Share price of this large-cap stock and one of India’s leading infrastructure company moved up by 1.25 percent on BSE to hit an intraday high at Rs. 3,475.8 in the trading session of Wednesday, after securing multiple major orders in India as well as abroad.
With a market capitalisation of Rs. 4.73 lakh crore, at 12:32 p.m., the shares of Larsen & Toubro Limited were trading in the green at Rs. 3,445, up by 0.36 percent.
According to the latest regulatory filings with the stock exchanges, the Power Transmission & Distribution (PT&D) business of Larsen & Toubro has secured multiple orders both in India and abroad.
The company has bagged orders to establish two Floating Solar Plants in India, comprising a cumulative floating solar capacity of over 150 MWac, in addition to a ground-mounted Solar PV of 120 MWac capacity.
PT&D has also received orders to build 765 kV Transmission Lines and a Gas Insulated Substation to integrate Solar Energy Zones in Rajasthan and Karnataka. These links will allow the evacuation of renewable energy to load centres across India.
As part of the South Sabah Al-Ahmad City project, the company has been awarded another contract in the State of Kuwait to construct a 400kV Gas Insulated Substation.
The Sultanate of Oman is integrating its multiple standalone electricity networks into a 400 kV national grid. PT&D has been given orders to construct two 400 kV grid stations and a 400 kV overhead transmission line as part of the interconnection and grid strengthening.
Lastly, the company has secured contracts to build two 132 kV substations and related works in the United Arab Emirates.
In terms of financials, the company’s revenue from operations grew by 18.8 percent from Rs. 46,389 crore in Q3 FY22-23 to Rs. 55,127 crore in Q3 FY23-24, accompanied by a rise in net profit of 17.2 percent from Rs. 3,065.93 crore in Q3 FY22-23 to Rs. 3,594.51 crore in Q3 FY23-24.
The stock has delivered positive returns of nearly 45.6 percent in the last one year and around 14.9 percent in the last six months. However, so far in 2024, the company has given about 2.3 percent of negative returns.
Larsen & Toubro Limited is an Indian multinational engaged in Engineering-Procurement-Construction (EPC) Projects, Hi-Tech Manufacturing and Services.
According to the project classification of L&T, its Significant orders range from Rs. 1,000 crore to Rs. 2,5000 crore, Large orders from Rs. 2,500 crore to 5,000 crore, Major orders from Rs. 5,000 crore to 10,000 crore, Mega orders from Rs. 10,000 crore to 15,000 crore and Ultra-Mega orders above Rs. 15,000 crore.
Written by Shivani Singh
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