Buy LTIMindtree; target of Rs 6000: Motilal Oswal

Motilal Oswal is bullish on LTIMindtree has recommended buy rating on the stock with a target price of Rs 6000 in its research report dated July 17, 2025.

Broker Research

July 21, 2025 / 15:09 IST

BUY

26 Aug, 2025 12:21

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Motilal Oswal's research report on LTIMindtree

LTIMindtree (LTIM) reported revenue of USD1.1b in 1QFY26, up 0.8% QoQ CC, below our estimate of 1.5% QoQ CC growth (in line with consensus). EBIT margin at 14.3% was in line with our estimate of 14.4%. PAT stood at INR12.5b, up 11.2% QoQ/10.5% YoY and in line with our estimate of INR12b. In INR terms, revenue/EBIT/PAT grew 7.6%/2.6%/10.5% YoY. In 2QFY26, we expect revenue/EBIT/PAT to grow 8.8%/4.2%/2.1% YoY. We value LTIM at 30x FY27E EPS with a TP of INR6,000, implying a 16% upside potential.

Outlook

We maintain our BUY rating on LTIM, supported by its capabilities in data engineering and ERP modernization. The company’s decent start to FY26, including the largest-ever TCV win and broad-based vertical performance, gives us confidence about our 5.6% CC revenue growth estimate. Our estimates remain unchanged for FY26/FY27. We value LTIM at 30x FY27E EPS with a TP of INR6,000, implying a 16% upside

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