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DisclaimerThis presentation contains certain forward looking statements concerning L&T’s
future business prospects and business profitability, which are subject to a
number of risks and uncertainties and the actual results could materially differ
f h h f d l k h k dfrom those in such forward looking statements. The risks and uncertainties
relating to these statements include, but not limited to, risks and
uncertainties, regarding fluctuations in earnings, our ability to manage
growth competition (both domestic and international) economic growth in Indiagrowth, competition (both domestic and international), economic growth in India
and the target countries for exports, ability to attract and retain highly skilled
professionals, time and cost over runs on contracts, our ability to manage our
international operations, government policies and actions with respect tointernational operations, government policies and actions with respect to
investments, fiscal deficits, regulations, etc., interest and other fiscal costs
generally prevailing in the economy. The company does not undertake to make
any announcement in case any of these forward looking statements become
materially incorrect in future or update any forward looking statements made
from time to time by or on behalf of the company.
17th May 2010 2
Presentation Outline
L&T Parent Performance
Segmental Performance
Group Performance
Sectoral Opportunities
& Outlook
17th May 2010 3
Presentation Outline
L&T Parent Performance
Segmental Performance
Group Performance
Sectoral Opportunities &
Outlook
17th May 2010 4
Performance HighlightsAll figures in Rs. Billion
Key Parameters Q4 FY10 Q4 FY09 FY10 FY09
Order Inflow 238.43 125.17 90% 695.72 516.21 35%
Change Change
All figures in Rs. Billion
Order Book - 31st March 1,002.39 703.19 43%
N t S l l RMC 133 75 104 69 28% 366 75 330 41 11%Net Sales excl. RMC 133.75 104.69 28% 366.75 330.41 11%
Company level EBITDA Margins 15.1% 14.0% 1.1% 13.0% 11.6% 1.4%
PAT before Exc. & Extraord. Items 13.42 11.42 17% 31.85 27.09 18%
PAT after Exc. & Extraord. Items 14.38 9.99 44% 43.76 34.82 26%
Stellar Allround
5
Performance
Sustaining Growth
516
696
Order Inflow
on 336
367
Net Sales
on
224306
420
Rs.
Billi
o
147 176249
Rs.
Billi
o
FY 06 FY 07 FY 08 FY 09 FY 10 FY 06 FY 07 FY 08 FY 09 FY 10
O d B k R i PAT
703
1002
Order Book
n 21 027.1
31.9
Recurring PAT
n
249369
527
Rs.
Bil
lio
8.613.9
21.0R
s. B
illi
o
17th May 2010 6FY 06 FY 07 FY 08 FY 09 FY 10 FY 06 FY 07 FY 08 FY 09 FY 10
Order Inflow & Order Book
695.72
Order Inflow
35%1002.39
Order Book
43%
516.21 703.19
43%
90%
125.17
238.43 90%
Q4 FY09 Q4 FY10 FY09 FY10 FY09 FY10
717th May 2010 7All figures in Rs. Billion
Order Inflow & Order Book – FY10
Sectoral Break-up
33%
27%
30%
33%
15%
20%
16%
13%
6%
7%
Order Book: Rs 1002 39 Bn
Order Inflow: Rs. 695.72 Bn
33% 30% 15% 16% 6%
Infrastructure Power Hydrocarbons Process Others
Rs. 1002.39 Bn
InfrastructureRoads & BridgesPorts & Harbours
PowerGenerationEquipments
HydrocarbonsUpstream Mid &
ProcessMinerals & Metals
OthersShipbuildingDefense &
AirportsRailwaysBuildings & FactoriesUrban Infra
Electrification / Transmission & Distribution
DownstreamPipelinesValves
Bulk Material HandlingFertilizer
AerospaceConstruction & Mining Eqpt.Electrical & Electronic ProductsUrban Infra
WaterElectronic ProductsTechnology Services
17th May 2010 8
Order Inflow & Order Book – FY10
95% 4% 1%Order Inflow
93% 4% 3%
Domestic Middle East OthersG hi l
Order Book
Geographical Break-up
59% 38% 3%Order Inflow
