Resilient Performance

Despite challenges, one of India’s largest engineering and construction firm, Larsen & Toubro (L&T) have showcased a resilient performance for its first quarter (Q1) FY2021. L&T reported a revenue at `21,260 crore in Q1 FY2020, down by 28 per cent year-on-year (Y-o-Y). This was broadly in line with brokerages as the company had announced that they were operating at 40 per cent levels during the quarter. Over the last five years, the company’s net sale and net profit has clocked a Compound Annual Growth Rate (CAGR) of 8 per cent and 14 per cent over FY2016-20. The core infrastructure segment of the company was down by 53 per cent Y-o-Y, the power segment by -33 per cent and the engineering segment  by -57 per cent due to the nationwide lockdown. However, its IT and Technology segment saw a growth of 58 per cent led by the consolidation of Mindtree and growth...