The share of this blue-chip company gained 1 percent in Monday’s trading session after receiving multiple orders for its Power Transmission & Distribution (PT&D) Business.
With a market capitalization of Rs 3.93 lakh crore, Larsen & Toubro Ltd started its Monday’s trading session at Rs 2,889 and went on to hit an intraday high of Rs. 2,923 making a gain of around 1 percent. The stock closed its trading session at Rs 2,926 apiece.
In an exchange filing the company mentioned that it has secured key and large orders in India and overseas, in the current quarter. L&T classifies the large orders in values that are between Rs. 2500 cr to Rs 5000 cr.
The company has received an order in Chhattisgarh for establishing 400kV & 220kV transmission lines to help the state’s electricity transmission grid.
The company has won an order for the turnkey construction of a 380kV Substation with associated overhead transmission lines in Saudi Arabia.
The company has bagged another order in the State of Kuwait to build 5 Substations to provide reliable and efficient power supply to an upcoming residential city.
Furthermore, additional orders have been won in ongoing substation orders in Qatar, and in Malaysia, the company has bagged an order to establish a 275kV Underground Cable system and planned to double the power transmission capacity in the existing network.
Coming on to the financial statement of the company, the company revenue was Rs 47,882 cr during Q1 FY24 and the net profit was Rs 2,493 cr during the same period.
Looking at the important ratios, the return on equity marginally increased from 13.07 percent during FY21-22 to 14.8 percent in FY22-23. In addition to this, the return on capital employed increased by 11.61 percent to 12.98 percent keeping the timeframe the same.
According to the latest shareholding pattern, the company has zero Promoters holding as it is managed by professionals, the Public (Retail investor) has 36.89 percent of holdings, the company has a high DII holding of 37.44 percent of shares where LIC holds 11.35 percent in it, and remaining 25.67 percent is with FIIs.
Larsen & Toubro Ltd, commonly known as L&T, is an Indian multinational conglomerate company, which has expertise in engineering, construction, manufacturing, technology, and information technology.
Written By Vaibhav Patil
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