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Larsen & Toubro Ltd

NSE: LT BSE: 500510

₹4068.10

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larsentoubro ltd History

1946

  • Incorporated on 7th February as civil, mechanical, electrical, chemical & agricultural engineers, manufacturers, importers, exporters, contractors.
  • Represents overseas manufacturers of tractors, agricultural machinery, dairy machinery, cooling towers, industrial plants, coal mining machinery.

1969

  • Alu Capsules Ltd and India Crown Cork Co. Ltd amalgamated effective 1st Oct.
  • Forms Bottle Closure Division.

1975

  • Commissions plant at Bangalore for hydraulic excavators and systems with Poclain France.

1977

  • Faridabad Factory becomes operative for switchboards manufacture.

1979

  • Wilcox Buckwell India Ltd merged effective 1st April.

1981

  • Utkal Machinery Ltd amalgamated effective 1st April.
  • Signs agreement for purchase of two 27,000 DWT bulk carriers.
  • Makes right issue of 13.5% convertible debentures for Rs 6 crores.

1982

  • Subsidiary Engineering Construction Corporation Ltd merged effective 1st Oct.

1983

  • Establishes cement plant with 1 mn tpa capacity at Chandrapur, commences production.

1984

  • Signs collaborations with Y.E Data, Honeywell, Jeumont Schneider, Potain Poclain, Oesterreichische Doka.
  • Issues 55,00,000 15% non-convertible debentures for Rs 55 crores.

1985

  • Manufactures and delivers two end shields for Kakrapara Atomic Power Project.

1986

  • Commissions factory at Hebbal near Mysore for computer peripherals.

1987

  • Diversifies into 400 KV transmission lines.

1988

  • Enters collaborations with Sundstrand Sauer, Case Vibromax, JI Case.
  • Signs MoU with Colas S.A. France for asphalt emulsion JV.

1989

  • Commissions medical electronics project at Mysore.
  • Receives licences for ship auxiliaries and rail equipment.
  • Enters technical collaboration with MPSI USA for coal sizing equipment.
  • Issues 30,000 13.5% debentures to institutions.
  • Issues 63,78,750 12.5% FCDs.
  • Issues 275,63,215 12.5% FCDs worth Rs 820 crores.

1990

  • Enters agreement to take over Kirloskar Pneumatic tractor unit.
  • Completes 200 flats for Sai Central Trust.
  • Commissions sponge iron plant for Essar Steel at Hazira.
  • Signs foreign collaborations with Mannesmann, AFE Displays, Western Digital, Y-E Data.

1991

  • Signs major contract for Trisuli Hydro Power Project in Nepal.

1992

  • Manufactures carbonate condenser for IFFCO.
  • Develops ethylene oxide reactor for SM Dyechem.
  • Develops public switching system and microwave equipment.

1993

  • L&T-Gould Ltd amalgamated effective 1st January.
  • Launches 90 CK-111 model.
  • Delivers methanol condenser and test separator.
  • Supplies endshields for Karga Atomic power project.
  • Commissions Max-L telephone exchange at Chittorgarh.
  • EWAC Alloys ceases to be subsidiary.

1994

  • Offers 80,83,832 GDRs fully subscribed.
  • Signs MoU with SAIL and Energy Alternatives for 2x250 MW power plant.
  • Ties up with Sargent & Lundy for EPC and JV engineering.

1995

  • Sets up glass container plant with Vetropack Switzerland.
  • Signs MoI with Samsung for telecom JV.
  • Signs MoU with Orissa govt for steel plant.
  • Commissions 15 lakh tonne cement plant at Kovaya Gujarat.

1996

  • Has two subsidiaries and seven associates.

1997

  • Puts up captive power plants at Awarpur and Gujarat.
  • Employees Association launches strike.
  • L&T-McNeil awarded All India Special Shield for exports.
  • Wins Golden Peacock National Quality Award.
  • Introduces 300 varieties of ready mix concrete.
  • Receives Most Outstanding Bridge National Award.
  • Equity shares admitted for dematerialisation.
  • Adds Canon L300 laser fax machine.
  • Awarded 115 MW captive power project for Haldia Petrochemicals.
  • Enters 50:50 JV with Komatsu for hydraulic excavators.
  • Receives letter of award for Haldia co-generation plant.
  • Forms alliance with Komatsu in construction equipment.
  • Awarded railway electrification contract in Kerala.

1998

  • Sets up JV with Komatsu for earthmoving equipment.
  • Enters JV with Deere & Co. for tractors.
  • Bags two national awards for construction excellence.
  • Conferred ICMA award for chemical plant design.

