Discover and learn about Larsen and Toubro Q2 Results, Share Price, Long Run Benefits and much more at PrimeNewsly.
Share with social media
Larsen and Toubro reported a 45% increase in overall net profit for the quarter ending September 30, 2023, to Rs 3,223 Crore, aided by strong demand in its key infrastructure projects area. In the previous fiscal year, it reported a combined net profit of Rs 2,229 Crore.
The revenue from operations of the infrastructure firm climbed 19% to Rs 51,024 Crore in Q2FY24, up from Rs 42,763 Crore the previous year. The company reported "improved execution of the large order book and accelerated progress in the Projects and Manufacturing portfolio" in the third quarter. International revenues accounted for 43% of overall revenue during the quarter, at Rs 21,898 Crore.
During the quarter ended September 30, 2023, the business received orders of Rs 89,153 Crore at the group level, representing a 72% increase year on year. International orders totaled Rs 59,687 Crore during the quarter, accounting for 67% of total order inflow.
Larsen and Toubro (L&T) declared a total net profit of Rs 3,223 crore for the quarter ending September 2023 on Tuesday. This is 45% higher than the Rs 2,229 crore reported in the same period the previous year.
The profit was more than the Rs 2,858 crore predicted by the ET Now poll.
Consolidated sales increased 19% to Rs 51,024 crore in the second quarter, principally due to enhanced execution of the huge order book and rapid progress in the projects and manufacturing portfolio.
During the quarter ended September 2023, the business received orders worth Rs 89,153 crore at the group level, representing a 72% year-on-year increase.
The significant order inflows came from a variety of areas, including onshore hydrocarbon verticals, urban transit systems, transmission and distribution, and residential and commercial spaces.
During the quarter ended September 2023, the segment reported customer revenues of Rs 24,613 crore, a 27% increase year on year.
On receipt of several significant value orders across the various sub-segments, it secured order inflows of Rs 27,990 crore, up 12% year on year.
Energy sales were Rs 6,788 crore in the second quarter, up 22% year on year. Inflows of orders were Rs 40,141 crore, pushing the segment's order book beyond Rs 1 lakh crore for the first time.
EBITDA margins increased to 9.5% in the reporting quarter, owing mostly to cost savings in select hydrocarbon projects and a favorable balance of job progress in electricity projects.
Revenues in the segment increased by 30% year on year to Rs 1,886 crore, with orders totaling Rs 2,395 crore during the quarter. Export sales accounted for 30% of overall income.
For the quarter ended September, IT & Tech Services revenue increased by 7% to Rs 11,182 crore. The combined revenue of the two listed subsidiaries (LTIMindtree and L&T Tech) was $1.36 billion, representing a 4% increase.
During the quarter, the segment earned Rs 3,084 crore, a 2% decrease year on year. In the second quarter, the overall loan book was 78,734 crore, compared to Rs 80,893 crore in March 2023. This difference is mostly due to ARC sell-downs, wholesale prepayments/repayments, and the run-down of the de-focused loan book.
"Given recent geopolitical developments, we remain cautiously optimistic in the near term." "However, we anticipate continued buoyancy in services and the Indian government's emphasis on capex," said SN Subrahmanyan, Chairman and MD of L&T.
For the fiscal year ending March 2023, L&T FINANCE HOLDINGS paid a dividend of 20.00%. L&T FINANCE HOLDINGS' dividend payout per share was Rs 2.0.
L&T FINANCE HOLDINGS has paid an average dividend of 08.00% during the last five years. Furthermore, the dividend per share has averaged Rs 00.0.
L&T FINANCE HOLDINGS's end-of-year dividend yield is 2.44%.
For the fiscal year, the dividend payout ratio was -77.23%.The 5-year average is -8.69%.
With strong tender prospects, better order conversion in the domestic market, significant traction in hydrocarbon and renewable energy orders from international markets such as Saudi Arabia, and an expected increase in private capex in the domestic market, brokerage firm Prabhudas Lilladher believes L&T is well-positioned to benefit in the long run.
"Currently, the stock is trading at a PE of 30.3x/25.7x/22.1x FY24/25/26E. "We revise our FY24/25E by 6.1%/5% to reflect improved Hyderabad Metro performance, a strong order book, and tender prospects," stated the brokerage.
Prabhudas Lilladher maintained a 'Buy' rating on the stock and increased the target price to 3,437 per share from 3,302 previously, valuing the core business at 24x Sep'25E.
1. L&T Finance Holdings Ltd's revenue increased by 5.43% as compared to last year to 3,482.07Cr in Q2 2023-2024.
2. The L&T Employees Welfare Foundation is the company's largest stakeholder, owning around 8.63% of its shares.
3. Larsen & Toubro (L&T) plans to increase income and order inflows by 2025-26 under a five-year strategy plan called Lakshya'26.
4. Larsen & Toubro Ltd announced a 45% increase in consolidated net profit to Rs 3,223 crore for the fiscal quarter ending September 30, 2023.
5. L&T Construction is one of the world's leading contractors. Buildings and Factories, Transportation Infrastructure, Heavy Civil Infrastructure, Smart World & Communication, Water & Renewable Energy, and Power Transmission & Distribution are all part of the company.
ALSO READ:
L&T India Careers is not only one of the highest-rated firms in India in terms of construction and engineering, but the company was also named to Forbes' list of the top 2000 most powerful and largest public enterprises in terms of profits, revenues, market values, and assets.
Sekharipuram Larsen & Toubro's Chairman and Managing Director is Narayanan Subrahmanyan (born March 16, 1960).
ALSO READ:
Larsen & Toubro's Consolidated Revenues for the fiscal year ending March 31, 2023 were 183,341 Crore.
From today, investors will be able to bet on the Indegene IPO. Investors will have the opportunity to bet on this IPO until May 8. The Rs 1, 841.76 crore IPO comprises fresh issuance of shares worth up to Rs 750 crore,
Bharti Hexacom IPO: The total size of Bharti Hexacom IPO is Rs 4,275 crore. Through this IPO, the company will sell 7.5 crore shares. You can invest in this IPO from 3 to 5 April.
Explore the SRM Contractors IPO GMP, Lot Size, Price, and Date at PrimeNewsly. There is good news for investors looking at GMP. The SRM Construction IPO will open next week. The company has raised Rs 39 crore from anchor investors.