L&T Q4 Results Review - Miss On Margins; Order Book At Record High: Yes Securities

BQ Prime’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BQ Prime’s subscribers an opportunity to expand their understanding of companies, sectors and the economy. .Yes Securities Report.Larsen and Toubro Ltd. reported a mixed set of numbers with 10% YoY revenue growth on the back of decent performance of the hi-tech manufacturing, energy projects and information and technology and technology services business. During Q4, the company recorded order inflow of Rs 761 billion, up 3% YoY on a high base led by large order wins from sectors such as public spaces, hydel and tunnels, irrigation systems, ferrous metals, oil and gas, power transmission and distribution and defence. Order book stands at all-time high of Rs 4 trillion (2.2 times trailing twelve months revenues) providing a strong revenue visibility for next two-three years. Management indicated that order pipeline for FY24 stands healthy at ~Rs 9.73 trillion with good traction witnessed in sectors such as metros/regional rapid transit system/high speed rail, roads and expressways, water, renewables, non-ferrous metals and power transmission and distribution. On the international front, with pickup in economic activity in GCC led by high crude prices, management is witnessing good traction in order inflows in both oil and non-oil segments. We believe that L&T is well-placed to emerge stronger given its financial, technical and managerial capability for sustaining and gaining market share. We remain positive on the company’s strong business model, robust bid pipeline, diversified order book and healthy balance sheet..Click on the attachment to read the full report:.L&T Q4 Results: Profit Rises 10.9% On Higher Sales, Project Execution.DISCLAIMERThis report is authored by an external party. BQ Prime does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BQ Prime..Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

L&T Q4 Results Review - Miss On Margins; Order Book At Record High: Yes Securities

Order book stands at all-time high of Rs 4 trillion providing a strong revenue visibility for next two-three years.

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