L&T acquires full ownership of LTSSHF
Author: PPD Team Date: February 20, 2025
Larsen & Toubro Limited (L&T) has acquired the remaining 26% stake in L&T Special Steels and Heavy Forgings Private Limited (LTSSHF) from Nuclear Power Corporation of India Limited (NPCIL), making it a wholly owned subsidiary.
With full ownership, L&T aims to expand LTSSHF’s offerings beyond the energy sector and improve overall utilization through additional investments.
The acquisition includes 1.47 billion equity shares, 1.67 billion preference shares, and a secured loan previously provided by NPCIL to LTSSHF.
In January, L&T reported a fiscal third-quarter profit of Rs 33.59 billion, marking a 13.96% increase from Rs 29.47 billion in the same quarter of FY24. Revenue from operations rose 17.31% to Rs 646.68 billion from Rs 551.28 billion, driven by a strong order book and increased execution in its Projects & Manufacturing (P&M) businesses.