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Large cap stock in focus after company received work order of upto ₹ 2,500 Cr for Solar PV Plant

Published 24-06-2024, 01:39 pm
Large cap stock in focus after company received work order of upto ₹ 2,500 Cr for Solar PV Plant

Leading Multinational Conglomerate which is one of the leading players in domestic and overseas Markets, for providing EPC Solutions across various sectors in focus upon receiving a work order of upto Rs. 2,500 Crores to build a Solar PV Plant along with Battery Energy Storage System.

With a market capitalization of Rs. 4,89,178 Crores, the shares of Larsen & Toubro Limited were trading at Rs. 3,559.40 per equity share, up 0.74 percent from the previous day’s close price of Rs. 3,533.10.

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The Power Transmission & Distribution (PT&D) vertical of Larsen & Toubro Limited has received a domestic work order worth Rs. 1,000 – 2,500 Crores to build a grid-connected 185MW Solar PV Plant along with a 254 MWh Battery Energy Storage System (BESS) having multitudes of MWh capacity.

The Solar PV plant at Kajra in Lakshisarai district will be a key element in Bihar’s plans to harness renewable energy for sustainable energy solutions towards combating climate change and meeting demand growth.

The Battery Energy Storage System (BESS), with a capacity of 254MWh, will enable storing solar energy during low-demand periods and discharging when the demand peaks. In addition, the BESS will also help smooth the fluctuations in generation, frequency regulation, and voltage support. It comes with a black start capability to the grid that will facilitate quick re-energization after an outage.

Commenting on the order win, Mr A Ravindran, Sr Vice President & Head of Renewable Strategic Business Group, PT&D, said “This is a welcome addition to our Renewable EPC portfolio of 18 GWp (Gigawatt Peak) cumulative capacity, comprising solar and wind generation projects already commissioned and in the making. On the Battery Energy Storage System front, we handle more than 1.5 GWh of storage capacity. This rich experience has made us the EPC partner of choice for developers globally”.

Mr T Madhava Das, Whole-time Director & Sr Executive Vice President (Utilities) – Larsen & Toubro, complemented saying: “Our expertise in providing renewable energy solutions encompasses a vast array of technologies involved in ground-mounted and floating solar generation, grid scale and distributed energy storage systems, efficient transmission and distribution networks and allied digital energy solutions.

Our footprint in facilitating clean energy extends to multiple geographies including India, Middle East and the Far East, enabling our customers to develop GW-scale projects economically with safety, quality and timely delivery”

Larsen & Toubro Limited is a multinational conglomerate operating in over 50 countries, it is primarily engaged in providing engineering, procurement, and construction (EPC) solutions

across major sectors such as Hydrocarbon, Power, Infrastructure, Information Technology, Defence, and Financial Services in domestic and international markets.

It has a strong order book worth Rs. 4,758 Billion, of which International orders are 61.97 percent (Rs. 2949 Billion) and Domestic orders are 38.02 percent (Rs. 1,809 Billion).

The segmental order breakup is as follows Infrastructure projects 65 percent, Energy 25 percent, Hi-Tech manufacturing 7 percent, and others 3 percent. As per the geography, 62 percent are domestic projects, 35 percent in the Middle East, USA & Europe 0.3 percent, and 3 percent in the rest of the world.

As for the revenue breakdown, It generates 51 percent of its revenue from the Infrastructure segment, 29 percent from services, 13 percent from energy, 4 percent from Hi-Tech manufacturing, and 3 percent from other segments.

Its Revenue from Operations grew by 7.67 percent from Rs. 36,734 Crores in Q4FY23 to Rs. 39,553 Crores in Q4FY24, accompanied by profits of Rs. 3,002.85 Crores to Rs. 2,666.07 Crores.

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Written by: Bharath K.S


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