Prabhudas Lilladher has given a buy rating for Larsen & Toubro with a target price of Rs 4047. The current market price is Rs 3664.5.
About the Company:
Larsen & Toubro Ltd. (L&T) was established in 1946 and is a large-cap company with a market capitalization of Rs 503967.26 crore. It operates in the construction sector.
Revenue Sources:
L&T earns revenue from several sources, including:
- Construction work
- Manufacturing and trading activities
- Other services
- Operating revenue
- Property development
- Commissions
- Engineering services
- Lease rentals
Financial Performance:
For the quarter ending March 31, 2024:
- The company’s consolidated total income was Rs 68120.42 crore, which is a 21.72% increase from the previous quarter’s total income of Rs 55965.57 crore.
- Compared to the same quarter last year, the total income increased by 15.31% from Rs 59076.06 crore.
- L&T reported a net profit after tax of Rs 5003.54 crore.
Ownership:
As of March 31, 2024:
- Promoters held 0% stake in the company.
- Foreign Institutional Investors (FIIs) owned 24.36% stake.
- Domestic Institutional Investors (DIIs) held 38.06% stake.
Conclusion:
Prabhudas Lilladher recommends buying L&T shares with a target price of Rs 4047, reflecting confidence in the company’s strong financial performance and growth potential.
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