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Larsen&Toubro
FromWikipedia,thefreeencyclopedia

Larsen&Toubro
Limited,alsoknownas
L&T,isanIndian
multinational
conglomerate
headquarteredin
Mumbai,Maharashtra,
India.[3]Itwasfounded
byDanishengineers
takingrefugeinIndia,as
wellasanIndian
financingpartner.[4]The
companyhasbusiness
interestsinengineering,
construction,
manufacturinggoods,
informationtechnology
andfinancialservices,
andalsohasanofficein
theMiddleEastand
otherpartsofAsia.[5]
L&TisIndia'slargest
engineeringand
construction
company.[6][7]
Consideredtobethe
"bellwetherofIndia's
engineering&
constructionsector",[7]
L&Twasrecognizedas
theCompanyoftheYear
inEconomicTimes2010
awards.[8]

Larsen&Toubro
Tradedas

NSE:LT
(http://www.nseindia.com/marketinfo/companyinfo/companysearch.jsp?
cons=LT&section=7)
BSE:500510(http://www.bseindia.com/stockshareprice/x/y/500510/)
BSESENSEXConstituent

Industry

Conglomerate

Founded

BombayPresidency,BritishIndia(1938)

Founders

SrenKristianToubro
HenningHolckLarsen

Headquarters L&THouse,BallardEstate,
Mumbai,Maharashtra,India
Areaserved

India,MiddleEast,EastAsiaandSoutheastAsia

Keypeople

K.Venkataramanan(CEO&MD)
A.M.Naik(ExecutiveChairman)

Products

Construction
Heavyequipment
Electricalequipment
Power
Shipbuilding
Financialservices
ITServices

Revenue

US$14.3Billion(2014)[1]

Operating
income

US$1.39774Billion(2013)[1]

Profit

US$952.638Million(2013)[1]

Totalassets

US$26.188Billion(2013)[1]

Totalequity

US$6.6818Billion(2013)[1]

Employees

84,027(Mar2014)[2]

Divisions

Technology,engineering,construction,manufacturing

Subsidiaries

L&TInfotech,L&TMutualFund,L&TInfrastructureFinance
Company,L&TFinanceHoldings,L&TTechnologyServices,L&T
MHPS

Website

www.larsentoubro.com(http://www.larsentoubro.com/)

Contents
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1History
1.1PostIndependence
2OperatingDivisions
2.1L&TSolar
2.2Electrical&Automation
2.3Informationtechnology
2.4L&TMachinery&IndustrialProducts
2.5EWACAlloysLimited
3MajorSubsidiariesandJointVentures
4Corporaterestructuring
5Listingandshareholding
6Employees
7AwardsandRecognition
8Seealso
9References
10Externallinks

History
AcompanywasfoundedinBombay(Mumbai)in1938bytwoDanishengineers,HenningHolckLarsen
andSorenKristianToubro.ThecompanybeganasarepresentativeofDanishmanufacturersofdairy
equipment.However,withthestartoftheSecondWorldWarin1939andtheresultingrestrictionon
imports,thepartnersstartedasmallworkshoptoundertakejobsandprovideservicefacilities.[9]
Germany'sinvasionofDenmarkin1940stoppedsuppliesofDanishproducts.[9]Thewartimeneedto
repairandrefitshipsofferedL&Tanopportunity,andledtotheformationofanewcompany,HildaLtd.,
tohandletheseoperations.[9]L&Talsostartedtorepairandfabricationshopssignallingtheexpansionof
thecompany.[9]
ThesuddeninternmentofGermanengineersinBritishIndia(duetosuspicionscausedbytheWar),who
weretoputupasodaashplantfortheTatas,gaveL&Tachancetoenterthefieldofinstallation.[9]
In1944,ECCwasincorporatedbythepartnersthecompanyatthistimewasfocusedonconstruction
projects(Presently,ECCistheconstructiondivisionofL&T).L&Tdecidedtobuildaportfolioofforeign
collaborations.By1945,thecompanyrepresentedBritishmanufacturersofequipmentusedtomanufacture
productssuchashydrogenatedoils,biscuits,soapsandglass.[9]
In1945,thecompanysignedanagreementwithCaterpillarTractorCompany,USA,formarketingearth
movingequipment.Attheendofthewar,largenumbersofwarsurplusCaterpillarequipmentwere
availableatattractiveprices,butthefinancesrequiredwerebeyondthecapacityofthepartners.This
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promptedthemtoraiseadditionalequitycapital,andon7February1946,Larsen&ToubroPrivateLimited
wasincorporated.[9]

