Larsen & Toubro (BOM:500510)

QUOTE AND NEWS
The Hindu Business Line  May 21  Comment 
I chanced upon the ad for L&T Finance Home Loans on TV and it brought a grin to my face. The triumph of the protagonist when he announces at home that he’s found the right apartment wi...
The Times of India  May 18  Comment 
Private equity majors Bain Capital and Baring Asia are vying for a sizable minority stake in L&T Finance Holdings as the listed financial services arm of construction and engineering services conglomerate L&T looks to raise up to $500 million (Rs...
The Economic Times  May 15  Comment 
"That should trigger another rate cut even before June 2 because around June, looming uncertainty about monsoon and other factors will become more important."
The Hindu Business Line  May 13  Comment 
L&T Finance Holdings (LTFH) has businesses spanning corporate, retail and infrastructure lending. During the March quarter, the company saw a healthy improvement in earnings, and its strate...
The Economic Times  May 11  Comment 
Analysts say these stocks may remain under FII radar over the coming weeks, which may give near-term appreciation in share prices.
The Hindu Business Line  May 8  Comment 
L&T Finance plans to raise about Rs 170 crore by way of issuing non-convertible debentures on private placement basis. “The company intends to issue secured, redeemable, Non-Convertib...
The Hindu Business Line  May 7  Comment 
L&T Hyderabad Metro Rail has started mainline testing of trains on Stage 2 between Miyapur and KPHB. After getting approval from the Electrical Inspector General to charge the stretch...
The Economic Times  May 6  Comment 
'Larsen & Toubro Ltd is a 'SELL' call with a target of Rs 1,530 and a stop loss of Rs 1,638'
The Hindu Business Line  May 4  Comment 
L&T Infrastructure Finance Company today said it plans to raise Rs 300 crore through debentures. The company intends to issue secured, redeemable, non-convertible debentures of the fa...
The Hindu Business Line  Apr 29  Comment 
In the current month the power transmission and distribution business of L&T Construction, has won orders worth ₹802 crore in the domestic and international markets, a press statement issued b...




 
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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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