Construction major Larsen & Toubro Ltd. announced on Friday, March 21, that Subramanian Sarma, the company’s full-time director and president, has been promoted to Deputy Managing Director and President, according to the exchange filing.
As per the official announcement, Sarma’s appointment will be effective from April 2, 2025, and Sarma’s term period has also be extended to February 3, 2028.
“Mr. Sarma has been instrumental in transforming our Hydrocarbon and Energy businesses, driving innovation, operational excellence, and global competitiveness. His elevation is well deserved, and I am confident that his leadership will further strengthen L&T’s growth trajectory,” said S.N. Subrahmanyan, Chairman & Managing Director of Larsen & Toubro.
Who is Subramanian Sarma?
Subramanian Sarma has been serving as the whole-time director and president of Larsen & Toubro before his Deputy MD appointment on Friday.
Sarma has a graduation degree in Chemical Engineering and later went on to finish his Masters degree from the Indian Institution of Technology (IIT) Mumbai.
With more than 40 years of experience on the job, Sarma spent 30 years with the company handling business in the Middle Eastern region. With L&T, Sarma was responsible for handling the complete Oil and Gas value chain across multiple nations.
Before joining L&T, Sarma led one of the global EPC contractors as their Managing Director for four years in the Oil and Gas Sector in the Middle East, according to the official release.
“I am honored to take on this new role at a time when L&T is witnessing strong growth and expansion. I thank the CMD & L&T’s Board Members for their continued trust. I look forward to contributing to the company’s long-term vision and creating sustainable value for stakeholders,” said Sarma in the official statement.
L&T Share Price
Larsen and Toubro (LT) shares closed 2.03 per cent higher at ₹3,417.35 after Friday’s stock market session, compared to ₹3,349.20 at the previous market close.
LT shares were in focus on Friday after they gained and closed in the green zone as the company announced its move to raise funds through a debt issue.
“We wish to inform you that a meeting of the Board of Directors of the Company is scheduled to be held on Friday, March 21, 2025, inter alia, to seek approval for fundraising by way of (the) debt issue,” said the company in the release.