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L&T rallies after Q3 PAT climbs 14% YoY to Rs 3,359 cr; order inflow exceeds 1 lakh crore

31-Jan-25 10:54 Hrs IST

Revenue from operations jumped 17.31% YoY to Rs 64,667.78 crore in Q3 FY25, driven by a robust order book and accelerated execution momentum across its projects & manufacturing (P&M) businesses.

Profit before tax (PBT) increased 11.76% YoY to Rs 5,333.03 crore during the quarter.

EBITDA stood at Rs 6,255 crore in Q3 FY25, registering the growth of 9% compared with Rs 5,759 crore in Q3 FY24, while EBITDA margin fell to 9.7% during the quarter against 10.4% in Q3 FY24.

The company received its highest ever quarterly orders of Rs 1,16,036 crore at the group level during the quarter ended December 31, 2024, registering a substantial y-o-y growth of 53%. During the quarter, orders were received across multiple geographies and diverse sectors like Thermal Power, Renewable, Power Transmission, Precision Engineering, Minerals & Metals, Water, Commercial Buildings and Hydrocarbon Onshore.

The consolidated order book of the group as on December 31, 2024, is at Rs 564,223 crore registers a growth of 19% over March 2024, with the share of international orders at 42%.

The Infrastructure Projects segment secured order inflow of Rs 49,070 crore, during the quarter ended December 31, 2024, registering a growth of 14% on y-o-y basis. International orders constituted 74% of the total order inflow of the segment during the quarter aided by receipt of major orders in Renewable and Power Transmission & Distribution businesses.

The segment order book stood at Rs 361,282 crore as on 31 December 2024, with the share of international orders at 37%.

The Energy Projects segment secured orders valued at Rs 38,818 crore during the quarter ended December 31, 2024 registering a growth of >100% on a y-o-y basis, aided by receipt of mega orders in both CarbonLite Solutions and Hydrocarbon businesses respectively. International order inflow constituted 33% of the total order inflow during the quarter.

The Hi -tech manufacturing segment secured orders valued at Rs 8,423 crore during the quarter ended December 31, 2024 registering a growth of >100% over the previous year, with receipt of a key order in the Precision Engineering & Systems business. Export orders constituted 15% of the total order inflow of the segment during the quarter.

The order book of the segment was at Rs 41,769 crore as on December 31, 2024, with the share of export orders at 11%.

The IT & Technology segment recorded customer revenues of Rs 12,061 crore for the quarter ended December 31, 2024, registering a y-o-y growth of 8%. However, encouraging deal wins from clients coupled with a positive outlook towards discretionary spends is signaling potential momentum pick up ahead. International billing contributed 93% of the total customer revenues of the segment for the quarter ended December 31, 2024.

The financial segment recorded income from operations at Rs 3,881 crore during the quarter ended December 31, 2024, registering a y-o-y growth of 14%, attributed to following a disbursement strategy towards retailisation, market expansion with appropriate risk guardrails.

The total Loan Book at Rs 95,120 crore grew by 11% as compared with March 2024 at Rs 85,565 crore. Further, on a y-o-y basis the total Loan Book reported growth of 16%. The Retail loan book now constitutes 97% of the total loan book as on December 31, 2024.

The segment recorded customer revenues of Rs 1,434 crore during the quarter ended December 31, 2024 registering a growth of 18% y-o-y basis aided by growth in Nabha Power.

'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 December 31, 2024 at Rs1,674 crore registered a moderate growth of 9% y-o-y, mainly contributed by higher handover of residential units in Realty business. Export sales constituted 11% of the total customer revenues of the segment during the quarter, mainly attributable to Industrial Valves business.

S.N. Subrahmanyan, chairman and managing director, said, 'The projects and manufacturing businesses of the Company continue to perform well enabled by the improved productivity pursuant to our sustained digital adoption efforts.

During the quarter, the company has taken a strategic stake in E2E Networks with an aim to collaborate and unlock the full potential in AI and the digital transformation wave and offer secure cloud services, which aligns with our vision of diversifying the portfolio to leverage the technology needs of tomorrow

The upcoming Union Budget is expected to emphasize building infrastructure, adoption of technology, improving learning efficacy & skill development and policy continuity towards Energy Transition which will provide necessary impetus to the Indian economy. We expect the Middle East to continue to strengthen its physical and digital infrastructure besides continuing to monetise its Oil & Gas assets. Amid this backdrop, the Company will continue to pursue excellence and leverage its strengths to seize new opportunities while remaining resilient.'

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.