L&T executes guarantees in favour of subsidiaries

Larsen and Toubro Ltd has on March 28, 2023, executed parent company guarantees (PCG) in favour of Air Products Equipment Limited and Air Products Middle East Industrial Gases LLC for Neom Green Hydrogen Projects awarded to Larsen & Toubro International FZE and Larsen & Toubro Saudi Arabia LLC.

The financials of Larsen & Toubro International FZE and Larsen & Toubro Saudi Arabia LLC shall be consolidated and hence there will be no impact on the Company. The necessary disclosures shall be made in the financial statements of the Company.

Larsen & Toubro International FZE and Larsen & Toubro Saudi Arabia LLC are wholly owned subsidiaries of the Company.

The Guarantee for Neom Grid Package: USD 669.60 Million valid till 31st March, 2027 and Guarantee for Neom Power Elements Package: USD 2665.2 Million valid till 31st March, 2028.

Shares of Larsen & Toubro Limited was last trading in BSE at Rs. 2170.95 as compared to the previous close of Rs. 2164.75. The total number of shares traded during the day was 28819 in over 3415 trades.

The stock hit an intraday high of Rs. 2183.50 and intraday low of 2155.55. The net turnover during the day was Rs. 62564606.00.

Source : Equity Bulls

Keywords

LarsenandToubro INE018A01030 ParentCompanyGuarantee