Phillip Capital Research

Y/E Mar, Rs mn	FY11	FY12	FY13	FY14E	FY15E
Price					1452
Target					1850
Reco					BUY
Net Sales	434,958	531,707	516,110	565,990	621,239
Growth (%)		22	-3	10	10
EBIDTA	56,023	62,828	54,699	66,671	70,459
EBITDA Margin		12	11	12	11
Net Profit	36,052	44,017	41,334	49,047	48,210
Growth (%)		22	-6	19	-2
EPS, Rs	47	47	45	53	52
PER, x	30.6	30.6	32.6	27.4	28.1
EV/EBIDTA, x	24	22	25	21	20
P/BV, x	5	5	5	4	4
ROE, %	17	17	14	15	13
Total debt/Equity (%)	-8.6	4.8	-0.1	16.7	11.2

Latest Reports

Date

Description

Country

Analyst

Download

31-Oct-2023

Larsen & Toubro Q2FY24: Order accretion & execution pace continue to impress (Maintain BUY

India

Umesh Raut

26-Jul-2023

Larsen & Toubro Q1FY24: Order accretion & execution pace continue to impress (Maintain BUY)

India

Umesh Raut

10-May-2023

Larsen & Toubro Q4FY23: Riding the strong momentum in capex cycle (Maintain BUY)

India

Umesh Raut

30-Jan-2023

Larsen & Toubro Q3FY23: Strong delivery on order inflows, execution & cash flows (Maintain BUY)

India

Umesh Raut

01-Nov-2022

Larsen & Toubro Q2FY23: Well played on all fronts but for core margins (Maintain BUY

India

Umesh Raut

27-Jul-2022

Larsen & Toubro (LT IN) Q1 FY23 Result Update - Robust order inflow; Upbeat outlook

India

Umesh Raut

13-May-2022

Larsen & Toubro (LT IN) 4QFY22 Result Update - Resilient performance

India

Umesh Raut

29-Jan-2022

Larsen & Toubro (LT IN) Q3 FY22 - In-line Operational Performance

India

Sandesh Shetty

27-Jul-2021

Larsen & Toubro (LT IN) - Progressive improvement in execution and orders is the key

India

Jonas Bhutta

15-May-2021

Larsen & Toubro (LT IN) - In-line results, grounded commentary and undemanding valuations

India

Jonas Bhutta

26-Jan-2021

Larsen & Toubro (LT IN) - Strong order inflows outshine subdued core operating performance

India

Jonas Bhutta

29-Oct-2020

Larsen & Toubro (LT IN) - In-line performance overshadowed by write off’s and poor cash distribution

India

Jonas Bhutta

23-Jul-2020

Larsen & Toubro (LT IN) - Resilient performance in a challenging environment

India

Jonas Bhutta

07-Jun-2020

Larsen & Toubro (LT IN) : Result review - Stable 4Q, best placed to manage the turbulence

India

Jonas Bhutta

19-Mar-2020

Larsen & Toubro (LT IN) - Lot of unknowns weigh down valuations

India

Jonas Bhutta

23-Jan-2020

Larsen & Toubro (LT IN): Q3FY20 Result review - Orders surprise = No cut in guidance, contrary to expectations

India

Jonas Bhutta

23-Oct-2019

Larsen & Toubro (LT IN): Q2FY20 Result review - Strong results in a backdrop of tough environment

India

Jonas Bhutta

11-May-2019

Larsen & Toubro (LT IN) Q4FY19: Weak margins spoil an otherwise decent show

India

Jonas Bhutta

19-Mar-2019

Larsen & Toubro (LT IN): Mindtree – Near-term challenges before it yields material benefits

India

Jonas Bhutta

28-Jan-2019

Larsen & Toubro (LT IN) - Q3FY19 result review: Well played on all fronts but for margins

India

Jonas Bhutta

01-Nov-2018

Larsen & Toubro (LT IN) - Q2FY19: Shines on all parameters and we get constructive; upgrade to Buy

India

Jonas Bhutta

26-Jul-2018

Larsen & Toubro (LT IN) : 1QFY19 result review - Sustaining the operational performance of 1Q will be a challenge

India

Jonas Bhutta

29-May-2018

Larsen & Toubro (LT IN) Q4FY18: In line results; current orders momentum is a positive

India

Jonas Bhutta

01-Feb-2018

Larsen & Toubro (LT IN) Q3FY18 result review: Is the strong domestic show in Q3 sustainable?

India

Jonas Bhutta

13-Nov-2017

Larsen & Toubro (LT IN) Q2FY18 result review: Quality of earnings surprise was poor

India

Jonas Bhutta

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