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 leading Indian multinational conglomerate, has recently received multiple positive updates across various aspects of its business operations, including a significant new contract, credit ratings, order acquisitions, strategic partnerships, and financial performance.

New Large Contract

L&T has secured a large contract with a value ranging between 25 to 50 billion rupees. This contract represents a significant business win for the company, further solidifying its strong market position.

Credit Rating Upgrades

L&T has achieved significant milestones in its credit ratings:

These newly assigned ratings from two major global rating agencies reflect L&T's strong financial position and positive business outlook.

Significant Order Wins

The company has secured several notable orders:

1. A data centre project in Uzbekistan
2. Residential and commercial towers from Brigade Group
3. Various infrastructure projects

These new contracts underscore L&T's diverse project portfolio and its ability to secure business across different sectors and geographies.

Strategic Partnerships

L&T has forged key partnerships to strengthen its market position:

• Collaboration with ReNew Power for green hydrogen business
• Signed Master Ship Repair Agreement with U.S. Navy

These partnerships indicate L&T's focus on expanding into emerging sectors like green energy and reinforcing its presence in the defense industry.

Strong Quarterly Performance

L&T reported robust financial results for the recent quarter:

The substantial order inflows and double-digit revenue growth demonstrate L&T's strong market position and execution capabilities.

ESG Rating and Acquisition

In other developments:

• L&T received an ESG rating of 'CRISIL ESG 63' under the 'Strong' category, highlighting its commitment to sustainable practices.
• The company completed the acquisition of the entire stake in the L&T-Chiyoda Limited joint venture, potentially strengthening its control over operations in this segment.

These diverse updates across credit ratings, order wins, partnerships, and financial performance showcase L&T's robust business model and its ability to navigate various market segments successfully.