Sustainability Report L & T
OVERVIEW
The company was founded in Mumbai in 1938 by two Danish engineers, Henning Holck-Larsen and Søren Kristian Toubro. The company started off as a representative of Danish manufacturers of dairy equipment. However, with the start of the Second World War in 1939 and the resulting restriction on imports, the partners started a small workshop to undertake jobs and provide service facilities. The first Industry that they catered to was the manufacturing of bicycles.
L & T presently has operations in 30 countries with manufacturing facilities in India,China,Oman and Saudi Arabia. The company looks at sourcing locally in most of its operations, thereby looking at building a long term supply chain. It recently became the first Indian company to win the contract to upgrade the national airport of Oman. In India it has presence in 250 different locations with major offices in Mumbai, Kolkata , Chennai and New Delhi.
The company achieved total turnover 9.8 billion USD and it has a market capitalization of 22 billion USD. 82% of its revenue comes from domestic market with the other 18% coming from the overseas market. Furthermore it employs over 50,000 people around the world
The various sectors that L& T has operations are:
Engineering and Construction Projects
L&T Power
Heavy engineering
Construction
Electrical and electronics
Information technology
L&T Machinery & Industrial Products
The company believes that development of infrastructure leads to the growth of the nation and hence with this lookout has also participated in key national projects like:
Terminus