PostIndependence
OfficesweresetupinKolkata(Calcutta),Chennai(Madras)andNewDelhi.In1948,fiftyfiveacresof
undevelopedmarshandjunglewasacquiredinPowai,Mumbai.Thatuninhabitableswampsubsequently
becamethesiteofitsmainmanufacturinghub.[9]
InDecember1950,L&TbecameapubliccompanywithapaidupcapitalofRs.20lakhs(2millionrupees)
(2,000,000).ThesalesturnoverinthatyearwasRs.1.09crore(10.9millionrupees).[9]In1956,amajor
partofthecompany'sMumbaiofficemovedtoICIHouseinBallardEstate,Mumbaiwhichwouldlaterbe
purchasedbythecompanyandrenamedasL&THouse,itspresentcorporateoffice.[9]
Thesixtieswitnessedtheformationofmanynewventures:UTMAL(setupin1960),AudcoIndiaLimited
(1961),EutecticWeldingAlloys(1962)andTENGL(1963).[9]

OperatingDivisions
L&ThasdeliveredEngineering,ProcurementandConstruction(EPC)servicesformanyprojectsinthe
upstreamhydrocarbonsectoroverthelasttwodecades,inIndia,MiddleEast,Africa,SouthEastAsiaand
Australia.[10]
L&ThasformedajointventurewithSapuraCrestPetroleumBerhad,Malaysiaforprovidingservicesto
offshoreconstructionindustryworldwide.[11]ThejointventurewillownandoperatetheLTS3000,a
HeavyLiftcumPipelayVessel.
L&TPowerhassetupanorganizationfocusedoncoalbased,gasbasedandnuclearpowerprojects.[12]
L&ThasformedtwojointventureswithMitsubishiHeavyIndustries,Japantomanufacturesupercritical
boilersandsteamturbinegenerators.[13]
L&Tisamongthetopfivefabricationcompaniesintheworld.[14]L&Thasashipyardcapableof
constructingvesselsofupto150meterslonganddisplacementof20,000tons[15]atitsheavyengineering
complexatHazira.Theshipyardisgeareduptotakeupconstructionofnichevesselssuchasspecialized
HeavyliftCargoVessels,CNGcarriers,Chemicaltankers,defense&paramilitaryvessels,submarinesand
otherrolespecificvessels.
ThedesignwingofL&TECCiscalledEDRC(EngineeringDesignandResearchCentre).EDRCprovides
consultancy,designandtotalengineeringsolutionstocustomers.Itcarriesoutbasicanddetaileddesignfor
bothresidentialandcommercialprojects.

L&TSolar

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L&TConstructionasubsidiaryoftheLarsen&Toubroconglomeratealsoundertakessolarprojects.In
April12,L&TcommissionedIndia'slargestsolarphotovoltaicbasedpowerplant(40MWp)ownedby
ReliancePoweratJaisalmer,Rajasthanfromconcepttocommissioningin129days.[16]In2011,L&T
enteredintoapartnershipwithSharpforEPC(engineering,procurementandconstruction)inmegawatt
solarprojectandplantoconstructabout100MWinthenext12monthsinmostofthemetros.[17]L&T
InfraFinance,promotedbytheparentL&TLtd,isalsoactiveinthefundingofsolarprojectsin
India.[18][19]

Electrical&Automation
L&Tisaninternationalmanufacturerofawiderangeofelectricalandelectronicproductsandsystems.
L&Talsomanufacturescustomengineeredswitchboardsforindustrialsectorslikepower,refineries,
petrochemicalsandcement.[20]Intheelectronicsegment,L&Toffersarangeofmetersandprovides
controlandautomationsystemsforindustries.MedicalEquipment.[21]

Informationtechnology
L&TInfotechfocusesoninformationtechnologyandsoftwareservices.Larsen&ToubroInfotechLimited,
a100percentsubsidiaryoftheL&T,offerssoftwareandserviceswithafocusonManufacturing,BFSI
andCommunicationsandEmbeddedSystems.Italsoprovidesservicesintheembeddedintelligenceand
engineeringspace.

