L&T bags significant orders from multiple clients in India and overseas

The heavy engineering arm of Larsen & Toubro (L&T) won significant contracts for its various business segments in Q3 FY22.

The modification, revamp and upgrade (MRU) business of L&T Heavy Engineering has been awarded a contract by a key hydrocarbon sector customer in the Middle East. It covers detailed engineering, supply of critical equipment & components, leading into multi- disciplinary site work involving multiple staggered shutdowns during which the revamp work would be carried out.

The MRU business has also been awarded a project for revamp of FCC (Fluid Catalytic Cracking) system for another important Hydrocarbon sector customer in the Middle East.

In the domestic market, the MRU business has been awarded the project for RFCC (Residue Fluid Catalytic Cracking) revamp as part of the expansion of the Barauni Refinery (BR-9) by Indian Oil Corporation (IOCL). The RFCC units are being commissioned and operated to convert hydrotreated and straight-run residue to maximize yield of propylene, which will be used to produce polypropylene in the downstream petrochemical unit.

The project mainly includes capacity augmentation of existing RFCC unit and conversion of this existing unit into INDMAX FCC unit, to maximize propylene yield. The expansion will enhance the crude processing capacity of the Barauni Refinery from 6 MMTPA (million metric tonnes per annum) to 9 MMTPA.

The other orders secured by L&T Heavy Engineering include Critical Hydrocracker and Hydrotreater Reactors for the Residue Processing and Treating Unit of the Numaligarh Refinery; Ethylene Oxide Reactors for a Mono-ethylene Glycol (MEG) project in Poland from a European client; Ethylene Oxide Reactor for another MEG Project in Uzbekistan; Waste Heat Boiler packages for an Ammonia Plant in Israel & High-Pressure Heat Exchangers for IOCL Barauni Refinery.

According L&T's classification, the value of 'significant' contracts lies between Rs 1,000 crore to Rs 2,500 crore.

The company's consolidated net profit fell 67% to Rs 1,819.45 crore on 12% increase in net sales to Rs 34,772.90 crore in Q2 FY22 over Q2 FY21.

Shares of Larsen & Toubro (L&T) lost 0.29% to Rs 1,932.50 on BSE. L&T is an Indian multinational engaged in EPC projects, hi-tech manufacturing and services.

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