Rs 4,69,800 crore order book: This multibagger civil construction company commissions first indigenously built hydrogen electrolyser at Hazira!

The stock is up by 70 per cent from its 52-week low and gave multibagger returns of 150 per cent in the last 3 years.

Larsen & Toubro (L&T) has achieved a significant milestone in the clean energy space by commissioning its first indigenously manufactured electrolyser at the green hydrogen plant at A M Naik Heavy Engineering Complex in Hazira, Gujarat. This pioneering accomplishment signifies L&T Electrolysers Limited's foray into domestic electrolyser manufacturing, underscoring the company's steadfast dedication to propelling sustainable energy solutions.

Featuring a rated power capacity of 1 MW (expandable to 2 MW), this electrolyser can produce 200 Nm3/Hr of hydrogen. It is equipped with two stacks and an Electrolyser Processing Unit (EPU) ML-400, which is indigenously manufactured and assembled, adhering to the latest international standards, and offers exceptional flexibility and thermal stability. The electrolyser will now undergo rigorous testing in the coming weeks to optimize its performance, and in turn, paving the way for full-fledged manufacturing of electrolysers.

L&T Electrolysers Limited, a newly incorporated entity of L&T, is focused on manufacturing pressurized alkaline electrolysers using the technology from McPhy Energy, France. The company spearheaded the complete value chain from engineering to manufacturing, in collaboration with Indian vendors and suppliers, thus setting a benchmark for "Make in India" initiatives. L&T Electrolysers plans to leverage its upcoming giga-scale facility in Hazira to meet the growing demand for green hydrogen, maximizing product localization through enhanced local supply chain, and automation for cost-competitiveness.

L&T Electrolysers has been allocated a significant 300 MW/annum capacity under the Production Linked Incentive (PLI) of the National Green Hydrogen Mission, launched by the Government of India’s Ministry of New and Renewable Energy (MNRE) and implemented by the Solar Energy Corporation of India (SECI). This allocation underscores L&T Electrolysers’ potential to emerge as a key player in electrolyser manufacturing.

The company's robust order book, valued at Rs 4,69,800 crore as of December 31, 2023, underscores its strong market position and future growth prospects. This order book represents a 22 per cent increase from September 2022, with a well-balanced domestic and international mix, with 61 per cent of the orders coming from domestic clients and 39 per cent from international clients.

Today, the shares of Larsen and Toubro Ltd surged 3.03 per cent to an intraday high of Rs 3,587 per share from its previous closing of Rs 3,481.60. The stock’s 52-week high is Rs 3,738.90 while its 52-week low is Rs 2,107. The stock is up by 70 per cent from its 52-week low and gave multibagger returns of 150 per cent in the last 3 years. Investors must keep this Large-Cap stock. 

Disclaimer: The article is for informational purposes only and not investment advice.