive quarters of decline
** Emkay Global ("add", PT 4350 rupees) says deal wins remained healthy with AI rev (~12% of total rev) reaching quarterly run rate of $150 mln
** Emkay says q/q rev growth muted partly due to delayed ramp-up of large deal in India and war-related disruption in Middle East
** JPMorgan says co's acquisition of Randstad's tech consulting business is a sign that organic growth could be tougher to accelerate; maintains "neutral" rating (PT 4050 rupees) and cuts EPS estimates by 3-8% due to FX losses
($1 = 95.7400 Indian rupees)
(Reporting by Abhirami G in Bengaluru)
Updates
** Indian IT services firm LTM LTIM.NS on Saturday posted Q1 consol net profit rise of 17%; rev from ops up 18%
** Co expects growth momentum to continue through year thanks to strong order book and healthy pipeline across industry segments, said CEO Venu Lambu
** Shares up 4.5%
EARNINGS IN LINE
** Axis Capital ("buy") cautiously optimistic on sector; says total inflows of $1.7 bln, including two large deal wins, supports management's confidence in growth acceleration
** Citi ("sell") says performance in line with lowered expectations for IT sector as a whole, notes top 5 client revenue increased 4.5% q/q after four consecutive quarters of decline
** Emkay Global ("add", PT 4350 rupees) says deal wins remained healthy with AI rev (~12% of total rev) reaching quarterly run rate of $150 mln
** Emkay says q/q rev growth muted partly due to delayed ramp-up of large deal in India and war-related disruption in Middle East
** JPMorgan says co's acquisition of Randstad's tech consulting business is a sign that organic growth could be tougher to accelerate; maintains "neutral" rating (PT 4050 rupees) and cuts EPS estimates by 3-8% due to FX losses
($1 = 95.7400 Indian rupees)
(Reporting by Abhirami G in Bengaluru)
Nifty IT index down 28.4% in 2026, trailing a 6.6% drop in Nifty 50
Rupee weakness to mask underlying softness in revenue and profit growth
TCS kicks off earnings on July 9
Brokerages say Infosys and HCLTech could trim upper end of annual revenue forecasts
AI adoption pressures pricing, speeds software development cycles
By Haripriya Suresh and Bharath Rajeswaran
BENGALURU, July 6 (Reuters) - India's top information technology companies are expected to report another subdued quarter, as AI-driven pricing pressure, weak client spending, and global geopolitical turmoil continue to weigh on growth, nine brokerages said.
The April-to-June quarter is usually a strong one for India's $315 billion IT sector, helped by higher billing days and new project starts, but analysts expect a slow start to the fiscal year that would push back hopes of a recovery.
India's largest IT services company, Tata Consultancy Services TCS.NS, kicks off earnings on Thursday with peers Infosys INFY.NS, HCLTech HCLT.NS and Wipro WIPR.NS reporting later this month.
While India's top six IT firms are expected to report around 14% year-on-year revenue growth in rupee terms with net profit rising 12%-13%, this would largely be due to the impact of sharp rupee depreciation. Stripping out exchange rate effects, the companies are expected to post a mere 2.8% revenue growth in constant-currency terms.
Citi expects a fourth straight year of subdued growth for Indian IT firms, while JPMorgan sees revenue growth staying below 3%-4% for the "foreseeable future".
The IT sector is racing to adapt to changing customer needs as companies across the globe step up the use of AI tools and agents to cut costs and quicken software development cycles.
Software firms have slowed hiring, with TCS Chairman N Chandrasekaran saying the "day is not far" when the company would have an equal number of AI agents and employees.
Indian IT firms are in a "perfect storm," Nomura said in its earnings preview, with Middle East conflict-led uncertainty compounding AI-driven pricing pressure.
Fears that AI would disrupt the IT sector's traditional, labour-intensive business model dragged the Nifty IT index .NIFTYIT down 9.5% in the June quarter even as India's benchmark Nifty 50 .NSEI gained 6.9%.
The IT index has slumped about 28% so far in 2026, making it the worst-performing major sector in India.
The impact of AI-led disruption and weakness in client spending will be broad-based, according to PL Capital, with effects visible in the consumer, hi-tech, and telecom verticals.
"Slower decision-making and elongated sales cycle are leading to delays in revenue conversion and execution," the brokerage said in a note.
Annual revenue forecasts will be a key focus for investors. Brokerages say Infosys and HCLTech could narrow or trim the upper end of their forecasts.
Potentially higher interest rates in the U.S., which makes up about 60% of Indian IT firms' revenue, also loom.
(Reporting by Haripriya Suresh and Bharath Rajeswaran in Bengaluru; Editing by Mrigank Dhaniwala)
Nifty IT index down 28.4% in 2026, trailing a 6.6% drop in Nifty 50
Rupee weakness to mask underlying softness in revenue and profit growth
TCS kicks off earnings on July 9
Brokerages say Infosys and HCLTech could trim upper end of annual revenue forecasts
AI adoption pressures pricing, speeds software development cycles
By Haripriya Suresh and Bharath Rajeswaran
BENGALURU, July 6 (Reuters) - India's top information technology companies are expected to report another subdued quarter, as AI-driven pricing pressure, weak client spending, and global geopolitical turmoil continue to weigh on growth, nine brokerages said.
The April-to-June quarter is usually a strong one for India's $315 billion IT sector, helped by higher billing days and new project starts, but analysts expect a slow start to the fiscal year that would push back hopes of a recovery.
India's largest IT services company, Tata Consultancy Services TCS.NS, kicks off earnings on Thursday with peers Infosys INFY.NS, HCLTech HCLT.NS and Wipro WIPR.NS reporting later this month.
While India's top six IT firms are expected to report around 14% year-on-year revenue growth in rupee terms with net profit rising 12%-13%, this would largely be due to the impact of sharp rupee depreciation. Stripping out exchange rate effects, the companies are expected to post a mere 2.8% revenue growth in constant-currency terms.
Citi expects a fourth straight year of subdued growth for Indian IT firms, while JPMorgan sees revenue growth staying below 3%-4% for the "foreseeable future".
The IT sector is racing to adapt to changing customer needs as companies across the globe step up the use of AI tools and agents to cut costs and quicken software development cycles.
Software firms have slowed hiring, with TCS Chairman N Chandrasekaran saying the "day is not far" when the company would have an equal number of AI agents and employees.
Indian IT firms are in a "perfect storm," Nomura said in its earnings preview, with Middle East conflict-led uncertainty compounding AI-driven pricing pressure.
Fears that AI would disrupt the IT sector's traditional, labour-intensive business model dragged the Nifty IT index .NIFTYIT down 9.5% in the June quarter even as India's benchmark Nifty 50 .NSEI gained 6.9%.
The IT index has slumped about 28% so far in 2026, making it the worst-performing major sector in India.
The impact of AI-led disruption and weakness in client spending will be broad-based, according to PL Capital, with effects visible in the consumer, hi-tech, and telecom verticals.
"Slower decision-making and elongated sales cycle are leading to delays in revenue conversion and execution," the brokerage said in a note.
Annual revenue forecasts will be a key focus for investors. Brokerages say Infosys and HCLTech could narrow or trim the upper end of their forecasts.
Potentially higher interest rates in the U.S., which makes up about 60% of Indian IT firms' revenue, also loom.
