1.
History of L&T { linkedin and Wikipedia}
The L&T story goes back to the years before the Second World War. Two Danish citizens
who arrived on Indian shores in 1934 started this venture. One of them was Henning
Holck-Larsen, a chemical engineer specializing in cement technology. The other was
Soren Kristian Toubro, a civil engineer. They both met up while working for a danish
company in india and coincidentally were also friends since their college days. When the
Second World War broke out in 1938, both danes decided not to return back home
due to the occupation of Denmark by Nazi Germany. They decided to stay back, and
with the very little money that they had they started a partnership fiem with mr desai
an Indian citizen. A table and a chair in a small room, this was L&T's first office in
mumbai. Initially, the company didn't have a lot of money, so one person sat in the
office doing bills and making phone calls, while the other went out trying to find new
business for the firm. This is the beginning of the L&T’s story. To understand what they
could contribute to India, Larsen & Toubro explored the country’s needs. In the days of
war, there was need for ship repairs, besides a runway for planes to land at Santacruz in
Bombay. These were among the first projects taken up. After the war ended in 1945, they
realized that soon India would become politically independent, and their firm would get a
lot of business. So from a partnership firm, L&T became a private limited company with
some more shareholders joining them. The new company prudently maintained books of
accounts, focused on transparency, and worked towards profitability by serving India,
mainly Bombay. In 1944, L&T ventured to become a construction company. Since
construction was a risky business, with limited certainty of profits due to long gestation
period of projects, Larsen and Toubro felt that the construction business should be run by
a subsidiary company which is 100 per cent held by L&T. The principle of this subsidiary
company was to take and manage risks. However, in case of an inadvertent outcome,
they didn’t want the main business to be impacted. But to their advantage, the firm
started growing really fast, and in 1944, Engineering Construction Corporation (ECC)
was incorporated. It became a private limited company in 1946. Larsen, Toubro, Erick
Mogensen (Chief of FLS and Danish Consul in India) and S. Rudinger (FLS nominee
employed by India Cements Limited) invested Rs 10,000 each to promote ECC. The four
of them knew each other since college days, and had started their careers together.
Western Railway, Bombay Municipal Corporation and ACC became their first clients. In
1948, the parent firm L&T became a limited company and got listed on BSE in
1952. Larsen & Toubro’s idea was that ECC would focus on construction of cement
plants, steel plants, power plants, and fertilizer plants to support indigenous
manufacturing in India and meet the requirements of a nascent nation. L&T would build
those factories, import essential technology, and develop a profitable business. They
were inspired by the European model of manufacturing and selling heavy machinery and
specialized equipment. By the end of the millennium L&T was the only turnkey service
provider.
In 1965, L&T was selected as the partner to build a nuclear reactor in India. Dr. Homi
Bhabha, the then chairman of the Atomic Energy Commission (AEC), first came into
contact with L&T in the 1950s with the goal of manufacturing key components of
nuclear reactors. He specifically contacted Holck-Larson who was his friend and who
has the same artistic interest that the company can indeed do it and thus must do it.
Since then, L&T has made significant contributions to India's nuclear program. A
junior engineer once asked Holck-Larsen about why L&T built nuclear power plants
when its American and German counterparts suffered losses in building nuclear
power plants. He replied: "Young man, India has to build nuclear power plants. If its
not L&T, then who would do it?
In the 1970s, L&T was hired to cooperate with the Indian Space Research
Organization (ISRO). The then President Vikram Sarabhai chose L&T as its
manufacturing partner. When India started its space program in 1972, L&T was invited
to participate.
L&T’s Aerospace business manufactures equipment and systems for the aviation and
space industry, and has contributed to ISRO's Chandrayaan-2 and Mars
Orbiter missions.
2. Construction arm (globalcement.com)
More than seven decades of a robust, customer-focused approach and a never-ending
pursuit of world-class quality have allowed L&T to achieve and maintain leadership in all of
its key business lines. L&T's construction arm, L&T construction, is India's biggest
construction group. It has received high marks in a number of worldwide contractor reviews,
including a fourth-place ranking in a Newsweek list of "green" companies and a ninth-place
ranking in Forbes International's list of the world's most innovative companies. In December
2012, it was also named Infrastructure Company of the Year at the EPC World Awards. L&T
Construction's experienced filled abilities cover each order of development, be it civil,
mechanical, electrical or instrumentation designing just as administrations reaching out to
enormous modern and foundation projects from idea to appointing. It has assumed a
conspicuous part in India's modern and framework improvement by executing a few tasks
across the length and broadness of the country and around the world.
