Quote on Larsen and toubro Ltd 1QFY22 Result By Mr. Amarjeet Maurya, Angel Broking Ltd
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Below is quote on Larsen and toubro -1QFY22 Result by Mr. Amarjeet Maurya, AVP - Mid Caps, Angel Broking Ltd
For 1QFY2022, Larsen and toubro Ltd (L&T)’s consolidated top-line reported growth of ~38% yoy to Rs29,335cr on back of healthy execution of projects despite the second wave of Covid-19 affecting operations at many locations.The International revenues during the quarter at Rs11,186cr constituted ~38% of the total revenue.
On the operating profit front, the company has reported ~Rs3,171cr, grew by ~96%. L&T reported operating margin improvement (up by 319bp yoy to 10.8%) due to lower cost. On the consolidated bottom-line front, L&T reported growth of ~182% yoy to Rs1,532cr due to healthy sales growth and operating performance.
The Company bagged orders worth Rs26,557cr at the Group level during the quarter ended June 30, 2021 registering a growth of 13% over corresponding period of the previous year. During the quarter, orders were received in various segments like Metros, Rural Water Supply, Minerals and Metal, Residential, Power Transmission and Distribution, Power and Hydrocarbon Offshore sectors. International orders at Rs9,045cr during the quarter comprised ~34% of the total order inflow. The consolidated order book of the group was at Rs3,23,721cr on June 30, 2021, with international orders at 20% of the total order book.
The Company's focus continues to be on efficient execution of its large order book, working capital reduction, cost optimization through use of digital technologies aimed at operational efficiencies and driving an agile Balance Sheet. Overall 1Q results were in line with expectation. We are positive on stock.
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