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Larsen & Toubro
Larsen & Toubro Limited, abbreviated as L&T, is an Indian multinational conglomerate, with interests in industrial technology, heavy industry, engineering, construction, manufacturing, power, information technology, defence and financial services. It is headquartered in Mumbai, Maharashtra.
L&T was founded in 1938 in Bombay by Danish engineers Henning Holck-Larsen and Søren Kristian Toubro.
As of 31 March 2022, the L&T Group comprises 93 subsidiaries, 5 associate companies, 27 joint ventures and 35 jointly held operations, operating across basic and heavy engineering, construction, realty, manufacturing of capital goods, information technology, and financial services.
On 1 October 2023, S N Subrahmanyan took charge as Chairman and Managing Director of L&T.
Henning Holck-Larsen and Søren Kristian Toubro were in India to represent the interests of the Danish dairy equipment manufacturer FLSmidth when they founded L&T through an oral agreement in 1938. The company was legally incorporated in 1946.
The start of World War II in 1939 and the resulting blockade of trade, led Larsen and Toubro to undertake jobs and provide service facilities. The German invasion of Denmark in April 1940 stopped supplies of Danish products. The war-time need to repair, refit, and degauss 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. The internment of German engineers in India who were to construct a soda ash plant for the Tata Group gave L&T a chance to enter the field of installation.
In 1946, they incorporated Engineering Construction & Contracts Ltd. (ECC) to focus on construction projects. ECC now exists as the construction division of L&T. By 1947, the company represented the manufacturers of equipment used to manufacture products such as hydrogenated oils, biscuits, soaps and glass. In 1947, the company signed an agreement with Caterpillar Tractor Company to market 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.
In 1947, the firm set up offices in Calcutta and Madras and New Delhi. In 1948, 22 hectares (55 acres) of undeveloped marsh and jungle was acquired in Powai, Mumbai. In December 1950, L&T became a public company with a paid-up capital of ₹20 lakh (equivalent to ₹22 crore or US$2.6 million in 2023). The sales turnover in that year was ₹1.09 crore (equivalent to ₹120 crore or US$14 million in 2023). In 1956, a major part of the company's Bombay office moved to ICI House in Ballard Estate, which would later be purchased by the company and renamed as L&T House, its present headquarters.
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Larsen & Toubro
Larsen & Toubro Limited, abbreviated as L&T, is an Indian multinational conglomerate, with interests in industrial technology, heavy industry, engineering, construction, manufacturing, power, information technology, defence and financial services. It is headquartered in Mumbai, Maharashtra.
L&T was founded in 1938 in Bombay by Danish engineers Henning Holck-Larsen and Søren Kristian Toubro.
As of 31 March 2022, the L&T Group comprises 93 subsidiaries, 5 associate companies, 27 joint ventures and 35 jointly held operations, operating across basic and heavy engineering, construction, realty, manufacturing of capital goods, information technology, and financial services.
On 1 October 2023, S N Subrahmanyan took charge as Chairman and Managing Director of L&T.
Henning Holck-Larsen and Søren Kristian Toubro were in India to represent the interests of the Danish dairy equipment manufacturer FLSmidth when they founded L&T through an oral agreement in 1938. The company was legally incorporated in 1946.
The start of World War II in 1939 and the resulting blockade of trade, led Larsen and Toubro to undertake jobs and provide service facilities. The German invasion of Denmark in April 1940 stopped supplies of Danish products. The war-time need to repair, refit, and degauss 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. The internment of German engineers in India who were to construct a soda ash plant for the Tata Group gave L&T a chance to enter the field of installation.
In 1946, they incorporated Engineering Construction & Contracts Ltd. (ECC) to focus on construction projects. ECC now exists as the construction division of L&T. By 1947, the company represented the manufacturers of equipment used to manufacture products such as hydrogenated oils, biscuits, soaps and glass. In 1947, the company signed an agreement with Caterpillar Tractor Company to market 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.
In 1947, the firm set up offices in Calcutta and Madras and New Delhi. In 1948, 22 hectares (55 acres) of undeveloped marsh and jungle was acquired in Powai, Mumbai. In December 1950, L&T became a public company with a paid-up capital of ₹20 lakh (equivalent to ₹22 crore or US$2.6 million in 2023). The sales turnover in that year was ₹1.09 crore (equivalent to ₹120 crore or US$14 million in 2023). In 1956, a major part of the company's Bombay office moved to ICI House in Ballard Estate, which would later be purchased by the company and renamed as L&T House, its present headquarters.