Larsen & Toubro Secures Projects in Port Development, Shipyard Upgrade & Real Estate Contracts

L&T GeoStructure, a wholly owned subsidiary of Larsen & Toubro, has secured significant new orders across India. The biggest project involves constructing a South Breakwater Extension, Groynes, and a Breakwater Toe Protection Wall at Paradip Port, Odisha, for the Paradip Port Authority (PPA). This project entails extending the existing breakwater by 500 meters, building 10 Groynes totaling 1650 meters in length on the north side of the North Breakwater, and reinforcing the breakwater toe with steel/sheet piles to allow for a deeper draft in the approach channel.

L&T GeoStructure also secured an order from Hindustan Shipyard Limited (HSL) to upgrade Slipway-4 at their Visakhapatnam shipyard in Andhra Pradesh. The scope of this project includes upgrading the slipway itself, constructing a new crane track, and installing essential services like gas utilities and a firefighting system. Additionally, they will supply and erect a 300 MT Goliath crane.

L&T GeoStructure also won a contract from a prominent real estate developer in Chennai for substructure works. This project involves constructing a retention system with anchoring and deep excavation works. These multiple orders showcase L&T GeoStructure’s diverse capabilities in port development, shipyard infrastructure, and complex excavation projects. These projects are expected to be worth Rs 1,000 – Rs 2,500 crore.

Financial Performance

Larsen & Toubro Limited reported a robust third quarter for FY24, with a net sales increase of 18.84% to Rs 55,127.82 crore, compared to Rs 46,389.72 crore in the same quarter last year. The operating profit also experienced a significant increase of 8.48%. The net profit for the quarter stood at Rs 3,594.51 crore, which was Rs 3,065.93 crore in the previous year’s same quarter.

Business Overview

Larsen & Toubro (L&T) is a major technology, engineering, construction, manufacturing, and financial services conglomerate, with global operations. L&T addresses critical needs in key sectors – Hydrocarbon, Infrastructure, Power, Process Industries, and Defence – for customers in many countries around the world.

Stock Price Movement

Today, the stock opened at Rs 3,710.30, with a high and low of Rs 3,782.95 and Rs 3,699.00, respectively. The stock is currently trading at Rs 3,769.15, which increased by 1.70%. The stock has a 52-week high of Rs 3,782.95 and a 52-week low of Rs 2,122.95. The company has an ROCE of 11.6% and an ROE of 11.7%, with a market capitalization of Rs 5,17,108 crore.

The stock has shown impressive growth, and investors should keep a close eye on this stock.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.