L&T's Project Management skill has over and again showed its capacity to convey projects,
considerably under basic conditions and severe courses of events. Its exclusive expectations
of polished skill with its customers have assisted it with prevailing upon numerous tough
spots that would have in any case caused bottlenecks in execution and fruitful charging.
L&T Construction's experienced filled abilities cover each order of development, be it civil,
mechanical, electrical or instrumentation designing just as administrations reaching out to
enormous modern and foundation projects from idea to appointing. It has assumed a
conspicuous part in India's modern and framework improvement by executing a few tasks
across the length and broadness of the country and around the world.
Advancements and development approach
To oblige the erection movement inside the tough time timetables of the concrete business,
L&T executed certain developments and new advancements during development to upgrade
profitability. Numerous benefits by the fruitful execution of the new measures at Vicat Sagar
have persuaded L&T to utilize the innovations for other new and impending concrete plant
projects also.
1.) Pole Climbing Framework for storehouse post tensioning: The standard practice for
storehouse post tensioning focusing on works incorporates the utilization of organizing
and side pinnacle course of action. This standard practice includes development of work
and post tensioning gear to a stature of around 50–60m, a difficult and tedious cycle.
Moreover, work efficiency is low, inferable from broad framework game plans and in the
development of transitory stages.
Consequently, another activity for the storehouse post tensioning was taken up. A Pole
Climbing Framework was accommodated continuous and smooth admittance to the
focusing on areas at the two sides of the ribs. In this game plan, a rack-and-pinion
framework was collected, alongside a working stage to empower development of the
working stage to the full tallness of the storehouse. This added to higher work efficiency,
lessening the costs identified with framework and extra labor activation.
2.) Advanced utilization of plant and hardware: L&T has reliably used pinnacle cranes for
gear erection at raised levels. The 165m-high preheater, which is the tallest design in the
plant, was the correct area for viably using tower cranes for hardware erection. This
empowered consummation of preheater mechanical erection in a brief timeframe range.
To accomplish the courses of events, careful miniature level arranging was performed
which spread out exercises directly from the establishment stage to charging.
Two pinnacle cranes, one 25t crane for mechanical erection and another 16t crane for
common works, were sent right from the start of the task, which has helped in
accomplishing the advancement of both the common and mechanical exercises. The
pinnacle cranes situated at the preheater likewise obliged the erection of different
constructions in the crude factory and coal plant building. In this way, hardware in the
adjoining structures was likewise raised inside a brief timeframe guaranteeing successful
and ideal use of plant and apparatus assets.
3.) Equal advancement of both common and mechanical works in the preheater: In the
preheater, mechanical erection leeway will be given solely after finishing of de-arranging
and de-covering of the piece. This system was being followed for every one of the pieces
in the preheater, prompting a deferral in starting the mechanical erection exercises.
Considering the time sway this strategy has on the venture plans, the L&T formwork
configuration group arranged a definite organizing and covering plan where the twisters
are raised before the organizing works begins for the following piece. Ensuing section
organizing was finished utilizing L&T's hard core towers around the twisters where the
primary individuals are utilized for supporting the whole chunk covering plan.
This organizing game plan has a more modest impression in the lower section where the
tornado erection is completed. This strategy has yielded significant decreases on schedule
and work. To carry out this new framework L&T's formwork group made a nitty gritty
execution plan considering laborers' wellbeing and other execution issues.
4.) Slip-structure point section for clinker storehouse ring bar: The standard practice for
projecting the ring pillar in a clinker storehouse is by platform. This request covering and
de-covering works that are extremely work serious as well as require a broad lead time.
Another method utilizing slip-structure point section for the ring pillar was started to
reduce down the gigantic expenses brought about in activating these assets. The use of a
crane encouraged automated development and diminished expenses.
5.) Computerization in creation yard: The idea of the dirt and ordinary precipitation
discouraged crane and apparatus development inside the plant during development. L&T
accordingly executed miniature intending to empower greatest creation inside the yard
premises and altered the plant and apparatus to suit the neighborhood soil conditions.
An advanced gantry crane was introduced, like that in a processing plant, to acquire the
necessary yield on schedule and simple development of crude just as completed material
on location. The set-up was on a standard with any independent processing plant
arrangement to meet the total primary and plate manufacture necessity. This execution
empowered continuous stockpile of created things to the work site, accelerating the
extent of mechanical works.