(Reporting by Haripriya Suresh and Bharath Rajeswaran in Bengaluru; Editing by Mrigank Dhaniwala)
June 30 (Reuters) - Ovh Groupe SA OVH.PA:
LTM TO DELIVER SOVEREIGN CLOUD AND AI IN EUROPE THROUGH STRATEGIC PARTNERSHIP WITH OVHCLOUD
Source text: [ID:]
Further company coverage: OVH.PALTIM.NS
(Gdansk Newsroom)
(([email protected]; +48 58 769 66 00;))
June 30 (Reuters) - Ovh Groupe SA OVH.PA:
LTM TO DELIVER SOVEREIGN CLOUD AND AI IN EUROPE THROUGH STRATEGIC PARTNERSHIP WITH OVHCLOUD
Source text: [ID:]
Further company coverage: OVH.PALTIM.NS
(Gdansk Newsroom)
(([email protected]; +48 58 769 66 00;))
June 24 (Reuters) - LTM Ltd LTIM.NS:
LTIMINDTREE - JOINS ATHENA COALITION TO SECURE OPEN SOURCE SOFTWARE
Source text: ID:nBSE5qfGHj
Further company coverage: LTIM.NS
(([email protected];))
June 24 (Reuters) - LTM Ltd LTIM.NS:
LTIMINDTREE - JOINS ATHENA COALITION TO SECURE OPEN SOURCE SOFTWARE
Source text: ID:nBSE5qfGHj
Further company coverage: LTIM.NS
(([email protected];))
June 15 (Reuters) - LTM Ltd LTIM.NS:
LAUNCHES BLUEVERSE FOR IRUN, AN AI-NATIVE MANAGED SERVICES MODEL
Source text: ID:nBSE4Nwkv
Further company coverage: LTIM.NS
(([email protected];;))
June 15 (Reuters) - LTM Ltd LTIM.NS:
LAUNCHES BLUEVERSE FOR IRUN, AN AI-NATIVE MANAGED SERVICES MODEL
Source text: ID:nBSE4Nwkv
Further company coverage: LTIM.NS
(([email protected];;))
June 10 (Reuters) - LTM Ltd LTIM.NS:
LTM - INTRODUCES BLUEVERSE CURRENCY, AN AI-LINKED OUTCOME-BASED PRICING MODEL
Source text: ID:nBSE8WRl1t
Further company coverage: LTIM.NS
(([email protected];))
June 10 (Reuters) - LTM Ltd LTIM.NS:
LTM - INTRODUCES BLUEVERSE CURRENCY, AN AI-LINKED OUTCOME-BASED PRICING MODEL
Source text: ID:nBSE8WRl1t
Further company coverage: LTIM.NS
(([email protected];))
** India's software services provider LTM LTIM.NS unveiled its five-year strategy on Tuesday, targeting a doubling of revenue through AI-led growth and outcome-based offerings
** Shares of LTIM down 6.67% to 4,052 rupees
MIXED VIEWS ON EXECUTION
** Jefferies ("underperform"; PT: 3,500 rupees) says shift to outcome-based pricing will require significant changes to LTM's pricing and talent strategy and may not be easy to execute
** Adds AI-led deflation, weak discretionary spending and slower growth in key verticals could keep revenue growth in check
** BOB Capital Markets ("hold"; PT: 4,367 rupees) says LTIM's goal of doubling revenue by FY31 appears ambitious, though its target for 200 basis points of margin expansion looks more achievable
** ICICI Direct Research says co well positioned to outperform larger peers through strategic partnerships, stronger deal momentum and a shift toward outcome-based offerings
** Emkay Global ("add"; PT: 4,700 rupees) says LTM will benefit from growing AI adoption and technology convergence
(Reporting by Devika Nair in Bengaluru)
(([email protected];))
** India's software services provider LTM LTIM.NS unveiled its five-year strategy on Tuesday, targeting a doubling of revenue through AI-led growth and outcome-based offerings
** Shares of LTIM down 6.67% to 4,052 rupees
MIXED VIEWS ON EXECUTION
** Jefferies ("underperform"; PT: 3,500 rupees) says shift to outcome-based pricing will require significant changes to LTM's pricing and talent strategy and may not be easy to execute
** Adds AI-led deflation, weak discretionary spending and slower growth in key verticals could keep revenue growth in check
** BOB Capital Markets ("hold"; PT: 4,367 rupees) says LTIM's goal of doubling revenue by FY31 appears ambitious, though its target for 200 basis points of margin expansion looks more achievable
** ICICI Direct Research says co well positioned to outperform larger peers through strategic partnerships, stronger deal momentum and a shift toward outcome-based offerings
** Emkay Global ("add"; PT: 4,700 rupees) says LTM will benefit from growing AI adoption and technology convergence
(Reporting by Devika Nair in Bengaluru)
(([email protected];))
June 2 (Reuters) - LTM Ltd LTIM.NS:
LTM - AIMS TO INCREASE EBIT BY 200 BPS BY FY31
LTM - TARGETS TO DOUBLE THEIR REVENUE BY FY2031
Source text: ID:nBSE2ltL5v
Further company coverage: LTIM.NS
(([email protected];))
June 2 (Reuters) - LTM Ltd LTIM.NS:
LTM - AIMS TO INCREASE EBIT BY 200 BPS BY FY31
LTM - TARGETS TO DOUBLE THEIR REVENUE BY FY2031
Source text: ID:nBSE2ltL5v
Further company coverage: LTIM.NS
(([email protected];))
** India's LTM LTIM.NS down 1.6% at 3,940.90 rupees; set for fourth straight session of losses
** Top loser on Nifty IT .NIFTYIT index, which is up 0.1%
** JP Morgan downgrades IT company to "neutral" from "overweight", cuts price target by ~12% to 4,500 rupees
** IT company last week announced plan to acquire Randstad's tech and consulting business in Europe and Australia at an enterprise value of 160 million euros
** JP Morgan says it does not see obvious horizontal service line or vertical synergies from the acquisition as Randstad focuses on digital engineering and cybersecurity services
** Highlights target company's revenue fell sharply in last two years, while business operates at much lower 4%-5% margins
** Brokerage calls it an "unusual acquisition that can distract management and signals struggling organic initiatives"
** Stock rated "hold" on average by 37 analysts, median PT at 4,811 rupees, per LSEG data
** YTD, LTIM down 35%
(Reporting by Vivek Kumar M)
(([email protected];))
** India's LTM LTIM.NS down 1.6% at 3,940.90 rupees; set for fourth straight session of losses
** Top loser on Nifty IT .NIFTYIT index, which is up 0.1%
** JP Morgan downgrades IT company to "neutral" from "overweight", cuts price target by ~12% to 4,500 rupees
** IT company last week announced plan to acquire Randstad's tech and consulting business in Europe and Australia at an enterprise value of 160 million euros
** JP Morgan says it does not see obvious horizontal service line or vertical synergies from the acquisition as Randstad focuses on digital engineering and cybersecurity services
** Highlights target company's revenue fell sharply in last two years, while business operates at much lower 4%-5% margins
** Brokerage calls it an "unusual acquisition that can distract management and signals struggling organic initiatives"
** Stock rated "hold" on average by 37 analysts, median PT at 4,811 rupees, per LSEG data
** YTD, LTIM down 35%
(Reporting by Vivek Kumar M)
(([email protected];))
May 22 (Reuters) - LTM Ltd LTIM.NS:
LTIMINDTREE - CO'S UNIT EXECUTES PUT OPTION DEED TO BUY RANDSTAD SUBSIDIARIES IN EUROPE AND AUSTRALIA
LTIMINDTREE - ENTERPRISE VALUATION OF UP TO EUR 160 MILLION, SUBJECT TO CUSTOMARY VALUATION ADJUSTMENTS
Source text: ID:nNSE4hsbgH
Further company coverage: LTIM.NS
(([email protected];))
May 22 (Reuters) - LTM Ltd LTIM.NS:
LTIMINDTREE - CO'S UNIT EXECUTES PUT OPTION DEED TO BUY RANDSTAD SUBSIDIARIES IN EUROPE AND AUSTRALIA
LTIMINDTREE - ENTERPRISE VALUATION OF UP TO EUR 160 MILLION, SUBJECT TO CUSTOMARY VALUATION ADJUSTMENTS
Source text: ID:nNSE4hsbgH
Further company coverage: LTIM.NS
(([email protected];))
May 13 (Reuters) - LTM Ltd LTIM.NS:
LTIMINDTREE - LAUNCHES BLUEVERSE M.A.X AI MARKETING SOLUTION BUILT ON SALESFORCE AGENTFORCE
Source text: ID:nNSEf3wYc
Further company coverage: LTIM.NS
(([email protected];))
May 13 (Reuters) - LTM Ltd LTIM.NS:
LTIMINDTREE - LAUNCHES BLUEVERSE M.A.X AI MARKETING SOLUTION BUILT ON SALESFORCE AGENTFORCE
Source text: ID:nNSEf3wYc
Further company coverage: LTIM.NS
(([email protected];))
May 5 (Reuters) - LTM Ltd LTIM.NS:
LTM- LTM AND UNIPHORE PARTNER TO SCALE DOMAIN-SPECIFIC AI ACROSS CORE BUSINESS PROCESSES
Source text: ID:nBSE8zMLbH
Further company coverage: LTIM.NS
(([email protected];))
May 5 (Reuters) - LTM Ltd LTIM.NS:
LTM- LTM AND UNIPHORE PARTNER TO SCALE DOMAIN-SPECIFIC AI ACROSS CORE BUSINESS PROCESSES
Source text: ID:nBSE8zMLbH
Further company coverage: LTIM.NS
(([email protected];))
** Shares of India's LTM LTIM.NS down 2% to 4,438 rupees, biggest loser on Nifty IT index .NIFTYIT in early trade
** The software services provider posted revenue of 112.92 billion rupees ($1.20 billion) for Q4, narrowly beating analyst expectations of 112 billion rupees- LSEG data
** Revenue from the banking and financial services unit—its largest—fell 5.3% y/y, while four other segments rose
** Jefferies ("underperform", cuts TP to 3,700 rupees) says margins fell on wage hikes and commitments to key clients, partly offset by currency gains
** Expects margins to remain range-bound at ~15.5% with limited scope for expansion
** Ambit Capital ("sell", TP: 3,880 rupees) flags lags weak growth and margin pressure, sees valuations stretched
** Antique Stock Broking ("buy", TP:5,625 rupees) sees strong FY27 outlook on deal wins and AI push, flags near-term uncertainty in deal ramp-ups
** YTD stock down 22.27% vs NIFTY IT .NIFTYIT down 22.20%
($1 = 94.1600 Indian rupees)
(Reporting by Devika Nair in Bengaluru)
(([email protected];))
** Shares of India's LTM LTIM.NS down 2% to 4,438 rupees, biggest loser on Nifty IT index .NIFTYIT in early trade
** The software services provider posted revenue of 112.92 billion rupees ($1.20 billion) for Q4, narrowly beating analyst expectations of 112 billion rupees- LSEG data
** Revenue from the banking and financial services unit—its largest—fell 5.3% y/y, while four other segments rose
** Jefferies ("underperform", cuts TP to 3,700 rupees) says margins fell on wage hikes and commitments to key clients, partly offset by currency gains
** Expects margins to remain range-bound at ~15.5% with limited scope for expansion
** Ambit Capital ("sell", TP: 3,880 rupees) flags lags weak growth and margin pressure, sees valuations stretched
** Antique Stock Broking ("buy", TP:5,625 rupees) sees strong FY27 outlook on deal wins and AI push, flags near-term uncertainty in deal ramp-ups
** YTD stock down 22.27% vs NIFTY IT .NIFTYIT down 22.20%
($1 = 94.1600 Indian rupees)
(Reporting by Devika Nair in Bengaluru)
(([email protected];))
Updates with details
BENGALURU, April 23 (Reuters) - India's LTM LTIM.NS posted fourth-quarter revenue that marginally beat expectations, as growth in its four other business verticals offset a decline in its largest banking and financial services segment.
