Larsen & Toubro Ltd Share Price – NSE  /  BSE

Infrastructure Developers & Operators, Mid Cap

The key equity benchmarks ended near the flat line with some negative bias on Thursday, falling for the fifth day in a row. The Nifty settled near the 24,400 level after hitting day’s low of 24,210.80 in early trade. Oil & gas, auto and pharma stocks advanced while metal, banking and consumer durables shares declined. Trading was volatile due to the expiry of monthly index options on the NSE.

As per provisional closing, the barometer index, the S&P BSE Sensex, was down 109.98 points or 0.14% to 80,039.80. The Nifty 50 index shed 7.40 points or 0.03% to 24,406.10.

In the broader market, the S&P BSE Mid-Cap index fell 0.22% and the S&P BSE Small-Cap index shed 0.14%.

The market breadth was positive. On the BSE, 2,118 shares rose and 1,795 shares fell. A total of 110 shares were unchanged.

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, soared 7.26% to 12.62.

Buzzing Index:

The Nifty Metal index declined 1.29% to 9,148. The index shed 0.06% in the past consecutive trading session.

Welspun Corp (down 4.73%), Hindustan Zinc (down 3.85%), Jindal Steel & Power (down 3.03%), Steel Authority of India (down 2.57%), Ratnamani Metals & Tubes (down 1.96%), APL Apollo Tubes (down 1.86%), Tata Steel (down 1.81%), National Aluminium Company (down 1.12%), NMDC (down 0.84%) and JSW Steel (down 0.8%) declined.

Stocks in Spotlight:

Larsen & Toubro (L&T) advanced 2.94% after the EPC major's consolidated net profit rose 11.74% to Rs 2,785.72 crore on 15.12% increase in revenue from operations to Rs 55,119.82 crore in Q1 FY25 over Q1 FY24.

Axis Bank tumbled 5.18%. The bank reported 4.1% rise in standalone net profit to Rs 6,034.64 crore on 16.97% increase in total income to Rs 35,844.22 crore in Q1 FY25 over Q1 FY24.

Nestle India declined 2.63%. The FMCG major's net profit rose 6.91% to Rs 746.6 crore on 3.34% increase in revenue from operations to Rs 4,813.95 crore in Q1 FY25 over Q1 FY24.

SBI Life Insurance Company gained 3.54% after the company reported 36.34% surge in net profit to Rs 519.52 crore in Q1 FY25 from Rs 381.04 crore posted in Q1 FY24. Total income was at Rs 34,392.05 crore in the quarter ended 30 June 2024, registering a growth of 24.2% year on year (YoY).

Ashok Leyland shed 0.32% after the company reported 6.39% fall in consolidated net profit to Rs 509.15 crore in Q1 FY25 as compared with Rs 543.89 crore in Q1 FY24. Revenue from operations rose 10.66% year on year (YoY) to Rs 10,724.49 crore in the quarter ended June 2024.

Karnataka Bank added 1.14% after the private lender's net profit increased 7.99% to Rs 400.33 crore in Q1 FY25 as against Rs 370.70 crore recorded in Q1 FY24. Total income advanced 12.02% to Rs 2,557 crore in the quarter ended 30 June 2024.

Jyothy Labs rallied 7.72% after the household products maker reported 5.65% rise in consolidated net profit to Rs 101.73 crore on 7.96% increase in revenue from operations to Rs 741.81 crore in Q1 FY25 over in Q1 FY24.

Craftsman Automation slipped 2.20% after the company reported 28.6% fall in consolidated net profit to Rs 53.19 crore in Q1 FY25 from Rs 74.48 crore in Q1 FY24. Net sales increased by 10.9% year-over-year (YoY) to Rs 1,151.19 crore in the first quarter of 2024-25.

Global Markets:

European and Asian stocks tumbled on Thursday as investors took a breather from the AI-fueled rally that has propelled stocks higher this year. Japan and South Korea both saw declines of over 2%, with chipmaker SK Hynix Inc. leading the downturn despite strong earnings.

The US market suffered a significant setback, with the S&P 500 plunging 2.3% — its worst day since December 2022. This marked the end of the longest period without a 2% drop since the 2008 financial crisis. The tech-heavy Nasdaq 100 plummeted 3.64%, dragged down by its largest components. Alphabet Inc. fell 5% after revealing higher-than-expected spending on its AI initiatives. Tesla Inc.'s stock plunged 12% following a disappointing profit report and delay of its robotaxi service. Nvidia Corp. also dropped 6.8%. The slump in the Magnificent Seven tech giants triggered a broad market sell-off. The Dow Jones Industrial Average also declined 1.25%.

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The company achieved revenue growth with robust execution witnessed in the Projects & Manufacturing (P&M) portfolio on the back of a large order book. International revenues during the quarter stood at Rs 26,248 crore constituted 48% of the total revenues.

