- Larsen & Toubro Limited (L&T) is an Indian multinational engaged in technology, engineering, construction, manufacturing and financial services with global operations. - In Q3 FY13, L&T reported order inflows growth of 14% and order book growth of 11% compared to same period last year. Net sales grew 10% while EBITDA grew 8% for Q3 FY13. - For 9M FY13, order inflows were up 22% at Rs. 601 billion while order book was up 11% at Rs. 1,623 billion compared to same period last year. Net sales grew 17% to Rs. 405.80 billion for 9M

1. Larsen & Toubro Limited
Investor Presentation – Feb 2013
February 2013

2. Disclaimer
This 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 from those in such
forward looking statements.
The risks and uncertainties relating to these statements include, but are not limited to,
risks and uncertainties regarding fluctuations in earnings, our ability to manage
growth, 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 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.
2

3. Presentation Outline
L&T Overview
Business Structure
Financial Performance
Outlook
3

4. Presentation Outline
L&T Overview
Business Structure
Financial Performance
Outlook
4

5. L&T – Sectoral Presence
Infrastructure
Hydrocarbon
Power
Process & Others
5

6. L&T - At a Glance
FY 12 Group
Professionally Revenues:
Managed
` 643 Bn
Company
(US$ 12.8 Bn)
Market Cap AAA Rating
(25th Jan): with Stable
outlook from
`988 Bn
CRISIL &
(US$ 18.4 Bn) ICRA
India’s largest E&C company with interests in Projects, Infrastructure
Development, Manufacturing, IT & Financial Services
6

7. -
100
300
400
500
600
700
800
900
200
1,000
1,100
1,200
1,300
1,400
1,500
Mar '02 45
Sept '02 42
Mar '03 46
Sept '03 80
Mar '04 71
Sept '04 106
Mar '05 129
Sept '05 200
L&T - At a Glance
Mar '06 334
Sept '06 356
Note: Market Cap as on 25th January 2013: ` 988 Bn
Mar '07 459
Sept '07 807
Amt in ₹ Bn
Mar '08 884
L&T Market Cap
Sept '08 715
Mar '09 394
Sept '09 989
Mar '10 979
Sept '10 1,237
Mar '11 1,007
Sept '11 830
Mar '12 800
Sept '12 980
Dec '12 987
7

8. L&T – Shareholding Pattern
Domestic
Mutual Companies,
Funds, 7.0% Govt. Major Shareholders % Shares
5.9% Financial
Institutions Life Insurance Corporation of India 17.0%
L&T &
Employee L&T Employee Welfare Foundation 12.1%
Insurance
Welfare Companies,
Foundation, Administrator of the SUUTI 8.2%
31st Dec 30.9%
12.1%
2012 General Insurance Corp. of India 2.1%
New India Assurance Co. Ltd. 1.1%
Foreign
Individuals, Holdings &
24.0% GDR,
20.1%
Listed with BSE & NSE
L&T is one of the most widely held listed companies in India
No promoter holding
Uninterrupted Dividend payment record since 1946;
FY 12 Dividend of Rs. 16.50 per share (PY: Rs. 14.50 per share)
8

9. Experienced Management Team
A M Naik K Venkataramanan M V Kotwal
Executive Chairman CEO & Managing Director President (Heavy Engineering)
 BE [Mech]  BE [Tech] – IIT, Delhi  BE [Mech], Univ. of Bombay
 Joined L&T in March 1965  Joined L&T in June 1969  Joined L&T in October 1968
 Diverse experience in  Vast experience in product  Vast experience in Heavy
general management, engineering and project Engineering business
Technology and E&C management including manufacture of
critical equipment for
Nuclear Power & Space
Research Program
S. N. Subrahmanyan
Sr. Executive Vice President R Shankar Raman
Shailendra Roy
(Construction) Chief Financial Officer
Sr. Executive Vice President
 B.SC ENGG (CIVIL), MBA  B.Com, ACA, CWA – Power Development
(Finance)  Joined L&T Group in Business & Corp. Affairs
 Joined L&T in November November 1994  BE (Tech)
1984  Vast experience in Finance,  Joined L&T in 2004
 Vast experience in Taxation, Insurance, Risk
 Vast experience in
Design, Engineering Management, Legal and
Thermal Power Business
and Construction Industry Investor Relations
9

