L& T registers 13% growth

Engineering major Larsen & Toubro (L&T) reported Gross Sales of Rs 15213 crore, for the quarter ended March 31, 2011, registering a growth of 13% over the corresponding quarter of the previous year. Gross Sales for the full year at Rs 43886 crore grew by 19 % y-o-y.

A growth of 27% in Order Inflow was achieved during the quarter ended March 31, 2011, helped the company record an Order Book of Rs 130217 crore as at March 31, 2011.

In spite of deferment of some infrastructure and power project orders, the Company could achieve an increase of 15% in Order Inflow for the year 2010-11.

Profit after Tax (PAT) for the year ended March 31, 2011 excluding exceptional and extraordinary items, stood at Rs 3676 crore, grew by 15% over the previous year.

The Board of Directors has recommended a dividend of Rs 14.50 per equity share.

Engineering & Construction Segment

The Segment achieved Customer Sales of Rs 37550 crore for the year ended March 31, 2011, registering a growth of 19% over the previous year.

Execution of multiple projects progressed well during the year, as scheduled. Execution of Power project orders, in particular, accelerated during the year, contributing significantly to the segment revenue. Customer Sales for the quarter ended March 31, 2011 at ` 13317 crore grew by 13% y-o-y.

Order Inflow peaked at Rs 28526 crore in the quarter ended March 31, 2011, registering a growth of 29 % over the corresponding quarter of the previous year.

Major orders during the quarter came from Minerals & Metals and Building & Factories sectors. Order Inflow of the Segment for the year at Rs 73013 crore grew by 14%.

Order Book of the segment stood at Rs 128000 crore as on March 31, 2011.

With an Operating Margin of 13.7% achieved during the year, the Segment was able to sustain a record of healthy Operating Margins seen in the recent years, aided by appropriate risk mitigation strategies, superior execution of projects and astute management of costs.

Electrical & Electronics Segment

The Segment Customer Sales at Rs 2987 crore during the year ended March 31, 2011, recorded a modest growth of 5%. Stiff competition in the domestic electrical sector coupled with sluggish international demand witnessed by the Electrical Systems & Equipment and Control & Automation businesses, impacted Segment sales during the year.

The segment achieved an Operating Margin of 16.8% for the year ended March 31, 2011.

Machinery & Industrial Products Segment

Aided by higher demand from construction, mining and industrial sectors, the Segment registered a good growth of 26% in Customer Sales at Rs 2699 crore for the year ended March 31, 2011.

Segment Operating Margin was at 21.2% for the year, mainly contributed by the Construction and Mining Businesses.

Consolidated Group Financials

The Consolidated Group Total Income at Rs 52089 crore for the year grew by 18% vis-?-vis ` 43970 crore for the previous year. The Consolidated Group Profit After Tax excluding extraordinary and exceptional items, stood at Rs 4238 crore.