LTIMindtree Ltd

“LTIMindtree's net-cash balance sheet and client switching costs provide a stable foundation, but the post-merger synergy thesis remains unproven, revenue growth has trailed peers, a mid-cycle CEO departure adds execution risk, and the AI structural threat to offshore FTE demand carries a non-trivial probability of permanent impairment — none of which is adequately compensated at ~25x trailing earnings implying only ~7% equity CAGR.”