Related
Anand Rathi has buy call on Larsen & Toubro with a target price of Rs 1763. The current market price of Larsen & Toubro Ltd. is Rs 1409.7.
Larsen & Toubro Ltd., incorporated in the year 1946, is a Large Cap company (having a market cap of Rs 197712.32 Crore) operating in Construction sector.
Financials
For the quarter ended 31-12-2020, the company reported a Consolidated Total Income of Rs 36661.08 Crore, up 16.04 % from last quarter Total Income of Rs 31593.77 Crore and down -.14 % from last year same quarter Total Income of Rs 36711.69 Crore. Company reported net profit after tax of Rs 2849.08 Crore in latest quarter.
Investment Rationale
With robust orders and a sturdy pipeline, revenue assurance is healthy. The brokerage expects 17%/28% revenue/PAT CAGRs over FY21-23. Valued on a sum-of-parts basis and at a 20x multiple for its core business, the brokerage arrives at a higher TP of Rs1,763. It retains a Buy. Risks: Sluggish capex, volatile crude prices.
Promoter/FII Holdings
Promoters held 0 per cent stake in the company as of Dec 31, 2020, while FIIs held 18.8 per cent, DIIs 17.2 and public and others 64 per cent.
Larsen & Toubro Ltd., incorporated in the year 1946, is a Large Cap company (having a market cap of Rs 197712.32 Crore) operating in Construction sector.
Financials
For the quarter ended 31-12-2020, the company reported a Consolidated Total Income of Rs 36661.08 Crore, up 16.04 % from last quarter Total Income of Rs 31593.77 Crore and down -.14 % from last year same quarter Total Income of Rs 36711.69 Crore. Company reported net profit after tax of Rs 2849.08 Crore in latest quarter.
Investment Rationale
With robust orders and a sturdy pipeline, revenue assurance is healthy. The brokerage expects 17%/28% revenue/PAT CAGRs over FY21-23. Valued on a sum-of-parts basis and at a 20x multiple for its core business, the brokerage arrives at a higher TP of Rs1,763. It retains a Buy. Risks: Sluggish capex, volatile crude prices.
Promoter/FII Holdings
Promoters held 0 per cent stake in the company as of Dec 31, 2020, while FIIs held 18.8 per cent, DIIs 17.2 and public and others 64 per cent.
Download The Economic Times News App to get Daily Market Updates & Live Business News.
