L&T wins significant heavy engineering orderLT - 3378 Change: 22.85 (0.68 %)
Larsen & Toubro has won significant orders (ranging from Rs1000-2500 crore) in Q2FY23 under the heavy engineering unit. In the global market, L&T 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. On the domestic front, L&T successfully bagged multiple strategic orders for IOC's Panipat P25 Project.
L&T has won these orders against stiff international competition on the back of a reliable performance. For Q1FY23, L&T registered strong order inflows at the group level worth Rs 41805 crore with Rs 363448 crores of order backlog, with international orders contributing 28%. L&T is on track to maintain its revenue and order inflow guidance of 12-15%, with core EBITDA margin of ~9.5%, for FY23.