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Information about LARSEN and TOUBRO

Published on January 22, 2009

Author: maarzzb


LARSEN & TOUBRO : LARSEN & TOUBRO It’s all about Imagineering A SPECIAL DEDICATION : A SPECIAL DEDICATION TO PROF. SHILPA OF THE SUBJECT ECONOMICS ACKNOWLEDGEMENT : ACKNOWLEDGEMENT The overall chair for this project on LARSON & TOUBRO in ECONOMICS was Miss KOMAL RAJPUT(47). All the other group members were co-chairs of the development of the sectoral. The co-chairs of the source/subject level expert groups provided their time and expertise along with other experts, from a wide range of well wishers, who also gave of their time to write, comment and review the text and attend the discussion gatherings. Encouragement and support were received from the honorable PROF.SHILPA. Technical and organizational support for the project was provided by the B.M.S DEPARTMENT of SARAF INSTITUTE which also oversaw the initiation of the project including both the sectorals. GROUP MEMBERS : GROUP MEMBERS KOMAL – 47 RAJPREET – 4 ARTI – 11 AKSHI – 26 KHYATI – 51 PREKSHA – 23 KHATUN - 39 PROFILE : PROFILE Company Profile: Larsen & Toubro Limited Ticker: 500510 Exchanges: OTH 2008 Sales: 292,900,000,000 Major Industry: Machinery & Equipment Sub Industry: Construction Machinery Country: INDIA Employees:31941 OVERVIEW : OVERVIEW Larsen & Toubro Limited (L&T) is a technology, engineering, construction and manufacturing company. It is one of the largest and most respected companies in India's private sector. Seven decades of a strong, customer-focused approach and the continuous quest for world-class quality have enabled it to attain and sustain leadership in all its major lines of 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. L&T believes that progress must be achieved in harmony with the environment. A commitment to community welfare and environmental protection are an integral part of the corporate vision. HISTORY : HISTORY The evolution of L&T into the country's largest engineering and construction organization is among the most remarkable success stories in Indian industry. L&T was founded in Bombay (Mumbai) in 1938 by two Danish engineers, Henning Holck - Larsen and Soren Kristian Toubro. Both of them were strongly committed to developing India's engineering capabilities to meet the demands of industry. Beginning with the import of machinery from Europe, L&T rapidly took on engineering and construction assignments of increasing sophistication. Today, the company sets global engineering benchmarks in terms of scale and complexity. Henning Holck-Larsen Soren Kristian Toubro HISTORY IN A NUTSHELL : HISTORY IN A NUTSHELL 1938, the two friends decided to forgo the comforts of working in Europe, and started their own operation in India. With the start of the Second World War in 1939, imports were restricted, compelling them to start a small work-shop to undertake jobs and provide service facilities. Germany's invasion of Denmark in 1940 stopped supplies of Danish products. They started manufacturing dairy equipment indigenously. These products proved to be a success, and L&T came to be recognized as a reliable fabricator with high standards. In 1944, ECC was incorporated. Around then, L&T decided to build a portfolio of foreign collaborations. In 1945, L&T signed an agreement with Caterpillar Tractor Company, USA, for marketing earthmoving equipment. On 7th February 1946, Larsen & Toubro Private Limited was born. In 1948, fifty-five acres of undeveloped marsh and jungle was acquired in Powai. In December 1950, L&T became a Public Company with a paid-up capital of Rs.2 million. The sales turnover in that year was Rs.10.9 million In 1956, a major part of the company's Bombay office moved to ICI House in Ballard Estate. A decade later this imposing grey-stone building was purchased by L&T, and renamed as L&T House - its Corporate Office. The sixties saw a significant change at L&T - S. K. Toubro retired from active management in 1962 The sixties were also a decade of rapid growth for the company, and witnessed the formation of many new ventures: UTMAL (set up in 1960), Audco India Limited (1961), Eutectic Welding Alloys (1962) and TENGL (1963). By 1964, L&T had widened its capabilities to include some of the best technologies in the world. In the decade that followed, the company grew rapidly, and by 1973 had become one of the Top-25 Indian companies In 1976, Holck-Larsen was awarded the Magsaysay Award for International Understanding in recognition of his contribution to India's industrial development. He retired as Chairman in 1978. Today, L&T is one of India's biggest and best known industrial organisations with a reputation for technological excellence, high quality of products and services, and strong customer orientation. It is also taking steps to grow its international presence. VISION : VISION The L&T vision reflects the collective goal of the company. It was drafted through a large scale interactive process which engaged employees at every level, worldwide. GLOBAL PRESENCE : GLOBAL PRESENCE L&T has a global presence. A thrust on international business over the years has seen overseas revenues growing steadily. The company has manufacturing facilities in India, China, Oman and Saudi Arabia. It has a global supply network with offices in 10 locations worldwide, including Houston, London, Milan, Shanghai, Seoul. Customers include global majors in over 30 