Safety standards
L&T has embraced and carried out different Quality Plans and Security Intends to keep up
and accomplish benchmark brings about quality and wellbeing.
With more than 172 sections of land of plant territory, a labor force of more than 3100 and a
normal working height of 40m, L&T had the option to effectively keep up its standing of
having the most noteworthy security principles at its concrete plants by timing more than 15
million without injury safe worker hours. This is L&T's subsequent venture site where it has
gotten the most renowned English Security Board Grant.
Current construction projects include :-
a.) Western dedicated freight corridor
b.) Garden reach flyover
c.) Chandigarh-Kharaar elevated corridor
d.) Hyderabad metro
e.) Delhi-Ahmedabad bullet train
Previous construction projects include :-
a.) Lotus temple
b.) Statue of unity
c.) Narendra Modi stadium
d.) Kachi dargah bridge
3. Manufacturing arm (wikipedia)
This arm of L&T incorporates defence gear, equipment and frameworks, Substantial
Designing and engineering, Development, Mining and Modern Apparatus, Mechanical Valves
and Electrical and automation Frameworks.
In the manufacturing sector the most notable developments are coming in the area of
defence. L&T is perhaps the biggest designer and providers of defence hardware, equipment
and frameworks, with more than 30 years of involvement with this space. It offers plan-to-
produce and conveyance solutions for land, ocean and air safeguarding. The organization
additionally offers specialised turnkey defence development administrations, framework and
modernization of facilities. L&T's Aviation business fabricates gear and frameworks for the
avionics and space industry, and has added to ISRO's Chandrayaan-2 and Mars Orbiter
missions. In 1985, L&T entered into partnership with DRDO. During that time the
government had barred private players from entering into manufacturing of defence
equipment so L&T was only allowed to participate in the design and development phase.
After a series of successes and positive policy initiatives, L&T today makes a range of
weapons and missile systems, command and control systems, engineering systems, naval
vessels for attack and defence purposes, army trucks and mounted artillery systems, etc.
The top products include :-
a.) Bridge laying systems for tank, troops and motor transfer.
b.) Sudarshan close-in air defence system.
c.) Tactical UAVs.
d.) Weapons launch system including torpedo launching system, rocket launchers,
BRAHMOS inclined and vertical missile launchers.
e.) Various Radar and Sonar systems like Revathi radar system, etc.
f.) Secure communication systems and data links.
g.) Frigates, Destroyers, Corvettes, Patrol boats, Interceptor boats, Floating docks and
Submarines.
h.) Top of the line ATGMs, Sea ceptors, Mica missile system which is jointly produced in a
joint venture with French defence manufacturing firm MBDA.
i.) Self-propelled howitzers K-9 Vajra, which are a derative of the Korean K-9 Thunder
howitzer as well as a joint project with DRDO to design, develop and manufacture a light
tank project for the Tibetan border area.
L&T is among the five biggest fabrication organizations on the planet. L&T has a shipyard fit
for building vessels of up to 150 meter long and uprooting of 20,000 tons at its substantial
designing complex at Hazira plant, Gujarat which also houses the factory line developing the
K-9 Vajra. The shipyard develops concentrated substantial lift ships, CNG transporters,
synthetic big haulers, guarding-patrolling and para-military vessels, submarines and other
job explicit vessels. L&T fabricates, showcases and offers support for development and
mining hardware, including surface diggers, water driven earthmovers, total smashers,
loader excavators and vibratory compactors; supplies elastic handling apparatus and makes
and markets mechanical valves and associated items alongside application-designed welding
alloys. L&T power has set up an association zeroed in on coal-based, gas-based and atomic
force projects. L&T has framed two joint endeavors with Mitsubishi heavy industries, Japan
to produce excessively basic boilers and steam turbine generators. L&T-MHPS Turbine
Generators Private limited (earlier known as L&T-MHI Turbine Generators Private limited) is
a Joint Endeavor Organization shaped in 2007 in India between Larsen and Toubro limited
(L&T), India, Mitsubishi Hitachi power systems (MHPS) and Mitsubishi Electric Corporation
(MELCO), settled in Tokyo, Japan for production of super-basic Turbines and Generators.
