The merger is subject to necessary statutory and regulatory approvals including the approvals of National Company Law Tribunal/other regulatory authority and the respective Shareholders and Lenders/Creditors of each of the companies involved in the scheme, the company said in a press note on Saturday.
The scheme will be filed with the stock exchanges as per the applicable provisions of Regulation 37 of SEBI LODR, the company added.
Meanwhile, the company reported adjusted PAT for Q4FY19 at Rs3,418cr, which grew by 7.9% yoy. Net profit came below expectation of Rs3,650cr. Larsen and Toubro Ltd’s revenue grew by 10.5% yoy to Rs44,934cr. EBITDA came in at Rs5,599cr, up 3.5% yoy. EBITDA margin contracted by 85bps yoy to 12.46%.