LTM logo

LTM CEO, MD, chairman, board of directors and AGM

NSE: LTMBSE: 540005IT - SoftwareLarge Cap

Formerly LTIMindtree
Last close ₹4,134.00down ₹140.00 (3.28%)BSE ₹4,136.90

Share price at the NSE close on 23 Oct 2026. Previous close ₹4,274.00.

52-week range of traded prices to 23 Oct 2026
₹3,528.00Low, 30 Jun 2026₹6,429.50High, 19 Jan 2026
Market cap
₹1,22,623 Cr66th largest listed
P/E
23.5
P/E without one-offs
21.3
P/B
4.7
Dividend yield
1.89%
ROE
21.2%
ROE without one-offs
23.4%
ROCE
27.3%
Debt to equity
0.00
Volume, NSE
5,72,71723.2% delivered

LTM board of directors

At the end of the quarter to Jun 2026, as the company filed it; changes since are in its announcements.Their trades in its shares

  • ChairpersonSekharipuram Narayanan SubrahmanyanRelated to the promoter
  • Managing director and CEOVenugopal Lambu
  • Company Secretary and Compliance OfficerAngna Arora

10 directors6 independent2 executive2 non-executive

  • Sekharipuram Narayanan Subrahmanyan · ChairpersonNon-executive · joined Jan 2015 · 5 listed boards
  • Ramamurthi Shankar RamanNon-executive · joined Oct 2015 · 3 listed boards · 2 committee seats
  • Venugopal Lambu · Managing director and CEOExecutive · joined Jan 2025 · 1 listed board · 1 committee seat
  • Vipul ChandraExecutive · joined Apr 2026 · 1 listed board
  • Sanjeev AgaIndependent · joined Nov 2016 · reappointed Nov 2021 · 115 months as independent · 2 listed boards · 1 as independent
  • James Varghese AbrahamIndependent · joined Jul 2021 · reappointed Jul 2021 · 59 months as independent · 1 listed board · 1 as independent · 2 committee seats, 1 as chair
  • Vinayak ChatterjeeIndependent · joined Apr 2022 · reappointed Apr 2022 · 51 months as independent · 2 listed boards · 2 as independent · 1 committee seat, 1 as chair
  • Apurva PurohitIndependent · joined Nov 2022 · reappointed Nov 2022 · 43 months as independent · 5 listed boards · 5 as independent · 3 committee seats
  • Bijou KurienIndependent · joined Nov 2022 · reappointed Nov 2022 · 43 months as independent · 7 listed boards · 7 as independent · 10 committee seats, 5 as chair
  • R. ChandrasekaranIndependent · joined Nov 2022 · reappointed Nov 2022 · 43 months as independent · 2 listed boards · 2 as independent · 2 committee seats

An independent director has no business or family tie to the company, its promoters or its managers beyond the seat. Listed boards counts the boards of listed companies the director sits on, this one included, and "as independent" how many of those seats are independent ones. Committee seats are audit and stakeholder committee seats across those companies. Months as independent is filed for independent directors only, whose terms the rules cap. Disqualified is the company's own mark that a director may not serve under company law.

3 directors who left
  • Nachiket Deshpande, left 31 Oct 2025: Others
  • Debashis Chatterjee, left 30 May 2025: Others
  • Sudhir Chaturvedi, left 27 Jan 2025: Others

Committees and meetings

Who sits on each, and how often they met.Board meeting notices and outcomes

  • Board

    • 23 Apr 20269 of 9 present6 independent · 47 days in between
    • 6 Mar 20269 of 9 present6 independent · 45 days in between
    • 19 Jan 20269 of 9 present6 independent

  • Audit Committee

    Chair James Varghese Abraham

    Ramamurthi Shankar Raman, R. Chandrasekaran, Bijou Kurien

    • 23 Apr 20264 of 4 present3 independent · 27 days in between
    • 26 Mar 20264 of 4 present3 independent
    • 19 Jan 20264 of 4 present3 independent

  • Nomination and remuneration committee

    Chair Sanjeev Aga

    Sekharipuram Narayanan Subrahmanyan, Apurva Purohit

    • 23 Apr 20263 of 3 present2 independent · 93 days in between
    • 19 Jan 20263 of 3 present2 independent

  • Stakeholders Relationship Committee

    Chair Bijou Kurien

    Venugopal Lambu, James Varghese Abraham

    No meeting listed in the filing.

  • Risk Management Committee

    Chair Vinayak Chatterjee

    R. Chandrasekaran, Venugopal Lambu

    • 21 Apr 20263 of 3 present2 independent · 94 days in between
    • 16 Jan 20263 of 3 present2 independent

  • Corporate Social Responsibility Committee

    Chair Apurva Purohit

    Sanjeev Aga, Venugopal Lambu

    • 21 Apr 20263 of 3 present2 independent · 94 days in between
    • 16 Jan 20263 of 3 present2 independent

Meetings in the quarter filed and the one before it. The days in between are as the company files them, neither meeting's day counted; the rules allow at most 120. A quorum is the least number of members who must attend for the meeting to decide anything.

Statutory auditor

Named in the results for the quarter to Mar 2026.

  • Deloitte Haskins & Sells Chartered Accountants LLPPeer-review certificate valid to Dec 2027

A statutory auditor checks the company's accounts and signs its results. Peer review is the accountants' institute's check of an audit firm's own work, which a listed company's auditor must hold a valid certificate of.

