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LTM

LTM NSE
₹4,204.90 No trade today
P/E
23.84
View as Markdown
MCP
Close 4 Nov 2026 ₹4,204.90 −1,447.10 −25.6% 1Y
Start ₹5,652.00

Key Fundamentals

LargecapIT - SoftwareInformation Technology

Price-based figures as of · EPS basis: Consolidated · TTM

ROCE
29.60%
Debt to Equity
0.10
EPS (TTM)
₹176.40
Book Value
₹872.23
Market Cap
—
P/E (TTM)
23.84
P/B
4.82
ROE
23.10%
Dividend Yield
0.59%
EBITDA
₹8,650 Cr
52W High
₹6,429.50
52W Low
₹3,528.00
Volume
0

Peer Comparison

Information Technology › Computer Software & Consulting › Computers - Software & Consulting

LTM peer comparison
TCS
₹2,436.0017.08₹8,98,480 Cr7.400.96%51.80%63.00%₹2,83,248 Cr₹51,858 Cr
Infosys
₹1,128.2014.88₹4,63,085 Cr4.862.26%31.90%40.00%₹1,89,336 Cr₹30,788 Cr
HCL Tech
₹1,405.0021.88₹3,89,601 Cr5.013.34%23.80%30.40%₹1,34,374 Cr₹17,434 Cr
Wipro
₹194.5515.21₹1,94,390 Cr2.441.01%15.50%17.80%₹94,968 Cr₹13,285 Cr
Tech Mahindra
₹1,783.0034.02₹1,76,066 Cr5.880.84%17.50%23.10%₹59,176 Cr₹5,163 Cr
LTM (this company)
₹4,204.9023.84₹1,26,067 Cr4.820.59%23.10%29.60%₹44,075 Cr₹5,197 Cr
Persistent Systems
₹6,065.0049.64₹96,188 Cr7.820.66%27.20%34.40%₹15,718 Cr₹1,922 Cr
Median 7 companies₹1,783.0021.88₹1,94,390 Cr5.010.96%23.80%30.40%₹94,968 Cr₹13,285 Cr

Comparable companies in the same industry. Market cap, P/E and P/B use the latest price; other metrics are as reported in filings. A dash means the figure is not published for that company.

Tapetide Score

Data-driven rating, 0–100, as of . How it works →

Overall score

56 Good

Data confidence 100/100

Category scores

Quality
66
Good
Returns, margins, earnings quality 22% weight
Valuation
47
Average
Cheap vs sector & own history 24% weight
Growth
50
Average
Sales & profit trajectory 9% weight
Financial Health
69
Strong
Solvency, leverage, coverage 9% weight
Momentum
57
Good
Trend strength, vol-adjusted 12% weight
Ownership
57
Good
FII/DII/promoter flows 24% weight

The Tapetide Score is data analysis, not investment advice. Tapetide is not a SEBI-registered research analyst or investment adviser.

Key Insights

Strengths

3
  • Company has a good return on equity (ROE) track record: 3 Years ROE 23.1%
  • Company has been maintaining a healthy dividend payout of 42.7%
  • Company's working capital requirements have reduced from 33.8 days to 26.4 days

No weaknesses listed

Technical Indicators

Technical signals: verdict and indicator counts
GroupSignalBearishNeutralBullish
OverallBearish775
OscillatorsNeutral171
Moving AveragesStrong Bearish604

Key readings

RSI (14)
51.56
Neutral
MACD (12,26,9)
−2.07
Bullish
SMA (50)
4,249.45
Bearish
SMA (200)
4,443.06
Bearish

As of

Analyst Rating

Based on 38 analysts
BUY45%

17 of 38 analysts rate Buy, 11 Hold, 10 Sell.

As of

BUY
17
45%
HOLD
11
29%
SELL
10
26%

Growth Rate

From the financial statements below. 10Y, 5Y, 3Y: compound annual growth to Mar 2026; 1Y: fiscal year to Mar 2026 against Mar 2025; TTM: four quarters to Jun 2026 against Jun 2025.

Revenue

Revenue growth by window
10Y+21.89%
5Y+27.88%
3Y+8.43%
1Y+11.31%
TTM+13.87%

Net profit

Net profit growth by window
10Y+19.54%
5Y+20.79%
3Y+4.16%
1Y+8.28%
TTM+10.04%

Operating cash flow

Operating cash flow growth by window
10Y+18.79%
5Y+14.87%
3Y+15.74%
1Y+5.57%
TTM—

TTM: Reported once a year, so there is no trailing-twelve-month figure.

