ADVERTISEMENT
Shares of construction major Larsen & Toubro tanked as much as 6% in opening trade on Thursday after the company’s 8.3% margin guidance for the ongoing fiscal prompted some analysts to cut price targets.
Jefferies slashed its price target for L&T to ₹3,970 from ₹4,135. The brokerage says that the company's 15% revenue growth guidance for the financial year 2024-25 is low compared with the orders it won in FY24. Jefferies, however, retained its ‘Buy’ rating on the stock.
CLSA retained its 'Buy' rating on L&T but reduced the target price to ₹4,151 per share from ₹4,260 earlier.
The L&T stock fell 5.6% to hit a low of ₹3,290 on the BSE.
Net profit of the company grew 10% year-on-year to ₹4,396 crore for the quarter ended March. For fiscal 2024, the company posted a consolidated profit of ₹13,059 crore, registering a growth of 25% compared to the previous year.
October 2025
As India’s growth story gains momentum and the number of billionaires rises, the country’s luxury market is seeing a boom like never before, with the taste for luxury moving beyond the metros. From high-end watches and jewellery to lavish residences and luxurious holidays, Indians are splurging like never before. Storied luxury brands are rushing in to satiate this demand, often roping in Indian celebs as ambassadors.
Larsen & Toubro achieved consolidated revenues of ₹221,113 crore for the year ended March 31, 2024, recording a growth of 21%, facilitated by a strong execution of a large order book in the projects & manufacturing businesses. International revenues during the year at ₹95,086 crore constituted 43% of the total revenues largely led by a ramp up in execution of multiple international projects.
For the quarter ended March 31, 2024, consolidated revenues grew 15% to ₹67,079 crore. The share of international revenues during the quarter was 45%.
The Board of Directors recommended a final dividend of ₹ 28 per equity share.
The Company received orders worth ₹302,812 crore at the group level during the year ended March 31, 2024, registering a robust y-o-y growth of 31%. During the year, orders were received across multiple segments. International orders at ₹163,112 crore during the year comprised 54% of the total order inflow with higher ordering momentum witnessed in GCC countries.
The order inflow for the quarter ended March 31, 2024 stood at ₹ 72,150 crore, registering a marginal de-growth of 5% over the corresponding quarter of the previous year. Domestic order inflow grew by 17% as compared to the corresponding quarter of the previous year. International orders at ₹ 25,217 crore constituted 35% of the total. The consolidated order book of the group as on March 31, 2024, is at ₹ 475,809 crore, registering growth of 20% over the previous year, with the share of international orders at 38%.
“The year has concluded on a very strong note for us. We have secured Order Inflows of more than ₹3 lakh crore and Order Book is around ₹ 4.75 lakh crore,” says S.N. Subrahmanyan, chairman and managing director, L&T.
“In addition to the special dividend of ₹6 per share paid to our equity shareholders during the year, we are recommending a final dividend of ₹ 28 per share for the financial year 2023-24,” says Subrahmanyan.
Fortune India is now on WhatsApp! Get the latest updates from the world of business and economy delivered straight to your phone. Subscribe now.