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Larsen & Toubro Q3 FY 25: 🚀📊📈
📌 1. Q3 FY25 Consolidated Results Highlights
📢 Key Figures:
🏆 Revenue: ₹64,668 Cr (+17% YoY)
🌍 International Revenue: ₹32,764 Cr (51% of total)
💰 PAT: ₹3,359 Cr (+14% YoY)
📈 EBITDA Margin: 7.6% (Flat YoY)
📜 Order Inflow: ₹116,036 Cr (+53% YoY)
📖 Order Book: ₹5,64,223 Cr (+19% YoY)
📊 ROE: 16.1%
🌎 2. Order Inflow – Q3 FY25 (Geography & Industry-wise)
📌 Total Order Inflow: ₹1,160 Bn (₹1,16,036 Cr)
🏠 Domestic Orders: 47%
🌐 International Orders: 53%
🇦🇪 Middle East: 37%
🇺🇸 USA & Europe: 9%
🌍 Rest of the World: 7%
🎯 Sector-wise Breakdown:
🏗️ Infrastructure: 52% (₹49,070 Cr, +14% YoY)
⚡ Energy: 21% (₹38,818 Cr, +100% YoY)
🏭 Hi-Tech Manufacturing: 6% (₹8,423 Cr)
🏦 Services: 19%
🔍 Others: 2%
📖 3. Order Book – Q3 FY25 (Geography & Industry-wise)
📊 Total Order Book: ₹5,64,223 Cr (+19% YoY)
🔍 Geographical Split:
🇮🇳 India: 58%
🇦🇪 Middle East: 35%
🌍 Rest of the World: 7%
🏗️ Sector-wise Order Book:
Infrastructure: 64%
Energy: 26%
Hi-Tech Manufacturing: 7%
Others: 3%
📊 4. Consolidated Revenue Growth – Q3 FY25 & 9M FY25
📈 Q3 FY25 Revenue: ₹64,668 Cr (+17% YoY) 📈 9M FY25 Revenue: ₹1,81,342 Cr (+18% YoY)
🌍 International Revenue Contribution: 50%
🎯 Segmental Growth:
🏗️ Infrastructure: ₹32,134 Cr (+15% YoY)
⚡ Energy: ₹11,051 Cr (+41% YoY)
🏭 Hi-Tech Manufacturing: ₹2,433 Cr (+18% YoY)
💻 IT & Tech Services: ₹12,061 Cr (+8% YoY)
💰 Financial Services: ₹3,881 Cr (+14% YoY)
🏠 Development Projects: ₹1,434 Cr (+18% YoY)
📦 Others: ₹1,674 Cr (+9% YoY)
🌍 5. Segmental & Regional Growth Share
🛠️ Infrastructure (50% of revenue)
🇮🇳 India: 50%
🇦🇪 Middle East: 32%
🇺🇸 USA & Europe: 16%
🌍 Rest of World: 3%
⚡ Energy (16-17% of revenue)
🇮🇳 India: 46%
🇦🇪 Middle East: 33%
🇺🇸 USA & Europe: 14%
🌍 Rest of World: 7%
🏭 Hi-Tech Manufacturing (3-4% of revenue)
🇮🇳 India: 50%
🇦🇪 Middle East: 30%
🇺🇸 USA & Europe: 17%
🌍 Rest of World: 3%
💻 IT & Tech Services (27-28% of revenue)
🌍 93% international revenue
💹 6. Profit Margin – Q3 FY25 vs Q3 FY24
📊 EBITDA Margin: 7.6% (Flat YoY)
📈 Net Profit Margin: 6.15% (vs. 6.52%)
📍 Segment-wise Margins:
🏗️ Infrastructure: 5.5% (Stable)
⚡ Energy: 8.3% (vs. 9.7% 📉)
🏭 Hi-Tech Manufacturing: 18.2% (vs. 16.7% 📈)
💻 IT & Tech Services: 18.7% (vs. 20.7% 📉)
💰 Financial Services: Stable
🏠 Development Projects: 15.8% (Slight drop)
📦 Others: 27.5% (vs. 24.4% 📈)
📈 7. Profit Growth – Q3 FY25 & 9M FY25
💰 Q3 FY25 PAT: ₹3,359 Cr (+14% YoY)
💰 9M FY25 PAT: ₹9,540 Cr (+10% YoY)
📊 8. Profitability, Solvency, Liquidity & Valuation Ratios @ CMP ₹3,500
📊 Profitability Ratios
🏦 ROE: 16.1% 📈
💰 ROA: 2.27%
📊 Net Profit Margin: 6.15%
🏦 Solvency Ratios
📉 Debt-to-Equity Ratio: 1.18x (High Due to Financial Segment)
🏦 Interest Coverage Ratio: 6.21x (Low Due to Financial Segment)
💰 Debt Service Coverage Ratio: 2.23x
💧 Liquidity Ratios
🏦 Current Ratio: 1.16x
📊 Net Working Capital to Revenue: 12.7% 📉 (Improved by 390 bps)
📈 Valuation Ratios
💵 Trail_EPS: ₹101.36 Increased from 98 previously.
📉 Trail_PE Ratio: ~35x
🏗️ 9. Major New Orders Received
🚀 Key Project Wins:
🇦🇪 Middle East:
Freight handling facility in GCC 📦
Abu Dhabi Solar & Battery Storage Gigascale Project ☀️🔋
🇺🇿 Uzbekistan:
AI-enabled & sustainable data center 🏢⚡
🇮🇳 India:
Thermal Power & Renewable Projects ⚡
🔮 10. Near-Term & Long-Term Outlook
📍 Near-Term (Q4 FY25 & FY26):
📌 Robust ₹5.5 Trillion pipeline, with 59% from India.
🚀 Continued execution momentum in Infrastructure & Energy.
💰 Union Budget 2025 to drive infra & digital spending.
📍 Long-Term (FY26 & Beyond):
🇮🇳 India’s Vision 2047: Major infrastructure expansion.
🇦🇪 Middle East & GCC: Energy transition & digital infra.
💻 Tech & AI Expansion: Investment in E2E Networks.
🎯 Final Summary
✅ Record-breaking Q3 FY25 with highest-ever order inflows 🚀
✅ Strong Infra & Energy execution momentum ⚡
✅ Margins largely stable, minor softness in Energy & IT 📉
✅ Robust solvency, liquidity, and valuation metrics 📊
✅ Suggests strong growth potential 📈
📢 Disclaimer & Disclosure Statement
Important Investor Advisory Notice
This research analysis is for informational purposes only and should not be considered as financial, investment, or legal advice. The information provided herein is based on publicly available financial reports, market data, and our analysis. Investors are advised to exercise caution and discretion before making any investment decisions.