53% 40% 7%Order Book
17th May 2010 9
Customer Profile
Public Private Devl. Projects - L&T
Performance Summary - ToplineQ4 FY10 Q4 FY09
% Change
Rs. Billion FY10 FY09%
Change
133.75 104.69 28% Net Sales 366.75 336.47 9%
15.49 20.02 --- Exports 64.46 64.60
2.10 1.36 Other Operational Income 3.60 2.92
135.85 106.05 28% Total Net Revenues 370.35 339.39 9%
Excluding RMC Business
133 75 104 69 28% Net Sales 366 75 330 41 11%
Yearly sales growth driven by execution pickup in Q4
133.75 104.69 28% Net Sales 366.75 330.41 11%
Yearly sales growth driven by execution pickup in Q4Sales Growth driven by Building & Factories, Railways, Power T&D and Process segmentsExport markets yet to recover
1017th May 2010 10
Performance Summary – Operational Costs
Rs Bn% to Total
Net RevenuesRs Bn
% to Total Net Revenues
Rs Bn% to Total
Net RevenuesRs Bn
% to Total Net Revenues
Q4 FY10 Q4 FY09
Particulars
FY10 FY09
104.08 76.6% 78.66 74.2% Manf., Cons. & Opex (MCO) 284.53 76.8% 262.72 77.4%
6.14 4.5% 4.89 4.6% Staff Costs 23.79 6.4% 19.74 5.8%
5.12 3.8% 7.66 7.2% Sales, adm. & other Exp. 13.87 3.8% 17.70 5.2%
115.34 84.9% 91.21 86.0% Total Operational Costs 322.19 87.0% 300.16 88.4%
Increase in MCO Expenses in Q4 led by Commodity price step-upIncrease in Staff costs on account of increase in manpower, annual rewards salary revisions and incrementsrewards, salary revisions and incrementsReduction in SGA due to effective forex hedging and expense control
1117th May 2010 11
Performance Summary – Profitability
Q4 FY10 Q4 FY09%
Change Rs. Billion FY10 FY09
% Change
20.51 14.84 38% EBITDA 48.16 39.22 23%
15.1% 14.0% EBITDA Margins 13.0% 11.6%
(1.36) (0.47) 189% Interest Expenses (5.05) (4.16) 22%
(1.16) (0.89) 31% Depreciation (4.15) (3.06) 35%
3.30 2.35 Other Income 9.10 7.40
(7.87) (4.41) Provision for Taxes (16.21) (12.31)
13.42 11.42 17% PAT before Exceptional Items 31.85 27.09 18%
0.96 (1.43)Extraordinary & Exceptional Items (Net of tax)
11.91 7.73
14.38 9.99 44% Profit after Tax 43.76 34.82 26%
Yearly Margin improvement driven by favourable commodity prices for the better part of FY10 and operational cost efficienciesIncrease in Interest cost due to higher average borrowingsDepreciation charge in line with increased capexIncrease in other income boosted by dividend from Subs. and profit on Satyam stake sale
1217th May 2010 12
on Satyam stake sale
Performance Summary – Balance Sheet
Networth and Loan funds includes proceeds from QIP and FCCB resp.
Rs. Billion Mar-10 Mar-09Increase / (Decrease)
N t W th 183 12 124 59 58 53 Q pGross D/E ratio: 37% Vs 53%Capex Outlay Rs. 15.6 Bn Segmental Net Working
Net Worth 183.12 124.59 58.53
Loan Funds 68.01 65.56 2.45
Deferred Tax Liabilities (Net)
0.77 0.49 0.28 Segmental Net Working Capital has improved from 11.7% to 7.6% driven by higher
(Net)
Total Sources 251.90 190.64 61.26
Net Fixed Asset 63.66 51.94 11.72
Current Investments 79 65 48 80 30 85 Customer advancesIncrease of Rs. 2.9 Bn in Unallocable Corporate Net Current Assets mainly
Current Investments 79.65 48.80 30.85
Invt./ICDs/Loans & Advances to S&A Cos
76.79 51.08 25.71
Other Investments 5.49 3.52 1.97 Current Assets mainly due to increase in bank balances
Net Current Assets 26.31 35.30 (8.99)
Total Applications 251.90 190.64 61.26
1317th May 2010 13
Cash Flow StatementRs. Billion FY 10 FY 09
Operating Profit 52.44 44.66
Adjustments for Working Capital Changes 17.58 (21.14)
Direct Taxes (Paid) / Refund - Net (15.19) (8.73)
Net Cash from Operations 54.83 14.79
Investments in Fixed Assets (Net) (15.60) (19.80)
(Investment) / Divestment in S&A and JVs (Net) (24.89) (11.71)