Profit before tax grew by 7.95% year on year to Rs 4,676.65 crore in quarter ended 30 June 2024.

EBITDA in Q1 FY25 was at Rs 5,615 crore, up 15% from Rs 4,869 crore reported in Q1 FY24. EBITDA margin remained constant at 10.2% in Q1 FY25 as compared to Q1 FY24.

L&T received orders worth Rs 70,936 crore at the group level during the quarter ended 30 June 2024, registering a YoY growth of 8% aided by the strong ordering momentum in the Middle East.

During the quarter, orders were received across multiple segments like offshore vertical of Hydrocarbon business, renewables, transmission & distribution, roads, nuclear power, hydel & tunnel, ferrous metals, health, and the precision engineering sectors. International orders was at Rs 32,598 crore in Q1 FY25 comprised 46% of the total order inflow.

The consolidated order book of the group as on 30 June 2024, stood at Rs 490,881 crore registering a growth of 3% over March 2024 and 19% YoY, with the share of international orders at 38%.

The Infrastructure Projects segment recorded customer revenues of Rs 26,908 ccrore for the June quarter, up 22% YoY, aided by improved execution momentum witnessed across various project sites. International revenues constituted 34% of the total customer revenues of the segment during the quarter. The segment secured order inflow of Rs 40,053 crore in Q1 FY25, which is in line with the previous year. International orders constituted 49% of the total order inflow of the segment during the quarter.

Further, the segment order book stood at Rs 324,879 crore as on 30 June 2024, with the share of international orders at 28% YoY.

The Energy Projects segment achieved customer revenues of Rs 8,495 crore in Q1 FY25, recording a growth of 27% YoY, mainly due to execution ramp up in international projects in the Hydrocarbon business. International revenues constituted 68% of the total customer revenues of the segment during the quarter.

The segment secured orders valued at Rs 8,792 crore in Q1 FY25, up 21% on YoY basis with receipt of high value orders in the domestic offshore vertical of Hydrocarbon business. International order inflow constituted 22% of the total order inflow during the quarter. The segment order book was at Rs 117,724 crore as on 30 June 2024, with the international order book constituting 76%.

The Hi-Tech Manufacturing segment recorded customer revenues of Rs 1,845 crore during the quarter, up 4% YoY, with improved execution in Precision Engineering & Systems business. International revenues constituted 23% of the total customer revenues of the segment during the quarter.

The segment bagged orders valued at Rs 3,677 crore in Q1 FY25, registering a growth of more than 100% over the previous year, with receipt of a high value order in the Precision Engineering & Systems business. Export orders constituted 8% of the total order inflow of the segment during the quarter. The order book of the segment was at Rs 33,765 crore as on 30 June 2024, with the share of export orders at 7%.

The IT & Technology Services (IT&TS) segment recorded customer revenues of Rs 11,505 crore for the quarter ended 30 June 2024, up 6% YoY, reflective of subdued global macro outlook impacting discretionary IT&TS spends. International billing contributed 92% of the total customer revenues of the segment for the June quarter. The aggregate revenues of the two listed subsidiaries (LTIMindtree and L&T Technology Services) in this segment stood at $1,391 million registered a growth of 4% YoY.

The financial services segment recorded income from operations at Rs 3,664 crore during the quarter, registering a growth of 21% YoY, mainly attributable to higher disbursements in the retail business.

The Development Projects segment reported customer revenues of Rs 1,327 crore for the quarter ended 30 June 2024, up 3% on YoY basis.

Customer revenues of the ‘Others’ segment in Q1 FY25 was at Rs 1,375 crore registered a de-growth of 37% YoY, primarily due to lower handover of residential units in the Realty business. Export sales constituted 17% of the total customer revenues of the segment during the quarter, majorly relating to industrial valves business. “Others” segment comprises Realty, Industrial Valves, Construction Equipment & Mining Machinery and Rubber Processing Machinery.

In its outlook, L&T said, “The company retains the focus on profitable execution of its robust order book in the backdrop of a relatively stable environment. It is well positioned to exploit the emerging opportunities across the diversified business portfolio and limit exposure on non-core businesses. The Company remains committed to maximizing sustainable value to all its stakeholders.”

Larsen & Toubro (L&T) is an Indian multinational engaged in EPC Projects, hi-tech manufacturing and services. It operates in over 50 countries worldwide. A strong, customer–focused approach and the constant quest for top-class quality have enabled L&T to attain and sustain leadership in its major lines of business for eight decades.

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The company achieved revenue growth with robust execution witnessed in the Projects & Manufacturing (P&M) portfolio on the back of a large order book. International revenues during the quarter stood at Rs 26,248 crore constituted 48% of the total revenues.

Profit before tax grew by 7.95% year on year to Rs 4,676.65 crore in quarter ended 30 June 2024.

