LTM

LTM share price & financials

Price
₹3,832.5
Market cap
₹1.3L Cr
Sector
Information Technology
Calls analysed
3
Latest concall · Q1 FY27 · call held 11 Jul 2026

LTM Limited Q1 FY27

Revenue 1,220 million +6%PAT ₹1,469 cr +17%PAT Margin 12.7% ROCE 29.8%

What went well

  • Revenue of USD 1.22 billion, up 0.3% QoQ and 6.4% YoY in constant currency terms, demonstrating a strong start to the AI era.
  • EBIT margin expanded 40 basis points sequentially to 15.5%, and 120 basis points year-over-year, reflecting strong execution and operational efficiencies from the New Horizons program.
  • Profit after tax increased 9.5% quarter-on-quarter to Rs. 1,469 Crores and 17.1% year-on-year, with PAT margin at 12.7%.

What to watch

  • Production segment reported a decline of 5.7% QoQ (CC) due to seasonal pass-through.
  • Consumer segment declined 0.7% QoQ (CC) due to delayed ramp-ups and projects in India and the Middle East.
Read the full call →

What LTM Limited does

LTM is an information-technology services and digital-transformation company that delivers consulting, application development, and technology outsourcing to enterprise clients worldwide. It earns from multi-year service engagements billed across five industry verticals and three broad geographies, and is repositioning its delivery around an AI-centric model. Its work is organised under a five-year 'Lakshya' strategy spanning cost optimisation, large-deal building, and an AI pivot.

Segments

  • BFSI
  • Technology, Media and Communication
  • Manufacturing and Resources
  • Consumer
  • Production
Industry verticals served
Five (incl. BFSI; Technology, Media & Communication; Manufacturing & Resources; Consumer)
Business segment structure from Q1 FY27
Four segments: BFSI; Technology, Media & Communication; Production; Consumer
Geographic markets
Americas, Europe and Rest of the World
Developers trained on GitHub Copilot
30,000+
Engineers trained on Claude skills
1,000+
Strategic AI partners
Salesforce (BlueVerse M.A.X), Uniphore

Guidance record · Q1 FY27

what the last two calls moved 11 tracked 3 delivered 0 missed 8 open
  • Top 5 Client Performance delivered said Q3 FY26 Promised: next quarter, I expect the, one out of that five account will eventually bottom out. Q1 FY27: Confirmed by results: Top 5 customers grew 4.5% sequentially in Q1 FY27, and BFSI segment grew 3.2% QoQ.
  • SG&A as % of Revenue revised up said Q3 FY26 Promised: keep it in the region of around 11 to 11.5 or 11.6% kind of a range. Q1 FY27: Management now expects SG&A to remain stable at the current lower level and not go up to the previously guided 11-11.5% range, due to AI-driven internal efficiencies. This is a positive revision for a negative metric.
  • Revenue Doubling on track said Q4 FY26 Promised: doubling down the revenue in five years. Q1 FY27: Reiterated confidence in growth acceleration for FY27, which is the first step of this long-term plan.

All 11 tracked — every revision, and every one management stopped mentioning.

Open the guidance ledger

Quarterly results

Q1 FY27: revenue up 16.6%, net profit down 4.3% against the same quarter last year.

₹ Cr · quarterly
Line itemQ2 FY25Q3 FY25Q4 FY25Q1 FY26Q2 FY26Q3 FY26Q4 FY26Q1 FY27
Revenue9,105 9,286 9,423 9,421 9,967 +9%10,312 +11%10,782 +14%10,988 +17%
EBITDA1,620 1,492 1,519 1,570 1,881 +16%1,920 +29%1,856 +22%1,943 +24%
Net profit1,220 1,042 1,079 1,297 1,386 +14%929 −11%1,322 +23%1,241 −4%
How to read this

₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.

Performance −19.4% 1Y

₹4.0k₹5.0k₹6.0kSept 25Oct 25Dec 25Jan 26Mar 26Apr 26Jun 26Jul 26Sept 26Q3 FY26 — 19 Jan 2026Q4 FY26 — 23 Apr 2026Q1 FY27 — 10 Jul 2026

1Y: ₹5,307 on 10 Sept 2025 → ₹4,275. High ₹6,407 (19 Jan 2026), low ₹3,538 (30 Jun 2026).

