Larsen and Toubro

Larsen & Toubro Ltd, commonly known as L&T, is an Indian multinational conglomerate
company, with business interests in engineering, construction, manufacturing, technology,
information technology and financial services, headquartered in Mumbai.The company is
counted among world's top five construction companies. It was founded by Henning Holck-
Larsen and Soren Kristian Toubro, who were two Danish engineers taking refuge in India.

Some historical landmarks

In 1965, the firm had been chosen as a partner for building nuclear reactors. Dr. Homi Bhabha,
then chairman of the Atomic Energy Commission (AEC) had in fact first approached L&T in the
1950s to fabricate critical components for atomic reactors. He convinced Holck-Larsen, a friend
with whom he shared an interest in the arts that the company could do it, indeed must do it. L&T
has since contributed significantly to the Indian nuclear programme ... Holck-Larsen was once
asked by a junior engineer why L&T should get into building nuclear power plants when
companies in the US and Germany were losing money on nuclear jobs. He replied: 'Young
man, India has to build nuclear power plants. If not L&T, who will do it?'

During the 1970s, L&T was contracted to work with Indian Space Research Organisation
(ISRO). Its then chairman, Vikram Sarabhai, chose L&T as manufacturing partner. In 1972,
when India launched its space programme, the firm was invited to participate.

In 1976, ECC bid for a large airport project in Abu Dhabi. ECC's balance sheet, however, did not
meet the bid's financial qualification requirement. So it was merged into L&T. ECC was
eventually rechristened L&T Construction and now accounts for the largest slice of the group's
annual revenue.

In 1985, L&T entered into a partnership with Defence Research and Development Organisation
(DRDO). L&T was not yet allowed by the government to manufacture defence equipment but
was permitted to participate in design and development programmes with DRDO. After the
design and development was done,the firm had to hand over all the drawings to DRDO. The
government would then assign the production work to a public sector defence unit or ordnance
factory for manufacture. After a series of successes and positive policy initiatives, the firm today
makes a range of weapon and missile systems, command and control systems, engineering
systems and submarines through DRDO.
Company Structure
There are three key products/services which L&T is engaged in are: Construction and project-
related activity; manufacturing and trading activity; and engineering services. For administrative
purposes, the firm has been structured into five broad categories:

Construction – this covers buildings & factories, heavy civil infrastructure, transportation
infrastructure, power transmission & distribution, water & effluent treatment, metallurgical &
material handling and smart world & communication.

EPC Projects – this includes hydrocarbon engineering, power and power developments;
Manufacturing – this includes defence equipment & systems, heavy engineering, construction,
mining & industrial machinery, industrial valves and electrical & automation systems.

Services: realty, information technology, technology services and financial services.

Others: Hyderabad Metro, Infrastructure Development Projects and other corporate functions.
Financial statements
L&T construction

L&T Construction is a division of Larsen & Toubro (L&T) a major Indian technology, engineering,
construction, manufacturing and financial services conglomerate, with global operations. L&T
addresses critical needs in key sectors - Hydrocarbon, Infrastructure, Power, Process Industries
and Defence - for customers in over 30 countries around the world. L&T is engaged in core high
impact sectors of the economy and our integrated capabilities span the entire spectrum of
'design to deliver'. With over 8 decades of a strong, customer focused approach and a
continuous quest for world-class quality, we have unmatched expertise across Technology,
Engineering, Construction, Infrastructure Projects and Manufacturing.

POWER TRANSMISSION & DISTRIBUTION

A leading EPC player in the field of power transmission, distribution and solar energy, PT&D
offers integrated solutions and end-to-end services ranging from design, manufacture, supply,
installation and commissioning of Transmission Lines, Substations, Underground Cable
Networks, Distribution Networks, Power Quality Improvement projects, Infrastructure
Electrification, Solar PV plants, Battery Energy Storage Systems and Mini / Micro Grid projects.
The business has set benchmarks in capacity, complexity and speed of execution and through
their dedicated business segments offers integrated solutions for a broad spectrum of power
transmission and distribution projects.

The business constructs all types of power evacuation projects from concept to commissioning
on an EPC basis with key focus areas being Air Insulated Substations (AIS) of up to 1200 kV
and Gas Insulated Substations (GIS) of up to 765 kV. PT&D possess the capabilities to deliver
transmission lines from design, manufacture, supply, construction, testing to commissioning of
EHV power transmission lines and turnkey solutions for the construction of microwave towers.

