&w=3840&q=100)
Seeing strong growth amid global uncertainties: L&T's S N Subrahmanyan
Despite global uncertainty due to ongoing wars and supply chain disruptions, consistent order inflows from West Asia and rapid infrastructure investments in India are driving L&T's growth, its Chairman and Managing Director (CMD) S N Subrahmanyan said at the company's 80th Annual General Meeting (AGM) conducted online here on Tuesday.
'In India, strong government spending on infrastructure, and rising private investment in sectors like energy transition, data centres, semiconductors, and healthcare signal positive momentum,' the CMD said.
'Despite global uncertainty, your company delivered strong growth across key performance metrics. Group order inflows for the year (2024-25, or FY25) reached ₹3.57 trillion, up 18 per cent year-on-year (Y-o-Y), driven by order wins in infrastructure and energy sectors. Like the previous year, continued capex in the Gulf countries drove international order wins, which exceeded domestic order wins for the second year in a row,' Subrahmanyan said, adding that the company was keeping a close watch on the emerging Israel-Iran war situation.
The CMD described FY25 as a transformational year shaped by geopolitical shifts, emerging technologies, climate challenges, and supply chain disruptions. 'Amid these complexities, L&T demonstrated resilience by embracing digital tools, enhancing execution capabilities, and offering sustainable solutions,' he said.
The company ended the year with a record-high order book of ₹5.79 trillion, up 22 per cent Y-o-Y, with international orders accounting for 46 per cent of the total. Group revenues rose 16 per cent to ₹2.56 trillion, and net profit climbed 15 per cent to ₹15,037 crore during the year. Improved margins and reduced capital intensity lifted return ratios while continued deleveraging brought down the net debt-to-equity ratio to 0.6x from 0.64x a year earlier.
Subrahmanyan said much of the group's debt was now concentrated in L&T Finance, the group's non-banking financial arm. He reaffirmed L&T's focus on shareholder value creation through prudent capital allocation, strategic divestment of non-core assets, and investment in high-growth areas, such as energy transition and digital platforms.
The company's infrastructure business continued to anchor its growth, with the successful completion of multiple complex EPC (engineering, procurement, and construction) projects in India and abroad. In the energy segment, L&T has restructured its operations into four verticals — Hydrocarbon Onshore, Hydrocarbon Offshore, CarbonLite Solutions, and Green & Clean Energy — to align better with execution environments and strategic priorities.
The offshore unit secured the company's largest-ever order in West Asia while the rebranded CarbonLite Solutions focused on carbon capture technologies, nuclear turbine island systems, and pumped hydro storage. The Green & Clean Energy business was building a scalable ecosystem around renewables, reflecting the company's commitment to global decarbonisation efforts, he said.
On the services side, Subrahmanyan said LTIMindtree has emerged as India's sixth-largest information technology (IT) firm, enabling digital transformation for global clients, while L&T Technology Services has expanded its global presence with acquisitions in platform engineering, artificial intelligence (AI), and software product development.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Time of India
an hour ago
- Time of India
Israel-Iran war: AI cancels Sunday's Delhi to Frankfurt & Zurich flights due to airspace restrictions
NEW DELHI: Enroute airspace restrictions due to the Israel-Iran war forced Air India to cancel its Delhi-Frankfurt (AI 2029) and Delhi-Zurich (AI 151) flights on Sunday. This happened 'due to extended flight times caused by airspace closures in the Middle East amid rising tensions in the region. These closures would have exceeded the mandatory flight duty time limitations for the pilots. Consequently, AI2030 (Frankfurt-Delhi) and AI152 (Zurich-Delhi) also stand cancelled,' AI said in a statement. 'Air India deeply regrets the inconvenience caused to passengers due to this unforeseen disruption, which is beyond the airline's control. Our ground teams are committed to providing comprehensive assistance to affected passengers, including alternative flight options and full refunds, as per their preferences. At Air India, the safety of our passengers and crew remains our top priority,' it added. Air India and Air India Express together operate more than 1,100 flights a day, flying over 1.5 lakh passengers. AI has undertaken enhanced pre-flight safety checks and temporary reduction (15%) of services 'to uphold its commitment to safe operations. This will improve stability and will minimise last-minute inconvenience to passengers.' by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Install the Perfect Pool at Home – Start Here Backyard Pool | Search Ads Learn More Undo 'However, despite all efforts, due to extraneous factors such as airspace closures in the Middle East, nighttime curfew at several airports in Europe and East Asia, air traffic congestion, unforeseen operational issues, certain flights get delayed or cancelled. We notify passengers ahead of time to reduce inconvenience in case of planned delays or cancellations, but sometimes, certain challenges lead to last-minute disruptions,' AI added.
India.com
an hour ago
- India.com
Amid Israel-Iran war, India's 6 most valued firms earn Rs 1.62 lakh crore in just five days due to..., Mukesh Ambani's Reliance earns Rs...
