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Company News: Companies Analysis, Updates & Insights | The HinduBusinessLine

Boiler blast at Vedanta plant in Chhattisgarh kills 11, injures 22 Madhya Pradesh CM says basmati rice from the State is exported to 47 nations IMD forecast of below-normal Indian monsoon poses risk to agriculture, economy Sify data centre arm IPO on track and will be timed with market conditions, says CFO BALCO deploys AI humanoid agent for real-time training, operations and safety Funskool clocks $40 million revenue in FY26, despite tariff headwinds Val-Met Engineering secures ₹200 crore funding from Nuvama Crossover Opportunities Funds BEML secures $36.38 million export order from West Asia region Chitale Bandhu Mithaiwale to inaugurate new production facility near Pune NCLT allows personal guarantee case against Videocon promoter Dhoot No immediate impact of US blocking Iranian vessels on India’s crude cargoes Indian spacetech startups shift gears from R&D to scalable manufacturing Protest by factory workers in Noida, Faridabad turns violent Sharon Pais takes over as Head of Myntra Nadir Godrej to retire as chairperson, Pirojsha Godrej named successor APAC emerges as growth engine amid data sovereignty push: IBM’s Hans Dekkers Unicharm India expands Diabetes Care portfolio Sarovar Hotels sees traction in tier II cities, pilgrimage towns Motherson Sumi Wiring says no impact on operations amid Noida labour protests Aster DM Healthcare invests ₹96 cr to expand Aster Whitefield by 159 beds Ola Electric launches S1 X+ 5.2 kWh with 4680 Bharat Cells India’s active LED display market hits ₹2,000 crore China’s TCL is said to consider stake sale in India TV business Strengthening R&D, investment key for Indian drugmakers to lead globally: Nadda Piper Serica deploys ₹210 crore in 33 start-ups; to invest remaining ₹63 crore in 2-3 months NCLAT adjourns hearing on Vedanta plea against selection of Adani's bid for JAL GE Aerospace signs contract with Indian Air Force to help establish in-country depot for F404-IN20 engines RateGain launches AI-driven hotel marketing certification programme Q4 Results This Week: HDFC Bank, ICICI Bank, Wipro, Just Dial among 42 companies reporting GE Aerospace scales AI from pilots to production; India anchors global capability Juno Joule Bio Fuels begins construction of compressed bio-gas project in Telangana Mcap of 8 of top-10 most valued firms jumps ₹4.13 lakh cr; HDFC, ICICI Bank top gainers Coal India absorbs cost surge to shield consumers from price spike Shell steps up LNG supplies to India, wins major fertiliser tenders after Gulf disruptions Luxury carmakers hope West Asia ceasefire will lift consumer sentiment Pharma and healthcare companies to face continued margin pressure: HDFC Securities Maruti Suzuki to launch 4 EVs by 2031 India Inc flags surge in cost of packaging raw material, seeks relief measures Orbicular gets USFDA’s tentative nod for generic Semaglutide Injection in partnership with Apotex Reliance seeks government approval to buy Iranian crude oil IPL 2026: Ad volume witness marginal dip in first 13 matches West Asia Crisis: Induction cooking may consume 13-27 GW power Tractor sales cross 10 lakh mark in FY26 on strong rural demand, GST cut India to continue buying Russian crude oil India comfortable on crude and LPG supply on diversified sourcing, says IOC chairman Vingroup plans 60,000 EV fleet as part of $6.5 billion Maharashtra push TVS Srichakra assumes US sponsorship rights to boost global brand visibility Vedanta Aluminium signs pact with two downstream companies Shapoorji Pallonji group reiterates call for public listing of Tata Sons THINK Gas launches GIS platform for instant PNG availability check, faster connections Swiggy co-founder Nandan Reddy to exit; 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L&T eyes scale-up of industrial electronics business from Coimbatore campus by next year
2026-04-29 · via Company News: Companies Analysis, Updates & Insights | The HinduBusinessLine
Prashant Chiranjive Jain, Head, Corporate Centre, L&T

Prashant Chiranjive Jain, Head, Corporate Centre, L&T

As Larsen & Toubro (L&T) forays into the industrial electronics segment and sets up a new business vertical, L&T Electronic Products & Systems (LTEPS), the engineering major is set to anchor manufacturing operations for this out of Coimbatore.

“We have a 40-acre campus in Coimbatore, and we have commissioned two lines of PCB assembly, that is now starting off with making DC-DC and AC-DC converters for chargers and some orders we have received from a sister company,” Prashant Chiranjive Jain, Head, Corporate Centre, L&T, told businessline in an interaction.

“We will be setting up a ground-plus-three larger building of approximately 20,000 sq ft in the same campus,” he added.

The new business vertical will focus on power electronics, automotive electronics, industrial robotics and Electronics System Design and Manufacturing (ESDM), among others, and will leverage L&T’s existing precision engineering and defence manufacturing strengths in Coimbatore. The idea is to provide robust and secure hardware and software for the country’s electronics needs, Jain said.

G+3 building

“The entire business is staffed. We have got about 400 employees on the ground, the first two lines are up and running, and the additional G+3 building is in the stage of planning and permit. The aim is to get the G+3 complex to be up by the end of the year,” added. He anticipates that by early next year, the division will start seeing “meaningful scale.”

LTEPS’ focus will span strategic electronics such as existing defence systems like radar, fire control, missile systems, power electronics including battery energy storage systems, central inverters, grid converters, automotive electronics such as EV drivetrain products and motor control units (MCUs), affordable ADAS systems, industrial robotics and automation systems, and the full-stack electronic system design and manufacturing (ESDM).

One of their first products is a motor-control-unit platform for an electric vehicle (EV) motor. “Currently, we are launching in three variants, which is about 60 kilowatt to 300 kilowatt, which will be suitable for the small three-wheeler, four-wheeler commercial vehicle,” he said. “We have got an anchor customer. And we have got a very positive response for this product,” he added.

The division is also set to benefit from synergies with the conglomerate’s existing ventures, such as L&T Technology Services and the semiconductor fabless firm L&T Semiconductor Technologies. L&T Technology Services provides design services to global clients, but currently has a gap in manufacturing services. Similarly, L&T Semiconductor can complement L&T Technology Services by designing SOCs (system-on-chip) for its electronic products.

In the current Indian electronics ecosystem, Jain noted that it is largely high-value, low-IP-driven manufacturing, and L&T is looking to focus on an IP- and R&D-led business. “We want to create value; we do not want to compete and create a competitive pressure in the market,” he said. The division will be engaged in R&D, design, and technology collaboration in electronics, and the executive anticipates it will take about 2 years to qualify and test the product across all standards.

However, he anticipates access to specialised R&D talent and building a robust supplier ecosystem around Coimbatore to be among the key challenges. The workforce is expected to grow from the current 400 to around 800 employees as the business ramps up, he added.

Published on April 29, 2026