L&TMachinery&IndustrialProducts
L&Tmanufactures,marketsandprovidesservicesupportforconstructionandminingmachinery,surface
miners,hydraulicexcavators,aggregatecrushers,loaderbackhoesandvibratorycompactorssuppliesa
widerangeofrubberprocessingsuryaandmanufacturesandmarketsindustrialvalvesandalliedproducts
andarangeofapplicationengineeredweldingalloys.

EWACAlloysLimited
EWACAlloysLimitedisawhollyownedsubsidiaryofLarsen&Toubro,India.TheCompanyisengaged
indesign&development,manufactureandsupplyofspecialweldingelectrodes,gasbrazingrodsand
fluxes,weldingtorchesandaccessories,atomisedmetalpowderalloys,fluxcoredcontinuouswires&wire
feeders,polymercompounds&wearresistantplates.
Prof.Wasserman,FounderofEutecticCastolin,andMr.HenningHockLarsen,FounderofLarsen&
Toubro,laidthefoundationofEutecticDivisioninIndiaintheyear1962.RecentlyEutecticCastolin
mergedintoMesserGroupofCompanies,GermanyandreferredasMesserEutecticCastolin(MEC).

MajorSubsidiariesandJointVentures
L&Thasover130subsidiariesand15associatecompanies.[22]

