Anil Manibhai Naik (AM Naik) is the Chairman Emeritus of the company Larsen & Toubro. Over the course of his life, Anil Manibhai Naik has donated a significant amount of sum to charitable causes. The Government of India has honoured AM Naik with Padma Vibhushan. Reports suggest that he holds a total of 9 stocks worth more than Rs 171.3 crore.
New Delhi: Anil Manibhai Naik (AM Naik) is the Chairman Emeritus of the company Larsen & Toubro. Over the last few years, the company has achieved a market cap of more than Rs 4,19,000 crore. The man behind the company’s impressive growth is AM Naik. His father, Manibhai Naik was a freedom fighter who also worked in the development of rural India. Anil Naik is renowned for his business intellect and his ability to adapt to the evolving world.
Anil Manibhai Naik’s background
Born in the year 1965 in Gujarat, AM Naik graduated from Birla Vishwakarma Mahavidyalaya Engineering College. He wanted to get a job in Larsen & Toubro, however, he failed to earn a position due to him not being able to meet the requirements. AM Naik joined Nestor Boilers Company and gained experience as an assistant engineer.
Becoming a general manager
AM Naik was a hardworking man, and noticing his dedication to his job, he was promoted to a higher position when he was not even 25 years old. He managed a team of 800 people efficiently. His prospering professional life gave him confidence to excel in all aspects of life. Despite being at a high position, his salary was below Rs 1000 a month. On 23 November 1989, his professional journey picked up the pace when he joined the board of L&T Limited.
CEO of Larsen & Toubro
In the year 1999, AM Naik was appointed as the CEO of Larsen & Toubro company. During the same time, he also served as the Managing Director. In 2003, he became the Chairman of the company. This position allowed him to take the company forward in terms of its global growth. He completely transformed the establishment and made it a trusted brand among global customers.
In 2017, AM Naik stepped down from the executive responsibilities. He was appointed as the Honorary Chairman of L&D in the year 2023. According to reports, his net worth in the year 2016 was around Rs 400 crore; he earned more than Rs 137 crore in 2017-18.
Philanthropy
Over the course of his life, Anil Manibhai Naik has donated a significant amount of sum to charitable causes. In 2016, he had taken a vow to donate 75 percent of his lifetime income to charities. It was also announced that organizations like Naik Charitable Trust and Nirali Memorial Medial Trust would be established. AM Naik’s medical trust laid the foundation of a cancer hospital in Navsari, Gujarat. An agreement has been made with Apollo Group to build a special hospital.
The Government of India has honoured AM Naik with Padma Vibhushan. Reports suggest that he holds a total of 9 stocks worth more than Rs 171.3 crore.
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