L&T's metals and minerals vertical wins 'mega' orders worth up to ₹15,000 crore; Stock volatile

Larsen and Toubro (L&T) Ltd. on Monday, July 20, said its metals and minerals business vertical secured 'mega' orders from leading domestic metals and mining companies, reinforcing its leadership in delivering world-class engineering, procurement and construction solutions across the value chain.

L&T classifies orders in the ₹10,000 crore to ₹15,000 crore range as 'mega' orders.

The first order is from a PSU company, which is India's largest ore producer, L&T said. As part of its expansion program to achieve 100 MTPA of iron ore production capacity by 2030, the firm has awarded L&T Package #BE-01C of the 18 MTPA Iron Ore Handling Plant in Chhattisgarh, it said in its exchange filing.

The scope of work includes design, engineering, procurement, installation and commissioning of downhill conveyor system, screening plant, stockpile, yard equipmwnt, rapid wagon loading systems (RWLS) and associated auxiliaries, L&T said.

L&T said the second order is from another PSU Navaratna firm, which has undertaken the expansion of a steel plant in West Bengal, from 2.5 MTPA to 7.1 MTPA. L&T said it has secured various design and build and plan packages for this.

The company said it also continues its association with a major private sector metals producer, as it secured an EPC order from a zinc processing plant. The scope of work includes design, engineering, procurement, installation, commissioning and associated site services, it added.

"This reaffirms L&T's enduring leadership in the minerals and metals EPC sector and reflects the deep trust customers place in our ability to deliver projects of exceptional scale and complexity," L&T's chairman and managing director SN Subrahmanyan said.

Shares of Larsen & Toubro have surged to the day's high after the order win, currently trading 0.4% higher at ₹3,828.6. The stock is down 9% over the last one month.

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