(Purchase)/Sale of Long Term & Current Investments (Net) (21.49) (4.91) ( )/ g ( ) ( ) ( )
Loans/Deposits made with S&A / Others (4.95) (12.52)
Interest & Dividend Received from Investments 4.92 4.64
Cash Received on sale of business (CY: PDP; PY: RMC) 1.29 11.21
Net Cash used in Investing Activities (60 72) (33 09) Net Cash used in Investing Activities (60.72) (33.09)
Proceeds from Issue of Share Capital 21.33 0.23
Net Borrowings (Including FCCB issue) 3.64 23.61
Dividends & Interests paid (12.51) (7.43)
h f i i i i iNet Cash from Financing Activities 12.46 16.41
Net (Dec) / Inc in Cash & Cash Equivalents 6.57 (1.89)
Cash & Cash Equivalents - Opening 7.75 9.64
Cash & Cash Equivalents - Closing 14.32 7.75
17th May 2010 14
Presentation Outline
L&T Parent Performance
Segmental Performance
Group Performance
Sectoral Opportunities &
Outlook
17th May 2010 15
Segmental Break-up – FY10
Machinery & Industrial Others
Net Revenues
Engineering &
Construction86.0% (82 5%)
Electrical & Electronics
7 3%
Industrial Products 5.7% (7.0%)
Others 1.0% (3.1%)
(82.5%)7.3% (7.4%)
Machinery & Industrial Products 8 9%
Others 1.0% (1 5%)
EBITDA
Engineering &
Construction82.1% (80.3%)
Electrical & Electronics
8.0% (7.5%)
8.9% (10.7%)
(1.5%)
Figures in the bracket indicate Previous Year’s Composition
16
Figures in the bracket indicate Previous Year s Composition
17th May 2010 16
‘Engineering & Construction’ Segment% %
Q4 FY10 Q4 FY09%
ChangeRs. Billion FY10 FY09
% Change
220.57 112.92 95% Total Order Inflows 638.99 454.18 41%
8.45 25.10 --- Exports 29.31 65.75
Total Order Book 983 86 687 53 43%Total Order Book 983.86 687.53 43%
--- Exports 71.28 100.63
119.69 91.72 30% Total Net Revenues 318.42 279.91 14%
13.19 16.81 --- Exports 56.26 51.36
19.07 14.67 30% EBITDA 43.39 36.31 19%
15.9% 16.0% EBITDA Margins 13.6% 13.0%
Net Segment Assets 62.91 64.62 -3%
Robust Growth in Order Inflow – across all sectors led by PowerInternational Business still sluggishImprovement in Execution environment in Q4Improvement in Execution environment in Q4EBITDA benefited through favourable commodity prices – leveled off in Q4Net Segment assets reduction through lower working capital
17th May 2010 17
‘Electrical & Electronics’ Segment
Q4 FY10 Q4 FY09%
ChangeRs. Billion FY10 FY09
% Change
8.63 6.94 24% Total Net Revenues 26.94 25.12 7%
0 79 1 23 E t 2 74 4 29 0.79 1.23 ---Exports 2.74 4.29
1.43 0.89 61% EBITDA 4.23 3.39 25%
16.6% 12.9% EBITDA Margins 15.7% 13.5%
Net Segment Assets 11.32 12.47 -9%g
Q4 Sales growth led by Domestic Industrial recovery; International operations still subduedSmart improvement in EBITDA margins due to:
Favourable product mixFavourable product mixCost Rationalisation
Net Segment Assets driven by improved working capital management
17th May 2010 18
‘Machinery & Industrial Products’ Segment
Q4 FY10 Q4 FY09%
ChangeRs. Billion FY10 FY09
% Change
6.53 6.07 8% Total Net Revenues 21.35 23.97 -11%
0.50 1.60 ---Exports 2.06 5.87
1.51 1.14 33% EBITDA 4.71 4.85 -3%
23.1% 18.7% EBITDA Margins 22.1% 20.2%
Net Segment Assets 2.24 4.13 -46%
Q4 Revenues indicative of sequential recoveryExport business affected by global slowdown (Mainly valves)Improvement in EBITDA margins driven by operating leverageSmart reduction in Net Segment Assets led by allround reduction in working capital
17th May 2010 19
Presentation Outline
L&T Parent Performance
Segmental Performance
Group Performance
Sectoral Opportunities &
Outlook
17th May 2010 20
Consolidated P&L Statement
L&T
FY10 FY10 FY09 % Change
370.35 Total Net Reveunes (Net Sales + Other O i l I )
