Larsen & Toubro arm bags significant orders in Q2 FY23

13 Oct 2022 , 11:27 AM

The company said that some of these contracts were secured from prestigious clients demonstrate L&Ts hi-tech manufacturing capabilities. As per Larsen & Toubros (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 IOCLs 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 majors 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. Powered by Capital Market – Live News