1999

  • Bags Rs 135 cr EPC contract for Usha Beltron captive power plant.
  • HPL Cogeneration converts loans to equity, capital to Rs 122 cr.

2000

  • Enters agreement with Gujarat Ambuja Cements for cement transport.
  • Crisil assigns highest rating to Rs 100 cr debenture issue.
  • Accidental leakage at Nashik Glass Work.
  • Announces strategic partnership with SAP India.
  • Sets up wholly-owned L&T Capital Company Ltd.
  • Forms L&T Equipment Leasing Co. Ltd.
  • Infotech awarded National Export Award for 1998-99.
  • Floats 26:74 JV with Sharp Corporation.
  • Offers 5-year NCD issue at 11.25% for Rs 50 cr.
  • Launches slag cement S-53.
  • Extends ESOP to 500 senior managers.
  • Construction awarded contract for two stadia in Qatar.
  • Launches second phase of HITEC City.
  • Increases cement capacity by 2 mn tonne to 16 mn tonne.
  • Sets up private market for EPC business.
  • Sets up 1 mt grinding unit at Durgapur.
  • Plans to hive off cement business by March.
  • Appoints J P Morgan and DSP Merrill Lynch for cement demerger.
  • Appoints Vijay Kumar Magapu as CEO of Infotech.
  • Sharp JV launches inkjet printers.
  • Replaces ACC in Jindal Vijaynagar grinding unit.
  • Agrees to collaborate with GAIL in multiple areas.
  • Commissions cement plant at Arakkonam.

2001

  • Enters JV with Demag Ergotech of Germany.
  • Forms L&T EMSYS for embedded software.
  • Commissions 1 mn tonne cement grinding plant at Arakkonam.
  • L&T-DEMAG Plastics Machinery commences operations.
  • Infotech signs MoU with Sun Microsystems for e-business.
  • Infotech may set up software centre in Orissa.
  • NHAI signs contracts for two bridges on NH 5 Andhra Pradesh.
  • Closes $104 million syndicated term-loan facility.
  • Bags Rs 121.5 cr contract for NH4 Chennai-Bangalore stretch.
  • Introduces third VRS for unionised employees.
  • JV bags Rs 673 cr highway project in Rajasthan.

2002

  • Buys Caterpillar's shareholding in JV Tractor Engineers Ltd, making it wholly owned.
  • Submits end shield to NPCIL for first time in India.
  • Gujarat cement works gets European Standard CEM I 42.5R accreditation.
  • Financial institutions stake increases to 37%.
  • Grasim and L&T set up task force for logistics and procurement.
  • Steps into Chinese market with medical equipment.
  • Exits internet trading business.
  • Receives clearance for Coimbatore bypass toll proposal.
  • Gets Rs 37.53 cr contract from Northern Railway.
  • Grasim hikes holding to 13%.
  • Mops up 3-month money at 6.55%.
  • IL&FS and L&T tie up for infrastructure projects.
  • Implements compulsory retirement scheme.
  • Places Rs 50 crore rating contingent debentures with I-Sec.
  • Closes Narmada Cement grinding unit at Magdalla.
  • Infotech opens IBM centre.
  • Settles dispute with advertising agencies.
  • Builds Rs 450 cr hydrogen unit for IOC at Barauni.
  • Receives contract for hotel-residential complex in Dubai.
  • Raises Rs 65 crore through 10-year bonds.
  • Forms JV with Shapoorji Pallonji for Cyber Tower in Mauritius.
  • Bags Rs 5810 million turnkey refinery order from IOC.
  • Grasim hikes stake to 14.15%.
  • Bags two EPC contracts from KNPC Kuwait.
  • Bags $23 million contract from Lafarge Surma Cement Bangladesh.
  • Wins two World Bank contracts worth $100 million from Songas Tanzania.
  • Engages Ascendas for Rs 180 crore Cyber Pearl IT complex.
  • Gets contract for longest flyover in New Delhi.
  • Gets award from International Federation for Structural Concrete.
  • Hikes cement capacity to 16.5 million tonnes.
  • Forges alliance with JV International for steel frames project.
  • LIC increases stake to 18.5%.
  • Grasim sends legal notice challenging cement demerger.