LTM AGM and shareholder votes

Each resolution, how the votes went, and how institutions voted apart from the promoters. A postal ballot is a vote by post or online, held without a meeting.LTM dividend history

Annual general meeting, 1 Jun 2026

3,94,919 shareholders on the register on 25 May 2026; present: 1 promoter and 70 others; votes counted by Ms. Krupa Joisar / Krupa Joisar & Associates.The company's voting result (opens in a new tab)

  1. To consider and adopt the Audited Standalone Financial Statements for the year ended March 31, 2026, and the reports of the Board of Directors and Auditors
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.04%

    Turnout: all 87.03% · promoters 100.00% · institutions 78.49% · other public 2.11%

  2. To consider and adopt the Audited Consolidated Financial Statements for the year ended March 31, 2026
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.04%

    Turnout: all 87.03% · promoters 100.00% · institutions 78.49% · other public 2.11%

  3. To declare a final dividend of I 53/- per equity share of face value of I 1/- each for the Financial Year 2025-26
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.03%

    Turnout: all 87.03% · promoters 100.00% · institutions 78.50% · other public 2.11%

  4. To appoint a Director in place of Mr. R. Shankar Raman (DIN: 00019798), who retires by rotation, and being eligible, has offered himself for re-appointment
    Ordinary
    96.39% for3.61% against

    Against: promoters 0.00% · institutions 16.37% · other public 78.50%

    Turnout: all 87.03% · promoters 100.00% · institutions 78.50% · other public 2.11%

  5. To appoint Mr. Vipul Chandra (DIN: 06692474) as Whole-time Director.
    Ordinary
    98.64% for1.36% against

    Against: promoters 0.00% · institutions 6.39% · other public 3.63%

    Turnout: all 87.03% · promoters 100.00% · institutions 78.49% · other public 2.11%

  6. To re-appoint Mr. James Abraham (DIN: 02559000) as an Independent Director.
    Special
    97.95% for2.05% against

    Against: promoters 0.00% · institutions 8.94% · other public 81.95%

    Turnout: all 87.03% · promoters 100.00% · institutions 78.50% · other public 2.11%

For and against are per cent of the votes cast. Turnout is the votes cast as a per cent of the shares each group holds. Institutions are funds, insurers, banks and foreign investors. An ordinary resolution passes with more than half the votes cast, a special one with at least three quarters.

Postal ballot, 13 Mar 2026, 1 resolution

3,86,678 shareholders on the register on 6 Feb 2026; votes counted by Ms. Krupa Joisar / Practising Company Secretary.The company's voting result (opens in a new tab)

  1. CHANGE OF NAME OF COMPANY AND CONSEQUENT ALTERATION OF MEMORANDUM AND ARTICLES OF ASSOCIATION
    Special
    99.99% for0.01% against

    Against: promoters 0.00% · institutions 0.00% · other public 12.54%

    Turnout: all 87.21% · promoters 100.00% · institutions 79.22% · other public 0.77%

For and against are per cent of the votes cast. Turnout is the votes cast as a per cent of the shares each group holds. Institutions are funds, insurers, banks and foreign investors. An ordinary resolution passes with more than half the votes cast, a special one with at least three quarters.

How mutual funds voted

Fund houses must disclose how they vote at every meeting of a company they hold.Funds that hold it

Mutual fund votes, meeting of 1 Jun 2026, 34 fund houses

  • To consider and adopt the Audited Standalone Financial Statements for the year ended March 31, 2026, and the reports of the Board of Directors and Auditors
    34 for0 against
  • To consider and adopt the Audited Consolidated Financial Statements for the year ended March 31, 2026
    34 for0 against
  • To declare a final dividend of I 53/- per equity share of face value of I 1/- each for the Financial Year 2025-26
    34 for0 against
  • To appoint a Director in place of Mr. R. Shankar Raman (DIN: 00019798), who retires by rotation, and being eligible, has offered himself for re-appointment
    Against HSBC Mutual Fund
    • HSBC Mutual FundA vote AGAINST this resolution is warranted because the board independence norms are not met and Ramamurthi Shankar Raman is a non-independent director nominee.
    33 for1 against
  • To appoint Mr. Vipul Chandra (DIN: 06692474) as Whole-time Director.
    34 for0 against
  • To re-appoint Mr. James Abraham (DIN: 02559000) as an Independent Director.
    Against Angel One Mutual Fund, Axis Mutual Fund, Bandhan Mutual Fund, Baroda BNP Paribas Mutual Fund, Canara Robeco Mutual Fund, Choice Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, HDFC Mutual Fund, Invesco Mutual Fund, Jio BlackRock Mutual Fund, LIC Mutual Fund, Navi Mutual Fund, Nippon India Mutual Fund, PGIM India Mutual Fund, PPFAS Mutual Fund, Unifi Mutual Fund, Zerodha Mutual Fund
    • Angel One Mutual FundGovernance concern: Mr. James Abraham has been associated with the L&T group for more than 10 year, resulting in prolonged association with the Group which may vitiate his independence.
    • Axis Mutual Fund, Canara Robeco Mutual Fund, Jio BlackRock Mutual Fund, Unifi Mutual FundJames Abraham, 61, is founder and director of Mynzo Carbon Private Limited. He is former MD and CEO of SunBorne Energy, a solar-EPC company. In the past he was Senior Partner and Managing Director of BCG, where he worked from 1994 to 2009. He was Director of Bell Canada international. He has over thirty-five years of experience in management roles. He has been Independent Director on the board of LTM Limited since 18 July 2021. He attended all six board meetings held in FY26. His reappointment as Independent Director is in line with statutory requirements. James Abraham was on the board of L&T Power Development Limited (a Larson & Toubro group company) from 24 March 2011 till 11 October 2018. He was appointed on the board of LTM Limited on 18 July 2021 as Independent Director without a cooling off of three years. Therefore, given his long (>10 years) association with Larson & Toubro group, we do not support his appointment as Independent Director. The company must consider reappointing him as non-executive non-Independent Director. We do not support the resolution.
    • Bandhan Mutual Fund, LIC Mutual Fund, Navi Mutual Fund, PGIM India Mutual FundCompliant with law. Governance concern: Mr. James Abraham has been associated with the L&T group for more than 10 year, resulting in prolonged association with the Group which may vitiate his independence.
    • Baroda BNP Paribas Mutual FundCompliant with law. Governance concern: Mr. James Abraham has been associated with the L&T group for more than 10 year, resulting in prolonged association with the Group which may vitiate his independence. Since the association with the L&T group is prolonged, we don't support the resolution.
    • Choice Mutual FundMr. James Abraham has been associated with the L&T group for more than 10 year, resulting in prolonged association with the Group which may vitiate his independence.
    • Edelweiss Mutual Fund, Groww Mutual Fund, Zerodha Mutual FundCompliant with law. Governance concern: Mr. James Abraham has been associated with the L&T group for more than 10 year, resulting in prolonged association with the Group which may vitiate his independence. Furthermore, the proposed appointee is the Audit chairperson and non-audit fees has been more than 50% of audit fees paid to Statutory Auditors during last 3 FYs. Since Audit committee is responsible for determining terms of appointment and remuneration of Auditors, itshould be held responsible for significant payment of non-audit fees, without any reasonable justification.
    • HDFC Mutual FundJames Abraham, 61, is founder and director of Mynzo Carbon Private Limited. He has been Independent Director on the board of LTM Limited since 18 July 2021. He attended all six board meetings held in FY26. He was on the board of L&T Power Development Limited (a Larson & Toubro group company) from 24 March 2011 till 11 October 2018. He was appointed on the board of LTM Limited on 18 July 2021 as Independent Director without a cooling off of three years. Therefore, given his long association with Larson & Toubro group, we do not support his appointment as Independent Director. We do not support the resolution.
    • Invesco Mutual FundJames Abraham, 61, is founder and director of Mynzo Carbon Private Limited. He is former MD and CEO of SunBorne Energy, a solar-EPC company. In the past he was Senior Partner and Managing Director of BCG, where he worked from 1994 to 2009. He was Director of Bell Canada international. He has over thirty-five years of experience in management roles. He has been Independent Director on the board of LTM Limited since 18 July 2021. He attended all six board meetings held in FY26. His reappointment as Independent Director is in line with statutory requirements. James Abraham was on the board of L&T Power Development Limited (a Larson & Toubro group company) from 24 March 2011 till 11 October 2018. He was appointed on the board of LTM Limited on 18 July 2021 as Independent Director without a cooling off of three years. Therefore, given his long (>10 years) association with Larson & Toubro group, we do not support his appointment as Independent Director. The company must consider reappointing him as non-executive non-Independent Director. We do not support the resolution. This is in line with our ESG framework.
    • Nippon India Mutual FundGovernance Concern: Mr. James Abraham has been associated with the L&T group for more than 10 year, resulting in prolonged association with the Group which may vitiate his independence.
    • PPFAS Mutual FundProlonged association with the group.
    16 for18 against

