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LTTS reported revenue of US$309.9 mn

ICICIdirect Research 15 Jul 2026 DISCLAIMER

News: LTTS reported revenue of US$309.9 mn (₹2,940.1 crore) from continuing operations, up 1.3% QoQ/0.4% YoY(up 1.5% QoQ/1.9% YoY in CC terms) in Q1FY27. Segment-wise, Sustainability (37.1% mix) grew 4.3% QoQ/11.3% YoY, while Mobility (32.3% mix) grew 2.3% QoQ/0.8% YoY and Tech (30.6% mix) declined 3.1% QoQ/10.6% YoY. Geography-wise, North America (60.4% mix) and Rest of World (8.4% mix) grew 3.3% and 1.1% YoY, while Europe (18.0% mix) and India (13.2% mix) declined 3.0% and 7.5%, respectively. EBIT margin stood at 15.7%, up ~50 bps QoQ/~200 bps YoY, while net income from continuing operations stood at ₹351.8 crore, up 1.5% QoQ/17.4% YoY. The company reported one US$30 mn+, one US$20 mn+ and four US$10 mn+ deal wins during the quarter. Headcount remained broadly stable at 23,845 (up 15 QoQ) with attrition unchanged at 14.7%. 

View: The quarter driven by Sustainability and a recovery in Mobility, ramp-up of earlier deal wins and improving traction in engineering intelligence-led engagements. Sustainability continues to benefit from demand across energy, industrial products, data centres and plant modernization, while Mobility is witnessing improving traction across aerospace, rail, off-highway and North American automotive, despite continued weakness in Europe. Tech remained soft due to one project completion and a delayed program start, though management expects the segment to return to growth from Q2 with a large telecom deal and multiple advanced-stage opportunities. Strong deal momentum, expanding AI partnerships (including Anthropic), improving mix towards high-margin businesses and continued operational discipline support management's confidence in sequential revenue and margin improvement through FY27, while reiterating its medium-term (5 years) aspiration of 13–15% revenue CAGR with 16–17% EBIT margins. 

Impact: Neutral

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