L&T Acquires Full Ownership of L&T Special Steel with ₹170 Crore Deal

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). This transaction makes LTSSHF a fully owned subsidiary of L&T. 

Purpose and Impact of the Acquisition

Previously, L&T owned 74% of LTSSHF. With full ownership, L&T aims to expand LTSSHF’s capabilities beyond the energy sector by making additional investments and improving operational efficiency. This move is expected to enhance the company’s market reach and utilization.

Financial and Regulatory Aspects

L&T purchased 1,47,31,60,000 equity shares and 1,66,92,00,000 preference shares, along with a secured loan from NPCIL, for a total of ₹170 crore.

Company Background and Financial Performance

LTSSHF, founded in 2009, makes heavy forgings using advanced equipment, including a 125-ton Electric Arc furnace and a powerful 9000-ton hydraulic press. It serves industries such as nuclear power, petrochemicals and heavy engineering. The company’s revenue has shown consistent growth with ₹503.99 crore in FY 2023-24, ₹361.47 crore in FY 2022-23, and ₹263.11 crore in FY 2021-22.

About L&T 

Larsen & Toubro is a leading Indian multinational company specializing in engineering, construction and technology. It operates across various sectors, including infrastructure, defence and heavy engineering. Known for its innovation and large-scale projects, L&T plays a crucial role in industrial development, both in India and globally.

L&T Share Performance 

As of February 19, 2025, at 10:55 AM, the shares of L&T are trading at ₹3,256.95 per share, reflecting a surge of 1.14% from the previous day’s closing price. Over the past month, the stock has registered a loss of 9.35%. The stock’s 52-week high stands at ₹3,963.50 per share and its low is ₹3,175.05 per share.

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