L&T History & Overview

1946

- On 7th February, the Company was incorporated. Larsen & Toubro carries on business as civil
mechanical electrical chemical & Agricultural engineers as manufacturers as importers & exporters &
as contractors.

1969

- With effect from 1st Oct., Alu Capsules Ltd & India, Crown Cork, Co. Ltd, both wholly owned
subsidiaries were amalgamated with the company. And a new division was formed like Bottle
Closure Division.

1975

- During the year, the company commissioned a plant at Bangalore for the manufacture of
multipurpose hydraulic excavators and high pressure hydraulic system in collaboration with Poclain,
S.A. France.

1977

- During the year Faridabad Factory become operative and commenced the manufacture of
switchboards.

1979

- With effect from 1st April, Wilcox Buckwell India, Ltd another subsidiary, was merged with the
company.

1981

- Utkal Machinery Ltd was amalgamated with the company with effect from 1st April.

- During the year, the company signed an agreement with Hong kong ship-owners for the purchase
of two bulk carriers of 27,000 DWT capacity each built in Japan at a contractual price of U.S $ 18.3
million each.

1982

- The Company's subsidiary Engineering Construction Corporation, Ltd

was merged with the company with effect from 1st Oct.

1983

- During the year, the company established a cement plant with an installed capacity 1 million
tonnes per annum in Chandrapur district in Maharashtra and commenced commercial production of
cement.

1984

- During the year, the company signed collaboration agreement with Y.E Data, Japan for floppy disc
drives, with honeywell information systems, India for dot matrix printers and with Jeumont
Schneider, France for electronic PABX. Another collaboration agreement was signed with potain
Poclain Material, France for manufacture of mobile cranes at Kansbahal works. The company also
signed collaboration agreement with Oesterreichische Doka Schalungs-und Geruestungstechnik
GmbH, Austria for farmwork systems used in the construction industry.

1985

- During the year, the Company manufactured and delivered two-end shields for Kakrapara Atomic
Power Project.

1986

- During the year, the company commissioned a new factory in Hebbal Industrial Estate near Mysore
in Karnataka for the manufacture of computer peripherals such as dot matrix printers and floppy
disc drives.

1987

- During, the company diversified into the field of 400 KV transmission lines.

1988

- During the year company entered into collaboration agreements with Sundstrand Sauer, USA for
the manufacture of axial piston units, with case vibromax, W. Germany for manufacture of vibratory
compactors and with JI Case, USA, for the manufacture of wheel loaders. Also a memorandum of
understanding was signed between the company and Colas S.A of France for setting up a joint
venture company for production of asphalt emulsion.

1989

- A new project was commissioned at Mysore in Karnataka for the manufacture of medical
electronics products. During the year the Company received industrial licences for the manufacture
of ship auxiliaries and components of mechanised sailing vessels and rail track laying, track
maintenance and renewal equipment.

- During the year the company entered into a technical collaboration agreement with MPSI of USA
for the manufacture of ring hammer mills and rotary breakers required for sizing of coal.

1990

- During, the company entered into an agreement to take over the tractor unit of Kirloskar
Pneumatic Co. Ltd.

- During the year company completed construction of 200 flats for Sai Central Trust, Puttaparthy.
The company also commissioned a sponge iron plant of 8,80,000 tonnes per annum capacity for
Essar Steel at Hazira.

- During the year following foreign collaboration agreements were entered into 1. With
mannesmann Anlagenbau, Germany to bring in the latest technology in ash handling at coal-based
thermal power plants, 2. With AFE Displays Ltd., UK for supervisory colour graphics controller, 3.
With Western Digital Corporation, USA., for hard disk drives and 4. With Y-E Data Inc., Japan for 3.5''
floppy disk drives.

1991

- During the year a major contract was signed for augmentation of the Trisuli Hydro Power Project in
Nepal.
1992

- A carbonate condenser for IFFCO, Kalol was manufactured to Stami Carbon Process for the first
time with the stringent requirements of ultrasonic testing for each tube-to-tube sheet joint. The
company also developed ethylene oxide reactor for SM Dyechem.

- During the year Co. developed public switching system with a capacity upto 10,000 lines and 2GH2
microwave transmission equipment

of 30- channel and 120 -channel capacity and they were installed for

field evaluation by the Department of Telecommunications.

1993

- L&T - Gould Ltd. was amalgamated with the Company effective from 1st January. During the year
a new model 90 CK -111 was launched. A methanol cometics for Deepak Fertilizers and test
separation for ONGC platform were delivered. A pair of endshields was also fabricated and supplied
for the 235 MW Karga Atomic power project. Also the company commissioned the Max-L telephone
exchange of 2000 lines extendible upto 1,10,000 lines at Chittorgarh, Rajasthan.

1994

- During November, the company offered 80,83,832 GDR shares at a issue price of US $ 8.35 per
GDR representing shares 161,67,664 equity shares at a price equivalent to 262 (at an exchange rate
of Rs.31.37=US $ 1.). All the GDR were fully subscribed. The Company along with Energy Alternatives
Inc., U.S.A signed a MOU with SAIL for promoting & developing 2 x 250 MW Coal based power plant
at Bhilai in M.P.

- During the year, the company along with Energy alternative Inc. U S A., signed a MOU with SAIL
for promoting & developing 2 x 250 MW Coal based power plant at Bhilani in MP. Also the company
tied up with Sargent & Lundy U S A., to offer EPC service for thermal power projects and also to form
a joint venture engineering company. This joint venture would offer engineering services to power
projects in India and abroad.

1995

- During the year an international scale glass container plant employing the state-of-the art
technology was being set up in technical collaboration with Vetropack, Switzerland. During the
same year, the company signed of memorandum of intent with Samsung Electronics Co. Ltd. of
South Korea to form a joint venture for the manufacture and marketing of a vide spectrum of
telecom products including large switches, transmission products, paging systems and PABX. Also
signed an MoU with Orissa govt. for setting up a integrated steel plant at Gopulpur.

- During the year a new cement plant at Kovaya in Gujarat with annual capacity of 15 lakh tonnes
was commissioned.

1996

- During the year, the Company has two subsidiary companies namely, L&T-McNeil Limited and L &
T Finance Limited, and seven associate companies namely, Audco India Limited, Ewac Alloys Limited,
Tractor Engineers Limited, L&T- Niro Limited, L&T-Chiyoda Limited, L&T-Sargent & Lundy Limited and
Larsen & Toubro (Oman).
1997

- The Company is also putting up captive power plants at Awarpur and

Gujarat so as to ensure continuous availability of equity power at

reasonable cost.

- The Larsen and Toubro (L&T) Employees Association has launched an

indefinite strike from January 21 protesting against the alleged

harassment and victimisation of workers by the management, even as

the management termed the strike illegal and contended that it had

only

initiated disciplinary action against some employees for misconduct

and non-performance.

- L&T-McNeil Limited, a subsidiary of Larsen & Toubro Limited, has

been awarded the All India Special Shield for 1995-96 in the category

of non-SSI New Product Exporters by the Engineering Export Promotion

Council.

- Larsen & Toubro (L&T) has won the Golden Peacock National Quality

Award 1996 and for the year 1997 instituted by the Institute of

Directors (IOD), New Delhi.

- The private sector giant Larsen and Toubro (L&T) will introduce 300

varieties of computerised ready mix concrete for the first time in the

country so as to develop a new concept in the building industry.

- The Engineering and Construction conglomerate, Larsen & Toubro

Limited (L&T), has been selected by Indian Institute of Bridge

Engineers to receive the Most Outstanding Bridge National Award -

1996. The company has built 460-metre long flyover bridge at Evarard

Nagar,

Wadala, Mumbai, which has been chosen for the award for its excellent

aesthetics and blending with the environment.

- The equity shares of Larsen & Toubro Ltd., Dabur India Ltd., Great

Eastern Shipping Company Ltd., Jindal Vijayanagar Steel Ltd. and

Jindal Iron & Steel Ltd have been admitted for dematerialisation.

