For its consistent and creditable performance, L&T has been regularly occupying leading positions in the MRC list. This year, it comes back into the top-20 list at the 19th position thanks to an impressive performance and for registering appreciable recovery across key performance parameters.
Addressing the shareholders A.M. Naik, Group Chairman, L&T termed FY2021-22 as a year that was "marked by several disruptions". “Despite that, L&T turned in a creditable performance and registered appreciable recovery across key performance parameters,” he said. The company's order inflow for the year stood at Rs 192,997 crore. It was achieved on the back of major domestic and international order wins in hydrocarbon and infrastructure. "Although the domestic ordering environment was a shade below expectations, the international environment, especially in the Middle East, is a cause for cheer," Naik said.
For FY2022, the L&T group recorded revenues of Rs 1,56,521 crore thereby registering a growth of 15 per cent. The growth was aided by improved project execution and manufacturing activity which were further complemented by a strong pick-up in the services businesses amidst a volatile macro backdrop.
"As on March 31, 2022, the order book at Rs 3,57,595 crore is large, growing and diversified. The infrastructure segment had a 73 per cent share of the consolidated order book," said Naik. Company’s PAT also registered a 23 per cent jump to Rs 8,572 crore. Robust operational cash flows also helped the group in repaying borrowings during the year resulting in improved debt-to-equity ratios.
As per the company’s strategic five-year plan called ‘Lakshya 2026’ it is targeting group revenues of Rs 2.7 lakh crore by FY 2025-26. The Lakshya 2026 strategic plan is to sustain the present momentum and create value over the plan period up to FY26. "In this exercise, the company seriously introspected and rededicated itself to its core focus areas of EPC projects, hi-tech manufacturing and services," said S.N. Subrahmanyan, CEO and MD, L&T.