A REPORT ON L & T COMPANY

SUBMITTED TO PROF. KALGI SHAH BY KEVAL AMRELIYA YASH PARIKH PRASHANT PRASAD PRATH GAJJAR JAINAM SHAH JULLY SONI

INTRODUCTION
L&T(LARSEN & TOUBRO) was founded in Bombay (Mumbai) in 1938 by two Danish engineers, Henning Holck-Larsen and Soren Kristian Toubro. Both of them were strongly committed to developing India's engineering capabilities to meet the demands of industry. In 1944, ECC was incorporated. Around then, L&T decided to build a portfolio of foreign collaborations. By 1945, the Company represented British manufacturers of equipment used to manufacture products such as hydrogenated oils, biscuits, soaps and glass.

In 1945, L&T signed an agreement with Caterpillar Tractor Company, USA, for marketing earthmoving equipment. At the end of the war, large numbers of war-surplus Caterpillar equipment were available at attractive prices, but the finances required were beyond the capacity of the partners. This prompted them to raise additional equity capital, and on 7th February 1946, Larsen & Toubro Private Limited was born.

JOURNEY
Independence and the subsequent demand for technology and expertise offered L&T the opportunity to consolidate and expand. Offices were set up in Kolkata (Calcutta), Chennai (Madras) and New Delhi. In 1948, fifty-five acres of undeveloped marsh and jungle was acquired in Powai. Today, Powai stands as a tribute to the vision of the men who transformed this uninhabitable swamp into a manufacturing landmark.

HOW L&T CONVERTED INTO PUBLIC LTD

In December 1950, L&T became a Public Company with a paid-up capital of Rs.2 million. The sales turnover in that year was Rs.10.9 million. Prestigious orders executed by the Company during this period included the Amul Dairy at Anand and Blast Furnaces at Rourkela Steel Plant. With the successful completion of these jobs, L&T emerged as the largest erection contractor in the country. The sixties were also a decade of rapid growth for the company, and witnessed the formation of many new ventures: UTMAL (set up in 1960), Audco India Limited (1961), Eutectic Welding Alloys (1962) and TENGL (1963).

EXPANDING HORIZON
By 1964, L&T had widened its capabilities to include some of the best technologies in the world. In the decade that followed, the company grew rapidly, and by 1973 had become one of the Top-25 Indian companies.

In 1976, Holck-Larsen was awarded the Magsaysay Award for International Understanding in recognition of his contribution to India's industrial development. In 2013 L&T has grown up in many fields like, L&T CONSTRUCTIONS L&T POWER PROJECTS L&T FINANCIAL SERVICES RAILWAY SERVICES ENGINEERIED PRODUCTS & SYSTEM POWER PROJECT IT & ENGINEERING SERVICES MACHINERY & INDUSTRIAL PRODUCTS SHIP BUILDING INFRASTRUCTURAL DEVELOPMENT PROJECT

Today, L&T is one of India's biggest and best known industrial organisations with a
reputation for technological excellence, high quality of products and services, and strong customer orientation. It is also taking steps to grow its international presence.

"THE GAME CHANGERS"

Henning Holck-Larsen ( 1907 - 2003 )

Soren Kristian Toubro ( 1906 - 1982 )

The current players of L&T are A.M.NAIK (CHAIRMAN)

& K.VENKATARAMANAN (C.E.O)

AWARDS & RECOGNITIONS

Major Awards & Recognitions won by L&T in 2013 are as follows

L&T Wins ICC Corporate Governance & Sustainability Vision Award L&T Heavy Engineering Bags CIIITC Sustainability Award L&T Power Wins Golden Peacock National Quality Award National Good Design Award for L&Ts Solar Lantern
Mr. R. Shankar Raman is CFO of the Year - CNBC TV18

AND MANY MORE

OVERVIEW

The company's businesses are supported by a wide marketing and distribution network, and have established a reputation for strong customer support.

