Latest news with #LarsenToubro
Zawya
16 hours ago
- Business
- Zawya
L&T lands key Middle East grid infrastructure contracts
Indian engineering and construction conglomerate Larsen & Toubro (L&T) has announced that its Power Transmission & Distribution (PT&D) business vertical has secured new grid infrastructure orders in the Middle East as well in the Indian market. In the Middle East, the PT&D business has clinched orders for executing a set of 220kV and 132kV gas insulated substations on a turnkey basis, said L&T in a statement. These orders come from leading transmission asset owners and operators in the respective countries, it stated. In India, L&T has won an order to build 765kV and 400kV transmission line jobs pertaining to the integration of a Renewable Energy Zone in the southern state of Andhra Pradesh. These new orders mark a key milestone for PT&D in its pursuit of delivering future-ready grid infrastructure to help realise the energy transition and sustainable energy goals of its valued customers, it added.
Zawya
2 days ago
- Business
- Zawya
GE Vernova-Larsen & Toubro Consortium to Build Advanced National System Control Center (NSCC) for the Kenya Electricity Transmission Company (KETRACO) in Kenya
New centers being built at Embakasi and Suswa with advanced grid technology for efficient electricity transmission. GE Vernova to provide advanced grid technology and software, with Larsen&Toubro handling all civil works. Project financed by France through the French Development Agency and the French Treasury. GE Vernova Inc.(NYSE:GEV) ( today announced that the GE Vernova-Larsen&Toubro (L&T) consortium will build an advanced National System Control Center (NSCC) for Kenya Electricity Transmission Company (KETRACO) to monitor and manage Kenya's national electricity grid. The work will include constructing a Main Control Centre building in Embakasi, equipped with advanced grid software solutions and the latest substation automation, monitoring, and communication equipment. Additionally, an Emergency Control Centre building in Suswa will be constructed, featuring the same systems and an Enterprise Asset Management (EAM) system for transmission operations. GE Vernova booked the order in the first quarter of 2025. Kenya's Electricity Goals Kenya has set ambitious electricity goals aimed at achieving universal access and transitioning to a sustainable energy future. The country aims to ensure that 100% of its population has access to reliable and affordable electricity by 2030 ( To achieve this, Kenya is investing heavily in expanding its electricity grid and enhancing generation capacity. Additionally, Kenya is focusing on enhancing energy efficiency and developing smart grid technologies to optimize electricity transmission, distribution and consumption. 'A new, advanced NSCC is essential for managing increased electricity demand as Kenya's economy grows. When commissioned, the new NSCC system would play a critical role in supporting our mandate as System Operator(SO). It will ensure reliable, secure, and efficient electricity transmission across the country. It is a game-changer for Kenya's electricity transmission capabilities, significantly improving our ability to manage the grid, enhance the quality of power, and integrate renewable energy sources,' said Dr. Eng. John Mativo, MBS, Managing Director and CEO at KETRACO. Consortium Roles and Responsibilities GE Vernova, through its French entity Grid Solutions SAS, will lead the consortium and provide advanced grid technology from its Electrification Software and Grid Automation portfolio. This technology includes two solutions from its GridOS® orchestration software portfolio—Advanced Energy Management Systems (AEMS) ( and Wide Area Management Systems (WAMS) ( Asset Management Systems (EAM), and several solutions from its grid automation portfolio - GridBeats™ ( - Asset Performance Management System (APM), Condition Monitoring devices ( Substation Automation Systems ( and Telecommunication Systems ( Larsen&Toubro will handle all civil works, including the construction of two fully equipped greenfield control center buildings, equipment installation, and support for system configuration, testing, and commissioning. The project is expected to be completed within three years. 'GE Vernova is uniquely positioned to handle projects of this scale and complexity, requiring both advanced software solutions and grid automation equipment, as well as unique financing solutions. With our comprehensive capabilities in managing such projects end-to-end, we believe KETRACO will significantly benefit from GE Vernova's expertise, ensuring seamless integration and operational efficiency from project inception to completion,' said Philippe Piron, CEO of GE Vernova's Electrification Systems businesses. 'By providing Kenya with an advanced electricity control center, we're aiming to enhance the reliability and efficiency of its national grid. This is a pivotal step in paving the way for a more sustainable future that supports the country's electrification and decarbonization goals.' Financial and Development Support The project is made possible through a financing partnership with the French Development Agency (AFD) and the French Treasury, which are providing vital support to KETRACO for the development of a stronger and more sustainable electricity grid in Kenya. This collaboration reflects a shared commitment to advancing Kenya's energy goals by enabling more reliable and efficient power infrastructure. 