Larsen & Toubro sees COVID second wave as a blip, not a derailment
Despite impact of second wave of COVID-19, the company has guided for 13-15 percent revenue growth in FY22 as it thinks the present crisis is short term and its impact would be lesser
May 17, 2021 / 10:15 AM IST
PRO Only Highlights
Quarterly performance largely backed by improved realisations
Medium-term triggers China plus and protectionist measures for tyre industry
Valuations not inexpensive; but improved medium-term outlook
India’s largest engineering and construction company, Larsen & Toubro (CMP: Rs 1,416, M Cap: Rs 198,815 crore) has indicated that most of the pain caused by the second wave of COVID-19 would be seen in the first quarter of the current fiscal. From the second half, things should improve, considering that compared to last year, the economy and industrial activities are still much better.
However, there are certain issues to bother. Labour availability at sites have come down to about...