L&T Shares: Construction firm Larsen & Toubro has fixed July 22, 2022, as the record date for the members entitled to receive the proposed dividend of 1100 per cent or Rs 22 for the year ended March 31, 2022. The dividend, if declared at the AGM, will be paid on or before August 08, 2022.
In its exchange filing, Larsen & Toubro informed BSE that “The Company has fixed Friday, 22nd July 2022 as the Record Date to determine the Members entitled to receive the proposed dividend of Rs. 22.00 per share of face value Rs. 2/- each for the year ended 31st March 2022. Dividend, if declared at the AGM, will be paid on or before Monday, sth August 2022. The Company has fixed Thursday, July 28, 2022, as the Cut-off Date for the purpose of determining the Members eligible to vote on the resolutions set out in the Notice of AGM or to attend the AGM.”
Stock Price History
The L&T stock climbed 1.02 per cent from its previous close of Rs 1535.80 and closed at a market price of Rs 1,551.50 today. At the current level, Larsen & Toubro shares are trading 25.35 per cent below the 52-week high and 6.53 per cent above the 52-week low on the NSE, where the stock reached a 52-week high of Rs 2,078.55 on 18th January 2022 and a 52-week low of Rs 1,456.35 on 20th June 2022.
Larsen & Toubro Ltd., incorporated in the year 1946, is a large-cap company (having a market cap of Rs 2,15,784.37 Crore) operating in the construction sector.
Financials
For the quarter ended 31-03-2022, the company reported a consolidated total income of Rs 53,366.26 crore, up 32.97 per cent from last quarter’s total income of Rs 40134.31 crore and up 8.65 per cent from last year’s same quarter total income of Rs 49116.16 crore. The company reported a net profit after tax of Rs 4,006.66 crore in the latest quarter.
Should you Invest?
ICICI Direct has a “buy” call on Larsen & Toubro with a target price of Rs 1,920. The current market price of Larsen & Toubro Ltd. is Rs 1,527.6. The time period given by the analyst is one year when Larsen & Toubro Ltd. price can reach the defined target.
“Focus on asset monetisation to further strengthen the balance sheet and improve return ratios. The net working to capital ratio significantly improved from 23.2 per cent in Q3FY22 and 22.2 per cent in Q4FY21 to 19.9 per cent in Q4FY22. The company has generated strong cash flow from operations in FY22 to the tune of Rs 15,000 crore. Also from a leverage perspective, a standalone entity has very low debt while the debt for concessions portfolio is down by Rs 2,100 crore, and the standalone entity is down by Rs 4300 crore in FY22,” the brokerage house said.
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