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Larsen & Toubro Q4 Results 2022

12 May 2022
3 minutes

Multinational conglomerate Larsen & Toubro (L&T) posted its Q4 FY22 results on May 12, 2022.

The company reported a 59% QoQ (Quarter on Quarter) jump in its standalone Profit After Tax (PAT) to Rs 2,901 crore in the recent March quarter FY22 from Rs 1,823 crore in the previous quarter of FY22. On a YoY (Year on Year) basis, the PAT was up 18.6%, up from Rs 2,444 crore in the year ago period.

The company’s revenue from operations was up 45.8% QoQ and 8.4% YoY to Rs 37,439 crore in the quarter under review.

More about L&T Q4 Results

However, L&T’s overall expenses shot up 41% QoQ to Rs 34,318 crore. This was largely on account of a rise in the sub-contracting charges and the construction materials consumed.

The company’s operating margin was up at 10.34% in Q4 FY22 from 7.96% in the previous quarter, but down from 11.66% in the year-ago period.

The company’s Board of Directors recommended a dividend payout of Rs 22 per equity share of the face value of Rs 2 each. 

Highlights of Larsen & Toubro Quarterly Results 2022

  • Net profit up 59% QoQ, 18.6% YoY to Rs 2,901 crore in the quarter under review
  • Revenue from operations were up 45.8% QoQ and 8.4% YoY to Rs 37,439 crore in the quarter under review
  • EBITDA is up at 12.3% in the quarter under review from 11.5% in the previous quarter
  • Net worth up 4.6% YoY to Rs 6.66 lakh crore in the quarter under review from Rs 6.12 lakh crore in the year-ago period
  • Operating margin up at 10.34% in Q4 FY22 from 7.96% in the previous quarter
  • Net profit margin up at 7.75% in the quarter under review from 7.10% in the previous quarter and 7.00% in the year-ago period
  • Earnings Per Share (EPS) up at Rs 20.65 from Rs 12.98 in the previous quarter and Rs 17.40 in the year-ago period

Misses of L&T Results

  • Operating margin down to 10.34% from 11.66% in the year-ago period
  • Overall expenses shot up 41% QoQ to Rs 34,318 crore from Rs 24,324 crore in the previous quarter
  • EBITDA down to 12.3% in Q4 FY22 from 13.3% in the year-ago period

Segment-wise revenue

  • Infrastructure: Revenue up by 15.3% YoY to Rs 28,563 crore 
  • Hydrocarbon: Revenue down by 15.6% YoY to Rs 4,450 crore 
  • Power: Revenue up by 22.4% YoY to Rs 1,494 crore 
  • Heavy Engineering: Revenue down by 10.6% YoY to Rs 966 crore 
  • Defence Engineering: Revenue down by 21.3% YoY to Rs 897 crore 
  • Others: Revenue up by 3.3% YoY to Rs 1,332 crore 

Other things to know about L&T

  • The company’s P/E ratio is at 19.05 against the industry average of 50.62
  • Larsen & Toubro’s P/B ratio is at 2.48 against the industry average of 4.71
  • The company’s dividend yield is at 2.29% against the industry average of 0.74%

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Research Analyst: Bavadharini KS

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