Rs 5,10,100 crore order book: Civil construction company bags new order worth approx. Rs 2,500 crore in Middle East
The stock is up by 11 per cent from its 52-week low and gave multibagger returns of 160 per cent in the last 5 years.
Larsen & Toubro (L&T) has secured a repeat order, valued at approximately Rs 2,500 crore, from a leading railway company in the Gulf Cooperation Council (GCC) region. This order focuses on developing freight handling facilities as part of the customer's multi-phase capacity expansion plans. L&T's Minerals & Metals (M&M) vertical will handle the engineering, procurement, construction, and commissioning (EPCC) of these facilities at two locations, incorporating advanced automation and control systems, including an add-on package.
This win reinforces L&T's established expertise in delivering freight handling solutions across railway corridors in both India and the Middle East. L&T's M&M vertical offers comprehensive, end-to-end EPC solutions for various sectors, including mining, minerals processing, industrial products, and material handling. Beyond project execution, their product business provides cost-effective solutions for industries like mining, cement, steel, fertilizers, and ports.
DSIJ's 'Large Rhino' service recommends blue chip stocks of Large Cap companies that have leadership positions in their category. If this interests you, do download the service details here.
About the Company
Larsen & Toubro (L&T) is a massive Indian conglomerate with its fingers in many pies. Their core business is engineering, procurement and construction (EPC) solutions across various sectors like infrastructure, power, hydrocarbon (oil & gas) and defence. They also manufacture custom-designed machinery for these industries and even have a real estate arm. L&T is a major player in IT services through subsidiaries like L&T Infotech and Mindtree and provides financial services like rural and housing finance through L&T Finance Holdings. They even handle development projects involving infrastructure, toll management and power generation.
The company has a market cap of Rs 4.70 lakh crore and has been maintaining a healthy dividend payout of 34.6 per cent. Life Insurance Corporation of India (LIC) owns a 12.61 per cent stake in the company as of December 2024. The company has a robust order book valued at Rs 5,10,100 crore as of September 30, 2024. The stock is up by 11 per cent from its 52-week low and gave multibagger returns of 160 per cent in the last 5 years. Investors must keep this Large-Cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.