Analysts expect profit after tax of the company to grow by 14 percent year-on-year to Rs 1,130 crore.
The company will benefit from a low base in third quarter as in a year ago period; it had reported exchange losses of Rs 400 crore.
Revenues are seen going up by 15.2 percent to Rs 16,120 crore from Rs 13,999 crore during the same period.
Earnings before interest, tax, depreciation and amortisation (EBITDA) are likely to rise by 25.8 percent YoY to Rs 1,689 crore in December quarter. EBITDA margin is seen improving 90 basis points YoY to 10.5 percent.
Order inflows / order book
L&T's order book was at Rs 1.59 lakh crore at the end of second quarter of FY13.
Analysts expect order inflows to be a tad bit disappointing in the quarter due to macro headwinds.
The company expected at Rs 16,300 crore worth of orders in Q3, down 5 percent YoY, although reported inflows on the exchanges stood at Rs 10,000 crore for the quarter.
L&T typically announced 60 percent of its order inflows during the quarter. Analysts feel the company should witness an increase in slow moving orders this quarter.
But typically fourth quarter is the strongest quarter for the company in terms of order inflows, say analysts.
According to analysts, the company needs a run rate of over Rs 45,000 crore to achieve its full year guidance on order inflows.
The management has been expecting 15-20 percent growth in topline and targeting order inflows of Rs 84,000 crore - Rs 85,000 crore for FY13.
On the back of lacklustre order inflows and tepid results (expected), brokerages are even estimating downward revision in earnings estimates post results.
Investors should watch out for order inflows, margins and working capital trends.
The stock has been seen a slew of downgrades recently from many brokerages, although brokerages continue to like L&T over BHEL.
According to them, main concerns are order cancellations of approximately Rs 1,500 crore in Q2FY13 plus slow-moving orders which now form around 10 percent of backlog.
Brokerages say order inflow mix is also becoming a concern. Company's new focus area of Middle East and real estate / construction orders fetch poor margins, brokerages add.
Rising working capital is another cause of concern for the company, say analysts.
Brokerages feel now the company will at best be a sector outperformer but will lose the ability to outperform the markets in CY13.
L&T had reported strong numbers in July-September quarter of FY13. Numbers beat street estimates on margins and order inflows.
Revenues grew by 17 percent YoY to Rs 13,196 crore and operating profit margin rose by 25 basis points to 10.7 percent.
EBITDA jumped 20 percent YoY to Rs 1,406 crore and profit after tax increased 42 percent to Rs 1,137 crore from Rs 798 crore during the same period.
Adjusted profit after tax went up 13.7% YoY to Rs 907 crore. PAT was adjusted for two exceptional items amounting to approximately Rs 267 crore.
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