- Larsen & Toubro Limited (L & T) has been marketing the world class

range of fax machines from Canon in India. It has added a

high-quality laser plain-paper fax machine, model L300, to the

existing range.

- Engineering major Larsen & Toubro has been awarded the 115 MW ISO

capacity captive power project of Haldia Petrochemicals in West

Bengal as an independent power producer.

- Larsen & Toubro Ltd (L&T) has entered into a 50:50 joint-venture

with Komatsu, Japan, to manufacture hydraulic excavators and

components.

- L&T has received a letter of award for setting up a combined cycle

co-generation power plant for Haldia Petrochemicals Ltd (HPL) on a

build-own-operate basis.

- Under a memorandum of agreement signed between Larsen and Toubro

Ltd and Japan's Komatsu Ltd, the two engineering companies have

decided to form an alliance in the construction equipment business in

India and its neighbouring countries.

- Larsen and Toubro Limited (L&T) has been awarded a railway

electrification contract for the Vallathol Nagar Ernakulam section in

Kerala.

1998

- The joint venture has been set up for the manufacture of

earthmoving equipment and has a paid-up share capital. Both L&T and

Komatsu are chipping in with 50 per cent each of the equity base.

- Diversified industrial giant, Larsen and Toubro (L&T) has entered

into a joint venture with Dear and Co., a leading international

agricultural machines company, to manufacture tractors.

- Larsen & Toubro Ltd (L&T) has bagged two national awards for

excellence in construction from the Association of Consulting Civil

Engineers (ACCE) for 1998. The ACCE-Sarvamangala Award was given in

recognition of the work done by L&T in constructing the Sree

Kanteerava

Indoor Stadium in Bangalore, while the ACCE-Billimoria Award in the

high-rise buildings category was given for the international

technopark, also in Bangalore.

- Larsen and Toubro Ltd (L&T) has been conferred the Indian Chemical

Manufacturers Association (Icma) award for excellence in chemical

plant design and engineering for 1997.

1999

- Engineering major Larsen & Toubro has bagged the EPC contract for
the Rs 135 crore captive power plant being set up by Usha Martin

Industries, currently known as Usha Beltron, of the Jhawars.

- The promoters of HPL Cogeneration, a joint venture between Larsen &

Toubro (L&T) and Haldia Petrochemicals Ltd (HPL), have converted their

loans into equity shares. As a result of the conversion, which was

done at a part value of Rs 10 per share, the company's equity capital

has jumped from Rs 5 crore to Rs 122 crore.

2000

- Cement giants Larsen & Tubro (L&T) and Gujarat Ambuja Cements have

entered a unique agreement to reduce transportation costs in

despatching bulk cement in Gujarat.

- Crisil has assigned the highest safety rating to engineering and

construction major the company's Rs 100 crore debenture issue.

- The Company its Nashik Glass Work, an accidental leakage of molten

glass from furnace took place on 12th March.

- Larsen and Toubro announced a strategic partnership with SAP India.

- The Company is to set up a wholly-owned subsidiary -- `L&T Capital

Company Ltd' -- to focus on business opportunities in the capital

market.

- L&T has formed a new company, L&T Equipment Leasing Co. Ltd., to

which will be transferred the construction equipment owned by

ECC-operating division.
- L&T Information Technology Ltd., a wholly-owned subsidiary of

Larsen and Toubro Ltd., has been awarded the National Export Award

for 1998-99.

- Larsen and Toubro (L&T) has floated a 26:74 joint venture with

Japanese major Sharp Corporation which will absorb the company's

existing distribution business of electronics office equipment.

- The Company is offering a 5-year NCD issue at 11.25 per cent to mop

up Rs 50 crore with a green-shoe of Rs 25 crore.

- L&T has launched its slag cement under the brand name S-53 in

Bellary district of Karnataka and a few districts in Andhra Pradesh.

- The Company has extended its employees stock option plan to cover

500 employees all in the senior management cadre.

- Larsen & Toubro's construction division has been awarded a contract

for building two stadia in Quatar.

- Larsen and Toubro launched the second phase of HITEC city.

- The Company will increase its cement capacity by 2 million tonne to

16 million tonne, facilitated by a one million tonne grinding unit in

West Bengal.

- The Company will set up a private market for its engineering,

procurement and construction business.

- The Company, India's largest cement producer with an installed

capacity of over 14 million tonne, is setting up a 1mt grinding unit

at Durgapur in West Bengal.

- The Company will hive off its cement business by March.

- Larsen & Toubro has appointed investment bankers J P Morgan and DSP

Merill Lynch to advise them on the proposed demerger of its cement

division.

- The Company has appointed Vijay Kumar Magapu as a successor to

Achyut S Godbole, the outgoing CEO of its IT arm L&T Information

Technology.

- Sharp Business Systems (India) Ltd. the joint venture between Sharp

Corporation and Larsen & Toubro, has launched its inkjet printers in

India.

- Larsen & Toubro is set to replace the Associated Cement Companies

in setting up a one million tonne grinding unit in Jindal Vijaynagar

Steel complex.

- The Company and Gas Authority of India have agreed to collaborate

in research and development, new technologies, liquefied gas plants

and terminals, pipelines, petro-chemicals, power and

telcommunications areas.

- Larsen & Toubro has commissioned its new cement plant at Arakkonam

in Tamil Nadu on December 13.

- Engineering major Larsen & Toubro and German firm Demang Ergotech
will form a 50:50 joint venture company to make injection moulding

machines at the former's manufacturing facility in Chennai.

2001

- The Company has informed BSE that the company has entered into a

joint venture with Demag Ergotech of Germany.

- Larsen & Toubro has formed a separate company L&T EMSYS (L&T

Embedded Systems) for embedded software development.

- The Company commissioned its cement grinding plant of 1 million

tonne capacity at Arakkonam in Tamil Nadu in December 2000.

- L&T-DEMAG Plastics Machinery Pvt. Ltd. hte new joint venture

between Larsen & Toubro Ltd and Demag Ergotech of Germany, has

commenced operations.

- L&T Information Technology Ltd a subsidiary of Larsen & Turbro Ltd,

and Sun Microsystems Pvt. Ltd. have signed a memorandum of

understanding to jointly offer e-business solutions to their

customers.

- L&T Information Technology, a fully-owned subsidiary of Indian's

leading engineering company Larsen and Turbo, may set up a software

development center in Orissa's capital.

- The National Highways Authority of India (NHAI) has signed two

contracts with Larsen & Toubro for the construction of two major

bridges on Vijayawada-Visakhapatnam section of NH 5 in Andhra

Pradesh.
- Larsen & Toubro has successfully closed an $104-million syndicated

term-loan facility. The initial borrower is L&T, but the loan would

get transferred to the cement company as and when the demerger of its

cement business was completed,

- Larsen & Toubro Ltd (L&T) has bagged the Rs 121.5-crore contract to

construct a 36.89-km stretch of the National Highway Four between

Kanchipuram and Walajahpet along the Chennai-Bangalore highway.

- Larsen & Toubro Ltd (L&T) has introduced its third voluntary

retirement scheme (VRS) for unionised employees, applicable

specifically to those below the managerial level. Staff costs for

the just concluded fiscal stood at Rs 587.95 crore for the company.

- The joint venture between Larsen & Toubro and Joannou &

Paraskevaides (Overseas) Ltd of Cyprus has bagged the six-lane

highway project between Jaipur and Kishangarh on NH-8 in Rajasthan

which is estimated to cost around Rs 673 crore.

2002

-Buys over the shareholding of Caterpillar, USA, in its joint

venture Tractor Engineers Ltd. (TENGL), makes it wholly owned

subsidiary

-Submits end shield to National Power Corporation of India Ltd.

