L&T Q3 Review - Improving Execution, Strong Order Book: Dolat Capital 
Larsen & Toubro (L&T) employees work in the heavy engineering division in Hajira, India. (Photographer: Prashanth Vishwanathan/Bloomberg News)

L&T Q3 Review - Improving Execution, Strong Order Book: Dolat Capital 

BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

Dolat Capital Report

Larsen and Toubro Ltd.’s Q3 execution indicates ongoing improvement as labor availability has fully normalised. Order inflows were strong at Rs 732 billion and order book continues to be robust at Rs 3.31 trillion.

Working capital, at 26.2% sales, while high, is seen from the perspective of the lower revenue base in nine-month.

The company remains cautious and continues to withhold guiding on FY21 on inflows or execution, though they view Q4 positively, with further anticipated improvement in execution.

On the order front, there is a pipeline of Rs 2.65 trillion in Q4.

Click on the attachment to read the full report:

Dolat Capital Larsen and Toubro Q3FY21 Result Update.pdf

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