- L&T posted better Order inflows than expectations in Q3 on back of strong international order wins. Order book grew at a decent 9% YoY.
- L&T lost Rs.25-30bn of revenue due to execution issues in AP, Maharashtra & NCR, but revenue growth is still expected to be 12-15% as these issues are on the verge of being resolved.
- Execution has improved and order inflows in Q4 would improve due to strong ordering prospects of around Rs.3tn (Domestic Rs.2.5tn/Int. Rs.0.5tn).
- L&T remains the leading player in its industry. Stock is now trading at ~16x adjusted core P/E v/s historical average of 19x
Disclaimer: The above report is compiled from information available on public platforms. inChat team advises users to check with certified experts before taking any investment decisions.
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