L&T judged best-managed company in India
07 Mar 2008
Larsen & Toubro Ltd (L&T) been judged India's Best Managed Company by business magazine Business Today-Ernst & Young.
A M Naik, chairman and managing director of L&T, received the award from the union minister of commerce and industries, Kamal Nath in Mumbai on Wednesday 5 March.
The Business Today-Ernst Young study covered more than 4,900 companies that are listed on the BSE and the NSE, which were rated on parameters that included management leadership, business and operational strategies, best practices, corporate governance, corporate social responsibility, growth, profitability, operating efficiency wealth creation for stakeholders.
"It is a tribute to enlightened and professional management team at L&T, where empowerment and accountability are of paramount importance, said Naik. "In 70 years of existence, L&T has created a management culture that is rooted in ethics, integrity, and a deep sense of patriotism. We sincerely believe that nation building is at the core of all our activities. L&T is a truly professionally managed company with no promoter family, but where every employee has a strong sense of ownership."
