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Larsen & Toubro

₹3464.3 14.2 | 0.4%

Market Cap ₹476249 Cr.

Stock P/E 36.6

P/B 7.4

Current Price ₹3464.3

Book Value ₹ 468.6

Face Value 2

52W High ₹3859.7

Dividend Yield 0.98%

52W Low ₹ 2168.7

Larsen & Toubro Research see more...

Overview Inc. Year: 1946Industry: Engineering - Construction

Larsen & Toubro Limited is engaged in engineering, procurement and construction (EPC) projects offerings. It presents solar photo voltaic (PV) based power plant supporting customers save on the electricity bills and contribute to the reduction of GHG emissions from intake of oblique electricity. Its segments consist of Infrastructure, that is engaged in engineering and construction of buildings and factories, transportation infrastructure and heavy civil infrastructure; Power, which offers solution for totally coal-based and primarily gasoline-based thermal energy plants; Heavy Engineering, which manufactures and resources custom designed, engineered essential device and structures; Defense Engineering, that's engaged in designing, development, serial manufacturing and supporting of gadget, structures and structures of defense and aerospace sectors, and Other section includes communication tasks, marketing and servicing of construction and mining equipment and elements.

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Larsen & Toubro Share Price

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Quarterly Price

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Larsen & Toubro Quarterly Results

#(Fig in Cr.)
Net Sales
Other Income
Total Income
Total Expenditure
Operating Profit
Interest
Depreciation
Exceptional Income / Expenses
Profit Before Tax
Provision for Tax
Profit After Tax
Adjustments
Profit After Adjustments
Adjusted Earnings Per Share

Larsen & Toubro Profit & Loss

#(Fig in Cr.) Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 TTM
Net Sales 51611 56599 57017 63177 65724 74463 82287 82384 87255 101000 110501
Other Income 2026 2105 2404 2411 2180 4762 3273 3442 3882 4025 5746
Total Income 53637 58704 59421 65589 67904 79224 85561 85825 91137 105025 116247
Total Expenditure 46175 50023 50490 57210 59300 69645 74914 75854 79080 91963 102539
Operating Profit 7462 8680 8932 8379 8604 9579 10647 9971 12057 13061 13708
Interest 1056 1208 1579 1686 1525 1698 2070 2592 2769 2148 2504
Depreciation 728 792 1008 997 1215 1049 1000 1021 1151 1173 1372
Exceptional Income / Expenses 254 589 357 560 894 431 1642 627 -2819 267 0
Profit Before Tax 5932 7268 6701 6256 6758 7262 9219 6986 5319 10009 9833
Provision for Tax 1548 1775 1645 1256 1304 1875 2271 961 2171 2129 1984
Profit After Tax 4384 5493 5056 5000 5454 5387 6948 6025 3147 7879 7849
Adjustments 526 0 0 0 0 0 543 654 8650 0 0
Profit After Adjustments 4911 5493 5056 5000 5454 5387 7491 6679 11798 7879 7849
Adjusted Earnings Per Share 31.7 39.5 36.3 35.8 39 38.4 49.5 42.9 22.4 56.1 55.8

Growth Rates

# 1 Year 3 Year 5 Year 10 Year
Sales CAGR 9% 10% 8% 8%
Operating Profit CAGR 5% 11% 7% 6%
PAT CAGR -0% 9% 8% 6%
# 1 Year 3 Year 5 Year 10 Year
Share Price CAGR 58% 35% 19% 13%
ROE Average 11% 10% 11% 13%
ROCE Average 14% 13% 14% 16%

Larsen & Toubro Balance Sheet

#(Fig in Cr.) Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Shareholder's Funds 29143 33662 37085 42135 46013 49174 50048 52175 61738 67114 71528
Minority's Interest 0 0 0 0 0 0 0 0 0 0 0
Borrowings 7271 5478 8509 8312 7134 5495 3772 7186 16647 12968 9391
Other Non-Current Liabilities 1030 803 827 294 278 182 -262 -613 72 -288 -737
Total Current Liabilities 34980 38362 42027 48723 48528 60354 70259 80013 80705 87567 89705
Total Liabilities 72424 78305 88448 99465 101953 115206 123818 140128 159161 167362 170885
Fixed Assets 8305 7675 7487 7268 6648 6466 8211 7350 8757 8524 9187
Other Non-Current Assets 14825 19459 22078 25105 25206 29338 24548 37143 35159 36821 37157
Total Current Assets 49248 51115 58827 67091 69711 79014 91017 92855 115245 122018 122200
Total Assets 72424 78305 88448 99465 101953 115206 123818 140128 159161 167362 170885

Larsen & Toubro Cash Flow

#(Fig in Cr.) Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Opening Cash & Cash Equivalents 1906 1457 1794 2765 2078 1938 3188 2724 3443 3525 5718
Cash Flow from Operating Activities 2116 1047 3118 3300 5980 2952 2556 -121 9561 5999 7264
Cash Flow from Investing Activities 465 -1214 -1884 -1522 -46 1787 1585 -6834 -2723 4526 -1753
Cash Flow from Financing Activities -2990 504 -1437 -2464 -6073 -3489 -4606 7419 -6698 -8360 -7441
Net Cash Inflow / Outflow -410 337 -203 -687 -140 1250 -464 464 140 2164 -1930
Closing Cash & Cash Equivalent 1496 1794 1591 2078 1938 3188 2724 3187 3525 5718 3802

