Larsen & Toubro Limited
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| NSE: LT | |
| Public | |
| Traded as | : LT : BSE SENSEX Constituent |
| ISIN | INE018A01030 |
| Industry | Conglomerate |
| Founded | Bombay, Bombay Presidency, British India (1938) |
| Founders | |
| Headquarters | L&T House, N.M. Marg, Ballard Estate, Mumbai, Maharashtra, India |
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Area served
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Worldwide |
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Key people
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| Products | |
| Services | |
| Revenue | ₹102,631.69 crore (US$16 billion) (2016) |
| Profit | ₹5,537.99 crore (US$860 million) (2016) |
| Total assets | ₹227,524.72 crore (US$35 billion) (2016) |
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Number of employees
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84,027 (March 2014) |
| Divisions | Real Estate(Realty), Technology, Engineering, Construction, Manufacturing |
| Subsidiaries | L&T Technology Services, L&T Infotech, L&T Mutual Fund, L&T Infrastructure Finance Company, L&T Finance Holdings, L&T MHPS |
| Website | www |
Larsen & Toubro Limited, commonly known as L&T, is an Indian multi-national conglomerate headquartered in Mumbai, Maharashtra. It was founded by two Danish engineers taking refuge in India. The company has business interests in engineering, construction, manufacturing goods, information technology, and financial services, and has offices worldwide.
Larsen & Toubro originated from a company founded in 1938 in Bombay (now Mumbai), British India by two Danish engineers, Henning Holck-Larsen and Søren Kristian Toubro. The company began as a representative of Danish manufacturers of dairy equipment. However, with the start of the Second World War in 1939 and the resulting restriction on imports, the partners started a small workshop to undertake jobs and provide service facilities. Germany's invasion of Denmark in 1940 stopped supplies of Danish products. The war-time need to repair and refit ships offered L&T an opportunity, and led to the formation of a new company, Hilda Ltd, to handle these operations. L&T also started to repair and fabricate ships signalling the expansion of the company. The sudden internment of German engineers in British India (due to suspicions caused by the Second World War), who were to put up a soda ash plant for the Tata's, gave L&T a chance to enter the field of installation.
In 1944, ECC was incorporated by the partners; the company at this time was focused on construction projects (Presently, ECC is the construction division of L&T). L&T began several foreign collaborations. By 1945, the company represented British manufacturers of equipment used to manufacture products such as hydrogenated oils, biscuits, soaps and glass. In 1945, the company signed an agreement with Caterpillar Tractor Company, USA, for marketing earth moving equipment. At the end of the war, large numbers of war-surplus Caterpillar equipment were available at attractive prices, but the finances required were beyond the capacity of the partners. This prompted them to raise additional equity capital, and on 7 February 1946, Larsen & Toubro Private Limited was incorporated.
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