Rs 4,69,800 crore order book & Rs 25,000 crore orders: This civil construction company bags new orders from Middle East, AIIMS, ONGC and Indian Air Force
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 Ltd (L&T) informed that the company has bagged multiple orders worth approx. Rs 25,000 crore from domestic and international clients. Here are the details: -
Order No – 1: L&T Energy Hydrocarbon (LTEH) secured a major onshore gas pipeline project in the Middle East. This marks their largest cross-country pipeline project to date and involves engineering, procurement, and construction of two massive 56-inch pipelines along with supporting infrastructure. The order is worth approximately Rs 10,000 crore.
Order No – 2: Larsen & Toubro's construction and infrastructure division has been awarded a significant contract to build a new medical complex for AIIMS Madurai. This project includes a 720-bed hospital, a 150-bed infectious disease block, a 30-bed AYUSH block, a medical college, a nursing college, an auditorium, a hostel and residential facilities. The total built-up area will be 2.1 million square feet and the project is expected to be completed in 33 months. The order is worth approximately Rs 2,500 crore.
Order No – 3: The Indian government awarded a significant contract to Larsen & Toubro (L&T) to supply advanced radar systems (HPR) to the Indian Air Force (IAF). These radars boast long-range detection, next-generation features, and remote operation capabilities. This will significantly enhance the IAF's ability to monitor crucial zones and identify and track potential threats with high precision. Additionally, L&T will fulfil an earlier order for domestically developed defence systems (CIWS) to safeguard vital Indian assets from low-flying aerial threats like drones. These systems combine air defence guns, tracking and search radars, and a command center with supporting equipment. L&T will manufacture both HPR and CIWS in its facilities, collaborating with Indian small and medium businesses (MSMEs) within the industrial ecosystem. The order is worth approximately Rs 10,000 crore.
Order No – 4: L&T Energy Hydrocarbon, a division of Larsen & Toubro, has been awarded a contract by the Oil & Natural Gas Corporation Ltd (ONGC) to engineer, procure, construct, install and commission new gas compressor modules at offshore locations and upgrade existing facilities, aiming to boost production. This project signifies trust in L&T's expertise and their commitment to supporting India's energy security. L&T Energy Hydrocarbon offers comprehensive design-to-build solutions across the oil & gas sector, with a proven track record in project management and a focus on safety and quality. The order is worth approximately Rs 2,500 crore.
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 plunged 1.36 per cent to Rs 3,557.25 per share from its previous closing of Rs 3,606.35 with an intraday high of Rs 3,605.75 and an intraday low of Rs 3,533.35. The stock’s 52-week high is Rs 3,738.90 while its 52-week low is Rs 2,122.20. 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.
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