L&T Q1 Review – Tendering Pipeline Remains Robust: Prabhudas Lilladher

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Prabhudas Lilladher Report

Larsen and Toubro Ltd. reported healthy set of numbers led by execution pick-up across segments along with cost rationalisation measures, resulting into margin expansion (up 319 basis points y-o-y).

Delay in tendering and awarding activity resulted in orders inflow coming in at ~Rs 266 billion in Q1 FY22.

Order book stands strong at Rs 3.2 trillion (2.2 times trailing twelve months revenues).

L&T’s management indicated strong bid pipeline at Rs 8.96 trillion, largely from Infra and hydrocarbon.

With good ordering traction from segments such as metros, rural water supply, minerals and metal, power, transmission and distribution and hydrocarbon offshore, management maintained its guidance of low to mid teen order inflows and revenue growth for FY22.

Click on the attachment to read the full report:

Prabhudas Lilladher L&T Q1FY22 Result Update.pdf


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