(NPCIL) for the first time in the country

-Gets `European Standard CEM I 42.5R' accreditation for its Gujarat

cement works
-Financial Institutions stake increases in L&T to 37%

-Grasim Industries and Larsen & Toubro together set up a task force

for logistics, promotion and procurement of raw materials

-Steps into Chinese market with medical equipment business

-Exits from its internet trading business

-Receives clearance from the Tamil Nadu govt. for its revised toll

proposal for the Coimbatore bypass project

-Gets Rs 37.53 cr contract from Northern Railway

-Grasim Industries hikes its holding further in Larsen & Toubro (L&T)

to 13 per cent

-Mops up 3-month money at 6.55%

-IL&FS and L&T tie up for joint development of infrastructure

projects

-Implements compulsory retirement scheme across all its facilities in

the country

-Places Rs 50 crore of five-year debentures with ICICI Securities and

Finance (I-Sec) in a unique deal.The instrument, named rating

contingent debenture (RCD), is the first of its kind in the Indian

debt market
-Closes down the loss-making subsidiary, Narmada Cement's grinding

unit at Magdalla in Gujarat, citing adverse market conditions

-L&T Infotech opens IBM centre

-Opts for out of court settlement with three advertising agencies

Prime Displays, Everest and Abiz over the dispute of non-payment of

Rs 20 crore dues

-Builds Rs 450-cr large hydrogen unit and refinery offsites and

utilities project for IOC at Barauni

-Receives prestigious contract to build an eight tower

hotel-cum-residential complex in Dubai's upmarket Sheikh Zayed Road

-Raises Rs 65 crore through 10 year secured bonds

-L&T, Shapoorji Pallonji form joint venture to take up Cyber Tower

project in Mauritius

-Bags Rs 5810 million turnkey refinery order from IOC

-Grasim Industries hikes stake in L&T to 14.15% from 13%

-Bags two engineering, procurement & construction (EPC) contracts

from Kuwait National Petroleum Company (KNPC) for revamp of Sulphur

Recovery units at their refineries at Shuaiba and Mina Abdullah in

Kuwait

-Bags a contract worth of $23 million (over Rs 100 crore) from

Lafarge Surma Cement, Bangladesh, for the construction of a

17-km-long cross-national belt conveyor

-Wins two large World Bank financed lumpsum turnkey contracts having

a total order of approx. $100 million form Songas Ltd, Tanzania

-Cyber Towers and Cyber Gateway - L&T Infocity engages

Singapore-based $700 million Ascendas Pte Ltd to commission a Rs 180

crore-mega IT complex called 'Cyber Pearl' in Hitech City near

Hyderabad

-Gets contract for constructing the longest flyover in New Delhi

-Gets award from International Federation for Structural Concrete

-Hiked its capacity to 16.5 million tonnes thus gaining its position

as the largest cement company in India, overtaking the capacity of

The Associated Cement Companies (ACC)

-Forges an alliance with Australian firm JV International Pty Ltd to

set up a project in Pondicherry to manufacture steel door and window

frames

-LIC increases its stake in the company to 18.5% from 17.42%

-Grasim Industries sends legal notice, challenging Larsen & Toubro's

attempt to demerge the cement business into a separate company

2003

-Bags $32.50 million order from Oman India Fertiliser Project

-Bags Indian Oil Contract to Build Panipat PTA Plant

-Wins Rs 2690 million IBRD-funded road project in Karnataka

-Revamps Engineering Division, splits it into four divisions

(Buildings & Factories, Civil Infrastructure, Industrial Projects &

Electricals)

-Obtains four licences, issued by the central government, for design,

manufacture and assembly of warships, submarines and weapon platforms,

radar and sonar systems and electronic warfare equipment and systems

sensors, weapon launchers and armaments including missiles and

rockets. Besides, the company also receives the government�s nod for

design and development of sophisticated armoured and other combat

vehicles and bridge-laying systems on tanks

-Ties up $50m loan with IFC for financial restructuring

-Signs tie-up with Kobe for Hydraulic Tyre Curing Presses

-Becomes the first company in the Asian region to be selected for

undertaking infrastructure related work in Iraq by the United States

aid agencies

-L&T ECC completes electrification of Bihar rail project

-Lafarge S.A, the French company, mandates Larsen and Toubro the EPC

contract for constructing a 1.2 million tonnes per annum cement plant

in Bangladesh

-L&T and Thames Water (UK) in a 70:30 joint venture, have bagged a
prestigious contract for The Leakage Reduction Control & Water

Rehabilitation Work

-Approves plan to demerge its cement business into a separate

subsidiary and cede management control to Aditya Birla group flagship

Grasim Industries, ending an eight-month tussle over India�s largest

cement company

-Enters into an agreement with International Finance Corporation

(IFC), the private sector arm of World Bank Group, for a long term

loan of US $50 million

-Gets contract for curtailment of leakage worth Rs 50 cr from BWSSB

-Increases its stake in its Oman subsidiary Larsen & Toubro Oman LLC

to 65 per cent from 49 per cent via the acquisition of 1.1 lakh

shares

-Ties up with European companies for its Electrical Standard Products

(ESP) business in Europe

-Henning Holck-Larsen, 96, co-founder and chairman emeritus of

India's largest engineering and construction conglomerate Larsen &

Toubro Ltd, passed away in Breach Candy Hospital, Mumbai, at 1.10 pm

on July 27

-Bags a Rs 420 million order to build a flyover in Oman

-L&T Infotech, a wholly-owned subsidiary of Larsen & Toubro Limited,

has bagged a $75m order from US telecom giant Motorola for SAP

implementation and mainframes

-Forays into China by inducting a representative in China to supply

critical modular equipment for various projects

-Enters into an agreement with Citibank NA, New York offering the

issuance of Global Depository Shares

-Sets up a trust to acquire the holdings of Grasim Industries in the

company

-Bags Motorola contract worth $100m for SAP implementation and

mainframes

-The company has shut down its packaging business as part of a

portfolio restructuring.

-Tied up to finance jointly with the union bank of india for its

tractors to the farmers

-Picks up 30% stake in newly formed NAC Infrastructure Equipment

(NACIEL)

-Gets order from Shell Hazira Gas to develop Liquid natural gas

-L&T bags Rs 9210 million mega order for country's largest hydel

project

-L&T bags Rs 7000 million Power Plant Order

-L&T Board approves disposal of Glass Business

-L&T secures Rs 700 cr power plant order from GMR group

2004

-L&T-John Deere sign MoU with SBM for tractor financing

-L&T bags an order worth $30-m in UAE

-L&T receives Rs.1370 mn order for Nuclear Power Plant Equipment

-Centre grants licence to L&T to make submarines

-L&T bags commendation award

-L&T-John Deere join hands with BoI for tractor finance

-Larsen & Toubro CMD gets corporate leadership award

-Mops up Rs 225 crore by privately placing bonds with banks, mutual

funds and a primary dealer

-Wins a contract worth Rs 70 crore for construction of a 15-storied

hotel and service apartments for the Radissons Group, making its

entry into Bahrain

--Bank of Baroda signed a memorandum of understanding with L&T John

Deere Pvt Ltd to prop up farm sector lending.

