L&T wins orders worth $358 million in Q1

L&T wins orders worth $358 million in Q1
Larsen & Toubro or L &T said on Friday that it has won fresh orders worth Rs 16.1 billion or $ 358.14 million in April -June, 2012.

The $ 11.7 billion engineering and construction major said that the orders were in the metallurgical and material handling space with Tata Steel and Indiabulls among the buyers.

The company said that a vast number of its new orders relate to the Kalinga Nagar project of Tata Steel in Orissa where it is setting up four new Coke Oven Batteries, each of 0.75 million tonne per annum (MTPA) capacity along with a by-product plant .This would be L&T's third project in the Coke Oven construction business which has very few competitors.

Besides this, L&T is also engaged in the construction of a coke oven complex in Jamshedpur for Tata Steel's project and in Meramandali, Orissa for Bhushan Steel's project. The company is also constructing a Blast Furnace, Sinter plant, Steel Melting Shop and other units of Tata Steel's6 MTPA Kalinga Nagar project.

L&T also secured a new order worth Rs 240 crore from Indiabulls Power Limited for its civil and structural works, coal and ash handling plants for Indiabulls' Amravati & Nashik Thermal Power Projects (Phase II) in Maharashtra.

View: The company is well positioned compared to its competitions. But with a slowdown it too will have not be abe to increase its order book at a fast pace. 

From an investor perspective, the company is at its premium high. Keep an eye on the stock and buy at reasonable prices. 

Read more about: larsen and toubro, bse, nse, order book
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