Q4FY21 Result Update - Larsen & Toubro - ICICI Direct

L&T's adjusted standalone revenues (ex-E&A business) for the quarter grew 9.2% YoY to Rs. 29754.1 crore (vs. our estimate of Rs. 29159 crore). On a standalone basis, infrastructure segment revenue (contributing ~83%) grew 2.9% to Rs. 24765 crore YoY owing to job mix and site productivity, though execution improved sequentially due to higher work force mobilisation and supply chain normalisation. On a consolidated basis, adjusted revenues from continuing operations on a like-to-like basis grew 8.7% to Rs. 48087.8 crore YoY. During the quarter, standalone EBITDA margins improved 240 bps to 12.1% (vs. our estimate of 10.5%) YoY owing to job mix and cost control initiatives. On a consolidated basis, EBITDA margins came in at 13.3% (vs. 11.6% in Q4FY20).

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Shares of LARSEN & TOUBRO LTD. was last trading in BSE at Rs.1386.85 as compared to the previous close of Rs. 1415.5. The total number of shares traded during the day was 322723 in over 14313 trades.

The stock hit an intraday high of Rs. 1441.05 and intraday low of 1368.5. The net turnover during the day was Rs. 450070326.

Source : Equity Bulls

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