India leading engineering & construction firm, Larsen and Toubro (L&T) ahs reported an increase of 18 per cent in the quarter till December 2011.

The company had recorded a net profit of Rs 840 crore in the same period previous year. Other income for the firm increased 78.9% to Rs 449 crore compared to Rs 251 crore during the same period of 2010.

Q1FY12 revenue grew 2%QoQ to USD38.59mn, ahead of expectation. Engineering Services continued to show good traction and revenue from this segment grew 5.9%QoQ. The new management is focusing to increase the operating margin and improve revenue from Europe particularly in the automotive segment.

Mumbai, May 19 : Engineering and construction major Larsen and Toubro (L&T) Thursday posted a 17.39 percent increase in its net profit for the quarter ended March 31, which stood at Rs. 1,688.21 crore as against Rs. 1,438.10 crore during the like period of the last fiscal.

The company's gross sales rose 12.78 percent to Rs. 15,212.74 crore during the quarter under review, compared to Rs. 13,489.52 crore during the corresponding period of the last fiscal, the company said in a regulatory filing.

The renowned business entity, McNally Bharat Engineering Company had claimed a down fall in its standalone net profit for the quarter lasted in the March 2011. It has further announced that the company profit had rolled down 0.45% to Rs 223.40 million from Rs 224.40 million as compared to the same quarter last year.

McNally Bharat Engineering Co. Ltd (MBEL) Q4FY11 standalone results were in line with our expectation. Revenue grew by 23% to Rs6.9bn. OPM declined by 132bps to 5.9% mainly due to higher employee cost. Adjusted PAT was flat at Rs223mn. On an annual basis sales grew by 18% to Rs. 17.5bn and PAT grew by 43% to Rs495mn led by higher other income. However, the performance of McNally Sayaji was not very encouraging as for FY11 sales de-grew by 4% to Rs3bn and PAT de-grew by 20% to Rs186mn.

Project business witnessed margin pressure

Mumbai, May 10 : India's top power producer National Thermal Power Corporation (NTPC) Tuesday posted 38 percent increase in its net profit at Rs. 2,781.84 crore for the quarter ended March 31 as against Rs. 2,017.65 crore during the like period of the last fiscal.

Net sales grew 25.62 percent at Rs. 15,518.94 crore during the quarter under review as compared to Rs. 12,353.39 crore during the like quarter of the last financial year, the company said in a regulatory filing.

The company also recommended final dividend of Rs. 0.80 per equity share.

Motilal Oswal is bullish on Larsen and Toubro and has maintained 'buy' rating on the stock in its latest research report.

According to the research report, the investors can buy the stock to achieve a long term target of Rs 1905.

The stock of the company, on March 07, closed at Rs 1567.55 on the Bombay Stock Exchange (BSE).

The share price has seen a 52-week high of Rs 2212 and a low of Rs 1484.70 on BSE.

Current EPS & P/E ratio stood at 57.63 and 27.09 respectively.

Technical analyst Deven Choksey of KR Choksey Shares & Securities has maintained 'buy' rating on Larsen & Toubro Limited stock with a target of Rs 2200.

According to analyst, the investors can achieve the said target within a period of 12 months.

Today, the stock of the company opened at Rs 1611 on the Bombay Stock Exchange (BSE).

The share price has seen a 52-week high of Rs 2212 and a low of Rs 1484.70 on BSE.

Current EPS & P/E ratio stood at 57.63 and 27.61 respectively.

McNally Bharat Engineering Co. Ltd (MBEL) reported Q3FY11 standalone YoY revenue growth of 13.8% to Rs3.8bn. OPM declined by 40bps to 6.5%. Adjusted PAT grew by 19.7% to Rs83.4mn mainly on account of lower interest cost. The 9MFY11 performance of McNally Sayaji was subdued as sales grew by mere 7% and PAT de-grew by 35%. We remain positive on the long term prospects of the company but lower our PE multiple from 12x to 10xFY12E in line with broader correction in valuation of infra stocks. We maintain BUY with a revised target price of Rs275 (10xFY12E).

Project business report muted growth

Elecon Engineering (EECL) results were in line with our expectations. Sales registered 20% YoY growth to Rs3bn. OPM improved by 90bps YoY to 16.4% due to decline in RM cost. Adjusted profit grew by 34% to Rs163mn. Order inflows witnessed healthy growth of 119% in Q3FY11 (YoY Basis). We remain positive on long term prospects of the company but lower our PE multiple from 12x to 10xFY12E in line with broader correction in valuation of infra stocks.

Transmission Equipments (TRE) again drives the growth

Weather plays spoilsport; order inflow remains subdued Patel Engg. reported dismal results, multiple factors effected revenues a) flash floods effected two of its hydro projects which lead to revenue loss of Rs600mn & heavy snowfall in US also effected its US operation. b) Cancellation of Loharinagpala hydro electric project (4x150 MW) from NTPC c) Delay in execution of Pranahita Chevella irrigation project.

