Last 1,535 INR
Change Today +28.75 / 1.91%
Volume 2.4M
LT On Other Exchanges
Symbol
Exchange
Natl India
OTC US
OTC US
Frankfurt
As of 5:22 AM 12/19/14 All times are local (Market data is delayed by at least 15 minutes).

larsen & toubro ltd (LT) Snapshot

Open
1,516
Previous Close
1,506
Day High
1,547
Day Low
1,516
52 Week High
06/9/14 - 1,777
52 Week Low
01/10/14 - 951.50
Market Cap
1.4T
Average Volume 10 Days
2.3M
EPS TTM
52.97
Shares Outstanding
928.8M
EX-Date
08/13/14
P/E TM
29.0x
Dividend
14.25
Dividend Yield
0.93%
Current Stock Chart for LARSEN & TOUBRO LTD (LT)

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larsen & toubro ltd (LT) Details

Larsen & Toubro Limited operates as a technology, engineering, construction, and manufacturing company worldwide. Its Infrastructure segment constructs building, factory, transportation and heavy civil, power transmission and distribution, and water and renewable energy projects. The company’s Power segment offers coal and gas-based thermal power plants turnkey solutions, including power generation equipment. Its Metallurgical & Material Handling segment provides turnkey solutions for ferrous and non ferrous metal industries; bulk material and ash handling systems; and industrial machinery and equipment. The company’s Heavy Engineering segment manufactures custom designed and engineered equipment and systems. Its Electrical & Automation segment manufactures switchgear components, voltage switchboards, electronic energy meters/protection systems, and automation products; and offers marine alarm, control and monitoring software solution, and system integration services. The company’s Machinery & Industrial Products segment manufactures rubber processing machinery and castings; industrial valves; and construction, industrial, and welding and cutting equipment. Its Hydrocarbon segment provides engineering, procurement, and construction solutions for oil and gas industry. The company’s IT & Technology Services segment offers information technology and integrated engineering services. Its Financial Services segment provides retail, corporate, housing, and infrastructure finance; general insurance; and mutual fund schemes asset management and related advisory services. The company’s Developmental Projects segment is involved in basic infrastructure projects; toll collection; power development; development and operation of port facilities; and providing related advisory services. Its Other segment is engaged in realty, shipbuilding, ready-mix concrete, and mining and aviation businesses. The company was founded in 1938 and is headquartered in Mumbai, India.

Founded in 1938

larsen & toubro ltd (LT) Top Compensated Officers

Managing Director, Chief Executive Officer an...
Total Annual Compensation: 18.2M
Group Executive Chairman and Member of Nomina...
Total Annual Compensation: 28.8M
Chief Financial Officer, Whole-Time Director ...
Total Annual Compensation: 10.2M
Chairman of L&T Finance Holdings Limited and ...
Total Annual Compensation: 3.6M
President of Heavy Engineering, Whole-Time Di...
Total Annual Compensation: 13.5M
Compensation as of Fiscal Year 2014.

larsen & toubro ltd (LT) Key Developments

NTPC Eyes 505 Stake In OPTCL's Project

NTPC Ltd. (BSE:532555) is interested in acquiring 50% stake in the 2400 Mw (3x800) power project to be set up at Kamakhyanagar in Dhenkanal district. Odisha Thermal Power Corporation Ltd. (OPTCL) is developing the project. Odisha Mining Corporation Limited (OMC) and Odisha Hydro Power Corporation Ltd. (OHPC) hold 50% stake each in OPTCL. "NTPC has given a proposal to acquire 50% stake in the OTPCL project. But the government has not taken a call on it yet. To accommodate NTPC, each of the joint venture partners have to dilute their stakes", said a government official. Larsen & Toubro Limited (BSE:500510) (L&T) and Bharat Heavy Electricals Ltd. (BSE:500103) were also interested in acquiring 26% stake in OTPCL's project with a rider that their equipment would be used in the power plant. This contradicted the state government's initial plan of divesting 74% stake presumably because both its PSUs had no previous experience of building and running thermal power plants.

Sojitz Corporation and Larsen & Toubro Ltd. Receive JPY 50 Billion Contract from Dedicated Freight Corridor Corporation of India Limited

Sojitz Corporation and Larsen & Toubro Ltd., or L&T, have received a contract from Dedicated Freight Corridor Corporation of India Limited to conduct electrification works for a 915km section of the Western Dedicated Freight Corridor, or Western DFC. The contract amount is approximately JPY 50 billion. The Western DFC is a 1,500 km-long freight corridor linking the Indian capital of Delhi to Mumbai. Under the contract, a 915 km section between Rewari, Haryana, in northern India and Vadodara, Gujarat, in the west, will be electrified. The works are scheduled to begin within 2014, with Sojitz and L&T set to construct 16 traction substations and install overhead electric wires. Sojitz, as consortium leader, will work together with L&T to manage the project and procure Japanese products. The Western DFC has been developed under a Japanese Official Development Assistance (ODA) loan with Special Terms for Economic Partnership (STEP) conditions which require the project to utilize Japanese technologies.

SAIL Stake Sale On December 5

Steel Authority of India Limited (BSE:500113) (SAIL) may be sold. The government of India is set to kick off its INR 580 billion disinvestment program for 2014 - 2015 on December 5, 2014, with dilution of a 5% stake in SAIL. The steel ministry said that it would sell around 206.5 million shares in the company through the offer-for-sale (OFS) route. The government notification added that the offer would open at 9:15 AM and close at 3:30 PM on December 5, 2014 and the ministry would declare the floor price on December 4, 2014. The department of disinvestment in the finance ministry is planning to sell its stake in PSUs in 2014 through the OFS route, which has at least a 105 quota for retail investors, and takes 15-30 days for regulatory clearances. At current market price, sale of a 5% stake in SAIL will fetch the government about INR 17.4 billion. Government plans to raise INR 369.25 billion by selling its stake in 10 public-sector undertakings, including Oil and Natural Gas Corp. Ltd. (BSE:500312) (ONGC), Coal India Limited (BSE:533278) and NHPC Ltd. (BSE:533098), and Power Finance Corporation Limited (BSE:532810) (PFC), Rural Electrification Corporation Limited (BSE:532955) (REC) and Container Corporation of India Ltd. (BSE:531344). Additionally, the government plans to raise about INR 65 billion from part-sale of stake it holds through The Specified Undertaking of the Unit Trust of India in AXIS Bank Limited (BSE:532215), Larsen & Toubro Limited (BSE:500510), and ITC Limited (BSE:500875); and INR 150 billion from sale of its residual stake in Hindustan Zinc Ltd. (BSE:500188) and Bharat Aluminium Company Limited (Balco). Apart from SAIL, finance ministry officials are confident that Coal India, ONGC, and NHPC will hit the market by the end of January 2015. At current prices, the combined proceeds from these four public-sector behemoths will be around INR 429.11 billion. So far, however, there is less clarity on stake sales in the smaller companies, some of which might be shelved. The combined proceeds from sale of 5% each in Concor, PFC, REC and MOIL Limited (BSE:533286) could be about INR 52.1 billion at current rates, while the government expects about INR 55 billion from sale of 10% each in Hindustan Aeronautics Limited and Rashtriya Ispat Nigam Ltd.

 

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Industry Analysis

LT

Industry Average

Valuation LT Industry Range
Price/Earnings 24.4x
Price/Sales 1.5x
Price/Book 3.3x
Price/Cash Flow 18.6x
TEV/Sales 0.4x
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