The software services provider reported consolidated revenue of 112.92 billion rupees ($1.20 billion) for the quarter ended March 31, narrowly beating analyst expectations of 112 billion rupees, according to data compiled by LSEG.
LTM's order inflow rose 5.2% on year to $1.69 billion, with 13 new clients added during the quarter, the company said.
Revenue from the banking and financial services unit—its largest—fell 5.3% from a year earlier, while revenue from its four other segments including consumer, healthcare and manufacturing rose.
A weaker rupee also aided revenue growth, as software services firms bill largely in foreign currencies while incurring most costs in rupees.
However, India's $315-billion IT industry continues to struggle with weak tech spending in key markets such as North America, as clients focus on essential or cost-optimisation initiatives amid geopolitical turmoil and macro uncertainties.
India's largest IT companies have yet to flag any broad-based improvement in the demand environment.
LTM's net profit came in at 13.92 billion rupees, a little below analyst estimates of 14.13 billion rupees.
(Reporting by Haripriya Suresh and Devika Nair in Bengaluru; Editing by Janane Venkatraman)
Updates with details
BENGALURU, April 23 (Reuters) - India's LTM LTIM.NS posted fourth-quarter revenue that marginally beat expectations, as growth in its four other business verticals offset a decline in its largest banking and financial services segment.
The software services provider reported consolidated revenue of 112.92 billion rupees ($1.20 billion) for the quarter ended March 31, narrowly beating analyst expectations of 112 billion rupees, according to data compiled by LSEG.
LTM's order inflow rose 5.2% on year to $1.69 billion, with 13 new clients added during the quarter, the company said.
Revenue from the banking and financial services unit—its largest—fell 5.3% from a year earlier, while revenue from its four other segments including consumer, healthcare and manufacturing rose.
A weaker rupee also aided revenue growth, as software services firms bill largely in foreign currencies while incurring most costs in rupees.
However, India's $315-billion IT industry continues to struggle with weak tech spending in key markets such as North America, as clients focus on essential or cost-optimisation initiatives amid geopolitical turmoil and macro uncertainties.
India's largest IT companies have yet to flag any broad-based improvement in the demand environment.
LTM's net profit came in at 13.92 billion rupees, a little below analyst estimates of 14.13 billion rupees.
(Reporting by Haripriya Suresh and Devika Nair in Bengaluru; Editing by Janane Venkatraman)
April 6 (Reuters) - LTM Ltd LTIM.NS:
LTIMINDTREE - TO OFFER MIT OPEN LEARNING'S UNIVERSAL AI TO WORKFORCE WITH UPGRAD ENTERPRISE
Source text: ID:nBSE9bQ3Sq
Further company coverage: LTIM.NS
(([email protected];))
April 6 (Reuters) - LTM Ltd LTIM.NS:
LTIMINDTREE - TO OFFER MIT OPEN LEARNING'S UNIVERSAL AI TO WORKFORCE WITH UPGRAD ENTERPRISE
Source text: ID:nBSE9bQ3Sq
Further company coverage: LTIM.NS
(([email protected];))
Feb 26 (Reuters) - LTIMindtree Ltd LTIM.NS:
LTIMINDTREE - COLLABORATES WITH NVIDIA TO SUPPORT CENTRAL BOARD OF DIRECT TAXES
Source text: ID:nBSEbLfPl3
Further company coverage: LTIM.NS
(([email protected];))
Feb 26 (Reuters) - LTIMindtree Ltd LTIM.NS:
LTIMINDTREE - COLLABORATES WITH NVIDIA TO SUPPORT CENTRAL BOARD OF DIRECT TAXES
Source text: ID:nBSEbLfPl3
Further company coverage: LTIM.NS
(([email protected];))
Adds details from paragraph 2 onwards
Feb 23 (Reuters) - Indian IT services company LTIMindtree LTIM.NS on Monday said it has secured a $100 million, seven-year deal with a Europe-based medical technology company that provides hearing solutions.
The IT company did not reveal the name of the European firm.
Under the agreement, LTIMindtree will develop and support the client's main hearing aid brands and private-label products, including core wearable devices, and a mobile app for users.
Earlier this month, LTIMindtree's the board approved a proposal to rename the company LTM Limited, subject to shareholder and regulatory clearances.
In January, the IT firm said total order bookings for the quarter ended December 31 hit a record $1.69 billion.
(Reporting by Nishit Navin; Editing by Mrigank Dhaniwala)
(([email protected];))
Adds details from paragraph 2 onwards
Feb 23 (Reuters) - Indian IT services company LTIMindtree LTIM.NS on Monday said it has secured a $100 million, seven-year deal with a Europe-based medical technology company that provides hearing solutions.
The IT company did not reveal the name of the European firm.
Under the agreement, LTIMindtree will develop and support the client's main hearing aid brands and private-label products, including core wearable devices, and a mobile app for users.
Earlier this month, LTIMindtree's the board approved a proposal to rename the company LTM Limited, subject to shareholder and regulatory clearances.
In January, the IT firm said total order bookings for the quarter ended December 31 hit a record $1.69 billion.
(Reporting by Nishit Navin; Editing by Mrigank Dhaniwala)
(([email protected];))
Feb 19 (Reuters) - LTIMindtree Ltd LTIM.NS:
LTIMINDTREE - LTM ANNOUNCES STRATEGIC COLLABORATION WITH INDIAN INSTITUTE OF CREATIVE TECHNOLOGIES
LTIMINDTREE - 5-YEAR PARTNERSHIP TO STRENGTHEN SKILLING IN CREATIVE TECHNOLOGIES
Source text: ID:nBSE5CNKvD
Further company coverage: LTIM.NS
(([email protected];))
Feb 19 (Reuters) - LTIMindtree Ltd LTIM.NS:
LTIMINDTREE - LTM ANNOUNCES STRATEGIC COLLABORATION WITH INDIAN INSTITUTE OF CREATIVE TECHNOLOGIES
LTIMINDTREE - 5-YEAR PARTNERSHIP TO STRENGTHEN SKILLING IN CREATIVE TECHNOLOGIES
Source text: ID:nBSE5CNKvD
Further company coverage: LTIM.NS
(([email protected];))
Updates levels, adds graphic after paragraph 11
Feb 5 (Reuters) - Rapid advances in artificial intelligence, triggered in part by Anthropic's latest automation push, could structurally erode the IT sector's high-margin application services revenues, creating downside risks to earnings and valuations, analysts warn.