-L&T with EIL inks pact with IOC for Iran pipeline project

-L&T Ties Up with US Cardiac Equipment Major Zoll Medical

Corporation, USA

-Larsen & Toubro (L&T) has won a contract for coal gasification

equipment from China valued at Rs 95 crore

-Cement division demerged, new company carved out in the name of

Ultra Tech CemCo, Grasim Industries Ltd. takes majority control in

Ultra Tech CemCo

-Engineering major Larsen & Toubro Ltd. has won an order worth $52.5

million from the United Arab Emirates to develop a platform in an oil

field in the Gulf

-Launches new 35 HP tractor

-L&T and BEL join hands to develop radar for Army

-Tata Steel and Larsen & Toubro (L&T) signs definitive agreement to

form a 50:50 joint venture for setting up a port at Dhamra in Orissa

on October 29,2004

-L&T join hands with Dubal to set up alumina plant

2005

- L&T John Deere Private Ltd launches 40 HP tractor 5103 models on

January 8, 2005,

-L&T join hands with Dubal to set up Rs 50000 mn alumina refinery

plant
-L&T bags Rs 1650 mn order for Water Supply System to Greater

Bangalore

-L&T exits Tractor Business

-L&T secures Rs 4950 mn contract for new Hyderabad Airport

-L&T receives contracts from Dubai-based firm

-L&T enters into MoU with DSL, Nashik for a merger of DSL with the

Company under a scheme to be approved by BIFR

2006

-L&T bags a Rs 440-crore order from Zadeko Ship Management CV

-L&T inks Joint Venture in Kuwait to expand construction prospects in

Gulf

-L&T Wins Rs 7500 mn BOT Highway Contract in Gujarat

-Mumbai: Larsen & Toubro has forged technological alliance with

Mitsubishi Heavy Industries for manufacture of equipment for mega

power projects being planned in the country.

-L&T Wins Rs 5400 crore Delhi Airport Contract.

-Larsen & Toubro has given the Bonus in the Ratio of 1:1

2007
-The Boeing Company on February 08, 2007 has signed a Memorandum of

Understanding (MoU) with the Larsen & Toubro Ltd , for the joint

exploration of business opportunities in India's defense sector.

-Larsen & Toubro Ltd (L&T) have signed on February 15, 2007, a

Memorandum of Understanding (MoU) with Dassault Syst�mes (DS), which

has head offices in France.

-Larsen & Toubro (L&T) will set up joint ventures with Japan's

Toshiba Corp and Mitsubishi Heavy Industries (MHI) to commission

manufacturing facilities for super-critical turbines and boilers,

which are used in coal-fired power generation plants.

- Larsen & Toubro Ltd (L&T) has announced that the Company has bagged

two orders valued at Rs 412 crores.

- L&T bags Rs 877 crore ONGC order.

- L&T bags Rs 114 crore order from SAIL.

- Larsen & Toubro Ltd (L&T) has informed that the Board of Directors

of the Company at its meeting held on July 03, 2007, has appointed

Mr. Subodh Bhargava as an Additional Director of the Company.

-Larsen & Toubro Ltd (L&T) has informed that the Board of Directors

of the Company at its meeting held on July 19, 2007, has appointed

Mrs. Bhagyam Ramani as a Nominee Director of the Company representing

equity interest of General Insurance Corporation of India with effect

from July 19, 2007 in the vacancy caused by the resignation of Mr. B

P Deshmukh.
- Larsen & Toubro Limited (L&T) has won a repeat order valued at over

$70 million for construction of two ships from RollDock BV of

Netherlands.The vessels will be built at the existing shipyard that

is a part of the engineering complex at Hazira, Surat.

-Larsen & Toubro Ltd (L&T) & Mitsubishi Heavy Industries Ltd (MHI)

have inked a Joint Venture Agreement for setting up a manufacturing

facility to supply super-critical Steam Turbine & Generator facility

in India.

2008

- Larsen & Toubro said that its electrical and electronics division

has got Rs 74.7-crore contract from the Oil and Natural Gas

Corporation for a SCADA system for onshore control centres (OCC).

-Larsen & Toubro Ltd (L&T) has appointed Mr. A K Jain has as an

Additional Director representing equity interest of the Specified

Undertaking of the Unit Trust of India (SUUTI) with effect from May

29, 2008.

- Larsen & Toubro Ltd has secured a Rs 1,557-crore order for supply

of a steam turbine generator of 2 x 800 MW to Sri Damodaram

Sanjeevaiah Thermal Power Station at Krishnapatnam, Andhra Pradesh.

-The Company has issued Bonus Shares in the Ratio of 1:1.

2009

- Larsen & Toubro has received a Rs 2,000-crore order from GMR Energy

for commissioning a 2x384 MW gas-based power plant at Vemagiri near

Rajahmundry, Andhra Pradesh.

- Larsen & Toubro's buildings and factories operating company, part

of its construction division, has bagged new orders aggregating Rs.

1513 crore for the construction of high rise tower, luxury hotel,

hospital and factory building projects from DB Hospitality, ITC

group, NBCC and Arshiya International.

- Larsen & Toubro (L&T) has secured the BoP contract valued at Rs

1635.30 crore from Madhya Pradesh Power Generation Co. Ltd, (MPPGCL)

for 2 x 600 MW MALWA Coal Fired Power Plant, The project was won

against stiff competition from domestic BoP bidders.

- Larsen & Toubro (L&T) is readying to cash in on the sunrise

sector-nuclear power as L&T will team up with the Nuclear Power

Corporation of India Limited (NPCIL) to make parts for atomic units.

- Larsen & Toubro's (L&T) Infrastructure Operating Company - a part

of its Construction Division (ECC), has secured one of the single

largest construction orders in India's Nuclear Power sector by

winning a contract valued at Rs. 844 Crores from Nuclear Power

Corporation of India Limited (NPCIL) for construction of the Main

Plant Civil works of Reactor 3&4 at Kakrapar Atomic Power Project,

Tapi (Gujarat).

2010

- Larsen & Toubro has secured orders worth Rs. 581 crore from

Powergen Infrastructure and Bangalore Water Supply and Sewerage Board

during the third quarter of 2009-10. According to a release, the

projects will be executed by the metallurgical, material handling and

water operating company of L&T construction division.

- Larsen & Toubro's Buildings and Factories Operating Company, part

of its construction division, has bagged new orders aggregating Rs.

2,325 crore during Q3 2009-10 for constructing of residential towers,

hospital, exhibition centre, IT Park and factory building projects.

- Larsen & Toubro (L&T), engineering major, on March 17 said it has

bagged a project worth Rs 1,013 crore from Oil & Natural Gas

Corporation (ONGC).The company has bagged the contract for four well

platforms for the Mumbai High North Re-development Project.

- Larsen & Toubro's (L&T) Buildings & Factories Operating Company -

part of its Construction Division - has bagged new orders aggregating

Rs.1500 crores recently for the construction of hospitals, residential

towers and factory buildings.

- Larsen & Toubro (L&T) has bagged a contract for the designing and

construction of 36 high speed interceptor boats worth Rs.970 crore

for the Indian Coast Guard.

- Larsen & Toubro yesterday bagged orders valued at Rs 1,500 crore

from various vendors in order to construct hospitals as well as

residential towers and factories.

- Larsen & Toubro Limited (L&T) and Rolls-Royce, the global power

systems company, have signed a memorandum of understanding (MoU) for

cooperation to effectively address the projected need for light water

reactors (LWR) in India and internationally.

2010
- Larsen & Toubro has won a critical offshore platform contract from

Gujarat State Petroleum Corporation (GSPC) valued at Rs. 1,060.

Besides the use of exotic materials to cater to demanding

requirements, L&T will be responsible for several novel aspects in

the survey, engineering, procurement, fabrication and installation of

the wellhead platform.

- Larsen & Toubro Ltd has informed BSE regarding a Press Release

dated June 22, 2010 titled L&T bags Rs. 827 Crore Orders for Thermal

Power Plant Construction.

- Larsen and Toubro�s (L&T) Thermal Power Plant Construction (TPPC)

Business Unit has bagged two orders worth Rs 827 crore. The company

bagged one order from GVK Power for their Gautami Combined Cycle

Power Plant Expansion and one from SEPCO-I for Talwandi Sabo Power

Plant in Punjab.

- L&T has bagged an important offshore rig refurbishment contract

from ONGC and the order is valued at Rs 376 crore ($83 million).

- The Andhra Pradesh government today decided to award the Rs 12,132

crore Hyderabad Metro Rail Project to Larsen and Toubro Limited

(L&T), which emerged as the lowest bidder.

- Larsen and Turbo (L&T) has bagged 2 projects worth Rs 1,195 crore

from ONGC.