Mutual fund votes, meeting of 13 Mar 2026, 33 fund houses

  • CHANGE OF NAME OF COMPANY AND CONSEQUENT ALTERATION OF MEMORANDUM AND ARTICLES OF ASSOCIATION
    33 for0 against
6 earlier meetings

Mutual fund votes, meeting of 7 Aug 2025, 29 fund houses

  • 1) Redesignate and appoint Venugopal Lambu (DIN: 08840898) as Managing Director, not liable to retire by rotation, from 31 May 2025 till the end of his current term on 23 January 2030 and fix his remuneration.MoreLess
    1 for0 against
  • Appointment of Mr. Venugopal Lambu (DIN: 08840898) as the Managing Director of the Company, not liable to retire by rotation, to hold office from May 31, 2025 upto his original date of appointment as Director i.e. upto January 23, 2030 (both days inclusive) and including remuneration.MoreLess
    Against Invesco Mutual Fund, Mirae Asset Mutual Fund
    • Invesco Mutual FundAs Managing Director, we estimate Venugopal Lambu's assured pay at Rs. 151.0 mn including fair value of 40,000 stock options granted to him (since the exercise price is Re. 1). He is also entitled to a variable pay of Rs. 40.6 mn plus profit linked incentive of 0.15% of standalone PAT. The company should disclose performance metrics used to determine the variable pay and profit linked incentive. The NRC has the discretion to grant additional stock options during the proposed term. The company should disclose the quantum of stock options that that may be granted over his tenure and cap the overall remuneration in absolute terms. While we support his appointment as Managing Director, in the absence of clarity regarding the quantum of stock options that may be granted over the course of his tenure, we are unable to make an informed decision on the overall remuneration. Hence, we do not support the resolution. This is in line with our ESG framework.
    • Mirae Asset Mutual FundWe do not support ESOP pricing at significant discount to market price.
    21 for2 against
  • Approve Appointment and Remuneration of Venugopal Lambu as Managing Director
    1 for0 against
  • Redesignate and appoint Venugopal Lambu (DIN: 08840898) as Managing Director, not liable to retire by rotation, from 31 May 2025 till the end of his current term on 23 January 2030 and fix his remunerationMoreLess
    Against Canara Robeco Mutual Fund
    • Canara Robeco Mutual FundAs Managing Director, we estimate Venugopal Lambu's assured pay at Rs. 151.0 mn including fair value of 40,000 stock options granted to him (since the exercise price is Re. 1). He is also entitled to a variable pay of Rs. 40.6 mn plus profit linked incentive of 0.15% of standalone PAT. The company should disclose performance metrics used to determine the variable pay and profit linked incentive. The NRC has the discretion to grant additional stock options during the proposed term. The company should disclose the quantum of stock options that that may be granted over his tenure and cap the overall remuneration in absolute terms. While we support his appointment as Managing Director, in the absence of clarity regarding the quantum of stock options that may be granted over the course of his tenure, we are unable to make an informed decision on the overall remuneration. Hence, we do not support the resolution.
    3 for1 against

