Larsen & Toubro (L&T) has successfully acquired the remaining 26% stake in its subsidiary, L&T Special Steels and Heavy Forgings Private Limited (LTSSHF), from the Nuclear Power Corporation of India Limited (NPCIL). With this acquisition, LTSSHF is now a wholly owned subsidiary of L&T.
LTSSHF, established in 2009, is a leader in manufacturing heavy forgings and special steel products. The company operates a state-of-the-art, fully integrated facility in India, featuring one of the largest Electric Arc Melting Furnaces (125 tons) and a Hydraulic Press with a 9,000-ton capacity. This facility is unique in Southeast Asia, serving industries such as nuclear, strategic, refinery, petrochemical, power, and heavy engineering.
The acquisition is a part of L&T’s strategy to enhance its operations and offer broader market solutions beyond energy. Under full ownership, LTSSHF is expected to ramp up investments and expand its market offerings.
The acquisition, valued at Rs. 170 crore, is a related party transaction, as NPCIL was previously a joint venture partner of L&T. However, the transaction has been conducted at arm’s length.
For the past three years, LTSSHF has shown strong growth in its revenue, with operational turnover increasing from INR 263 crore in FY 2021-22 to INR 503.99 crore in FY 2023-24.