10. Corporate Governance
L&T’s essential character revolves around values based on transparency,
integrity, professionalism and accountability
Five-tier Governance Structure
Board
of Directors
Executive Management
Committee (EMC)
Independent Company (IC)
Board
Strategic Business Group (SBG)
Business Unit (BU)
10

11. Journey Towards Excellence
Making it’s Consolidation
The Seeds of Mark & Value
Beginnings Growth Creation
(1938-50’s) (1960-80’s) (1990’s-
2005) (2006-2012)
• Initiated capacity
• 1938: Formed as a • Emerged as one of • Entered into IT, expansion and acquired
partnership the largest & best Financial services Switchgear Company
• 1952: Listed on BSE engineering and Infrastructure (Tamco)
• Commenced trading contractors Concessions • Entry into new ventures
& making dairy • Started production business (MHI JVs, power Eqpt.,
of tractor • Entered into Railways, Shipbuilding,
equipment, Forging)
fabrication serv., undercarriages, Hydrocarbon
• Tie-up with tech majors
war-time ship repair valves, welding Engineering
in defence and nuclear
• Entered components, earth- through JV with power
construction moving equipment technology major • Initiated Foray into
business thro’ and cement • Emerged as India’s power generation
acquisition of ECC • Established a largest integrated • Expansion and listing of
and started fabrication facility E&C company Financial Services
switchgear business and yard on the • Divested cement & • Significant ramp up of
waterfront at Hazira other non-core Concessions Business
for upstream business (glass, • Divested non - core
Hydrocarbon business (RMC & PDP)
tractor, dairy plant
business mfg.) • Restructuring into
multiple verticals
11

12. E&C Delivery Platform
One of Asia’s largest vertically integrated E&C Companies
Design
&
Engineering
EPC
Projects
Manufacture
& Construction
Fabrication
Single point responsibility for turnkey solutions
12

13. Quality Customer Mix
MIAL
Indian Coastguard
13

14. Multiple Alliances & Joint Ventures
Alliances Joint Ventures
Pre qualifications
Befula Investments
Note: Some of these are project specific alliances & pre qualifications
14

15. L&T’s Sustainability Initiative
The L&T Sustainability Report 2012 is a ‘GRI Checked’ , Externally Assured, Application Level A+ report.
In step with MDGs
In the reporting year, we continued to harmonize our social interventions with the eight Millenium Development Goals
(MDGs). The progress is inspiring and we are committed to contribute even to this global mission
Millenium Millenium Millenium
Development L&T's Alignment Development L&T's Alignment Development L&T's Alignment
Goals Goals Goals
Nutritional support in pre-schools Immunisation Developing and enlarging L&T's
Providing access to paediatric green product portfolio
Vocational and life skills training care
Regular health check up in Implementation of 3R (reduce,
Income generation for recycle, reuse) principles
Eradicate extreme schools & pre-schools
poverty & hunger
underprivileged youth and
migrants Reduce Child
Promotion of breast feeding Ensure Watershed development in rural
Mortality
Improve quality of education environmental areas and large scale free
Pre & postnatal care sustainability plantation drives
Providing early childhood
education Health awareness
Promoting education in Skill building programmes in
community Family planning measures Middle East
School infrastructure development Improve maternal
Anaemia control Sharing of best practices with
Achieve universal health
& learning aids, enhancing stakeholders
primary educatiion curriculum and impacting Integration with national health
classroom learning Global Partnership Collaboration & partnership with
programmes
for Development NGO's
Skill development programme Awareness drives and medical
care for malaria and other
Livelihood opportunities for diseases
women Combat HIV / AIDS, Counselling, testing &
Promote gender
Empowering women in malaria & other Antiretroviral Therapy (ART) for
equality & empower
communities diseases HIV/AIDS
women
15

16. Sustainability – Social Measures
Milestones in Community Care – Health Centers
Construction Skills Training Institute (CSTI)
Since inception in 1995, the CSTIs have
empowered 180,000 youth out of which
17,900 youth were trained in 2011-12
Education Initiatives
16

