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With strong orders from West Asia and the domestic market, Larsen & Toubro (L&T) is expected to see an uptick in domestic private capex in Q3.
Analysts have projected 24 per cent year-on-year growth in infrastructure, while hydrogen is expected to grow by 20 per cent, and heavy engineering by 10 per cent.
“We believe L&T is well-placed to benefit in the long run with strong tender prospects, better order conversion in the domestic market, significant traction in the hydrocarbon and renewable energy orders from international markets like Saudi Arabia, and an expected uptick in domestic private capex. We expect L&T to report Revenue/Adj. PAT CAGR of 13.4 per cent /21.5 per cent over FY23-26E,” said Amit Anwani - Research Analyst of Prabhudas Lilladher Pvt Ltd.
The company’s Profit After Tax (PAT) could grow 8 per cent over the year-ago quarter.
The overall order book is estimated at Rs 46,02,844 crore, up by 19 per cent year-on-year .
“The order inflows (ex-services) could be robust at Rs 480 billion, led by large orders in HC and infrastructure (up 5 per cent over the year-ago quarter, but down 34 per cent sequentially). The sequential decline can be largely attributed to a high base of wins in the September 2023 quarter,” IIFL Securities says.
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