Signs of green shoots? Seven firms bag orders worth Rs 42,000 cr in Q1

Contract award activity was expected to be a total washout globally during the first quarter. However, order inflow for capital goods and construction firms received a shot in the arm thanks to state-owned entities and foreign markets like the US and West Asia.

Industry executives and analysts said most of this new order activity was a spillover, and fresh project finalisation remains weak. According to disclosures by more than 20 firms to the exchanges, at least seven companies bagged orders worth Rs 42,000 crore.

An average order value was assumed for Larsen & Toubro’s (L&T) new orders, as the firm shares only a range (value terms) for such order wins. These comprise order wins for infrastructure, capital goods, as well as engineering companies, but not all of them disclose their new order wins to the exchanges.