'France is committed to supporting sustainable infrastructure projects in Kenya, notably in the Power sector, as part of the broader ongoing collaboration between Kenya and France on energy transition and climate. A modern NSCC will make the Kenyan grid more resilient and reliable, enabling the integration of more variable renewable energy and ultimately providing more reliable and affordable power to Kenya's businesses and households. The project is fully financed by France with two separate and complementary financing from AFD and the French Treasury, supported by a related grand from the European Union dedicated to Capacity building,' said H.E Arnaud Suquet, the French Ambassador to Kenya. GE Vernova's Financial Services business played an integral role in the procurement process, advising the consortium and securing concessional financing from the French Treasury to supplement AFD's funding. This seamless partnership showcases the importance of combining technical expertise with innovative financing to deliver impactful, future-ready energy solutions. Distributed by APO Group on behalf of GE. Notes to Editors: A National System Control Center (NSCC) is like a central brain of a country's electricity grid. It's responsible for monitoring, controlling, and optimizing the flow of electricity across the entire power system. It can also effectively integrate renewable energy sources like solar, wind, and geothermal into the grid. Real-time monitoring allows for prompt corrective actions, improving grid stability and reducing the risk of power outages and blackouts. Media Contact – GE Vernova: Rachel Van Reen Media Relations GE Vernova +1 678 896 6754 Anshul Madaan Media Relations GE Vernova +91 8377880468 Winnie Gathage Africa Communications Leader GE Vernova +254 704 873 459 Media Contact – KETRACO: Raphael Mworia Manager, Corporate Communications rmworia@ +254 702 949 951 +254 719 018 000 Social Media: Linkedin: About GE Vernova: GE Vernova Inc. (NYSE: GEV) is a purpose-built global energy company that includes Power, Wind, and Electrification segments and is supported by its accelerator businesses. Building on over 130 years of experience tackling the world's challenges, GE Vernova is uniquely positioned to help lead the energy transition by continuing to electrify the world while simultaneously working to decarbonize it. GE Vernova helps customers power economies and deliver electricity that is vital to health, safety, security, and improved quality of life. GE Vernova is headquartered in Cambridge, Massachusetts, U.S., with approximately 75,000 employees across 100+ countries around the world. Supported by the Company's purpose, The Energy to Change the World, GE Vernova technology helps deliver a more affordable, reliable, sustainable, and secure energy future. Learn more: GE Vernova ( and GE Vernova in Middle East&Africa ( GE Vernova's Electrification segment includes Grid Solutions, Power Conversion, Solar and Storage Solutions, —collectively referred to as Electrification Systems —and digital technologies, referred to as Electrification Software. The solutions offered by this segment are essential for the transmission, distribution, conversion, storage, and orchestration of electricity from point of generation to point of consumption. About KETRACO: KETRACO, owned by the Government of Kenya, was incorporated on 2 nd December 2008 under the Companies Act, pursuant to the reforms in Sessional Paper No.4 to plan, design, construct, own, operate, and maintain high voltage national electricity transmission lines and regional power inter-connector which form the backbone of the National Electricity Grid. In carrying out its mandate, the Company is developing a new robust grid system to: Improve quality, reliability, and safety of electricity supply throughout the Country. Transmit electricity to areas that are currently not supplied by the national grid. Evacuate power from planned generation points. Provide a link with the neighbouring countries to facilitate power exchange and trade in the East Africa Region Reduce electricity transmission losses hence reducing the cost to the economy. Protect electricity consumers from the high costs of power by absorbing the capital transmission infrastructure. Forward Looking Statements: This document contains forward-looking statements – that is, statements related to future events that by their nature address matters that are, to different degrees, uncertain. These forward-looking statements address GE Vernova's expected future business and financial performance, and the expected performance of its products, the impact of its services and the results they may generate or produce, and often contain words such as 'expect,' 'anticipate,' 'intend,' 'plan,' 'believe,' 'seek,' 'see,' 'will,' 'would,' 'estimate,' 'forecast,' 'target,' 'preliminary,' or 'range.' Forward-looking statements by their nature address matters that are, to different degrees, uncertain, such as statements about planned and potential transactions, investments or projects and their expected results and the impacts of macroeconomic and market conditions and volatility on business operations, financial results and financial position and on the global supply chain and world economy.
