Larsen & Toubro Limited

rs,

ento ubro.com SEC/PAM/2019 January 29, 2020 The Secretary BSE Limited Phiroze Jejeebhoy Towers, Dalai Street, MUMBAI - 400 001 STOCK CODE: 500510 National Stock Exchange Of India Limited Exch

₹1,410

, IT & Financial Services. Revenues Credit Ratings Market Cap Professionally Managed Company ₹1,410Bn FY 19 Group (approx.US$ 20 Bn) CRISIL: AAA / Stable ICRA: AAA (Stable) ₹ 1,871Bn 23rd Jan,

₹ 1,871

naged Company ₹1,410Bn FY 19 Group (approx.US$ 20 Bn) CRISIL: AAA / Stable ICRA: AAA (Stable) ₹ 1,871Bn 23rd Jan, 2020 (approx. US$ 26 Bn) Engineering Manufacturing Construction Projects Engineering

0.7%

ing Construction Projects Technology Financial Services L&T – Shareholding Pattern Bharat ETF, 0.7% Others, 8% Mutual Funds & Pvt. Insurance Cos., 18% L&T Employees Trust, 12% Individuals,

8%

on Projects Technology Financial Services L&T – Shareholding Pattern Bharat ETF, 0.7% Others, 8% Mutual Funds & Pvt. Insurance Cos., 18% L&T Employees Trust, 12% Individuals, 21% 30th Se

18%

L&T – Shareholding Pattern Bharat ETF, 0.7% Others, 8% Mutual Funds & Pvt. Insurance Cos., 18% L&T Employees Trust, 12% Individuals, 21% 30th Sep, 2019 Govt. Financial Institutions & I

12%

Bharat ETF, 0.7% Others, 8% Mutual Funds & Pvt. Insurance Cos., 18% L&T Employees Trust, 12% Individuals, 21% 30th Sep, 2019 Govt. Financial Institutions & Insurance Companies, 20% FI

21%

Others, 8% Mutual Funds & Pvt. Insurance Cos., 18% L&T Employees Trust, 12% Individuals, 21% 30th Sep, 2019 Govt. Financial Institutions & Insurance Companies, 20% FII’s & GDR, 20% M

20%

st, 12% Individuals, 21% 30th Sep, 2019 Govt. Financial Institutions & Insurance Companies, 20% FII’s & GDR, 20% Major Institutional Shareholders % Shares Life Insurance Corporation of India

14.3%

ICICI Prudential Life Insurance Co General Insurance Corporation Of India Reliance Mutual Fund 14.3% 4.4% 2.0% 1.8% 1.6% Listed with BSE & NSE • • GDRs listed with LSE and LuxSE • • No promoter

4.4%

Prudential Life Insurance Co General Insurance Corporation Of India Reliance Mutual Fund 14.3% 4.4% 2.0% 1.8% 1.6% Listed with BSE & NSE • • GDRs listed with LSE and LuxSE • • No promoter holdin

2.0%

tial Life Insurance Co General Insurance Corporation Of India Reliance Mutual Fund 14.3% 4.4% 2.0% 1.8% 1.6% Listed with BSE & NSE • • GDRs listed with LSE and LuxSE • • No promoter holding • Un

“1 project (71.16 Km) – Under-implementation Power (Excl.”

Portfolio

4

Project Cost

4

Ex-Services business

1

Services Business

1

Ex-Services business

9M FY20 9M FY 19 Net Revenue EBITDA EBITDA Net % Revenue EBITDA EBITDA % Infrastructure Segment 47704 3110 6.5% 45564 2851 Power Segment 1739 62 3.6% 3044 133 Hydrocarbon Segment 12452 1352 10.9% 10815 906 Heavy Engineering Segment 2216 495 22.3% 1403 356 Defence & Aerospace 3045 559 18.4% 2662 403 Other Segment 3940 886 22.5% 4389 1444 Total (ex-services) 71096 6464 9.1% 67878 6094

Services Business

IT, TS & Mindtree Segment 15786 3314 21.0% 10599 2509 Financial Services Segment 10457 2291 21.9% 9455 2338 Developmental Projects Segment 3869 479 12.4% 3985 560 Total (Services) 30111 6085 20.2% 24039 5407 Total 101207 12549 12.4% 91917 11501 6.3% 4.4% 8.4% 25.4% 15.2% 32.9% 9.0% 23.7% 24.7% 14.1% 22.5% 12.5% Particulars EBIDTA to PAT (9M FY20) Financial Services IT&TS Dev. Projects Ex- Services Corporate Total 2291 3314 479 6464 367 12916 EBIDTA Depreciation, Finance Cost & Tax Expense (971) (1383) (385) (2012) (1280) (6031) (481) (512) - 9 4 (980) Non-controlling interest - - (130) 25 31 (74) Share in profit/(loss) of JV and associate - - - - - 522 PAT from discontinued operations 839 1420 (36) 4486 (878) 6352 Segment PAT as per Advt. Engineering Manufacturing Construction Projects Technology Financial Services 43 Balance Sheet Rs Billion Dec-19 Mar-19 Equity & Reserves Non Controlling Interest Borrowings - Financial Services Development Projects Others Sources of Funds Fixed Asset

Project Cost

Rs 115 bn Rs 428 Bn Rs 86 Bn Rs 12 Bn Total Project Cost (Dec 2019) Equity Invested at SPV level (Dec 2019) Balance Equity Commitment/ICD/VGF (Dec 2019) Engineering Manufacturing Construction Projects Technology Financial Services 47 Major Opportunities Roads & Highways National & State Highways Expressways Special Bridges Tunnels Elevated Corridors Smart Cities Surveillance systems Optical fiber layout Traffic mgmt system Smart Grid Defence & Aerospace Naval Vessels Submarines Gun & Missile Systems Defence Electronics Aerospace Equipment Railways Metro Railways High speed Rail Track laying / Track modernization for conventional railways Railway Electrification Water Water transmission & distribution Lift Irrigation schemes Water Treatment (Incl. Desal) Effluent & Waste water Treatment Power T&D Transmission Lines Substations Distribution Networks Green Energy corridors Solar EPC Hydrocarbon Onshore projects in Refineries and petrochemicals Offshore projects Fertilizer plants Oil & Gas