Sharekhan's research report on LTIMindtree
Q4FY25 revenue stood at $1,131 million, down 0.6% q-o-q in CC terms, missing our estimates of a 0.2% q-o-q growth in CC terms. EBIT margin was flat sequentially at 13.8% but missed our estimate of 14.2%. Company reported robust order inflow at $1.6 billion, up 12% y-o-y. Management is confident of getting back to growth in Q1FY26 with visible margin improvements expected from the same quarter. We have cut EPS estimates for FY26/27E by ~11%/15% to factor gradual improvement in a challenging macro environment.
Outlook
We maintain Buy with revised price target (PT) of Rs 5,200 (valued at 26x FY27E EPS). At CMP, the stock trades at 26.4/22.7x its FY26/27E EPS.
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