Larsen & Toubro Post Impressive Numbers, PAT Up By 69%

L&T recorded gross revenue of Rs 57164 crore for the year ended 31 March, 2014, registering a growth of 10% over the previous year. The international revenue during the year came in at Rs 9129 crore, which constituted 16% of the total revenue and registered a YoY growth of 22%. For the current quarter, the gross revenue stood at Rs 20229 crore, showing a YoY growth of 11% with progress on various jobs under execution.

The company successfully secured fresh orders worth Rs 94108 crore during the year ended 31 March, 2014, registering a significant YoY growth of 15% on a large base despite a sluggish economic environment during 2013-14. The international order inflow during the year grew more than three times on YoY basis to Rs 30752 crore. Major orders during the year were procured by the infrastructure segment. The order intake during the quarter ended 31 March, 2014 was steady at Rs 26737 crore.

The EBITDA margin of the company stood at 14.4% in Q4FY14 as against 11.8% in Q4FY13, showing a variance of 2.6%. For the complete year, the EBITDA margin for FY14 stood at 11.8% as against 10.6% in FY13. The order book of the company grew by 13% on YoY basis at Rs 162952 crore. The international order book constituted 21% of the total order book. PAT for the year came in at Rs 5493 crore as against Rs 4384 crore in FY13. On the other hand, PAT for the current quarter showed an impressive increase of 69% to reach Rs 2723 crore in Q4FY14.

The Board of Directors has recommended a dividend of Rs 14.25 per equity share. Given its large order book, the company is optimistic to maintain its growth momentum in the medium term, a domestic and global economic environment improves.