L&T Bags "Significant" Order From Defence Ministry

On Friday, Larsen & Toubro (L&T) Ltd in a stock exchange filing said that its defence arm "has been awarded a Significant Contract by the Indian Ministry of Defence (MoD) for the Supply of four Regiments of Pinaka Weapon Systems."

"The contract involves supply of Pinaka Launchers, Battery Command Posts and associated Engineering Support Package (ESP) for four Regiments. The Pinaka Launch system has been indigenously developed by L&T as part of Pinaka development program of Defence Research
& Development Organization (DRDO, ARDE) and functions as a high tech, all weather, long range, area fire artillery weapon system," the company said.

As per the company's project classification, "significant" orders are those valued between Rs 1,000 crore and 2,500 crore.

L&T has already executed similar orders from Ministry of Defence and supplied two Regiments of Pinaka systems earlier.

"With these orders, L&T takes pride in attaining cumulative six out of ten Regiments of Pinaka systems with the Indian Army," the company said.

L&T Defence is also engaged with DRDO (Defence Research and Development Organisation) for future developments on this artillery system.

Shares of L&T were trading over one percent lower on Friday.

Earlier this week, the company announced the closure of the strategic divestment of its Electrical & Automation (L&T E&A) business to Schneider Electric