Mutual fund votes, meeting of 30 May 2025, 29 fund houses

  • 1) Adoption of Audited Standalone Financial Statements for the year ended March 31, 2025 and the reports of the Directors and Auditors thereon.
    1 for0 against
  • 2) Adoption of Audited Consolidated Financial Statements for the year ended March 31, 2025 and Auditors report thereon.
    1 for0 against
  • 3) Declare final dividend of Rs. 45.0 per equity share of face value Re. 1.0 for FY25.
    1 for0 against
  • 4) Reappoint Nachiket Deshpande (DIN: 08385028) as Director, liable to retire by rotation.
    1 for0 against
  • 5) Reappoint S.N. Subrahmanyan (DIN: 02255382) as Non-Executive Non-Independent Director, liable to retire by rotation.
    1 for0 against
  • 6) Approve related party transactions with Larsen & Toubro Limited (holding company) aggregating upto Rs. 15.0 bn from the conclusion of 2025 AGM till the 2026 AGM.
    1 for0 against
  • 7) Appoint Alwyn Jay & Co as secretarial auditors for five years from 1 April 2025 till 31 March 2030 and fix their remuneration.
    1 for0 against
  • Accept Consolidated Financial Statements and Statutory Reports
    1 for0 against
  • Accept Standalone Financial Statements and Statutory Reports
    1 for0 against
  • Adoption of consolidated financial statements for the year ended 31 March 2025
    4 for0 against
  • Adoption of standalone financial statements for the year ended 31 March 2025
    4 for0 against
  • Appoint Alwyn Jay & Co as secretarial auditors for five years from 1 April 2025 till 31 March 2030 and fix their remuneration
    4 for0 against
  • Appointment of M/s. Alwyn Jay and Co, Practising Company Secretaries (Firm Registration Number P2010MH021500) as Secretarial Auditors of the Company for a period of 5 consecutive years, from April 1, 2025 to March 31, 2030 (the Term), and including remuneration.MoreLess
    23 for0 against
  • Approve Alwyn Jay & Co as Secretarial Auditors and Authorize Board to Fix Their Remuneration
    1 for0 against
  • Approve Final Dividend
    1 for0 against
  • Approve Material Related Party Transactions with Larsen & Toubro Limited
    1 for0 against
  • Approve related party transactions with Larsen & Toubro Limited (holding company) aggregating upto Rs. 15.0 bn from the conclusion of 2025 AGM till the 2026 AGM
    4 for0 against
  • Declare final dividend of Rs. 45.0 per equity share of face value Re. 1.0 for FY25
    4 for0 against
  • Entering into material Related Party Transactions with Larsen and Toubro Limited, Holding Company in the nature of a) sale, purchase, lease or supply of goods or business assets or property or equipment b) availing or rendering of services including the use of Trademark, etc. c) transfer of any resources, services or obligations to meet business objectives/ requirements, etc. (Related Party Transactions), upto an amount of INR 1,500 crore.MoreLess
    Against Angel One Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund, Navi Mutual Fund, Nippon India Mutual Fund, PPFAS Mutual Fund, Zerodha Mutual Fund
    • Angel One Mutual FundGovernance Concern: It is unclear as to how certain transactions falls within the ordinary course of business.
    • Edelweiss Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund, Navi Mutual Fund, Zerodha Mutual FundCompliant with law. Governance Concern: It is unclear as to how certain transactions falls within the ordinary course of business.
    • Nippon India Mutual FundGovernance Concern: Lack of Clarity
    • PPFAS Mutual FundUnclear how certain transaction falls within the ordinary course of business
    15 for8 against
  • Reappoint Nachiket Deshpande (DIN: 08385028) as Director, liable to retire by rotation
    4 for0 against
  • Reappoint S.N. Subrahmanyan (DIN: 02255382) as Non-Executive Non-Independent Director, liable to retire by rotation
    4 for0 against
  • Reelect Nachiket Deshpande as Director
    1 for0 against
  • Reelect S.N. Subrahmanyan as Director
    1 for0 against
  • To appoint a Director in place of Mr. Nachiket Deshpande (DIN: 08385028), who retires by rotation, and being eligible, has offered himself for re-appointment.
    23 for0 against
  • To appoint a Director in place of Mr. S.N. Subrahmanyan (DIN: 02255382), who retires by rotation, and being eligible, has offered himself for re-appointment.
    23 for0 against
  • To consider and adopt the Audited Consolidated Financial Statements for the year ended March 31, 2025 and the report of the Auditors thereon.
    23 for0 against
  • To consider and adopt the Audited Standalone Financial Statements for the year ended March 31, 2025 and the reports of the Board of Directors and Auditors thereon.
    23 for0 against
  • To declare a final dividend of Rs. 45/- per equity share of face value of Rs. 1/- each for the Financial Year 2024-25.
    23 for0 against

