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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 13.9 -7.5 - View Chart
P/BV x 1.9 0.4 521.0% View Chart
Dividend Yield % 2.0 6.6 30.5%  


5-Yr Chart
Click to enlarge
High Rs1,60791 1,763.7%   
Low Rs66156 1,174.2%   
Sales per share (Unadj.) Rs1,036.141.4 2,505.2%  
Earnings per share (Unadj.) Rs72.91.4 5,307.1%  
Cash flow per share (Unadj.) Rs90.52.0 4,474.1%  
Dividends per share (Unadj.) Rs18.002.00 900.0%  
Dividend yield (eoy) %1.62.7 58.5%  
Book value per share (Unadj.) Rs475.342.0 1,130.4%  
Shares outstanding (eoy) m1,403.897,342.80 19.1%   
Bonus/Rights/Conversions ESOPBB-  
Price / Sales ratio x1.11.8 61.4%   
Avg P/E ratio x15.553.6 29.0%  
P/CF ratio (eoy) x12.536.4 34.4%  
Price / Book Value ratio x2.41.8 136.1%  
Dividend payout %24.7145.5 17.0%   
Avg Mkt Cap Rs m1,591,871541,164 294.2%   
No. of employees `00045.535.5 128.2%   
Total wages/salary Rs m231,14062,689 368.7%   
Avg. sales/employee Rs Th31,997.88,561.3 373.8%   
Avg. wages/employee Rs Th5,084.81,767.3 287.7%   
Avg. net profit/employee Rs Th2,252.6284.5 791.8%   
Net Sales Rs m1,454,524303,677 479.0%  
Other income Rs m23,6096,615 356.9%   
Total revenues Rs m1,478,133310,292 476.4%   
Gross profit Rs m163,29021,379 763.8%  
Depreciation Rs m24,6234,757 517.6%   
Interest Rs m27,9672,880 971.0%   
Profit before tax Rs m134,31020,357 659.8%   
Minority Interest Rs m720-1,856 -38.8%   
Prior Period Items Rs m00-   
Extraordinary Inc (Exp) Rs m00-   
Tax Rs m32,6328,409 388.0%   
Profit after tax Rs m102,39710,092 1,014.7%  
Gross profit margin %11.27.0 159.5%  
Effective tax rate %24.341.3 58.8%   
Net profit margin %7.03.3 211.8%  
Current assets Rs m1,139,163383,487 297.1%   
Current liabilities Rs m1,076,679230,807 466.5%   
Net working cap to sales %4.350.3 8.5%  
Current ratio x1.11.7 63.7%  
Inventory Days Days1498 14.8%  
Debtors Days Days102144 70.8%  
Net fixed assets Rs m469,64032,059 1,464.9%   
Share capital Rs m2,8086,964 40.3%   
"Free" reserves Rs m664,424301,760 220.2%   
Net worth Rs m667,232308,724 216.1%   
Long term debt Rs m823,313955 86,256.0%   
Total assets Rs m3,081,401639,193 482.1%  
Interest coverage x5.88.1 71.9%   
Debt to equity ratio x1.20 39,910.1%  
Sales to assets ratio x0.50.5 99.4%   
Return on assets %4.22.0 208.5%  
Return on equity %15.33.3 469.5%  
Return on capital %10.96.9 158.4%  
Exports to sales %07.3 0.0%   
Imports to sales %015.5 0.0%   
Exports (fob) Rs mNA22,319 0.0%   
Imports (cif) Rs mNA47,185 0.0%   
Fx inflow Rs m101,88037,870 269.0%   
Fx outflow Rs m249,47548,800 511.2%   
Net fx Rs m-147,595-10,930 1,350.4%   
From Operations Rs m66,939-38,857 -172.3%  
From Investments Rs m-82,56319,184 -430.4%  
From Financial Activity Rs m63,716-57 -111,196.7%  
Net Cashflow Rs m46,578-19,731 -236.1%  

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:   SHANGHAI ELEC. (China)  DONGFANG ELEC. (China)  ANSALDO STS (Italy)  ABB (Switz.)  

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Related Views on News

L&T 2019-20 Annual Report Analysis (Annual Result Update)

Aug 6, 2020 | Updated on Aug 6, 2020

Here's an analysis of the annual report of L&T for 2019-20. It includes a full income statement, balance sheet and cash flow analysis of L&T. Also includes updates on the valuation of L&T.

L&T Announces Quarterly Results (1QFY21); Net Profit Down 63.9% (Quarterly Result Update)

Jul 30, 2020 | Updated on Jul 30, 2020

For the quarter ended June 2020, L&T has posted a net profit of Rs 6 bn (down 63.9% YoY). Sales on the other hand came in at Rs 213 bn (down 28.3% YoY). Read on for a complete analysis of L&T's quarterly results.

L&T Announces Quarterly Results (4QFY20); Net Profit Down 16.2% (Quarterly Result Update)

Jun 8, 2020 | Updated on Jun 8, 2020

For the quarter ended March 2020, L&T has posted a net profit of Rs 33 bn (down 16.2% YoY). Sales on the other hand came in at Rs 442 bn (down 1.5% YoY). Read on for a complete analysis of L&T's quarterly results.

BHEL Announces Quarterly Results (3QFY20); Net Profit Down 17.3% (Quarterly Result Update)

Feb 13, 2020 | Updated on Feb 13, 2020

For the quarter ended December 2019, BHEL has posted a net profit of Rs 2 bn (down 17.3% YoY). Sales on the other hand came in at Rs 57 bn (down 22.6% YoY). Read on for a complete analysis of BHEL's quarterly results.

L&T Announces Quarterly Results (2QFY20); Net Profit Down 3.2% (Quarterly Result Update)

Nov 1, 2019 | Updated on Nov 1, 2019

For the quarter ended September 2019, L&T has posted a net profit of Rs 25 bn (down 3.2% YoY). Sales on the other hand came in at Rs 353 bn (up 10.1% YoY). Read on for a complete analysis of L&T's quarterly results.

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