Shares in India's software exporters .NIFTYIT settled 0.6% lower on Thursday, a day after plunging 6% in their worst session for nearly six years, as AI-driven automation from U.S.-based Anthropic and Palantir fuelled fears of compressed project timelines and disruption to the industry's labour-intensive business model.
The weakness has echoed across global IT stocks this week, extending a broader selloff in companies seen as most exposed to potential AI disruption.
"There is more pain ahead for Indian IT," Jefferies said, adding that Anthropic's and Palantir's claims highlight how AI could potentially erode application service revenues for IT firms.
"With application services accounting for 40–70% of revenues, firms face growth pressures, and consensus growth estimates do not fully reflect this, posing downside risks to valuations."
DISRUPTION
Indian IT firms have been ramping up AI investments and re-skilling efforts, even as weak global tech spending, delayed client decision-making and pricing pressure have weighed on the sector. Foreign investors offloaded a record $8.5 billion worth of Indian IT stocks in 2025.
However, some analysts said the sharp selloff may be overdone.
JPMorgan said that while concerns around AI disruption were not without merit, it was illogical to extrapolate the launch of some tools to an expectation that companies will replace every layer of mission-critical enterprise software.
Domestic brokerage Kotak Institutional Equities described the decline as a case of "plenty of panic over a little flutter".
Among large IT firms, Tata Consultancy Services TCS.NS, Tech Mahindra TEML.NS and LTIMindtree LTIM.NS have higher exposure to application services, which account for about 55%–60% of revenues, while HCL Tech HCLT.NS has the lowest exposure at around 40%.
Their stocks fell between 4% and 7% % on Wednesday, and extended losses on Thursday.
Brokerage Motilal Oswal estimates that 9%-12% of industry revenues could be eliminated over the next four years due to AI-led disruption.
Jefferies expects AI to weigh on IT-sector revenue growth over the next one to two years, arguing that deflation in legacy service-line revenues will more than offset gains from AI-related opportunities.
The IT sub-index has lost 17% since the start of 2025, including Wednesday's selloff, and is on track for its worst week in over four months.
India's IT stocks underperform benchmark Nifty 50 since the start of 2025 https://reut.rs/45Jglkw
Revenue breakdown of top Indian IT companies by segment https://reut.rs/4avX34B
(Reporting by Kashish Tandon and Bharath Rajeswaran in Bengaluru; Writing by Chandini Monnappa; Editing by Mark Potter and Louise Heavens)
(([email protected]; 8800437922;))
Updates levels, adds graphic after paragraph 11
Feb 5 (Reuters) - Rapid advances in artificial intelligence, triggered in part by Anthropic's latest automation push, could structurally erode the IT sector's high-margin application services revenues, creating downside risks to earnings and valuations, analysts warn.
Shares in India's software exporters .NIFTYIT settled 0.6% lower on Thursday, a day after plunging 6% in their worst session for nearly six years, as AI-driven automation from U.S.-based Anthropic and Palantir fuelled fears of compressed project timelines and disruption to the industry's labour-intensive business model.
The weakness has echoed across global IT stocks this week, extending a broader selloff in companies seen as most exposed to potential AI disruption.
"There is more pain ahead for Indian IT," Jefferies said, adding that Anthropic's and Palantir's claims highlight how AI could potentially erode application service revenues for IT firms.
"With application services accounting for 40–70% of revenues, firms face growth pressures, and consensus growth estimates do not fully reflect this, posing downside risks to valuations."
DISRUPTION
Indian IT firms have been ramping up AI investments and re-skilling efforts, even as weak global tech spending, delayed client decision-making and pricing pressure have weighed on the sector. Foreign investors offloaded a record $8.5 billion worth of Indian IT stocks in 2025.
However, some analysts said the sharp selloff may be overdone.
JPMorgan said that while concerns around AI disruption were not without merit, it was illogical to extrapolate the launch of some tools to an expectation that companies will replace every layer of mission-critical enterprise software.
Domestic brokerage Kotak Institutional Equities described the decline as a case of "plenty of panic over a little flutter".
Among large IT firms, Tata Consultancy Services TCS.NS, Tech Mahindra TEML.NS and LTIMindtree LTIM.NS have higher exposure to application services, which account for about 55%–60% of revenues, while HCL Tech HCLT.NS has the lowest exposure at around 40%.
Their stocks fell between 4% and 7% % on Wednesday, and extended losses on Thursday.
Brokerage Motilal Oswal estimates that 9%-12% of industry revenues could be eliminated over the next four years due to AI-led disruption.
Jefferies expects AI to weigh on IT-sector revenue growth over the next one to two years, arguing that deflation in legacy service-line revenues will more than offset gains from AI-related opportunities.
The IT sub-index has lost 17% since the start of 2025, including Wednesday's selloff, and is on track for its worst week in over four months.
India's IT stocks underperform benchmark Nifty 50 since the start of 2025 https://reut.rs/45Jglkw
Revenue breakdown of top Indian IT companies by segment https://reut.rs/4avX34B
(Reporting by Kashish Tandon and Bharath Rajeswaran in Bengaluru; Writing by Chandini Monnappa; Editing by Mark Potter and Louise Heavens)
(([email protected]; 8800437922;))
Jan 19 (Reuters) - LTIMindtree Ltd LTIM.NS:
Q3 CONSOL NET PROFIT 9.71 BILLION RUPEES
Q3 CONSOL REVENUE FROM OPERATIONS 107.81 BILLION RUPEES; IBES EST. 107.31 BILLION RUPEES
Q3 RESULTS INCLUDE CHARGE OF 5.9 BILLION RUPEES DUE TO NEW LABOUR CODES
Further company coverage: LTIM.NS
(([email protected];;))
Jan 19 (Reuters) - LTIMindtree Ltd LTIM.NS:
Q3 CONSOL NET PROFIT 9.71 BILLION RUPEES
Q3 CONSOL REVENUE FROM OPERATIONS 107.81 BILLION RUPEES; IBES EST. 107.31 BILLION RUPEES
Q3 RESULTS INCLUDE CHARGE OF 5.9 BILLION RUPEES DUE TO NEW LABOUR CODES
Further company coverage: LTIM.NS
(([email protected];;))
Jan 16 (Reuters) - LTIMindtree Ltd LTIM.NS:
AWARDED INSIGHT 2.0 PROJECT TO MODERNIZE TAX PLATFORM
PROJECT VALUED AT 30 BILLION RUPEES WITH 7-YEAR MANDATE
Source text: ID:nBSE5ydQvS
Further company coverage: LTIM.NS
(([email protected];))
Jan 16 (Reuters) - LTIMindtree Ltd LTIM.NS:
AWARDED INSIGHT 2.0 PROJECT TO MODERNIZE TAX PLATFORM
PROJECT VALUED AT 30 BILLION RUPEES WITH 7-YEAR MANDATE
Source text: ID:nBSE5ydQvS
Further company coverage: LTIM.NS
(([email protected];))
IT firms face muted quarter on seasonal, economic factors
Brokerages expect 4% revenue growth for tier-1 IT firms
Macro headwinds, cautious client spending impact IT industry
TCS to kickstart earnings season with likely 4.2% revenue growth
Infosys expected to post revenue growth of 8.1%
By Bharath Rajeswaran and Sai Ishwarbharath B
Jan 8 (Reuters) - India's information technology firms are expected to report another muted quarter, as tepid demand in the U.S. and holiday-period client shutdowns continue to weigh on tech spending, nine brokerages said ahead of earnings.
Brokerages expect the top six IT firms by revenue to post about 4% year-on-year revenue growth and a 5% rise in profit for the December quarter on average, reflecting prolonged demand softness, compared with 6.5% revenue growth in the September quarter.
Indian software exporters last reported double-digit revenue growth in the March quarter of 2023, when digital transformation, cloud adoption and remote-work demand surged in the post-pandemic period.
The broader $283 billion Indian IT industry continues to face macro headwinds, including uncertainty over U.S. tariffs, challenges from proposed $100,000 visa fees, and subdued client spending on concerns about growth in the world's largest economy.