L&T-MHPS Boilers Private limited (once in the past known as L&T-MHI Boilers Private
limited) is a 51:49 Joint Endeavor Organization framed on 16 April 2007 in India between
Larsen and Toubro limited (L&T), India and Mitsubishi Hitachi Power Systems (MHPS), Japan
for participating occupied with configuration, designing, fabricating, selling, support and
adjusting of Supercritical Boilers and Pulverisers in India.
The planning wing of L&T ECC is EDRC (Engineering Design and Research Center), which gives
consultancy, plan, and administrations. It does the essential and nitty gritty plan for both
private and business projects.
4. Financial services arm (businessstandards.com)
L&T Finance Holdings Ltd. (LTFH) was incorporated on May 01 st, 2008 as a public limited
entity with the name of L&T capital holdings limited. L&T Finance Holdings Ltd. (LTFH) is a
monetary holding organization offering an engaged scope of monetary items and
administrations across country lodging and discount account areas just as shared asset items
and abundance the board administrations through its entirely claimed auxiliaries viz. L&T
Finance Ltd. The company is promoted by Larsen and Toubro limited as a holding company
for it own financial service business. As of Walk of March 31st 2018 the Organization had 11
auxiliaries ( including the step down auxiliaries). L&T finance limited is one of India's driving
NBFC brands offering a different scope of monetary items and administrations across rustic,
housing and infrastructure finance area. It likewise offers mutual fund products and
investment management services. Settled in Mumbai, it takes into account the business
necessities of its developing client base through a cross country organization of branches
and meeting focuses, a product portfolio covering five distinctive business verticals.
Moreover, L&T Finance also provides auto, two wheeler, and loyalty financial loans, as well
as real estate finance and wealth management services. LTFH' s whole-sale financial business
includes infrastructure accounts organized corporate money and inventory network money.
The organization likewise offers debt capital business services and administration as a
feature of its wholesale finance account business portion. In 2017, L&T's finance holdings
extended its impression by beginning Miniature aka micro finance business in Assam. During
the year its mutual funds finances business crossed the Rs 50,000 crore Assets Under
Management mark (AUM).On the date of 8th march, 2018 L&T Finance Holdings limited
(LTFH) reported that it has finished the special apportioning to Larsen and Toubro limited
(the promoter i.e. holder) of rs 10.78 crores value shares at issue cost of Rs. 185.51 per
share. Through this issue the promoter i.e. Larsen and Toubro limited has contributed extra
capital adding up to Rs 1999.99 crore exhibiting their conviction and obligation to the Larsen
and Toubro Finance Holding limited's (LTFH) development story. The capital thus
contributed by the Larsen and Toubro limited (Promoters) will surely in future aid in funding
the growth of Larsen and Toubro Finance Holding's focused lending businesses -which are
rural finance, housing finance and wholesale finance and will further surely strengthen the
capital adequacy capacity of the company. On 20th June, 2018 Larsen & Toubro Finance
Holdings (LTFH) through its auxiliary unit i.e. subsidiary company Larsen & Toubro Finance
(LTF) declared the kickoff of its 1000th contact centre in Kolkata, West Bengal for its micro
credits business. Besides that the organization has dispatched an application (app) which
would empower consistent client on-boarding by giving on-moment credit authorization.
The micro credits business has a start to finish computerized stage installed with a scope of
administrations, for example, advance endorsing bunch development online endorsing
receipting hazard reviews and so forth. Larsen & Toubro Finance Holdings Ltd. is a NSE and
BSE listed company and is also registered with the Reserve Bank of India (RBI) as a Non-
Banking Financial Company (NBFC) and Core Investments company (CIC). It conducts its
financial services businesses through various subsidiaries. L&T Financial Services is the brand
name of L&T Finance Holdings Ltd.
5. Technological services arm (businessworld.in)
The chances are in abundance for tech organizations, particularly with the setting of PM
Narendra Modi's vision to make Digital India and Make in India a triumph, are remarkable.
Joining 1.2 billion individuals through innovation and empowering quality medical care,
security and data requires a listed designing structure on which keen urban communities
equipped with the top notch line advanced equipment and amenities can prosper. As
engineering firms gear up to make the PM's vision a reality, L&T's technology services is
taking a lead in this undertaking.
Engineering Services Outsourcing (ESO) out of India is no longer a specialty. It can possibly
be the greatest development driver for the innovation rethinking industry and be a vital
participant in the advanced country drive. India has benefited from the IT bloom for last 15-
18 years and this pattern has now reaped.
