Ministry of Defence awards significant contract to L&T Defence

India's leading EPC projects, manufacturing, defence & services conglomerate, Larsen & Toubro’s (L&T) defence arm announced on Friday that it has bagged a significant contract ranging between Rs 1,000 crore and Rs 2,500 crore by Indian Ministry of Defence (MoD) for supplying four regiments of Pinaka weapon systems.

The agreement involves the supply of Pinaka launchers, battery command posts and associated engineering support package (ESP) for the four regiments. L&T developed Pinaka launch system as a part of Pinaka development program of Defence Research & Development Organisation (DRDO, ARDE), which functions as high tech, all-weather, long-range, area fire artillery weapon system.

L&T, being the proponent of Self-reliant India and a Make-in-India company, is associated with the Pinaka program since its inception. The company has executed similar orders from the Ministry of Defence and supplied two regiments of Pinaka systems previously.

L&T Defence is also engaged with DRDO for future developments on this artillery system. The company has built in-house competence and capacities to provide defence solutions (land, sea and under-water application).

Despite the announcement, at 11.55 am, the share of Larsen & Toubro Limited was trading 1.15 per cent down at Rs 950 on BSE.