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Larsen & Toubro (L&T) Company Profile

February 2013

Larsen & Toubro Ltd. video

Larsen & Toubro (L&T) Company Profile

Larsen & Toubro Ltd. video

L&T Corporate Movie

Executives

A. M. Naik, Group Executive Chairman
Mr. A. M. Naik heads an organisation that is among the most admired companies in the country, reputed for the technological sophistication that characterises its projects and products, for its contribution to the development of indigenous engineering capability and, most of all, for its inherent professionalism and the value systems that lie at its core. Few heads of companies mirror the values of the organisation as faithfully as Mr. Naik. Dynamism, professionalism and a high ethical quotient are synonymous with Mr. Naik.


Joining the Company as a Junior Engineer in 1965, Mr. Naik rapidly rose to positions of increasing responsibility as he moved from General Manager to Managing Director and CEO, culminating in his appointment as Chairman on December 29, 2003. Mr. Naik has successfully led the Company through some of its most challenging times and enabled it to emerge stronger. His broad global perspective has seen the Company expanding its horizons beyond domestic frontiers, positioning itself to become a true international player.


Transforming L&T into a world-class conglomerate has always been Mr. Naik's dream. He has lead a broad ranging, transformational process aimed at boosting shareholder value.
K. Venkataramanan , Chief Executive Officer & Managing Director
Mr. K. Venkataramanan has been associated with L&T with over four decades in various positions of responsibility. A graduate in Chemical Engineering from IIT, Delhi, he joined L&T in 1969. After a series of successful assignments, he was elevated to the Board of Directors of the Company in May, 1999, and appointed Chief Executive Officer and Managing Director on April 1, 2012.


Mr. Venkataramanan is credited with helping in the transformation of L&T from a fabrication-driven EPC contractor to a technology led player. He also laid the foundations for project engineering & execution as well as conceptualized and designed the water front load-out facility at Hazira, Surat for large offshore platforms.


Early in his career, he was deputed for specialised training to Denmark in product engineering & plant design, and to the USA for process engineering (1973). In 1983, he took over as Head of Special Fabrication Shops, Production Engineering and Plant Engineering. Later, he was instrumental in developing L&T's extensive capabilities in the 3D CAD design and integrated project management. L&T’s Centers of Engineering Excellence for the hydrocarbon sector (L&T Chiyoda) and the power sector (L&T Sargent & Lundy) as also the Company’s process design capability through a Front End Engineering Design group are largely the result of Mr. Venkataramanan’s initiatives and direction.


Other professional landmarks include playing a leadership role in L&T’s Power business initiative through EPC jobs in gas and coal based power plants including Balance of Plant in India and abroad. Mr. Venkataramanan implemented Real Time Strategic Change (RTSC) processes in the Company for high performance team building. He introduced various business solutions such as global sourcing, skill building, risk management, benchmarking, contracts management, and intense monitoring of value drivers encompassing financial and operational parameters.


Seeking to bolster the Company’s international presence, Mr. Venkataramanan formed a dedicated International Business Development Cell. Under his leadership, L&T’s project teams successfully executed high technology projects in Qatar, Saudi Arabia, Malaysia, Kuwait, Oman and Sri Lanka. IT-enabled Engineering Services Centers established by him also contributed to tapping global opportunities.


He is a Distinguished Alumni Awardee of IIT Delhi in 2005. He is the first Asian to be appointed Chairman of the Board of Directors of the ‘Engineering & Construction Risk Institute, Inc.’, USA for a two year term ending in May 2010. He is an Honorary Fellow of the Institute of Chemical Engineers (IChemE), UK – the second Indian to receive this recognition from the world’s most reputed body in chemical engineering space. He is also a Fellow of the Indian Institute of Chemical Engineers, and currently the Chairman of the Capital Goods Committee of FICCI.


Mr. Venkataramanan has received recognition at both the national and international levels. Accolades include the ‘Davidson Frame Award’ conferred by IPMA, Switzerland, for strengthening the Project Management Profession in India and abroad - 2002. He was honoured with ‘Chemtech – Business Leader of the Year’ award for plant & machinery - 2005; and the ‘Lala Shriram Award for Leadership in Chemical Industry’ - 2006. He received the title of IPMA Level ‘A’ assessor in December 2008 – the second Indian to be so honoured. In May 2011, he was conferred an Honorary Doctorate in Project Management by the University of Petroleum & Energy Studies (UPES) Dehradun. The Association of Business Communicators of India (ABCI), India’s largest body of professional communicators, presented Mr. Venkataramanan the ‘Global Business Communicator Award’ in November 2011 for his charismatic ability to reach out to people, and transmit thought and idea to diverse target groups.


An ardent sportsman, he is as much at home on the tennis and badminton courts as on the cricket pitch. A technology aficionado himself, he is keen to encourage the growth and development of young engineering talent.
M. V. Kotwal, Whole-time Director & President
Mr. M. V. Kotwal is a B.E. in Mechanical Engineering from the University of Mumbai. On graduation, he joined L&T as a junior engineer at its works in Powai.


After a brief stint in the Light Fabrication Workshops, he was chosen as part of a select group that would execute orders for India's Nuclear Power Programme. He was associated in various capacities with the manufacture of India's first Nuclear Power Reactor as well as all the critical reactor equipment. He is now responsible for two Operating Companies - Heavy Engineering and Shipbuilding within the Division. The Heavy Engineering Operating Company comprises different Strategic Business Units dealing with Domestic as well as International business covering Equipment & Systems for Refineries, Fertilizer & Chemical Process plants, Power Plants, Nuclear Power, Defense and Aerospace industries. The Shipbuilding Operating Company caters to shipbuilding in commercial and defense sectors.


