Larsen & Toubro (L&T), India's leading engineering and construction conglomerate, has demonstrated robust performance in the first quarter, while also securing a significant new order in its hydrocarbon offshore business.

Q1 Financial Highlights

L&T reported impressive growth across key financial parameters for the quarter ended June 30:

• Consolidated revenue surged 16% year-over-year to ₹63,679.00 crore
• Consolidated net profit jumped 30% to ₹3,617.00 crore
• EBITDA increased 13% to ₹6,318.00 crore
• Order inflow grew 33% to ₹94,453.00 crore

The company's order book stood at a record ₹612,761.00 crore as of June 30, representing a 6% increase from March.

Segment Performance

Infrastructure Projects

This segment secured orders worth ₹41,024.00 crore, with international orders constituting 69% of the total. Customer revenues grew 7% to ₹28,757.00 crore.

Energy Projects

The segment saw a remarkable growth in order inflow, exceeding 100% year-over-year to reach ₹31,420.00 crore. Customer revenues surged 47% to ₹12,470.00 crore.

Hi-Tech Manufacturing

Despite a 49% decline in order inflow, the segment's customer revenues grew 75% to ₹3,227.00 crore.

IT & Technology Services

Revenues in this segment increased 10% to ₹12,619.00 crore.

Ultra-Mega Order Win

In a separate announcement, L&T revealed that its Hydrocarbon Offshore business vertical has secured an ultra-mega order from a prestigious client in the Middle East. The order, valued at over ₹15,000.00 crore, includes multiple offshore packages for engineering, procurement, construction, and installation of offshore structures, as well as upgradation of existing facilities.

Management Commentary

S.N. Subrahmanyan, Chairman and Managing Director of L&T, commented on the results: "This quarter we have performed well across all financial parameters. At a Group level, we registered once again, the highest order inflow for Q1 ever. Besides improved performance on all P&L parameters, the return ratios have also moved higher."

He added, "Our new-age businesses like Semiconductor, Data Centers, Green Energy and Digital Platforms have been successfully incubated in the current strategic plan and we expect these businesses to contribute meaningfully over the next 5 years."

Outlook

L&T remains focused on sustained execution of its large order book, scaling up new businesses, and capitalizing on emerging opportunities. The company continues to pursue its objective of delivering profitable growth through its diverse business portfolio and multi-geography presence.

With a strong start to the fiscal year and a significant ultra-mega order in its hydrocarbon offshore business, L&T appears well-positioned to maintain its growth trajectory in the coming quarters.

Larsen & Toubro (L&T), India's leading engineering and construction conglomerate, has clinched a significant victory in the international market. The company has secured an ultra-mega contract valued at over ₹15,000 crore, marking a substantial milestone in its global operations.

Contract Details

The contract, described as an 'ultra-mega' deal, has been awarded to L&T's Hydrocarbon Offshore business vertical (L&T Energy Hydrocarbon Offshore) by a prestigious client in the Middle East. This classification is reserved for projects exceeding ₹15,000 crore in value, as per L&T's project classification system.

Scope of Work

The order encompasses multiple offshore packages, highlighting the comprehensive nature of the project. The scope of work includes:

• Engineering
• Procurement
• Construction
• Installation of offshore structures
• Upgradation of existing facilities

L&T's Expertise

L&T's Hydrocarbon Offshore vertical is renowned for providing engineering, procurement, construction, installation & commissioning (EPCIC) solutions in the offshore oil and gas sector. The company's capabilities are bolstered by:

• Robust in-house engineering capabilities
• State-of-the-art fabrication yards
• A dedicated fleet of marine vessels

Over the past three decades, L&T has successfully undertaken complex projects involving:

• Fixed platforms
• Subsea pipelines and structures
• Brownfield upgrades
• Decommissioning

Significance of the Order

This ultra-mega order is a testament to L&T's ability to deliver complex projects globally with speed and precision while adhering to world-class safety practices. It also underscores the company's strong position in the international hydrocarbon sector, particularly in the Middle East region.

Company Background

Larsen & Toubro is a $30.00 billion Indian multinational conglomerate operating across multiple geographies. With a strong customer-focused approach and a constant quest for top-class quality, L&T has maintained leadership in its major lines of business for eight decades.

This new contract further solidifies L&T's position as a global player in the engineering and construction industry, showcasing its ability to secure and execute large-scale, complex projects in international markets.