Whalesbook
Results toh mast hain, par aage kya?
Is quarter mein LTTS ne numbers toh acche dikhaye hain. Net profit 6.7% upar jaa kar ₹332 crore bana aur revenue 8.3% badh kar ₹2,858 crore pahunch gaya. Poore saal ki baat karein toh profit ₹1,279.2 crore raha. Company ne apna Smart World and Communication (SWC) business bhi ₹452 crore mein sell kar diya hai, taaki margins improve ho sakein. Isse short term growth thoda slow ho sakta hai, but long term mein fayda expect hai.
Analyst log kya bol rahe hain?
Choice Institutional Equities toh LTTS par bullish hai. Unhone 'BUY' rating di hai aur target rakha hai ₹4,350, jahan se company FY27 tak mid-16% EBIT margins achieve kar sakti hai.
Par sabki rai aisi nahi hai. Market mein kaafi analysts abhi 'HOLD' ya 'NEUTRAL' rating de rahe hain. Iska sabse bada reason hai LTTS ka valuation. Iska P/E ratio around 28.2x se 29.9x chal raha hai, jo ki TCS (around 17.47x), Infosys (around 17.73x), aur Wipro (around 16.17x) jaise bade IT players se kaafi zyada hai. Kuch analysts toh yeh bhi keh rahe hain ki EPS growth bhi slow ho sakti hai. Value Picks Studies ne toh 'NEUTRAL' rating di hai aur target ₹3,250-₹3,450 ke beech rakha hai, unke according P/E high hai despite EPS mein girawat ki expectation.
Baki analysts ke targets bhi generally ₹3,792 se ₹4,212 ke beech hain, jo Choice ke target se kaafi kam hai. Matlab, abhi clear upside kam lag raha hai.
Sector ka scene aur future
Pure Indian IT sector mein bhi filhaal mixed signals hain. AI (Artificial Intelligence) sabke liye ek bada growth driver ban sakta hai FY27 mein. Lekin global economic slowdown aur geopolitical tensions ki wajah se companies abhi spending ko lekar cautious hain. US visa policies aur trade tensions bhi industry ke liye challenges hain.
Is sab ke beech, LTTS jaise companies jo Engineering Research & Development (ER&D) mein focus kar rahi hain, unke liye AI ek acha mauka hai. Par valuation pressure aur potential EPS drop ki wajah se investors thoda soch samajh kar chal rahe hain.
Overall, kaafi analysts abhi 'HOLD' position par hain. Main reason wahi hai – stock ka premium valuation aur slow EPS growth ki possibility. SWC business ko sell karne se revenue base kam hua hai, toh kya company sirf core engineering services se tezi se grow kar paayegi, yeh dekhna hoga. Company ka 5 saal mein 13-15% CAGR ka target bhi global economic conditions aur sector risks ke saamne test ho sakta hai.
Aage LTTS Engineering Intelligence aur AI par focus karegi. Investors nazar rakhenge ki kaise woh bade deals ko revenue aur margin mein badalti hai. Jab tak strong growth ke clear signs nahi mil jaate, tab tak situation 'HOLD' wali hi lag rahi hai.