Operating margin· change in pp

Operating margin growth by window
10Y+0.28 pp
5Y−4.17 pp
3Y−0.55 pp
1Y+0.77 pp
TTM+1.19 pp

Revenue by year

Revenue by year, ₹ crore
Mar 2017₹6,501 Cr
Mar 2018₹7,306 Cr
Mar 2019₹9,446 Cr
Mar 2020₹10,879 Cr
Mar 2021₹12,370 Cr
Mar 2022₹26,109 Cr
Mar 2023₹33,183 Cr
Mar 2024₹35,517 Cr
Mar 2025₹38,008 Cr
Mar 2026₹42,308 Cr

Net profit by year

Net profit by year, ₹ crore
Mar 2017₹971 Cr
Mar 2018₹1,112 Cr
Mar 2019₹1,516 Cr
Mar 2020₹1,520 Cr
Mar 2021₹1,938 Cr
Mar 2022₹3,950 Cr
Mar 2023₹4,410 Cr
Mar 2024₹4,585 Cr
Mar 2025₹4,602 Cr
Mar 2026₹4,983 Cr

Analyst Forecasts

Forecast For
Dec 26 consensus · EBITDA
₹2,178 Cr −0.3% vs Sep 26
Reported High Mean Low

AI Analysis — Bull vs Bear

Figures as of 30 Oct 2026
AI opinion · based on fundamentals
Risk medium

LTM Ltd trades at ₹4,233.5 as of 2026-10-30 with a market cap of ₹1,25,575 Cr, a trailing PE of 24x, and ROE of 20.67%. The stock sits 34% below its 52-week high of ₹6,429.5, while the company has delivered 10-year compounded sales growth of 22% and profit growth of 20% alongside a near-debt-free balance sheet at 0.1x debt-to-equity.

Bull Case 8
  • Strong long-term earnings compounder — 10-year compounded profit growth stands at 20% and 5-year profit CAGR at 23%, reflecting consistent execution over multiple cycles
  • Robust return on capital profile with ROCE at 25.78% and ROE at 20.67%, while the 3-year average ROE is 23.1%, indicating efficient capital allocation
  • Virtually debt-free balance sheet with debt-to-equity of just 0.1x, providing significant financial flexibility and resilience through downturns
  • Healthy dividend payout ratio of 42.7% alongside a dividend yield of 0.61%, demonstrating shareholder-friendly capital return policy
  • Improving working capital efficiency — working capital days reduced from 33.8 days to 26.4 days, freeing up cash for operations and investments
  • 10-year compounded sales growth of 22% and 5-year sales CAGR of 28% point to a sustained ability to grow the top line at a pace well above nominal GDP
  • TTM revenue growth of 14% and TTM profit growth of 19% show margin expansion in the most recent period, with profit growing faster than sales
  • Trading roughly 34% below its 52-week high of ₹6,429.5, with a PE of 24x — a compression from what the market was willing to pay at peak levels
Bear Case 6
  • Sharp deceleration in growth — 3-year compounded sales growth has slowed to 8% and profit growth to 7%, well below the 10-year averages of 22% and 20% respectively
  • Stock has delivered a negative 1-year return of -27% and a negative 3-year CAGR of -8%, signalling sustained underperformance and possible structural de-rating
  • Even on a 5-year basis the stock CAGR is -8%, meaning shareholders who bought five years ago are underwater despite strong underlying profit growth over the same period
  • PE of 24x on a TTM EPS of ₹176.4 may still be demanding if the recent 3-year profit growth trend of 7% persists, implying a PEG well above 3x on near-term growth
  • Dividend yield of 0.61% offers minimal income cushion relative to prevailing risk-free rates, despite the 42.7% payout ratio
  • ROE has declined from a 10-year average of 27% to 23% last year and 20.67% currently, indicating a downward trajectory in return efficiency

This is AI-generated analysis, not financial advice. Do your own due diligence.

AI News Digest

9h ago

TL;DR: LTM is executing a decisive AI pivot with AI revenue growing 47% YoY to 13.4% of the mix, while overall revenue grew 13.6% YoY in Q2FY27. However, the stock remains under pressure with a 31% YTD decline, profit missing estimates, and order inflows dropping 25% QoQ. The key tension is whether accelerating AI momentum can offset subdued traditional IT growth quickly enough to meet the challenging H2FY27 targets. The next quarter will be pivotal in demonstrating whether the AI-led deal pipeline converts into the 3.2% sequential growth needed to hit FY27 guidance.

Headwinds 5
  • Stock down 31% year-to-date Oct 23

    LTM shares have plunged 31.28% YTD and declined 25.23% over the past year, significantly underperforming the broader Nifty 50 index which fell 11.5%.

