L&T secures multiple orders for its metals & minerals segment for ₹10,000 to ₹15,000 crore

Shares of india’s leading conglomerate L&T traded in green on Monday morning, despite broader weakness in the markets. The positive bias was driven by important order win, which the company announced in opening market hours.

The L&T shares traded 0.1% higher on Monday at ₹3,820 apiece on the NSE, after hitting intraday high of ₹3,832 per share. While, the NIFTY50 index traded over 168 points lower.

The company said, through exchange filing that, it has won a mega orders for its metals and minerals business segment. The order size is expected to be in the range of ₹10,000 crore to ₹15,000 crore as per company’s order classification.

The exchange filing read, “The Metals & Minerals (M&M) business vertical of L&T has secured multiple orders from leading domestic metals and mining companies, reinforcing its leadership in delivering world-class engineering, procurement and construction (EPC) solutions across the metals and minerals value chain”.

The first order was given by a public sector company, for EPC project of iron ore handling plant in Chattisgarh. The public sector company aims to achieve 100 MTPA iron order production by 2030.

The second order was awarded by a Navratna company which has undertaken the expansion of Steel Plant in West Bengal, from 2.5 MTPA to 7.1 MTPA.The company has secured various Design & Build and Balance of Plant packages for this.

Additionally, the company also said, “L&T also continues its long-standing association with a major private sector metals producer, having secured an EPC order for a Zinc Processing Plant. The scope comprises design and engineering, procurement, installation, commissioning and associated site services, reaffirming L&T's expertise in delivering complex non-ferrous metallurgical projects”.

Commenting on the development, Mr S N Subrahmanyan, Chairman & Managing Director, L&T, said: "This reaffirms L&T's enduring leadership in the minerals and metals EPC sector and reflect the deep trust customers place in our ability to deliver projects of exceptional scale and complexity. As India accelerates investments in augmenting its Metals & Minerals capacity to support long-term economic growth, L&T remains committed to partnering with the country's leading enterprises in developing world-class industrial infrastructure”