17. Sustainability – Environment Conservation
Energy Conservation Initiatives
Use of Alternate Material Use of Recycled materials
17

18. Presentation Outline
L&T Overview
Business Structure
Financial Performance
Outlook
18

19. L&T’s Business Structure
LARSEN & TOUBRO LTD.
BUSINESS VERTICALS –
SUBSIDIARIES ASSOCIATE COs
INDEPENDENT COMPANIES (ICs)*
BUILDINGS & FACTORIES FINANCIAL SERVICES AUDCO
TRANSPORTATION INFRASTRUCTURE
L&T INFOTECH L&T KOMATSU
HEAVY CIVIL INFRASTRUCTURE
INFRASTRUCTURE SPVs OTHERS
METALLURGICAL & MATERIAL
HANDLING
MHI JVs
POWER T&D
OTHER MANUFACTURING &
HYDROCARBON FABRICATION SUBSIDIARIES
POWER SERVICES AND OTHER
SUBSIDIARIES
HEAVY ENGINEERING
SHIPBUILDING
ELECTRICAL & AUTOMATION
MACHINERY & IND. PRODUCTS * These are not separate legal entities
19

20. Presentation Outline
L&T Overview
Business Structure
Financial Performance
Outlook
20

21. Sustaining Profitable Growth
Order Inflow Net Sales
804 532
695 706 439
` Billion
370
` Billion
517 339
426
250
FY 08 FY 09 FY 10 FY 11 FY 12 FY 08 FY 09 FY 10 FY 11 FY 12
Order Book Recurring PAT
1457 44.1
1,309
36.8
31.8
1,004
27.1
` Billion
` Billion
708 21.0
536
FY 08 FY 09 FY 10 FY 11 FY 12 FY 08 FY 09 FY 10 FY 11 FY 12
21

22. Q3 FY13 Performance Highlights
14% Order Inflows
11% Order Book
10% Sales
8% EBITDA
13% Recurring PAT
22

23. Order Inflow & Order Book – 9M FY13
Amt in ` Bn
Order Inflow Order Book
601
494
195
22%
171 11%
Q3
210 1,623
Q2 161 1,464
Q1
162 196
FY12 FY13 9M FY12 9M FY13
Infra, energy and industrial sectors witnessing a prolonged trough in investment cycle;
Intense competition for select opportunities
Deferral of award decisions continues across sectors
Some early signs of Govt. push on infrastructure investments and fiscal tightening
Portfolio diversity has partially mitigated cyclicality of business
International footprint increasing with thrust on Hydrocarbons & Infrastructure business
23

24. Order Inflow & Order Book – 9M FY13
Sectoral Break-up
Order Inflow:
` 601 Bn 53% 25% 11% 3% 8%
Order Book:
49% 26% 8% 13% 4%
` 1623 Bn
Infrastructure Power Hydrocarbon Process Others
Infrastructure Power Hydrocarbon Process Others
 Roads and  Generation  Upstream  Minerals &  Shipbuilding
Bridges  Equipment  Mid & Metals  Defense &
 Ports  Industrial Downstream  Bulk Material Aerospace
 Airports Electrification  Pipelines Handling  Construction &
 Railways /  T&D  Fertilizer Mining Eqpt.
Metro Rail  Electrical &
 Urban Infra Electronics
 Factories  Technology
 Water Services
24

25. Order Inflow & Order Book – 9M FY13
Domestic Middle East Others
7% 3% 7%
11% 10%
14%
82% 87% 79%
Order Inflow Order Book Sales
Geographical
Break-up
8% 14%
37% 33% 53%
Customer 55%
Profile
Order Inflow Order Book
Private Public (Incl. PSUs) Concessions Business - L&T
25

