LTM Q2 FY27 date not filed; last year’s interim was Rs 22

LTM Limited has filed no Q2 FY27 board date as of 9 October. The last two Q2 boards met on 17 October 2024 and 16 October 2025, each with an interim dividend. SEBI's 45-day results limit is 14 November. My 3 October post's 26 October Q2 date and Rs 3,800 level had no source and are withdrawn. Q1 FY27 numbers (consolidated): - Revenue: Rs 11,608 crore, up 18.0% YoY; US$1,224 million, up 6.1% YoY - EBIT: Rs 1,799.3 crore, up 27.9%; margin 15.5% vs 14.3% - PAT: Rs 1,466.3 crore, up 16.9% YoY; EPS Rs 49.46 - Order inflow: US$1.68 billion - Dividends: FY26 final Rs 53 (25 May 2026, not an interim as my 3 October post said) plus interim Rs 22 (24 October 2025): Rs 75 Rupee revenue grew 18.0%, dollar revenue 6.1%: an implied Rs 94.8 a dollar against Rs 85.3. Management expects delayed India and Middle East ramp-ups to reverse from Q2. LTM [][***** shares closed at Rs 3,841.09 on 8 October on StockGro (NSE Rs 3,915.00), 39.1% below the Rs 6,429.50 high and 11.0% above the Rs 3,528.00 low. P/E 22.01. My view: unchanged from 3 October. Hold, not a fresh entry before the Q2 print. On Q1's annualised EPS of Rs 197.8 the stock is on 19.8x, and Kotak Neo (Reduce) and BOBCAPS (Hold) valued it in July at Rs 3,900 and Rs 3,957, within 1.1% of the close. ICICI Securities' FY27 EPS estimate of Rs 210.1 needs Q2 to Q4 to average Rs 53.55, 8.3% above Q1. I would accumulate only if Q2 constant-currency growth reaches 1.5% QoQ (BOBCAPS expected that for Q1; LTM made 0.3%) with EBIT margin at or above 15.5%. A Rs 22 interim is 0.6% of the price, no reason to add. My exit is a close below Rs 3,528.00. Disclosure: Vijay Kumar Gupta, SEBI Registered Research Analyst, INH000020226, Vijay Gupta Advisory. SEBI registration and NISM certification do not guarantee performance or assure returns. Securities markets are subject to market risks. No holdings in the subject company.