Larsen & Toubro Limited

About

Larsen & Toubro Limited engages in engineering, procurement, and construction projects (EPC) in India and internationally. The Infrastructure Projects segment is involved in the engineering and construction of building and factories, transportation infrastructure, heavy civil infrastructure, power transmission and distribution, water and effluent treatment, and minerals and metals. The Energy Projects segment provides EPC solutions in oil & gas, refineries, petrochemicals & offshore wind energy sectors, from front-end design through detailed engineering, modular fabrication, procurement, project management, construction, installation and commissioning; CarbonLite solutions for power generation plants including power generation equipment with associated systems; and carbon capture utilization and utility packages. The Hi-Tech Manufacturing segment designs, manufactures/constructs, supplies, and revamps/retrofits custom designed engineered critical equipment and systems for the process plants, nuclear energy, and green hydrogen sectors; marine and land platforms, related equipment and systems, and aerospace products and systems; precision and electronics products and systems for defense, security, space, and industrial sectors; and electrolysers. The IT & Technology Services segment offers information technology and integrated engineering services, e-commerce/digital platforms and data centers, and semiconductor chip design solutions. The Financial Services segment provides retail finance. The Development Projects segment develops, operates, and maintains metro project comprising transit-oriented development, toll roads, power generation and development, thermal power, and green energy. The Others segment engages in realty, manufacture and sale of industrial valves; marketing and servicing of construction equipment, mining machinery and parts, and processing machinery. Larsen & Toubro Limited has a strategic partnership with General Atomics Aeronautical Systems, Inc. to manufacture Medium Altitude Long Endurance (MALE) Remotely Piloted Aircraft Systems (RPAS) in India, for the Indian armed forces. Larsen & Toubro Limited was founded in 1938 and is headquartered in Mumbai, India.

Key Metrics

as of Sep 2026

Market Cap546,783 Cr

P/E31.00

Div Yield0.96 %

Book Value₹794.00

52w High₹4,440.00

52w Low₹3,288.00

Face Value₹2.00

Quarterly Results

Rs. Crores · hover row for definition

Metric	Jun 2026	Mar 2026	Dec 2025	Sep 2025	Jun 2025	Mar 2025	Dec 2024	Sep 2024	Jun 2024	Mar 2024	Dec 2023	Sep 2023	Jun 2023
Sales	67,942.00	82,762.00	71,450.00	67,984.00	63,679.00	74,392.00	64,668.00	61,555.00	55,120.00	67,079.00	55,128.00	51,024.00	47,882.00
Expenses	59,793.00	72,343.00	62,259.00	59,470.00	55,655.00	64,516.00	56,770.00	53,638.00	48,074.00	58,426.00	47,929.00	43,984.00	41,566.00
Operating Profit	8,149.00	10,419.00	9,190.00	8,513.00	8,024.00	9,876.00	7,898.00	7,917.00	7,046.00	8,653.00	7,199.00	7,040.00	6,316.00
OPM %	12.00	13.00	13.00	13.00	13.00	13.00	12.00	13.00	13.00	13.00	13.00	14.00	13.00
Other Income	2,377.00	1,647.00	-350.00	1,384.00	1,357.00	1,610.00	968.00	1,101.00	921.00	1,135.00	838.00	1,133.00	1,146.00
Depreciation	1,032.00	1,168.00	1,072.00	1,092.00	1,033.00	1,052.00	1,047.00	1,024.00	998.00	1,021.00	921.00	910.00	830.00
Interest	2,571.00	2,488.00	2,399.00	2,470.00	2,488.00	2,419.00	2,486.00	2,439.00	2,292.00	2,345.00	2,344.00	2,272.00	2,299.00
Profit before tax	6,922.00	8,410.00	5,370.00	6,336.00	5,860.00	8,014.00	5,333.00	5,555.00	4,677.00	6,422.00	4,772.00	4,991.00	4,332.00
Tax %	28.00	25.00	29.00	26.00	26.00	23.00	25.00	26.00	26.00	22.00	25.00	23.00	28.00
Net Profit	4,988.00	6,133.00	3,825.00	4,678.00	4,318.00	6,156.00	3,974.00	4,099.00	3,445.00	5,013.00	3,593.00	3,846.00	3,096.00
EPS in Rs	29.97	38.71	23.37	28.54	26.30	39.97	24.43	24.69	20.26	31.98	21.44	23.45	17.74

