Larsen & Toubro (L&T) is using generative AI for sustainable progress, said Chairman and Managing Director S N Subrahmanyan at the company’s 79th annual general meeting on July 4.
Using AI for Better Processes
Subrahmanyan explained that generative AI is improving the company’s processes from tendering to design execution and maintenance. L&T has also launched a platform to connect data scientists with experts to create innovative solutions.
Advanced Technologies
L&T is adopting advanced sensors, embedded software, and robotics. The company has connected over 15,000 assets globally to a central IoT platform, making project execution faster, safer, and more sustainable.
Strong Financial Performance
L&T’s stock grew by 77% in 2023-24, surpassing the Nifty 50 growth index. The company’s order inflow exceeded Rs 3 lakh crore, a 31% increase from the previous year, driven by international wins in Hydrocarbon and Infrastructure. The order book stands at Rs 4,75,809 crore, with a 20% growth. Revenue reached Rs 2,21,113 crore, and Profit After Tax was Rs 13,059 crore, showing 21% and 25% growth respectively.
Diversified Portfolio
Subrahmanyan highlighted that L&T’s geographical diversification reduces geopolitical risks. Domestic orders make up 62% of the order book, with 35% from the Middle East and 3% from other regions.
Increasing Female Participation
L&T aims to increase female employees to 10% by 2025-26, with special career schemes and women-friendly office facilities.
Addressing Labor Shortages
Last month, Subrahmanyan mentioned that L&T is facing a “severe” shortage of skilled labor due to extreme weather and election disruptions.
