L&T shares jump 2% as subsidiary secures large order from ONGC; all you need to know

The order secured by subsidiary L&T Energy Hydrocarbon Offshore (LTEH Offshore) involves additional development of Ratna–I (ADR I) and the NLM-14 project off the country’s west coast.

Worth between ₹2,500 crore and ₹5,000 crore, the project includes engineering, procurement, construction, installation and commissioning (EPCIC) of three new well-head platforms, one riser platform, multiple segments of subsea pipelines and cables, and brownfield modifications to existing offshore installations. It is aimed at enhancing production and supporting the continued development of ONGC's offshore assets in the region.

“The ADR-I and NLM-14 developments are significant additions to India's offshore energy infrastructure and demonstrate the continued investment in enhancing production from established offshore assets. These projects combine new offshore facilities with brownfield modifications in existing operating fields, calling for careful planning, engineering integration and precise execution,” said Parthasarathi Chatterjee, Senior Vice President & Head—L&T Energy Hydrocarbon Offshore.

“Drawing on our extensive offshore EPCIC experience, we look forward to delivering these developments safely and efficiently, while supporting ONGC’s long-term production objectives,” Chatterjee added.

Over the past four decades, the company said that LTEH Offshore has executed a wide range of projects, including fixed platforms, subsea pipelines and structures and brownfield upgrades, as well as decommissioning assignments.

LTEH Offshore provides integrated EPCIC solutions for the offshore oil and gas industry. The company has in-house engineering capabilities, fabrication facilities and a dedicated fleet of marine vessels, and has delivered shallow-water and deep-water offshore developments across global markets.

L&T Q1 FY27 earnings

The EPC major posted a 13.98% year-on-year (YoY) increase in its consolidated net profit (attributable to the owners of the company) to ₹4,122.85 crore for the quarter ended June 30, 2026. In the corresponding period of the previous fiscal year, it had logged a profit of ₹3,617.19 crore.

Sequentially, however, it fell 22.58% quarter-on-quarter (QoQ) from ₹5,325.60 crore in the fourth quarter of the 2025-26 fiscal year (Q1 FY26).

The company recorded a consolidated revenue from operations of ₹67,942 crore during the quarter under review, marking a 6.69% YoY jump from ₹63,679 crore in the first quarter of FY26 (Q1 FY26).

At an operational level, its EBITDA (earnings before interest, tax, depreciation and amortisation), also known as operating profit, fell 3% YoY to ₹6,116 crore in the quarter ended June 30, 2026, as against ₹6,318 crore in the year-ago period.

Its EBITDA margin contracted by 90 basis points (bps) YoY to 9% for the reporting quarter, from 9.9% in the June FY26 quarter.

L&T share price trends

At 10:38 AM, L&T shares were trading at ₹3,994.40 apiece on the National Stock Exchange, gaining 1.22%.

From the beginning of the year, L&T shares have declined 4%. Over a month’s time, the stock has slipped 2%, while for the six-month period, the stock has jumped 4%.

Shares of the firm had hit a 52-week high of ₹4,440 on February 24, 2026, and a 52-week low of ₹3,288.10 on March 23, 2026.

According to NSE data, as of September 9, 2026, L&T has a total market capitalisation of ₹5.50 lakh crore.