Larsen & Toubro is involved in engineering, construction, and manufacturing operations worldwide. The company has a market cap of Rs. 4,34,169 crore and is 1% away from its 52 week high. Today the volumes for the stock have been 0.1x both the weekly and the monthly average volumes. The stock is on a steady uptrend since July 2022 and has given around 80% returns since.
L&T classifies Significant orders as orders worth Rs. 1000 to 2500 crore; Large orders range from Rs. 2500 to 5000 crore; Major value orders are those that range from Rs. 5000 to 7000 crore. Mega Value projects are those that exceed Rs. 7000 crore.
A prestigious client in the Middle East has signed a Letter of Intent for a Mega onshore project with L&T, according to a filing dated October 11, 2023. Engineering, purchasing, and building Gas Compression Plants, which include Gas Inlet Facilities, Gas Compression System, Produced Water Handling, Propane Refrigeration System, Condensate Transfer, and Utilities for Gas Compression Facilities in new onshore facilities, as well as their integration with existing Gas Compression Plants, are all included in the scope of work.
The Power Transmission & Distribution division of L&T Construction will construct 3 No. 230 kV Extra High voltage substations to meet the power supply needs of the Gas Compression Plants.
Commenting on this, L&T Chairman & Managing Director Mr S N Subrahmanyan said: “One doesn’t get to win such an order every day. This is something unique for L&T and a matter of pride for India – for we are a true Indian multinational. This also shows our capabilities to perform and deliver on time and the enormous trust that our client has on us to manage such complex projects.”
Adding to this, Mr Subramanian Sarma, Whole-time Director and Senior Executive Vice President (Energy), said: “Earning such a large order from a reputed customer is a reflection of our consistent commitment to excellence, quality, and customer satisfaction. We are deeply honored by customer faith and will continue to deliver execution par excellence.”
As a USD 23 billion Indian multinational company, Larsen & Toubro is involved in EPC Projects, Hi-Tech Manufacturing, and Services. It operates internationally in more than 50 nations.
L&T has been able to achieve and maintain leadership in its major business sectors for eight decades thanks to a strong, customer-focused approach and a never-ending pursuit of world-class quality.
Written by Sandeep R
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