L&T’s FY27 outcomes diverge across scenarios. Revenue growth spans 10–17%, with P&M margins between 7.5–9.0% and NWC/Revenue ranging 7–13%. EPS shifts from –8% to +20% YoY, shaped by Middle East orders, domestic capex trends, and new ventures in semiconductors and electrolyzers.
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3-Scenario Framework
📊 Base Case (50% Probability)
Key Variables: (1) Middle East orders (TenneT packages 3–4) materialize in H1FY27; (2) Domestic private sector (real estate, thermal power) offsets public sector slowdown.
Outcome: Revenue growth at 14–15%; P&M margins recover to 8.3–8.5% in H2FY27. NWC/Revenue sustains at 9–10%. EPS grows 10–12% YoY, supported by Realty presales and data center ramp-up.