Profit & Loss

Annual · Rs. Crores

Metric	Mar 2026	Mar 2025	Mar 2024	Mar 2023	Mar 2022	Mar 2021	Mar 2020	Mar 2019	Mar 2018	Mar 2017	Mar 2016	Mar 2015
Sales	285,874.00	255,734.00	221,113.00	183,341.00	156,521.00	135,979.00	145,452.00	135,220.00	119,683.00	109,312.00	101,122.00	91,929.00
Expenses	250,464.00	221,308.00	192,355.00	156,175.00	132,207.00	112,519.00	120,899.00	112,354.00	99,572.00	92,691.00	85,637.00	76,245.00
Operating Profit	35,411.00	34,427.00	28,758.00	27,166.00	24,314.00	23,460.00	24,553.00	22,866.00	20,111.00	16,620.00	15,486.00	15,684.00
OPM %	12.00	13.00	13.00	15.00	16.00	17.00	17.00	17.00	17.00	15.00	15.00	17.00
Other Income	4,986.00	3,198.00	4,953.00	2,891.00	2,364.00	8,111.00	3,015.00	2,701.00	1,465.00	1,466.00	1,219.00	1,422.00
Interest	10,056.00	9,925.00	9,512.00	9,445.00	9,235.00	11,750.00	11,021.00	9,339.00	7,714.00	6,829.00	6,899.00	7,266.00
Depreciation	4,365.00	4,121.00	3,682.00	3,502.00	2,948.00	2,904.00	2,462.00	1,923.00	2,223.00	2,370.00	1,787.00	2,623.00
Profit before tax	25,976.00	23,579.00	20,517.00	17,109.00	14,495.00	16,918.00	14,086.00	14,305.00	11,639.00	8,887.00	8,020.00	7,217.00
Tax %	26.00	25.00	24.00	26.00	29.00	24.00	23.00	28.00	27.00	23.00	30.00	31.00
Net Profit	18,954.00	17,673.00	15,547.00	12,531.00	10,419.00	12,921.00	10,894.00	10,217.00	8,004.00	6,486.00	4,592.00	4,966.00
EPS in Rs	116.92	109.35	95.00	74.50	61.70	82.47	68.02	63.48	52.59	43.17	30.64	34.17
Dividend Payout %	32.00	31.00	36.00	32.00	36.00	44.00	26.00	28.00	30.00	22.00	40.00	32.00

Balance Sheet

Annual · Rs. Crores — latest first

Metric	Mar 2026	Mar 2025	Mar 2024	Mar 2023	Mar 2022	Mar 2021	Mar 2020	Mar 2019	Mar 2018	Mar 2017	Mar 2016	Mar 2015
Equity Capital	275.00	275.00	275.00	281.00	281.00	281.00	281.00	281.00	280.00	187.00	186.00	186.00
Reserves	109,015.00	97,381.00	86,084.00	89,045.00	82,127.00	75,588.00	66,442.00	62,094.00	54,623.00	50,030.00	43,994.00	40,723.00
Borrowings	125,497.00	132,409.00	116,322.00	120,650.00	125,508.00	134,629.00	143,174.00	125,555.00	107,524.00	93,954.00	88,135.00	93,630.00
Other Liabilities	217,596.00	149,050.00	136,921.00	119,745.00	111,112.00	99,597.00	96,790.00	90,106.00	80,812.00	67,400.00	61,775.00	58,727.00
Total Liabilities	452,383.00	379,114.00	339,602.00	329,722.00	319,028.00	310,095.00	306,687.00	278,036.00	243,240.00	211,571.00	194,091.00	193,266.00
Fixed Assets	30,867.00	44,055.00	42,964.00	42,641.00	42,945.00	44,319.00	43,653.00	21,194.00	18,580.00	16,677.00	14,176.00	34,738.00
CWIP	3,311.00	2,589.00	3,045.00	3,066.00	1,250.00	500.00	3,311.00	13,919.00	13,443.00	13,298.00	10,974.00	14,993.00
Investments	68,377.00	54,805.00	45,648.00	44,798.00	39,395.00	39,627.00	20,047.00	20,907.00	15,311.00	19,753.00	15,465.00	9,612.00
Other Assets	349,828.00	277,665.00	247,946.00	239,217.00	235,438.00	225,649.00	239,675.00	222,016.00	195,905.00	161,843.00	153,475.00	133,923.00
Total Assets	452,383.00	379,114.00	339,602.00	329,722.00	319,028.00	310,095.00	306,687.00	278,036.00	243,240.00	211,571.00	194,091.00	193,266.00