- Larsen & Toubro Ltd wins INR 1,610 Cr order from Visa Power Ltd.

for 1200 MW Power Plant.

- Larsen & Toubro Ltd bags INR 700 Cr Orders from Water & Material

Handling Sectors.

- Larsen & Toubro has bagged a Rs.1,610-crore order from Visa Power,

a Visa Steel Group company, for its 2x600 MW power plant being set up

in Chhattisgarh.

2011

- L&T - L&T Bags Rs. 1103 Crore Orders in Railway Sector

- L&T - L&T bags New Orders worth Rs. 1181 Cr in Buildings &

Factories IC

- L&T - L&T MHI JV Inaugurates Twin Facilities for Power Equipment

Manufacture at Hazira, Surat

- L&T signed an MoU to invest Rs 15,000 crore in Gujarat in

infrastructure projects

- L&T - L&T and Kobe Steel signed Joint Venture for Tyre & Rubber

Industry Equipment

- L&T - Larsen & Toubro and CASSIDIAN join forces in India to forge a

long term partnership

- L&T bags over Rs 1100 cr Energy project

- L&T Mutual Fund launched a new scheme named as L&T FMP – III

(April 180D A).

- L&T - L&T bags Gas Based Power Plant EPC Order from PPN Power

2012

- Engineering and construction major Larsen and Toubro said it has

bagged new orders worth over Rs 2,056 crore across various business

segments during December 2011.

- Larsen & Toubro (L&T) today said that it has bagged Rs 1,937 crore

order for 4-laning of a major portion of Shivpuri-Dewas section of

NH-3 in Madhya Pradesh from GVK Group.

- L&T - L&T Construction Bags Orders Valued Rs. 1880 crore

- L&T - L&T Construction Bags Orders Valued Rs. 1306 Crore

- Engineering and construction giant Larsen & Toubro (L&T) today said

that its financial arm L&T Finance Holdings Limited (LTFH) has entered

into the housing finance business by acquiring Indo Pacific Housing

Finance Ltd (IPHF), a small sized housing finance company.

- L&T - L&T Construction bags Order Worth Rs. 1700 Cr

- Larsen &Toubro (L&T) and Samsung Techwin have joined hands to

cooperate in the Indian Army’s Tracked Self Propelled Artillery

programme.

- L&T and Nexter Systems join hands for Indian army artillery

programme

- L&T Mutual Fund launched a new close ended income scheme named L&T
FMP – VI (April90D A) with maturity time of 90 days.

- L&T Joint Venture firm bags contract from Sadara Chemical Company

- L&T Mutual Fund launched a new close ended income scheme named L&T

FMP – VI (May91D A) with maturity time of 91 days.

- L&T - L&T Construction Secures Orders Valued Over Rs 2592 Crore

- L&T - L&T Construction Secures Orders Valued over Rs. 2040 Crore

- L&T & Its construction arm bags new orders worth Rs 2008 cr

- L&T - L&T Wins Rs. 749 Crore Contract from ONGC for 4 Wellhead

Platforms

- L&T - L&T Wins Prestigious Order for Manufacture of Cryostat for

International Fusion Energy Project

- L&T - L&T led Joint Venture wins Rs. 1252 Cr Delhi Metro Contract

- Larsen & Toubro bags $250mn EPC contract in Ras Laffan, Qatar

L&T bags Rs 781 cr contract from ONGC

2013

-L&T Among India�s Top 5 Most Respected Companies - Businessworld

-L&T Scores High in Global 500 Climate Change Report 2013

-Finance Minister Presents L&T The Economic Times Good Corporate

Citizen Award

- L&T Completes Acquisition of Audco India Ltd

-L&T IDPL bags Rs. 1293 crore road project in Odisha

-L&T Group Company Wins Saudi Aramco Contract

-Larsen & Toubro has announces bonus in the ratio of 1:2

2014

-L&T Ranked Asia�s 2nd Most Sustainable Company in Industrial Sector

-L&T Technology Services Wins Frost & Sullivan Excellence Award

-L&T Wins Golden Peacock Award for Excellence in Corporate

Governance

-L&T Power Wins National Energy Conservation Award

-L&T Wins ICICI Foundation-CNBC TV 18 �Inclusive India� Award

-L&T Construction Wins Rs.1630 Crores Expressway Project in Uttar

Pradesh

- L & T Bags USD 480 Million EPC orders in Bangladesh for Two Gas

Based

-L&T Wins Saudi Aramco Contract

-L&T Wins Rs 5100 Crore Supercritical Power Plant Order from MP State

Utility

-L&T Construction Wins Rs. 4510 Crs Doha Metro Project

2015

-L&T Wins Golden Peacock Award for Risk Management� for 2015

-L&T Award for Excellence in Power Project Execution from the Central

Board

-Good Corporate Citizen Award

-L&T Construction Commissions India's first 765kV Gas Insulated

Substation

-L&T secures Rs 5,580 cr power plant order from NTPC

-L&T Signs MoU with AREVA for Jaitapur Nuclear Power Project
-L&T opens new service centre in Nagpur

2016

-L&T Construction Wins Orders Valued Rs. 2871 Crores

-L&T ties up with McDermott Intl for Emerging Deepwater Market in

India

-L&T Construction bags orders worth Rs 2213 crores

-L&T bags order worth Rs 3205 cr across various businesses

-L&T signs contract to build stadium in Qatar for FIFA World Cup

-L&T gains on bagging Rs 2,416 cr construction orders

-L&T achieves synchronization of power project

-L&T signs agreement with Chiyoda Corporation

-L&T Technology Services is IACC �Company of the Year�

-L&T Construction Signs Contract with Maharashtra Government for

Nagpur Smart City Project

-L&T Construction wins a Major Railway Order valued Rs. 3799 Crores

-L&T Bags Major Order from Vietnam Border Guard for High Speed Patrol

Vessels

-L&T JV Wins Rs. 3115 Cr Bihar New Ganga Bridge Project

2017

-L&T Construction Wins Orders Valued 2170 Crores.

- L&T Construction Wins Orders Valued Rs.2170 Crores.

-L&T Wins Contract Valued Around Rs 1700 Cr. to Build Crude Oil

Pipeline from KOC Kuwait.

-L&T Hydrocarbon Engineering Wins around 1150 Cr (177 Million USD)

Contract from ONGC

-L&T Construction Wins Orders Valued Rs. 2525 Crores.

-L&T Construction Wins Orders Valued Rs.1600 Crore.

-L&T commissions 225 MW Sikalbaha Combined Cycle Power Plant in

Bangladesh.
-L&T Hydrocarbon Engineering Signs 5-year Framework Agreement with

Shell for Engineering, Procurement & Construction Management

Services.

-L&T Acquisition of partner's stake in L&T Cassidian Limited a JV

Company.

-Larsen & Toubro and MBDA establish Joint Venture for development of

sophisticated missile systems

-L&T Hydrocarbon Bags Orders Worth Around 4000 Crores.

-L&T Again Plays Critical Role in ISRO's Record Mission of Launching

104 Satellites.

-L&T Electrical & Automation FZE Wins Rs. 500 crore Order From Qatar

Rail Company.

-L&T Construction Wins Orders Valued Rs.3572 Crore.

-L&T Hydrocarbon Engineering Wins Rs. 1100 Crore Order for Indmax

Project from Indian Oil Corporation

-L&T Hydrocarbon Engineering Led Consortium Secures Two More Awards

From Saudi Aramco.

-L&T Bags EPC Order for 400 MW Gas Based Power Plant in Bangladesh.