Mutual fund votes, meeting of 20 Apr 2025, 34 fund houses

  • Item 1, as a fund house numbered it
    Against Taurus Mutual Fund
    • Taurus Mutual FundVenugopal Lambu, 53, served as Executive Director of Mindtree Limited until its merger in November 2022. He was appointed Whole-time Director of LTIMindtree for three years from 14 November 2022 but resigned on 10 January 2023. With the current MD’s term ending in November 2025, the company proposes to appoint Venugopal Lambu as Whole-time Director and CEO (Designate) for five years from 24 January 2025. We estimate Venugopal Lambu's fixed remuneration at Rs. 143.1 mn including fair value of 40,000 stock options granted to him (since the exercise price is Re. 1.0 with equal vesting over four years). He is also entitled to a variable pay of Rs. 38.7 mn plus profit linked incentive of 0.15% of standalone PBT. The company should disclose performance metrics that will be used to determine his variable pay and profit linked incentive. As per the notice, the NRC has the discretion to grant additional stock options during his proposed term. The company should disclose the quantum of stock options that he is eligible to receive over his tenure and cap his overall remuneration in absolute terms. While we support his appointment, in the absence of clarity regarding the quantum of stock options that may be granted to him, we are unable to make an informed decision on his overall remuneration. Hence, we do not support the resolution.
    0 for1 against
  • Item 2, as a fund house numbered it
    Against Taurus Mutual Fund
    • Taurus Mutual FundNachiket Deshpande, 51, was reappointed as Whole-time Director and Chief Operating Officer from 2 May 2024 for five years. At the board meeting held on 6 March 2025, the company appointed him as President – Global AI Services, Strategic Deals and Partnerships at LTIMindtree Limited. In his new role, he will be based out of the US and will be paid remuneration in USD. As per Nachiket Deshpande’s revised remuneration terms, he is entitled to receive a fixed pay of Rs. 45.4 mn and variable pay of Rs. 23.1 mn. The company should disclose performance metrics that will be used to determine his variable pay. As per his terms of appointment in 2024 AGM, he is eligible to receive 24,800 stock options. However, the NRC has the discretion to grant him additional stock options during his term. Due to lack of clarity on stock options, we are unable to estimate Nachiket Deshpande's overall remuneration. The company should disclose the quantum of stock options that he is eligible to receive over his tenure and cap his overall remuneration in absolute terms. In the absence of clarity on the stock options, we are unable to make an informed decision on his overall remuneration and hence we do not support the resolution.
    0 for1 against
  • 1) Appoint Venugopal Lambu (DIN: 08385028) as Whole-time Director for five years from 24 January 2025 and fix his remuneration.
    1 for0 against
  • 2) Approve revision in remuneration payable to Nachiket Deshpande (DIN: 08385028), Whole-time Director, from 1 April 2025 till end of his tenure on 1 May 2029.
    1 for0 against
  • Appoint Venugopal Lambu (DIN: 08385028) as Whole-time Director for five years from 24 January 2025 and fix his remuneration
    Against Bank of India Mutual Fund, Canara Robeco Mutual Fund
    • Bank of India Mutual Fund, Canara Robeco Mutual FundVenugopal Lambu, 53, served as Executive Director of Mindtree Limited until its merger in November 2022. He was appointed Whole-time Director of LTIMindtree for three years from 14 November 2022 but resigned on 10 January 2023. With the current MD’s term ending in November 2025, the company proposes to appoint Venugopal Lambu as Whole-time Director and CEO (Designate) for five years from 24 January 2025.We estimate Venugopal Lambu's fixed remuneration at Rs. 143.1 mn including fair value of 40,000 stock options granted to him (since the exercise price is Re. 1.0 with equal vesting over four years). He is also entitled to a variable pay of Rs. 38.7 mn plus profit linked incentive of 0.15% of standalone PBT. The company should disclose performance metrics that will be used to determine his variable pay and profit linked incentive.As per the notice, the NRC has the discretion to grant additional stock options during his proposed term. The company should disclose the quantum of stock options that he is eligible to receive over his tenure and cap his overall remuneration in absolute terms. While we support his appointment, in the absence of clarity regarding the quantum of stock options that may be granted to him, we are unable to make an informed decision on his overall remuneration. Hence, we do not support the resolution.
    3 for2 against
  • Appointment of Mr. Venugopal Lambu (DIN: 08840898) as Whole- time Director, liable to retire by rotation, to hold office for a term of 5 (Five) consecutive years commencing from January 24, 2025 to January 23, 2030 (both days inclusive) and including remuneration.MoreLess
    Against Invesco Mutual Fund, Mirae Asset Mutual Fund, Navi Mutual Fund
    • Invesco Mutual FundVenugopal Lambu, 53, served as Executive Director of Mindtree Limited until its merger in November 2022. He was appointed Whole-time Director of LTIMindtree for three years from 14 November 2022 but resigned on 10 January 2023. With the current MD’s term ending in November 2025, the company proposes to appoint Venugopal Lambu as Whole-time Director and CEO (Designate) for five years from 24 January 2025. We estimate Venugopal Lambu's fixed remuneration at Rs. 143.1 mn including fair value of 40,000 stock options granted to him (since the exercise price is Re. 1.0 with equal vesting over four years). He is also entitled to a variable pay of Rs. 38.7 mn plus profit linked incentive of 0.15% of standalone PBT. The company should disclose performance metrics that will be used to determine his variable pay and profit linked incentive. As per the notice, the NRC has the discretion to grant additional stock options during his proposed term. The company should disclose the quantum of stock options that he is eligible to receive over his tenure and cap his overall remuneration in absolute terms. While we support his appointment, in the absence of clarity regarding the quantum of stock options that may be granted to him, we are unable to make an informed decision on his overall remuneration. Hence, we do not support the resolution. This is in line with our ESG framework