India's IT companies earn a significant share of their revenue from the United States, making the world's largest economy crucial for the sector.
Sector bellwether Accenture's ACN.N recent earnings beat Wall Street expectations on AI-led demand, though its unchanged growth outlook underscores the cautious near-term environment.
Although India has no pure-play AI firms, IT companies are beginning to shape AI strategies through acquisitions and partnerships. Brokerages expect AI momentum to build over the next six months and demand to pick up into 2026.
"Clients remain cautious about committing incremental spending to large programs amid macro and tariff uncertainty and a new tech cycle," said Abhishek Pathak, research analyst at Motilal Oswal Financial Services.
U.S. tariff uncertainty, visa worries and weak spending drove record foreign outflows of $8.5 billion from IT stocks in 2025, nearly half of total foreign exits from Indian equities.
The Nifty IT index .NIFTYIT fell 12.6% in 2025, making it the worst-performing sector as Indian markets lagged Asian and emerging-market peers.
Tata Consultancy Services TCS.NS, the country's largest IT firm, will kick off the earnings season on January 12. Its revenue is expected to rise about 4.2% year-on-year, slower than the 5.6% growth reported last year.
Infosys INFY.NS and HCLTech HCLT.NS are forecast to report year-on-year revenue growth of about 8.1% and 4.6%, respectively, compared with 7.6% and 5.1% in the year-ago period.
Most brokerages do not expect HCLTech to upgrade its fiscal 2026 annual revenue forecast of 2%–3%, or Infosys to raise its forecast of 3%–5%.
Earnings across domestic equities are expected to improve in the December quarter on tax cuts, policy easing, stable growth and benign inflation, even as the period remains structurally weak for IT firms.
Fewer working days due to global client holidays weigh on billing and revenue, while brokerages flag margin pressure from furloughs and wage hikes at firms such as TCS and Wipro WIPR.NS.
However, resilience in the BFSI (banking, financial services and insurance) segment, deal ramp-ups, early signs of artificial intelligence strategy formation and rupee depreciation could offer support by mid-2026, six brokerages said.
Brokerages' Q3 View: What to Expect from Top Indian IT Firms https://reut.rs/3LvCNXg
Brokerages' December Quarter Profit Growth Expectations for Indian IT Firms https://reut.rs/4509gf3
Brokerages' December Quarter Revenue Growth Expectations for Indian IT Firms https://reut.rs/4qCsxv9
IT companies underperform the benchmark Nifty 50 since the start of 2025 https://reut.rs/3LxuIBq
(Reporting by Bharath Rajeswaran and Sai Ishwarbharath B in Bengaluru; Editing by Sherry Jacob-Phillips)
(([email protected]; +91 9769003463;))
IT firms face muted quarter on seasonal, economic factors
Brokerages expect 4% revenue growth for tier-1 IT firms
Macro headwinds, cautious client spending impact IT industry
TCS to kickstart earnings season with likely 4.2% revenue growth
Infosys expected to post revenue growth of 8.1%
By Bharath Rajeswaran and Sai Ishwarbharath B
Jan 8 (Reuters) - India's information technology firms are expected to report another muted quarter, as tepid demand in the U.S. and holiday-period client shutdowns continue to weigh on tech spending, nine brokerages said ahead of earnings.
Brokerages expect the top six IT firms by revenue to post about 4% year-on-year revenue growth and a 5% rise in profit for the December quarter on average, reflecting prolonged demand softness, compared with 6.5% revenue growth in the September quarter.
Indian software exporters last reported double-digit revenue growth in the March quarter of 2023, when digital transformation, cloud adoption and remote-work demand surged in the post-pandemic period.
The broader $283 billion Indian IT industry continues to face macro headwinds, including uncertainty over U.S. tariffs, challenges from proposed $100,000 visa fees, and subdued client spending on concerns about growth in the world's largest economy.
India's IT companies earn a significant share of their revenue from the United States, making the world's largest economy crucial for the sector.
Sector bellwether Accenture's ACN.N recent earnings beat Wall Street expectations on AI-led demand, though its unchanged growth outlook underscores the cautious near-term environment.
Although India has no pure-play AI firms, IT companies are beginning to shape AI strategies through acquisitions and partnerships. Brokerages expect AI momentum to build over the next six months and demand to pick up into 2026.
"Clients remain cautious about committing incremental spending to large programs amid macro and tariff uncertainty and a new tech cycle," said Abhishek Pathak, research analyst at Motilal Oswal Financial Services.
U.S. tariff uncertainty, visa worries and weak spending drove record foreign outflows of $8.5 billion from IT stocks in 2025, nearly half of total foreign exits from Indian equities.
The Nifty IT index .NIFTYIT fell 12.6% in 2025, making it the worst-performing sector as Indian markets lagged Asian and emerging-market peers.
Tata Consultancy Services TCS.NS, the country's largest IT firm, will kick off the earnings season on January 12. Its revenue is expected to rise about 4.2% year-on-year, slower than the 5.6% growth reported last year.
Infosys INFY.NS and HCLTech HCLT.NS are forecast to report year-on-year revenue growth of about 8.1% and 4.6%, respectively, compared with 7.6% and 5.1% in the year-ago period.
Most brokerages do not expect HCLTech to upgrade its fiscal 2026 annual revenue forecast of 2%–3%, or Infosys to raise its forecast of 3%–5%.
Earnings across domestic equities are expected to improve in the December quarter on tax cuts, policy easing, stable growth and benign inflation, even as the period remains structurally weak for IT firms.
Fewer working days due to global client holidays weigh on billing and revenue, while brokerages flag margin pressure from furloughs and wage hikes at firms such as TCS and Wipro WIPR.NS.
However, resilience in the BFSI (banking, financial services and insurance) segment, deal ramp-ups, early signs of artificial intelligence strategy formation and rupee depreciation could offer support by mid-2026, six brokerages said.
Brokerages' Q3 View: What to Expect from Top Indian IT Firms https://reut.rs/3LvCNXg
Brokerages' December Quarter Profit Growth Expectations for Indian IT Firms https://reut.rs/4509gf3
Brokerages' December Quarter Revenue Growth Expectations for Indian IT Firms https://reut.rs/4qCsxv9
IT companies underperform the benchmark Nifty 50 since the start of 2025 https://reut.rs/3LxuIBq
(Reporting by Bharath Rajeswaran and Sai Ishwarbharath B in Bengaluru; Editing by Sherry Jacob-Phillips)
(([email protected]; +91 9769003463;))
Oct 27 (Reuters) - LTIMindtree LTIM.NS:
SECURES $100 MILLION MULTI-YEAR DEAL WITH GLOBAL MANUFACTURER
Source text: ID:nBSE7Xcj9w
Further company coverage: LTIM.NS
(([email protected];))
Oct 27 (Reuters) - LTIMindtree LTIM.NS:
SECURES $100 MILLION MULTI-YEAR DEAL WITH GLOBAL MANUFACTURER
Source text: ID:nBSE7Xcj9w
Further company coverage: LTIM.NS
(([email protected];))
Recasts throughout; adds analyst reaction
By Haripriya Suresh and Sai Ishwarbharath B
BENGALURU, Oct 16 (Reuters) - Indian IT firms Infosys INFY.NS, Wipro WIPR.NS and LTIMindtree LTIM.NS beat estimates for quarterly revenue on Thursday and pointed to improving demand in the back half of the year as clients show more willingness to fund AI projects.
Their upbeat results follow a strong showing by market leader Tata Consultancy Services
"We are benefiting from consolidation plays on automation and on using AI for efficiency. That's the big focus that we see from our clients across industries," Infosys CEO Salil Parekh said on a conference call, noting there was a "huge" opportunity in the enterprise AI space.
Buzz around artificial intelligence is prompting more companies to consider funding projects tied to the technology to improve efficiency and drive automation, potentially opening up a major revenue stream for Indian IT firms.
Infosys, which topped analyst estimates for profit and revenue in the second quarter, sees full-year revenue growth of 2-3%, compared with its prior view of 1-3%.
Jefferies analysts said the forecast was achievable due to its "strong" deal bookings.
Smaller peer Wipro, which expects its revenue to range between a 0.5% decline and a 1.5% rise for the third quarter, is also gaining from clients warming up to AI projects.
"New demand that's picking up is AI," Wipro CEO Srini Pallia said. "Clients want to move away from proof of concepts to implementing AI and agentic AI across business processes and workflows."
RISING TIDE LIFTS ALL BOATS
Analysts viewed the quarter as a signal that the IT sector had put the worst behind it.
