S N Subrahmanyan, Larsen & Toubro’s new chairman and managing director asked the company’s employees to be future-ready.
In his first letter as the Chairman of L&T Subrahmanyan stated that the focus has to be performance and they should be future-ready as massive changes are occurring in the ecosystem including adopting sustainability as a way of life and digitalisation which is impacting every aspect of the business.
“We cannot afford to rest on our laurels for our customers will continue seeking excellence from us every day. We must believe in the power of the brand L&T and need to do whatever is required to do our best to work, lead and help drive the value systems of the culture that is associated with the same. We must believe in the power of technology and keep harnessing its tremendous potential to keep improving our productivity and efficiency. Timely delivery and safe way of work must remain our way of life,” said Subrahmanyan in his letter.
He further added that the company’s order book is at its most robust with market cap and share prices being at the highest.
“We should embrace the commitment to diversity, treating people on merit and being inclusive in our approach. This helps in propelling creativity and getting people together to find solutions for complex matters,” added Subrahmanyan.
During Subrahmanyan’s tenure as a CEO from 2017 L&T’s revenue increased from Rs.110,656 Cr in March 2017 to Rs.186,270 Cr in March 2023 (Source: Trendlyne), the profit after tax from Rs.6041 crore in March 2017 to Rs.10,471 crore in March 2023. The company’s debt-equity ratio reduced from 1.35 in March 2017 to 0.69 in March 2023.