Larsen & Toubro Limited has categorized four senior officials as Senior Management Personnel (SMP) effective July 1, 2026. The move follows their promotion to the rank of Senior Vice President within the conglomerate's various business verticals.

The appointments were disclosed in a filing to stock exchanges on October 7, 2026. The individuals promoted include leaders from Corporate Human Resources, CarbonLite Solutions, Transportation Infrastructure, and Residential and Commercial Buildings divisions.

Promoted leadership team

The company identified the following officials for SMP status pursuant to SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015:

Background of appointees

C Jayakumar, who joined L&T on May 4, 1988, brings over 38 years of experience in strategic human resource management and organizational transformation. He holds a doctorate in leadership and serves as National President of the National HRD Network.

Suresh Kumar Narang joined the company on February 10, 2010, as Project Director – Nabha Power. With over four decades of experience in the power sector, he previously led India's first Ultra Supercritical Power Project at Khargone and transformed Nabha Power Ltd into an efficient thermal plant before assuming his current role in April 2026.

S Ramkumar, an employee since July 24, 1991, heads the Transportation Infrastructure Division. His tenure includes leading landmark projects such as the Mumbai-Ahmedabad High-Speed Rail and Dedicated Freight Corridors, alongside international expansions in Bangladesh and the UAE.

Sriraman T joined as a Graduate Engineer Trainee in 1992 and has over 34 years of experience across project execution, contracts, and business strategy within L&T Construction. He currently oversees strategy and pan-India operations for the Residential, Commercial Buildings and Factories IC.

Larsen & Toubro Limited disclosed information regarding its non-convertible debentures (NCDs) for the half year ended September 30, 2026. The total amount of debt securities outstanding stands at ₹10,300 crore, with no reduction in principal during the period.

The disclosure was made pursuant to SEBI Master Circular specifications related to ISINs for debt securities. The company listed six distinct NCD series with varying maturity dates and coupon rates.

Debt security overview

The portfolio comprises instruments maturing between April 2028 and January 2035. The largest single tranche is the ₹4,000 crore issue maturing in 2035, carrying a coupon of 7.20%. All securities pay interest annually and contain no embedded options.

What the numbers show

The weighted average cost of debt across these six tranches is approximately 7.32%. Notably, the most recent issuance in September 2026 carries a 7.40% coupon, which is higher than the 6.35% rate secured in June 2025 for a similar three-year tenor. This suggests a marginal increase in borrowing costs for shorter-duration instruments over the last 15 months.