2003

  • Bags $32.50 million order from Oman India Fertiliser Project.
  • Bags Indian Oil contract for Panipat PTA plant.
  • Wins Rs 2690 million IBRD-funded road project in Karnataka.
  • Revamps Engineering Division into four divisions.
  • Obtains licences for warships, submarines, radar, sonar, combat vehicles.
  • Ties up $50m loan with IFC for restructuring.
  • Signs tie-up with Kobe for hydraulic tyre curing presses.
  • Selected for infrastructure work in Iraq by US aid agencies.
  • ECC completes electrification of Bihar rail project.
  • Mandated EPC for 1.2 mn tpa cement plant in Bangladesh by Lafarge.
  • L&T and Thames Water JV bags leakage reduction contract.
  • Approves demerger of cement business to Grasim.
  • Enters $50 million loan agreement with IFC.
  • Gets Rs 50 cr leakage curtailment contract from BWSSB.
  • Increases stake in Oman subsidiary to 65%.
  • Ties up with European companies for ESP business.
  • Henning Holck-Larsen passes away.
  • Bags Rs 420 million flyover order in Oman.
  • Infotech bags $75m SAP order from Motorola.
  • Forays into China with modular equipment supply.
  • Enters agreement with Citibank for Global Depository Shares.
  • Sets up trust to acquire Grasim holdings.
  • Bags $100m Motorola contract.
  • Shuts down packaging business.
  • Ties up with Union Bank for tractor finance.
  • Picks 30% stake in NAC Infrastructure Equipment.
  • Gets order from Shell Hazira Gas for LNG development.
  • Bags Rs 9210 million order for largest hydel project.
  • Bags Rs 7000 million power plant order.
  • Board approves disposal of glass business.
  • Secures Rs 700 cr power plant order from GMR.

2004

  • L&T-John Deere signs MoU with SBM for tractor financing.
  • Bags $30 mn order in UAE.
  • Receives Rs 1370 mn order for nuclear power plant equipment.
  • Granted licence to make submarines.
  • Bags commendation award.
  • L&T-John Deere joins hands with BoI for tractor finance.
  • CMD gets corporate leadership award.
  • Mops up Rs 225 crore via private bond placement.
  • Wins Rs 70 crore contract for hotel in Bahrain.
  • Bank of Baroda signs MoU with L&T John Deere for farm lending.
  • With EIL inks pact with IOC for Iran pipeline project.
  • Ties up with Zoll Medical Corporation.
  • Wins Rs 95 crore coal gasification equipment order from China.
  • Cement division demerged into UltraTech CemCo with Grasim majority control.
  • Wins $52.5 million order from UAE for oil field platform.
  • Launches new 35 HP tractor.
  • Joins hands with BEL to develop radar for Army.
  • Tata Steel and L&T sign JV for Dhamra port in Orissa.
  • Joins hands with Dubal to set up alumina plant.

2005

  • L&T John Deere launches 40 HP tractor 5103 model.
  • Joins hands with Dubal to set up Rs 50000 mn alumina refinery plant.
  • Bags Rs 1650 mn order for water supply system to Greater Bangalore.
  • Exits tractor business.
  • Secures Rs 4950 mn contract for new Hyderabad Airport.
  • Receives contracts from Dubai-based firm.
  • Enters MoU with DSL Nashik for merger under BIFR.

2006

  • Bags Rs 440 cr order from Zadeko Ship Management.
  • Inks JV in Kuwait for construction in Gulf.
  • Wins Rs 7500 mn BOT highway contract in Gujarat.
  • Forges technological alliance with Mitsubishi Heavy Industries for power equipment.
  • Wins Rs 5400 crore Delhi Airport contract.
  • Gives bonus in ratio 1:1.

2007

  • Boeing signs MoU for defense sector opportunities.
  • Signs MoU with Dassault Systèmes.
  • Sets up JVs with Toshiba and MHI for super-critical turbines and boilers.
  • Bags orders valued Rs 412 crores.
  • Bags Rs 877 crore ONGC order.
  • Bags Rs 114 crore order from SAIL.
  • Appoints Subodh Bhargava as Additional Director.
  • Appoints Bhagyam Ramani as Nominee Director.
  • Wins repeat order over $70 million for two ships from RollDock BV.
  • Inks JV agreement with MHI for super-critical steam turbine & generator facility.

2008

  • Electrical & electronics division gets Rs 74.7 cr SCADA contract from ONGC.
  • Appoints A K Jain as Additional Director.
  • Secures Rs 1557 cr order for 2x800 MW steam turbine generator.
  • Issues bonus shares in ratio 1:1.

2009

  • Receives Rs 2000 crore order from GMR Energy for 2x384 MW gas-based power plant.
  • Buildings & Factories bags orders aggregating Rs 1513 crore.
  • Secures BoP contract valued Rs 1635 cr from MPPGCL for 2x600 MW plant.
  • Teams up with NPCIL for nuclear power parts.
  • Infrastructure wins Rs 844 cr contract from NPCIL for Kakrapar Atomic Power Project.