  • Q2 profit misses estimates Oct 16

    Net profit fell 4% QoQ to ₹1,397.9 crore in Q2FY27, missing analyst estimates of ₹1,517 crore despite revenue meeting expectations.

  • Order inflow drops 25% QoQ Oct 16

    Order inflow declined 25% QoQ to $1.26 billion in Q2FY27 from $1.68 billion in Q1, raising concerns about sustaining revenue growth in coming quarters.

Positives 6
  • AI revenue surges 47% YoY Oct 16

    Enterprise AI and Business AI revenue grew 47% YoY, now at ~$150 million per quarter and comprising 13.4% of total revenue, up from 12% in Q1.

  • Revenue up 13.6% YoY Oct 16

    Q2FY27 consolidated revenue rose 13.6% YoY to ₹11,807.6 crore with EBIT margin improving 10bps QoQ to 15.6%, demonstrating steady operational momentum.

  • Dividend raised 16% to ₹78 Oct 23

    Total FY26 dividends of ₹78 per share (₹25 interim + ₹53 final) represent a 16.4% increase over FY25's ₹67 per share, with record date set for October 23.

Neutral 3
  • Shorter AI deal cycles ahead Oct 19

    LTM expects shorter-cycle AI deals to enable faster revenue recognition in H2FY27, signaling a structural shift from longer-gestation traditional IT engagements.

  • Google Cloud Gemini partnership Oct 7

    LTM expanded its Google Cloud collaboration with a dedicated Gemini Enterprise Center of Excellence targeting BFSI, Manufacturing, and Retail sectors.

  • Headcount flat at ~87,900 Oct 16

    Total employees stood at 87,886 with attrition steady at 13.3% TTM and utilisation excluding trainees at 86.4%, indicating stable workforce dynamics.

Quarterly Results

₹ Cr
LTM quarterly results, ₹ crore
Particulars Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026Sep 2026
Sales
8,702
8,905
9,017
8,893
9,143
9,433
9,661
9,772
9,841
10,394
10,781
11,292
11,608
11,808
Expenses
7,067
7,274
7,432
7,357
7,536
7,734
8,068
8,176
8,191
8,464
8,778
9,319
9,547
9,714
Operating Profit
1,636
1,631
1,585
1,536
1,606
1,699
1,593
1,596
1,649
1,930
2,003
1,973
2,061
2,093
OPM %
19%
18%
18%
17%
18%
18%
16%
16%
17%
19%
19%
17%
18%
18%
Other Income
132
143
220
208
227
299
212
251
392
300
−363
237
255
92
Interest
46
47
61
68
72
70
69
67
72
69
69
65
76
70
Depreciation
185
208
199
227
235
241
264
251
243
282
266
264
261
255
PBT
1,536
1,519
1,545
1,448
1,526
1,687
1,472
1,529
1,726
1,879
1,305
1,881
1,978
1,860
Tax %
25%
24%
24%
24%
26%
26%
26%
26%
27%
26%
26%
26%
26%
26%
Net Profit
1,152
1,162
1,169
1,101
1,135
1,252
1,087
1,129
1,255
1,381
960
1,387
1,469
1,380
EPS (₹)
38.92
39.26
39.49
37.14
38.28
42.24
36.63
38.09
42.32
47.27
32.74
46.96
49.43
—

Sep 2026: from the results filed on 16 Oct 2026, ahead of the full statement, so some rows are blank.

Profit & Loss

₹ Cr
LTM profit and loss, annual, ₹ crore
Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales
4,978
5,846
6,501
7,306
9,446
10,879
12,370
26,109
33,183
35,517
38,008
42,308
44,075
Expenses
3,973
4,819
5,271
6,119
7,562
8,849
9,645
20,860
27,075
29,130
31,513
34,752
36,109
Operating Profit
1,005
1,028
1,230
1,187
1,883
2,029
2,725
5,249
6,108
6,387
6,495
7,555
7,966
OPM %
20%
18%
19%
16%
20%
19%
22%
20%
18%
18%
17%
18%
18%
Other Income
99
187
187
426
302
329
274
766
557
702
990
566
430
Interest
10
6
3
16
11
83
79
123
150
222
279
276
280
Depreciation
158
174
178
156
147
273
332
597
723
819
992
1,054
1,072
PBT
936
1,035
1,236
1,442
2,028
2,003
2,588
5,294
5,792
6,049
6,214
6,791
7,043
Tax %
18%
19%
21%
23%
25%
24%
25%
25%
24%
24%
26%
27%
—
Net Profit
769
836
971
1,112
1,516
1,520
1,938
3,950
4,410
4,585
4,602
4,983
5,197
EPS (₹)
238
49.25
56.91
64.65
87.37
87.3
111
225
149
155
155
169
176
Div. Payout %
63%
72%
29%
33%
32%
32%
36%
41%
40%
42%
42%
44%
—