How the price took the results

close before → close after

Q1 FY27
+2.2%
11 Jul
Q4 FY26
−1.6%
23 Apr
Q3 FY26
+1.6%
19 Jan

The move from the last close before each results date to the first close after it — the market's first read on the quarter, not the quarter itself.

Financials, as filed

Revenue grew 8.7% a year over 2 years, FY24 to FY26. Operating margin held at 17.9%.

Year endingFY24FY25FY26
Revenue₹34.3k Cr₹36.7k Cr₹40.5k Cr
Operating profit₹6.1k Cr₹6.2k Cr₹7.2k Cr
Operating margin17.9%16.8%17.9%
Interest₹206 Cr₹271 Cr₹265 Cr
Depreciation₹761 Cr₹904 Cr₹973 Cr
Net profit₹4.5k Cr₹4.4k Cr₹4.9k Cr
Net margin13.1%12.1%12.2%
ROCE33.0%28.0%30.0%
How to read this

From the company's own filings. Margins are computed from the filed sums; a year with an incomplete quarter is left blank rather than estimated.

Balance sheet

Year endingFY21FY22FY23FY24FY25FY26
Equity capital₹18 Cr₹30 Cr₹30 Cr₹30 Cr₹30 Cr₹30 Cr
Reserves₹6.9k Cr₹13.8k Cr₹15.9k Cr₹19.3k Cr₹23.4k Cr₹22.8k Cr
Borrowings₹0 Cr₹0 Cr₹0 Cr₹1.9k Cr₹2.4k Cr₹2.1k Cr
Other liabilities₹3.0k Cr₹5.9k Cr₹6.5k Cr₹5.2k Cr₹6.7k Cr₹10.2k Cr
Total liabilities₹10.0k Cr₹19.8k Cr₹22.4k Cr₹26.5k Cr₹32.5k Cr₹35.2k Cr
Fixed assets₹1.0k Cr₹2.5k Cr₹2.9k Cr₹4.2k Cr₹5.7k Cr₹4.5k Cr
Capital work in progress₹43 Cr₹472 Cr₹856 Cr₹477 Cr₹619 Cr₹894 Cr
Investments₹4.4k Cr₹6.7k Cr₹5.9k Cr₹9.2k Cr₹11.1k Cr₹13.2k Cr
Other assets₹4.5k Cr₹10.1k Cr₹12.7k Cr₹12.6k Cr₹15.1k Cr₹16.6k Cr
Total assets₹10.0k Cr₹19.8k Cr₹22.4k Cr₹26.5k Cr₹32.5k Cr₹35.2k Cr
How to read this

As filed each year. A line the company does not report — deposits for a non-lender, for instance — is left out rather than shown as a row of dashes.

Who owns it

As disclosed at Jun 2026

Since Jun 2025, DIIs added +0.63 pp while FIIs trimmed −0.31 pp. The shareholder count shrank 5% to 3,97,187.

Promoters
68.5%
FIIs
6.3%
DIIs
16.7%
Government
0.1%
Public
8.3%
Others
0.0%

Since Jun 2025

  • DIIs +0.63 pp
  • FIIs −0.31 pp
  • Public −0.30 pp

How it drifted, 12 quarters

Over this window DIIs went from 12.9% to 16.7% — +3.9 pp.

Sep '23Dec '24Jun '26

Ownership split by quarter, oldest first. Sep '23: Promoters 68.7%, FIIs 8.1%, DIIs 12.9%, Government 0.1%, Public 10.3%.Dec '23: Promoters 68.6%, FIIs 8.7%, DIIs 12.8%, Government 0.1%, Public 9.8%.Mar '24: Promoters 68.6%, FIIs 7.9%, DIIs 13.5%, Government 0.1%, Public 9.9%.Jun '24: Promoters 68.6%, FIIs 7.3%, DIIs 14.1%, Government 0.1%, Public 9.9%, Others 0.0%.Sep '24: Promoters 68.6%, FIIs 7.4%, DIIs 14.8%, Government 0.1%, Public 9.1%, Others 0.0%.Dec '24: Promoters 68.6%, FIIs 7.5%, DIIs 14.9%, Government 0.1%, Public 9.0%, Others 0.0%.Mar '25: Promoters 68.6%, FIIs 7.0%, DIIs 15.5%, Government 0.1%, Public 8.8%.Jun '25: Promoters 68.6%, FIIs 6.6%, DIIs 16.1%, Government 0.1%, Public 8.6%, Others 0.0%.Sep '25: Promoters 68.5%, FIIs 6.4%, DIIs 16.6%, Government 0.1%, Public 8.3%, Others 0.0%.Dec '25: Promoters 68.5%, FIIs 6.5%, DIIs 16.8%, Government 0.1%, Public 8.0%, Others 0.0%.Mar '26: Promoters 68.5%, FIIs 6.6%, DIIs 16.9%, Government 0.1%, Public 7.8%, Others 0.0%.Jun '26: Promoters 68.5%, FIIs 6.3%, DIIs 16.7%, Government 0.1%, Public 8.3%, Others 0.0%.

