The company recorded the highest order book of Rs 4 lakh crore and order inflows for FY23 were over 2 lakh crore (19 per cent YoY growth).
The sudden rise in the stock price was due to the company announcing that Larsen & Toubro and DRDO signed a contract for the realisation of two Air Independent Propulsion (AIP) System Modules for Kalvari Class of Submarines of the Indian Navy.
These core modules form the indigenous AIP System, developed by NMRL and L&T, enabling fuel cell-based Energy Modules (EMs) to generate power and onboard hydrogen, eliminating the need for carrying it and enhancing submarine safety. India joins the elite club of nations with indigenously developed, green fuel cell-based AIP technology, boosting conventional submarine endurance with non-polluted water by-products.
