On Friday, shares of one of India’s leading infrastructure firm rose 3.5 percent to ₹3,600 per share after the company commissioned the first indigenously built hydrogen electrolyzer in Gujarat.
Larsen & Toubro Ltd. is a large-cap stock with a market capitalization of ₹ 4,93,052 crore. At 12:05 p.m., the shares were trading at ₹ 3,591.20, up 3.15 percent from the previous close price on the National Stock Exchange.
Larsen & Toubro (L&T) subsidiary L&T Electrolysers Limited commissioned its first indigenously manufactured electrolyzer at the Green Hydrogen Plant at the A M Naik Heavy Engineering Complex in Hazira, Gujarat. With a rated power capacity of 1 MW (expandable to 2 MW), this electrolyzer can produce 200 Nm3/Hr of hydrogen.
The plant is equipped with two stacks and an Electrolyser Processing Unit (EPU) ML-400, L&T Electrolysers Limited, a newly incorporated entity of L&T, is focused on manufacturing pressurized alkaline electrolyzers using the technology from McPhy Energy, France.
The shares of Larsen and Toubro Ltd. gained 33 percent in the last six months and 69 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 ₹46,390 crore in Q3FY23 to ₹55,128 crore in Q3FY24. During the same period, net profit has significantly increased by 17 percent, from ₹3,058 crore to ₹ 3,593 crore.
Larsen & Toubro Ltd is a multinational conglomerate that is engaged in engineering, procurement, and construction (EPC) solutions in key sectors such as infrastructure, hydrocarbons, power, process industries, information technology, and services in both domestic and international markets.
In the December quarter, the company disclosed an order book of ₹4,698 billion. Out of this, 61% of the revenue originated from the Indian market, 36% from the Middle East, 0.4% from the USA and Europe, and 3% from the rest of the world.
Based on segment-wise revenue, the company derived 68% of its revenue from the infrastructure segment, 24% from the energy segment, 5% from the Hi-Tech Manufacturing segment, and 3% from other sources.
Written by Omkar Chitnis
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