Larsen and Toubro stock secures order for cable stayed bridge; Check the order details

SYNOPSIS: L&T secured a Rs. 1,500-2,500 crore order for a key West Bengal cable-stayed bridge, while concerns over possible Kuwait oil project cancellations weighed on market sentiment.

During Tuesday’s trading session, shares of a Indian multinational engaged in EPC projects, hi-tech manufacturing, and services are in focus on the stock exchanges, after securing an order worth up to Rs. 2,500 crores for the transportation infra business.

At 10:48 a.m., shares of Larsen & Toubro Limited were trading in the red at Rs. 3,931.95 on BSE, down by over 2 percent, compared to its previous closing price of Rs. 4,018.5, with a market cap of Rs. 5.4 lakh crores.

The stock has delivered positive returns of over 13 percent in one year, but has fallen by around 4 percent in the last one month. As per its latest regulatory filing, the transportation infrastructure vertical of Larsen & Toubro Limited has secured a significant order valued between Rs. 1,500-2,500 crores for the construction of an arterial cable-stayed bridge over the Muri Ganga River in South 24 Parganas, West Bengal. 

The project scope involves the construction of a 2+2 lane, 3.2 km extradosed cable-stayed bridge with a maximum span of 177 meters, along with 0.9 km of approach road on the Kakdwip side and 0.65 km on the Sagar Island side. The bridge will be equipped with advanced traffic management systems, bridge health monitoring system, architectural bridge lighting and hybrid street lighting, and complete essential road furniture.

The project holds strategic and social importance, as it will provide direct, all-weather road connectivity to Sagar Island, which currently relies on ferry services that are frequently disrupted by weather conditions. The bridge is expected to significantly benefit over 2 lakh residents, improving access to healthcare, boosting mobility, and supporting local economic activity.

Separately, on 12th January, L&T has also executed a Share Purchase Agreement (SPA) to acquire the 40 percent stake held by Sapura Nautical Power Pte Limited in L&T Sapura Shipping Private Limited (LTSSPL), making it a wholly owned subsidiary. The acquisition, valued at around Rs. 122.4 crore, is expected to be completed by 31st January 2026, subject to customary conditions. In addition, LTSSPL will fully repay an outstanding shareholder loan of $16.93 million to Sapura.

However, the stock has also faced some pressure due to external developments. According to reports, Kuwait is reviewing the potential cancellation of several upstream oil project tenders worth around $8.7 billion, after bids reportedly exceeded budgeted estimates.

This development could be a near-term sentiment overhang for L&T, given its strong track record of winning large EPC contracts in the Middle East, including Kuwait. Any scaling back or restructuring of these tenders may temporarily impact order flow visibility from the region.

Financials

Larsen & Toubro Limited is an Indian multinational engaged in EPC projects, hi-tech manufacturing and a range of service sectors. It stands out as a major technology, engineering, construction, manufacturing and financial services conglomerate with global operations.

In Q2 FY26, L&T reported total order inflows of Rs. 1,15,800 crore, a strong 45 percent YoY increase, comprising Rs. 40,200 crore in domestic orders and Rs. 75,600 crore from international markets. The company’s order book also expanded significantly, rising 31 percent to Rs. 6,67,000 crore by September 2025. This includes Rs. 3,40,200 crore in domestic orders and Rs. 3,26,800 crore in international orders.

In Q2 FY26, L&T reported a consolidated revenue from operations of Rs. 67,984 crores, a growth of around 7 percent QoQ and 10 percent YoY. Net profit for the quarter stood at Rs. 4,678 crores, representing a rise of more than 8 percent QoQ and 14 percent YoY.

During the same period, the company’s debt-to-equity ratio stood at 1.09, with a current ratio of 1.25. Net profit margin was at 6.88 percent, while the operating margin was reported at 10.01 percent.

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