L&T: S N Subrahmanyan Takes over as CEO, Don't Expect Wholesale Changes Immediately

(LT IN) LARSEN & TOUBRO: Rise in Progress, Protect Profits with New Trailing Stop at 1755.

India - Politics, Industrials, IT and Large Caps, EMAlpha

Pankaj Sharma

India - Politics, Industrials, IT and Large Caps

Equity Bottom-Up

<h2>E&amp;C - Order Inflow, Execution and Margins are Key Drivers</h2><p>For an Engineering &amp; Construction (E&amp;C) company such as <a href="https://www.smartkarma.com/entities/2499" target="_blank" data-smartkarma-citation="entities:2499:1">Larsen &amp; Toubro Ltd (LT IN)</a>, three most important business drivers are;</p><ul>
<li>Order Inflow – How well the company is feeding the pipeline for its revenues in future?</li>
<li>Execution – How efficiently it converts orders into top line?</li>
<li>Margins – How the company is doing on profitability?</li>
</ul><div class="content-highlight"><p>L&amp;T reported 1Q FY18 Results post market hours on Friday evening. We think, a) execution has been good, b) order…</p></div>

E&amp;C - Order Inflow, Execution and Margins are Key DriversFor an Engineering &amp; Construction (E&amp;C) company such as Larsen &amp; Toubro Ltd (LT IN), three most important business drivers are;
Order Inflow – How well the company is feeding the pipeline for its revenues in future?
Execution – How efficiently it converts orders into top line?
Margins – How the company is doing on profitability?
L&amp;T reported 1Q FY18 Results post market hours on Friday evening. We think, a) execution has been good, b) order…

L&T : 1Q FY18 Is Disappointing on Order Inflow and Margins, Execution Is Satisfactory