Larsen & Toubro - Q3FY14 - First Cut - Microsec

Larsen & Toubro Ltd announced its Q3FY14 standalone results on 22nd January, 2014.

L&T announced its results excluding the performance of Hydrocarbon business segment transferred with effect from 1st April, 2013 to L&T Hydrocarbon Engineering Ltd, a wholly owned subsidiary of L&T. Consequently, the performance of the previous quarter ending sept'13 and figures related to the previous periods have been suitably restated.

The company's net sales increased by 11.80% YOY to INR14387.51 crore YoY , while its EBITDA was up by 33.11% YoY arriving at INR1674.83 crore. EBITDA Margin of the company increased from 9.63% to 11.64% YoY. PAT excl exceptional items increased by 12% to INR1136.31 crore YoY. Order intake came at INR21722 crore up by 21% YoY in Q3FY14. Total Order Book came at INR171184 crore which grew by 13% YOY. International Order Book arrived at INR8237 crore, more than doubled on back of major orders secured in Middle East (constituted 15% of total order book). The cumulative order inflow for 9MFY14 stood at INR67371 crore, which was up by 23% YoY.

Important Note:

Pursuant to the scheme of arrangement between L&T ltd and L&T Hydrocarbon Engineering Ltd, a wholly owned subsidiary of L&T, the Hydrocarbon business undertaking along with related assets and liabilities has been transferred to LTHE upon sanction by Hon'ble Bombay High court via order on 20th Dec,2013. Accordingly, the effect of the scheme has been given from April1, 2013.

The financial results of the company exclude the financial results of the Hydrocarbon business for the periods commencing 1st April, 2013. The transactions with erstwhile Hydrocarbon business entered on or after 1st April, 2013 have been considered as inter-company transaction.

Source : Equity Bulls

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