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2025-01-17 12:16:35 pm | Source: Motilal Oswal Financial Services Ltd Ltd
Buy Larsen & Toubro Ltd For Target Rs. 4,300 by Motilal Oswal Financial Services Ltd
Buy Larsen & Toubro Ltd For Target Rs. 4,300 by Motilal Oswal Financial Services Ltd

* We expect consolidated revenue growth of 20% YoY, led by 24% YoY revenue growth for Core E&C.

* We expect Core E&C EBITDA margin of 8.1%, up 40bp YoY/50bp QoQ.

* Key monitorables include domestic order pipeline, margin performance, as well as working capital cycle. Notably, the company has bagged thermal and defense orders in 3QFY25, allaying concerns on domestic ordering.

* We would also look out for execution ramp-up in Saudi projects and trend in the GCC order pipeline.

 

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