Reuters
22-05-2025
- Business
- Reuters
S Earnings revival signals turnaround for Indian firms in fiscal year 2026, brokerages say
May 21 (Reuters) - Improving sequential quarterly earnings at top Indian firms such as Reliance Industries and Larsen & Toubro has eased concerns over earnings pressure, with analysts forecasting a likely fundamentals-driven rebound in Asia's third-largest economy on renewed investor confidence. Three consecutive quarters of weak earnings contributed to the benchmark Nifty 50's (.NSEI), opens new tab nearly 9% decline between October and March. However, strong March-quarter results and easing global headwinds helped the index gain 5.5% so far in fiscal 2026. Bernstein pointed out that the beat ratio - the share of companies that report better-than-estimated results - among NSE 100 firms is at 51%, its highest since mid-2023, a sign of a turnaround for Indian corporates. That number stood at around 40% in the past five quarters. "We have successfully avoided the worst-case earnings projections that resulted from continuous (earnings) downgrade revisions since September last year," said Bernstein analysts Venugopal Garre and Nikhil Arela. Brokerage Motilal Oswal reported stronger-than-expected earnings growth from the companies it covers, and Morgan Stanley noted broad-based revenue and profit outperformance across key sectors such as communication, healthcare, and industrials. Bernstein is projecting a 15% earnings growth for the top 100 NSE stocks in the ongoing fiscal year 2026, with momentum expected to pick up in the second half. Improved liquidity, potential rate cuts, higher government spending, and benign commodity prices create a supportive backdrop for earnings outlook for fiscal 2026, according to analysts. However, the recovery is likely to be gradual, with potential pressure from slowing credit growth in banks and uneven consumption trends, they noted. Unlike fiscal 2025, when concerns surfaced mid-year, risks of trade war and bank margin pressures are already priced into fiscal 2026 earnings forecasts, said Mahesh Nandurkar of Jefferies, adding that earnings are likely to prove more resilient in fiscal 2026 as a result. The March-quarter beat ratio for the companies in Jefferies' coverage rose to 41% - a three-quarter high. Index heavyweight Reliance Industries ( opens new tab reported strong results, led by retail and telecom segments, while Larsen & Toubro ( opens new tab - among the top 10 heaviest-weighted firms in the Nifty 50 - beat estimates and forecast higher fiscal 2026 margins on strong order inflows. Private banks such as ICICI Bank ( opens new tab and HDFC Bank ( opens new tab powered ahead, offsetting softer numbers from Kotak Mahindra Bank ( opens new tab Non-lending financials - insurers and capital market players - also beat analyst expectations. IT firms (.NIFTYIT), opens new tab, on the other hand, struck a cautious tone as global trade jitters and uncertainty over the U.S. economy weighed, given the sector's high exposure to the geography. In the consumer space, it was a tale of two halves. Staples majors Hindustan Unilever ( opens new tab and Nestle India ( opens new tab wrestled with tepid volumes and rising costs, while durables companies such as Havells India ( opens new tab and RR Kabel ( opens new tab lit up with strong growth, helped by steady demand.