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L&TKobelcoMachineryPrivateLimited
ThisisajointventureofL&TandKobeSteelofJapan,tomanufactureinternalmixersandtwinscrew
rollerheadextrudersforthetyreindustry.TheCompanyhassetupafactoryatKaraiVillage,Kanchipuram
tomanufactureInternalMixersandTwinScrewRollerheadExtrudersforthetyreindustryandcommenced
itscommercialoperationsinDecember1,2012.
L&TKomatsuLimited
HavingitsregisteredofficeatMumbai,Indiaandfocusingonconstructionequipmentandmining
equipment,L&TKomatsuLimited[23]isajointventureofLarsenandToubro,andKomatsuAsiaPacific
PteLimited,Singapore,awhollyownedsubsidiaryofKomatsuLimited,Japan.Komatsuistheworlds
secondlargestmanufacturerofhydraulicexcavatorsandhasmanufacturingandmarketingfacilities.[24]
Theplantwasstartedintheyear1975byL&TtomanufactureHydraulicExcavatorsforthefirsttimein
India.In1998,itbecameajointventure.L&TKomatsuLimitedsmanufacturingfacilityTheBangalore
WorkscomprisesMachineryWorksandHydraulicsWorks.MachineryWorkshasamanufacturing
facilityfordesign,manufactureandservicingofearthmovingequipment.HydraulicsWorks,witha
precisionmachineshop,manufacturesthecompleterangeofhighpressurehydrauliccomponentsand
systems,anddesign,development,manufacturingandservicingofhydraulicpumps,motors,cylinders,
turningjoints,hoseassemblies,valveblocks,hydraulicsystemsandpowerdrivesaswellasalliedgear
boxes.InApril2013,L&Tboughtthe50%stakeheldbyKomatsuAsia&Pacific.Thecompany'sname
waschangedtoL&TConstructionEquipmentLimited.[25][26]
L&TFinance
Larsen&ToubrofinancialservicesFinancialServicesisasubsidiarywhichwasincorporatedasaNon
BankingFinancecompanyinNovember1994.[27]
Thesubsidiaryhasfinancialproductsandservicesforcorporate,constructionequipmentsetc.Thisisanew
divisionafterthecompanydeclareditsrestructuring[28]
ApartnershipbetweenL&TFinanceandSonalikaGroupfarmequipmentmakerInternationalTractorsLtd,
wasannouncedinApril2014.Thepartnershipwouldprovidecreditandfinancingbenefitstocustomersof
SonalikaGroupthroughoutIndia.[29]
L&TMutualFundisthemutualfundcompanyoftheL&Tgroup.Thiscompanyprovidesmutualfund
schemesforinvestorsinIndia.TheaverageAssetsUnderManagement(AUM)ofL&TMutualFundfor
thequarterJul13toSep13wasINR15.8billion.[30]
Larsen&ToubroInfrastructureFinance
LarsenandToubroInfrastructureFinanceCompanyLimitedwassetupasa100%subsidiaryofL&T.It
commenceditsbusinessinJanuary2007uponobtainingNonBankingFinancialCompany(NBFC)license
fromtheReserveBankofIndia(RBI).
Asof31March2008,L&TInfrastructureFinancehasapprovedfinancingofmorethanabillionUSDto
selectprojectsintheinfrastructuresector.
L&TInfrastructureFinancehasreceivedthestatusof"InfrastructureFinanceCompany"fromtheReserve
BankofIndiawithintheoverallclassificationof"NonBankingFinancialCompany".
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L&T(TS)
L&TTechnologyServices(previouslyknownasIntegratedEngineeringServicesorL&TIES),abusiness
unitofL&T,offersacombinationofmechanical,electricalandelectronicdesign(mechatronics/embedded
systems),civilandarchitecturalservices.L&TTShasitsdesignanddeliverylocationsinVadodara,
Chennai,Bangalore,MysoreandMumbaiinIndia.
L&TTSservicesalsoencompassarchitectural,civil,structuraldesignandbuildingutilitysystemsdesign.
Practicesincludebothproductandplantengineeringservicesintheautomotive,trucksandoffhighway
vehicles,industrial.
MysorebasedcampusofElectronicdesignunitofTSworkspredominantlyforEmbeddedsystemswitha
varietyofrangeofoperationsfromAvionics,Automotive,Industrialautomationandmetering,Medicaland
more.
L&TValves
L&TsValvesBusinessGroupmarketsvalvesmanufacturedbyL&T'sValveManufacturingUnitand
L&T'sjointventures,AudcoIndiaLimited,IndiaandLarsen&ToubroValvesManufacturingUnit,
Coimbatoreaswellasalliedproductsfrommajorinternationalmanufacturers.
Thecompany'svalvemanufacturingUnitinCoimbatoremanufacturesindustrialvalvesspecificallyforthe
PowerIndustry.Italsosellsvalueaddedflowcontrolsolutionstooilandgas,refining,petrochemical,
chemicalandpowerindustries,industrialvalvesandcustomizedproductsformajorRefinery,LNG,GTL,
PetrochemicalandPowerprojects.
L&TValvesBusinessGrouphasofficesintheUSA,SouthAfrica,Dubai,AbuDhabi,IndiaandChina,and
allianceswithvalvedistributorsandagentsinthesecountries.
L&TMHPSBoiler
LMBisthejointventurebetweenL&TandMitsubishiHitachiPowerSystems.Thegroupspecializesin
Engineering,Manufacturing,Erecting&CommissioningofSuperCriticalBoilersusedinMegaandUltra
Megapowerplants.ItismainlyheadquarteredinFaridabadwithManufacturingfacilityinHaziraandan
EngineeringCentreinChennai&Faridabad.CurrentlythegroupisengagedinprojectsforJVPL,
MAHAGENCO,NABHAPower&RRVUNL.
L&TGeneralInsurance