Who was buying across the market this quarter →

Who bought this quarter

since Mar 2026

Disclosed holders that added to a position or appeared on the register for the first time, biggest addition first.

The same filing shows 0 holders trimming and 0 off the list — both are in the register beside this.

Who is on the register

Named in the Jun 2026 filing

Every holder of LTM Limited above SEBI's 1% disclosure line, and what changed since Mar 2026.

HolderStakeChange
Larsen & Toubro Limited 68.49%unchanged
Life Insurance Corporation Of India Insurer9.80%unchanged
NPS Trust A/C UTI Pension Fund Limited-Scheme State Govt Pension / PF1.19%+0.11 pp
Intelliswift Software (Costa Rica) Limitada 0.00%unchanged
Intelliswift Software (Canada) Inc 0.00%unchanged
Global Infotech Corporation 0.00%unchanged
P. Murphy & Associates Inc 0.00%unchanged
Raykal Aluminium Company Private Limited 0.00%unchanged
L&T Mbda Missile Systems Limited 0.00%unchanged
Lth Milcom Private Limited 0.00%unchanged
Gh4 India Private Limited 0.00%unchanged
Hydrocarbon Arabia Limited Company 0.00%unchanged

A holder disappearing from this list has fallen below the 1% line — it is not necessarily a sale. Percentages are of total shares, as disclosed in the company's own filing. Who was buying across the market this quarter.

Mutual funds in LTM

Filings to Aug 2026

1 new, 9 added, 9 trimmed, 3 sold out — net −3.54 L shares (−7.4%).

Held by funds
₹2.0k Cr
31 schemes
Biggest holder
SBI Large and Midcap Fund
₹799 Cr · 1.9% of that fund
SchemeHoldingLast month
SBI Large and Midcap Fund SBI Mutual Fund₹799 Crheld
SBI Technology Opportunities Fund SBI Mutual Fund₹187 Cr−0.89 L
Nippon India ETF Nifty IT Nippon India Mutual Fund₹163 Cr−0.10 L
Nippon India ETF Nifty Next 50 Junior BeES Nippon India Mutual Fund₹149 Cr+0.11 L
Nippon India Value Fund Nippon India Mutual Fund₹124 Crheld
SBI ESG Exclusionary Strategy Fund SBI Mutual Fund₹123 Crheld
HDFC Multi Cap Fund HDFC Mutual Fund₹65 Crheld
SBI Multi Asset Allocation Fund SBI Mutual Fund₹61 Crheld

HDFC, Nippon India and SBI schemes, from their monthly disclosures. Changes are counted in shares, so a price move never looks like buying or selling.

Mutual funds Aug 2026

9 added, 9 trimmed — net −3.54 L shares (−7.4%)

Funds are sitting on
-8%
vs est. average cost
Held by funds
₹2.0k Cr
31 schemes · ≈ 1.3% of the company
Biggest holder
SBI Large and Midcap Fund
₹799 Cr · 1.9% of that fund

Shares held by these funds +155%

Mar '25 48.30 L shares Jul '26

What the price assumes

Growth the price implies
17.4% a year
for 7 years, fading to 4%
It has actually compounded at
Not enough history
The gap
—
between what it did and what it must do
Price today ₹4,275

Change the assumptions yourself →

All earnings calls (3)

Read the Q1 FY27 call →

Learn to analyse LTM Limited

Guides on how to read this kind of business and the numbers that matter.