Prime Highlights
- L&T wins a major order worth up to ₹5,000 crore from Kuwait Oil Company for Jurassic Light Oil export facilities.
- L&T marks its fourth straight session of order wins, taking its tally to nearly ₹50,000 crore.
Key Facts
- L&T shares rise 3% to ₹3,948 after Q1 results and fresh order win, narrowing its year-to-date decline to 5%.
- L&T maintains FY27 guidance as order inflow delivers a strong positive surprise.
Background
L&T has now won orders for four consecutive sessions, with its energy hydrocarbon onshore arm bagging a major contract from Kuwait Oil Company (KOC) covering the key Jurassic Light Oil (JLO) export facilities and upgrades to the existing export network. Orders valued between ₹2,500 crore and ₹5,000 crore fall under the company’s “major” category.
Over this run, L&T has secured a mix of major, large, mega and ultra-mega orders, taking its overall order wins to close to ₹50,000 crore.
The Kuwait order, an engineering, procurement and construction (EPC) contract, covers new crude oil storage tanks along with pipelines and upgrades to Kuwait’s crude loading and export network to support rising production, L&T said in an exchange filing.
ES Sathyanarayanan, vice-president and head of L&T energy hydrocarbon onshore, called the Jurassic Light Oil export infrastructure an important investment in Kuwait’s energy sector and affirmed the company’s commitment to supporting its energy goals through strong project execution.
L&T maintained its FY27 guidance following its June quarter results, with order inflow delivering a strong positive surprise. Shares rose 3% after the announcement to trade at ₹3,948, with analysts projecting further upside to ₹5,000 apiece.
The stock has also narrowed its year-to-date decline to 5%. L&T’s continued order momentum reflects its widening reach in the Middle East’s energy and infrastructure space, and the Kuwait contract adds weight to its reputation as a go-to EPC partner for major oil and gas projects there.
