Going ahead, the engineering company hopes to play an important part in future space programmes, says MV Kotwal, President of L&T Heavy Engineering, adding that India can expect major space programmes hereon.
With the successful landing of ISRO's Mars Orbiter Mission Mangalyaan , India has created history by becoming the first country to be successful in its maiden attempt in sending a spacecraft into Mars.
Larsen & Toubro 's Heavy Engineering Division (L&T Heavy Engineering) played a key role by manufacturing the rocket, the antenna and the radar tracking the Orbiter. The company claims that key achievement is its domestically manufactured raw materials, is 50 percent cheaper than other similar missions abroad. While on Mars, the satellite will search for methane in the Martian atmosphere.
The Rs 450-crore Mars Orbiter Mission, India's first spacecraft to Mars, was blasted off from the southeastern coast last year. Only the United States, Europe, and Russia have so far successfully sent probes that have orbited or landed on Mars.
Going ahead, the engineering company hopes to play an important part in future space programmes, says MV Kotwal, President of L&T Heavy Engineering, adding that India can expect major space programmes hereon.
With the success of the indigenous mission, Kotwal further hopes to bag global orders in aerospace segment too.
Larsen stock price
On September 24, 2014, at 14:05 hrs Larsen and Toubro was quoting at Rs 1460.95, down Rs 35.85, or 2.4 percent. The 52-week high of the share was Rs 1774.70 and the 52-week low was Rs 777.10.
The company's trailing 12-month (TTM) EPS was at Rs 62.86 per share as per the quarter ended June 2014. The stock's price-to-earnings (P/E) ratio was 23.24. The latest book value of the company is Rs 362.65 per share. At current value, the price-to-book value of the company is 4.03.
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