This Indian Multinational Conglomerate, which is one of the leading players in domestic and International Markets, for providing EPC Solutions for multiple sectors, jumped 2 percent after it incorporated a new subsidiary for the semiconductor business. 

In the day’s trade, On December 1, 2023, the shares of Larsen & Toubro closed at Rs. 3,184, up 2.41 percent from its previous day’s close price of Rs. 3,109.20 and its market capitalization is Rs. 4,47,627 Crores. 

On November 29, 2023, Larsen & Toubro Limited incorporated a wholly-owned subsidiary named L&T Semiconductor Technologies Limited. The new subsidiary was formed for the purpose of engaging in the business of fabless semiconductor chip design and product ownership. 

As of September 30, 2023, it has an order book worth Rs. 4,507 Billion and the order book breakdown is as follows Infrastructure orders consist of 67 percent, Energy 24 percent, Hi-Tech Manufacturing 6 percent, and others 3 percent. 

The company’s revenue grew 17.13 percent from Rs. 1,56,521.23 Crores in FY22 to Rs. 1,83,340.7 Crores in FY23, accompanied by increasing profits of Rs. 8,669.33 Crores to Rs. 10,470.72 Crores. 

It has reported a return on equity (ROE) of 14.78 percent and a return on capital employed (ROCE) of 12.98 percent, it is making good returns on its equity and capital employed. 

According to the latest shareholding data available for the September 2023 quarter, the company’s Promoters hold 0.00 percent stake, the Domestic Institutional Investors hold 37.44 percent and the Foreign Institutional Investors (FII) hold 25.67 percent. 

Larsen & Toubro Limited is a multinational conglomerate operating in over 50 countries , which is primarily engaged in providing engineering, procurement, and construction (EPC) solutions in major sectors such as Hydrocarbon, Power, Infrastructure, Information Technology, Defence, and Financial Services in domestic and international markets. 

Written by: Bharath K.S


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