"The results highlight a stabilizing IT sector gradually regaining traction amid shifting client priorities toward AI and digital acceleration," StoxBox analyst Sagar Shetty said.
Anand Rathi's Sushovon Nayak confirmed that most of the IT firms, which had reported results, had shown "green shoots."
The sector has particularly gained from a recovery in spending by financial services firms.
Infosys and LTIMindtree beat second-quarter revenue estimates, driven by strength in the banking segment.
($1 = 87.8590 Indian rupees)
(Reporting by Haripriya Suresh and Sai Ishwarbharath B; Additional reporting by Kashish Tandon; Editing by Nivedita Bhattacharjee, Dhanya Skariachan and Anil D'Silva)
(([email protected];))
Recasts throughout; adds analyst reaction
By Haripriya Suresh and Sai Ishwarbharath B
BENGALURU, Oct 16 (Reuters) - Indian IT firms Infosys INFY.NS, Wipro WIPR.NS and LTIMindtree LTIM.NS beat estimates for quarterly revenue on Thursday and pointed to improving demand in the back half of the year as clients show more willingness to fund AI projects.
Their upbeat results follow a strong showing by market leader Tata Consultancy Services
"We are benefiting from consolidation plays on automation and on using AI for efficiency. That's the big focus that we see from our clients across industries," Infosys CEO Salil Parekh said on a conference call, noting there was a "huge" opportunity in the enterprise AI space.
Buzz around artificial intelligence is prompting more companies to consider funding projects tied to the technology to improve efficiency and drive automation, potentially opening up a major revenue stream for Indian IT firms.
Infosys, which topped analyst estimates for profit and revenue in the second quarter, sees full-year revenue growth of 2-3%, compared with its prior view of 1-3%.
Jefferies analysts said the forecast was achievable due to its "strong" deal bookings.
Smaller peer Wipro, which expects its revenue to range between a 0.5% decline and a 1.5% rise for the third quarter, is also gaining from clients warming up to AI projects.
"New demand that's picking up is AI," Wipro CEO Srini Pallia said. "Clients want to move away from proof of concepts to implementing AI and agentic AI across business processes and workflows."
RISING TIDE LIFTS ALL BOATS
Analysts viewed the quarter as a signal that the IT sector had put the worst behind it.
"The results highlight a stabilizing IT sector gradually regaining traction amid shifting client priorities toward AI and digital acceleration," StoxBox analyst Sagar Shetty said.
Anand Rathi's Sushovon Nayak confirmed that most of the IT firms, which had reported results, had shown "green shoots."
The sector has particularly gained from a recovery in spending by financial services firms.
Infosys and LTIMindtree beat second-quarter revenue estimates, driven by strength in the banking segment.
($1 = 87.8590 Indian rupees)
(Reporting by Haripriya Suresh and Sai Ishwarbharath B; Additional reporting by Kashish Tandon; Editing by Nivedita Bhattacharjee, Dhanya Skariachan and Anil D'Silva)
(([email protected];))
By Bharath Rajeswaran and Haripriya Suresh
BENGALURU, Oct 7 (Reuters) - India's IT firms are set for another lackluster quarter as weak global demand, steep U.S. tariffs and trade jitters weigh on earnings, six brokerages said ahead of results.
Four forecast year-on-year revenue growth of about 6% and a 5.5% profit rise for the September quarter, despite seasonal strength from project cycles.
"September ... will be another muted quarter for IT," said Abhishek Pathak of Motilal Oswal Financial Services.
"As clients reel under macro and tariff uncertainty, there is hesitation to commit additional dollars to any large initiatives."
The projections point to continued single-digit growth, extending an eight-quarter trend as weak U.S. client spending weighs on the sector.
Indian IT firms last saw double-digit revenue growth in the March quarter of 2023, driven by digital transformation, cloud adoption and remote-work demand after the COVID-19 pandemic.
Tata Consultancy Services TCS.NS, India's biggest IT firm, will open the earnings season on October 9 with revenue expected to rise about 2% year on year, compared to up about 8% in the same period last year.
Infosys INFY.NS and HCLTech HCLT.NS are forecast to post revenue growth of about 8% and 9.5% respectively.
Citi Research expects fiscal 2026 to be the third straight sluggish year for IT, while Ambit Capital warned that weak macros and policy uncertainty could cap 2027 rebound.
U.S.-based Accenture ACN.N last month flagged no "meaningful change" in market conditions, while forecasting full-year 2026 revenue below the LSEG-compiled estimate of 5.3%.
Banking and financial services segment is expected to hold up, while manufacturing and retail face tariff and budget pressures, Systematix Institutional Equities said.
A planned $100,000 H-1B visa fee and a proposed 25% U.S. tax on outsourcing have added to industry concerns, with analysts seeing limited near-term impact but potential shifts in delivery models.
Foreign investors have offloaded 678.36 billion rupees ($7.64 billion) of IT stocks in 2025, the biggest sectoral outflow, dragging the Nifty IT index .NIFTYIT down 20% year-to-date against a 6% gain in the Nifty 50 .NSEI.
Still, Axis Securities said the correction in large- and mid-cap IT stocks has improved valuations, offering a better risk-reward even if a sharp rebound takes time.
($1 = 88.7370 Indian rupees)
India's IT stocks see the highest FPI selling among all sectors in 2025 so far https://reut.rs/3KYf1lZ
Brokerages' expectations from September quarter earnings of Indian IT firms https://reut.rs/3IZXNUK
India's IT stocks lag the benchmark Nifty 50 in 2025 so far https://reut.rs/48XbRsC
Indian IT firms are expected to log single digit revenue growth in Q2FY2026 https://reut.rs/4gYnuBR
(Reporting by Bharath Rajeswaran and Haripriya Suresh in Bengaluru; Editing by Nivedita Bhattacharjee)
(([email protected]; +91 9769003463;))
By Bharath Rajeswaran and Haripriya Suresh
BENGALURU, Oct 7 (Reuters) - India's IT firms are set for another lackluster quarter as weak global demand, steep U.S. tariffs and trade jitters weigh on earnings, six brokerages said ahead of results.
Four forecast year-on-year revenue growth of about 6% and a 5.5% profit rise for the September quarter, despite seasonal strength from project cycles.
"September ... will be another muted quarter for IT," said Abhishek Pathak of Motilal Oswal Financial Services.
"As clients reel under macro and tariff uncertainty, there is hesitation to commit additional dollars to any large initiatives."
The projections point to continued single-digit growth, extending an eight-quarter trend as weak U.S. client spending weighs on the sector.
Indian IT firms last saw double-digit revenue growth in the March quarter of 2023, driven by digital transformation, cloud adoption and remote-work demand after the COVID-19 pandemic.
Tata Consultancy Services TCS.NS, India's biggest IT firm, will open the earnings season on October 9 with revenue expected to rise about 2% year on year, compared to up about 8% in the same period last year.
Infosys INFY.NS and HCLTech HCLT.NS are forecast to post revenue growth of about 8% and 9.5% respectively.
Citi Research expects fiscal 2026 to be the third straight sluggish year for IT, while Ambit Capital warned that weak macros and policy uncertainty could cap 2027 rebound.
U.S.-based Accenture ACN.N last month flagged no "meaningful change" in market conditions, while forecasting full-year 2026 revenue below the LSEG-compiled estimate of 5.3%.
Banking and financial services segment is expected to hold up, while manufacturing and retail face tariff and budget pressures, Systematix Institutional Equities said.
A planned $100,000 H-1B visa fee and a proposed 25% U.S. tax on outsourcing have added to industry concerns, with analysts seeing limited near-term impact but potential shifts in delivery models.
Foreign investors have offloaded 678.36 billion rupees ($7.64 billion) of IT stocks in 2025, the biggest sectoral outflow, dragging the Nifty IT index .NIFTYIT down 20% year-to-date against a 6% gain in the Nifty 50 .NSEI.
Still, Axis Securities said the correction in large- and mid-cap IT stocks has improved valuations, offering a better risk-reward even if a sharp rebound takes time.
