Larsen & Toubro

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Larsen & Toubro Limited

Type	Public Company, Listed on BSE and NSE
Founded	1938
Headquarters	Mumbai, India
Key people	A M Naik, CEO
Industry	Engineering Services
Revenue	$3.5 billion USD (2005)
Employees	22,922 (2005)
Website	www.larsentoubro.com

Larsen & Toubro Limited is India's largest engineering and construction conglomerate, with diverse interests such as Construction,hydraulic equipments, power services electrical and electronics, fertilizer projects,medical electronics and information technology. It generates almost 85% of its revenue from the construction business. Founded in 1938, the company is currently headquartered in Mumbai, India. A strong, customer-focussed approach and the constant quest for top-class quality have enabled the Company to attain and sustain leadership position for over six decades.

L&T has made spectacular achievements in Indian industry. Many of the engineering projects executed by L&T have set new benchmarks in terms of scale, sophistication and speed. So do many buildings, highways, bridges and civil structures around the country which are widely regarded as landmarks.

In line with its policy of aligning capabilities to meet emerging trends, L&T initiated a mega-transformation process internally. This will ensure that the Company rapidly emerges as a knowledge-based, premium conglomerate with a global reach.

1 History
2 Indian multinational
3 Awards
4 Forbes Global 2000 Ranking - 2005
5 External links
6 References

[edit] History

The name is derived from its two founders, Danish born citizens who settled down in India. The evolution of L&T into the country's largest engineering and construction organizations is among the more remarkable success stories in Indian industry. The company was founded in (Goa) in 1938 by two Danish engineers, Henning Holck-Larsen and Soren Kristian Toubro - both of whom were strongly committed to developing India's engineering talent and enabling it to meet the demands of industry. Beginning with the import of machinery from Europe, L&T rapidly took on engineering and construction assignments of increasing sophistication. Today, the company sets engineering benchmarks in terms of scale and complexity.

[edit] Indian multinational

In line with its strategy of aligning capabilities to meet emerging trends, L&T recently initiated a mega-transformation process, internally to ensure that it emerges, as a knowledge-based Indian multinational.Over the years the company has proactively created the necessary infrastructure for its global initiative with office locations in USA, Europe, Middle East and Japan.

The Engineering Construction & Contracts Division made significant progress during the year in increasing its presence in the overseas markets. The Division secured orders from international clients located at Malaysia, USA, UK, Brazil, Saudi Arabia, UAE, Qatar, Bangladesh, Sri Lanka etc. The export earnings of the Division amounted to Rs. 4.84 billion during the year. The customer profile includes leading names such as Samsung, Chevron, Bechtel, Kvaerner, Pirelli, Siam Michelin, Goodyear, etc.

The Electrical & Electronics Division too has increased its thrust on exports and has trebled the export revenues to Rs. 210 million during 2000-2001.

Larsen & Toubro Infotech Limited (L&T Infotech), a 100% subsidiary of the US$ 3.5 billion Forbes Global 2000 and BusinessWeek Asia Top 50 technology-driven engineering and construction major, Larsen & Toubro Limited, offers comprehensive, end-to-end software solutions and services. Leveraging the heritage and domain expertise of the parent company, its services encompass a broad technology spectrum, catering to leading international companies across the globe.

L&T believes that progress must necessarily be achieved in harmony with the environment. A commitment to community welfare and environmental protection constitute an integral part of its vision.

[edit] Awards

Golden Peacock Award for Training in 2005 was awarded to L&T-Sargent and Lundy Ltd,(A joint venture between L&T and Sargent and Lundy LLC, Chicagao) for excellence in training practices adopted by the organisation. L&T-S&L Ltd is a premium engineering company in Power Plants with its presence in India and Middle East. Sargent and Lundy LLC, Chicago is one of the oldest and largest Power Engineering Firms in the US.

Silver Award (2005) from The Royal Society for the Prevention of Accidents(RoSPA), UK. The award recognizes excellence in occupational health and safety performance.

SGCCI Golden Jubilee Memorial Trust Award for outstanding performance in Export of Engineering Goods for 2004-05. This Award highlights L&T's export of high-tech, custom-built equipment worldwide.

Greentech Safety Awards (2005) by the New Delhi-based non-profit organisation, Greentech Foundation, for the remarkable effort in industrial safety and environmental management.

L&T was ranked among the Best Managed Companies in India in a study conducted by Business Today.

The Southern Region of the Engineering Export Promotion Council (EEPC) awarded Audco India Limited] - an associate company of L&T - its trophies for high exports for two consecutive years, 2001-02 and 2002-03.

Sankara Ratna Award (2004) given to A. M. Naik, chairman and managing director of L&T.

Export Excellence Awards for the years 2001-02 and 2002-03, given by the Engineering Export Promotion Council (EEPC), Western Region.

Golden Peacock Award in the "Innovative Product/Service category" for 2004 from the Institute of Directors - a non-profit apex association of directors committed to improving the competitiveness of Indian businesses.

Ethics is Good Business award from the New Delhi based PHD Chamber of Commerce & Industry (PHDCCI).

The Corporate Communications Department (CCD) won ten awards at the 44th Annual Awards Competition organized by the Association of Business Communicators of India (ABCI).

India Manufacturing Excellence Award from Frost & Sullivan, 2004.

Lifetime Achievement Excellence Award for Best Corporate Man of the Decade presented to A.M. Naik, chairman and managing director of L&T by The New Delhi-based Foundation of Indian Industry & Economists in 2004.

Handa Golden Key Rolling Trophy, the first prize in 2003-04, from the Indian Value Engineering Society (INVEST).

Environment Excellence Award 2003-04, Greentech Foundation.

Businessworld's survey on "India's Most Respected Companies", ranked L&T First in Infrastructure Sector. L&T won the coveted Most Respected Company Award in this sector.

India Star 2004 Award was awarded to L&T Medical (MED) by the Indian Institute of Packaging (IIP).

At the Construction World-NICMAR Awards 2004 ceremony on October 26, 2004, L&T received the Largest Construction Company in India award by National Institute of Construction Management and Research (NICMAR), Pune, Maharashtra, and Mumbai based ASAPP Media Information Group. ASAPP Media publishes the magazine, Construction World.

A. M. Naik, Chairman and Managing Director of L&T, was honoured with the Executive of the Year Award 2004 by Indian Association of Secretaries & Administrative Professionals (IASAP) in 2004.

L&T's stall at Baucon India 2004 bagged top honours with the Best Display Award and its 'Road Miller cum Soil Stabilizer' won the Best Product Award. Baucon India 2004, the second International Trade Fair for construction machinery and building materials, was held at New Delhi, from September 9-12, 2004. It was organised jointly by IMAG/Messe Munchen International, Germany, Tafcon Group, India, and Veronafiere, Italy.