26. Performance Summary - Sales to EBITDA
Q3 FY13 Q3 FY12 % Change ` Billion 9M FY13 9M FY12 % Change FY12
Net Sales / Revenue from
154.29 139.84 10% 405.80 347.10 17% 531.71
Operations ---(A)
37.03 15.15 144% ----Export Sales 84.60 38.76 118% 62.11
124.37 110.30 13% Mfg, Cons. & Opex (MCO) 317.53 267.08 19% 410.23
10.48 8.63 22% Staff Costs 32.96 26.88 23% 36.63
4.69 7.23 -35% Sales, adm. & other Exp. 15.62 15.81 -1% 22.02
139.54 126.16 11% Total Opex ---(B) 366.11 309.77 18% 468.88
14.75 13.68 8% EBITDA ---(A-B) 39.69 37.33 6% 62.83
Project Revenues in line with execution progress plans; subdued performance by
product businesses
Surge in International revenues driven by Hydrocarbon wins of FY12
Step up in MCO Expenses due to retained inflation and execution cost escalation
Staff cost increase due to manpower augmentation and wage inflation
Q3 SGA pullback due to lesser YoY MTM provisions
26

27. Sales Breakup – Operational Costs & Profitability
Subcontracting Q3 FY13
charges,
26.8%
(21.6%) Material cost,
45.3%
(49.0%)
Other manf.
exp.,
8.5%
(8.3%)
Staff Costs,
6.8%
(6.2%)
Subcontracting 9M FY13
charges,
23.5% Material cost,
Sales, adm. EBITDA, (19.4%) 46.5%
& other Exp., 9.6% Other manf. (49.1%)
3.0% (9.8%) exp.,
(5.1%) 8.3%
(8.4%)
Staff Costs,
8.1%
(7.7%)
Figures in brackets indicate
corresponding period of the Sales, adm.
Previous Year & other Exp., EBITDA,
3.8% 9.8%
(4.6%) (10.8%)
27

28. Performance Summary – EBITDA to PAT
Q3 FY13 Q3 FY12 % Change ` Billion 9M FY13 9M FY12 % Change FY12
14.75 13.68 8% EBITDA 39.69 37.33 6% 62.83
9.6% 9.8% -0.2% EBITDA Margins 9.8% 10.8% -1.0% 11.8%
(2.38) (1.91) 25% Interest Expenses (7.01) (5.45) 29% (6.66)
(2.00) (1.80) 11% Depreciation (5.96) (5.19) 15% (7.00)
5.30 4.24 25% Other Income 14.63 10.13 44% 13.38
(4.45) (4.29) 4% Provision for Taxes (12.09) (11.46) 6% (18.42)
11.22 9.91 13% Recurring PAT 29.26 25.36 15% 44.13
Exceptional / Extraordinary
- 1.97 - 0.43
Items (Net of tax)
11.22 9.91 13% Profit after Tax 31.23 25.36 23% 44.56
EBITDA margins affected by input costs and sluggish volumes
Interest expenses in line with borrowing levels and mix
Depreciation charge corresponds to rise in Fixed Assets block
Q3 Other income led by Treasury gains and surplus asset disposals
Exceptional and extraordinary items in 9M FY13 comprise of divestment
gains, provision write-back and VRS charge
28

29. Performance Summary – Balance Sheet
Incr /
` Billion Dec-12 Mar-12
(Decr)
Net Worth 285.71 252.23 33.48
Non-Current Liabilities 70.19 61.14 9.05
Current Liabilities 349.93 363.20 (13.27)
Total Sources 705.83 676.57 29.26
Fixed Assets 87.69 83.64 4.05
Investments / Loans to S&A Cos 136.95 127.53 9.42
Other Non- Current Investments / Assets 10.10 8.33 1.77
Liquid Assets 67.08 86.92 (19.84)
Other Current Assets 404.02 370.15 33.87
Total Applications 705.83 676.57 29.26
Total Debt: Dec’12 : ` 110 Bn; Sep’12 : ` 120 Bn; Mar’12 : ` 99 Bn
Gross D/E: 0.39
Support to S&A Companies - mainly to Developmental projects
Segmental NWC maintained at 17% of Sales
29

