SSPL WEALTH PVT LTD

Hot Pursuit

Scrips, which has significant changes during the market hours.

L&T rallies after Q2 PAT jumps 5% YoY to Rs 3,395 cr

31-Oct-24 09:33 Hrs IST

Growth in revenue aided by an accelerated progress in the various businesses in Projects & Manufacturing (P&M) portfolio.

Profit before tax (PBT) increased 11.3% YoY to Rs 5,555.09 crore during the quarter.

The company received orders of Rs 80,045 crore at the group level during the quarter ended September 30, 2024, registering a sequential growth of 13% and a y-o-y degrowth of 10%.

During the quarter, multi-geography orders were received across different segments like Renewables, Transmission & Distribution, Roads & Runways, Urban Transit, Nuclear Power, Hydel & Tunnel, Minerals & Metals, Factories, Precision Engineering and the Offshore vertical of Hydrocarbon business.

International revenues during the quarter at ₹ 32,057 crore constituted 52% of the total revenues, largely reflective of a robust international P&M order book. International orders at Rs 50,083 crore during the quarter comprised 63% of the total order inflow.

The consolidated order book of the group as on September 30, 2024, is at Rs 510,402 crore registers a growth of 7% over March 2024, with the share of international orders at 40%.

In Infrastructure projects segment posted revenues of Rs 31,954 crore during the quarter, registering a strong y-o-y growth of 30%, aided by improved progress across various projects. International revenues constituted 45% of the total customer revenues of the segment during the quarter. The segment secured order inflow of Rs 49,522 crore, during the quarter ended September 30, 2024, registering a substantial growth of 77% on y-o-y basis aided by orders in transmission & distribution and Renewable Energy.

The segment order book stood at Rs 342,954 crore as on September 30, 2024, with the share of international orders at 32%

Revenue from Energy projects jumped 31% YoY to Rs 8,873 crore in Q2 FY25. International revenues constituted 69% of the total customer revenues of the segment during the quarter. The segment secured orders valued at Rs 7,759 crore during the quarter ended September 30, 2024. International order inflow constituted 83% of the total order inflow during the quarter.

The segment order book was at Rs 117,154 crore as on September 30, 2024, with the international order book constituting 77%.

The Hi-tech Manufacturing segment achieved customer revenues of Rs 2,063 crore in Q2 Fy25, registering a growth of 9% YoY, with peak execution ramp-up in certain jobs of the Precision Engineering & Systems business. International revenues constituted 15% of the total customer revenues of the segment during the quarter.

The segment secured orders valued at Rs 3,920 crore during the quarter ended September 30, 2024, registering a robust growth of 64% over the previous year. Export orders constituted 37% of the total order inflow of the segment during the quarter.

The order book of the segment was at Rs 35,611 crore as on September 30, 2024, with the share of export orders at 10%.

The IT & Technology Services (IT&TS) segment recorded customer revenues of Rs 11,798 crore for the quarter ended September 30, 2024, registering a modest y-o-y growth of 6%, reflective of the present market conditions. International billing contributed 93% of the total customer revenues of the segment for the quarter ended September 30, 2024.

The financial services segment recorded income from operations at Rs 3,837 crore during the quarter ended September 30, 2024, registering y-o-y growth of 24% mainly attributed to a proactive portfolio management viz. higher retail disbursements with timely collections.

The total Loan Book at Rs 93,015 crore grew by 9% as compared with March 2024 at Rs 85,565 crore. Further, on a y-o-y basis the total Loan Book reported growth of 18%. The Retail loan book now constitutes 96% of the total loan book as on September 30, 2024.

Development Projects Segment recorded customer revenues of Rs 1,382 crore during the quarter ended September 30, 2024 registering de-growth.

'Others' segment comprises (a) Realty (b) Industrial Valves (c) Construction Equipment & Mining Machinery and (d) Rubber Processing Machinery. Customer revenues of the segment during the quarter ended September 30, 2024 at Rs 1,648 crore registered moderate growth of 2% y-o-y, primarily higher handover of residential units in Realty business. Export sales constituted 13% of the total customer revenues of the segment during the quarter, mainly pertaining to Industrial Valves business.

S.N. Subrahmanyan, chairman and managing director said: 'The projects & manufacturing businesses of the Company continue to perform well. We have a record order book more than Rs 5 lakh crore that is a testimony of our proven competence in the domains of engineering, construction, manufacturing, and project management.

Our new transformative investments in Green Energy, Data Centers, Digital Platforms and Semiconductor Design will, besides improving our Digital and Sustainability footprint, compliment our current business portfolio as well. We expect the Middle East Capex momentum to remain healthy. The company remains committed on delivering a sustained performance of growth.'

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.