439.70 405.11 9%
Rs BillionL&T Group
370.35 Operational Income)
439.70 405.11 9%
48.16 EBITDA 64.39 50.24 28%
13.0% EBITDA Margins 14.6% 12.4%
(5.05) Interest Expenses (6.92) (5.28)
(4.15) Depreciation (9.79) (7.28)
9.10 Other Income 7.60 5.76
(16.21) Provision for Taxes (18.66) (14.23)
31.85 PAT (before Exceptional Items) 36.62 29.21 31.85 PAT (before Exceptional Items) 36.62 29.21
- Share of profits in Associate Cos. 1.06 0.51
- Minority Interest 0.29 0.35
31.85 PAT after Minority Interest (before Exceptional Items)
37.97 30.07 26%Exceptional Items)
11.91 Extraordinary & Exceptional Items (Net of tax & Minortiy Interest)
16.54 7.82
43.76 Profit After Tax 54.51 37.89 44%
17th May 2010 21
Consolidated Balance SheetL&T
Mar-10 Mar-10 Mar-09 Inc/(Dec)
183.12 Net Worth 209.91 139.87 70.04
- Minority Interest 10.88 10.59 0.29
Rs. BillionL&T Group
y
Loan Funds:
- Financial Services 95.05 62.16 32.89
- Dev. Projects 55.75 43.23 12.52
68.01 Others 75.76 78.61 (2.85) 68.01 Others 75.76 78.61 (2.85)
- Deferred Payment Liabilities 19.51 19.70 (0.19)
0.77 Deferred Tax Liabilities (Net) 1.53 1.31 0.22
251.90 Total Sources 468.39 355.47 112.92
63 66 Net Fixed Asset 98 51 74 12 24 39 63.66 Net Fixed Asset 98.51 74.12 24.39
79.65 Current Investments 85.60 52.18 33.42
76.79 Invt./ICDs/Loans & Advances to S&A Cos
5.06 4.89 0.17
5.49 Other Investments 8.62 11.03 (2.41) ( )
26.31 Net Current Assets 63.62 54.76 8.86
- Dev. Business Assets 97.63 87.39 10.24
- Loans towards financing activities 109.35 71.10 38.25
17th May 2010 22
251.90 Total Applications 468.39 355.47 112.92
L&T Infotech
Revenues (Rs. Bn) PAT (Rs. Bn)
5.67 5.12
4.974.57
0.81 0.73 0.65
0.90
4.52
4.73
4.69 5.24
0.61 0.60
0.57 0.59
FY09 FY10
Q1 Q2 Q3 Q4
FY09 FY10
Q1 Q2 Q3 Q4
FY09 FY10 FY09 FY10
◊ YoY Revenue contraction due to slowdown in US and Europe markets
FY09 FY1020.40 19.11
FY09 FY102.66 2.80
17th May 2010 23
◊ o e e ue co t act o due to s o do US a d u ope a ets◊ Q4 FY10 PAT indicative of sequential improvement
Financial Services
FY10 FY09%
ChangeFY10 FY09
% Change
Total Income PAT
Rs. Billion
L&T Finance Limited 9.86 7.96 24% 1.56 0.99 58%
L&T Infrastructure Finance Limited 4.52 2.96 53% 1.11 0.77 45%
L&T Finance Revenue growth led by Rural Equipment Finance and Micro Finance PAT M i i t d i b N t I t t M i PAT Margin improvement driven by Net Interest Margin expansionBusiness Assets: Rs. 70 Bn
L&T Infra FinanceL&T Infra FinanceRevenue Growth driven by most infrastructure segments (Power, telecom, roads, etc)Business Assets: Rs. 43 Bn
17th May 2010 24
Developmental Projects (as on date)
Roads and Bridges:Portfolio: 14 projects; 7 operational, 7 under implementationDevelopment: 5328 lane kmDevelopment: 5328 lane kmProject Outlay: Rs. 127 Bn
Ports:Portfolio: 3 projects; 1 operational, 2 under implementationCapacity: 34 Mn TPAProject Outlay: Rs. 53 Bn
Urban Infrastructure:Portfolio: 20 projects; 7 operational, 13 under implementationArea: 28 Mn sq. ft.Project Outlay: Rs. 89 Bnj y
Total Project Cost (March 2010): Rs. 269 Bn
Total Equity Invested (March 2010): Rs. 22.8 BnTotal Equity Commitment (March 2010): Rs. 46.1 Bn
17th May 2010 25
Presentation Outline
L&T Parent Performance
Segmental Performance
Group Performance
Sectoral Opportunities &
Outlook
17th May 2010 26
Sectoral Opportunities - InfrastructureEnvironment
Increased budgetary supportIncrease in pace of NHAI awardsThrust on PPP mode
O t iti
Water shortagesReal Estate Pick-up
