Strong Execution With Healthy Orders

Larsen and Toubro, has taken the street by surprise yet again with a stellar performance. For the June quarter of financial year (FY) 2020, the company reported a double-digit revenue growth of 10 per cent year-on-year (YoY), settling at `296 bn. Industry analysts are of the opinion that the impressive revenue growth was triggered by the company’s business growth in segments like infrastructure (14 per cent YoY), heavy engineering (163 per cent YoY) and defence engineering (32 per cent YoY). Despite expected slowdown in order inflows on account of election season, the inflows came in at Rs. 387 bn in Q1 FY20, with a 11 per cent growth year-on-year (Y-o-Y) mainly on the back of strong PSU and private-sector orders. L&T’s international orders contributed 23 per cent of the order inflows. On the other hand, the company’s consolidated order book stood at `2,940 bn, up...