Infrastructure Giant Bags Rs 5,000-15,000 Crore Order from Ministry of Defence for K9 Vajra-T Artillery Platforms!

DIIs have raised their stake in the company as per the Q2 FY25 update while the Government holds around 0.24 per cent.

The Ministry of Defence, Government of India, has awarded Larsen & Toubro (L&T) a significant contract to supply K9 Vajra-T artillery platforms to the Indian Army. The K9 Vajra-T, a 155 mm, 52-calibre tracked self-propelled artillery system, is an adaptation of the renowned South Korean K9 Thunder self-propelled howitzer. Co-developed by L&T and Hanwha Aerospace, it has been tailored to meet the Indian Army's specific operational needs across diverse terrains, including deserts, plains, and high-altitude regions.

In 2017, L&T secured the initial contract for 100 K9 Vajra-T platforms through a global competitive bidding process and successfully completed rigorous field evaluations. The company delivered these platforms ahead of schedule, showcasing its expertise in designing, developing, and manufacturing advanced defence systems. Since their induction, the K9 Vajra platforms have demonstrated outstanding performance.

According to Larsen & Toubro's project classification, a "major" contract refers to an order with a value ranging between Rs 5,000 crore and Rs 10,000 crore.

Larsen & Toubro Ltd is a Large-Cap multinational conglomerate that is primarily engaged in providing engineering, procurement, and construction (EPC) solutions in key sectors such as Infrastructure, Hydrocarbon, Power, Process Industries and Defence, Information Technology, and Financial Services in domestic and international markets.

Currently, the shares of Larsen & Toubro Ltd are trading at around Rs 3646.60 per share on the BSE. The current market capitalization stands at Rs 5.01 lakh crore. Additionally, the shares have delivered a return of around 5 per cent in the past year.

As per the Quarterly Results, in Q2 FY25, Larsen & Toubro Ltd recorded a revenue of Rs 61555 crore from Rs 51024 crore. The operating profit for Q2 FY25 stood at Rs 7917 crore. The net profit for the period stood at Rs 4099 crore compared to a profit of Rs 3846 crore last year same quarter. Looking at the annual performance, the company generated a revenue of Rs 221113 crore in FY24. The operating profit for FY24 was Rs 183341 crore with a net profit of Rs 15547 crore compared to a net profit of Rs 12531 crore in FY23.

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