L&T Q1 Results Review - Good Start To The Year: Motilal Oswal

NDTV Profit’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 NDTV Profit’s subscribers an opportunity to expand their understanding of companies, sectors and the economy..Motilal Oswal Report.Larsen and Toubro Ltd.’s Q1 FY25 results were 3% ahead of our estimates on both revenue and profit after tax. The company reported 15%/15%/12% YoY growth in revenue/Ebitda/PAT on a consolidated basis. In a seasonally weak quarter, core engineering and construction revenues and Ebitda also grew by 18%/21% YoY, with core E&C margins improving by 10 basis points to 7.6%. Both core E&C revenue and margin beat our estimates. Core E&C revenue growth was largely driven by sharp improvement in overseas revenue, while domestic revenue was flat YoY due to elections, labor shortage and heat waves. Order inflows/order book were up by 8%/19% YoY, mainly driven by international geographies. The order prospect pipeline was down by 10% YoY at Rs 9.1 trillion due to a drop in hydrocarbon prospects. Net working capital remained low at 13.9% of sales. We maintain our estimates and target price of Rs 4,150 based on SOTP, valuing core business at 30 times P/E on June-26E earnings per share and 25% holding company discount for subsidiaries. .Click on the attachment to read the full report:.L&T Warns Of Infrastructure Slowdown Amid Skilled Labour Shortage.DISCLAIMERThis report is authored by an external party. NDTV Profit 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 NDTV Profit..Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

L&T Q1 Results Review - Good Start To The Year: Motilal Oswal

Domestic revenue growth was affected by elections and labor issues, and the brokerage expects it to revive sharply only during H2 FY25.

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L&T Q1 Results Review - Good Start To The Year: Motilal Oswal

Domestic revenue growth was affected by elections and labor issues, and the brokerage expects it to revive sharply only during H2 FY25.

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