New order inflows in Q4 tepid so far for engineering, capital goods

The trend for new orders won or awarded in the first two months of the current quarter appear tepid compared to a year ago, shows brokerage estimates and company disclosures.

 

According to Antique Stock Broking, for February, projects awarded remained flat year-on-year (Y-o-Y) at Rs 56,000 crore. Those at ICICI Securities noted a similar trend for the defence segment, stating orders have started to flow but the pace remains muted.

 

Data compiled for the country’s largest engineering firm Larsen & Toubro (L&T) confirms sluggishness, when compared to a year ago.

 

So far in Q4, up to March 19, L&T reported