2010

  • Secures orders worth Rs 581 crore from Powergen and Bangalore Water Board.
  • Buildings & Factories bags orders aggregating Rs 2325 crore.
  • Bags Rs 1013 crore project from ONGC for Mumbai High North platforms.
  • Buildings & Factories bags orders aggregating Rs 1500 crores.
  • Bags Rs 970 crore contract for 36 high speed interceptor boats for Indian Coast Guard.
  • Bags orders valued Rs 1500 crore for hospitals, towers, factories.
  • Signs MoU with Rolls-Royce for light water reactors.
  • Wins offshore platform contract from GSPC valued Rs 1060 cr.
  • Bags Rs 827 crore orders for thermal power plant construction.
  • Bags Rs 376 cr offshore rig refurbishment contract from ONGC.
  • Awarded Rs 12132 crore Hyderabad Metro Rail Project.
  • Bags 2 projects worth Rs 1195 crore from ONGC.
  • Wins INR 1610 cr order from Visa Power for 1200 MW power plant.
  • Bags INR 700 cr orders from water & material handling sectors.

2011

  • Bags Rs 1103 crore orders in railway sector.
  • Bags new orders worth Rs 1181 cr in buildings & factories.
  • L&T MHI JV inaugurates twin facilities for power equipment at Hazira.
  • Signs MoU to invest Rs 15000 crore in Gujarat infrastructure.
  • Signs JV with Kobe Steel for tyre & rubber industry equipment.
  • Forms partnership with CASSIDIAN.
  • Bags over Rs 1100 cr energy project.
  • Mutual Fund launches L&T FMP – III (April 180D A).
  • Bags gas-based power plant EPC order from PPN Power.

2012

  • Bags orders worth over Rs 2056 crore across segments.
  • Bags Rs 1937 crore order for 4-laning Shivpuri-Dewas NH-3 section.
  • Construction bags orders valued Rs 1880 crore.
  • Construction bags orders valued Rs 1306 crore.
  • Finance Holdings acquires Indo Pacific Housing Finance Ltd.
  • Construction bags order worth Rs 1700 cr.
  • Joins hands with Samsung Techwin for Indian Army artillery programme.
  • Joins hands with Nexter Systems for Indian army artillery programme.
  • Mutual Fund launches L&T FMP – VI (April90D A).
  • JV firm bags contract from Sadara Chemical Company.
  • Mutual Fund launches L&T FMP – VI (May91D A).
  • Construction secures orders valued over Rs 2592 crore.
  • Construction secures orders valued over Rs 2040 crore.
  • Construction arm bags orders worth Rs 2008 cr.
  • Wins Rs 749 crore contract from ONGC for 4 wellhead platforms.
  • Wins order for manufacture of cryostat for International Fusion Energy Project.
  • Led JV wins Rs 1252 cr Delhi Metro contract.
  • Bags $250mn EPC contract in Ras Laffan, Qatar.
  • Bags Rs 781 cr contract from ONGC.

2013

  • Ranked among India’s Top 5 Most Respected Companies by Businessworld.
  • Scores high in Global 500 Climate Change Report.
  • Receives Economic Times Good Corporate Citizen Award.
  • Completes acquisition of Audco India Ltd.
  • IDPL bags Rs 1293 crore road project in Odisha.
  • Group company wins Saudi Aramco contract.
  • Announces bonus in ratio 1:2.

2014

  • Ranked Asia’s 2nd Most Sustainable Company in Industrial Sector.
  • Technology Services wins Frost & Sullivan Excellence Award.
  • Wins Golden Peacock Award for Excellence in Corporate Governance.
  • Power wins National Energy Conservation Award.
  • Wins ICICI Foundation-CNBC TV18 Inclusive India Award.
  • Construction wins Rs 1630 crores expressway project in Uttar Pradesh.
  • Bags USD 480 million EPC orders in Bangladesh for two gas-based plants.
  • Wins Saudi Aramco contract.
  • Wins Rs 5100 crore supercritical power plant order from MP State Utility.
  • Construction wins Rs 4510 crores Doha Metro Project.

2015

  • Wins Golden Peacock Award for Risk Management.
  • Awarded for excellence in power project execution by Central Board.
  • Receives Good Corporate Citizen Award.
  • Construction commissions India's first 765kV Gas Insulated Substation.
  • Secures Rs 5580 cr power plant order from NTPC.
  • Signs MoU with AREVA for Jaitapur Nuclear Power Project.
  • Opens new service centre in Nagpur.

