Larsen & Toubro (L&T), a leading Indian multinational in the EPC, manufacturing, and services sectors, has recently secured multiple large orders for its Minerals & Metals (M&M) business vertical in India. These orders, classified as 'Large' in L&T's project classification, indicate a value range of ₹1,000 to ₹2,500 crores.

Key Order Details

Hindalco Project

The order from Hindalco involves setting up a 180 KTPA Aluminium Smelter along with a Gas Treatment Centre for their greenfield project in Odisha. This project strengthens L&T's long-standing partnership with Hindalco, which has spanned over three decades across various expansion programs in alumina, aluminum, and copper plants.

TATA Steel Project

For TATA Steel Jamshedpur, L&T will be setting up a 1 MTPA Coke Oven Battery 6 A/B, showcasing the company's capabilities in the steel sector.

Multiple Orders for Mining Equipment

L&T's Product Business Unit, part of the M&M vertical, has secured multiple orders from various clients across India for mining and material handling equipment. This demonstrates the company's diverse product portfolio and its strong position in the industrial infrastructure sector.

Management Commentary

T Kumaresan, Senior Vice President & Head of Minerals & Metals at L&T, commented on the order wins: "These order wins across the aluminium and steel sectors are a testament to L&T's engineering excellence, execution capability and enduring customer relationships. These further strengthens our role in shaping the nation's industrial infrastructure, while deepening the relationship with the steel sector through world-class execution and technological excellence".

Company Overview

Larsen & Toubro is a USD 30.00 billion Indian multinational with operations spanning EPC Projects, Hi-Tech Manufacturing, and Services across multiple geographies. The company's M&M business vertical offers end-to-end solutions in the EPC domain for sectors such as mining, minerals processing, industrial products, and material handling. Additionally, its Product Business provides cost-effective solutions for industries including mining, cement, steel, fertilisers, and ports.

These recent order wins underscore L&T's strong position in India's industrial infrastructure sector and its ability to secure significant projects across various industries.

Larsen & Toubro (L&T), a prominent engineering and construction conglomerate, has announced a series of significant corporate developments spanning from 2023 to 2025. These updates encompass various aspects of the company's operations, including share buybacks, acquisitions, and new financial instruments.

Corporate Actions and Financial Decisions

In July 2023, L&T's board proposed a share buyback and special dividend consideration, with the record date set for August 2, 2023. This move may signal the company's confidence in its financial position and commitment to returning value to shareholders.

Regulatory Challenges

L&T faced a regulatory hurdle in June 2024 when the Income Tax Department imposed a penalty of Rs. 4.69 crore for the Assessment Year 2020-21. This penalty was related to the company's erstwhile subsidiary, L&T Hydrocarbon Engineering Limited. L&T plans to appeal this decision, demonstrating its approach to addressing regulatory issues.

Strategic Acquisition

In February 2025, L&T acquired the remaining 26% stake in L&T Special Steels and Heavy Forgings Private Limited from Nuclear Power Corporation of India Limited (NPCIL) for Rs. 170.00 crore. This acquisition transformed the entity into a wholly owned subsidiary of L&T.

Business Expansion

L&T secured construction contracts for its Buildings & Factories and Metallurgical & Material Handling businesses. While specific details of these contracts were not provided, this development indicates ongoing activity in these sectors for L&T.

Innovative Financial Instrument

In June 2025, L&T listed Environmental, Social, and Governance (ESG) bonds on the National Stock Exchange (NSE). The key details of this financial instrument are as follows:

This initiative diversifies L&T's funding sources and aligns with the emphasis on sustainable and responsible investing.

Conclusion

These developments showcase L&T's approach to corporate strategy, encompassing shareholder value creation, strategic acquisitions, business expansion, and innovative financial instruments. As the company addresses regulatory challenges and explores new avenues for growth, these moves may impact L&T's performance and market position.