countries. AWARDS & RECOGNITION : AWARDS & RECOGNITION MAJOR AWARDS IN THE YEAR 2007-08 -IMC Ramkrishna Bajaj National Quality Award -Amity Corporate Excellence Award 2007 -ICAI Award -National Top Exporters Trophy -Emerging Global Company Award SUBSIDARIES AND ASSOCIATES : SUBSIDARIES AND ASSOCIATES The L&T Group has a number of subsidiaries & associates worldwide Engineering and construction Machinery and Industrial products Information Technology Financial Services ORGANISATION STRUCTURE : ORGANISATION STRUCTURE "The company that we run has a strong heritage of professionalism that places the highest value on merit and integrity. In the 70th year of the existence of L&T, all the directors on our board are conscious of our responsibility in transforming the organisation to make it truly world class, to ensure its continued long term success and growth.“ - BOARD OF DIRECTORS EXECUTIVE DIRECTORS : EXECUTIVE DIRECTORS A. M. NAIK Chairman & Managing Director ORGANISATION STRUCTURE : ORGANISATION STRUCTURE "The company that we run has a strong heritage of professionalism that places the highest value on merit and integrity. In the 70th year of the existence of L&T, all the directors on our board are conscious of our responsibility in transforming the organisation to make it truly world class, to ensure its continued long term success and growth.“ - BOARD OF DIRECTORS GLOBAL PRESENCE : GLOBAL PRESENCE TECHNOLOGY : TECHNOLOGY In every sphere of L&T's operations, technology is the key enabler, reinforcing its leadership position, and sustaining its competitive strengths. While for some, technology is a means to an end, for L&T, technology represents endless possibilities. Engineering and Construction Manufacturing Technology Services CORPORATE SOCIAL RESPONSIBILITIES : CORPORATE SOCIAL RESPONSIBILITIES L&T believes that the true and full measure of growth, success and progress lies beyond balance sheets or conventional economic indices. It is best reflected in the difference that business and industry make to the lives of people. Through its social investments, L&T addresses the needs of communities residing in the vicinity of its facilities, taking sustainable initiatives in the areas of heath, education, environment conservation, infrastructure and community development. The company proactively provides assistance in situations such as natural calamities and assists victims of nature's fury or social neglect. Many social initiatives are undertaken in partnership with government agencies and NGOs. STOCK PRICE : STOCK PRICE The engineering giant Larsen and Toubro is surprising all of us with its tremendous forceful rise at regular intervals. Such price-volume break outs are of significance. Sellers are raising their prices at will and yet there are enough buyers paying those prices. So it means it is a good 'buy' even at these levels. If market corrects, this stock should correct the least. Smart money would find this one a safe place to invest. Larsen would reach Rs 3000 by Mar 08 but now we need to revise our targets upwards. It had reached Rs 5000 by Oct 08. NIFTY CHART : NIFTY CHART INDUSTRIAL VISIT : INDUSTRIAL VISIT RETURN ON CAPITAL EMPLOYED – 20.6% ECONOMIC VALUE ADDED – 51% to RS.834 crore TOTAL GROWTH RATE – 9% of GDP ORDER BOOK as on MARCH, 2008- RS.52,683 crore of which 8,736 crore was contributed by international business. SALES GROWTH – 41% amounting to RS. 25,187 crore PROFIT AFTER TAX – increased by 55% TOTAL INCOME INCRASE - 40% to Rs. 29,883 crore RECENT PROFITS : RECENT PROFITS Net income in the three months ended Dec. 31 climbed 40 percent to 4.82 billion rupees ($122 million), or 16.21 rupees a share, from 3.44 billion rupees, or 11.24 rupees, a year earlier, Mumbai-based Larsen said in a statement today. Six analysts in a Bloomberg News survey had a median estimate of 4.46 billion rupees. Sales rose 55 percent to 63.8 billion rupees. MERGERS AND ACQUISITIONS : MERGERS AND ACQUISITIONS Tamco Corporate Holdings, Malaysia which has manufacturing facilities in Malaysia, China, Indonesia and Australia. Medium Voltage switchgear technology Strategic stakes in some of the key vendors for ensuring availability of raw materials. Exit the Ready Mix Concrete business. transfer this business to Lafarge Aggregates India Private Limited and divested the stake in HPL Cogeneration. RECESSION AFFECTS : RECESSION AFFECTS Sensex slips below 11K again; L&T tumbles 11% Sensex sheds 320 pts; L&T down 10%. India shares drop 5.9 pct; Reliance, L&T lead fall L&T Info to delay IPO on U.S. recession OUTLOOK : OUTLOOK While macro economic fundamentals continue to inspire confidence, the recent slowdown in the industrial sectors, coupled with the spike in input costs, particularly oil, and the credit squeeze, may impact the ability of the capital goods sector to sustain the growth momentum in the near term. Despite this, in view of the current pace of hydrocarbon & infrastructure development in the country and the neighboring regions as well as L&Ts entry into manufacturing of super-critical boilers and super-critical steam turbines & generators , the prospects for growth appear promising. The Company’s businesses are geared to harness the full potential of the emerging opportunities. CONCLUSION : CONCLUSION "It is our ability to anticipate the future and react accordingly that will determine our success". - HENNING HOLCK Slide 34: THANK YOU

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