Macquarie maintains its underperform rating on L&T Technology Services (LTTS) with a target price of ₹4,310. The firm highlights that LTTS reported a QoQ revenue growth of 1.7% in USD terms, which is 1% below estimates, and 3.1% in constant currency (CC) terms. EBIT margin stood at 15.9%, up 80bps QoQ but down 130bps YoY, and fell 21bps short of expectations.
LTTS’s FY25 revenue growth guidance of 10% includes a 2% contribution from the integration of Intelliswift, acquired in November 2024. The stock’s current market price (CMP) is ₹4,870.
Disclaimer: This report is for informational purposes only and should not be considered as financial advice. Please consult your financial advisor before making any investment decisions