Larsen & Toubro Ratios

# Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Earnings Per Share (Rs) 31.67 39.51 36.26 35.78 38.97 38.44 49.53 42.91 22.41 56.08 55.84
CEPS(Rs) 36.92 45.21 43.49 42.92 47.65 45.93 56.66 50.18 30.6 64.42 65.6
DPS(Rs) 18.5 14.25 16.25 18.25 21 16 18 18 36 22 24
Book NAV/Share(Rs) 207.17 239.26 263.67 299.83 327.53 350.11 356.03 370.93 438.93 477.03 508.38
Core EBITDA Margin(%) 10.41 11.5 11.34 9.35 9.69 6.46 8.96 7.93 9.37 8.95 7.21
EBIT Margin(%) 13.39 14.83 14.39 12.45 12.49 12.01 13.72 11.63 9.27 12.04 11.16
Pre Tax Margin(%) 11.37 12.71 11.64 9.8 10.19 9.73 11.2 8.48 6.1 9.91 8.9
PAT Margin (%) 8.4 9.61 8.78 7.83 8.23 7.22 8.44 7.31 3.61 7.8 7.1
Cash Profit Margin (%) 9.79 11 10.54 9.4 10.06 8.63 9.66 8.55 4.93 8.96 8.34
ROA(%) 6.18 7.29 6.06 5.32 5.42 4.96 5.81 4.57 2.1 4.83 4.64
ROE(%) 16.41 17.73 14.44 12.71 12.43 11.35 14.04 11.81 5.53 12.25 11.34
ROCE(%) 19.15 20.43 17.43 14.98 14.71 15.41 18.54 13.68 9.85 14 13.93
Receivable days 144.51 140.96 141.38 120.17 107.05 104.79 113.4 124.33 128.1 125.9 114.78
Inventory Days 13.43 12.92 13.49 12.09 10.23 10.43 12.97 13.56 11.81 10.86 10.84
Payable days 220.65 204.98 217.21 250.51 302.17 324.42 345.53 376.31 376.44 354.75 314.42
PER(x) 19.16 21.47 31.6 22.66 26.99 34.13 27.94 18.8 63.3 31.52 38.76
Price/Book(x) 2.93 3.55 4.35 2.7 3.21 3.75 3.89 2.18 3.23 3.71 4.26
Dividend Yield(%) 1.36 1.12 0.95 1.5 1.33 1.22 1.3 2.23 2.54 1.24 1.11
EV/Net Sales(x) 1.77 2.26 3 1.96 2.35 2.55 2.41 1.64 2.52 2.6 2.88
EV/Core EBITDA(x) 12.25 14.7 19.17 14.76 17.92 19.84 18.65 13.55 18.21 20.07 23.19
Net Sales Growth(%) -2.93 9.66 0.74 10.8 4.03 13.3 10.51 0.12 5.91 15.75 9.41
EBIT Growth(%) -1.26 21.29 -2.31 -4.09 4.3 8.17 26 -15.16 -15.55 50.3 1.48
PAT Growth(%) -1.62 25.29 -7.95 -1.12 9.08 -1.22 28.98 -13.29 -47.76 150.36 -0.39
EPS Growth(%) -2.1 24.77 -8.22 -1.33 8.91 -1.35 28.85 -13.36 -47.78 150.27 -0.42
Debt/Equity(x) 0.31 0.34 0.35 0.33 0.23 0.22 0.24 0.5 0.4 0.3 0.25
Current Ratio(x) 1.41 1.33 1.4 1.38 1.44 1.31 1.3 1.16 1.43 1.39 1.36
Quick Ratio(x) 1.35 1.28 1.35 1.34 1.4 1.27 1.25 1.13 1.39 1.36 1.32
Interest Cover(x) 6.62 7.01 5.24 4.71 5.43 5.28 5.45 3.7 2.92 5.66 4.93
Total Debt/Mcap(x) 0.11 0.1 0.08 0.12 0.07 0.06 0.06 0.23 0.12 0.08 0.06

Larsen & Toubro Shareholding Pattern

# Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024
Promoter 0 0 0 0 0 0 0 0 0 0
FII 22.93 22.13 20.81 21.77 22.94 24.12 24.94 25.34 25.11 23.99
DII 32.49 33.28 34.39 40.24 39.53 38.43 37.82 36.98 37.13 37.82
Public 43.23 43.3 43.49 36.69 36.22 36.19 36.02 36.43 36.46 36.81
Others 1.35 1.3 1.32 1.29 1.32 1.26 1.22 1.25 1.3 1.37
Total 100 100 100 100 100 100 100 100 100 100

Pros

  • Debtor days have improved from 354.75 to 314.42days.
  • Company has reduced debt.

Cons

  • Promoter holding is low: 0%.
  • Company has a low return on equity of 10% over the last 3 years.
  • Stock is trading at 7.4 times its book value.
  • The company has delivered a poor profit growth of 7% over past five years.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Larsen & Toubro News

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