Larsen & Toubro (LT) — concall transcript

📢 Key Event
L&T reported record order inflows of ₹1.16 trillion and a ₹5.64 trillion order book, with 17% YoY revenue growth and 9.7% EBITDA margin.

🔄 What Changed
Order inflows grew 53% YoY to ₹1.16 trillion; order book expanded to ₹5.64 trillion; international revenue share rose to 51%; E2E Networks acquisition completed for USD 110 million.

🔮 What's Next
FY25 revenue growth guidance of 15% remains on track; EBITDA margin guidance for Projects & Manufacturing held at 8.2% for FY26; NWC-to-revenue expected to stabilize at 12.7%; capex to increase in green energy, data centers, and semiconductors with returns expected from FY27-FY31.

💡 Investor Takeaway
L&T is accelerating growth in high-margin infrastructure and green energy segments while expanding into AI and green hydrogen, supported by strong order momentum and international diversification.

Larsen & Toubro reported record order inflows of ₹1.16 trillion (53% YoY) and a ₹5.64 trillion order book, with 17% YoY revenue growth and 9.7% EBITDA margin (group level, without other income). Segment highlights include Infrastructure (Rs 321B revenue, 5.5% EBITDA), Energy (Rs 111B revenue, 8.3% margin), and Hi-Tech Manufacturing. International revenue now accounts for 51% of group revenue. The company secured a USD 1.68 billion deal and acquired E2E Networks for USD 110 million to boost AI and software capabilities. Green hydrogen capacity reached 90,000 MTPA with ₹300 crore incentives over 3 years. Capital allocation is increasing in green energy, data centers, and semiconductors, with returns expected from FY27-FY31. Macroeconomic outlook remains positive with FY25 GDP growth projected at 6.5-6.8%.

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About Larsen & Toubro Ltd (LT)

Construction · Infrastructure Developers & Operators · Listed on BSE

Market Cap: ₹5,48,915.94 Cr P/E: 33.1 ROE: 18.1% ROCE: 17.8% Div Yield: 0.95%

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🔥 Also filed on 31 December 2024

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Larsen & Toubro Ltd (LT) — concall transcript | 31 December 2024

About Larsen & Toubro Ltd (LT)

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🔥 Also filed on 31 December 2024