Company weighs viability of less-than-Rs 100 cr businesses
Larsen & Toubro (L&T) has shut down its packaging business as part of a portfolio restructuring.
The engineering and construction major, after having decided on the demerger and sale of its 16 million tonne-plus cement business, is now reviewing the operations of its small-sized businesses as well.
While the first to come under the scanner is its packaging business, the next in line is its glass business, while several other small businesses are to examined in terms of financial viability.
The company is primarily evaluating its less than Rs 100 crore businesses which are more of a drag in terms of their ability to contribute to the company
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.