27 Jan 2023 , 04:55 PM
Result date: 30th January, 2023
Recommendation: Buy
Target price: Rs 2,279
Source: IIFL Research
Larsen & Toubro (L&T) is likely to post healthy growth in revenue during the December 2022 quarter. The capital goods giant could register order inflow of Rs 600 billion, up 19% over the year-ago quarter on the back of three large orders of Sabarmati Depot, Arcelor Mittal steel expansion and lift water irrigation projects.
The company could register 18% growth in its EBITDA as compared to the year-ago quarter. Elevated input cost inflation could affect margins during the quarter. The company though could witness reduction in interest cost post restructuring of debt pertaining to the Hyderabad metro project.
Profit After Tax or PAT could grow 30.1% over the year-ago quarter.
Important management insights to watch out for:
Rs. Million |
December 2022 estimates |
YoY change |
QoQ change |
Revenue |
454,787 |
14.8% |
6.3% |
EBITDA |
53,196 |
17.5% |
8.6% |
Profit After Tax |
26,615 |
30.1% |
19.4% |
Source: Brokerage reports
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