India: L&T’s order inflows decline by 6% in FY ’21

Larsen & Toubro’s (L&T) order inflows declined by 6% in FY ’21 to INR 1,755 billion, weighed down by the impact of the pandemic.

Performance highlights are given as under:

• Domestic orders accounted for INR 1,275 billion in FY ’21, up by 1% against FY ’20.
• In Q4 FY ’21, order inflows were 12% lower at INR 507 billion against the year-ago quarter.
• Lower activities at the company’s heavy engineering and power segments led to reduced orders.

However, in FY ’21, the value of order book was recorded at INR 3,274 billion- up by 8% against the previous fiscal.

The company foresees a better inflow of orders in FY ’22 on renewed focus on capital expenditure in the Union Budget 2021-22.