L&T Heavy Engineering wins 'Significant' Orders in Q2-FY23

The Heavy Engineering arm of Larsen & Toubro has won several contracts in Q2 of FY23. Some of these marquee contracts secured from prestigious clients demonstrate L&T's hi-tech manufacturing capabilities.

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.

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. These pieces of heavy engineering equipment are also a first-of-their-kind to be made by any Indian manufacturer, signifying a big boost to the Atmanirbhar Bharat mission.

Shares of Larsen & Toubro Limited was last trading in BSE at Rs. 1876.00 as compared to the previous close of Rs. 1911.45. The total number of shares traded during the day was 36136 in over 3635 trades.

The stock hit an intraday high of Rs. 1912.00 and intraday low of 1868.15. The net turnover during the day was Rs. 68068921.00.

Source : Equity Bulls

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LarsenandToubro INE018A01030 LT HeavyEngineering OrderWin Q2FY23