BackL&T arm bags orders worth ₹1,000 crore in second quarter
The L&T Heavy Engineering, the heavy engineering arm of Larsen & Toubro, has secured additional orders worth 1,050 crore in the second quarter this fiscal
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New Delhi: Infrastructure major Larsen and Toubro (L&T) on Monday said that its heavy engineering arm has bagged additional orders worth over ₹ 1,000 crore during the September quarter.
The L&T Heavy Engineering, the heavy engineering arm of Larsen & Toubro, has secured additional orders worth 1,050 crore in the second quarter this fiscal.
“These include three super heavy hydrocracking reactors for an Indian refinery...to be built for the first time in the world. The total order inflow in H1 FY19 for the process plant and nuclear equipment business of heavy engineering has reached ₹ 2,661 crore, a significant achievement after a prolonged subdued market scenario," Larsen and Toubro said in a BSE filing.
L&T Whole-Time Director (Power, Heavy Engineering and Nuclear) Shailendra Roy said these orders reflect the confidence the clients have in the company for supplying such critical reactors.
“We see a growing demand in the market due to buoyant crude prices and tightening of emission norms world over... Our state-of-the-art Hazira manufacturing Complex is well poised to cater to such a niche segment," he said.
L&T Heavy Engineering, the company said, has a proven track record of supplying technology-intensive reactors and systems to global companies in the refinery, oil & gas, petrochemical, fertiliser, thermal and nuclear power sectors.
Larsen & Toubro is an Indian multinational engaged in technology, engineering, construction, manufacturing and financial services with over ₹ 18 billion in revenue. It operates in over 30 countries worldwide.
Shares of the L&T were trading 1.61% down at ₹ 1,215.10 apiece on BSE.
This story has been published from a wire agency feed without modifications to the text. Only the headline has been changed.
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