Larsen & Toubro arm bags 'significant' orders in Q2 FY23

The EPC major on Thursday (13 October 2022) announced that its heavy engineering arm has won several 'significant' contracts in Q2 of FY23.

The company said that some of these contracts were secured from prestigious clients demonstrate L&T's hi-tech manufacturing capabilities.

As per Larsen & Toubro's (L&T) classification, the value of the significant project is Rs 1,000 crore to Rs 2,500 crore.

In the global market, L&T Heavy Engineering secured a key order for the supply of Reactors for renewable diesel production from a prestigious client in Singapore. This project will further strengthen the green product portfolio of the business.

The business also secured a repeat order for the supply of four identical Coke Drums for a refinery in Mexico. In the petrochemicals segment, the business won two large critical Tubular Reactors from a global petrochemical major for their project in China. All the orders were won against stiff international competition on the back of reliable performance, the company said.

On the domestic front, L&T Heavy Engineering successfully bagged multiple strategic orders for IOCL's Panipat P25 Project. This consists of a first-of-its-kind reactor (site welded & integrated critical Cr-Mo-V) and high-pressure heat exchangers to be manufactured by any Indian heavy engineering equipment manufacturer. The contract also includes manufacturing of LC Finning Cr-Mo-V Reactor for Residue Hydrocracker Unit (RHCU) using Axens Technology and Loop Reactor using LlyondellBasell Technology.

Larsen & Toubro is an Indian multinational engaged in EPC projects, hi-tech manufacturing and services. It operates in over 50 countries worldwide.

The EPC major's consolidated net profit surged 44.9% to Rs 1,702.07 crore on 22.2% jump in net sales to Rs 35,853.20 crore in Q1 FY23 over Q1 FY22.

Shares of Larsen & Toubro were down 1.91% to Rs 1,875 on the BSE.

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