30. Performance Summary – Cash Flow
Q3 9M Q3 9M
` Billion
FY13 FY13 FY12 FY12
Operating Profit 16.51 44.68 16.34 41.49
Adjustments for Working Capital Changes (7.57) (37.73) (11.92) (40.98)
Direct Taxes (Paid) / Refund - Net (6.19) (14.36) (5.57) (14.18)
Net Cash from Operations 2.74 (7.41) (1.15) (13.67)
Investments in Fixed Assets (Net) (0.36) (8.05) (2.94) (10.01)
(Inv.) / Divestment in S&A and JVs and Adv.
(2.07) (8.35) (1.72) (7.46)
towards equity (Net)
(Purchase) /Sale of Long Term & Current
3.26 20.03 (4.12) 15.18
Investments (Net)
Loans/Deposits (made) with S&A / Others 5.28 0.63 (1.34) (4.44)
Interest & Div. Received from Investments 2.15 9.38 3.40 8.09
Net Cash from / (used in) Investing
8.26 13.64 (6.72) 1.36
Activities
Proceeds from Issue of Share Capital 0.65 1.39 0.38 1.63
Net Borrowings (11.79) 6.71 6.57 15.05
Dividends & Interests paid (2.40) (17.34) (1.88) (13.97)
Net Cash from Financing Activities (13.54) (9.24) 5.07 2.71
Net (Dec) / Inc in Cash & Cash Equiv. (2.54) (3.01) (2.80) (9.60)
Cash & Cash Equivalents - Opening 18.58 19.05 10.50 17.30
Cash & Cash Equivalents - Closing 16.04 16.04 7.70 7.70
30

31. Segmental Break-up – 9M FY13
Machinery &
Industrial
Products Others
Electrical & 3.8% 2.5% Engineering
Electronics (5.2%) (1.9%) &
5.5% Construction
(6.1%) 88.2%
(86.8%)
EBITDA
Machinery &
Industrial
Products Others
5.2% 5.5% Engineering
(8.2%) (4.0%) &
Electrical & Construction
Net Revenues Electronics
5.8%
83.5%
(82.4%)
(5.4%)
Figures in brackets indicate corresponding
period of the Previous Year
31

32. Segmental Performance
Segment Q3 FY13 Q3 FY12 % Change ` Billion 9M FY13 9M FY12 % Change FY12
137.78 123.87 11% Net Revenues 358.11 301.30 19% 467.62
E&C
10.4% 11.5% -1.1% EBITDA Margins 11.1% 11.7% -0.6% 12.7%
7.70 7.30 6% Net Revenues 22.27 21.23 5% 30.67
E&E
14.3% 10.9% 3.4% EBITDA Margins 12.5% 10.8% 1.7% 12.7%
5.51 6.14 -10% Net Revenues 15.29 17.82 -14% 23.97
MIP
18.0% 21.1% -3.1% EBITDA Margins 16.3% 19.7% -3.4% 19.9%
3.30 2.54 30% Net Revenues 10.13 6.75 50% 9.45
Others
23.2% 29.0% -5.8% EBITDA Margins 26.0% 25.6% 0.4% 22.4%
E&C
Revenues reflect planned progress on project execution
EBITDA margins impacted by input costs & job mix
E&E
Modest Sales growth due to tight liquidity conditions, sluggish industrial / agri offtake and
aggressive competition
Margin improvement achieved through better price realisations and favorable product mix
MIP
Revenues impacted by sluggish demand in Industrial, construction and mining sectors
Margins declined on rise in input costs, intense competition and low volumes
Others
Revenues mainly from Integrated Engineering Services (IES), currently in ramp-up phase
Q3 Margin volatility due to currency fluctuations and scale-up costs
32

33. Group Performance
33

34. Consolidated P&L Statement – FY12
L&T L& T & L&T Group
Devl. Fin.
` Billion Other
FY12 Projects S ervices FY12 FY11 % Change
S&A
531.71 Income from Operations 10.67 29.97 602.49 643.13 520.44 24%
62.83 EBITDA 5.29 5.72 76.69 87.70 76.77 14%
11.8% EBITDA Margins 49.6% 19.1% 12.7% 13.6% 14.8% -1.2%
(6.66) Interest Expenses (4.58) - (6.44) (11.02) (8.03) 37%
(7.00) Depreciation (3.12) (0.76) (11.92) (15.80) (13.19) 20%
13.38 Other Income - 0.60 7.69 8.29 9.69 -14%
(18.42) Provision for Taxes (0.35) (2.29) (20.15) (22.79) (22.99) -1%
44.13 PAT (before Exceptional Items) (2.77) 3.27 45.88 46.38 42.25 10%
- Share of profits in Associate Cos. 0.02 - 0.44 0.46 0.87 -47%
- Adjustment for Minority Interest 0.12 (0.61) 0.15 (0.35) (0.74) -53%
PAT after Minority Interest (before
44.13 (2.63) 2.65 46.47 46.49 42.38 10%
Exceptional Items)
Extraordinary & Exceptional Items
0.43 - - 0.45 0.45 2.18 -79%
(Net of tax & Minority Interest)
44.56 Profit After Tax (2.63) 2.65 46.92 46.94 44.56 5%
Fin Services includes Gen. Insurance business – subsidiary of L&T
34

