L&T reported a robust Q2 FY24 with group revenue of ₹51,000 crore (+19% YoY) and PAT of ₹3,200 crore (+45% YoY), driven by strong execution in projects & manufacturing and a one...
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The ongoing conflict in the Middle East could disrupt oil prices and project awards, impacting L&T's large international order pipeline (84% of international order book in Saudi Arabia).
high · management_commentaryLegacy COVID-impacted jobs are compressing infrastructure margins (5.4% in Q2 vs 6.6% YoY). Management expects these to conclude by FY24 end, but any delay could further pressure margins.
medium · management_commentaryAnalysts questioned the margin profile of the two ultra-mega hydrocarbon orders. Management acknowledged they are fixed-price contracts and declined to provide margin expectations, raising uncertainty.
medium · analyst_questionWhile management downplayed current labor shortages, they admitted that securing skilled labor for complex projects (coastal roads, high-speed rail, underground metro) is becoming challenging.
low · analyst_question