Larsen & Toubro Ltd

Larsen & Toubro Ltd

₹ 3,543 -1.59%
16 Apr - close price
About

Larsen & Toubro Ltd is a multinational conglomerate which is primarily engaged in providing engineering, procurement and construction (EPC) solutions in key sectors such as Infrastructure, Hydrocarbon, Power, Process Industries and Defence, Information Technology and Financial Services in domestic and international markets.[1]

Key Points

Business segments
[1]

  • Market Cap 4,87,107 Cr.
  • Current Price 3,543
  • High / Low 3,860 / 2,168
  • Stock P/E 52.2
  • Book Value 432
  • Dividend Yield 0.68 %
  • ROCE 13.9 %
  • ROE 11.7 %
  • Face Value 2.00

Pros

  • Company has been maintaining a healthy dividend payout of 41.7%

Cons

  • Stock is trading at 8.21 times its book value
  • The company has delivered a poor sales growth of 8.21% over past five years.
  • Earnings include an other income of Rs.5,798 Cr.

* 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.

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023
19,620 34,525 13,109 21,288 25,665 37,439 20,212 25,770 27,785 36,734 26,931 28,151 31,601
17,756 30,527 12,083 19,586 23,565 33,570 18,666 23,862 25,469 33,210 25,057 26,230 29,142
Operating Profit 1,864 3,998 1,026 1,702 2,100 3,870 1,546 1,908 2,317 3,524 1,873 1,921 2,459
OPM % 10% 12% 8% 8% 8% 10% 8% 7% 8% 10% 7% 7% 8%
1,296 469 670 1,548 924 703 568 1,554 833 1,080 1,256 2,236 1,226
Interest 568 487 467 424 415 441 504 579 508 534 547 584 630
Depreciation 240 331 260 290 287 308 342 338 335 357 379 416 438
Profit before tax 2,351 3,649 969 2,536 2,322 3,824 1,267 2,546 2,307 3,713 2,204 3,157 2,616
Tax % 20% 34% 23% 15% 21% 24% 28% 17% 21% 19% 19% 14% 18%
1,873 2,418 750 2,146 1,823 2,901 911 2,109 1,825 3,003 1,792 2,710 2,136
EPS in Rs 13.34 17.22 5.34 15.28 12.98 20.65 6.48 15.01 12.99 21.37 12.75 19.72 15.54
Raw PDF

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 TTM
53,112 51,539 56,525 56,942 63,177 65,724 74,463 82,287 82,384 87,255 101,000 110,501 123,417
46,728 45,964 49,725 50,293 57,004 59,186 66,678 74,545 75,444 78,869 91,867 100,527 113,639
Operating Profit 6,384 5,574 6,799 6,648 6,173 6,538 7,784 7,742 6,940 8,387 9,133 9,974 9,777
OPM % 12% 11% 12% 12% 10% 10% 10% 9% 8% 10% 9% 9% 8%
1,393 2,668 2,469 2,641 2,766 2,809 2,043 4,897 4,073 9,192 3,880 3,432 5,798
Interest 767 1,056 1,208 1,579 1,686 1,374 1,516 1,877 2,368 2,459 1,832 2,201 2,295
Depreciation 699 728 792 1,008 997 1,215 1,049 1,000 1,021 1,151 1,172 1,372 1,590
Profit before tax 6,310 6,458 7,268 6,701 6,256 6,758 7,262 9,763 7,624 13,969 10,009 9,833 11,690
Tax % 29% 24% 24% 25% 20% 19% 26% 23% 12% 16% 21% 20%
4,456 4,911 5,493 5,056 5,000 5,454 5,387 7,491 6,679 11,798 7,879 7,849 9,641
EPS in Rs 32.34 35.46 39.51 36.26 35.78 38.97 38.44 53.41 47.58 84.00 56.08 55.85 69.38
Dividend Payout % 23% 23% 24% 30% 34% 24% 42% 34% 38% 43% 39% 43%
Compounded Sales Growth
10 Years: 8%
5 Years: 8%
3 Years: 10%
TTM: 11%
Compounded Profit Growth
10 Years: 6%
5 Years: 10%
3 Years: 9%
TTM: 20%
Stock Price CAGR
10 Years: 15%
5 Years: 21%
3 Years: 38%
1 Year: 60%
Return on Equity
10 Years: 13%
5 Years: 14%
3 Years: 15%
Last Year: 12%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Sep 2023
Equity Capital 122 123 185 186 186 187 280 281 281 281 281 281 275
Reserves 25,101 29,020 33,476 36,899 41,949 45,826 48,894 49,768 51,895 61,457 66,833 71,247 59,051
9,896 8,834 11,459 12,937 13,924 10,558 10,561 11,990 25,942 24,664 20,477 18,339 27,079
32,514 34,447 33,184 36,883 43,561 45,667 55,871 62,622 63,439 73,513 80,912 82,558 81,143
Total Liabilities 67,632 72,424 78,305 86,904 99,621 102,238 115,607 124,660 141,557 159,916 168,502 172,424 167,548
7,605 8,305 7,675 7,487 7,268 7,045 6,941 8,592 7,840 9,165 9,113 9,756 10,005
CWIP 759 597 562 494 412 504 653 739 797 287 583 1,955 2,251
Investments 15,872 16,103 19,215 23,053 24,438 26,759 27,339 22,904 34,034 49,414 45,528 47,261 43,206
43,397 47,419 50,853 55,869 67,502 67,931 80,674 92,425 98,885 101,050 113,279 113,452 112,086
Total Assets 67,632 72,424 78,305 86,904 99,621 102,238 115,607 124,660 141,557 159,916 168,502 172,424 167,548

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
1,082 1,472 1,047 3,118 3,300 5,980 2,952 2,556 -121 9,561 5,999 7,264
-1,922 1,434 -1,214 -1,884 -1,522 -46 1,787 1,585 -6,834 -2,780 4,555 -1,738
1,016 -3,316 504 -1,437 -2,464 -6,073 -3,489 -4,606 7,419 -6,698 -8,360 -7,441
Net Cash Flow 175 -410 337 -203 -687 -140 1,250 -464 464 82 2,193 -1,916

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Debtor Days 129 160 139 148 110 111 112 125 124 139 131 110
Inventory Days 27 34 30 33 26 24 30 35 29 29 26 25
Days Payable 205 226 247 275 296 324 370 378 383 405 384 309
Cash Conversion Cycle -50 -32 -78 -94 -160 -190 -228 -218 -230 -237 -226 -174
Working Capital Days 28 56 70 88 82 74 71 56 86 63 42 41
ROCE % 21% 19% 18% 16% 13% 13% 14% 16% 13% 12% 13% 14%

Shareholding Pattern

Numbers in percentages

23 Recently
Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024
22.88% 22.86% 23.24% 22.42% 21.09% 22.12% 23.29% 24.48% 25.29% 25.72% 25.50% 24.36%
32.75% 33.11% 32.71% 33.49% 34.61% 40.49% 39.76% 38.64% 38.01% 37.16% 37.34% 38.08%
0.23% 0.23% 0.23% 0.23% 0.23% 0.23% 0.23% 0.23% 0.23% 0.23% 0.23% 0.23%
44.14% 43.80% 43.82% 43.86% 44.07% 37.17% 36.70% 36.65% 36.47% 36.89% 36.93% 37.33%
No. of Shareholders 13,69,37913,46,45313,84,81814,92,12415,55,96614,78,38314,18,08614,25,06414,23,20214,07,11714,54,62415,64,085

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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