Larsen & Toubro’s power transmission and distribution business has received significant contracts in India and the Middle East, including a 75 MW floating solar photovoltaic facility in Jharkhand and West Bengal.
In a report to the BSE on Wednesday, Larsen & Toubro stated that its power transmission and distribution division had secured significant contracts in the Middle East and India.
The company received an order to install a floating solar PV plant on the dam with a capacity of 75 MW. This facility is a component of the ultra-mega renewable energy power park that is being built in West Bengal and Jharkhand on the reservoirs owned by the Damodar Valley Corporation.
According to Mint, The business has secured a turnkey substation building order in Saudi Arabia. Hydrocarbon businesses in Kuwait and Saudi Arabia have also placed orders with the business for substations and voltage conversions. An extra order has been placed for a 220 KV power supply project that is now underway in the United Arab Emirates.”
Large orders are those that come into the range of ₹2,500 crore to ₹5,000 crore, according to the company’s classification.
This occurred following the announcement on January 30, 2024, of Larsen & Toubro’s Q3 FY24 results. YoY, the top line grew by 18.84% and the profit by 15.45%. In comparison to the preceding quarter, there was an 8.04% increase in revenue and an 8.54% decline in profit.
Selling, general, and administrative costs grew by 6.46% year over year and decreased by 1.7% quarter over quarter. Operating income climbed 10.37% year over year and by 2.46% on a quarterly basis. For Q3 FY24, the EPS increased by 22.64% YoY to ₹21.42.
Two analysts have given the firm a sell recommendation, thirteen have given it a buy rating, and fourteen have given it a strong buy rating as of February 1st, 2024, out of the 29 analysts that have covered it.
A multinational corporation worth USD 23 billion, Larsen & Toubro is involved in high-tech manufacturing, services, and engineering, procurement, and construction (EPC) projects.
Additionally, the company has received orders for voltage conversion and substations from hydrocarbon businesses in Saudi Arabia and Kuwait. An extra order has been received for a 220 KV Power Supply Project that is now underway in the United Arab Emirates “.
