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L&T after Q4 Results | What should investors do now: Buy, sell or hold the stock?

Consolidated revenue from operations rose 10 percent on-year to Rs 52,851 crore for the reported quarter, missing analysts' expectations.

May 13, 2022 / 10:01 AM IST
Larsen & Toubro

Larsen & Toubro

 
 
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Larsen & Toubro (L&T) share price rose intraday on May 13 - a day after the company reported its March quarter earnings.

Larsen & Toubro on May 12 reported a 10 percent year-on-year rise in consolidated net profit at Rs 3,621 crore, which was below analysts' expectations.

The infrastructure giant's consolidated revenue from operations rose 10 percent on-year to Rs 52,851 crore for the reported quarter, missing analysts' expectations.

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Here is what brokerages have to say about stock and the company post March quarter earnings:

Jefferies

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Foreign research house Jefferies maintained buy rating and cut target price to Rs 2,215 from Rs 2,525 per share.

The revenue & EBITDA was 6 percent and 11 percent below expectations, while E&C execution missed at 9 percent YoY growth versus estimate of 19 percent.

The FY22 order flow is 10 percent YoY growth versus 13-17 percent guidance.

Jefferies look forward to execution & margin recovery in FY23and lower FY23-25 EPS estimates by 4-7 percent, reported CNBC-TV18.

Sharekhan

L&T reported decent performance despite global headwinds, supply chain challenges and a rise in commodity prices. Healthy order inflow guidance and optimistic management commentary on the order prospects going forward gives us comfort.

International outlook too looks buoyant with a pick-up in crude oil prices. On the longer term, L&T remains at the forefront to reap benefits from the AtmaNirbhar Bharat scheme with its diversified businesses across sectors such as defence, infrastructure, heavy engineering, and IT.

The company remains the best proxy for domestic capex and an improving business environment. We maintain a Buy rating on the stock with a revised SOTP-based price target (PT) of Rs. 1,970 factoring downward revision in valuation of key IT & Technology Services and finance subsidiaries and reduction in valuation multiple for the core business.

At 9:42am, Larsen & Toubro was quoting at Rs 1,545.40, up Rs 21.05, or 1.38 percent on the BSE.

Disclaimer: The views and investment tips expressed by investment experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.



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Moneycontrol News
first published: May 13, 2022 10:01 am
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