Rs 4.5 trillion order book: This multibagger infrastructure giant bags multiple new order worth more than Rs 7,500 crore; reports impressive quarterly results!
The stock has gained more than 20 per cent in the last 6 months.
Larsen & Toubro (L&T) is a major technology, engineering, construction, manufacturing and financial services conglomerate, with global operations. L&T Construction's Water and effluent Treatment Business has secured repeat orders from the Odisha and Madhya Pradesh governments for mega lift irrigation projects. The Odisha projects, spanning 19 lift irrigation schemes, will irrigate 28,944 hectares across three districts. The Madhya Pradesh project will irrigate 34,942 hectares in Dewas District. Both projects include establishing distribution networks, power systems, and operation and maintenance for 15 years. The order is expected to be between Rs 1000 to Rs 2,500 crores.
Recently, L&T Construction has been awarded a prestigious project to construct the Bhogapuram International Airport in Andhra Pradesh. The project will initially handle 6 million passengers per annum and will be expandable to 12 million. The key development works include cut & fill works, terminal works, airfield development, landside facilities, utilities, and other support facilities. The project is expected to be between Rs 2,500 to Rs 5,000 crores.
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The company reported robust Quarterly Results for Q2FY24, with revenue increasing 19.32 per cent YoY to Rs 51,024.04 crore. Operating profit and PAT grew 18.36 per cent and 36.76 per cent YoY to Rs 8,173.45 crore and Rs 3,855.55 crore, respectively.
The company's order book stood at Rs 4.5 trillion as of September 2023, up 22 per cent from September 2022. Domestic orders accounted for 65 per cent of the order book, while international orders accounted for 35 per cent. The stock has delivered multibagger returns of over 200 per cent in the last three years.
Investors should keep a close eye on this stock.
Disclaimer: The article is for informational purposes only and not investment advice.
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