L&T Hydrocarbon bags 2 orders from Hindustan Urvarak & Rasayan Limited (HURL). The total order size is Rs 3800 crore.

"The total order value is much bigger and Rs 3800 crore stated in the press release was their share," said Subramanian Sarma, CEO & MD, L&T Hydrocarbon.

He said that the projects are expected to be completed in 36-40 months because the fertilizer projects are usually of longer schedule.

As per the industry norm, the EBITDA margins are usually in higher single digits, he said, adding that the orderbook was stable.

He also added that the rise in crude prices was heartening after a slump period but it was a factor of many things and so one was not sure how long these price range would last. However, as of now the sentiment is positive.