Engineering and Infrastructure conglomerate Larsen & Toubro Ltd. reported a growth of 57 percent in its overall order inflow for the June quarter. Orders won during the quarter stood at Rs 65,520 crore.
Most of the orders were received across segments like rail, renewables, rural water supply, transmission & distribution, IT & Office Spaces and Hydrocarbons.
With these orders, the company's consolidated orderbook crossed the Rs 4 lakh crore mark for the first time ever, at Rs 4.12 lakh crore as of June 30. Out of the number of orders received during the June quarter, 42 percent came from the international business. On a consolidated basis, 29 percent of the total orders are international.
Here's a look at how the various business segments performed in the June quarter in terms of order inflows:
Out of the overall orderbook, the core infrastructure business comprises of 73 percent of the total orders. Orderbook of the infrastructure business stood at Rs 3.01 lakh crore, having received Rs 40,051 crore worth of orders during the June quarter. 35 percent of the orders this quarter, came from the international business.
The energy projects segments won orders worth Rs 7,245 crore during the quarter, a growth of 66 percent from the same period last year. Overall orderbook for the quarter stood at Rs 72,870 crore, with 62 percent of those being international orders.
L&T's Hi-Tech Manufacturing business saw order inflows decline by 70 percent during the June quarter, mainly due to a high base. The company's Defence Engineering business had won substantial orders in the base quarter. Yet, it secured orders worth Rs 1,051 crore during the June quarter, taking the overall orderbook to Rs 25,630 crore. 12 percent of those were export-oriented orders.
Larsen & Toubro's June quarter results were largely above the CNBC-TV18 poll expectations except for EBITDA margin, which was 110 basis points below estimates. Even on a year-on-year basis, margin fell by 80 basis points.
The company has also approved a share buyback of up to Rs 10,000 crore at a price of up to Rs 3,000 per share. The buyback price is a 17 percent premium to Tuesday's closing price.
Shares of L&T ended 1.5 percent lower at Rs 2,565.
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