- 23 May 2023
- ICICIdirect Research
L&T BAGS ORDERS WORTH OVER RS2500 CRORE IN INDIA, ABROAD
LT - 3551 Change: -37.60 (-1.05 %)News: L&T Construction's business unit has won large orders (ranging from Rs 2500-5000 crore) in Saudi Arabia, India for its power T&D business. In Saudi Arabia, the business has secured two orders to establish 380kV overhead power transmission lines connecting prominent cities situated on the Red Sea coast. Another order is to design, supply and construct a 380kV substation in the central region of Saudi Arabia. In India, the PT&D business continued its winning streak in the revamped reforms based and results-linked distribution sector (RDSS) scheme projects with fresh orders from a prominent Gujarat Discom. The scope of work involves modernisation and development of distribution infrastructure in three districts of Gujarat's southern region
Views:In FY23, L&T’s order inflow was at Rs 2.30 lakh crore vs. Rs 1.92 lakh crore. L&T’s total ordering prospects/pipeline for FY24E was at Rs 9.73 lakh crore. Order book was at Rs 3.99 lakh crore in FY23 with domestic orders contributing to 72% and international orders contributing to 28%. The company has given order inflow guidance of 10-12%, and revenue guidance of 12-15% for FY24
Impact: Positive