Larsen & Toubro Ltd., Axis Bank Ltd. and Federal Bank Ltd. will be among the major firms to report their first-quarter earnings on Wednesday. L&T is expected to post a bottom-line print of Rs 2,639 crore and top-line of Rs 53,601 crore for the three months ended June, according to analysts' estimates compiled by Bloomberg. Axis Bank is expected to post a profit of Rs 6,510 crore and Federal Bank is expected to post a bottom line of Rs 944 crore.
Domestic order inflows were impacted by elections and intense heat conditions during the quarter. Infrastructure business that contributes around 66% to the total order book saw the domestic orders decline around 20% YoY, said R Shankar Raman, chief financial officer of L&T.
The company believes execution of close to Rs 5 lakh crore worth of orders, out of which 60% needs to be executed in India, will require three to four times the labour force at any point of time. "If I work with a labour force of 3 lakh people, I would require a database of 9 lakh people to replace when the churn happens," said Raman.
The company sees around Rs 9 lakh crore worth of order prospects in the coming years, out of which 60% is expected from domestic market and 40% from international businesses.
Larsen & Toubro received orders worth Rs 70,936 crore at the group level during the quarter ended June 30, 2024, registering a y-o-y growth of 8% aided by the strong ordering momentum in the Middle East. Consolidated order book at Rs 4.91 lakh crore, up 19% YoY, as of June.
During the quarter, orders were received across multiple segments like Offshore vertical of hydrocarbon business, renewables, transmission and distribution, roads, nuclear power, hydel and tunnel, ferrous metals, health, and the precision engineering sectors.
International orders at Rs 32,598 crore during the quarter comprised 46% of the total order inflow.
