Triple delight: Spectacular Q1FY24 results; this multibagger announce buyback and special dividend!
The consolidated order book of the group stands at Rs 412,648 crore.
On July 26, 2023, the shares of Larsen & Toubro Limited soared 3.30 per cent, the stock hits fresh 52-week high mark of Rs 2673.60 per share on BSE. The scrip witnessed a massive spurt in volume by more than 4.12 times.
The recent spark in the company's performance was ignited by the declaration of their Q1FY24 results, along with the announcement of a buyback plan. Not stopping there, shareholders received another piece of good news with the company's declaration of a special dividend. Details as follows:
In Q1 FY24, Larsen & Toubro Limited witnessed a remarkable year-on-year growth in various key financial metrics. The order inflow surged impressively by 57 per cent, reaching Rs 65,500 crore. Additionally, the order book expanded by 14 per cent to Rs 4,12,600 crore, demonstrating a positive outlook for future revenues.
Speaking of revenues, the company experienced substantial growth, with a 34 per cent increase, reaching Rs 47,900 crore during the same period. The EBITDA margin stood at 10.2 per cent, showcasing the company's operational efficiency. The profit after tax (PAT) recorded a significant growth of 46 per cent, amounting to Rs 2,500 crore.
During the quarter ended June 30, 2023, the company achieved a significant milestone by securing orders worth Rs 65,520 crore at the group level, demonstrating a remarkable YoY growth of 57 per cent. These orders were diversified across various segments, including Rail, Renewables, Rural Water Supply, Transmission & Distribution, IT & Office Space, as well as Onshore & Offshore verticals of the Hydrocarbon business.
Notably, international orders accounted for Rs 27,646 crore, representing 42 per cent of the total order inflow.
As of June 30, 2023, the consolidated order book of the group stands at Rs 412,648 crore. This impressive order book reflects the company's strong performance, successful ventures in different sectors, and growing presence in international markets.
The Board of Directors has granted approval for a buy-back of equity shares of the Company worth up to Rs 10,000 crore. Additionally, the Board has also approved a special dividend of Rs 6 per share, amounting to 300 per cent on the face value of Rs 2 each, for the Financial Year 2023-24.
DSIJ offers a service 'multibagger Pick" with recommendations for multibagger stocks based on research and analysis to help subscribers make informed investment decisions. If this interests you, then do download the service details pdf here
Larsen & Toubro Ltd is a renowned multinational conglomerate that specializes in offering comprehensive engineering, procurement, and construction (EPC) solutions. With its diverse expertise and global presence, Larsen & Toubro plays a significant role in shaping critical industries and driving development in various regions around the world.
The stock has witnessed significant buying activity as it has surged more than 192 per cent in the last 3 years.
Disclaimer: The article is for informational purposes only and not investment advice.