L&T Bags Order Worth Rs 5100 Crore

EPC giant Larsen & Toubro (L&T) bagged order worth Rs 5100 crore. This is a turnkey order to set up two 660 MW thermal  power projects at Shree Singaji TPP (Stage II) on Engineering- Procurement- Construction basis MP power generating company (MPPGCL).
 
L&T needs to complete the project in the span of 43/47 months (unit wise). Significantly, this is a repeat order to L&T from the same state utility, which had placed an EPC order. EPC stands for Engineering-Procurement- Constructions in which the contractor will carry out detailed engineering and design of the project, procure all the equipment and then construct to deliver, a functioning facility or asset to the client.
 
Shailendra Roy, Whole time director (power, minerals & metal), L&T, said the “First unit of Sri Singaji TPP has gone commercial. The awarding of the stage II of Shree Singaji thermal power project affirms L&T’s credentials in EPC execution of power plants under critical schedules”.
 
Currently L&T is executing a number of EPC, boiler-turbine-generator (BTG), Balance of Plants (BOP) power projects in India and abroad. The current order book of L&T stands at Rs 195400 crore in June’2014, up 13% on a Y-o-Y basis. Of this order book, domestic order book is 74% and international order book 26%. The EBITDA margins for the company stood at 13.30 % in June’2014 quarter as compared to 10.90% in June’2013 quarter.
 
L&T is one of the most preferred and reputed EPC contractors, having a strong order book. The investors’ confidence and strong fundamentals of Larsen &Toubro reflects in its stock price. The stock is currently trading at Rs 1610 per share, up 1.32%.