OpportunitiesRoads & Bridges: National & State HighwaysMetros: Underground & Elevated Metros in Tier I & II citiesMonorail expansion in MumbaiA few large airport prospectsA few large airport prospectsRailways: Rolling Stock facilities, Station Development and DFC Water: Water Supply & Sanitation/ Desalination projects Real Estate: Metro CitiesOpportunities in Healthcare and Tourism Infra
17th May 2010 27
Sectoral Opportunities - Power
EnvironmentPower deficit and increasing energy requirementsGovernments’ plans to speed up Coal linkagesGovernments plans to speed up Coal linkagesIncreasing Private players participation (PPP)Thrust on Supercritical power plant technologyGovernment favoring domestic BTG manufacturersChinese CompetitionChinese CompetitionThrust on Nuclear Power (clean power)T&D capex to speed up
OpportunitiesEPC, BTG & BOP projects for Coal Based power plantsEPC projects for Gas Based Power plantsNuclear power plant construction and equipment supplyuc ea po e p a co s uc o a d equ p e supp yEPC projects for T&D in India and Middle East (Including PPP)
17th May 2010 28
Sectoral Opportunities - Hydrocarbon
EnvironmentCrude – Price stability and demandCrude Price stability and demandHydrocarbon Capex picking upIntense Domestic and International CompetitionMiddle East pick-upSmall signs of pick-up in FPSO and Rig market
Opportunities
S a s g s o p c up SO a d g a e
OpportunitiesEPC projects in Oil Extraction: Process Platforms, Wellhead platforms and subsea pipelinesResidue Upgradation projects in Midstream & Residue Upgradation projects in Midstream & EPC jobs for Downstream projectsConstruction and pipeline jobsRigs & FPSOs in Brazil, Middle East and Domestic
17th May 2010 29
Sectoral Opportunities - ProcessEnvironment
Minerals & MetalsIndia is net importer of steelDemand outpacing capacityp g p yPSU and Private projects still in cautious mode
FertilizersIncrease in demand for Food grains and volatility in International Urea PriceyAvailability of Natural Gas as feedstock with expected high allocation
OpportunitiesEPC projects for capacity expansion plans for both ferrous and non-ferrousDomestic investment in Power Mines Ports Domestic investment in Power, Mines, Ports, Metals industry to provide opportunities for Material Handling SystemsFertilizers: Feedstock Conversion & Expansion Projects
17th May 2010 30
Projects
E i
Outlook
Robust Growth (GDP/IIP)Worrisome Fiscal DeficitInflation is a concern
Economic
Heightened Domestic & International competition
Sectoral
Inflation is a concernAdequate liquidity but tightening policyIncreasing interest ratesEuropean ripplesNo mal monsoon
pStrong Power Gen. capexMiddle East picking upIncreasing NHAI activityT&D spends heading upWater spending likely to
Enablers&
Normal monsoon prediction
Water spending likely to increase
StrategyGrowth Drivers
Capacity expansion
Capability Building
Power (BTG) Nuclear PowerDefenseWater
p y pShipbuilding facilityOman facilitiesBTG factories due to be commissioned soonForging Unit coming up
17th May 2010
WaterRailways
Forging Unit coming upHorizontal & vertical integration
31
Thank You
Some of the largest & heaviest equipments in the world have been manufactured by L&T
India’s biggest marine equipment – an oil & gas
processing complex
manufactured by L&T
Many of the country’s prized landmarks have been built by L&T
Asia’s highest viaduct(Konkan Railway)
processing complex
The world’s longest cross-country conveyor
The world’s largest coal-gasifier (For China)
The World’s largest FCC Regenerator (Wt – 1320 MT)
3232
One of the world’s largest diesel hydro-treater project
for a refinery
88-metre bridge on the Northern Railways’ Jammu-
Udhampur line
17th May 2010