L&T believes that progress must be achieved in harmony with the environment. A commitment to community welfare and environmental protection are an integral part of the corporate vision. Offices were set up in kolkata , chennai & new delhi . In 1948, 55 acres of undeveloped marsh & jungle was acquired in powai,mumbai . That uninhabitable swamp subsequently became the site of its main manufacturing hub

FACTS AND FIGURES

The figures of L&T company for the year financial year 2011-12 are as follows
Revenue Operating income Net income Total assets Total equity Employees US$ 14 billion US$ 1.488 billion US$ 907 million US$ 22.84 billion US$ 5.978 billion 45,117

( NOTE 1 BILLION = 100 CRORES )

The share price of L&T company on date 10th September 2013 was 753.65

LARSEN & TOUBRO Ltd. ( COMPANY PROFILE )

INTRODUCTION TO THE COMPANY
Larsen & Toubro Limited (L&T) is India's largest engineering and construction conglomerate with additional interests in electrical, electronics and IT. A strong customerfocus approach and constant quest for top-class quality have enabled L&T to attain and sustain leadership over 7 decades. L&T's international presence is on the rise, with a global spread of over 30 offices and joint ventures with world leaders. Its large technology base and pool of experienced personnel enable it to offer integrated services in world markets. Joint ventures with world leaders have enhanced its presence. Its large technology base and a pool of professionally qualified and experienced personnel enable it to offer integrated services in world market. It is possible for them to remain as leaders in the business world due to their regular transformation of resources with changing trends in the business environment. L&T believes that progress must necessarily be achieved in harmony with the society. This is evident from the total commitment of L&T in the form of excellent Corporate Social Responsibility programs (CSR) going on in various parts of the country. L&T has integrated its strengths in basic and detailed engineering, process technology, project management, procurement, fabrication and erection, construction and commissioning, to offer single point responsibility under stringent delivery schedules. Strategic alliances with world leaders enable L&T to access technical know-how and execute process intensive, large scale turnkey projects to maintain its leadership position. L&T enjoys a brand image in India and several countries offshore. With factories and offices located all over the country and abroad, L&T operations are supplemented by a comprehensive distribution network and nationwide ramifications for customer service and delight!

THE BEGINNING:
Henning Holck Larsen and Soren Kristen Toubro, both Danish nationals, came to India in 1934, as employees of FL Smidth, Denmark, to provide engineering services to cement plants in India. During their stay they became fond of India and its culture. They realized the growing business potential in this country and laid the foundation of their partnership firm in the year 1938, christened as Larsen & Toubro. In the early years, they represented Danish manufacturers of diary equipment for a modest retainer. But with the start of the Second World War in 1939, imports were restricted, compelling them to start a small work-shop to undertake jobs and provide service facilities. Germanys invasion of Denmark in 1940 stopped supplies of Danish products. This crisis forced the partners to stand on their own feet and innovate. They started manufacturing dairy equipment indigenously. These products proved to be a success, and L&T came to be recognized as a reliable fabricator with high standards. Again the sudden interment of German engineers (because of the war) who were to put up a soda ash plant for the TATA, gave L&T a chance to enter the field of installation an area where their capability became well respected. The company had its humble beginning in a tiny room in South Mumbai near to the corporate headquarters. With time the company took huge achievement strides and the marshy land in South Mumbai was transformed to a sprawling enterprise spread over 99 acres, employing more than 24,000 people and catering to the engineering needs of the world with a diverse product line. Today, the enterprise of the company lies in Engineering and Construction but it is constantly leveraging its knowledge in other areas like Information Technology.

maraging steel for the Polar Satellite Launch Vehicle (PSLV). -gear, with the widest range.

heavy and large equipment. 1990's: ures into Software development.

Andhra Pradesh.

st open-sea jetty.

BOARD OF DIRECTORS

VISION
L&T shall be A professionally-managed Indian Multinational, committed to total customer Satisfaction and enhancing shareholders value. L&Tites shall be An innovative, entrepreneurial and Empowered team, constantly creating value And attaining global benchmarks. L&T shall Foster a culture of caring, trust and Continuous learning while meeting Exceptions of employees, Stakeholders and society.

