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Construction & Engineering company Larsen & Toubro announced Q4FY24 & FY24 results:

Q4FY24 Financial Highlights:

• Consolidated Revenues: Rs 67,079 crore; a YoY growth of 15%.
• Share of international revenues: 45%.
• Profit After Tax (PAT): Rs 4,396 crore; a growth of 10% on a YoY basis.

FY24 Financial Highlights:

• Consolidated Revenues: Rs 2,21,113 crore; a YoY growth of 21%.
• International revenues: Rs 95,086 crore; constituting 43% of total revenues.
• Consolidated Profit After Tax (PAT): Rs 13,059 crore; a robust growth of 25% compared to the previous year, including an exceptional gain of Rs 94 crore from the divestment of stake in L&T IDPL.
• Recommended final dividend: Rs 28 per equity share for shareholder approval.
• Orders received: Rs 3,02,812 crore at the group level, with a YoY growth of 31%.
• International orders: Rs 1,63,112 crore, comprising 54% of the total order inflow.
• Order inflow for Q4: Rs 72,150 crore; a marginal de-growth of 5% over the corresponding quarter of the previous year.
• Consolidated order book: Rs 4,75,809 crore as of March 31, 2024, showing a growth of 20% over the previous year, with international orders constituting 38%. 

Commenting on the results, S.N. Subrahmanyan, Chairman and Managing Director said: “The year has concluded on a very strong note for us. We have secured Order Inflows of more than Rs 3 lakh crore and Order Book is around Rs 4.75 lakh crore, reflecting the continued trust reposed on us by all our esteemed clients. During the year, we successfully completed the maiden Buyback of Equity Shares, in line with our aim to improve shareholder value. Furthermore, in addition to the special divided of Rs 6 per share paid to our equity shareholders during the year, we are recommending a final dividend of Rs 28 per share for the FY24.

In line with our Lakshya 2026 plan to divest from non-core businesses, we concluded the sale of our stake in L&T IDPL.

We are confident that our new age businesses such as Green Energy, Semiconductor Chip Design, Digital Platforms and Data Centers will harness the power of technology and compliment the growth of our traditional core businesses in accelerating our strides towards our perspective plan targets.

Recently, some of our marquee projects were inaugurated / completed such as Atal Setu and Coastal Road project in Mumbai. The Company also played its part in the construction of the iconic Ram Mandir at Ayodhya which was consecrated on January 22, 2024. This faith posed by our customers on our capabilities to complete iconic and complex engineering projects in a time-bound manner with highest standards of quality and safety continues.

Despite the ongoing geo-political turmoil globally, the growth story of India continues to power forward and we as a Company are proud to be an integral part of this change. The tailwinds of India’s economic growth will continue due to the impact of structural reforms, strengthening physical and digital infrastructure, improving institutional strength and strong governance.”

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