Whalesbook
Strategy ka Kamaal: Revenue Ghatao, Profit Badhao!
To bhaiyo, LTTS ne is baar Q4FY26 mein ekdum hatke strategy dikhayi hai. Company ne intentionaly apna revenue kam kiya, yeh 1.7% gir gaya ($306 million). Iska reason tha low-margin contracts aur Smart World Cities (SWC) business ko hatana, lagbhag $19 million ka annual business side kiya. Is move se EBIT margins 40 basis points badhkar 15.2% ho gaye, jo lagataar doosri baar improvement hai. Management kaafi confident hai aur keh rahe hain ki FY27 tak margins mid-16% tak pahunch jayenge, AI aur rupee ki help se.
Full Year Ka Scene Aur Long Term Plan
Poore FY26 ki baat karein toh revenue 8.3% badhkar $1.23 billion ho gaya. Bade deals bhi mast pakde hain, Total Contract Value (TCV) mein 40% ka jump aaya, jo $855 million ho gaya. Working capital bhi manage kiya hai, DSO 83 days par aa gaya. Unka 'Lakshya 2031' plan bhi hai jisme 5 saal mein 13-15% CAGR aur 16-17% EBIT margins ka target hai.
Dusre IT Stocks Se Alag?
LTTS ki strategy thodi alag hai. Jabki TCS, Infosys jaise bade players growth par focus kar rahe hain, LTTS margins par zyada dhyaan de raha hai. TCS ka revenue 9.6% badha tha, Infosys 13.4%, Wipro 3.6% aur HCLTech 12.35%. LTTS ka selective approach 'revenue quality' ke liye hai. Lekin valuation thoda mehnga lag raha hai, P/E ratio 29.4x ke aas-paas hai aur market cap ₹37,000-₹38,000 crore hai. EPS bhi FY26 mein ₹119 se ₹113.79 ho sakta hai projections ke according.
Investors Kyu Chintit Hain?
Stock market ne results par thodi narazgi dikhayi hai, share price gir gaya. Main risk yahi hai ki revenue kam karne ke baad growth kaise maintain hogi. Analyst bhi thoda conservative hain, FY27 mein mid-single-digit growth predict kar rahe hain, jo company ke 13-15% target se kam hai. Ye EPS mein projected drop aur slow revenue growth ke karan valuation par sawal uth rahe hain. Analysts ka consensus 'Hold' rating hai, aur price targets mein kaafi difference hai, ₹2,970 se ₹4,774 tak. Stock bhi saal ke hisaab se aur pichle saal se kaafi underperform kar raha hai.