Corporaterestructuring
InJanuary2011,itsChairmanA.M.Naikannouncedthatthecompanywillberestructuredintoninevirtual
companies.[31]Eachwillbecalledanindependentcompany,andwillhaveaCEO,CFOandHRhead,its
ownprofitandlossaccount,andaboardofdirectorswithatleastthreeindependentdirectors.Eachboard
willnothaveanylegalorstatutorystanding,[32]butwillmerelyadvisemanagement.
Theninevirtualcompanieswilloperateindifferentsegments,[33]Theninesectorsforwhichcompaniesare
formedare:[34]
1. BuildingandFactories
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2. Transportation&Infrastructure
3. Metallurgical&MaterialHandling
4. PowerTransmissionandDistribution
5. HydrocarbonandChemicals
6. GeoStructure
7. Power
8. Infotech
9. Finance
RecentlyHydrocarbonandchemicalshasbecomearealcompanywithitsindependentstandingsand
stocks.

Listingandshareholding
TheequitysharesofthecompanyarelistedontheBombayStockExchange(BSE)andtheNationalStock
ExchangeofIndia(NSE).ThecompanyssharesconstituteapartofBSE30IndexoftheBSELimitedas
wellasNIFTYIndexoftheNSE.[2]
ItsGlobaldepositoryreceipts(GDR)arelistedontheLuxembourgStockExchangeandLondonStock
Exchange.[2]
Shareholding:Ason31March2013,FinancialInstitutionsheldaround30.5%equitysharesinL&T.Over
850,000individualshareholdersholdapprox.24%ofitsshares.[2][35]ForeignInstitutionalInvestorsheld
approx.16.6%shares.Othersheldapprox.29%oftheshares.LifeInsuranceCorporationofIndiaisthe
largestshareholderinthecompanywith16.45%shareholding.
Shareholders(ason31March2013) Shareholding[2][35]
FinancialInstitutions

30.54%

GeneralPublic

24.05%

ForeignInstitutionalInvestors(FII)

16.58%

L&TEmployeesWelfareFoundation 12.09%
BodiesCorporate

07.17%

MutualFunds

05.56%

GDRs

03.58%

Directors&Relatives

00.43%

Total

100.0%

Employees

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Ason31March2013,thecompany(excludingitssubsidiaries)had54062permanentemployees,outof
which2,635werewomen(4.87%)and74wereemployeeswithdisabilities(0.14%).DuringtheFY2012
13,thecompanyincurredINR44.36billionforemployeebenefit,includingsalaries.[2]
TheHarvardBusinessReviewinitsJanuaryFebruary2013editionnamedL&T'sExecutiveChairman,
A.M.Naik,asthe32ndBestPerformingCEOintheworld.[36][37]

AwardsandRecognition
In1997,theBangaloreWorksdivisionwasawardedthe"Bestofall"RajivGandhiNationalQuality
Award[38]
In2014Larsen&Toubroranked500onForbeslistof2000worldslargestandmostpowerfulpublic
companiesbasedonrevenues,profits,assetsandmarketvalue.54Indiancompaniesmadeittothe
prestigiouslist,andL&Tisthehighestrankedcompanyintheengineeringandconstructionsection
and10thamongallIndianpublicandprivatesectors.[39]
AccordingtotheBrandTrustReport2012publishedbyTrustResearchAdvisory,abrandanalytics
company,L&Twaspositioned47thamongIndia'smosttrustedbrands.[40]Subsequently,inBrand
TrustReport2013,L&Twasranked127thamongthemosttrustedbrandsinIndiawhileaccordingto
theBrandTrustReport2014,L&Twaselevatedtothe38thpositionamongIndia'smosttrusted
brands.[41][42]
In2013,L&TPowerreceived'GoldenPeacockNationalQualityAward2012'atthe23rdWorld
Congresson'Leadership&QualityofGovernance'.[43][44]
In2012,ForbesrankedL&Tas9thmostinnovativecompanyintheworld.[5][45]L&Twasalso
featuredintheForbesAsia'sannual'Fabulous50'listin2010,forthefifthtimeinarow.[46]
In2012,L&Twasranked4thbyNewsweekinthegloballistofgreencompaniesintheindustrial
sector.[47]

Seealso
Larsen&ToubroInfotech
L&TMutualFund
ListofcompaniesofIndia
Heavyequipment
branchesofL&T

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