Larsen & Toubro (L&T), India's leading engineering and construction conglomerate, has announced several significant contract wins across different business verticals while reportedly nearing finalization of a major shipbuilding agreement with Maersk.

Infrastructure and Defense Orders

L&T GeoStructure

L&T GeoStructure secured multiple orders including:

• Construction of South Breakwater Extension at Paradip Port, Odisha
• Slipway augmentation work for Hindustan Shipyard Limited in Visakhapatnam
• Substructure works for a real-estate developer in Chennai

Precision Engineering Systems

In the defense sector, L&T's Precision Engineering Systems business secured an order for part construction of two Fleet Support Ships from Hindustan Shipyard Limited, with the Indian Navy as end user. These ships will:

• Be over 220 meters in length
• Have approximately 45,000 ton displacement
• Be constructed at L&T's Kattupalli shipyard near Chennai

Hydrocarbon Sector

The Hydrocarbon vertical won onshore and offshore orders from a Middle East client for:

• Engineering, procurement and construction of an Enclosed Ground-Flare system
• Upgradation of shutdown systems in offshore platforms

Potential Maersk Agreement

L&T is reportedly on the verge of finalizing a significant agreement with Maersk, the global shipping giant. The deal, focused on shipbuilding and repair projects in India, is expected to be worth up to $400.00 million and generate substantial revenue for L&T over several years.

Key Details of the Maersk Agreement

This potential partnership with Maersk could significantly boost L&T's position in the maritime industry and attract more international shipping companies to consider Indian shipyards for their construction and maintenance needs.

Other Developments

In a separate development, L&T received a GST order from Jaipur tax authorities disallowing input tax credit and imposing a penalty of Rs. 43.15 crore, which the company plans to appeal.

According to L&T's project classification system, all significant orders mentioned fall within the Rs. 1,000-2,500 crore value range.

As these developments unfold, stakeholders will be keenly watching for official announcements and further details about the specific projects, particularly the potential Maersk deal. The successful execution of these agreements could pave the way for more such collaborations in the future, potentially benefiting both L&T and the Indian engineering and shipbuilding industries at large.

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.