    • Mirae Asset Mutual FundESOP pricing at significant discount to market price
    • Navi Mutual FundVenugopal Lambu, 53, served as Executive Director of Mindtree Limited until its merger in November 2022. He was appointed Whole-time Director of LTIMindtree for three years from 14 November 2022 but resigned on 10 January 2023. With the current MD’s term ending in November 2025, the company proposes to appoint Venugopal Lambu as Whole-time Director and CEO (Designate) for five years from 24 January 2025. We estimate Venugopal Lambu's fixed remuneration at Rs. 143.1 mn including fair value of 40,000 stock options granted to him (since the exercise price is Re. 1.0 with equal vesting over four years). He is also entitled to a variable pay of Rs. 38.7 mn plus profit linked incentive of 0.15% of standalone PBT. The company should disclose performance metrics that will be used to determine his variable pay and profit linked incentive. As per the notice, the NRC has the discretion to grant additional stock options during his proposed term. The company should disclose the quantum of stock options that he is eligible to receive over his tenure and cap his overall remuneration in absolute terms. While we support his appointment, in the absence of clarity regarding the quantum of stock options that may be granted to him, we are unable to make an informed decision on his overall remuneration. Hence, we do not support the resolution.
    22 for3 against
  • Approve Appointment and Remuneration of Venugopal Lambu as Whole-Time Director
    2 for0 against
  • Approve Revision in Remuneration of Nachiket Deshpande as Whole-Time Director
    2 for0 against
  • Approve revision in remuneration payable to Nachiket Deshpande (DIN: 08385028), Whole-time Director, from 1 April 2025 till end of his tenure on 1 May 2029
    Against Bank of India Mutual Fund, Canara Robeco Mutual Fund
    • Bank of India Mutual Fund, Canara Robeco Mutual FundNachiket Deshpande, 51, was reappointed as Whole-time Director and Chief Operating Officer from 2 May 2024 for five years. At the board meeting held on 6 March 2025, the company appointed him as President – Global AI Services, Strategic Deals and Partnerships at LTIMindtree Limited. In his new role, he will be based out of the US and will be paid remuneration in USD.As per Nachiket Deshpande’s revised remuneration terms, he is entitled to receive a fixed pay of Rs. 45.4 mn and variable pay of Rs. 23.1 mn. The company should disclose performance metrics that will be used to determine his variable pay. As per his terms of appointment in 2024 AGM, he is eligible to receive 24,800 stock options. However, the NRC has the discretion to grant him additional stock options during his term. Due to lack of clarity on stock options, we are unable to estimate Nachiket Deshpande's overall remuneration. The company should disclose the quantum of stock options that he is eligible to receive over his tenure and cap his overall remuneration in absolute terms. In the absence of clarity on the stock options, we are unable to make an informed decision on his overall remuneration and hence we do not support the resolution.
    3 for2 against
  • Revision in remuneration of Mr. Nachiket Deshpande (DIN: 08385028), as Whole- time Director with effect from April 1, 2025, for the remainder period of his present tenure as Whole- time Director upto May 1, 2029.MoreLess
    Against Invesco Mutual Fund, Mirae Asset Mutual Fund, Navi Mutual Fund
    • Invesco Mutual FundNachiket Deshpande, 51, was reappointed as Whole-time Director and Chief Operating Officer from 2 May 2024 for five years. At the board meeting held on 6 March 2025, the company appointed him as President – Global AI Services, Strategic Deals and Partnerships at LTIMindtree Limited. In his new role, he will be based out of the US and will be paid remuneration in USD. As per Nachiket Deshpande’s revised remuneration terms, he is entitled to receive a fixed pay of Rs. 45.4 mn and variable pay of Rs. 23.1 mn. The company should disclose performance metrics that will be used to determine his variable pay. As per his terms of appointment in 2024 AGM, he is eligible to receive 24,800 stock options. However, the NRC has the discretion to grant him additional stock options during his term. Due to lack of clarity on stock options, we are unable to estimate Nachiket Deshpande's overall remuneration. The company should disclose the quantum of stock options that he is eligible to receive over his tenure and cap his overall remuneration in absolute terms. In the absence of clarity on the stock options, we are unable to make an informed decision on his overall remuneration and hence we do not support the resolution. This is in line with our ESG framework
    • Mirae Asset Mutual FundESOP pricing at significant discount to market price
    • Navi Mutual FundNachiket Deshpande, 51, was reappointed as Whole-time Director and Chief Operating Officer from 2 May 2024 for five years. At the board meeting held on 6 March 2025, the company appointed him as President – Global AI Services, Strategic Deals and Partnerships at LTIMindtree Limited. In his new role, he will be based out of the US and will be paid remuneration in USD. As per Nachiket Deshpande’s revised remuneration terms, he is entitled to receive a fixed pay of Rs. 45.4 mn and variable pay of Rs. 23.1 mn. The company should disclose performance metrics that will be used to determine his variable pay. As per his terms of appointment in 2024 AGM, he is eligible to receive 24,800 stock options. However, the NRC has the discretion to grant him additional stock options during his term. Due to lack of clarity on stock options, we are unable to estimate Nachiket Deshpande's overall remuneration. The company should disclose the quantum of stock options that he is eligible to receive over his tenure and cap his overall remuneration in absolute terms. In the absence of clarity on the stock options, we are unable to make an informed decision on his overall remuneration and hence we do not support the resolution.
    22 for3 against

