L&T bags significant deals across multiple business segments

The heavy engineering arm of Larsen & Toubro (L&T) has won significant contracts for its various business segmentsin Q4 of FY21.

L&T Heavy Engineering has secured order for 12 Steam Generators (SGs) from NPCIL for the 3x700 MWe Pressurized Heavy Water Reactor (PHWR). The fleet order for reactor headers and pressurizers for GHAVP 1&2 units were received in the earlier quarter. The fleet program consists of constructing 10 units of 700 MWe PHWR with indigenous technology.

L&T Heavy Engineering also won a critical reactor system package order for IOCL's Petrochemical project. Other notable orders include Hydroprocessing Reactors for the Renewable diesel & Biofuel project for prestigious refinery majors from USA & Europe; Reactor with internals for IOCL Barauni and a service contract for IOCL Paniipat PTA project.

According to L&T's classification, the value of the said orders lie between Rs 1,000 crore to Rs 2,500 crore. The announcement was made during market hours today, 15 April 2021.

On a consolidated basis, the infrastructure major's net profit rose 5.4% to Rs 2,849.06 crore on 1.8% decline in revenue from operations to Rs 35,596.42 crore in Q3 December 2020 over Q3 December 2019.

L&T is an Indian multinational engaged in engineering, procurement and construction projects, manufacturing, defence and services with over $21 billion in revenue.

Shares of L&T fell 0.41% to Rs 1,367.80 on BSE. The stock hovered in the range of Rs 1,358.55 to Rs 1,390.50 so far.

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