-L&T Hydrocarbon Engineering Signs Agreement with Institute of

Chemical Technology to Build Second Generation Ethanol Plants

-L&T launches Navy s Floating Dock Reaffirms capabilities to deliver

Defence projects on time

-L&T won the prestigious �Best Capital Projects & Infrastructure Risk

Management Award�

-L&T Power has won the prestigious �FICCI Quality Systems Excellence

Awards for Industry 2017 - Platinum (First) Prize in Construction

Sector�
LARSEN & TOUBRO LTD. (LT) - COMPANY HISTORY
Larsen & Toubro is a major technology engineering construction manufacturing and
financial services conglomerate with global operations. The company is one of the
largest and most respected companies in India's private sector. The company
operates in three segments Engineering & Construction Segment Electrical &
Electronics segment Machinery & Industrial Products and others. The company's
Engineering Construction & Contracts Division (ECCD) undertakes engineering
design and construction of infrastructure buildings factories water supply and
metallurgical & material handling projects covering civil mechanical electrical and
instrumentation engineering disciplines. Their Engineering & Construction Division
designs engineering and executes projects for hydrocarbon sector with front-end
design. Its heavy engineering division is organized into two independent companies:
Heavy Engineering Independent Company and Ship Building Independent Company.
Their Electrical & Electronics division comprises Electrical and Automation
Independent Company and Medical Equipment and Systems 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. The
company's businesses are supported by a wide marketing and distribution network
and have established a reputation for strong customer support. Larsen & Toubro Ltd
was incorporated in the year 1946 as a private limited company. Earlier the company
was established as a partnership firm founded by two Danish engineers Henning
Holk Larsen with Soren Kristian Toubro im Mumbai. In December 1950 the company
became a Public Company with a paid-up capital of Rs.2 million. They executed
prestigious orders during this period which includes the Amul Dairy at Anand and
Blast Furnaces at Rourkela Steel Plant.During the year 1981-82 the company
acquired 2 bulk shipping carriers from Japan. During the year 1983-84 they started
one cement plant with capacity of 1 MTPA at Maharashtra. In the year 1997 the
company formed a joint venture company with Deere Pvt Ltd to manufacture
agricultural tractors namely L&T-John Deere Pvt Ltd. In April 1 2003 the company
transferred their cement business to Ultra Tech Cement Ltd. The company received
a host of awards medals and trophies for their continuous efforts. They received
Environmental Excellence Gold award from Greentech Foundation during the years
2003-04 and 2004-05. Engineering Export Promotion Council (EEPC) offered a
trophy for high exports. The Ministry of Power conferred the first prize in National
Energy Conservation for the year 2005.In July 2005 the company approved the
divestment of their stake in L&T-John Deere Pvt Ltd. In August 2005 the company
entered into a MoU with DatarSwitchgear Ltd (DSL) to merger the company with
L&T. As on October 2005 the company totally exited from the packaging business by
sale of their Glass Containers Business to ACE Glass. In the year 2006 the company
amalgamated two of their own folds the L&T Power Investments Pvt Ltd (LTPL)
amalgamated with India Infrastructure Developers Ltd (IIDL).During the year 2006-
07 A Wall Street Journal survey featured L & T among Asia's 'Most Admired
Companies' and ranked the company No.1 for quality of products and for overall
reputation. In April 2007 the company and theirs associate Audco India Ltd (AIL)
invested Rs 35 crore in the Coimbatore (TN) switchboard and valve unit. Larsen &
Toubro made a tie up with Japan's Toshiba Corporation and Mitsubishi Heavy
Industries for setting up manufacturing facilities for super-critical turbines and
boilers used in coal-fired power generation plants. During the year 2008-09 the
company transferred their entire 100% stake in L&T Infrastructure Finance Company
Ltd L&T Finance Ltd and India Infrastructure Developers Ltd to L&T Capital Holdings
Ltd (LTCHL). In March 31 2009 the company acquired 50% stake in L&T-Demag
Plastics Machinery Ltd from the joint venture partner Sumitomo (SHI) Demag
Plastics Machinery GmbH. Accordingly L&T-Demag Plastics Machinery Ltd became a
wholly owned subsidiary of the company with effect from March 31 2009.In April
2010 the company and Rolls-Royce the global power systems company signed an
MoU for cooperation to effectively address the projected need for light water
reactors in India and internationally. Also the company won a critical offshore
platform contract from Gujarat State Petroleum Corporation (GSPC) valued at Rs
1060 crore. In May 2010 the company and Howden signed a joint venture to design
engineer manufacture and supply axial fans and air preheaters to Indian thermal
power plants ranging between 100 MW to 1200 MW. The joint venture will invest
around Rs 100 crore for setting up of the industrial facility and related infrastructure.
The manufacturing unit will be setup in Hazira Gujarat. In June 2010 the company
secured orders aggregating Rs 747 crore from various customers like Coal India
Indiabulls Power Ltd and Hindalco Industries Ltd. Also they secured orders
aggregating to Rs 1440 crore for the construction of residential towers township and
factory building. The Thermal Power Plant Construction business unit secured two
orders aggregating Rs 827 crore from GVK Power for their Gautami Combined Cycle
Power Plant Expansion and from SEPCO-I for Talwandi Sabo Power Plant in
Punjab.In July 2010 the company won an offshore rig refurbishment contract from
Oil and Natural Gas Corporation valued at Rs 376 crore. In August 2010 the
company's Building & Factories Operating Company (B&F-OC) secured orders
aggregating to Rs 10.25 billion for the construction of two hospital building
residential projects in Mumbai and a cement plant from a major cement
manufacturer. Also the company received two projects worth Rs 1195 crore from
ONGC to set up additional processing units at its gas processing complexes at Hazira
and Uran. In September 2010 the company and Befula Investments (South Africa)
signed a shareholders agreement to incorporate Larsen & Toubro T&D SA (Pty) Ltd
in South Africa to capitalize on the power transmission and distribution opportunities
in South Africa.In October 2010 the company received an order valued at Rs 1449
crore from DB Power Ltd promoted by the Bhaskar Group. In December 2010 they
secured two orders amounting Rs 415 crore from Hindalco and Sepco-I. The
Hindalco order worth Rs 253 crores is for carrying out structural steel works for the
6x150 MW captive power plant in Orissa. The Sepco-I order valued at Rs 162 crore
is for the erection of boilers for their 2x660 MW Talwandi Sabo Power plant
developed by Sterlite Energy Ltd in Punjab.In January 2011 the company secured
orders aggregating Rs 1103 crore from various power plant developers for
construction of merry go round systems construction of dedicated railway lines to
link power plant sites to the main line rail network. The company and Kobe Steel Ltd
entered into a joint venture (JV) for the manufacture of internal mixers and twin
screw rollerhead extruders for the tyre & rubber industry for global markets
including India. The JV aims to provide customers with products for the tyre
industry. In February 2011 the company secured an order valued over Rs 1100 crore
from Gujarat State Electricity Corporation Ltd (GSECL) a government of Gujarat
company to set up a 1 x 375 MW gas based power plant at Dhuvaran near Baroda in
Gujarat on EPC basis.In May 2011 the company received an order valued over Rs
3500 crore from PPN Power Generating Company Ltd based in Chennai for setting
up a 3 x 360 MW gas based power plant at Village Pillaiperumalnallur in
Nagpattinam District of Tamil Nadu State on EPC basis. They won a process platform
contract from Gujarat State Corporation (GSPC) valued at Rs 14.50 billion. In July
2011 the company bagged a major international EPC order valued at Rs 1210 crore
from Qatar General Electricity & Water Corporation (KAHRAMAA) for supply and
construction of thirteen extra high voltage (EHV) substations in Qatar.In August