2016

  • Construction wins orders valued Rs 2871 crores.
  • Ties up with McDermott Intl for deepwater market in India.
  • Construction bags orders worth Rs 2213 crores.
  • Bags order worth Rs 3205 cr across businesses.
  • Signs contract to build stadium in Qatar for FIFA World Cup.
  • Achieves synchronization of power project.
  • Signs agreement with Chiyoda Corporation.
  • Technology Services named IACC Company of the Year.
  • Construction signs contract with Maharashtra Govt for Nagpur Smart City Project.
  • Construction wins railway order valued Rs 3799 crores.
  • Bags major order from Vietnam Border Guard for high speed patrol vessels.
  • JV wins Rs 3115 cr Bihar New Ganga Bridge Project.

2017

  • Construction wins orders valued Rs 2170 crores.
  • Wins Rs 1700 cr contract to build crude oil pipeline from KOC Kuwait.
  • Hydrocarbon Engineering wins Rs 1150 cr contract from ONGC.
  • Construction wins orders valued Rs 2525 crores.
  • Construction wins orders valued Rs 1600 crore.
  • Commissions 225 MW Sikalbaha Combined Cycle Power Plant in Bangladesh.
  • Hydrocarbon Engineering signs 5-year framework agreement with Shell.
  • Acquires partner's stake in L&T Cassidian Limited JV.
  • Establishes JV with MBDA for missile systems.
  • Hydrocarbon bags orders worth Rs 4000 crores.
  • Plays critical role in ISRO's 104 satellites launch.
  • Electrical & Automation FZE wins Rs 500 cr order from Qatar Rail.
  • Construction wins orders valued Rs 3572 crore.
  • Hydrocarbon Engineering wins Rs 1100 cr order for Indmax from IOCL.
  • Hydrocarbon Engineering led consortium secures awards from Saudi Aramco.
  • Bags EPC order for 400 MW gas-based power plant in Bangladesh.
  • Hydrocarbon Engineering signs agreement with ICT for second generation ethanol plants.
  • Launches Navy's floating dock.
  • Wins Best Capital Projects & Infrastructure Risk Management Award.
  • Power wins FICCI Quality Systems Excellence Platinum Prize.

2018

  • Wins significant contracts in domestic and overseas markets.
  • Receives Special Recognition Award in Employer Brand Research Survey by Randstad.
  • Technology launches digital industrial solutions.

2019

  • Wins Dun & Bradstreet Corporate Award in Construction Infrastructure Development.
  • Construction recognized as Best Performing Power Transmission & Distribution Organization by Central Board of Irrigation and Power.
  • Construction wins orders worth Rs 1060 cr.
  • Construction bags orders for hospital construction.

2020

  • Wins large contract from Indian Army for advanced IT-enabled network.
  • Construction arm wins large water management orders in Karnataka.
  • Launches final offshore patrol vessel for Indian Coast Guard.
  • Wins two Risk Management Trophies from CNBC TV18.

2021

  • Ranked fourth on LinkedIn's 2021 Top Companies List in India.
  • Hydrocarbon Engineering wins EPC Company of the Year award for 2020.
  • Construction bags order from Oilfields Supply Company Saudi.
  • LTI launches operational technology transformation solution with ServiceNow.
  • Bags orders for Power Transmission & Distribution business.

2022

  • Bags significant orders for hydrocarbon business.
  • Buys Chiyoda's entire stake in JV LTC for Rs 75 cr.
  • Construction arm bags significant orders from Odisha Govt.
  • Construction awarded significant contract for Water & Effluent Treatment business.
  • Bags orders for transportation infrastructure business.
  • Secures order from Bangladesh Hi-Tech Park Authority.
  • Inks partnership with Microsoft for regulated sector cloud offering.
  • LTI partners with IIT Madras.

2023

  • Construction awarded significant contracts for Water & Effluent Treatment business.
  • Construction awarded large contract to construct Bhogapuram International Airport.
  • Construction awarded large multiple orders for Heavy Civil Infrastructure business.
  • Bags major orders for hydrocarbon business.
  • Signs MoU with H2Carrier AS for floating green hydrogen and green ammonia projects.

2024

  • Precision Engineering & Systems wins major order for K9 Vajra-T Artillery Platforms.
  • Announces strategic partnership with E2E Networks for cloud and AI innovation.
  • Forms strategic partnership with Clean Core Thorium Energy in clean energy.
  • Wins contract for hydrocarbon business.
  • Launches multi-purpose vessel for Indian Navy.
  • Semiconductor Technologies and IIT Gandhinagar join hands for semiconductor solutions for national projects.

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