Apart from just films, in 1980 Tan Sri L. Krishnan also garnered attention by founding the groundbreaking 16-track Gaya Music Studio, contributing to the burgeoning music industry in the country.
Two years later, he continued to be a trailblazer, establishing the first motion picture Colour Laboratory. His leadership prowess was recognised when Datuk Harris Salleh, the Chief Minister of Sabah, invited him to chair the Borneo Film Organisation Sabah. In 1984, Tan Sri L. Krishnan's contributions expanded further as he assumed the role of Chairman at Cathay Organisation Malaysia.
For his numerous film accolades and contributions to the industry’s growth, Tan Sri L. Krishnan is recognised through numerous awards, including Setia Mahkota Selangor (1976), Dato’ Seri Nilam DiRaja (1978), Kesatria Mangku Negara (1990), Panglima Jasa Negara (2003), Panglima Setia Mahkota (2011), Associated of Accredited Advertising Agent Annual Award (1986), Malaysian Video Award (MVA Millennium Award, 1999), Rotary International Service Above Self Award (1999), International Tamil Film Awards (Lifetime Achievement Award, 2003), 50th Asia-Pacific Film Festival (2005), Seniman-Lifetime Achievement Award (2006), Anugerah Seri Temasek (2011), Anugerah Tokoh Perfileman Malaysia (2013), 1Malaysian of the Year – National Press Club Malaysia (2014), and South India Cinematography Award (2015).