L&T - Q2 FY13 Results First Cut - Microsec

L&T announced its Q2 FY13 results on 22 October 2012.

Q2 FY13 Result Analysis

The company's Total Income increased by 17% YOY to INR13195 crore YOY and it's EBITDA increased by 20% YOY to INR1405 crore. EBITDA Margin of the company increased from 10.4% to 10.7% YOY. Adjusted PAT increased by 15% YOY to INR915 crore. PAT incl EO increased by 42% to INR1137 crore YOY. Order intake came at INR20968 crore (up 30%). Its total order book stood at INR158528 crore as on 30th Sep 2012.The company has delivered better than expected results in terms of Order intake, margin and PAT. At the CMP INR1660, the stock discounts its FY13E EPs of INR83.5 by 19.8x.

We maintain Accumulate at the stock at the current level.

Source : Equity Bulls

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