Margin fell 90 basis points year-on-year to 7.6%, missing analysts’ expectations. Execution of legacy orders secured in FY21 and the first half of FY22, and the issue of new orders still not achieving a margin recognition threshold, led to weak core margin.
E&C margin has been in low single digits in the previous three quarters, and the pain may not be over yet. L&T has lowered its E&C margin guidance range to 8.25-8.5%, from 8.5-9%. Although the cut in the guidance is not sharp, it was enough for investors to cream off profits, dragging the stock down by 4% on Wednesday.
Denne historien er fra February 01, 2024-utgaven av Mint Mumbai.
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Denne historien er fra February 01, 2024-utgaven av Mint Mumbai.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
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