Larsen and Toubro Ltd. have reported its highest quarterly order inflow, topping its guidance first time in at least six years and beating uncertainty ahead of the election.
India’s largest engineering conglomerate, a bellwether for investments, needed fresh orders worth Rs 47,900-50,900 crore in the quarter ended March to meet its annual growth forecast of 10-12 percent. Going by the disclosures through the quarter, L&T received orders in the range of Rs 42,060-69,560 crore during the period. Analysts expect the actual order inflow to be the average of the range or even higher, helping the company surpass its guidance.
From the fourth quarter, the company stopped giving exact order details but classified into four buckets in the range of Rs 1,000-2,500 crore (significant); Rs 2,500-5,000 crore (large); Rs 5,000-7,000 crore (major); and more than Rs 7,000 crore (mega) citing competition.
The estimated inflows around the midpoint of the range at Rs 53,000 crore.
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