2011 the company bagged international orders valued at USD 889 million in the
hydrocarbon sector. One order is from Abu Dhabi Gas Industries Limited (GASCO)
for its Habshan-Ruwais-Shuweihat (52'/48' dia) Gas Pipeline Project. Valued at
around USD 189 million it involves EPC installation & commissioning of 123 KM of
the pipeline to be commissioned in 24 to 26 months. The other order is a USD 450
million EPCI project awarded to L&T Hydrocarbon's Upstream Business Group from
ADMA-OPCO a subsidiary of ADNOC and a major producer of Oil & Gas for the
UAE.In August 2011 the company secured new orders worth Rs 1340 crore in the
Building & Factories segment for the construction of commercial & residential
buildings including add-on orders from ongoing projects. In September 2011 they
received a project order valued around Rs 700 crore from the Petroleum
Development Oman LLC (PDO). The order is for setting up a green field project
planned to treat an average of 3 MMSCMD of gas. In November 2011 they bagged
new orders worth Rs 1629 crore in the building and factories segment.In December
2011 the company bagged a major order valued at Rs 21.64 billion in their
Infrastructure Segment from GMR Infrastructure. The order is for construction of
stretches consisting of six laning of Kishangarh Udaipur Ahmedabad Highway. The
development would be executed on EPC (Engineering Procurement & Construction)
basis.In 2012 Larsen and Toubro's financial arm L&T Finance Holdings Limited
(LTFH) has entered into the housing finance business by acquiring Indo Pacific
Housing Finance Ltd (IPHF) a small sized housing finance company. Larsen & Toubro
(L&T) also bagged Rs 1937 crore order for 4-laning of a major portion of Shivpuri-
Dewas section of NH-3 in Madhya Pradesh from GVK Group. The company and
Samsung Techwin have joined hands to cooperate in the Indian Army's Tracked Self
Propelled Artillery programme. L&T and Nexter Systems join hands for Indian army
artillery programme. L&T Joint Venture firm bags contract from Sadara Chemical
Company. L&T Construction Secures Orders Valued at over Rs 2592 Crore Rs 2040
crores and Rs 2008 crore from various business segments. L&T Wins Rs. 749 Crore
Contract from ONGC for 4 Wellhead Platforms. L&T Wins Prestigious Order for
Manufacture of Cryostat for International Fusion Energy Project. L&T led Joint
Venture wins Rs. 1252 Cr Delhi Metro Contract. Larsen & Toubro bags $250mn EPC
contract in Ras Laffan Qatar. L&T bags Rs 781 cr contract from ONGC In 2013 L&T
Completes Acquisition of Audco India Ltd. L&T IDPL bags Rs. 1293 crore road
project in Odisha. L&T Group Company Wins Saudi Aramco Contract. L&T Ranked
Asia's 2nd Most Sustainable Company in Industrial Sector. L&T Technology Services
Wins Frost & Sullivan Excellence Award. L&T Wins Golden Peacock Award for
Excellence in Corporate Governance. L&T Power Wins National Energy Conservation
Award. L&T Wins ICICI Foundation-CNBC TV 18 `Inclusive India' Award. L&T
Construction also Wins Rs.1630 Crores Expressway Project in Uttar Pradesh. L&T
Wins Saudi Aramco Contract. L&T Wins Rs 5100 Crore Supercritical Power Plant
Order from MP State Utility. L&T Construction Wins Rs. 4510 Crs Doha Metro Project
In 2015 L&T Won Golden Peacock Award for Risk Management' Award for Excellence
in Power Project Execution from the Central Board and Good Corporate Citizen
Award. L&T Construction Commissions India's first 765kV Gas Insulated Substation.
L&T secures Rs 5580 cr power plant order from NTPC. L&T also Signs MoU with
AREVA for Jaitapur Nuclear Power Project. L&T opens new service centre in Nagpur.
At the time of announcement of Q4 March 2015 results on 30 May 2015 L&T said
that the company's consolidated order inflow surged 39% on year-on-year basis at
Rs 47582 crore in Q4 March 2015. On 3 July 2015 L&T announced that it has
successfully flagged off India's first Nuclear 700 MWe Steam Generator for Kakrapar
nuclear power plant in Gujarat. At the time of announcement of Q1 June 2015
results on 31 July 2015 L&T said that the company won new orders worth Rs 26376
crore at consolidated level in Q1 June 2015.On 21 September 2015 Larsen & Toubro
announced that it has sold 8.52 crore equity shares of its subsidiary L&T Finance
Holdings representing 4.95% stake in the company on the National Stock Exchange
at Rs 70 per share. At the time of announcement of Q2 September 2015 results on
30 October 2015 L&T said that the company won new orders worth Rs 28620 crore
at consolidated level in Q2 September 2015.On 9 November 2015 Larsen & Toubro
announced that it has entered into an in-principle agreement for strategic sale of
Kattupalli port in Tamil Nadu to Adani Kattupalli Ports Private Limited (AKPPL) a
subsidiary of Adani Ports and Special Economic Zone (APSEZ). At the time of
announcement of Q3 December 2015 results on 29 January 2016 L&T said that the
company won new orders worth Rs 38528 crore at consolidated level in Q3
December 2015.On 25 February 2016 L&T announced that its fully-owned subsidiary
L&T Hydrocarbon Engineering Limited (LTHE) has signed a long-term agreement
with McDermott International focused on subsea projects in deepwater segment
emerging on the east coast of India. Under the agreement LTHE and McDermott will
develop a cost-effective approach which will utilize LTHE's state-of-the-art
strategically located Kattupalli facility near Chennai. It will be used for fabrication
and setting up of a local spool base in India.On 31 March 2016 L&T announced that
it has sold its entire 89% stake in L&T Infocity Limited to Ace Urban Developers for
total consideration of Rs 191 crore. L&T had promoted L&T Infocity Limited as a
special purpose vehicle (SPV) in 1997 in partnership with Andhra Pradesh
Infrastructure Investment Corporation to develop IT infrastructure in Andhra
Pradesh. At the time of announcement of Q4 March 2016 results on 25 May 2016
L&T said that the company won new orders worth Rs 43334 crore at consolidated
level in Q4 March 2016.On 31 May 2016 L&T's wholly-owned subsidiary L&T
Hydrocarbon Engineering (LTHE) announced a teaming agreement with Parsons
Corporation to provide engineering and design solutions for onshore and offshore
projects across the hydrocarbon fertilizer chemicals and modular plant sectors. On
15 July 2016 L&T announced that it has decided to participate in the offer for sale of
equity shares by way of initial public offering by its subsidiary L&T Technology
Services. L&T proposes to sell up to 15% of the equity shares held in L&T
Technology Services through the offer.At the time of announcement of Q1 June
2016 results on 29 July 2016 L&T said that the company's consolidated order inflow
rose 14% on year-on-year basis at Rs 29702 crore in Q1 June 2016. On 26 August
2016 L&T Group Chairman A.M. Naik said at the 71st Annual General Meeting of the
company that L&T plans to achieve revenue of Rs 2 lakh crore (USD 30 billion at the
prevailing exchange rates) by 2021 without compromising on profit margins and
achieving an order inflow in excess of Rs 2.5 lakh crore per annum.On 22 September
2016 Larsen & Toubro announced that it has won an order worth USD 99.7 million
from Vietnam Border Guard for design and construction of high speed patrol vessels
in India as well as for transfer of design and technology along with supply of
equipment and material kits for construction of follow-on vessels at a Vietnam
shipyard. It is the biggest export order given to a private Indian Shipyard till date.
On 4 October 2016 Larsen & Toubro announced that it has achieved synchronisation
of the first 660 MW supercritical unit (Unit-5) of the 2x660 MW supercritical thermal
power project at Chhabra in Rajasthan in record time of 42 months and four days
from the date of Notice to Proceed. On 14 October 2016 L&T announced that a
consortium of the company and Sojitz Corp. Japan has won a major order worth Rs
3799 crore from the Dedicated Freight Corridor Corporation of India Ltd. (DFCCIL).
This Design and Build Integrated Package involves the construction of Civil
(Embankment Structure Tunnel) Track Works Overhead Electrification Traction
Substations and Signaling & Telecommunication Works for double line electrified
tracks with 2x25 kV AC high rise Overhead Catenary System capable of operating at
a maximum train speed of 100 Km/h from Rewari to Dadri (128 Km). On 20 October
