- 31 Mar 2023
- ICICIdirect Research
Larsen & Toubro wins fourth order in March
LT - 2363 Change: 22.70 (0.97 %)News: L&T Construction has secured large orders (ranging from Rs 2,500 - Rs 5,000 crore) for its minerals & metals business from the Vedanta Group. First among the two orders pertain to Vedanta's unit Hindustan Zinc, where it will set up a 5 LTPA fertiliser plant, 1.8 LTPA phosphoric acid plant, and a 5.1 LTPA Di ammonia phosphate (DAP) plant in Rajasthan, within the main plant. The second order pertains to critical pot shell fabrication, assembly and installation including civil, structural and equipment installation works at the aluminium smelter complex at Balco Korba in Chhattisgarh. The Vedanta subsidiary aims to expand the capacity of the aluminium smelter complex by 435 KTPA
Views: With a strong order inflow of Rs 154429 crore for 9MFY23 with order backlog of Rs 386588 crore and improving margins, we are expecting L&T to achieve revenues and EBITDA CAGR of 15.1% and 16.6%, respectively, in FY22-25E. 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
Impact: Positive