Mukesh Ambani (File) While markets from United States to Asia have declined due to global tensions caused by the Israel-Iran war, which have been further exacerbated by America's entry into the war on Sunday, the Indian stock market remains unaffected, and is in fact witnessing a sort of boom, as six of country's 10 most-valued firms added a staggering Rs 1.62 lakh crore to their combined market capitalization (mcap) in the last week with Mukesh Ambani-led Reliance Industries, Sunil Mittal-owned Bharti Airtel and HDFC Bank, emerging as biggest gainers. Airtel, Reliance, HDFC biggest gainers According to market data, the market cap of telecom giant Bharti Airtel increased by Rs 54,055.96 crore, jumping to Rs 11.04 lakh crore, while the valuation of Mukesh Ambani-led Reliance Industries Limited surged Rs 50,070.14 crore to Rs 19.82 lakh crore, and HDFC gained Rs 38,503.91 crore, taking its mcap to Rs 15.07 lakh crore. Similarly, the market cap of Narayana Murthy-led IT giant Infosys increased by Rs 8,433.06 crore, reaching Rs 6.73 lakh crore, ICICI Bank mcap surged by Rs 8,012.13 crore to Rs 10.18 lakh crore, while SBI gained Rs 3,212.86 crore taking its market valuation to Rs 7.10 lakh crore. TCS, Bajaj Finance among laggards Meanwhile. Bajaj Finance, Tata Group's Tata Consultancy Services (TCS)– India's largest IT services exporter, Hindustan Unilever Limited (HUL), and LIC, emerged as laggards during the trade week. The mcap of Bajaj Finance decreased by Rs 17,876.42 crore to Rs 5.62 lakh crore, while TCS fell Rs 4,613.06 crore to Rs 12.42 lakh crore. The market value of HUL declined by Rs 3,336.42 crore to Rs 5.41 lakh crore, and that of LIC now stands at Rs 5.92 lakh crore after losing Rs 1,106.88 crore. Reliance remains India's most-valued domestic company Notably, Mukesh Ambani-led Reliance Industries remains India's most-valued domestic firm, followed by HDFC Bank, TCS, Bharti Airtel, ICICI Bank, SBI, Infosys, LIC, Bajaj Finance, and Hindustan Unilever (HUL). The current market of Reliance Industries is estimated at Rs 19.82 lakh crore.
Mint
2 hours ago
- Mint
Israel-Iran conflict effect? India ramps up crude oil imports from Russia, US in June 2025
India has increased its crude oil purchases from Russia and the United States in June 2025, as the import volumes from the two nations exceed the combined volumes from Middle Eastern suppliers amid the market volatility due to the Israel-Iran conflict, reported the news agency PTI. India's primary suppliers for crude oil in the Middle East are nations like Saudi Arabia and Iraq. This comes amid US President Donald Trump's announcement that America had carried out coordinated airstrikes targeting three nuclear facilities in Iran. Indian refiners are expected to import 2 million to 2.2 million barrels of crude oil per day in June 2025, marking the highest level of russian oil imports in the last two years, according to the agency report citing Kpler data. The crude oil imports from Russia were at 1.96 million barrels per day in May 2025. This expected hike in volumes is also set to beat the total volumes bought from Gulf nations like Iraq, Saudi Arabia, the UAE and Kuwait, as per the report. On the crude imports on the US front, Indian refiners' crude oil imports from the United States' also jumped to 4,39,000 barrels per day in June 2025, compared to their 2,80,000 barrels per day levels in the previous month. The data report also showed how the full-month projects from crude oil imports from the Middle East into India stood at 2 million barrels per day, lower than the May 2025 levels, according to the agency report. India started importing cheaper oil from Russia soon after the Russia-Ukraine war in February 2022 due to the higher discounted rates post the economic sanctions from the United States. India buys nearly 5.1 million barrels of crude oil, which is then refined to be converted into fossil fuels like petrol and diesel However, so far in the Israel-Iran conflict, there have been no crude oil supply cuts or disruptions in the oil trade, which can potentially drive up oil prices around the world. 'While supplies remain unaffected so far, vessel activity suggests a decline in crude loadings from the Middle East in the coming days,' Sumit Ritolia, Lead Research Analyst, Refining & Modeling at Kpler, told the news agency. 'Shipowners are hesitant to send empty tankers (ballasters) into the Gulf, with the number of such vessels dropping from 69 to just 40, and (Middle East and Gulf) MEG-bound signals from the Gulf of Oman halving,' he said. The global situation of uncertainty caused by the raging Israel-Iran war now risks Tehran retaliating by closing the Strait of Hormuz. The Strait of Hormuz is a strategically important trade passage for global crude oil as the strait links the Gulf of Oman, the Arabian Sea, and the Persian Gulf. According to multiple media reports, the Strait of Hormuz handles nearly a quarter of the world's oil trade. Hence, any potential move to close the passage will result in the escalation of the already raging war. Experts cited in media reports indicate that if there is an oil supply disruption, crude prices can jump to $400 per barrel. 'Yet, Kpler analysis assigns a very low probability to a full blockade, citing strong disincentives for Iran,' Ritolia told the news agency. The route serves as a major route for world oil and LNG export transit, and agency reports show that India imports nearly 40 per cent of all its crude oil and nearly 50 per cent of its gas imports from the Strait of Hormuz, which links to many Gulf nations. The Kpler data cited in the agency report also estimates that in case any disruption happens, it will result in 24 to 48 hours of isolation before major nations like the US step in to counter the retaliation. Meanwhile, the agency also highlighted that Russian oil imports are detached from Hormuz and are imported via the Suez Canal, Cape of Good Hope, or the Pacific Ocean. 'If conflict deepens or there is any short-term disruption in Hormuz, Russian barrels will rise in share, offering both physical availability and pricing relief. India may pivot harder toward the US, Nigeria, Angola, and Brazil, albeit at higher freight costs,' said the expert cited in the agency report. As of 19 June 2025, Russian crude oil accounted for 35 per cent of India's total crude imports. The Indian refiners are watching the geopolitical landscape and are likely to adjust procurement strategies to prioritise energy security, supply stability, and commercial viability if risks in the Middle East escalate, according to the agency report.