Yahoo
09-05-2025
- Business
- Yahoo
Larsen & Toubro Ltd (LTOUF) Q4 2025 Earnings Call Highlights: Record Order Book and Strong ...
Release Date: May 08, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Larsen & Toubro Ltd (LTOUF) reported a strong growth in group order inflows for FY25, with an 18% year-on-year increase, reaching INR 3,566 billion. The company's order book stands at a record INR 5,791 billion, providing multi-year revenue visibility. The group's net working capital improved to 11% of revenue, marking the best performance in the last decade. Larsen & Toubro Ltd (LTOUF) has a robust prospects pipeline of INR 19 trillion for FY26, indicating strong future growth potential. The company achieved a 25% increase in consolidated PAT for Q4 FY25, reflecting improved activity levels and treasury operations. The IT and technology services segment reported subdued growth due to the global macroeconomic environment impacting IT spending. The energy segment's margin declined to 8.1% in Q4 FY25 from 11.4% in the previous year, partly due to the absence of favorable claim settlements. Domestic order inflows showed weaker growth compared to international orders, with domestic prospects remaining relatively flat. The Hyderabad Metro project continues to face challenges, with operational losses and a need for refinancing to improve financial performance. The company faces execution challenges in water projects due to right-of-way issues and state budget constraints, impacting net working capital levels. Warning! GuruFocus has detected 5 Warning Signs with OCLDF. Q: Why is the order inflow guidance set at 10% growth despite a 50% increase in the order prospect pipeline? A: The order prospect pipeline has increased from INR 12 trillion to INR 19 trillion, spread across major segments. However, due to geopolitical uncertainties, the company is cautious about customer decisions on bids. The large order base and strategic client discussions suggest starting with a 10% guidance, with potential revisions based on the first six months' performance. (Respondent: Unidentified_2) Q: Why is the domestic order growth weak, and are there signs of improvement for FY 526? A: Domestic orders are influenced by infrastructure investments, with smaller order sizes and less stringent pre-qualification standards compared to international markets. The company has been selective, focusing on opportunities with better financial objectives and capacity balance. The domestic prospects remain steady, with no significant increase expected. (Respondent: Unidentified_5) Q: What are the levers to improve the return on equity (ROE) by 2% to reach the 18% target? A: Improving capital productivity, working capital efficiency, and fixed capital productivity are key levers. The services business is expected to perform better, contributing to the consolidated ROE. The company aims to integrate these improvements into annual plans to achieve the target. (Respondent: Unidentified_5) Q: How is the company prepared to execute the large international order book, and what are the risk mitigations? A: The company has a strong presence in the Middle East, with a focus on renewables, power transmission, and hydrocarbon projects. Execution challenges are minimal due to familiarity with the region and established customer relationships. Risk mitigation includes managing geopolitical factors and maintaining a strong local presence. (Respondent: Unidentified_4) Q: What is the outlook for the Hyderabad Metro, and how is the refinancing progressing? A: Refinancing is expected in FY 526, with a focus on improving ridership and fare revisions. The company is working on last-mile connectivity and securing interest-free government loans to reduce debt costs. Monetization of real estate parcels will continue to support financial performance. (Respondent: Unidentified_5) For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus. Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
Bloomberg
08-05-2025
- Business
- Bloomberg
Investors Edgy on Geopolitical Tensions, But History Shows Stocks Weather Clashes
Before the trading day starts we bring you a digest of the key news and events that are likely to move markets. Today we look at: Good morning, this is Ashutosh Joshi, an equities reporter in Mumbai. Indian markets are poised for another volatile session amid President Donald Trump's planned announcement of a 'major' trade deal today. Ongoing tensions with Pakistan may continue to impact investor sentiment. Market participants will be closely monitoring the earnings reports of Larsen & Toubro and Asian Paints for insight into infrastructure spending and consumption trends.
