LTM Ltd shares in focus after expanding AI partnership with Google Cloud for Gemini Enterprise
What’s your AI plan? That’s the question being asked of every big company today. Pilots are easy to start, and easy to forget about, because the hard part is wiring AI into real workflows, with proper security and governance. That gap has created a huge opportunity for technology services firms that understand the tools and the industry. Partnerships with the big cloud providers have been the main way to fill it.
Shares of LTM Ltd . were trading at Rs. 3,980.50, up 0.24% from previous close of Rs. 3,971.10. The stock opened at Rs. 3,971.00 and reached an intraday high of Rs. 4,008.00 and low of Rs. 3,962.90. The company currently has a market capitalization of Rs. 1,18,316 crores.
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What's the news?
LTM announced on October 7 an expanded collaboration with Google Cloud to speed up the adoption of Gemini Enterprise. The company says it is making significant investments, though it has not put a figure on them. The work is built around three pillars: a dedicated Gemini Enterprise Center of Excellence, specialised talent and delivery, and industry-focused AI solutions to be shown at an upcoming Gemini Enterprise Customer Experience Center.
On the talent side, LTM plans to use forward deployed engineers, Gemini model specialists, and training and certification programmes to help clients move AI use cases from concept to production. The industry solutions will cover BFSI, manufacturing, retail and CPG, media and entertainment, and energy and utilities. Chief Growth Officer Krishnan Iyer said clients want to move past experiments and see clear business results, and this tie-up is meant to help them get there faster.
Financial & Business Analysis
Looking at the quarterly results of LTM Ltd., the company’s consolidated revenue increased by 15.94 percent YoY, from Rs. 10,232.7 crore in Q1 FY26 to Rs. 11,863.4 crore in Q1 FY27, and increased by 3.46 percent QoQ from Rs. 11,466.4 crore in Q4 FY26.
In Q1 FY27 LTM Ltd., consolidated net profit increased by 17.06 percent YoY, reaching Rs. 1,468.6 crore compared to Rs. 1,254.6 crore during the same period last year. As compared to Q4 FY26, the net profit has increased by 5.86 percent, from Rs. 1,387.3 crore.
The basic earnings per share increased by 16. percent and stood at Rs. 49.46 as against Rs. 42.33 recorded in the same quarter in the previous year, FY2026.
LTM's business leans heavily towards North America, which makes up roughly three-quarters of its revenue, followed by Europe at about 15% and the rest of the world at 11%. By industry, Consumer (retail, CPG, pharma, healthcare and media) is about 27% of the mix and Production (formerly manufacturing) about 19%, with the rest split across financial services, technology and other areas. That spread matters here, because the new industry AI solutions are aimed at several of these same sectors. The partnership does not add a new revenue line. It gives LTM a sharper offering to sell into clients it already serves.
The company reported an order inflow of about $1.68 billion in the June quarter, with a trailing twelve-month order book of around $6.65 billion. A deal pipeline that size means LTM already has room to add AI-led work on top of existing contracts, since a tie-up like this tends to help in renewals and larger transformation deals. The press release does not disclose any customer wins or revenue targets tied to the Google Cloud collaboration, so the payoff will only show over the next few quarters. Execution matters too, as clients need working results and not just announcements.
Industry Context
The money behind AI is huge and still climbing. Gartner projects worldwide AI spending of about $2.59 trillion in 2026, up 47% from last year. It also expects agentic AI spending, meaning software that completes tasks on its own, to reach about $201.9 billion this year. Over a longer horizon, it sees agentic AI software spending reaching $985 billion by 2030, a compound growth rate of 62.7% from 2025.
There is a catch, and it works in favour of services companies. Gartner also expects more than 40% of agentic AI projects to be cancelled by the end of 2027 because of unclear returns, rising costs and weak governance. Buying the technology is the easy part, but making it deliver value inside a real business is much harder. That is where firms with industry knowledge and delivery capacity, such as LTM, can step in and help.
Company Overview
LTM, a Larsen & Toubro Group company formerly known as LTIMindtree, is an AI-centric global technology services firm and self-described "Business Creativity" partner to large enterprises, with capabilities spanning integrated operations, digital transformation and Business AI across more than 87,000 employees in 40 countries. Built on decades of enterprise IT services experience across banking, financial services, manufacturing, technology and consumer sectors, the company has increasingly positioned itself around AI-led offerings - from its BlueVerse platform ecosystem to now Lightwell - as it tries to convert its existing base of enterprise relationships and domain expertise into a growing book of higher-margin, AI-driven services business