Description

Larsen & Toubro clarifies that the Kuwait oil project tenders reportedly under discussion for cancellation worth $8.7 billion were not part of the company's order book.

Summary

Larsen & Toubro Limited issued a clarification in response to a news article published on Moneycontrol.com dated January 13, 2026, which reported that Kuwait was discussing the cancellation of oil project tenders worth $8.7 billion, causing L&T shares to fall 3%. The company clarified that the projects referred to in the media report were not part of L&T’s existing order book. The company also stated it cannot comment on the status of tenders or commercial decisions of its clients.

Key Points

  • Media report suggested Kuwait was discussing cancellation of oil project tenders worth $8.7 billion
  • L&T shares fell 3% following the news report
  • Company clarified the referenced projects were NOT part of L&T’s order book
  • L&T stated it cannot comment on client tender status or commercial decisions
  • Clarification issued to both BSE (Stock Code: 500510) and NSE (Stock Code: LT)

Regulatory Changes

No regulatory changes announced in this circular.

Compliance Requirements

This is a company clarification in response to stock exchange queries regarding media reports, as required under listing obligations and disclosure requirements.

Important Dates

  • January 13, 2026: Date of media article publication
  • January 13, 2026: Date of stock exchange query
  • January 13, 2026: Date of company clarification

Impact Assessment

Market Impact: Low to Medium - The clarification addresses market speculation that caused a 3% decline in L&T shares. By confirming the projects were not in the order book, the company mitigates concerns about potential order book cancellations.

Operational Impact: None - Since the projects were not part of L&T’s order book, there is no direct operational or financial impact on the company.

Investor Sentiment: The clarification is positive for investor sentiment as it removes uncertainty about potential order cancellations and revenue impact.

Impact Justification

Company clarification on media speculation regarding Kuwait projects. No material impact as projects were not in order book. Important for investor sentiment but no operational impact.