35. Consolidated Balance Sheet – FY12
L&T L&T Group
` Billio n
Mar-12 Mar-12 Mar-11 Inc/(Dec)
Net Worth:
- Dev. Projects 95.40 65.73 29.67
- Fin. Services (Including Insurance) 41.76 38.89 2.87
252.23 Others 253.81 223.75 30.07
Elimination (Dev. Proj. & Fin. Serv) (97.10) (77.86) (19.24)
- Minority Interest (Consolidated) 17.53 10.26 7.27
Non-Current & Current Liabilities:
- Dev. Projects 88.41 67.48 20.94
- Fin. Services 208.56 149.78 58.78
- Deferred Payment Liabilities (Dev. Proj.) 44.18 45.12 (0.94)
424.34 Others (Curr. & Non-Curr. Liab.) 537.38 424.20 113.18
676.57 Total Sources 1,189.94 947.34 242.60
83.64 Fixed Assets 155.21 124.70 30.50
90.85 Non-Current Investments 15.65 15.03 0.62
- Fund infusion in Dev. Proj. & Fin. Serv 97.10 77.86 19.24
- Elimination (Dev. Proj. & Fin. Serv) (97.10) (77.86) (19.24)
- Other Non-Current Assets 3.31 1.16 2.15
67.87 Current Investments 62.70 69.03 (6.34)
19.05 Cash & Cash Equivalent 35.22 36.45 (1.23)
415.16 Long Term loans & advances & Other Current Assets 437.55 336.21 101.34
- Dev. Projects Assets 223.03 179.55 43.48
- Financial Services Loan Book / Investments 257.28 185.20 72.09
676.57 Total Applications 1,189.94 947.34 242.60
35

36. Consolidated Cash Flows – FY12
` Billion FY 12 FY 11
Operating Profit 93.06 80.37
Changes in Working Capital (57.32) (7.94)
Direct Taxes (Paid) / Refund - Net (28.52) (26.69)
Net Cash from Operations 7.22 45.74
Investments in Fixed Assets (Net) - Devl. Projects (34.57) (27.31)
- Others (36.47) (41.36)
(Purchase) /Sale of Long Term & Current Investments (Net) 6.53 10.14
Loans/Deposits made with Associate Co. / Others (0.91) (1.45)
Interest & Dividend Received from Investments 6.35 4.66
Net Consideration on acquisition / disposal of subs. / business 0.43 (3.97)
Net Cash used in Investing Activities (58.64) (59.29)
Proceeds from Issue of Share Capital 1.93 3.47
Financial Services IPO proceeds 14.95 -
Net Borrowings - Financial Services 58.78 57.33
- Devl. Projects 20.46 13.07
- Others 56.75 26.56
Loans towards financing activities (Financial Services)* (70.63) (61.90)
Dividends paid (Incl. Dividend tax) (10.63) (9.09)
Interests paid (21.42) (12.65)
Net Cash from Financing Activities 50.19 16.79
Net (Dec) / Inc in Cash & Cash Equivalents (1.23) 3.24
Cash & Cash Equivalents - Opening 36.45 33.22
Cash & Cash Equivalents - Closing 35.22 36.45
* Loans towards financing activities are included under Net Cash from operations under statutory financial statements.
36

37. L&T Infotech Group – 9M FY13
Amount in ` Bn
Total Income Profit after Tax
28.57 4.27
23.58
10.04 1.55
3.13
21% 36%
8.59
Q3 Q3 1.15
Q2 9.76 Q2 1.40
7.62
Q1 Q1 1.05
7.37 8.77 1.32
0.93
FY12 FY13 FY12 FY13
Revenue growth aided by growth across business verticals and tapping potential
expansion of business from existing customer base.
INR Depreciation contributing to buoyancy in topline and bottomline
37

