Larsen & Toubro Allots 35,981 Equity Shares Under Employee Stock Option Schemes

Larsen & Toubro has allotted 35,981 equity shares to eligible grantees who exercised their options under the Company's Employee Stock Option Schemes. The allotment was approved by the Nomination & Remuneration Committee (NRC) of the Board on May 5, 2026, as communicated through a regulatory filing addressed to BSE Limited and the National Stock Exchange of India Limited.

ESOP Allotment Details

The key details of the allotment are outlined in the table below:

Parameter: Details Date of Allotment: May 5, 2026 Number of Shares Allotted: 35,981 (Thirty Five Thousand Nine Hundred Eighty One) Scheme: Employee Stock Option Schemes Approving Authority: Nomination & Remuneration Committee (NRC) of the Board NRC Meeting Commencement: 11.30 a.m. NRC Meeting Conclusion: 12.15 p.m.

Share Ranking and Parity

The newly allotted equity shares will rank pari-passu with the existing equity shares of Larsen & Toubro in all respects. This means the allotted shares carry the same rights and entitlements as the existing equity shares of the Company. The regulatory disclosure was signed by Subramanian Narayan, Company Secretary & Compliance Officer of Larsen & Toubro, and submitted to the stock exchanges in compliance with applicable listing obligations.

Larsen & Toubro 's Energy Hydrocarbon Onshore business has secured a large order from Bharat Coal Gasification and Chemicals Ltd (BCGCL), a joint venture of Coal India Ltd (CIL) and Bharat Heavy Electricals Ltd (BHEL), for a Coal-to-Ammonia-Nitrate project located in Odisha. The order was announced on May 05, 2026, and falls under the company's 'Large' order classification, representing a contract value in the range of ₹2,500 to ₹5,000 crore.

Project Scope and Key Details

The order covers the development of a Nitric Acid and Ammonium Nitrate Plant, to be executed on a Lump Sum Turnkey (LSTK Package-4) basis with single-point responsibility. Once operational, the facility is planned to produce 2,000 tonnes per day of ammonium nitrate, catering to the growing requirements of India's mining, infrastructure, and industrial sectors.

The following table summarises the key parameters of the order:

Parameter: Details Client: Bharat Coal Gasification and Chemicals Ltd (BCGCL) Project Type: Coal-to-Ammonia-Nitrate Location: Odisha Execution Mode: Lump Sum Turnkey (LSTK Package-4) Planned Production Capacity: 2,000 tonnes per day Order Classification: Large (₹2,500 to ₹5,000 crore)

The comprehensive scope of work includes:

Process licensing and basic design

Detailed engineering and procurement

Construction, including mechanical completion

Pre-commissioning, commissioning, and sustained load runs

Performance guarantee test runs

Overall project management and final plant handover

Strategic Significance and National Context

This order aligns with India's Aatmanirbhar Bharat initiative, under which the country has set an ambitious target of achieving 100 million tonnes of coal gasification capacity by 2030. The mission focuses on converting high-ash domestic coal into value-added products such as ammonium nitrate, methanol, ammonia, Synthetic Natural Gas, and fertilisers, with the objective of reducing import dependence and strengthening India's industrial self-reliance.

Leadership Commentary

Mr Subramanian Sarma, Deputy Managing Director & President - L&T, commented: "This large order strengthens L&T's presence in the gasification and downstream chemicals EPC space. Indigenous gasification infrastructure will play a pivotal role in India's energy transition, and this order reinforces our ability to deliver complex, technology-intensive projects at scale."

Mr E S Sathyanarayanan, Senior Vice President & Head of L&T Onshore and Member of L&T's Executive Committee, added: "Winning the LSTK Package-4 order reflects BCGCL's trust in our execution capabilities. Our robust engineering and unwavering focus on EHS and quality will ensure reliable and efficient delivery of the Nitric Acid and Ammonium Nitrate facilities."

About L&T Energy Hydrocarbon Onshore

L&T Energy Hydrocarbon Onshore is one of India's largest EPC businesses, delivering comprehensive Lump Sum Turnkey solutions across upstream, midstream, and downstream hydrocarbon sectors. The business has an established execution track record across geographies, having delivered refinery expansions, petrochemical complexes, gas processing plants, fertiliser plants, LNG terminals, and cross-country pipelines. Larsen & Toubro is a USD 30 billion Indian multinational enterprise engaged in EPC Projects, Hi-Tech Manufacturing, and Services, operating across multiple geographies for over eight decades.

L&T Order Classification Reference

Classification: Value in ₹ Cr Significant: 1,000 to 2,500 Large: 2,500 to 5,000 Major: 5,000 to 10,000 Mega: 10,000 to 15,000 Ultra-Mega: > 15,000

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