The addressable market for worldwide ESO space is estimated upon to develop to $215
billion to $300 billion by 2020. L&T Technology Services is as of now the main unadulterated
designing specialist company in India and it is appraised in the authority zone across eight
verticals and two horizontals along these lines approving its prevailing position.
L&T highlighting the chance at hand points out that the Engineering Research &
Development service market is opening up now of time and there lies a gigantic potential to
tap this market particularly in the Embedded and Software services spaces.
L&T is taking the correct actions to exploit this quickly by developing business sector for
service industry with a multi-pronged vertical plan. The organization is wagering high on
advanced designing, particularly savvy advances, for example, Internet of Things (IoT) for
Smart Assembling and Manufacturing industries 4.0 with center focus around quick
developing verticals like automotives, clinical, mechanical among others.
L&T Technology Services is expecting the government authority to increment the spend on
Research and development in the years to come. This will empower it to join forces with
government associations for arrangements that increase the value of various areas like
designing. Another need is that the government should ought to designate assets and
empower interests in more up to date services and advances like big information, designing,
analysis and Internet on Things (IoT). L&T Technology Services is working with its clients
across verticals on different IoT activities like associated indoor regulators, vibration analysis
of modern machines, wellbeing security for laborers, squander water pipelines for water
utilities and wellbeing arrangements that empowers great home consideration for the older
and the impaired while saving medical services costs. L&T Technology Services works at a
worldwide scale and an enormous number of its clients are amongst the Fortune five
hundred customers.
L&T Technology Services has been operating inside Mumbai since a very long span of time
and has also been able to recently expand into the well known Airoli Special Economic Zone
(SEZ) with its industrial products and telecommunication businesses. Some of its respected
solutions teams in Analytics and Power Electronics and Automotive Electronics segments are
also currently set here. While, the most recently formed centre at Hyderabad came along
with the Dell Engineering Services (e-Service) acquisition. At present L&T Technology
Services has over and above 10,000 highly skilled professionals in its enclosures, with 12
global delivery centers and operations in 35 locations around the world. L&T Technology
Services works at a worldwide scale and an enormous number of its clients are amongst the
Fortune 500 customers. Some of Larsen and Toubro Technology service’s key international
competitors include Altran Technologies, Alten, Akka Technologies, Harman, amongst the
others. Some of the big IT players in the Indian market such as TCS, Wipro, HCL, in India also
compete with its ER&D services.
In spite of the extreme rivalry, L&T Technology Services has been enrolling enormous
development. The organization has soared its growth at a consistent 19% CAGR from FY11 to
FY16. Incomes have grew to a run-rate of USD 500 million from a base of USD 70 million in
2009.The contributions to development have been both internal and external. Engineering
Research & Development service is at its intonation point now where information
technology services innovation was in 2000. This is the area that will bloom as it is
developing at a quick speed, considerably quicker than the IT business, which is now
developed and commoditized. Engineering Research & Development service has more
headroom to develop in light of the fact that the addressable market is a lot greater today
than what is now tended to. Engineering Research & Development service is additionally
strategic as whatever we accomplish for customers in this space goes as a component of
their items that they offer to their customers. Industry specialists additionally seem sure that
L&T Technology Services will actually want to keep up its energy in the worldwide
engineering services space.
The three factors that differentiate L&T Technology Services from its competitors and are
reasons for its pole position in this area are following:-
1.) Rich heritage and history in engineering from parent company i.e. Larsen and Toubro
Limited.
2.) Continuous infrastructure investments in various state-of-the-art research and testing
facilities for the numerous innovating trends such as the Internet on Things, Power
Electronics, Engineering Analytics, etc.
3.) The last but most important aspect of their success story is inducing curiosity towards
technological innovations within their own organization and amongst its various
customers - this fact is clearly evident because of the existence of over 240 patents (and
still counting ) co-authored with their customers.
The mainstays of L&T Technology Services development technique would be the new lab
based help service for testing; the emphasis on arrangement advancement with
environment accomplices; new portions in customer gadgets like wearables, distant
administration of mechanical apparatus and worldwide partnership with product
organizations for IoT. Smart city arrangements would be a major part too as would be the
push towards future innovation, for example, environmentally friendly power energy
arrangements. L&T Technology Services is good to go to develop with the Indian economy in
an advanced world.
6. L&T business strategy
7. Key story