38. L&T Finance Holdings
%
Q3 FY13 Q3 FY12 Amt. ` Billion 9M FY13 9M FY12 % Change FY12
Change
NBFCs1
66.56 55.19 21% Disbursements 155.56 153.25 2% 216.74
5.28% 5.21% 0.07% NIM2 (%) 5.24% 5.34% -0.10% 5.44%
312.31 238.83 31% Loans and Advances 312.31 238.83 31% 256.71
2
2.33% 1.33% 1.00% Gross NPA (%) 2.33% 1.33% 1.00% 1.33%
1.52% 0.89% 0.63% Net NPA2 (%) 1.52% 0.89% 0.63% 0.95%
Investment Management3
120.64 46.16 161% Average AUM 120.64 46.16 161% 38.98
L&T Finance Holdings (Consolidated)
9.93 7.78 28% Total Income 28.49 21.49 33% 30.07
1.19 0.94 27% PAT (before exceptional items) 3.83 3.14 22% 4.55
2.95 0.94 215% PAT 5.59 3.14 78% 4.55
54.15 46.34 17% Networth 54.15 46.34 17% 47.53
270.63 201.41 34% Borrowings 270.63 201.41 34% 210.77
1. Q3 FY13 and 9M FY13 numbers for NBFCs include Housing Finance and Family Credit (post acquisition)
2. Adjusted for MFI
3. Numbers for Q3FY13 and 9M FY13 are post acquisition of Fidelity Mutual Fund.
Past performance may or may not be sustained in the future. Please refer to the website www.lntmf.com for further details
Overall Healthy growth led by diversified business portfolio
Growth in Q3 disbursements contributed mainly by Rural Products segment and Telecom segment in Infra finance
Q3 Exceptional items includes gain on stake sale of Federal Bank
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39. Concessions Business Portfolio
Roads and Bridges:
Portfolio: 19 projects; 11 operational, 8 under implementation
Development: 2092 km
Project Outlay: `217 Bn
Power:
Portfolio: 5 projects; under development / implementation
Capacity: 2970 MW
Project Outlay: ` 215 Bn
Metro:
Portfolio: 1 project; under implementation
Development: 71.16 km
Project Outlay: ` 164 Bn
Ports:
Portfolio: 3 projects; 2 operational, 1 under implementation
Capacity: 45 Mn TPA
Project Outlay: ` 57 Bn
Total Project Cost (Dec 2012): ` 653 Bn
Equity Invested (Dec 2012): ` 52 Bn Balance Equity Commitment (Dec 2012): ` 91 Bn
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40. Presentation Outline
L&T Overview
Business Structure
Financial Performance
Outlook
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41. Outlook : Extrinsic and Intrinsic Pushes and Pulls
Govt. Reforms / Fiscal Push Macro Overview
Import Duty on Power Plant Equipment Weak global economies
Scrapping ‘Go No-Go’ policy INR Depreciation
Resource Shortages
New coal block allotments
Ballooning Subsidies
Direct Transfer of subsidies Business Strong Sluggish Bureaucracy
Postponement of GAAR Strategy Balance
Sheet Sluggish Exports
Restructuring of Interest Rates
SEB Loans Oil Prices
Talent
Hike in Rail Fares Verticalisation
Pool Inflation
New Urea Policy Organisation Fiscal Deficit
Strengths CA Deficit
CCI formation Robust Diversified Slower GDP Growth
Power Tariff Hikes Order Business Nominal GDP Growth
Book Portfolio Capital Markets
Political Re-energising
Tax Collections
Pushing Investment by Execution
Capacity & Urbanisation
cash rich PSU’s Governance
Capability Domestic Savings
Targets for Deficit reduction
Domestic Consumption
FDI in Multi-brand Retail
Deposit / Credit Growth
Cap on subsidised LPG Demographic Profile
Diesel Price Hike / Phased Deregulation Robust monetary policy
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42. Thank You
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