EBITDA in Q1 FY25 was at Rs 5,615 crore, up 15% from Rs 4,869 crore reported in Q1 FY24. EBITDA margin remained constant at 10.2% in Q1 FY25 as compared to Q1 FY24.

Larsen & Toubro (L&T) received orders worth Rs 70,936 crore at the group level during the quarter ended 30 June 2024, registering a YoY growth of 8% aided by the strong ordering momentum in the Middle East.

During the quarter, orders were received across multiple segments like offshore vertical of Hydrocarbon business, renewables, transmission & distribution, roads, nuclear power, hydel & tunnel, ferrous metals, health, and the precision engineering sectors. International orders was at Rs 32,598 crore in Q1 FY25 comprised 46% of the total order inflow.

The consolidated order book of the group as on 30 June 2024, stood at Rs 490,881 crore registering a growth of 3% over March 2024 and 19% YoY, with the share of international orders at 38%.

The Infrastructure Projects segment recorded customer revenues of Rs 26,908 ccrore for the June quarter, up 22% YoY, aided by improved execution momentum witnessed across various project sites. International revenues constituted 34% of the total customer revenues of the segment during the quarter. The segment secured order inflow of Rs 40,053 crore in Q1 FY25, which is in line with the previous year. International orders constituted 49% of the total order inflow of the segment during the quarter.

Further, the segment order book stood at Rs 324,879 crore as on 30 June 2024, with the share of international orders at 28% YoY.

The Energy Projects segment achieved customer revenues of Rs 8,495 crore in Q1 FY25, recording a growth of 27% YoY, mainly due to execution ramp up in international projects in the Hydrocarbon business. International revenues constituted 68% of the total customer revenues of the segment during the quarter.

The segment secured orders valued at Rs 8,792 crore in Q1 FY25, up 21% on YoY basis with receipt of high value orders in the domestic offshore vertical of Hydrocarbon business. International order inflow constituted 22% of the total order inflow during the quarter. The segment order book was at Rs 117,724 crore as on 30 June 2024, with the international order book constituting 76%.

The Hi-Tech Manufacturing segment recorded customer revenues of Rs 1,845 crore during the quarter, up 4% YoY, with improved execution in Precision Engineering & Systems business. International revenues constituted 23% of the total customer revenues of the segment during the quarter.

The segment bagged orders valued at Rs 3,677 crore in Q1 FY25, registering a growth of more than 100% over the previous year, with receipt of a high value order in the Precision Engineering & Systems business. Export orders constituted 8% of the total order inflow of the segment during the quarter. The order book of the segment was at Rs 33,765 crore as on 30 June 2024, with the share of export orders at 7%.

The IT & Technology Services (IT&TS) segment recorded customer revenues of Rs 11,505 crore for the quarter ended 30 June 2024, up 6% YoY, reflective of subdued global macro outlook impacting discretionary IT&TS spends. International billing contributed 92% of the total customer revenues of the segment for the June quarter. The aggregate revenues of the two listed subsidiaries (LTIMindtree and L&T Technology Services) in this segment stood at $1,391 million registered a growth of 4% YoY.

The financial services segment recorded income from operations at Rs 3,664 crore during the quarter, registering a growth of 21% YoY, mainly attributable to higher disbursements in the retail business.

The Development Projects segment reported customer revenues of Rs 1,327 crore for the quarter ended 30 June 2024, up 3% on YoY basis.

Customer revenues of the ‘Others’ segment in Q1 FY25 was at Rs 1,375 crore registered a de-growth of 37% YoY, primarily due to lower handover of residential units in the Realty business. Export sales constituted 17% of the total customer revenues of the segment during the quarter, majorly relating to industrial valves business. “Others” segment comprises Realty, Industrial Valves, Construction Equipment & Mining Machinery and Rubber Processing Machinery.

In its outlook, L&T said, “The company retains the focus on profitable execution of its robust order book in the backdrop of a relatively stable environment. It is well positioned to exploit the emerging opportunities across the diversified business portfolio and limit exposure on non-core businesses. The Company remains committed to maximizing sustainable value to all its stakeholders.”

Larsen & Toubro (L&T) is an Indian multinational engaged in EPC Projects, hi-tech manufacturing and services. It operates in over 50 countries worldwide. A strong, customer–focused approach and the constant quest for top-class quality have enabled L&T to attain and sustain leadership in its major lines of business for eight decades.

Shares of Larsen & Toubro shed 0.54% to Rs 3,519.40 on the BSE.

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Net profit of Larsen & Toubro rose 11.74% to Rs 2785.72 crore in the quarter ended June 2024 as against Rs 2493.00 crore during the previous quarter ended June 2023. Sales rose 15.12% to Rs 55119.82 crore in the quarter ended June 2024 as against Rs 47882.37 crore during the previous quarter ended June 2023.

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