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L&T vs BHEL - Comparison Results

L&T     Change

Larsen & Toubro (L&T) is India's largest engineering company with expertise in wide areas like infrastructure, oil and gas, power and process. The company has broadly segregated its business into three key segments Engineering and Construction (E&C),... More


Bharat Heavy Electricals Limited (BHEL) is India's largest PSU engineering company catering to the power sector. The company has a 25-year history of consistent profitability and manufactures over 180 products for industries like power generation and... More


Current Valuations

    L&T BHEL L&T/
P/E (TTM) x 19.8 19.3 102.4% View Chart
P/BV x 3.2 0.7 442.9% View Chart
Dividend Yield % 1.3 2.8 44.1%  


5-Yr Chart
Click to enlarge
High Rs1,459183 798.6%   
Low Rs1,18380 1,488.6%   
Sales per share (Unadj.) Rs1,005.278.8 1,275.2%  
Earnings per share (Unadj.) Rs72.81.2 6,102.4%  
Cash flow per share (Unadj.) Rs87.73.3 2,627.0%  
Dividends per share (Unadj.) Rs18.001.82 989.0%  
Dividend yield (eoy) %1.41.4 98.1%  
Book value per share (Unadj.) Rs444.788.1 504.9%  
Shares outstanding (eoy) m1,402.733,671.40 38.2%   
Bonus/Rights/Conversions ESOPB-  
Price / Sales ratio x1.31.7 79.0%   
Avg P/E ratio x18.1109.8 16.5%  
P/CF ratio (eoy) x15.139.3 38.4%  
Price / Book Value ratio x3.01.5 199.6%  
Dividend payout %24.7152.5 16.2%   
Avg Mkt Cap Rs m1,853,357481,321 385.1%   
No. of employees `00044.837.5 119.2%   
Total wages/salary Rs m181,00660,347 299.9%   
Avg. sales/employee Rs Th31,502.27,709.2 408.6%   
Avg. wages/employee Rs Th4,043.81,607.5 251.6%   
Avg. net profit/employee Rs Th2,282.5116.7 1,955.4%   
Net Sales Rs m1,410,071289,404 487.2%  
Other income Rs m18,5156,780 273.1%   
Total revenues Rs m1,428,586296,184 482.3%   
Gross profit Rs m163,24719,701 828.6%  
Depreciation Rs m20,8407,873 264.7%   
Interest Rs m18,0602,552 707.8%   
Profit before tax Rs m142,86216,056 889.8%   
Minority Interest Rs m-210-3,908 5.4%   
Prior Period Items Rs m00-   
Extraordinary Inc (Exp) Rs m2,9480-   
Tax Rs m43,4337,767 559.2%   
Profit after tax Rs m102,1664,382 2,331.5%  
Gross profit margin %11.66.8 170.1%  
Effective tax rate %30.448.4 62.9%   
Net profit margin %7.21.5 478.5%  
Current assets Rs m1,078,744431,935 249.7%   
Current liabilities Rs m992,443222,115 446.8%   
Net working cap to sales %6.172.5 8.4%  
Current ratio x1.11.9 55.9%  
Inventory Days Days1779 21.0%  
Debtors Days Days96287 33.4%  
Net fixed assets Rs m351,13432,760 1,071.8%   
Share capital Rs m2,8067,343 38.2%   
"Free" reserves Rs m620,943316,007 196.5%   
Net worth Rs m623,748323,350 192.9%   
Long term debt Rs m741,208572 129,627.1%   
Total assets Rs m2,791,341635,447 439.3%  
Interest coverage x8.97.3 122.2%   
Debt to equity ratio x1.20 67,198.5%  
Sales to assets ratio x0.50.5 110.9%   
Return on assets %4.31.1 394.7%  
Return on equity %16.41.4 1,208.7%  
Return on capital %12.04.5 264.2%  
Exports to sales %00.6 0.0%   
Imports to sales %08.0 0.0%   
Exports (fob) Rs mNA1,824 0.0%   
Imports (cif) Rs mNA23,274 0.0%   
Fx inflow Rs m202,12013,090 1,544.1%   
Fx outflow Rs m202,12424,820 814.4%   
Net fx Rs m-4-11,730 0.0%   
From Operations Rs m-47,1699,891 -476.9%  
From Investments Rs m-109,9949,612 -1,144.3%  
From Financial Activity Rs m154,410-6,674 -2,313.6%  
Net Cashflow Rs m-2,75312,829 -21.5%  

Share Holding

Indian Promoters % 0.0 63.1 -  
Foreign collaborators % 0.0 0.0 -  
Indian inst/Mut Fund % 36.5 16.6 219.6%  
FIIs % 19.6 15.9 123.3%  
ADR/GDR % 2.3 0.0 -  
Free float % 41.5 4.4 943.2%  
Shareholders   802,712 390,318 205.7%  
Pledged promoter(s) holding % 0.0 0.0 -  
NM: Not Meaningful
Source: Company Annual Reports, Regulatory Filings, Equitymaster


Compare L&T With:   DONGFANG ELEC. (China)  SHANGHAI ELEC. (China)  ANSALDO STS (Italy)  ABB (Switz.)  

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L&T 2018-19 Annual Report Analysis (Annual Result Update)

Jul 8, 2019 | Updated on Jul 8, 2019

Here's an analysis of the annual report of L&T for 2018-19. It includes a full income statement, balance sheet and cash flow analysis of L&T. Also includes updates on the valuation of L&T.

BHEL Announces Quarterly Results (4QFY19); Net Profit Up 49.3% (Quarterly Result Update)

May 29, 2019 | Updated on May 29, 2019

For the quarter ended March 2019, BHEL has posted a net profit of Rs 7 bn (up 49.3% YoY). Sales on the other hand came in at Rs 103 bn (up 1.5% YoY). Read on for a complete analysis of BHEL's quarterly results.

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L&T Announces Quarterly Results (4QFY19); Net Profit Up 13.4% (Quarterly Result Update)

May 13, 2019 | Updated on May 13, 2019

For the quarter ended March 2019, L&T has posted a net profit of Rs 39 bn (up 13.4% YoY). Sales on the other hand came in at Rs 449 bn (up 10.5% YoY). Read on for a complete analysis of L&T's quarterly results.

BHEL Announces Quarterly Results (3QFY19); Net Profit Up 25.3% (Quarterly Result Update)

Feb 13, 2019 | Updated on Feb 13, 2019

For the quarter ended December 2018, BHEL has posted a net profit of Rs 2 bn (up 25.3% YoY). Sales on the other hand came in at Rs 73 bn (up 10.7% YoY). Read on for a complete analysis of BHEL's quarterly results.

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