Dear Shareholders,

With the creation of LTIMindtree, we have taken a significant leap forward in the industry-acclaimed profitable growth journeys of erstwhile LTI and erstwhile Mindtree. We are well-positioned to grow and nurture a powerful new brand that straddles a rich combined heritage of nearly five decades and a thriving future of value creation as an at-scale player with end-to-end transformational capabilities spanning businesses, experiences, technologies, and operations.

LTIMindtree combines erstwhile LTI’s and Mindtree’s engineering and experience DNAs, blending their problem-solving and digital-first strengths into a unique value proposition that spans core to experience to edge. Central to our ability to lead from the frontlines is our high-performance culture, which guides each one of us to be constantly driven by a greater purpose, acting with compassion, being future-ready, and delivering impact. Our cutting-edge talent operates with a mindset of continuous improvement, innovation, and integrity and remains truly and deeply invested in LTIMindtree and its bold vision.

In today’s dynamic business environment, where businesses seek strategic partners who can help drive agility and efficiency while unlocking opportunities for reimagining business models and revenue streams, LTIMindtree brings the diversity of scale and digital capabilities required to challenge the status quo and drive transformation.

Unlocking greater value through collaboration

To us, collaboration is much more than just a nice-sounding idea. It is a mindset and a way of life. As the newest company to join the elite league of top-tier IT services companies, LTIMindtree is about building progressive, win-win collaborations with all key stakeholders – clients, partners, investors, employees, and communities – and about translating the collective force of those collaborations into a bigger, brighter, bolder future for all stakeholders.

We have enabled our clients to take digital deeper into their organizations, become data-driven, and adapt to market changes, technology, and consumer expectations. We have helped them unlock their full organizational potential by unifying their human and digital workforce and aligning their technology and operations with their business ambitions. By rising above traditional – often blinkered – sectoral approaches to products and services, we have driven clear-cut business outcomes for them with next-generation delivery capabilities and comprehensive, integrated solutions that boost differentiation, agility, and time-to-value.

Our partners continue to play a critical role in driving our success. Through stronger collaboration and expansion across more clients, verticals, and regions, we drove greater client consumption and stickiness. In addition, we broadened and deepened our pool of certified professionals, creating more opportunities for growth and success for all involved.

Our employees are the backbone of our organization, and we remain committed to providing them with diverse career avenues, skilling, and work opportunities through an expanded portfolio of clients, verticals, technologies, and markets. Through several engagement, learning, and mentorship initiatives, inclusive policies, and measurement of progress, we have accelerated their professional growth and continue to foster a winning culture of innovation, collaboration, and excellence.

Through enhanced collaboration with our clients, partners, and employees, we will pave the way to delivering sustained value to all our stakeholders.

LTIMOne: The new way to create customer value

Embracing the ever-changing landscape of the future requires a unique combination of vision, creativity, and agility. This is where LTIMindtree comes in - helping individuals, businesses, and societies not just stay afloat, but thrive by studying tomorrow's needs, ideas, and breakthroughs today, and helping them get to the future, faster. Our organization functions as a unified whole - a single global partnership held together by a solid foundation of shared values. As we embark into FY24, our LTIMOne framework, with its four pillars of Culture, GTM Strategy, Unified Capability, and Profitable Growth Model, will be key to achieving this goal. By building upon the strengths of the individual entities and leveraging synergies through the combination, we will sharpen our end-to-end offering capabilities and take it to all our clients with a clear GTM strategy while preserving our distinct culture and profitable growth model.

Ongoing commitment to sustainability and giving back

In an era characterized by intricate environmental predicaments and mounting commercial and societal demands, embracing sustainability represents an ethical as well as a strategic imperative. At LTIMindtree, we continue to pursue excellence in managing our environmental impact and caring for our people, customers, and communities.

We remain committed to creating a sustainable future through our conscientious and forward-thinking approach. Our inclusive vision promotes shared growth and positive value creation for all stakeholders. From conserving resources through our renewable energy capability and green tech interventions, to caring in myriad ways for communities, to driving greater diversity and inclusion in our ways of working, we are proud of how well we have woven sustainability into our business to make a positive difference.

That we were recently named by The Economic Times as one of the ‘Best Organizations for Women 2023’ and recognized for ‘Most Innovative Practices’ at the DivHERsity Awards 2023 validates our sustained efforts at building an inclusive environment where every individual feels valued, respected, and empowered, regardless of gender and other differences.

We believe progress is driven by shared values, equity, empowerment, and enablement, supported by strong governance, ethical practices, and integrity. Our impact on societies can be seen in our sustained focus and environmental initiatives aligned with the United Nations Sustainable Development Goals. As an organization that plays for the long run, we remain dedicated to strengthening our sustainability practices and creating a responsible future for all.

The road ahead

As cloud, data, and digital become critical for every organization, we aspire to be the driving force behind companies' technological transformation journeys, helping them reimagine outcomes and stay ahead in a complex and convergent digital landscape. We would like to be seen as a partner large enough to take on the most complex of their transformational aspirations, and small enough to do so with the appetite and agility of a start-up.

While we observe a cautious approach towards technology spend across sectors on account of macroeconomic dynamics, the overall focus on driving technology-led innovation to prepare for future opportunities holds a significant long-term upside for our full-stack, end-to-end capabilities, and our deep industry domain exposure. As you may recall, this was the key rationale behind the merger.

To this end, we are pleased with the conversations we are having with clients across markets. Our increased scale has started creating enormous cross-sell and up-sell opportunities, paving the way for our elevation as a Tier-1 partner for our existing clients and a serious contender for strategic partnerships with new clients. We are confident in delivering enhanced value through the cross-pollination of learnings and capabilities across our expanded portfolio.

We remain excited about the opportunities that FY24 presents, despite the challenges in the near term. With our strong foundation of shared values and our LTIMOne framework, we are confident that we will be able to capitalize on the significant opportunities available in the market to help businesses get to the future, faster.

We look forward to your continued trust and support in powering the next phase of our growth journey.

Regards,

Debashis Chatterjee
CEO and Managing Director