2016 L&T announced the signing of a formal contract with the Department of
Information & Technology Maharashtra Government under which Nagpur will be
converted into the country's first large-scale integrated Smart City. L&T-MHPS
Boilers Private Limited (LMB) a joint venture of Larsen & Toubro Limited (L&T) and
Mitsubishi Hitachi Power Systems Limited (MHPS) Japan signed a Technology
Licence Agreement with MHPS on 7 November 2016 for Selective Catalytic Reduction
(SCR) systems. The technology licensing agreement is for design engineering
manufacture installation commissioning and sale of new boilers under BTG EPC or
SG packages or standalone SCR systems and for existing and under construction
boilers on exclusive basis in India. On 8 November 2016 L&T announced that it has
signed a long-term technical licence agreement with Chiyoda Corporation Japan for
its Flue Gas Desulphurisation (FGD) technology. The agreement grants L&T exclusive
rights to undertake EPC of CT-121TM FGD Systems. At the time of announcement of
Q2 September 2016 results on 22 November 2016 L&T said that the company's
consolidated order inflow rose 11% on year-on-year basis at Rs 31119 crore in Q2
September 2016. On 2 January 2017 L&T announced that it has bagged a project
from Pune Municipal Corporation to convert Pune into a smart city as a part of
Government of India's Smart City Mission. On the same day L&T announced that its
fully owned subsidiary L&T Hydrocarbon Engineering in consortium with EMAS
CHIYODA Subsea has won two awards involving Engineering Procurement
Construction and Installation contracts from Saudi Arabian oil giant and biggest oil
company in world Saudi Aramco.On 13 February 2017 L&T announced that the
company has formed a joint venture with MBDA a world leader in missile systems to
develop and supply missiles and missile systems to meet the growing potential
requirements of the Indian armed forces. L&T will own 51% of the new joint venture
company with MBDA owning the remaining 49% stake.On 25 February 2017 L&T
announced that its wholly owned subsidiary L&T Hydrocarbon Engineering (LTHE)
has bagged an onshore EPC contract worth around Rs 1100 crore from Indian Oil
Corporation Limited (IOCL) for setting up a 0.740 MMTPA Fluidised Cracking Unit
(FCC) including LPG Treatment Facility at IOCL's Bongaigaon refinery in Assam. On
28 February 2017 L&T announced that its wholly-owned subsidiary L&T Hydrocarbon
Engineering (LTHE) has signed an Enterprise Framework Agreement (EFA) with Shell
Global Solutions International B.V. for providing Engineering Procurement and
Construction Management (EPCM) services for Shell projects in the Middle East
South East Asia and India. The EFA is for a period of five years.On 20 March 2017
L&T announced that its wholly-owned subsidiary L&T Hydrocarbon Engineering
Limited (LTHE) has bagged an offshore contract valued at Rs 1656 crore for the
Neelam Re-Development & B173AC Project from Oil & Natural Gas Corporation
(ONGC). On 28 March 2017 L&T announced that the Buildings & Factories Business
of L&T Construction has bagged a major design & build order worth Rs 2903 crore
to re-develop Mumbai's century-old BDD Chawls for Maharashtra Housing and Area
Development Authority (MHADA). On 30 March 2017 L&T announced that its wholly-
owned subsidiary L&T Hydrocarbon Engineering Limited has bagged orders totalling
close to Rs 4000 crore in the International market. On 7 April 2017 L&T announced
that it has commissioned gas turbines in open cycle for two large gas-based power
projects in Bangladesh in quick succession during March 2017.On 21 April 2017
Larsen & Toubro and Hanwha Techwin (HTW) of South Korea signed a contract for
execution of the 155mm/ 52 Cal Tracked Self Propelled (SP) gun program for the
Indian Army. On 12 May 2017 Larsen & Toubro announced that it has won a
contract worth Rs 4500 crore for supply of 100 units of 155mm/ 52 calibre Tracked
Self-Propelled gun systems to the Indian Army. It is the largest private sector
defence order for artillery guns. On 26 May 2017 L&T announced that its wholly-
owned subsidiary L&T Hydrocarbon Engineering (LTHE) has signed a Memorandum
of Agreement (MOA) with Institute of Chemical Technology (ICT) to build ethanol
plants based on the fully indigenous technology developed by ICT for producing
Second Generation Ethanol. At the time of announcement of Q4 March 2017 results
on 29 May 2017 L&T said its consolidated order inflow rose 9.6% on year-on-year
basis to Rs 47289 crore in Q4 March 2017. On 20 June 2017 Larsen & Toubro
announced the launch of a Floating Dock (FDN-2) designed and built for the Indian
Navy at the company's greenfield shipyard at Kattupalli near Chennai. This marks a
significant achievement for L&T's Shipbuilding arm in Design Construction and
Project Management of Defence Vessels. At the time of announcement of Q1 June
2017 results on 28 July 2017 L&T said that the company won new orders worth Rs
26352 crore at consolidated level in Q1 June 2017 in a challenging business
environment. On 2 August 2017 Larsen & Toubro announced the bagging of a Rs
3375-crore major breakthrough order from Metro Express Limited which is owned by
the Government of Mauritius to design and build an Integrated Light Rail-based
Urban Transit System in Mauritius. The project will be fully funded through a
Government of India grant and Line of Credit.On 16 August 2017 L&T announced
that it entered into a definitive agreement for the divestment of its entire stake in its
wholly-owned subsidiary L&T Cutting Tools Limited to IMC International
Metalworking Companies B.V a company owned by Berkshire Hathaway Inc. for a
total consideration of Rs 174.04 crore. On 2 September 2017 L&T announced that its
subsidiary Infrastructure Development Projects Limited (L&T IDPL) has filed an
application with Securities and Exchange Board of India for registration of its
proposed infrastructure investment trust named IndInfravit Trust.On 3 October 2017
Larsen & Toubro announced that it has completed the purchase of the entire
remaining 26% stake held by Airbus Defence and Space GmbH (earlier known as
EADS Deutschland GmbH) in L&T Cassidian a joint venture between Larsen &
Toubro and Airbus Defence and Space GmbH.At the time of announcement of Q2
September 2017 results on 11 November 2017 L&T said that the company won new
orders worth Rs 28732 crore at consolidated level in Q2 September 2017 amidst
subdued business environment policy uncertainties and delayed implementation. On
1 January 2018 L&T announced that its wholly owned subsidiary L&T Hydrocarbon
Engineering Limited (LTHE) has secured a major EPC contract for Crude Distillation
and Vacuum Distillation Unit (CDU & VDU) from Hindustan Petroleum Corporation
Limited Visakhapatnam Refinery and an extension to an ongoing contract for
Reliance Industries Jamnagar both adding to about Rs 2100 crore. On 2 January
2017 L&T announced that its construction division has won orders worth Rs 1454
crore across various business segments.On 5 January 2018 L&T announced that its
wholly-owned subsidiary L&T Hydrocarbon Engineering Limited (LTHE) has secured
an offshore contract for `Bassein Development 3 Well Platform & Pipeline Project'
from Oil & Natural Gas Corporation (ONGC). The order is valued at approximately Rs
1483 crore. On 8 January 2018 L&T announced the Transportation Infrastructure
and Water & Effluent Treatment businesses of L&T Construction have jointly bagged
three EPC orders worth Rs 2265 crore from Andhra Pradesh Capital Region
Development Authority (APCRDA).At the time of announcement of Q3 December
2017 results on 31 January 2018 L&T said its consolidated order inflow jumped 38%
on year-on-year basis to Rs 48130 crore in Q3 December 2017. Consolidated order
book of the group stood at Rs 270727 crore as on 31 December 2017. The
international order book constituted 25% of the total order book.The board of
directors of the company at a meeting held on 31 January 2018 approved
subscription to equity shares offered by its subsidiary L&T Finance Holdings (LTFH)
on a preferential basis up to an amount not exceeding Rs 2000 crore subject to
necessary approvals including the approval of board of directors and shareholders of
LTFH. The exact amount of the subscription would depend on the preferential issue
that LTFH would be making to L&T.
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