LTM Limited (LTM)

Information Technology · IT - Software · NSE · Updated 2 August 2026

By StockFin Research Team • AI-Assisted Analysis • Source: BSE/NSE Filings

₹4,362.1

🎯 Key Takeaways

LTM Limited is transitioning from a mature IT services player to a growth-oriented AI-enabled digital transformation provider, with recent financial performance reflecting successful execution of its New Horizons program and strategic shift toward high-margin segments like Industrial and Creative AI. Management is prioritizing operational efficiency and ecosystem partnerships to drive sustainable margin expansion and outperform growth in FY2027.
Revenue grew 2.4% QoQ to ₹9,661 in Q3FY25.
⚠️ 1) Over-reliance on AI-driven segments, which remain nascent and unproven at scale, could expose the company to execution risks if adoption lags. 2) M

Market Cap

₹1.18 L Cr

P/E Ratio

25.7

Div Yield

0.00%

Promoter

0.0%

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📖 The Story

LTM Limited is transitioning from a mature IT services player to a growth-oriented AI-enabled digital transformation provider, with recent financial performance reflecting successful execution of its New Horizons program and strategic shift toward high-margin segments like Industrial and Creative AI. Management is prioritizing operational efficiency and ecosystem partnerships to drive sustainable margin expansion and outperform growth in FY2027.

📰 What's Happening

In Q1 FY2027, LTM reported USD 1.22 billion revenue (6.4% YoY growth in constant currency), with EBIT margin expanding 120 bps YoY to 15.5% and PAT rising 17.1% YoY to Rs.1,469 crores. The company highlighted a stable USD 1.7 billion order book, strong deal wins in AI-driven segments, and strategic partnerships with hyperscalers and AI labs to accelerate ecosystem adoption. Management emphasized operational efficiencies from the New Horizons program as a key driver of margin improvement and signaled expectations for FY2027 growth to exceed FY2026 levels.

Source: Stock Announcements

📊 Quarterly Results (₹ Cr)

Metric	Q4FY23	Q1FY24	Q2FY24	Q3FY24	Q4FY24	Q1FY25	Q2FY25	Q3FY25
Revenue	8,691	8,702	8,905	9,017	8,893	9,143	9,433	9,661
Operating Profit	1,670	1,767	1,775	1,804	1,743	1,833	1,998	1,806
OPM %	18.4%	18.8%	18.3%	17.6%	17.3%	17.6%	18.0%	16.5%
Net Profit	1,114	1,152	1,162	1,169	1,101	1,135	1,252	1,087
EPS	₹37.65	₹38.92	₹39.27	₹39.50	₹37.16	₹38.30	₹42.25	₹36.65

Quarterly revenue has shown consistent growth from Rs.8,691 crore in Q4FY23 to Rs.9,661 crore in Q3FY25, with operating margins stabilizing around 16-18% despite sequential softness. Profit growth has outpaced revenue expansion, as evidenced by PAT increasing from Rs.1,114 crore in Q4FY23 to Rs.1,469 crore in Q1FY27, reflecting improved cost control and margin management. This trend aligns with management's focus on operational efficiencies and higher-value AI engagements, supporting sustained profitability even amid modest top-line growth.

🔮 Management Outlook & What's Next

Management expects FY2027 growth to exceed FY2026 levels, with margin expansion to continue, driven by operational efficiencies and the New Horizons program. They have maintained utilization targets at 86-87% and anticipate India deal ramp-up in Q2, supported by strategic partnerships with hyperscalers and AI labs to accelerate adoption in Business, Industrial, and Creative AI segments.

Extracted from official company announcements. Not StockFin.ai's opinion.

⚖️ Peer Comparison — IT - Software

Company	MCap (₹ Cr)	P/E	ROCE	ROE	D/E
Tata Consultancy Services Limited	8.19 L Cr	17.2	67.6%	50.4%	0.00
Infosys Limited	4.54 L Cr	16.6	40.8%	29.2%	0.00
HCL Technologies Limited	3.07 L Cr	18.6	31.9%	23.6%	0.03
Wipro Limited	1.99 L Cr	15.0	19.1%	16.1%	0.20
Tech Mahindra Limited	1.34 L Cr	26.3	22.1%	10.0%	0.07
LTM Limited	1.18 L Cr	25.7	—	—	—
Oracle Financial Services Software Limited	78,487	34.0	—	—	—
Persistent Systems Limited	74,176	54.5	—	—	—
Coforge Limited	43,059	50.2	—	—	—
MphasiS Limited	39,760	23.9	—	—	—

🔗 Peer Stock Analyses

TCS INFY HCLTECH WIPRO TECHM

⚠️ Risk Factors

1) Over-reliance on AI-driven segments, which remain nascent and unproven at scale, could expose the company to execution risks if adoption lags. 2) Margin expansion is contingent on sustaining operational efficiencies from the New Horizons program, which may face pressure from rising talent costs or project delays. 3) The stable USD 1.7 billion order book may mask underlying softness in key markets, particularly as management noted macro headwinds despite strong deal wins.

📋 Recent Filings

🧠 Analyst's Read

LTM is executing a clear pivot toward AI-enabled growth with improving margins and stable order books, but investors should monitor the pace of AI segment contribution and the sustainability of margin gains amid competitive pricing pressures. The next catalyst will be the India deal ramp-up and the commercialization of Creative AI offerings in Q2.

Based on filing content and financial data. Not a recommendation.

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Data sourced from stock announcements. Analysis generated by StockFin.ai.
For informational purposes only — not investment advice. Updated 2026-08-02.

Editorial & Data Transparency Notice

This analysis was programmatically compiled using StockFin AI utilizing official regulatory disclosures from the BSE and NSE. Content is automatically synthesized and audited against public financial filings. StockFin.ai is an educational research platform and is NOT a SEBI-registered investment advisor or research analyst.

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