The shares of this multinational conglomerate company gained up to 2 percent after the company received an order for its buildings and factories business from Hites.
With a market capitalization of Rs 4.91 lakh crore, the shares of Larsen & Toubro Ltd were trading at Rs 3573.25 per share, increasing around 2.09 percent as compared to the previous closing price of Rs 3,500.25 apiece.
According to the company filing, Larsen & Toubro Ltd received a significant order under 1,000 crore to 2,500 crore for its buildings and factories business from Hites under the Ministry of Health and Family Welfare.
Furthermore, the scope of work includes civil structure, finishes, and allied MEP services such as built-in furniture, medical gas piping supply, installation, testing, and commissioning, modular OT, pneumatic tube system, nurse call system, central sterile supply department, and external development works such as landscaping.
Larsen & Toubro Ltd categorizes projects into five categories: significant orders (Rs 1,000-2,500 crore), large orders (Rs 2,500-5,000 crore), major orders (Rs 5,000-10,000 crore), ultra orders (Rs 10,000-15,000 crore), and ultra mega orders (>Rs 15,000 crore).
Looking into Larsen & Toubro Ltd’s performance, revenue climbed by 19 percent from Rs 42,763 Crore in Q2FY23 to Rs 51,024 Crore in Q2FY24. During the same duration, net profit climbed by 38 percent from Rs 2,785 crore to Rs 3,846 crore.
As of March 31, 2023, the Order Book at Rs 3.99 lakh crore is huge, increasing, and diverse. The Infrastructure section accounts for 71% of the combined Order Book. The Order Book increased by 12% due to orders acquired in the Projects businesses.
As of March 31, 2023, the L&T Group consisted of 92 subsidiaries, 5 associate businesses, 27 joint ventures, and 35 jointly owned activities. Out of the 159 firms, 49 are listed subsidiaries, while 20 are associated with Development Projects.
Larsen & Toubro Ltd is a worldwide company that primarily provides engineering, procurement, and construction (EPC) solutions in major areas such as infrastructure, hydrocarbon, power, process industries, and defense.
Written by:- Abhishek Singh
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