Larsen & Toubro (L&T), India's leading engineering and construction conglomerate, has made significant strides in both corporate governance and international business expansion. The company announced two major developments on October 29, 2025, showcasing its commitment to strengthening leadership and expanding its global footprint.

Appointment of Amitabh Kant as Independent Director

L&T's board of directors has approved the appointment of Amitabh Kant as a Non-Executive, Independent Director for a five-year term, subject to shareholder approval. Kant, a retired IAS officer of the 1980 batch from Kerala cadre, brings a wealth of experience to the board:

• Term: October 29, 2025, to October 28, 2030
• Background: Former G20 Sherpa and CEO of NITI Aayog
• Recent Appointments: Also joined boards of HCL Technologies and IndiGo

Kant's extensive experience in governance and public policy is expected to provide valuable insights to L&T's strategic decision-making processes.

Major Power Transmission Orders in Saudi Arabia

In a separate announcement, L&T's Power Transmission & Distribution (PT&D) vertical secured significant orders in Saudi Arabia:

These orders align with Saudi Arabia's National Renewable Energy Programme (NREP), which aims to upgrade the country's electricity grid to support renewable energy projects.

Strategic Implications

1. Corporate Governance: The appointment of Amitabh Kant strengthens L&T's board with expertise in governance, policy-making, and international relations.

2. International Expansion: The Saudi Arabian orders reinforce L&T's position in the Middle Eastern market and its capability to execute large-scale infrastructure projects.

3. Renewable Energy Focus: By participating in Saudi Arabia's grid upgrade, L&T is positioning itself as a key player in the global transition to renewable energy infrastructure.

L&T's dual announcements reflect its strategy of enhancing corporate leadership while pursuing international growth opportunities, particularly in the evolving energy sector.

As the company continues to navigate the complex landscape of global infrastructure development, these moves are likely to contribute to its long-term growth and sustainability objectives.

Larsen & Toubro (L&T), India's leading engineering and construction conglomerate, saw its shares reach a new 52-week high of ₹4,016.70, gaining approximately 1% ahead of its September quarter earnings announcement. The company's market capitalization now stands at ₹5.5 lakh crore.

Saudi Arabia Orders Boost L&T's Power Transmission & Distribution Business

L&T's Power Transmission & Distribution (PT&D) vertical has secured significant orders in Saudi Arabia, further strengthening its international presence. The company announced two major grid infrastructure projects:

1. Construction of a 380/33 kV Gas Insulated Substation
2. Construction of 380 kV Overhead Transmission Links spanning over 420 kilometers

These orders are part of Saudi Arabia's National Renewable Energy Programme (NREP), which aims to upgrade the country's electricity grid to support the growing renewable energy sector.

Order Details

Q2 Financial Performance

L&T has announced its September quarter results, with the following key figures:

While the company showed growth across all metrics, the results fell slightly short of market estimates. The EBITDA margin decreased to 10.01% from 10.34% year-over-year, though it was marginally above the 10% estimate.

Strong Order Book and Future Prospects

L&T's order book continues to grow:

• Consolidated order book has surpassed ₹6 lakh crore
• JM Financial estimates order inflows of ₹2 lakh crore in the first half of the fiscal year
• Potential for additional ₹43,000 crore in Kuwait projects

The company may exceed its 10% order inflow growth guidance for the year.

Heavy Engineering Vertical Secures Multiple Orders

In a separate announcement, L&T's Heavy Engineering vertical reported securing multiple orders both domestically and internationally:

• United States: Vessels for an NGL fractionator project and Cartridge for a Blue Ammonia project in Louisiana
• Mexico: Ammonia and urea processing equipment for two fertilizer plants
• Brazil: Critical Heat Exchangers for the replacement market
• Saudi Arabia: Order for a refinery and integrated petrochemical complex
• Nuclear sector: Orders for critical equipment for international and domestic nuclear projects
• India: Crucial equipment orders for a PTA project in Gujarat

These diverse orders across various sectors and geographies underscore L&T's technical expertise and global reputation for delivering high-quality engineering solutions.

As L&T continues to secure major projects and expand its order book, the company's financial performance and future growth prospects remain strong, despite slightly missing some market estimates in the latest quarterly results.