Larsen & Toubro
Larsen & Toubro (India) is responsible for developing the launcher system for the nuclear-capable short-range surface-to-air Akash missile system for the Indian nuclear arsenal.
Larsen & Toubro, based in India, is a technology, engineering, construction and manufacturing company. Its operating divisions include hydrocarbon, infrastructure, power, process industries, and defence.[a]
In the financial year ending 31 March 2016, Larsen & Toubro generated revenues of Rp 1,026.3 billion (€ 13.7 billion), resulting in an operating income of Rp 80.9 billion (€ 1.1 billion) and a net income of Rp 72.2 billion (€ 962.5 million).[b]
Larsen & Toubro Limited
L&T House, Ballard Estate
P. O. Box: 278,
Mumbai 400 001,
+91 22 6177 4200
Larsen & Toubro is responsible for developing the launcher system for the nuclear-capable surface-to-air Akash missile system developed by India’s state-owned Defence Research and Development Organisation (DRDO).[i] According to defence sources, the short-range missile has a strike range of 25 km and is capable of carrying a nuclear warhead of 50kg.[ii]
In August 2015, it was reported that the Indian Defence Ministry intended to free Rp 50 billion for the procurement of Akash missile systems for the Air Force. Larsen & Toubro is one of the companies mentioned as likely to receive major contracts.[iii]
The following financial institutions have made approximately US$ 11,101 million available to this producer since January 2013.
- A.K. Group
- Aditya Birla Group
- Altius Finserv Private
- Axis Bank
- BNP Paribas
- Commonwealth Bank of Australia
- Corpbay Financial Services
- Credit Suisse
- Deutsche Bank
- Edelweiss Financial Services
- Equator Corporate Services
- Export Development Canada
- Franklin Resources
- General Insurance Corporation of India
- Goldman Sachs
- HDFC Bank
- Housing Development Finance Corporation
- ICICI Bank
- L&T Employees Welfare Foundation
- Life Insurance Corporation of India
- LKP Group
- Mata Securities India
- Mitsubishi UFJ Financial
- Mizuho Financial
- Norwegian Government Pension Fund – Global
- Reliance Capital
- Royal Bank of Scotland
- SPA Group
- Standard Chartered
- State Bank of India
- Sumitomo Mitsui Financial
- Sumitomo Mitsui Trust
- Taurus Group
- Trust Investment Advisors
- Unit Trust of India
- Viel & Cie
- Waddell & Reed
- Yes Bank
This page was last updated 29 November 2016.
[a] Larsen & Toubro, “Overview”, Website Larsen & Toubro (www.larsentoubro.com/corporate/about-lt-group/overview/), viewed June 2016.
[b] Larsen & Toubro, “Statement of Audited Consolidated Financial Results for the Year Ended March 31, 2016”, Larsen & Toubro, May 2016;
Thomson Reuters Eikon, “Larsen & Toubro Ltd – Fundmentals”,Thomson Reuters Eikon, viewed June 2016.
[i] L&T Heavy Engineering, “Missile launchers”, Website L&T Heavy Engineering (www.larsentoubro.com/heavy-engineering/products-services/defence-aerospace/land-weapon-systems/missile-launchers/), viewed June 2016;
Larsen & Toubro, “Annual review 2014-15”, Larsen & Toubro, May 2015; (investors.larsentoubro.com/upload/AnnualRep/FY2015AnnualRepL&T%20AR%202015_LRS.pdf);
Army Technology, “Akash Surface-to-Air Missile System, India”, Website Army Technology (www.army-technology.com/projects/akashsurfacetoairmis/), viewed May 2016.
[ii] The Times of India, “Nuclear-capable Akash missile test fired”, Website The Times of India, 13 December 2007 (timesofindia.indiatimes.com/india/Nuclear-capable-Akash-missile-test-fired/articleshow/2620568.cms);
Rout, H.K., “Of 9 trials, Akash Failed in 2”, Website The New Indian Express, 27 November 2014 (www.newindianexpress.com/states/odisha/2014/11/27/Of-9-Trials-Akash-Failed-in-2/article2543332.ece);
Rout, H.K., “DRDO Registers Another Success with Akash”, Website The New Indian Express, 14 April 2016 (www.newindianexpress.com/states/odisha/DRDO-Registers-Another-Success-with-Akash/2016/04/14/article3379416.ece).
[iii] Pubby, M, “Defence ministry to clear Rs 5,000-crore procurement contract for ‘Made in India’ Akash missile systems”, Website The Economic Times, 8 August 2015 (economictimes.indiatimes.com/articleshow/48397910.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst).