L&T Q4 Review - Resilient Operating Performance: Dolat Capital

The logo of Larsen & Toubro Ltd. is displayed during a news conference at the company's headquarters in Mumbai, India. (Photographer Kuni Takahashi/Bloomberg)

L&T Q4 Review - Resilient Operating Performance: 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. delivered resilient operational performance with Ebitda growth of 25% YoY.

Sales grew 8.7% YoY, in line with our/consensus estimates as core (excluding-services) and services sales growth of 10% / 5% YoY respectively.

Ebitda was 13% / 16% ahead of our / consensus estimates with margin expansion of 171 basis points YoY at 13.3%.

Notably, the core Ebit margin stood at 11.7, 80bps up YoY.

Adjusted profit after tax came in at Rs 34 billion (down 2.3% / up 12.3% versus our / consensus estimates) due to higher tax rate and higher depreciation caused by metro capitalization.

Click on the attachment to read the full report:

Dolat Capital Larsen & Toubro Q4FY21 Result Update.pdf


This report is authored by an external party. BloombergQuint does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BloombergQuint.

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