Larsen & Toubro (L&T) will announce their Q2 numbers on Wednesday. There is certainly a little bit of pick up when it comes to execution, however on a year-on-year (YoY) basis, it may still be a sombre quarter.

Expect a 12 percent decline in terms of revenues, a little more contraction as much as 170 basis points in terms of its EBITDA, margins coming in at around 9.7 percent and profits are likely to see a decline of 50 percent YoY.

In terms of order flows, the expectation is Rs 20,000-25,000 crore not unlike what we have seen in Q1. This time around it could be slightly higher. Also, EPC segment has seen a pickup which is why the declines in that particular segment will be a lot less than its overall numbers.

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