Larsen & Toubro (L&T), the Indian multinational conglomerate, has announced a significant victory for its Hydrocarbon Offshore business vertical. The company has secured an ultra-mega order from a prestigious client in the Middle East, marking a major milestone in its offshore oil and gas operations.

Order Details

The order, valued at over ₹15,000.00 crore, encompasses multiple offshore packages. The scope of work includes:

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

This comprehensive project showcases L&T's expertise in delivering complex offshore solutions.

L&T's Hydrocarbon Offshore Capabilities

L&T Energy Hydrocarbon Offshore, a vertical within the company, has established itself as a leading provider of Engineering, Procurement, Construction, Installation & Commissioning (EPCIC) solutions in the offshore oil and gas sector. The company's strengths include:

• Robust in-house engineering capabilities
• State-of-the-art fabrication yards
• Dedicated fleet of marine vessels
• Strong track record in both shallow and deep-water field developments

Over the past three decades, L&T has undertaken complex projects involving fixed platforms, subsea pipelines and structures, brownfield upgrades, and 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 maintaining world-class safety practices. It reinforces the company's position as a trusted partner in the offshore oil and gas industry.

Company Background

Larsen & Toubro is a $30.00 billion Indian multinational engaged in EPC Projects, Hi-Tech Manufacturing, and Services across multiple geographies. The company's customer-focused approach and quest for top-class quality have enabled it to maintain leadership in its major lines of business for eight decades.

This latest order win further solidifies L&T's position in the global energy sector and demonstrates its capability to secure and execute large-scale, complex projects in the competitive Middle Eastern market.

Larsen & Toubro (L&T), India's leading engineering and construction conglomerate, has reported robust financial results for the first quarter, demonstrating strong growth across key parameters.

Financial Highlights

L&T achieved consolidated revenues of ₹63,679.00 crore for the quarter, registering a year-on-year growth of 16%. The company's Consolidated Profit After Tax (PAT) stood at ₹3,617.00 crore, marking a significant 30% increase compared to the same period last year.

The company received orders worth ₹94,453.00 crore at the Group level during the quarter, representing a robust 33% year-on-year growth. International orders constituted 52% of the total order inflow, amounting to ₹48,675.00 crore.

L&T's consolidated order book stood at ₹612,761.00 crore, growing 6% over the previous quarter, with international orders accounting for 46% of the total.

Segment Performance

Infrastructure Projects

The Infrastructure Projects segment secured orders worth ₹41,024.00 crore, showing a moderate 2% growth. Customer revenues for this segment were ₹28,757.00 crore, up 7% year-on-year.

Energy Projects

This segment witnessed exceptional growth, securing orders valued at ₹31,420.00 crore, more than doubling its performance compared to the previous year. Customer revenues stood at ₹12,470.00 crore, registering a robust 47% year-on-year growth.

Hi-Tech Manufacturing

While order inflow declined by 49% to ₹1,889.00 crore, customer revenues surged by 75% to ₹3,227.00 crore, driven by improved execution in both Heavy Engineering and Precision Engineering & Systems businesses.

IT & Technology Services

The segment recorded customer revenues of ₹12,619.00 crore, showing a 10% year-on-year growth.

Major Order Win

In a separate announcement, L&T's Hydrocarbon Offshore business vertical 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, along with 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, "The record order book of ₹6 lakh crore+ is a testimony of our proven expertise in the domains of engineering, construction, manufacturing, and project management. This being a terminal year of our Lakshya'26 five-year plan, I am pleased to say that so far, our journey in the last four years has been good and we are on track to achieve/surpass the specified targets across all financial parameters."

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 quarter and a significant ultra-mega order win in its Hydrocarbon Offshore business, L&T appears well-positioned for continued growth and success in the coming quarters.