PT&D's ambit of operations also include infrastructure and industrial electrification including
optic fibre cabling solutions for backbone access networks and Utility Power Distribution to
improve the quality of power, smart grids, SCADA systems and distribution reform projects.
Besides being a dominant player in the Indian market, the business enjoys a strong reputation
and significant share of markets in the Middle East, Africa and ASEAN.
The domestic business is organised based on offerings and caters to various T&D utilities,
developers and infrastructure customers such as metros, airports etc.

The Substation Business Unit provides turnkey solutions for Extra High Voltage (EHV) air
insulated / gas insulated substations, Flexible AC Transmission Systems (FACTS), Digital
Substation related solutions and EHV cable systems.

The Transmission Line Business Unit provides complete EPC solutions for overhead
transmission lines. It is well integrated with the digitally-driven, green tower
manufacturing units at Puducherry, Pithampur and Kancheepuram, which have a combined
capacity to produce more than 1.5 lakh tonnes of tower components per
annum. The Kancheepuram facility also houses the worldrenowned Tower Testing and
Research Station.

The Power Distribution Business Unit has been at the forefront of taking electricity to all by
providing a range of EPC services related to urban / rural electrification, augmenting, reforming,
and strengthening of high voltage and low voltage
distribution networks, power quality improvement works and advanced distribution management
solutions.

The Renewables arm of Power T&D business is a single-stop

EPC service provider globally for GW-scale Solar PV, Energy Storage, Microgrid and Hybrid
renewable projects. There are very few players with such strong experience and expertise in
different module technologies, module mounting structures and storage types. The business unit
has accumulated in-depth engineering and construction know-how to execute a vast range of
renewable projects, be it hybrid, floating or linear,
with the best suited technologies for terrain type and tracking. The container integration facility
at Kancheepuram augments the capabilities of the business with an annual capacity to integrate
~ 400 MWh of battery energy storage system with associated intelligent management and
control systems.The initiatives in emerging areas such as Digital Solutions and Electric Vehicle
Charging Infrastructure have made initial wins
and are on track to ensure that the business is future ready.

The international units of the business provide the entire spectrum of Power T&D related
services in Middle East, Africa
and ASEAN regions. Over the past three decades, the Middle East business unit
has earned a strong reputation among the utilities and oil companies in Saudi Arabia, UAE,
Oman, Qatar, Kuwait, and Bahrain, having executed several marquee projects. It enjoys an
enviable track record and garners significant share of T&D
projects awarded every year.The fast – expanding Africa business unit has executed
several landmark projects in Algeria, Egypt, Morocco, Kenya, Ethiopia, Tanzania, Uganda,
Botswana, Mozambique, and Malawi. It has made further inroads into Western& Central Africa
with breakthrough projects in Ghana and Cameroon. With the regional offices strategically
located in Nairobi, Cairo, Johannesburg & Accra to serve the vast continent, the business has
earned a coveted position with a sizeable market share in the addressable segment.In the
ASEAN region, L&T is an established international T&D player to reckon with, holding a portfolio
of prestigious projects spread across Thailand, Malaysia, and Philippines. Larsen & Toubro
Saudi Arabia LLC (LTSA), a whollyowned subsidiary, provides engineering, construction, and
contracting services in the sphere of transmission & distribution in the King.

Projects completed and commissioned

● Two 230 kV Gas Insulated Substations in Bengaluru

● Power Supply Systems for Mumbai Metro Line 3 & Line 7

● 1250+ km of Transmission Lines completed in Madhya

Pradesh, Kerala, etc.

● Distribution Infrastructure improved by adding 2400+

RMUs and 1450 km of cable conversion in Northern part
of India

● 26 substations and 790 km of overhead / underground

transmission corridors in the Middle East, including a
400 kV Substation in UAE and one of the longest 380 kV
Overhead lines in GCC region.

● 275 kV Matang Substation in Sarawak, Malaysia

Major Achievements

● 400 kV & 220 kV Substations & Transmission Line

in Karnataka

● 400 kV Substations & Transmission Line in Rajasthan

● Switchyard package in Gorakhpur

● Power Supply System for Agra Metro

● EHV Cable System package in Bangladesh

● Two 230 kV GIS in Nepal

● A large Solar-cum-Energy Storage Project with 57 MWhr

storage capacity, in Gujarat

● STATCOM / Shunt Reactor / Dynamic Reactive Power

Compensation orders in Saudi Arabia and UAE

● 400 kV TLs in Cameroon, Tanzania, and the Mozambique – Malawi 400 kV

Interconnector

● 225 kV TL in Guinea

● 500 kV Castillejos TL – a major transmission line project in Philippines