Rs 28/Share Dividend Announced: L&T Shares In Green As Net Profit Soars 10% YoY

Large cap construction sector company Larsen & Toubro Ltd shares gained 1.53% in trade today on BSE after it announced a surge of 10% in its consolidated net profit to Rs 4396 crore. The company's revenue from operations climbed 15% YoY to Rs 67,079 core. The Board of Larsen & Toubro recommended a final dividend of Rs 28/- per share of the face value of Rs 2/- each. Last trading price of Larsen & Toubro share on BSE is Rs 3485.20 per share. More details below:

Larsen & Toubro Recommends Dividend: As per the BSE filing of Larsen & Toubro dated May 8, 2024, "The Board of Directors has recommended a Final Dividend of Rs.28/- per share of the face value Rs. 2/- each (in addition to the special dividend of Rs. 6 per share paid in August 2023) for the financial year ended March 31, 2024 (previous year final dividend Rs. 24/- per share). The Company will arrange to pay the proposed Final Dividend after approval of the shareholders in the ensuing Annual General Meeting.

Larsen & Toubro Sets Record Date For Dividend: The BSE filing added, "The Company has fixed Thursday, 20th June 2024 as the Record Date for determining the entitlement of Members for the proposed Final Dividend."

Larsen & Toubro Q4 Results: The company witnessed a surge of 15% in its consolidated net sales to Rs 67,079 crore as compared to Rs 58, 335 crore reported in the corresponding quarter of last year. L&T declared its profit after tax (PAT) arrived at Rs 4396 crore, up 10% as against Rs 3,621 crore in the similar quarter of last year. The company's FY 2024 consolidated net sales surged 21% to Rs 2.21 lakh from Rs 1.83 lakh crore in the preceding year. For FY2024, L&T announced its profit after tax came at Rs 13,059 crore, up 25% as against Rs 10,471 crore in FY 2023.

It is worth mentioning that L&T bagged orders worth Rs 3.02 lakh crore at group level for the year ended March 2024, up 31%. Global orders declared at Rs 1.63 lakh crore during the year and consisted 54% of the total order inflow with higher ordering momentum registered in GCC countries. Meanwhile, order inflow for the quarter ended March 2024 declared at Rs 72,150 crore, down 5% as against the corresponding quarter of the previous year. Domestic order inflow soared by 17% YoY.

Larsen & Toubro Share Performance: The 52-week high price of Larsen & Toubro share on BSE is Rs 3,859.65 per share (as on 02/04/2024) and 52-week low price is Rs 2168.65 per share (as on 19/05/2023), respectively. The company has a market capitalisation of Rs 4,79,099.51 crore. The PE of Larsen & Toubro is 49.69 and ROE 16.25.

Larsen & Toubro shares declined 3% in last 1-week, fell 8% in last 1-month, zoomed 47% in last 1-year, and soared 114% in last 2-years.

Larsen & Toubro Key Order Wins: As per the press release, "the Power Transmission & Distribution (PT&D) business of Larsen & Toubro has won multiple orders in India and abroad which stand testimony to its dominant position in the region's clean energy space. The business has bagged orders to establish two Floating Solar Plants in India. The orders comprise a cumulative floating solar capacity of more than 150 MWac, in addition to a ground-mounted Solar PV of 120 MWac capacity. Floating Solar projects involve mounting solar modules on structures that float in a water body, typically a reservoir/ lake/ abandoned quarry."

About: Larsen & Toubro is a USD 23 billion Indian multinational engaged in EPC Projects, Hi-Tech Manufacturing and Services. It operates in over 50 countries worldwide. A strong, customer-focused approach and the constant quest for top-class quality have enabled L&T to attain and sustain leadership in its major lines of business for eight decades.