AIA Engineering's (AIA) Q3FY11 results were below our expectations. Revenues grew by 15% YoY to Rs2.93bn against our estimate of Rs3.1bn. Higher RM cost (which could not be passed on fully) adversely affected margins which fell by 540bps at operating level. Realisations however, improved to Rs97/kg vs Rs86/kg (YoY basis). Management has further reduced its volume guidance for FY11 and FY12 by ~4-5%. Rupee appreciation and volume growth remain key risks in the long run. At current price we believe the stock is fairly valued and therefore, recommend a HOLD with a target price of Rs355 (14xFY12E).

Technical analyst SP Tulsian maintained 'hold' rating on Larsen & Toubro Limited (L&T) stock.

According to analyst, the interested investors can buy more on dips at Rs 1550.

Today, the stock of the company opened at Rs 1584 on the Bombay Stock Exchange (BSE).

The share price has seen a 52-week high of Rs 2212 and a low of Rs 1430 on BSE.

Current EPS & P/E ratio stood at 57.63 and 26.98 respectively.

Larsen & Toubro Ltd (L&T) has declared the un-audited financial outcomes for the three month period ended December 2010.

Voltas Ltd's Q3FY11 results were disappointing and below our expectations as net sales grew by 5.3% YoY to Rs10.4bn. OPM contracted by 147bps to 7.6% dragged by Electro-Mech segment. Lower operating profit coupled with higher interest charges translated in a 13.3% fall in adj net profit to Rs602mn (PINCe Rs755mn). Reported net profit was Rs705mn including exceptional income of Rs155mn.

Technical analyst Somil Mehta of Sharekhan has maintained 'buy' rating on Punj Lloyd Limited stock with a target of Rs 110.

According to analyst, the investors can purchase the stock with a stop loss of Rs 99.

The stock of the company, on January 24, closed at Rs 102.75 on the Bombay Stock Exchange (BSE).

The share price has seen a 52-week high of Rs 193.30 and a low of Rs 96.10 on BSE.

Current EPS is -18.59.

Punj Lloyd Group, on Jan 20, announced that it had pocketed 3 oil and gas deals worth Rs 645 crore in India, Oman and Indonesia.

Technical analyst Somil Mehta of Sharekhan has maintained 'buy' rating on Larsen & Toubro Limited stock with a medium target of Rs 1770.

According to analyst, the investors can buy the stock with a stop loss of Rs 1600.

Today, the stock of the company opened at Rs 1666 on the Bombay Stock Exchange (BSE).

The share price has seen a 52-week high of Rs 2212 and a low of Rs 1395.50 on BSE.

Current EPS & P/E ratio stood at 57.63 and 28.70 respectively.

India's major Engineering Company Larsen & Toubro has declared an 11% rise in net profit for the third quarter but subsequently reported delays in the order inflows in FY11.

Chief financial officer YM Deosthalee said that March remains the crucial month for them. If orders get delayed or deferred after March then the company has to miss order inflow guidance because sizeable amount of orders have to be decided in March only.

Technical analyst Hemant Thukral has maintained 'buy' rating on Larsen & Toubro Limited (L&T) stock with a medium term target of Rs 1840.

According to analyst, the investors can purchase the stock at around Rs 1650-1660 with a stop loss of Rs 1600.

The stock of the company, on January 14, closed at Rs 1709.35 on the Bombay Stock Exchange (BSE).

The share price has seen a 52-week high of Rs 2212 and a low of Rs 1395.50 on BSE.

Current EPS & P/E ratio stood at 56.10 and 30.05 respectively.

Technical analyst Avani Mehta of Satguru Capital & Finance has maintained 'hold' rating on Larsen & Toubro Limited stock with a long term target.

According to analyst, the investors can buy the stock to attain a target of Rs 2100 in the long run.

Mehta added that it's better to buy the stock at the existing level.

The stock of the company, on January 10, marked its closure at Rs 1782.45 on the Bombay Stock Exchange (BSE).

The share price has seen a 52-week high of Rs 2212 and a low of Rs 1395.50 on BSE.

Technical analyst Manoj Sachdeva of Hem Securities has maintained 'buy' rating on Larsen & Toubro Limited stock with a target of Rs 2005.

The analyst said that the interested investors can attain the said target with a stop loss of Rs 1945.

Mr. Sachdeva said that the said target can be attained within 3-4 trading sessions.

The stock of the company, on December 29, closed at Rs 1955.50 on the Bombay Stock Exchange (BSE).

The share price has seen a 52-week high of Rs 2212 and a low of Rs 1295.50 on BSE.