India's LTM slides after Q4, leads IT losses on margin, growth concerns

LTM

24/04/2026 06:08

Updates

** Shares of India's LTM LTIM.NS extend losses, last down 4.8% at 4,306.3 rupees; stock biggest loser on Nifty IT index .NIFTYIT

** Software services provider posts Q4 revenue of 112.92 billion rupees ($1.20 billion) vs analyst expectations of 112 billion rupees - LSEG data

** Revenue from banking and financial services unit- its largest - fell 5.3% y/y

** 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 22.20% decline in NIFTY IT .NIFTYIT

($1 = 94.1600 Indian rupees)

 (Reporting by Devika Nair in Bengaluru)

 ((Devika.MadhusudhananNair@thomsonreuters.com;))