This ‘ultra mega’ order from NTPC marks a significant milestone for L&T, reinforcing its position as a leader in the infrastructure and energy sector.
Larsen & Toubro Ltd. (L&T) announced on Tuesday, November 12, that its Energy CarbonLite Solutions division has secured an ‘ultra mega’ order from NTPC Ltd. to set up thermal power plants in Madhya Pradesh and Bihar. The contract involves extensive work, including the design, engineering, manufacturing, supply, construction, and commissioning of critical components like boilers, turbines, electrostatic precipitators, and auxiliaries, along with mechanical, electrical, instrumentation, and civil works.
L&T Wins Rs 15,000 Crore Order
L&T classifies orders worth more than ₹15,000 crore as ‘ultra mega’. According to a report by CNBC-TV18, that L&T had emerged as the lowest bidder for a significant NTPC thermal power project. The projects cover the BTG (Boiler, Turbine, Generator) and EPC (Engineering, Procurement, and Construction) of three NTPC-run power plants with capacities of 2.4 GW, 2.4 GW, and 1.6 GW, respectively.
L&T Q2 Results Performance
Last month, L&T reported its financial results for the second quarter of FY24. Net profit rose by 5.4% to ₹3,395.3 crore, compared to ₹3,223 crore in the same period last year. Revenue from operations surged by 20.6% to ₹61,554.6 crore, up from ₹51,024 crore in the previous year. EBITDA increased by 13% to ₹6,362 crore, compared to ₹5,632 crore last year. EBITDA margin was reported at 10.3%, slightly down from 11% in the prior year.
L&T Stock Market Performance
As of November 12, L&T’s shares were trading 0.18% lower at ₹3,585 apiece. The stock has gained 19.3% over the past year, showcasing strong investor confidence in the company’s growth trajectory.
Larsen & Toubro Limited, abbreviated as L&T, is an Indian multinational conglomerate, with interests in industrial technology, heavy industry, engineering, construction, manufacturing, power, information technology, military and financial services. It is headquartered in Mumbai, Maharashtra.
The company has no connection with Mukesh Ambani, Ratan Tata, Gautam Adani. L&T was founded in 1938 in Bombay by Danish engineers Henning Holck-Larsen and Søren Kristian Toubro.