Building a Bright Future: Exploring Larsen & Toubro's Impressive Financial Performance

Rajesh
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Larsen & Toubro Ltd. (L&T) is a prominent and highly regarded company operating in the construction industry. As one of India's largest and most reputable businesses in the private sector, L&T has established its headquarters in Mumbai. With its diverse portfolio encompassing technology, engineering, construction, and manufacturing, the company has consistently secured a leadership position in each of these key sectors.

Unveiling Larsen & Toubro Ltd: A Bluechip Stock with Strong Dividend Potential

Dividend Declaration and AGM:

In a recent stock exchange filing, Larsen & Toubro announced that Wednesday, 2nd August 2023, has been fixed as the Record Date for determining the Members entitled to receive the proposed Final Dividend of Rs. 24.00 per share of the face value Rs. 2/- for the year ended 31st March 2023. The Cut-off Date for e-voting on the resolutions outlined in the Notice of AGM has also been set as Wednesday, August 2, 2023. The AGM for FY 2022-23 is scheduled to be held on Wednesday, 9th August 2023, physically, at Birla Matushri Sabhagar, 19, Marine Lines, Mumbai.

Financial Performance:

L&T reported a consolidated net profit of Rs 3,987 crore in Q4FY23, with revenue for the period reaching Rs 58,335 crore. Comparatively, the company's PAT and revenue for the quarter ended in March 2022 were Rs 3,621 crore and Rs 52,851 crore, respectively. Notably, EBITDA witnessed a growth of 5% to Rs 6,833 crore in Q4 FY23, compared to Rs 6,517 crore in Q4 FY22. Overall, L&T's PAT exhibited significant growth in FY23, rising by 21% YoY to Rs 10,471 crore, while the total revenue for the entire fiscal year climbed 17% YoY to Rs 183,341 crore.

Dividend Yield and Track Record:

L&T has announced an equity dividend of 1200.00% or Rs 24 per share for the fiscal year ended March 2023. This translates to a dividend yield of 1.04% based on the current share price of Rs 2,325.75. The company has consistently demonstrated a robust track record of dividend declarations over the past five years, having issued 27 dividends since June 21, 2001. Notably, Larsen & Toubro Ltd. declared an equity dividend worth Rs 22 per share over the past 12 months.

Shareholding Pattern:

During Q4FY23, Larsen & Toubro reported the following shareholding pattern: FIIs held a stake of 24.48%, DIIs held 38.64%, the government held 0.23%, and the public held 36.65%. According to the shareholding pattern for January to March 2023 quarter, insurance giant LIC held 16,04,73,308 fully paid-up equity shares, representing an 11.56% stake in the company.

Conclusion:

Larsen & Toubro Ltd. stands as a reliable and influential bluechip stock operating in the construction industry. With its extensive experience and leadership position in various sectors, the company has consistently delivered strong financial performance. The recent dividend declaration and the upcoming AGM further highlight its commitment to creating value for shareholders. As an investor, considering L&T's impressive track record and solid market position can be a prudent decision for long-term growth and stability.


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