Larsen & Toubro shares gained 1.1% to ₹3,908.60 on Friday following the announcement of a large order from Petronet LNG, marking the company's second significant contract win in just three days. The engineering conglomerate's Hydrocarbon Onshore business vertical secured this order from Petronet LNG, a joint venture promoted by four leading PSUs including Oil & Natural Gas Corporation (ONGC), Indian Oil Corporation (IOCL), GAIL (India) and Bharat Petroleum Corporation (BPCL).

Project Specifications and Scope

The project will be delivered entirely on a Lump Sum Turnkey basis, comprising engineering, procurement, construction and commissioning of storage infrastructure at the Dahej Petrochemical Complex in Gujarat. The comprehensive scope includes specialized storage solutions and handling facilities to support petrochemical operations.

Recent Order Wins and Market Performance

This latest contract represents L&T's second "large" order within three days. On Wednesday, the company won another large order from Torrent Energy Storage Solutions to construct the 3,000 MW Saidongar-1 Pumped Storage Project in Raigad, Maharashtra, which is India's biggest pumped storage project comprising 10 units of 300 MW each.

Strategic Significance

This project represents a significant milestone as part of India's first petrochemical complex integrating cold energy utilisation from an LNG terminal. The initiative is expected to contribute towards bridging the domestic polypropylene demand-supply gap and aligns with the Government of India's Aatmanirbhar Bharat initiative by strengthening indigenous petrochemical manufacturing capacity.

Market Context and Challenges

L&T shares were in focus this week after MEED reported that Kuwait is planning to cancel projects worth nearly $9.00 billion, which sparked a sell-off in the stock. While the company issued a clarification, analysts cut their earnings estimates, projecting this development as a potential overhang on the stock. Despite these concerns, the recent order wins have provided positive momentum to the shares.

Order Classification Framework

According to L&T's order classification system, both recent wins fall under the "Large" category, which encompasses orders valued between ₹2,500 crores to ₹5,000 crores.

Larsen & Toubro Limited has notified stock exchanges regarding a structural change in its statutory auditors' constitution. The infrastructure major informed BSE and NSE on January 15, 2026, about the conversion of its auditing firm from a traditional partnership to a Limited Liability Partnership structure.

Auditor Firm Conversion Details

The company's statutory auditors, M S K A & Associates, Chartered Accountants, have transitioned to a Limited Liability Partnership (LLP) under the Limited Liability Partnership Act, 2008. This conversion became effective from January 13, 2026, and the firm now operates under the name M S K A & Associates LLP, Chartered Accountants.

Continuity of Audit Engagement

Larsen & Toubro emphasized that this change represents solely a modification in the firm's constitutional structure. The company confirmed that there is no alteration to the existing audit engagement terms or arrangements. M S K A & Associates LLP will continue serving as the statutory auditors for the remaining period of their approved tenure.

Regulatory Communication

The notification was formally communicated to both major stock exchanges where Larsen & Toubro shares are listed. The company secretary and compliance officer, Subramanian Narayan, signed the official intimation letter addressed to BSE Limited and National Stock Exchange of India Limited, requesting them to take the information on record.

This structural conversion of audit firms to LLP format has become increasingly common in the professional services sector, providing enhanced operational flexibility while maintaining professional standards and regulatory compliance.