Dolat Capital: L&T Posts In-Line Q2 Earnings With Rising Execution
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Dolat Capital Report
Larsen and Toubro Ltd.’s Q2 execution indicates gradual improvement as labor availability approached near normal by the end of the quarter.
Order inflows were decent at Rs 281 billion and order book continues to be strong at Rs 3 trillion.
Working capital, at 26.7% sales, while high, is seen from the perspective of the lower revenue base in H1.
The company remains cautious and continues to withhold guidance on FY21 on inflows or execution, though they view H2 positively.
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