Larsen and Toubro (L&T) Ltd. announced on Wednesday, May 6, that its minerals and metals business has secured a ‘mega’ order from JSW Steel. L&T defines a ‘mega’ order as one ranging from ₹10,000 crore to ₹15,000 crore, making this the largest order it has ever received in the domestic metals sector. JSW Steel aims to increase its crude steel processing capacity from 35 MTPA to over 50 MTPA by 2031.

To support this expansion, L&T’s minerals and metals vertical will install essential process facilities, including blast furnaces and steel melt shops, at various brownfield and greenfield sites, primarily in Ballari, Karnataka, and Paradip, Odisha. DK Sen, advisor to CMD, development projects and minerals and metals at L&T, stated, ‘Securing the largest-ever order in the metals segment marks a defining moment for L&T’s minerals and metals business. Our long-standing partnership with JSW Steel reflects a shared commitment to scale, innovation and nation building.’

L&T also reported its fourth quarter earnings on Tuesday, projecting a revenue growth of 10-12% for FY27, maintaining margins similar to FY26 at 8.3%, and anticipating a 10-12% increase in order inflow. However, the company expects disruptions in the first and second quarters of this fiscal due to delayed shipments. Following the earnings report, brokerage firm Nomura downgraded its rating on the stock, while HSBC reduced its price target.

L&T shares were trading 3.3% lower at ₹3,919.2 apiece at 10.05 am on Wednesday, having gained 5% in the past month but declined 5.3% this year so far.