L&T gains on distribution agreement with Germany's Kemroc

Larsen & Toubro (L&T) rose 1.54% to Rs 1816.50 after the company said that it has entered into a distribution agreement with Kemroc that will facilitate Kemroc products to be distributed and promoted in the Indian market by L&T.

Kemroc is a global manufacturer of attachments for excavators and backhoe loaders.

The agreement covers Kemroc-developed special attachments including its patented EK series of chain cutters. These chain cutters are a game changer in rock trenching and are well accepted across the world, including India.

Kemroc had recently introduced a new series of efficient chain cutters, drum cutters, cutter wheels, pile cutters, trenchers, patch planners and drilling augurs with applications covering trench excavation, tunnel excavation, foundation excavation, quarrying, demolition of old structures, drilling holes, road works, asphalt milling as well as under-water excavation.

This strategic partnership will enable L&T to expand its product offerings and provide comprehensive solutions to customers in the construction industry in India.

L&T already offers special attachments such as crusher bucket, rock breakers, quick couplers, demolition tools and piling solutions with tie-ups from international brands such as Komatsu, Sandvik and Movax.

L&T team received an initial order for Kemroc KRL110 pile cutter attachment for job-work for IOCL site at Paradip, Odisha.

L&T is an Indian multinational engaged in EPC projects, hi-tech manufacturing and services.

The company's consolidated net profit fell 67.04% to Rs 1819.45 crore on 12.05% increase in net sales to Rs 34772.90 crore in Q2 FY22 over Q2 FY21.

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