Larsen & Toubro

Larsen & Toubro Limited (L&T) is a leading engineering and construction company. The infrastructure major also has a significant presence in the IT, finance and power sectors. In its more than seven decades of operation, the company has maintained a leadership position in the engineering and construction segment in India. L&T also has global offices and manufacturing units in several countries.

The company has been involved in major infrastructure projects in India and abroad such as building bridges, metro rail systems and airports. L&T also has a considerable footprint in the defence sector with its high-performance engineering solutions.

Established in 1938 by Henning Holck-Larsen and Soren Kristian Toubro, L&T has its headquarters in Mumbai. The company has its operations in over 30 countries in Asia, Middle East and Africa.

The market capitalisation of L&T stood at over ₹4.85 lakh crore as of December 15, 2023. L&T share price has surged nearly 177% in the last three years.

L&T business operations

L&T has diversified into different sectors and operates its business through many subsidiaries. The company is involved in research and development activities, particularly in areas such as renewable energy, water management and smart infrastructure.

The company has worked on landmark projects such as Mumbai International Airport, Statue of Unity, Motera Cricket Stadium and Riyadh Metro.

L&T Heavy Engineering is a global hi-tech manufacturing company and supplies engineered-to-order equipment for refinery, oil and gas, fertiliser, petrochemicals and nuclear industries. Its manufacturing facilities are located at Hazira (Surat), Ranoli (Vadodara) and Powai (Mumbai).

The company expanded its presence in the IT sector with acquisition of Mindtree in 2019. LTIMindtree is a global technology consulting and digital solutions company. It has over 700 clients across 30 countries.

L&T offers financial services under its subsidiary L&T Finance Holdings, a non-banking financial company (NBFC). The company is engaged in personal loans, two-wheeler loans, home loans, farm loans and SME loans.

Financial highlights

The company’s consolidated revenue stood at ₹1.83 lakh crore in FY23, marking a 17% growth year-on-year compared to ₹1.56 lakh crore in FY22.
In FY 23, profit after tax (PAT) jumped to ₹12,624 crore compared to ₹10,291 crore in the preceding financial year.
The earnings per share stood at ₹74.51 in FY23 as against ₹61.71 in FY22. L&T’s total borrowings reduced to ₹1.18 lakh crore in FY23 compared to ₹1.23 lakh crore in FY22.