($1 = 88.7370 Indian rupees)
India's IT stocks see the highest FPI selling among all sectors in 2025 so far https://reut.rs/3KYf1lZ
Brokerages' expectations from September quarter earnings of Indian IT firms https://reut.rs/3IZXNUK
India's IT stocks lag the benchmark Nifty 50 in 2025 so far https://reut.rs/48XbRsC
Indian IT firms are expected to log single digit revenue growth in Q2FY2026 https://reut.rs/4gYnuBR
(Reporting by Bharath Rajeswaran and Haripriya Suresh in Bengaluru; Editing by Nivedita Bhattacharjee)
(([email protected]; +91 9769003463;))
By Sai Ishwarbharath B and Haripriya Suresh
BENGALURU, Oct 6 (Reuters) - Indian IT services company LTIMindtree LTIM.NS announced on Monday that it had won its largest-ever deal, with two sources aware of the matter pegging the size at $580 million.
The sixth largest software services exporter in India said the deal was with a leading global media and entertainment company, but did not disclose the name of the client.
The company did not immediately respond to a request for comment on the size of the deal or the name of the client.
The deal comes at a time when India's $283-billion IT sector is facing macroeconomic uncertainties, tariff-related risks and changes in U.S. immigration policy. India's IT companies will report their numbers for the September quarter starting Thursday, and analysts expect muted results.
LTIMindtree had also announced its now second-largest deal of $450 million in May, which sources said was with U.S. agribusiness giant Archer-Daniels-Midland ADM.N.
The company's shares closed 3% higher on Monday, marking their biggest daily jump in nearly five months.
LTIMindtree said it will play a role in the client's efforts "to streamline operations and modernise delivery models, incorporating automation, process optimisation, and vendor consolidation".
HFS Research CEO Phil Fersht said mid-cap companies such as LTIMindtree, Coforge COFO.NS and Mphasis MBFL.NS are showing momentum in large deal wins as "they're faster and more flexible in shaping AI-led value propositions".
"While the large caps are still optimising legacy portfolios, these mid-caps are winning new logos and expanding into outcome-based, AI-powered deals," he added.
(Reporting by Sai Ishwarbharath B and Haripriya Suresh; Editing by Vijay Kishore)
By Sai Ishwarbharath B and Haripriya Suresh
BENGALURU, Oct 6 (Reuters) - Indian IT services company LTIMindtree LTIM.NS announced on Monday that it had won its largest-ever deal, with two sources aware of the matter pegging the size at $580 million.
The sixth largest software services exporter in India said the deal was with a leading global media and entertainment company, but did not disclose the name of the client.
The company did not immediately respond to a request for comment on the size of the deal or the name of the client.
The deal comes at a time when India's $283-billion IT sector is facing macroeconomic uncertainties, tariff-related risks and changes in U.S. immigration policy. India's IT companies will report their numbers for the September quarter starting Thursday, and analysts expect muted results.
LTIMindtree had also announced its now second-largest deal of $450 million in May, which sources said was with U.S. agribusiness giant Archer-Daniels-Midland ADM.N.
The company's shares closed 3% higher on Monday, marking their biggest daily jump in nearly five months.
LTIMindtree said it will play a role in the client's efforts "to streamline operations and modernise delivery models, incorporating automation, process optimisation, and vendor consolidation".
HFS Research CEO Phil Fersht said mid-cap companies such as LTIMindtree, Coforge COFO.NS and Mphasis MBFL.NS are showing momentum in large deal wins as "they're faster and more flexible in shaping AI-led value propositions".
"While the large caps are still optimising legacy portfolios, these mid-caps are winning new logos and expanding into outcome-based, AI-powered deals," he added.
(Reporting by Sai Ishwarbharath B and Haripriya Suresh; Editing by Vijay Kishore)
India File is published every Tuesday. Think your friend or colleague should know about us? Forward this newsletter to them. They can also subscribe here.
Sept 23 - By Ira Dugal, Editor Financial News, with global Reuters staff
U.S. President Donald Trump's move to drastically hike H-1B visa fees will raise Indian technology firms' costs of hiring workers and providing services in the U.S., forcing them to rethink their operating models. It already set them back by nearly $10 billion in lost market value of their shares on Monday, the first day of trading, after the news, but the impact of the decision could go much beyond that. That's our focus this week.
And the Indian central bank is likely to opt for continuity in its inflation targeting framework. Scroll down for more on that.
THIS WEEK IN ASIA-PACIFIC
The candidates vying to be Japan's next leader
Hardest-hit Vietnam risks losing $25 billion from US tariffs, UN estimates
China cracks down on online content inciting hostility, pessimism
UK, Australia and Canada recognise Palestinian state, Israel condemns decision
Trump says 'bad things' will happen if Afghanistan does not return Bagram air base
A NEW 'MAGA' FRONT
Donald Trump has opened a new front in his fight for MAGA, or 'Make America Great Again', by driving up the fees on H-1B visas, used by foreign tech workers, most notably Indians. Train American workers instead, Trump said, making the announcement.
The decision put the tech industry squarely in the middle of the global trade and immigration tensions, leaving Indian firms rethinking their plans and policymakers calculating the wider hit from Trump's latest salvo.
The initial announcement - which suggested an annual fee of $100,000 on anyone with an H-1B visa entering the U.S. from September 21 compared with just a few thousand dollars previously - sparked panic, with companies asking workers who hold such visas and are overseas to rush back. Travellers cancelled plans and scrambled to find flights to the U.S.
India's foreign ministry said the move could disrupt families, adding that the U.S. and India have both benefited from mobility of skilled workers.
The final version, however, was watered down, imposing a one-time fee on new visas only. Nevertheless, global tech executives have pushed back, warning of rising costs for large companies and startups.
While Amazon AMZN.O uses the largest number of H-1B visas, leading Indian IT services firms are all among the top-10 sponsors of the visas. And Indians are the biggest beneficiaries of these temporary work permits.
Analysts expect the immediate financial impact on margins and profitability to be manageable but warn of rising uncertainties for the sector. Brokerage ICICI Securities pegged the average hit on earnings per share at about 6% while Jefferies estimated it at 4%-13% for different firms based on the nature of business and use of these visas. They did not specify the time period for the profit hit.
Read here to understand the impact on India's IT services model.
In response, the Nifty IT index .NIFTYIT fell 3% on Monday, wiping out nearly $10 billion in market value. The index of IT stocks has been the worst performer among sectoral indices in the Indian market so far this year, down 18% compared to a 6% gain for the benchmark Nifty 50 .NSEI.
RIPPLE EFFECTS WILL BECOME EVIDENT LATER
The wider implications of a clampdown on Indian tech workers in the U.S. will only play out over time.
With fewer such professionals welcome in the U.S., wage growth in the domestic industry could be hurt at a time when a squeeze on profitability and increased use of AI have already brought on job cuts.
The sector, which employs 5.67 million people, is a significant driver of demand in the Indian economy.
Citi analysts believe remittance flows from the U.S. could also be impacted over time but added that quantifying the impact is difficult.
Displaced workers could find a home in other countries such as Britain and South Korea, which are looking at easier visa policies to attract talent.
Some analysts believe the visa fee hike may eventually benefit India by increasing offshoring via global capability centres (GCC), used by foreign firms for a range of services from accounting to research, which have powered up the country's services exports in recent years.
The H-1B shock and increasing uncertainty "could accelerate GCC trajectory and lift GCC exports as a share of India’s total services exports over time," said Madhavi Arora, chief economist at Mumbai-headquartered Emkay Global Financial Services.
But this growth also could be short-circuited.
A bill known as the HIRE Act and introduced by U.S. Republican Senator Bernie Moreno has made the industry nervous. Any version of the bill, which proposes taxing companies that hire foreign workers over Americans, could limit the offshoring opportunity.
"If the repercussion of this (H-1B fee increase) is substantial offshoring, it might invite a reaction in terms of service tariffs or offshoring taxes," brokerage house Ambit Capital said in a note.
How will Trump's latest move impact India's tech sector and the broader economy? Write to me at [email protected].
MARKET MATTERS
India's central bank is likely to recommend maintaining the inflation target of 4% for another five years, Reuters reported.
The inflation targeting framework is up for review by March 2026.
The continuation of the target means predictability in the trajectory of interest rates but also leaves room for at least one more cut this year as headline inflation remains within the central bank's target while core inflation has been stickier.
The Reserve Bank of India had sought views on whether the target should be changed from headline inflation to core inflation and if the target band should be different from the current 2%-6%.
With most stakeholders backing the current framework, the central bank is likely to suggest its continuation to the government.
THIS WEEK'S MUST-READ
European Union nations are keeping a close watch on any wildlife export requests from India and, in particular, Vantara, a private zoo run by the philanthropic arm of a conglomerate controlled by Asia's richest family, the Ambanis.