Cash Flows

Annual · Rs. Crores — latest first

Metric	Mar 2026	Mar 2025	Mar 2024	Mar 2023	Mar 2022	Mar 2021	Mar 2020	Mar 2019	Mar 2018	Mar 2017	Mar 2016	Mar 2015
Cash from Operating Activity	16,741.00	9,151.00	18,266.00	22,777.00	19,164.00	23,074.00	6,694.00	-4,756.00	-10,031.00	6,655.00	-3,240.00	-1,365.00
Cash from Investing Activity	-11,380.00	-15,479.00	2,179.00	-8,048.00	-3,585.00	-5,750.00	-8,408.00	-11,023.00	3,914.00	-9,796.00	-4,627.00	-4,778.00
Cash from Financing Activity	-2,156.00	6,557.00	-25,413.00	-11,572.00	-15,181.00	-15,274.00	6,372.00	15,440.00	9,370.00	2,896.00	7,253.00	7,903.00
Net Cash Flow	3,204.00	228.00	-4,968.00	3,156.00	397.00	2,049.00	4,658.00	-338.00	3,254.00	-245.00	-613.00	1,759.00
Free Cash Flow	12,272.00	5,611.00	14,056.00	18,984.00	16,124.00	22,151.00	3,394.00	-8,255.00	-12,046.00	3,834.00	-7,363.00	-7,460.00
CFO/OP %	64.00	43.00	82.00	103.00	97.00	113.00	44.00	1.00	-33.00	59.00	0.00	10.00

Ratios

Annual · Days / % — latest first

Metric	Mar 2026	Mar 2025	Mar 2024	Mar 2023	Mar 2022	Mar 2021	Mar 2020	Mar 2019	Mar 2018	Mar 2017	Mar 2016	Mar 2015
Debtor Days	77.00	77.00	81.00	89.00	108.00	113.00	102.00	99.00	101.00	96.00	94.00	119.00
Inventory Days	36.00	30.00	32.00	41.00	44.00	51.00	44.00	51.00	45.00	41.00	51.00	76.00
Days Payable	265.00	208.00	255.00	302.00	378.00	401.00	336.00	340.00	349.00	301.00	283.00	288.00
Cash Conversion Cycle	-151.00	-101.00	-143.00	-172.00	-227.00	-236.00	-190.00	-190.00	-203.00	-164.00	-138.00	-92.00
Working Capital Days	-27.00	-33.00	-16.00	2.00	0.00	28.00	25.00	20.00	45.00	42.00	44.00	12.00
ROCE %	15.00	15.00	13.00	12.00	10.00	10.00	12.00	13.00	14.00	11.00	11.00	10.00

