L&T s Performance for the quarter ended March 31, 2010

Profit after Tax grows 44%
Sales up by 28%
Mumbai, May, 2010: Larsen & Toubro has maintained its all round growth track
record during the quarter. While order inflow grew 90%, sales saw a growth of 28%
over the corresponding quarter of the previous year. The new orders during the
quarter came from Hydrocarbon, Fertiliser, Defence, Buildings and Industrial sectors
signifying the Company’s position of pre-eminence in these sectors.

The Company’s profit after tax for the quarter grew by 44%. The significantly improved
performance during the quarter helped the Company post a y-o-y growth of 35% in
order inflow, 11% in sales (excluding Sales from RMC business sold during the
previous year) and 26% in profit after tax for the full year 2009-10.

Various cost optimization initiatives launched by the Company, aided by lower input
costs, led to an improvement in the profitability of both project and product
businesses. The Operating Margin of the Company for the year at 13.1%, improved
by 140 basis points over the previous year.

The Company’s Order Book as at March 31, 2010, crossed the Rs.100000 crore
mark.

The Board of Directors has recommended a dividend of Rs. 12.50 per equity share.

Engineering & Construction (E&C) Segment
During the year, the Segment bagged sizeable orders from the Power, Hydrocarbon,
Process and Buildings & Factories sectors on the strength of its comprehensive EPC
capabilities. The segment reported Order Inflow for the year 2009-10 at Rs. 63899
crore posting an increase of 41% over the previous year. The yearly growth in Order
Inflow for the Segment was bolstered by the surge in turnkey orders during the fourth
quarter at Rs. 22057 crore reflecting an increase of 95% y-o-y.
With many new projects under execution, E&C segment Customer Sales for the
quarter ended March 31, 2010 at Rs. 11820 crore grew by 30% when compared to
the corresponding quarter of the previous year. The share of export sales
represented 11.2%. The segment Customer Sales for the full year at Rs. 31650
crore grew by 13% over the previous year, despite several constraints faced during
the earlier quarters of the year.
Read More : Source : Energetica-India : International Magazine on Renewable & Conventional Power Generation | Transmission | Distribution