Mutual fund votes, meeting of 26 Jun 2024, 31 fund houses

  • Item 1, as a fund house numbered it
    1 for0 against
  • Item 2, as a fund house numbered it
    1 for0 against
  • Item 3, as a fund house numbered it
    1 for0 against
  • Item 4, as a fund house numbered it
    1 for0 against
  • Item 5, as a fund house numbered it
    1 for0 against
  • Item 6, as a fund house numbered it
    1 for0 against
  • Item 7, as a fund house numbered it
    1 for0 against
  • 1) Adoption of Audited Standalone Financial Statements for the year ended March 31, 2024 and the reports of the Directors and Auditors thereon.
    1 for0 against
  • 2) Adoption of Audited Consolidated Financial Statements for the year ended March 31, 2024 and Auditors report thereon.
    1 for0 against
  • 3) Declare final dividend of Rs. 45.0 per equity share of face value Re. 1.0 for FY24.
    1 for0 against
  • 4) Reappoint S.N. Subrahmanyan (DIN: 02255382) as Non-Executive Non-Independent Director, liable to retire by rotation.
    1 for0 against
  • 5) Reappoint R. Shankar Raman (DIN: 00019798) as Non-Executive Non-Independent Director, liable to retire by rotation.
    1 for0 against
  • 6) Reappoint Nachiket Deshpande (DIN: 08385028) as Whole time Director for five years from 2 May 2024 and fix his remuneration.
    1 for0 against
  • 7) Approve related party transactions with Larsen & Toubro Limited (holding company) aggregating upto Rs. 20.0 bn from the conclusion of 2024 AGM till the 2025 AGM.
    1 for0 against
  • Accept Consolidated Financial Statements and Statutory Reports
    2 for0 against
  • Accept Standalone Financial Statements and Statutory Reports
    2 for0 against
  • Adoption of consolidated financial statements for the year ended 31 March 2024
    4 for0 against
  • Adoption of standalone financial statements for the year ended 31 March 2024
    4 for0 against
  • Approve Final Dividend
    2 for0 against
  • Approve Material Related Party Transactions with Larsen & Toubro Limited, Holding Company
    2 for0 against
  • Approve Reappointment and Remuneration of Nachiket Deshpande as Whole-Time Director
    2 for0 against
  • Approve related party transactions with Larsen & Toubro Limited (holding company) aggregating upto Rs. 20.0 bn from the conclusion of 2024 AGM till the 2025 AGM
    4 for0 against
  • Declare final dividend of Rs. 45.0 per equity share of face value Re. 1.0 for FY24
    4 for0 against
  • Re-appointment of Mr. Nachiket Deshpande (DIN: 08385028) as a Whole - time Director of the Company, liable to retire by rotation, for a period of five years commencing from May 2, 2024 until May 1, 2029 and including remuneration.MoreLess
    22 for0 against
  • Reappoint Nachiket Deshpande (DIN: 08385028) as Whole time Director for five years from 2 May 2024 and fix his remuneration
    4 for0 against
  • Reappoint R. Shankar Raman (DIN: 00019798) as Non-Executive Non-Independent Director, liable to retire by rotation
    4 for0 against
  • Reappoint S.N. Subrahmanyan (DIN: 02255382) as Non-Executive Non-Independent Director, liable to retire by rotation
    4 for0 against
  • Reelect R. Shankar Raman as Director
    Against HSBC Mutual Fund
    • HSBC Mutual FundWe are voting against this longest serving non-executive director as we have concerns about the company's management of human rights issues.
    1 for1 against
  • Reelect S.N. Subrahmanyan as Director
    2 for0 against
  • T consider and adopt the Audited Consolidated Financial Statements of the Company for the year ended March 31, 2024 and the report of the Auditor thereon.
    1 for0 against
  • To appoint a Director in place of Mr. R. Shankar Raman (DIN: 00019798), who retires by rotation, and being eligible, has offered himself for re-appointment.
    23 for0 against
  • To appoint a Director in place of Mr. S.N. Subrahmanyan (DIN: 02255382), who retires by rotation, and being eligible, has offered himself for re-appointment.
    23 for0 against
  • To approve, Re-appointment of Mr. Nachiket Deshpande (DIN: 08385028), as a Whole-time Director of the Company.
    1 for0 against
  • To approve, Transactions with Larsen & Toubro Limited, Holding Company (Related Party Transactions).
    1 for0 against
  • To consider and adopt the Audited Consolidated Financial Statements of the Company for the year ended March 31, 2024 and the report of the Auditor thereon.
    22 for0 against
  • To consider and adopt the Audited Standalone Financial Statements of the Company for the year ended March 31, 2024 and the reports of the Board of Directors and Auditor thereon.
    23 for0 against
  • To declare a final dividend of ₹ 45/- per equity share of face value of ₹ 1/- each for the Financial Year 2023-24.
    1 for0 against
  • To declare a final dividend of Rs. 45/- per equity share of face value of Rs. 1/- each for the Financial Year 2023 - 24.
    22 for0 against
  • To enter into and/ or continue to enter into contract(s)/ transaction(s) with Larsen and Toubro Limited (Holding Company), a Related Party within the meaning of Section 2(76) of the Companies Act, 2013 and Regulation 2(1)(zb) of the SEBI Listing Regulations, in the nature of a) sale, purchase, lease or supply of goods or business assets or property or equipment b) availing or rendering of services including the use of Trademark, and availing Corporate guarantee to provide to LTIMindtree customers, etc and c) transfer of any resources, services or obligations to meet business objectives/requirements (Related Party Transactions), upto an amount of Rs. 2,000 crore, valid from the date of the 28th Annual General Meeting until the conclusion of 29th Annual General Meeting to be held in calendar year 2025.MoreLess
    22 for0 against

