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Revenues seen at Rs33,000 crore, PAT at Rs2,980 crore


Outcome date: 12th Might, 2022
Suggestion: Purchase
Goal worth: Rs2,260
Supply: IIFL Analysis
 

Larsen & Toubro (L&T) witnessed EPC order inflows between Rs9,000-22,000 crore (ex-services phase) in the course of the March 2022 quarter. These inflows encompassed segments of railway, hydrocarbon, energy T&D, water remedy, heavy engineering and buildings & factories. Wholesome order influx is commendable given the difficult macro surroundings.

Firm is all set to submit 11% development in its standalone income as in comparison with the year-ago quarter.

Improved execution might drive 10% development in EBITDA and maintain EBITDA margin steady.

Revenue After Tax (PAT) is prone to develop at a quicker tempo in comparison with income, and shall be pushed by decrease outgo in the direction of curiosity expense and taxes.

Vital administration insights to be careful for:

·         Commentary on order inflows, execution tempo

·         Traits into working capital and money movement administration

 








Rs Crore

March 2022 estimates

YoY change

QoQ change

Income

33,000

11.1%

53.4%

EBITDA

3,956

9.5%

129.0%

Revenue After Tax

2,980

20.6%

78.7%

Supply: Brokerage stories



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