World’s First Chromium-Molybdenum-Vanadium-
Multiwall Ammonia Convertor
Bahai Temple, New Delhi
Annexure 1: Major Orders Booked in Q4 FY10
Description Rs Bn
Ammonia Feedstock Conversion Projects at Punjab & Haryana for National Fertilisers Ltd. 21.56
Aromatics Complex at Mangalore SEZ for ONGC Mangalore Petrochemicals Ltd (OMPL) 20.35
---- Domestic
Aromatics Complex at Mangalore SEZ for ONGC Mangalore Petrochemicals Ltd (OMPL) 20.35
EPC project for Steam Turbine & Generators and Auxillary Packages for 1320 MW Rajpura Thermal Power Project for Nabha Power Limited
14.33
4.17 MMTPA FCC Reactor regenerator Project of a grassroots fuel refinery for IOCL, Paradip 14.00
East Coast Offshore platform for Gujarat State Petroleum Corporation 10.60 East Coast Offshore platform for Gujarat State Petroleum Corporation 10.60
Turnkey project including engineering, procurement, fabrication and installation of 4 Well-Platforms for MHN Re-development project, ONGC
10.13
Design and construction of 36 High SpeedInterceptor Boats for Indian Coast Guard 9.77
Design & Construction of Phase I Campus at CTS SEZ Campus, Tamil Nadu for M/s. Cognizant 5 66
Technology Solutions (I) Pvt. Ltd. 5.66
Construction of Residential towers " The Address" for Wadhwa Group, Mumbai 5.01
Coal Handling Plant for 6X150 MW Mahan Captive Power Plant, Madhya Pradesh for Hindalco 4.00
Design, engineering, procurement, civil works, erection / construction, testing and i i i f th il k f 2X525 MW M ith Ri ht B k Th l P P j t
3.65 commissioning of the railway works of 2X525 MW Maithon Right Bank Thermal Power Project
Construction of 400 Bed, Women & Children Hospital Including Hostel Complex & Other facilities at Puducherry for Jawaharlal Nehru Institute of Post- Graduate Medical Education and Research
3.59
C t t f D i S l I t ll ti T ti & C i i i f MV P S t f
---- Exports
17th May 2010 33
Contract for Design, Supply, Installation, Testing & Commissioning of MV Power System for Abudhabi Ports Company at Khalifa Port and Industrial Zone at Abudhabi
3.82
Annexure 2: Details of Other IncomeRs. Billion FY10 FY09
Recovery from S&A / JV Companies 0.66 0.50
Technical Fees / IJV Profits 0 70 0 65 Technical Fees / IJV Profits 0.70 0.65
Others 2.24 1.77
Total - Other Operational Income 3.60 2.92
Interest Income 1.28 1.72
Dividend from S&A Companies 1.08 0.72
Income from Other Investments 2.79 2.63
Profit on sale of investments 1.40 0.95
Miscellaneous Income 2.55 1.38
Total - Other Income 9.10 7.40
17th May 2010 34
Annexure 3: Details of Extraordinary & Exceptional items
(Amt in Rs. Bn) FY 10 FY 09
Profit on Sale of Investment in Ultratech Cement 10.20 -
Profit on sale of stake in Associate Company 0.52 -
Exceptional Items (Net of Tax)
Profit on part buy-back of shares by Associate Co. 0.23 -
Provision for dimunition in Invst. in a Associate Co. (0.40) -
P i i t d I t t i S t (1 86)
Extraordinary Items (Net of Tax)
Provision towards Investment in Satyam - (1.86)
Profit on Sale of RMC Busines - 9.59
Profit on Sale of PDP Busines 0.73 -
Reversal of provision on part sale of Invst in Satyam 0 63 - Reversal of provision on part sale of Invst. in Satyam 0.63 -
Total 11.91 7.73
17th May 2010 35
Annexure 4: Details of Increase in support to S&A in FY10 –Investment, ICDs and Advance against Equity
Increase in Support to S&A Rs. Bn
L&T Power Development 8.19
Urban Infra SPVs 4.62
L&T Infra Finance 4.25
L&T Shipbuilding 3.74
Road Projects 2.58
IDPL 2.10
L&T Finance 1.25
Forgings 1.11
L&T International FZE 0.89
L&T Power (for MHI JVs) 0.51
L&T Capital (4.80)
Others 1.27
Total 25.71
17th May 2010 36