On Tuesday, shares of one of India’s leading infrastructure company rose nearly 1 percent marginally to Rs 3,660.50 per share after the company received a significant International order from the Kingdom of Saudi Arabia.
Larsen & Toubro Ltd is a Large-cap stock with a market capitalization of ₹ 4,93,696 crore, On Tuesday, At 3:06 p.m., the shares were trading at ₹3,953.45, down 1.11 percent from the previous close price.
According to the company’s exchange filing, The Heavy Engineering arm of Larsen & Toubro has won multiple significant orders in the domestic and international markets.
L&T Heavy Engineering (HE)’s Modification, Revamp, and Upgrade (MRU) business segment has bagged a major order from a key oil and gas customer in The Kingdom of Saudi Arabia for their important debottlenecking project.
In another development, the business has also won the DCU Revamp Project from one of the leading refineries in the domestic market.
On the domestic front, L&T HE received orders to manufacture VGO Reactor, Critical CrMo-V Reactor, and proprietary design high-pressure Heat Exchangers for a refinery project. The business also secured an order for a Carbamate Condenser from RCF Mumbai for their Urea Plant.
According to Larsen & Toubro, project classification if the order is between Rs 1,000 crore and Rs 2500 crore considered Significant orders, followed by large orders are between Rs 2,500 crore and Rs 5,000 crore, major orders between Rs 5,000 crore and Rs 7,000 crore, and mega orders between Rs 10,000 and Rs 15,000 crore.
The shares of Larsen and Toubro Ltd gained 38 percent in the last six months and 60 percent in a year.
The Company’s return on equity increased from 10.52 percent in FY22 to 11.72 percent in FY23, while the return on capital employed rose from 10.91 percent to 11.99 percent during the same period.
The company’s revenue has increased by 19 percent year on year, from ₹42,763 crore in Q2FY23 to ₹51,024 crore in Q2FY24. During the same period, Net profit has significantly increased by 38 percent from ₹2,785 crore to ₹ 3,846 crore.
Larsen & Toubro Ltd is a multinational conglomerate that is engaged in engineering, procurement, and construction (EPC) solutions in key sectors such as Infrastructure, Hydrocarbon, Power, Process Industries and Defence, Information Technology, and Financial Services in both domestic and international markets.
Written by Omkar Chitnis
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