Indian investigators cleared the sanctuary of any wrongdoing this week but its operations continue to draw global scrutiny.
Read here to know why the Spix's macaw, a vivid-blue parrot, found itself in the middle of controversy around Vantara.
India retail inflation over last 10 years https://reut.rs/41ZGtWk
H-1B visas issued by nationality https://reut.rs/4nAde4A
(Reporting by Ira Dugal; Editing by Muralikumar Anantharaman)
(([email protected]; +91-9833024892;))
India File is published every Tuesday. Think your friend or colleague should know about us? Forward this newsletter to them. They can also subscribe here.
Sept 23 - By Ira Dugal, Editor Financial News, with global Reuters staff
U.S. President Donald Trump's move to drastically hike H-1B visa fees will raise Indian technology firms' costs of hiring workers and providing services in the U.S., forcing them to rethink their operating models. It already set them back by nearly $10 billion in lost market value of their shares on Monday, the first day of trading, after the news, but the impact of the decision could go much beyond that. That's our focus this week.
And the Indian central bank is likely to opt for continuity in its inflation targeting framework. Scroll down for more on that.
THIS WEEK IN ASIA-PACIFIC
The candidates vying to be Japan's next leader
Hardest-hit Vietnam risks losing $25 billion from US tariffs, UN estimates
China cracks down on online content inciting hostility, pessimism
UK, Australia and Canada recognise Palestinian state, Israel condemns decision
Trump says 'bad things' will happen if Afghanistan does not return Bagram air base
A NEW 'MAGA' FRONT
Donald Trump has opened a new front in his fight for MAGA, or 'Make America Great Again', by driving up the fees on H-1B visas, used by foreign tech workers, most notably Indians. Train American workers instead, Trump said, making the announcement.
The decision put the tech industry squarely in the middle of the global trade and immigration tensions, leaving Indian firms rethinking their plans and policymakers calculating the wider hit from Trump's latest salvo.
The initial announcement - which suggested an annual fee of $100,000 on anyone with an H-1B visa entering the U.S. from September 21 compared with just a few thousand dollars previously - sparked panic, with companies asking workers who hold such visas and are overseas to rush back. Travellers cancelled plans and scrambled to find flights to the U.S.
India's foreign ministry said the move could disrupt families, adding that the U.S. and India have both benefited from mobility of skilled workers.
The final version, however, was watered down, imposing a one-time fee on new visas only. Nevertheless, global tech executives have pushed back, warning of rising costs for large companies and startups.
While Amazon AMZN.O uses the largest number of H-1B visas, leading Indian IT services firms are all among the top-10 sponsors of the visas. And Indians are the biggest beneficiaries of these temporary work permits.
Analysts expect the immediate financial impact on margins and profitability to be manageable but warn of rising uncertainties for the sector. Brokerage ICICI Securities pegged the average hit on earnings per share at about 6% while Jefferies estimated it at 4%-13% for different firms based on the nature of business and use of these visas. They did not specify the time period for the profit hit.
Read here to understand the impact on India's IT services model.
In response, the Nifty IT index .NIFTYIT fell 3% on Monday, wiping out nearly $10 billion in market value. The index of IT stocks has been the worst performer among sectoral indices in the Indian market so far this year, down 18% compared to a 6% gain for the benchmark Nifty 50 .NSEI.
RIPPLE EFFECTS WILL BECOME EVIDENT LATER
The wider implications of a clampdown on Indian tech workers in the U.S. will only play out over time.
With fewer such professionals welcome in the U.S., wage growth in the domestic industry could be hurt at a time when a squeeze on profitability and increased use of AI have already brought on job cuts.
The sector, which employs 5.67 million people, is a significant driver of demand in the Indian economy.
Citi analysts believe remittance flows from the U.S. could also be impacted over time but added that quantifying the impact is difficult.
Displaced workers could find a home in other countries such as Britain and South Korea, which are looking at easier visa policies to attract talent.
Some analysts believe the visa fee hike may eventually benefit India by increasing offshoring via global capability centres (GCC), used by foreign firms for a range of services from accounting to research, which have powered up the country's services exports in recent years.
The H-1B shock and increasing uncertainty "could accelerate GCC trajectory and lift GCC exports as a share of India’s total services exports over time," said Madhavi Arora, chief economist at Mumbai-headquartered Emkay Global Financial Services.
But this growth also could be short-circuited.
A bill known as the HIRE Act and introduced by U.S. Republican Senator Bernie Moreno has made the industry nervous. Any version of the bill, which proposes taxing companies that hire foreign workers over Americans, could limit the offshoring opportunity.
"If the repercussion of this (H-1B fee increase) is substantial offshoring, it might invite a reaction in terms of service tariffs or offshoring taxes," brokerage house Ambit Capital said in a note.
How will Trump's latest move impact India's tech sector and the broader economy? Write to me at [email protected].
MARKET MATTERS
India's central bank is likely to recommend maintaining the inflation target of 4% for another five years, Reuters reported.
The inflation targeting framework is up for review by March 2026.
The continuation of the target means predictability in the trajectory of interest rates but also leaves room for at least one more cut this year as headline inflation remains within the central bank's target while core inflation has been stickier.
The Reserve Bank of India had sought views on whether the target should be changed from headline inflation to core inflation and if the target band should be different from the current 2%-6%.
With most stakeholders backing the current framework, the central bank is likely to suggest its continuation to the government.
THIS WEEK'S MUST-READ
European Union nations are keeping a close watch on any wildlife export requests from India and, in particular, Vantara, a private zoo run by the philanthropic arm of a conglomerate controlled by Asia's richest family, the Ambanis.
Indian investigators cleared the sanctuary of any wrongdoing this week but its operations continue to draw global scrutiny.
Read here to know why the Spix's macaw, a vivid-blue parrot, found itself in the middle of controversy around Vantara.
India retail inflation over last 10 years https://reut.rs/41ZGtWk
H-1B visas issued by nationality https://reut.rs/4nAde4A
(Reporting by Ira Dugal; Editing by Muralikumar Anantharaman)
(([email protected]; +91-9833024892;))
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Popular questions
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What does LTM do?
LTM Ltd. is a global technology consulting and digital solutions company that enables enterprises across industries to reimagine business models, accelerate innovation, and maximize growth by harnessing digital technologies. As a digital transformation partner to various clients, LTIMindtree brings extensive domain and technology expertise to help drive superior competitive differentiation, customer experiences, and business outcomes in a converging world.
Who are the competitors of LTM?
LTM major competitors are Tech Mahindra, Oracle Finl. Service, Wipro, Persistent Systems, Coforge, Mphasis, L&T Technology Serv.. Market Cap of LTM is ₹1,38,819 Crs. While the median market cap of its peers are ₹92,307 Crs.
Is LTM financially stable compared to its competitors?
LTM seems to be less financially stable compared to its competitors. Altman Z score of LTM is 10.09 and is ranked 4 out of its 8 competitors.
Does LTM pay decent dividends?
The company seems to pay a good stable dividend. LTM latest dividend payout ratio is 44.24% and 3yr average dividend payout ratio is 42.69%
How has LTM allocated its funds?
Companies resources are allocated to majorly unproductive assets like Cash & Short Term Investments
How strong is LTM balance sheet?
Balance sheet of LTM is strong. It shouldn't have solvency or liquidity issues.
Is the profitablity of LTM improving?
Yes, profit is increasing. The profit of LTM is ₹5,197 Crs for TTM, ₹5,018 Crs for Mar 2026 and ₹4,599 Crs for Mar 2025.
Is the debt of LTM increasing or decreasing?
Yes, The net debt of LTM is increasing. Latest net debt of LTM is -₹5,460.9 Crs as of Mar-26. This is greater than Mar-25 when it was -₹7,147.1 Crs.
Is LTM stock expensive?
LTM is not expensive. Latest PE of LTM is 26.54, while 3 year average PE is 35.55. Also latest EV/EBITDA of LTM is 17.07 while 3yr average is 23.58.
Has the share price of LTM grown faster than its competition?
LTM has given better returns compared to its competitors. LTM has grown at ~22.48% over the last 9yrs while peers have grown at a median rate of 16.75%
Is the promoter bullish about LTM?
Promoters seem not to be bullish about the company and have been selling shares in the open market. Latest quarter promoter holding in LTM is 68.49% and last quarter promoter holding is 68.52%
Are mutual funds buying/selling LTM?
The mutual fund holding of LTM is decreasing. The current mutual fund holding in LTM is 4.12% while previous quarter holding is 4.33%.