Rs 6,12,761 crore order book: L&T-backed green energy company partners with Japan’s ITOCHU for green ammonia project
L&T Energy GreenTech Ltd (LTEG), a wholly-owned subsidiary of Larsen & Toubro (L&T), has signed a Joint Development Agreement with ITOCHU Corporation of Japan to establish and commercialise a 300 KTPA green ammonia project in Kandla, Gujarat. This collaboration will see LTEG and ITOCHU jointly develop the green ammonia facility, with ITOCHU committed to off-taking the produced green ammonia for bunkering applications in Singapore. This partnership marks a significant advancement in clean energy solutions for the maritime sector, underscoring the dedication of both companies to sustainability and decarbonization. This initiative aligns with LTEG’s strategy to expand its presence across the green energy value chain. It complements ITOCHU’s efforts to promote low-carbon ammonia as a zero-emission marine fuel.
India’s abundant renewable resources and competitive electricity costs position it to become a global leader in green hydrogen and its derivatives. The nation’s National Green Hydrogen Mission aims for a production capacity of at least 5 MMTPA by 2030, expecting to attract over USD 100 billion in investments, which will spur industrial innovation, create green jobs, and enhance India’s energy security. As a subsidiary of the USD 30 billion Larsen & Toubro conglomerate, LTEG is dedicated to providing sustainable energy solutions across the green hydrogen value chain. Its focus on Development, Manufacturing, and EPC, supported by advanced technology, strategic partnerships, and dedicated R&D, enables it to offer integrated solutions in this critical sector.
About the Company
Larsen & Toubro (L&T) is a massive Indian conglomerate with its fingers in many pies. Their core business is engineering, procurement and construction (EPC) solutions across various sectors like infrastructure, power, hydrocarbon (oil & gas) and defence. They also manufacture custom-designed machinery for these industries and even have a real estate arm. L&T is a major player in IT services through subsidiaries like L&T Infotech and Mindtree and provides financial services like rural and housing finance through L&T Finance Holdings. They even handle development projects involving infrastructure, toll management and power generation.
Larsen & Toubro (L&T) kicked off FY26 with a strong Q1 financial performance. The company’s consolidated revenues rose 16 per cent year-on-year to Rs 63,679 crore, driven by robust project execution. Profit After Tax (PAT) saw a significant 30 per cent increase, reaching Rs 3,617 crore. This performance underscores L&T’s effective operational strategies and its strong position in both domestic and international markets across its diverse segments.
The company has a market cap of over Rs 5 lakh crore and has been maintaining a healthy dividend payout of 33 per cent. Life Insurance Corporation of India (LIC) owns a 13.60 per cent stake in the company as of June 2025. The company has a robust order book valued at Rs 6,12,761 crore as of June 30, 2025. The stock is up by 25 per cent from its 52-week low and has given multibagger returns of 280 per cent in the last 5 years.
This article has been republished from Dalal Street Journal