Balance Sheet

₹ Cr
LTM balance sheet, annual, ₹ crore
Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital
16
17
17
17
17
17
18
30
30
30
30
30
Reserves
2,010
2,108
3,127
3,843
4,876
5,387
7,286
14,258
16,562
19,988
22,669
23,995
Borrowings
218
55
0
0
0
912
798
258
354
2,071
2,187
2,310
Other Liabilities
734
958
1,273
1,477
1,770
2,499
2,604
6,027
6,535
5,456
5,712
10,814
Total Liabilities
2,978
3,137
4,417
5,337
6,664
8,815
10,706
20,572
23,481
27,544
30,598
37,148
Fixed Assets
683
638
542
681
930
1,920
1,906
3,473
3,679
4,981
5,285
5,626
CWIP
25
20
1
7
12
59
66
503
902
551
681
922
Investments
104
43
941
1,264
1,740
2,219
3,730
6,048
5,458
8,744
9,845
12,568
Other Assets
2,166
2,437
2,934
3,385
3,982
4,617
5,004
10,548
13,442
13,269
14,787
18,033
Total Assets
2,978
3,137
4,417
5,337
6,664
8,815
10,706
20,572
23,481
27,544
30,598
37,148

Cash Flow

₹ Cr
LTM cash flow, annual, ₹ crore
Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating
642
858
1,170
844
1,395
1,644
2,400
3,251
3,095
5,670
4,546
4,799
Investing
−103
−40
−961
−452
−749
−643
−1,657
−1,643
−271
−3,918
−1,729
−1,604
Financing
−497
−817
−33
−408
−594
−890
−509
−1,680
−1,932
−2,269
−2,574
−2,926
Net Cash Flow
42
2
176
−16
52
110
234
−73
892
−518
242
269
Free Cash Flow
448
744
1,101
746
1,242
1,401
2,133
2,198
2,160
4,836
3,612
3,890
CFO/OP
91
109
115
101
99
101
112
88
76
113
95
88

Ratios

LTM financial ratios, annual
Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days
80
73
66
70
71
78
61
64
62
59
56
64
Cash Conversion Cycle
80
73
66
70
71
78
61
64
62
59
56
64
Working Capital Days
58
49
43
60
53
42
33
37
44
36
39
26
ROCE %
48%
47%
46%
42%
47%
37%
37%
48%
38%
32%
28%
30%

Insights

Beta

AI-extracted from concalls & annual reports · figures as reported, with sources

Log in to view LTM insights

69 extracted metrics across FY03–FY27.

Shareholding Pattern

As of Sep 2026

  • Promoters 69.01%
  • DIIs 16.84%
  • FIIs 6.15%
  • Public 5.39%
  • Others 2.61%

No promoter shares pledged as of 14 Oct 2026

Change vs previous quarter

Not shown for some quarters: Others. Not available separately for this quarter: the shareholding filing gives Public and Others as one figure, shown under Public, so Others is left blank rather than estimated.

Documents

Frequently Asked Questions about LTM

What does LTM Ltd do?
Larsen & Toubro Infotech Ltd offers extensive range of IT services like application development, maintenance and outsourcing, enterprise solutions, infrastructure management services, testing, digital solutions, and platform-based solutions to the clients in diverse industries.
Where is LTM Ltd (LTM) listed?
LTM Ltd trades as LTM on the NSE and under code 540005 on the BSE.
Which sector does LTM Ltd belong to?
LTM Ltd is classified under the Information Technology sector, in the Computer Software & Consulting industry.
What is the PE ratio of LTM Ltd?
LTM Ltd trades at a PE ratio of 23.84 as of 4 Nov 2026, on earnings per share of ₹176.4, against a book value of ₹872.23 per share.
What is the 52-week high and low of LTM Ltd?
Over the last 52 weeks LTM Ltd has traded between ₹3,528 and ₹6,429.5 as of 4 Nov 2026.
Does LTM Ltd pay dividends?
LTM Ltd has a dividend yield of 0.59%.
What is the Return on Equity (ROE) of LTM Ltd?
LTM Ltd reported a return on equity of 23.10%. Its debt-to-equity ratio is 0.10.

Company Information

Larsen & Toubro Infotech Ltd offers extensive range of IT services like application development, maintenance and outsourcing, enterprise solutions, infrastructure management services, testing, digital solutions, and platform-based solutions to the clients in diverse industries.

Website ltm.com
CEO Mr. Venugopal Lambu
Employees 87,958
Listed 21 Jul 2016
Face Value ₹1

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