The Directors have pleasure in presenting their 77th Annual Report and Audited Financial Statements for the year ended 31st March 2022.Financial Results
PERFORMANCE OF THE COMPANY:
The total income for the financial year under review was ₹ 1,04,613.06 crore as against ₹ 90,615.77 crore for the previous financial year, registering an increase of 15.45%. The profit before tax from continuing operations including exceptional items was ₹ 10,031.47 crore for the financial year under review as against ₹ 5,318.73 crore for the previous financial year. The profit after tax from continuing operations including exceptional items was ₹ 7,879.45 crore for the financial year under review as against ₹ 3,147.31 crore for the previous financial year, registering an increase of 150.36%
AMOUNT TO BE CARRIED TO GENERAL RESERVE:
The Company has not transferred any amount to general reserve during the current financial year.
The Directors recommend payment of dividend of ₹ 22/- (1,100%) per equity share of ₹ 2/- each on the share capital amounting to ₹ 3,091.06 crore.
The Dividend payment is based upon the parameters mentioned in the Dividend Distribution Policy approved by the Board of Directors of the Company which is in line with regulation 43A of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The Policy is uploaded on the Company’s website at https://www.larsentoubro.com/corporate/about-lt-group/ corporate-policies/.
CAPITAL AND FINANCE:
During the year under review, the Company allotted 473,826 equity shares of ₹ 2/- each upon exercise of stock options by eligible employees under the Employee Stock Option Schemes.
The Company’s Authorized Capital increased from ₹ 5,025 crore to ₹ 8,037 crore pursuant to amalgamation of L&T Hydrocarbon Engineering Limited with the Company vide order dated 28th January 2022 passed by Hon’ble National Company Law Tribunal, Mumbai bench.
During the year, the Company repaid Non-convertible Debentures (NCDs) of ₹ 450 crore and short-term External Commercial Borrowings (ECB) of USD 100 million as per the repayment schedule.