BQ Blue'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 BloombergQuint's subscribers an opportunity to expand their understanding of companies, sectors and the economy.
Motilal Oswal Report
Larsen and Toubro Ltd.'s adjusted profit after tax grew 56% YoY and was 5% ahead of our estimate.
Core engineering and construction Ebitda grew 18% YoY and was 17% above our estimate, led by margin expansion in the infrastructure segment.
L&T's management has maintained its revenue guidance of ~15%, order inflow guidance of 10-15%, and a stable core E&C margin on a YoY basis.
International prospects are looking robust across segments, including hydrocarbon, power transmission and distribution, water, etc., thanks to higher oil prices.
Domestic E&C order inflows were disappointing with H1 FY22 order inflows remaining at 55% of H1 FY20 levels.
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