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    500510   INE018A01030

LARSEN & TOUBRO LIMITED

(500510)
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Larsen & Toubro : L&T concludes the divestment of 99 MW Hydro Power Plant with Renew Power

09/01/2021 | 09:59am EDT

Mumbai - L&T concluded the divestment of its 100% stake in the 3 x 33 MW (99 MW) hydroelectric power plant at Singoli-Bhatwari in Uttarakhand. As per the terms, the EPC Projects, Hi-Tech Manufacturing and Services conglomerate received a consideration of ? 1,001.50 crores as divestment proceeds from Renew Power on August 30th 2021. This deal is in line with the company's strategy to pursue the divestment path for all non-core assets in its portfolio.

Mr. D K Sen, Whole-time Director & Sr. Executive Vice President (Development Projects), L&T, said, 'We have already identified our non-core assets in Nabha Power, a 2x700 MW supercritical thermal power plant at Rajpura, Punjab, L&T Infrastructure Development Projects Ltd (L&T IDPL), our subsidiary primarily engaged in road projects and power transmission lines and Hyderabad Metro, the largest Public-Private Partnership (PPP) project in the Metro rail sector for divestment. We will work out the divestment process of all these assets over a period of time.'

Background

Larsen & Toubro is an Indian multinational engaged in EPC Projects, Hi-Tech Manufacturing and Services. It operates in over 50 countries worldwide. A strong, customer-focused approach and the constant quest for top-class quality have enabled L&T to attain and sustain leadership in its major lines of business for eight decades.

Contact:

Yuvraj Mehta

Head

Corporate Brand Management & Communications

E: Yuvraj.mehta@larsentoubro.com

T: +91 85888 88272

Ketan Bondre

Head

Media Relations

(C) 2021 Electronic News Publishing, source ENP Newswire

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Financials
Sales 2022 1 566 B 20 879 M 20 879 M
Net income 2022 96 316 M 1 284 M 1 284 M
Net Debt 2022 1 122 B 14 963 M 14 963 M
P/E ratio 2022 26,1x
Yield 2022 1,27%
Capitalization 2 513 B 33 507 M 33 502 M
EV / Sales 2022 2,32x
EV / Sales 2023 2,05x
Nbr of Employees 40 253
Free-Float 86,0%
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Mean consensus BUY
Number of Analysts 36
Last Close Price 1 789,10 INR
Average target price 1 911,86 INR
Spread / Average Target 6,86%
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Managers and Directors
Sekharipuram Narayan Subrahmanyan Chief Executive Officer, MD & Executive Director
Ramamurthi Shankar Raman Chief Financial Officer & Executive Director
Anil Kumar Manibhai Naik Group Non-Executive Chairman
A. Sivaram Nair Secretary & Compliance Officer
Mukund Manohar Chitale Independent Non-Executive Director
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