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News: L&T's hydrocarbon arm has won mega contracts (> Rs 7,000 crore) to build new offshore facilities. The hydrocarbon business of L&T has recently secured multiple offshore packages from a prestigious client in the Middle East. The scope of work comprises EPC & installation for various new offshore facilities and integration with existing installations
Views: L&T’s total ordering prospects/pipeline for Q4FY23E is at Rs 487000 crore, comprising Rs 382000 crore of domestic and Rs 105000 crore of international pipeline. With a strong order inflow of Rs 154429 crore for 9MFY23 with order backlog of Rs 386588 crore and improving margins, we expect L&T to achieve revenues and EBITDA CAGR of 15.1% and 16.6%, respectively, over FY22-25E
Impact: Positive