Larsen & Toubro Ltd
NSE: LT BSE: 500510
₹3660.40
+18.40 (0.51%)
Fri, 23 Oct 2026, 08:08 pm
Market Cap (in Cr)505641.42
PE Ratio30.36
Dividend1.03
Industrial Services
Engineering & Construction
24.5KLarsen & Toubro Ltd Company 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.
