Larsen & Toubro (BOM:500510)

QUOTE AND NEWS
The Economic Times  Sep 16  Comment 
The issue, which was priced at Rs 850-860, got bids for 1.80 crore shares against 72.8 lakh shares on offer excluding the shares allotted to anchor investors.
Reuters  Sep 15  Comment 
An initial public offering (IPO) of shares in L&T Technology Services Ltd to raise as much as 8.94 billion rupees ($134 million) was subscribed 2.52 times as the sale closed on Thursday, stock exchange data showed.
The Hindu Business Line  Sep 15  Comment 
The Economic Times  Sep 13  Comment 
ET Intelligence Group compiles a list of five companies where investors can look to invest. These include L&T, BPCL, SBI, LIC Housing Finance and Adani Port.
The Hindu Business Line  Sep 12  Comment 
Over 10% higher issue price than the comparable sector peer’s PE, is a dampener
The Hindu Business Line  Sep 12  Comment 
L&T Infotech (LT) today said it has appointed Sudhir Chaturvedi as its President Sales. In this role, he will lead the sales, business development and marketing teams globally, LTI said in a st...
The Hindu Business Line  Sep 12  Comment 
L&T Technology Services Ltd (LTTS) has finalised the allocation of 31.20 lakh shares to anchor investors at Rs 860 per equity share at the upper end of the price band, totalling Rs 268.32 crore. ...
The Economic Times  Sep 12  Comment 
Given a high asking valuation and subdued market sentiment for technology stocks, long-term investors may wait for the secondary market buy instead of the IPO.
The Economic Times  Sep 12  Comment 
The Indian market has several reasons to rally, but high valuations can be a cause of concern, Venugopal Manghat tells ET Wealth.
The Economic Times  Sep 11  Comment 
The brokerage said while LTTS deserves better valuations than its peers, the near-perfect IPO pricing leaves limited room for listing gains.
The Hindu Business Line  Sep 11  Comment 
To tap the upbeat investor sentiment, three firms — ICICI Prudential Life Insurance Company, L&T Technology Services and GNA Axles — will hit the markets this month to raise over Rs 7,000 crore t...




 
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Business Profile

Larsen & Toubro Limited (L&T) is a technology, engineering, construction and manufacturing company. It is one of the largest and most respected companies in India's private sector.

Seven decades of a strong, customer-focused approach and the continuous quest for world-class quality have enabled it to attain and sustain leadership in all its major lines of business.

L&T has an international presence, with a global spread of offices. A thrust on international business has seen overseas earnings grow significantly. It continues to grow its overseas manufacturing footprint, with facilities in China and the Gulf region.

Larsen & Toubro is one of the largest technology, engineering, construction and manufacturing companies in India. Founded in 1938, it went public in December 1950. The company has formed a group consisting of 140 subsidiary companies, 22 associate companies and 14 joint ventures in the sectors of information technology, financial products and services, engineering and project management, infrastructure development projects and services, manufacturing of industrial equipment, machinery and products. Associate companies include L&T-Chiyoda, L&T-Ramboll Consulting Engineers, Feedback Ventures, Voith Paper Technology (India), Salzer Cables, Audco India, L&T-Komatsu, L&T-Case Equipment, and Ewac Alloys.

The ISO 9001:2000 and OHSAS 18001 certified company operates through various divisions. Engineering & Construction Projects (E&C) offers vertically integrated services with additional interests in information technology and electrical business in the oil and gas, petrochemical refineries, fertilizer and power. The division focuses on the GCC countries for procuring EPC/turnkey and electro-mechanical construction contracts.

Heavy Engineering (HED) manufactures and supplies modular precision, custom-engineered, critical equipment and systems including integration and testing of weapon systems, sensors and engineering systems to core sector industries worldwide from its facilities at Mumbai and Talegaon in Maharashtra, Hazira and Vadodara in Gujarat, Visakhapatnam in Andhra Pradesh, Talegoan and Sohar in Oman. A strategic electronics center for electronic systems design and engineering operates from Bangalore and a warship and submarine design center has also been set up.

Engineering Construction & Contracts (ECC) offers turnkey construction services from concept to commissioning. Engineering, procurement and construction solutions are offered for specific projects. Functional restructuring into four separate units has been effected since July 1, 2008. It has executed projects in countries like Oman, Qatar, Saudi Arabia, Kuwait, UAE, and Malaysia in areas such as oil and gas, hydrocarbon, power and fertilizers.

Electrical & Electronics (EBG) manufactures and markets switchgear, MCCB, ACBs, switch boards, energy meters, petrol dispensing pumps and electronic control and automation systems, medical equipment and tooling solutions and new product such as advanced vital sign transport monitors for domestic and export markets. The division operates from Mumbai, Navi Mumbai, Ahmednagar, Coimbatore and Mysore in India, Wuxi in China and Dammam in Saudi Arabia. In FY08, the company acquired TAMCO Corporate Holdings Malaysia and its three international subsidiary companies to enhance its MV switchgear products portfolio even as the brand is already established in 30 countries including the Middle East.

Machinery & Industrial Products (MIPD) is organized into the business sectors of machinery and industrial products and offers equipment for construction and mining, material handling, crushing, hydraulics, paper, welding, castings, processing rubber and plastics. It provides valves, windmill components, cutting tools, engineered tools, and fuel dispensers. During the year, the Kanshahal works expanded the foundry to double capacity from 6,000 TPA to 12,000 TPA at a cost of Rs 150 million. It participated in Frost & Sullivan Manufacturing Excellence Award 2007 and qualified for Gold category.

Information Technology & Engineering Services Technology Services comprises of two business units - e-Engineering Solutions (e-ES) providing solutions to high-end technology verticals such as automotive, aerospace, marine and ship design, plant engineering and industrial products; and Embedded Systems (EmSyS) providing embedded systems for electronics product design and development. Today, the business units have a dedicated team of over 2,400 professionals operating from Vadodara, Mysore, Bangalore and Mumbai.

Apart from a strong domestic market player, the company has an international presence with a global spread of offices and joint ventures with world leaders. International business over the last few years has seen overseas earnings growing to 18% of total revenue. Major business enterprises in the form of subsidiaries include L&T Finance, India Infrastructure Developers, L&T-Sargent & Lundy, Larsen & Toubro International FZE, L&T Power Projects, International Seaport Dredging, L&T Infrastructure Finance Company, L&T-Valdel Engineering, L&T Power Development, L&T Infra & Property Development, L&T Concrete, L&T Shipbuilding, L&T Strategic Management, L&T-Gulf, L&T Transco, Hi-Tech Rock Products & Aggregates, Larsen & Toubro Infotech, L&T Infotech GmbH (Germany), Larsen & Toubro Information Technology Canada, GDA Technologies Inc, L&T-Valdel Engineering, Spectrum Infotech, International Seaport Dredging, L&T Infrastructure Development Projects, Tractor Engineers, Larsen & Toubro International FZE and several step-down subsidiaries and joint ventures.

The registered office is located at L&T House, Ballard Estate, Mumbai-400001.

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