L&T Heavy Engineering bags orders in range of Rs 1,000-2,500 crore in India and abroad

L&T’s Heavy Engineering arm wins Rs 1,000 crore–Rs 2,500 crore orders in India and abroad

Larsen and Toubro Ltd. (L&T) on January 8 announced that its Heavy Engineering arm has won multiple ‘significant’ orders worth Rs 1,000 crore to Rs 2,500 crore in the domestic and foreign markets. These orders pertain to the third quarter of financial year 2024-2025.

Foreign orders

L&T said the firm has secured “one of the largest projects” for LNG equipment in USA. It has also secured a “breakthrough order” for a loop reactor in a Propane Dehydrogenation (PDH) Polypropylene (PP) Plant in Turkey.

The company added that the firm has secured a repeat order from an unnamed oil and gas customer in Saudi Arabia for a Fluid Catalytic Cracking Unit (FCCU) revamp project.

L&T further said that it has bagged an order for the supply of critical components for hydrocrackers reactors and high pressure heat exchanges from an unnamed client in Kuwait.

Domestic orders

The Heavy Engineering arm of L&T has secured orders for three urea reactors from Southern Petrochemical Industries, Indian Farmers Fertiliser Cooperative Ltd (IFFCO), and Indorama India Private Ltd. L&T said the urea reactor that they will build for Southern Petrochemical Industries is set to become India's longest urea reactor.

Stock

L&T shares opened at Rs 3,669 apiece on January 8. They later pared some gains to trade flat at around Rs 3,616 apiece. The shares had earlier closed at Rs 3,642 on December 7. The stock is currently over 7% lower than its 52-week-high record of Rs 3,963.

Notably, L&T on December 7 said its Power Transmission & Distribution (PT&D) vertical has received multiple ‘large’ orders worth Rs 2,500 crore to Rs 5,000 crore in the foreign and domestic markets.