Views on Larsen & Toubro 4QFY2014 results - Angel Broking

Views of Mr. Amit Patil (Research Analyst, Angel Broking) on Larsen & Toubro 4QFY2014 results:

"For 4QFY2014, Larsen & Toubro's (L&T) reported flat yoy growth in top-line to Rs. 20,079cr. Infrastructure segment reported robust growth of 17.6% yoy to Rs. 13,539cr. However, power segment reported a sharp decline of 29.1% yoy to Rs. 1,472cr, due to declining order book. On the EBITDA front, the company reported robust margin expansion of 237bp yoy to 14.5% on account of efficient project execution and favorable job mix. Consequently, adjusted profit grew by 26.6% yoy to Rs. 2,239cr in 4QFY2014. Net profit has been adjusted for exceptional gain of Rs. 484cr on account of stake sale in subsidiary company. The company has a robust order backlog of Rs. 1, 63,000cr at the end of FY2014. Further, the management is confident of achieving 20% yoy growth in order intake in FY2015. We maintain our positive stance on the company."

Shares of LARSEN & TOUBRO LTD. was last trading in BSE at Rs.1688.7 as compared to the previous close of Rs. 1679.4. The total number of shares traded during the day was 170208 in over 13457 trades.

The stock hit an intraday high of Rs. 1700 and intraday low of 1673.6. The net turnover during the day was Rs. 286883840.

Source : Equity Bulls

Keywords