LTIMindtree - Integration Benefits To Take Longer Time: Dolat Capital

Dolat Capital Report

Investor Day 2023 was centered on theme of 'Getting to the Future, Faster. Together' with aim to simplify, unify and provide clarity in paradoxical times. Will act as One brand effective April 2023.

LTIMindree Ltd. highlighted that Silicon Valley Bank was the only small bank that it was working with and impact here is small. Rather its client roster boast of 12 of Top 20 Global Corporate Banks which are gaining in current situation.

Management’s aspired to achieve revenue synergies of $1 billion plus (mostly through cross sell, that is currently at three times on nine service lines) and expect to gain cost synergies led margin expansion of 200 basis points by FY27 (implies operating band of 19-20% versus 16.2% in nine months-FY23).

Management sees long term demand trend remain secular. However, we believe current macro environment may elongate decision cycles of clients specifically in banking, financial services and insurance segment (36% of revenue).

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