Currently, in addition to Mumbai & Hazira, he is responsible for facilities located at 5 other work centres in India and also a JV with Zubair Corporation, L&T Heavy Engineering LLC in Oman. He is also responsible for two new facilities now nearing completion: one for Special Steels & Heavy Forgings (a JV with NPCIL) in Hazira, and a large Shipyard in Kattupalli, near Chennai.


Under his leadership, the Heavy Engineering Division, with its strong engineering capabilities and technological strengths, has taken a number of successful initiatives to emerge as a significant global player in the process plant equipment market. He has been instrumental in establishing L&T as a leading manufacturer of equipment for strategic sectors of nuclear, defense and aerospace. The Heavy Engineering Division is ranked amongst the top five fabrication companies in the world. It has exported high technology plant and equipment to over 40 countries including the USA, the UK, France, China and Middle East.


Association with apex bodies:


He was Co-Chairman of the Confederation of Indian Industry's National committee on Defense and a member of the Vijay Kelkar Committee tasked with advising the Government of India on restructuring defense production in the country. He was elected as Chairman of Process Plant & Machinery Association of India (PPMAI) for 2005-06 and 2006-07. He was awarded "Business Leader of the Year 2009" by the Chemtech Foundation, Mumbai for development of the engineering industry in India. He was the representative member from India for the Technical Advisory Group comprising eminent scientists & engineers from seven countries for the multi-billion dollar international program, International Thermo-Nuclear Experimental Reactor (ITER).


He is a Fellow of the Indian National Academy of Engineering (INAE) and was a member of its Sectional Committee-IX (Nuclear Power & Energy Technologies) from 2010 to 2012. He is appointed as Chairman of Federation of Indian Chambers of Commerce & Industry (FICCI)'s Committee on Defence and joined their National Executive Committee since 2011 as a Special Invitee.
S. N. Subrahmanyan, Whole-time Director & Sr. EVP
Mr. S.N. Subrahmanyan is a Civil Engineer with post graduation in Management. Since passing out in 1984, he has been working with L&T. He started off as project planning engineer involving costing and job planning, and was soon handpicked and was instrumental in developing the MIS, Budgets and Strategic Planning for ECC Division of L&T. He has also undergone the Executive Management Programme from London Business School.
R. Shankar Raman, Whole-time Director & Chief Financial Officer
Mr. R. Shankar Raman, aged 54 years, is a qualified Chartered Accountant and a Graduate of the Institute of Cost & Works Accountants of India. Over the past 31 years, Mr. Shankar Raman has worked for leading listed corporates in varied capacities in the field of finance.

Mr. Shankar Raman joined L&T Group in November 1994 to set up L&T Finance Limited, a wholly owned Subsidiary. As its first CEO, Mr. Shankar Raman successfully built the financial services business from its inception assembling a team of professionals, establishing credit lines and building its asset and revenue base. The Company reported profits in its very first year of operations and has remained consistently profitable since then.

In the year 2000, after 6 years at the helm at L&T Finance Limited, Mr. Shankar Raman was transferred to Larsen & Toubro Limited to oversee its Finance, Accounts & Taxation functions. Over the next 10 years, Mr. Shankar Raman's responsibilities expanded to include Risk Management, Investor Relations and Legal functions. During these years, Mr. Shankar Raman led the Company's initiative to structure some award winning Foreign Currency Convertible Bonds and GDRs, apart from augmenting the rupee dominated resource base. Mr. Shankar Raman was also instrumental in establishing an enterprise-wide risk management framework for the Company. Mr. Shankar Raman's contribution includes upgradation of the Company's processes for Investor Relations which enabled the Company to win Best IR Awards at Asian level. In the year 2012, Mr. Shankar Raman won the "Best CFO Award" amongst the Asian Infrastructure companies in a poll conducted by Institutional Investor Magazine for the sell side analysts.


Mr. Shankar Raman was appointed as Chief Financial Officer of Larsen & Toubro Limited on September 6, 2011, and subsequently elevated to the Board on October 1, 2011. He presently oversees the finance functions across the L&T Group. Mr. Shankar Raman is also on the Board of Management of several companies within the L&T Group.
Shailendra Roy, Whole-time Director & Sr. EVP
Mr. Shailendra Roy holds a Bachelor of Technology degree, and is a graduate of the Wharton Advanced Management Program. He holds directorial level responsibility for the execution of coal & gas based power projects on a turnkey basis in India and overseas. Additionally, Mr. Roy also handles the development of power projects and Corporate Affairs.


Prior to his elevation to the Board of L&T, he was Senior Vice-President and a Member of Executive Management Committee of the Company. In this role, Mr. Roy had contributed significantly to L&T's foray into shipbuilding, railways, power projects and was responsible for the growth of new business ventures including public-private partnership initiatives.


Prior to joining L&T, Mr. Roy was Managing Director & CEO of Bharat Heavy Plates & Vessels Ltd., a Government of India undertaking.


Mr. Roy started his career in 1975 as an Engineer with Bharat Heavy Electricals Limited's (BHEL) manufacturing unit at Haridwar.


He joined L&T as Head of Business Development in 2000, and was tasked with initiating a major foray into road projects for National Highways Authority of India. He was associated with marketing and business development of power projects (thermal & hydro) substations, transmission lines, railway electrification, highways and transportation.

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