Stock Report

L&T Heavy Engineering arm wins Multiple Orders in Q3 FY23

Posted On : 2023-01-09 11:21:54( TIMEZONE : IST )

L&T Heavy Engineering arm wins Multiple Orders in Q3 FY23

The Heavy Engineering arm of Larsen & Toubro has won multiple orders (Significant) in Q3 of FY23.

In the overseas market, L&T Heavy Engineering secured orders for one of the heaviest Reactors and Screw Plug Heat Exchangers for a refinery in Mexico. These orders reflect the customer's faith on L&T Heavy Engineering's reliability and commitment. The Business also secured orders for supply of critical Reactors and Vessels for blue ammonia projects in USA and Uzbekistan. The Business also bagged strategic orders for process plant equipment from a European client. All the orders were won against stiff international competition on the back of reliable performance.

On the domestic front, L&T Heavy Engineering secured orders to manufacture critical Residue Upgrading Reactors and to design & manufacture High-pressure Screw Plug Heat Exchangers with complex Cr-Mo-V steel material for IOCL's Panipat Refinery P25 Expansion Project. These orders for manufacturing high technology equipment demonstrate L&T's continued focus towards 'Make in India'/ 'Atmanirbhar Bharat' initiative of the Government of India (GoI).

Further, L&T Heavy Engineering's Modification, Revamp and Upgrade (MRU) business segment won an order to revamp a rea plant on an EPC basis. The objective of the revamp is to improve reliability and safety of a very old (>50 yrs.) plant, increase this plant's capacity and enhance its energy efficiency to meet the GoI's stipulated norms.

Additionally, the Business secured a repeat order from a reputed fertilizer manufacturer for Fabrication and Installation of Steam Superheater Coils.

Shares of Larsen & Toubro Limited was last trading in BSE at Rs. 2086.25 as compared to the previous close of Rs. 2085.15. The total number of shares traded during the day was 119307 in over 3574 trades.

The stock hit an intraday high of Rs. 2122.05 and intraday low of 2072.30. The net turnover during the day was Rs. 249556483.00.

Source : Equity Bulls


LarsenandToubro INE018A01030 HeavyEngineering OrderWin Q3FY23