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L&T Q2 Results Review - Growth Outlook Buoyant But Valuations Have Little Room To Re-Rate: Centrum Broking

While growth outlook remains buoyant, E&C business valuations at 19.7x/16.4x FY24E/25E EPS do not leave much room for upside.

<div class="paragraphs"><p>A man waits at a bus-stop with an advertisement of L&amp;T outside the company's manufacturing unit in Mumbai. (Photo: Danish Siddiqui/Reuters)</p></div>
A man waits at a bus-stop with an advertisement of L&T outside the company's manufacturing unit in Mumbai. (Photo: Danish Siddiqui/Reuters)
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