Anand Rathi has buy call on LTIMindtree with a target price of Rs 5520. The current market price of LTIMindtree is Rs 4527.
LTIMindtree, incorporated in the year 1996, is a Large Cap company (having a market cap of Rs 134129.80 Crore) operating in IT Software sector.
LTIMindtree key Products/Revenue Segments include Software Development Charges & Other Services for the year ending 31-Mar-2022.
Financials
For the quarter ended 31-12-2022, the company has reported a Consolidated Total Income of Rs 8771.80 Crore, up 76.28 % from last quarter Total Income of Rs 4976.00 Crore and up 107.00 % from last year same quarter Total Income of Rs 4237.50 Crore. Company has reported net profit after tax of Rs 1000.70 Crore in latest quarter.
The company’s top management includes Mr.A M Naik, Mr.Sanjeev Aga, Mr.Rajnish Kumar, Mrs.Aruna Sundararajan, Mr.R Shankar Raman, Mr.Nachiket Deshpande, Mr.Sudhir Chaturvedi, Mr.James Abraham, Mr.S N Subrahmanyan, Mr.Vinayak Chatterjee. Company has B K Khare & Co. as its auditors. As on 31-12-2022, the company has a total of 30 Crore shares outstanding.
Investment Rationale
The brokerage expects the company to deliver a 13% revenue CAGR over FY23-25 and increase EBIT margins to ~18% by FY25, from 16.3% in FY23, leading to a 20% EBIT CAGR. This would result in an EPS of Rs.213 for FY25. The stock trades at FY25e PE of 20x which Anand Rathi finds attractive.
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