Rs 4.13 lakh crore order book: This civil construction company receives orders worth Rs 2,500 crore from Perdaman Chemicals and Fertilisers Pvt Ltd, Australia!
The stock is up by 50 per cent in 1 year and gave multibagger returns of over 170 per cent in the last 3 years.
L&T Energy Hydrocarbon has won a contract from Saipem & Clough JV (SCJV) to fabricate and supply process and pipe rack modules for a 2.3 MMTPA urea plant in Australia. The plant will be constructed on the Burrup Peninsula in Western Australia and will be the largest urea plant in Australia and one of the largest in the world. L&T will fabricate the modules at its Kattupalli Modular Fabrication Facility and ship them to Australia for installation.
L&T Heavy Engineering has also won a contract to supply the complete package of urea equipment for the project. This includes urea reactors, carbamate separators, carbamate condensers, and urea strippers. The equipment will be manufactured with Snamprogetti (TM) Technology. These orders were awarded against stiff international competition, a testament to L&T's reliability and commitment. The order is a significant order worth approx. 2,500 crore.
Earlier, the company announced its Quarterly Results ended June 30, 2023 wherein the net sales increased by 33.55 per cent to Rs 47,882 crore and net profit increased by 39 per cent to Rs 3,096 crore in Q1FY24 over Q1FY23. As of June 30, 2023, the company order book stands at Rs 4.13 lakh crore.
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On Tuesday, the shares of Larsen and Toubro Ltd surged 0.37 per cent to Rs 2,673.70 per share with an intraday high of Rs 2,682 and an intraday low of Rs 2,663. The company has been maintaining a healthy dividend payout of 37.20 per cent
The stock is up by 50 per cent in 1 year and gave multibagger returns of over 170 per cent in the last 3 years. Investors must keep this stock on their watch list.
Disclaimer: The article is for informational purposes only and not investment advice.