🔍 At a Glance
LTIMindtree Ltd — the lovechild of L&T Infotech and Mindtree — tried to become the Infosys-beater with a massive ₹38,000 Cr topline in FY25. But while revenues more thantripled in 5 years,profit growth lagged, margins slipped, and investor patience wore thin. The 5-yearstock CAGR? Just 24%— which sounds great until you remember… it’stech in a bull market.
🏢 About the Company
LTIMindtree is:
- A merged IT consulting & digital transformation company
- Strong in BFSI, manufacturing, CPG, travel, and retail
- Serving global clients with application services, cloud, analytics, infra, testing, and AI/ML
- Owned byL&T, India’s engineering behemoth
It aimed to become a$5B digital powerhouse, but post-merger integration wasn’t always smooth. Still, it remains among the top 5 Indian IT firms by market
cap.
👨💼 Key Managerial Personnel (KMP)
| Name | Designation |
|---|---|
| Venugopal Lambu | CEO & MD (from May 31, 2025) |
| Debashis Chatterjee | Outgoing CEO (retired May 2025) |
| S. N. Subrahmanyan | Chairman (Also L&T CEO) |
| Vinit Teredesai | CFO |
📢CEO change alert!Venugopal Lambu just took charge, and markets will be watching FY26 guidance like a hawk.
📊 Financials: FY21 to FY25 Recap
| ₹ in Crores | FY21 | FY22 | FY23 | FY24 | FY25 | Growth (FY21–25) |
|---|---|---|---|---|---|---|
| Revenue | 12,370 | 26,109 | 33,183 | 35,517 | 38,008 | 3.07x |
| Operating Profit | 2,725 | 5,249 | 6,108 | 6,387 | 6,495 | 2.38x |
| Net Profit | 1,938 | 3,950 | 4,410 | 4,585 | 4,602 | 2.37x |
| EPS (₹) | 110.8 | 225.3 | 149.0 | 154.7 | 155.2 | ~40% jump |
| OPM % | 22% | 20% | 18% | 18% | 17% | 👎 Falling |
| ROCE % | 37% | 48% | 36% | 31% | 28% | 👎 Deterioration |
📉 Margins havecontractedpost-merger, and earningsplateauedin FY25 despite higher revenue.
📈 Forward-Looking Fair Value (FV) Estimate
- FY25 EPS: ₹155.2
- Historical P/E range: 28x–38x
- Fair Value Range (28–35x): ₹4,345 – ₹5,430
With CMP at ₹5,385, LTIM
