October 2020 \ Interviews \ BUSINESS—CORPORATE INTERVIEW
“Shareholders will be rewarded when normalcy returns”

Larsen & Toubro (L&T), India’s leading engineering ...

By Sanjeev Sharma

Will you revive your buyback offer to reward L&T shareholders or will you consider a special dividend?

As explained earlier, it will be prudent to have a sizable cash buffer during such periods of Black Swan uncertainty. Once the economic environment returns to normalcy and the core businesses of L&T start generating cash on a consistent basis, we will have a favourable view of rewarding shareholders in the most tax efficient manner.

Which is the next set of non-core assets on the block?

We keep conducting a strategic review of our business portfolio from time to time and take a call on the basis of a consistent long-term planning process. As per this review, we may divest or dilute certain concession businesses of L&T such as L&T Metro (Hyderabad) and Nabha Power Ltd as and when the economic situation normalises.

How many employees are going to Schneider? Does that mean all employees are transferred?

Yes almost, all employees of L&T Electrical & Automation, around 5,000 of them, are transferred to Schneider Electric.