L&T expects order inflow to grow 10% YoY in FY26 driven by global ops
This story was originally published at 20:54 IST on 8 May 2025
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--L&T: Order inflow expected to grow around 10% in FY26
--CONTEXT: Comments by L&T mgmt in post-earnings press conference
--L&T: Target 8.5% margin in FY26, up 20 bps from FY25
--L&T: FY26 to have a certain favourable tilt towards global orders
--L&T: 60% of co's international orders come from West Asia
MUMBAI – Larsen & Toubro Ltd. expects its order inflow to grow around 10% year-on-year in 2025-26 (Apr-Mar) driven by robust growth in international orders, the company said at a post-earnings press conference on Thursday. In FY26, the company expects to see its order book to have a larger tilt towards international orders.
L&T disclosed its March quarter earnings post market hours Thursday. It reported a consolidated net profit of nearly INR 55 billion on revenues of INR 744 billion. Its order inflow for the latest quarter was INR 896 billion, up 24% on year. In FY25, its order book was INR 5.791 trillion, up 22% on year. International orders formed 46% of its order book in the March quarter. The company has a pipeline of INR 19 trillion prospectively for FY26, it said in an investor presentation.
"I think there is a momentum in the international market that at the moment is playing out. And we do think that the momentum, given the various types of programs that have been launched, would continue," the company said. It said around 60% of its international orders comes from West Asia, with prominent presence in Saudi Arabia, Qatar, Oman, Kuwait, and the United Arab Emirates.
"Incidentally for the previous year, domestic prospects were around similar levels of INR 7 lakh crore (INR 7 trillion), but the international prospects were lower at about INR 7 lakh crore (INR 7 trillion), as compared to the INR 12 lakh crore (INR 12 trillion) that we see today," L&T added. Of the prospective INR 7 trillion worth of orders for the domestic market next year, the company expects to see a substantial portion coming from the infrastructure segment. In FY25, L&T derived around 49% of its total revenues from the infrastructure business.
L&T's revenue in FY25 was INR 2.557 trillion, up 16% on year. The company expects its revenue to grow 15% in FY26, based on its assessment of the schedule of project completion. The company is targeting a margin of around 8.5% in the next financial year, up around 20 basis points from FY25. "Last year we reported 8.2% and we said the margins for the current year would be around similar levels, but we were able to slightly improve on that during the course of the year. Encouraged by this, we are setting ourselves a target," the management said.
On Thursday, shares of L&T ended at INR 3,323.9 on the National Stock Exchange, up 0.1%. End
Reported by Anand JC and Ashutosh Pati
Edited by Tanima Banerjee
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