Larsen -; Toubro announces significant order wins in Q2FY23; stock slips ~2%

13 Oct 2022 , 12:15 PM

Larsen & Toubro’s Heavy Engineering division secured multiple contracts in the second quarter of FY23. Some of these high-profile contracts from famous clients illustrate L&T’s advanced manufacturing capabilities.

In the global marketplace, L&T Heavy Engineering received a significant order from a famous customer in Singapore for the delivery of Reactors for sustainable diesel production. This initiative will help to expand the company’s green product offering.

The company recently received a repeat order for four identical Coke Drums for a Mexican refinery.

In the petrochemicals industry, the company was awarded two huge essential Tubular Reactors for a project in China by a multinational petrochemical giant. All of the orders were acquired despite intense international competition due to consistent performance.

Domestically, L&T Heavy Engineering has successfully secured key important orders for IOCL’s Panipat P25 Project. This includes a first-of-its-kind reactor (site welded and integrated critical Cr-Mo-V) and high-pressure heat exchangers made by any Indian heavy engineering equipment company.

The contract also involves the production of an LC Finning Cr-Mo-V Reactor for the Residue Hydrocracker Unit (RHCU) using Axens Technology, as well as a Loop Reactor utilising LlyondellBasell Technology. These massive technical items are also the first of their sort created by any Indian business, indicating a significant boost to the Atmanirbhar Bharat programme.

At around 12.19 PM, Larsen & Toubro was trading at Rs1,876 per piece, down by 1.85% from its previous closing of Rs1,911.45 on the BSE. The scrip touched intraday high and low of Rs1,912 and Rs1,870.90 respectively.

For feedback and suggestions, write to us at [e-mail]