Mutual fund votes, meeting of 1 Dec 2023, 1 fund house

  • 1. Approval for amendment of LTIMindtree Employee Stock Option Scheme 2015 2. Modification for grant of loan to LTIMindtree Employee Welfare Trust
    Against quant Mutual Fund
    • quant Mutual FundRes 1, 2 Vote: AGAINST Explanation: Compliant with the law. Governance and transparency concern: Lack of clarity regarding exercise price and maximum potential benefits that can be passed to the identified employees. Hence, we vote against the said resolutions.
    0 for1 against

Mutual fund votes, meeting of 30 Nov 2023, 29 fund houses

  • Item 1, as a fund house numbered it
    Against Taurus Mutual Fund
    • Taurus Mutual FundThe proposed changes include i) enabling trust route for administration of the scheme and ii) extension of termination date until termination by the board or the date on which all options available under the scheme have been issued and exercised, whichever is earlier. The amendments are operational in nature. However, while the scheme was approved via postal ballot in 2016, there was no clarity on the exercise price of the options. In the past, the company has issued stock options under the current scheme at face value, which represents a deep discount to the market price. We do not favour ESOP schemes where there is no clarity on the exercise price or where the options can be granted at a discount of more than 20% to the market price. ESOPs are ‘pay at risk’ options that employees accept at the time of grant, which is protected if the ESOPs are issued at significant discount to the market price. If the stock options are granted at a significant discount, there is no alignment between the interests of investors and those of employees. We do not support the resolution.
    0 for1 against
  • Item 2, as a fund house numbered it
    Against Taurus Mutual Fund
    • Taurus Mutual FundThe company seeks shareholder approval for providing loan to the trust to purchase shares. The quantum of the loan will not exceed 5% of the aggregate of the paid-up share capital and free reserves of the company. Our recommendation is linked to resolution #1.
    0 for1 against
  • 1) Approve modification to LTIMindtree Employee Stock Option Scheme 2015 (LTIM ESOP 2015).
    1 for0 against
  • 2) Approve provision of money to LTIMindtree Employee Welfare Trust for purchase of shares under the LTIMindtree Employee Stock Option Scheme 2015 (LTIM ESOP 2015).
    1 for0 against
  • Amend LTIMindtree Employee Stock Option Scheme 2015
    2 for0 against
  • Approval for amendment of LTIMindtree Employee Stock Option Scheme 2015.
    Against 360 One Mutual Fund, Axis Mutual Fund, Bandhan Mutual Fund, Bank of India Mutual Fund, HDFC Mutual Fund, Invesco Mutual Fund, JM Financial Mutual Fund, Kotak Mahindra Mutual Fund, Motilal Oswal Mutual Fund, Nippon India Mutual Fund, NJ Mutual Fund, PGIM India Mutual Fund, Quantum Mutual Fund
    • 360 One Mutual Fund, Axis Mutual Fund, Bank of India Mutual FundThe proposed changes include i) enabling trust route for administration of the scheme and ii) extension of termination date until termination by the board or the date on which all options available under the scheme have been issued and exercised, whichever is earlier. The amendments are operational in nature. However, while the scheme was approved via postal ballot in 2016, there was no clarity on the exercise price of the options. In the past, the company has issued stock options under the current scheme at face value, which represents a deep discount to the market price. We do not favour ESOP schemes where there is no clarity on the exercise price or where the options can be granted at a discount of more than 20% to the market price. ESOPs are ‘pay at risk’ options that employees accept at the time of grant, which is protected if the ESOPs are issued at significant discount to the market price. If the stock options are granted at a significant discount, there is no alignment between the interests of investors and those of employees. We do not support the resolution.
    • Bandhan Mutual Fund, JM Financial Mutual Fund, Motilal Oswal Mutual Fund, PGIM India Mutual Fund, Quantum Mutual FundCompliant with Law. Governance and Transparency Concern: Lack of clarity regarding Exercise Price and Maximum Potential Benefits that can be passed to Identified Employees.
    • HDFC Mutual FundThere is lack of disclosure or clarity on the pricing formula or exercise price at which the ESOP will be granted
    • Invesco Mutual FundThe proposed changes include i) enabling trust route for administration of the scheme and ii) extension of termination date until termination by the board or the date on which all options available under the scheme have been issued and exercised, whichever is earlier. The amendments are operational in nature. However, while the scheme was approved via postal ballot in 2016, there was no clarity on the exercise price of the options. In the past, the company has issued stock options under the current scheme at face value, which represents a deep discount to the market price. We do not favour ESOP schemes where there is no clarity on the exercise price or where the options can be granted at a discount of more than 20% to the market price. ESOPs are ‘pay at risk’ options that employees accept at the time of grant, which is protected if the ESOPs are issued at significant discount to the market price. If the stock options are granted at a significant discount, there is no alignment between the interests of investors and those of employees. We do not support the resolution
    • Kotak Mahindra Mutual FundThe amendments are operational in nature, however, there is no clarity on the exercise price of the options. In the past, the company has issued stock options under the current scheme at face value, which represents a deep discount to the market price. We do not favour ESOP schemes where there is no clarity on the exercise price or where the options can be granted at a discount of more than 20% to the market price. ESOPs are pay at risk options that employees accept at the time of grant, which is protected if the ESOPs are issued at significant discount to the market price. If the stock options are granted at a significant discount, there is no alignment between the interests of investors and those of employees. Hence voting against .
    • Nippon India Mutual FundInadequate disclosure
    • NJ Mutual FundInadequate Disclosures.
    10 for13 against
  • Approve Modification for Grant of Loan to LTIMindtree Employee Welfare Trust
    2 for0 against
  • Approve modification to LTIMindtree Employee Stock Option Scheme 2015 (LTIM ESOP 2015)
    Against Sundaram Mutual Fund
    • Sundaram Mutual FundThe proposed changes include i) enabling trust route for administration of the scheme and ii) extension of termination date until termination by the board or the date on which all options available under the scheme have been issued and exercised, whichever is earlier. The amendments are operational in nature. However, while the scheme was approved via postal ballot in 2016, there was no clarity on the exercise price of the options. In the past, the company has issued stock options under the current scheme at face value, which represents a deep discount to the market price. We do not favour ESOP schemes where there is no clarity on the exercise price or where the options can be granted at a discount of more than 20% to the market price. ESOPs are ‘pay at risk’ options that employees accept at the time of grant, which is protected if the ESOPs are issued at significant discount to the market price. If the stock options are granted at a significant discount, there is no alignment between the interests of investors and those of employees. We do not support the resolution.
    1 for1 against
  • Approve provision of money to LTIMindtree Employee Welfare Trust for purchase of shares under the LTIMindtree Employee Stock Option Scheme 2015 (LTIM ESOP 2015)
    Against Sundaram Mutual Fund
    • Sundaram Mutual FundThe company seeks shareholder approval for providing loan to the trust to purchase shares. The quantum of the loan will not exceed 5% of the aggregate of the paid-up share capital and free reserves of the company. Our recommendation is linked to resolution #1.
    1 for1 against
  • Modification for grant of loan to LTIMindtree Employee Welfare Trust.
    Against 360 One Mutual Fund, Axis Mutual Fund, Bandhan Mutual Fund, Bank of India Mutual Fund, HDFC Mutual Fund, Invesco Mutual Fund, JM Financial Mutual Fund, Kotak Mahindra Mutual Fund, Motilal Oswal Mutual Fund, Nippon India Mutual Fund, NJ Mutual Fund, PGIM India Mutual Fund, Quantum Mutual Fund
    • 360 One Mutual Fund, Axis Mutual Fund, Bank of India Mutual Fund, Invesco Mutual FundThe company seeks shareholder approval for providing loan to the trust to purchase shares. The quantum of the loan will not exceed 5% of the aggregate of the paid-up share capital and free reserves of the company. Our recommendation is linked to resolution #1.
    • Bandhan Mutual Fund, JM Financial Mutual Fund, Motilal Oswal Mutual Fund, PGIM India Mutual Fund, Quantum Mutual FundCompliant with Law. Governance and Transparency Concern: Lack of clarity regarding Exercise Price and Maximum Potential Benefits that can be passed to Identified Employees.
    • HDFC Mutual FundThere is lack of disclosure or clarity on the pricing formula or exercise price at which the ESOP will be granted
    • Kotak Mahindra Mutual FundThe company seeks shareholder approval for providing loan to the trust to purchase shares. The quantum of the loan will not exceed 5% of the aggregate of the paid-up share capital and free reserves of the company. Since the ESOP scheme proposed by the company has no clarity on the exercise price or the options are granted at a heavy discount of more than 20% to the market price, voting against .
    • Nippon India Mutual FundInadequate disclosure
    • NJ Mutual FundInadequate Disclosures.
    10 for13 against

Each fund house counted once, from its own disclosure; the reasons are its own words.

Fines and tax disputes

Reported in the filing for the quarter to Jun 2026.

  • Fine or penaltyAgenzia dell Entrate - ItalySince 29 Apr 2026

    Penalty for omission in payment of stamp duty on journal and inventory books for FY2024

  • Tax disputeUnion of India, Through its Secretary, Department of Revenue, Ministry of Finance, Government of India, Central Secretariat, North Block, New Delhi - 110 001. The Principal Commissioner of Central Tax, The Joint Commissioner of Central Tax, 7, GST Commissionerate, Bengaluru East, having office at BMTC Bus Stand, Old HAL Airport Road, Dommaluru, Bengaluru-560071Since 31 Jan 2024
    It is hereby informed that the Hon’ble High Court of Karnataka has adjudicated the matter in favour of the Company and order copy received by the Company on 7 April 2026 which had a total Tax demand of INR 1,105 crore (excluding applicable interest and penalty).MoreLess
    At the filing before: This disclosure is in continuation to our earlier intimations dated April 25, 2024, August 27, 2024 and December 17, 2024 informing the Exchanges about the writ petitions filed by the Company before the Hon’ble High Court of Karnataka in connection with proceedings initiated u/s 74 of the CGST Act, 2017/KGST Act, 2017 by the office of the Principal Commissioner of Central Tax, BengaluruMoreLess

In the company's own words, from its latest governance filing.

Investor complaints and compliance

Quarter by quarter.

Investor complaints received and resolved, the company's own count

  • Received
  • Resolved

Open at the quarter's end

At most 2 complaints open, quarter to Jun 2026.
The board is made up as the listing rules require
Yes
The board has a regular chairperson
Yes
The company has a risk management committee
Yes
The chair is related to the managing director
No
The filing has a part on fines and penalties
Yes
The filing has a part on tax disputes
Yes
There was a cyber security incident in the quarter
No

The company's own answers in its filing.