MORAL VALUES
L&T Construction Equipment Limited is a wholly-owned subsidiary of Larsen & Toubro Limited. L&T has acquired the 50% stake held by Komatsu Asia Pacific Pte Ltd, Singapore in L&T-Komatsu Limited and consequently, the name of the company has been changed to L&T Construction Equipment Limited. The company continues to manufacture construction equipment and hydraulic components. Komatsu is responsible for the production of Komatsu equipment, including hydraulic excavators. L&T started this plant originally in 1975 in Bangalore to manufacture hydraulic excavators for the first time in India, with technical collaboration from Poclain SA, France. The company introduced several models of excavators in the Indian market with enormous success, followed by other crawler and wheeled equipment as well. In 1998, L&T-Komatsu Limited was formed as a joint venture company between L&T and Komatsu Asia Pacific Pte. Ltd, Singapore, a wholly-owned subsidiary of Komatsu Ltd, Japan. Komatsu is one of the global giants in the construction and mining industry. The manufacturing facility comprises advanced CNC machines, robotic welding facility, hydraulic shop and automated assembly lines to roll out Hydraulic Excavators of various sizes from 7 ton to 60 tons. The products are benchmarked to international standards in design, materials, manufacturing and quality. The plant is certified under ISO-14001 for environment management system and OHSAS-18001 for occupational health & safety management system.

CORPORATE SOCIAL RESPONSIBILITY

L&T believes that the true and full measure of growth, success and progress lies beyond balance sheets or conventional economic indices. It is best reflected in the difference that business and industry make to the lives of people. Through its social investments, L&T addresses the needs of communities residing in the vicinity of its facilities, taking sustainable initiatives in the areas of heath, education, environment conservation, infrastructure and community development. The company proactively provides assistance in situations such as natural calamities and assists victims of nature's fury or social neglect. Many social initiatives are undertaken in partnership with government agencies and NGOs.

Health
L&T's participates in building a healthy community through continuing initiatives in several areas of healthcare, with a focus on mother & child care and HIV/AIDS awareness. All L&T locations, including construction sites, have in-house AIDS awareness programs. Five additional mother & child care centres were set up in 2006-07. In partnership with local NGOs, these centres benefit children of commercial sex workers, street children and tribal communities.

Education
L&T's diverse and sustained programmes in education provide underprivileged children with learning opportunities through supply of educational materials, teaching aids, recreational tools and up scaling school infrastructure. L&T also enriches children's lives through programmes like summer camps, maths coaching, providing facilities like science laboratories, scholarship to deserving students, etc.

Environment
Global warming: at L&T, we have always been conscious of the need to maintain harmony with the environment. The Zero Discharge approach of the Powai Campus saves over 350,000 litres water everyday through water treatment and recycling.

Response To Natural Calamities

L&T and its employees have provided relief measures during natural calamities like earthquake and floods. L&T has assisted in disaster relief through employee and corporate donations, employee volunteering, supply of construction material, medical and food supplies. After the floods in Surat (Gujarat-India), L&T played a major role in road-clearing operations, organising medical camps, and supply of food, water, clothes and other relief materials.

Employee Volunteering
L&T encourages employees to volunteer for CSR activities, resulting in a self-driven approach while retaining consistency. L&T employees and the ladies clubs formed by their families at different locations, serve their communities by investing personal resources and time. From taking initiatives in building the next generation of productive citizens, empowering women, paying regular visits to old age homes and orphanages, to organising blood donation camps, our employees have always believed in truly making a difference to the world in which they live.

SUMMARY
L & T is an company which is spread in various sector by construction, power project, financial service, railway service etc. L & T got various awards ans achievements. It also plays an important role towards social responsibility. L & T believes that progress must be achieved in harmony with the environment and society. It also establish in strong reputation for strong customer supply. Today L&T is one of the Indias biggest and best known industrial organizations with a reputation for technological excellence, high quality of products and services, and strong customer orientation. It is also taking steps to grow its international presence. There cannot and must not be an end. And thus L&T saga continues.