Shareholding Pattern

% holding — latest first

Holder	Jun 2026	Mar 2026	Dec 2025	Sep 2025	Jun 2025	Mar 2025	Dec 2024	Sep 2024	Jun 2024	Mar 2024	Dec 2023	Sep 2023
FIIs	19.13	18.78	20.06	19.48	19.33	19.80	20.83	21.72	22.85	24.36	25.50	25.72
DIIs	43.01	43.32	42.99	43.34	43.48	42.71	41.71	40.44	38.89	38.08	37.34	37.16
Public	37.60	37.64	36.69	36.92	36.95	37.25	37.21	37.60	38.01	37.33	36.93	36.89
No. of Shareholders	1,795,249	1,801,254	1,630,031	1,671,006	1,681,491	1,706,264	1,675,146	1,689,155	1,736,844	1,564,085	1,454,624	1,407,117

Corporate Actions

38 records

Action	Ex Date	Record Date	Ratio	Amount (₹)	Notes
Dividend	22 May 2026	22 May 2026	—	38.00
Dividend	03 Jun 2025	03 Jun 2025	—	34.00
Dividend	20 Jun 2024	20 Jun 2024	—	28.00
Other	12 Sep 2023	12 Sep 2023	—	—	Buy Back of Shares
Other	12 Sep 2023	12 Sep 2023	—	—	Buy Back
Dividend	02 Aug 2023	02 Aug 2023	—	24.00	NSE/BSE dividend mismatch: BSE/NSE=6.0; BSE/NSE=24.0
Dividend	02 Aug 2023	02 Aug 2023	—	6.00	NSE/BSE dividend mismatch: BSE/NSE=6.0; BSE/NSE=24.0
Dividend	21 Jul 2022	22 Jul 2022	—	22.00
Dividend	28 Jul 2021	—	—	18.00
Dividend	04 Nov 2020	05 Nov 2020	—	18.00
Dividend	05 Aug 2020	—	—	8.00
Dividend	24 Mar 2020	26 Mar 2020	—	10.00
Dividend	24 Jul 2019	—	—	18.00
Other	12 Oct 2018	15 Oct 2018	—	—	Buy Back of Shares
Other	12 Oct 2018	15 Oct 2018	—	—	Buyback
Dividend	14 Aug 2018	—	—	16.00
Dividend	11 Aug 2017	—	—	14.00
Bonus	13 Jul 2017	14 Jul 2017	1:2	—
Dividend	18 Aug 2016	—	—	18.25
Dividend	01 Sep 2015	—	—	16.25
Dividend	13 Aug 2014	—	—	14.25
Dividend	13 Aug 2013	—	—	12.33
Bonus	11 Jul 2013	13 Jul 2013	1:2	—
Dividend	14 Aug 2012	—	—	16.50
Dividend	17 Aug 2011	—	—	14.50
Dividend	17 Aug 2010	—	—	12.50
Dividend	18 Aug 2009	—	—	10.50
Other	18 Aug 2009	—	—	—	Dividend-Rs10.50 Pr Share
Bonus	01 Oct 2008	03 Oct 2008	1:1	—
Dividend	20 Aug 2008	—	—	15.00
Dividend	14 Aug 2007	—	—	2.00
Dividend	17 Jul 2007	18 Jul 2007	—	2.00
Dividend	28 Mar 2007	29 Mar 2007	—	11.00
Bonus	28 Sep 2006	29 Sep 2006	1:1	—
Dividend	14 Aug 2006	—	—	22.00
Dividend	12 Aug 2005	—	—	17.50
Other	19 May 2004	27 May 2004	—	—	Scheme of Arrangement
Dividend	21 Jun 2001	—	—	6.50

Announcements

5 filings

Announcement under Regulation 30 (LODR)-Credit Rating
04 Sep 2026 4 Sep - CRISIL reaffirmed L&T’s AAA ratings for NCDs, bank loans, fixed deposits, and A1+ commercial paper.
Announcement under Regulation 30 (LODR)-Credit Rating
01 Sep 2026 1 Sep - India Ratings affirmed L&T’s NCD rating at IND AAA Stable and CP rating at IND A1+.
Announcement under Regulation 30 (LODR)-Scheme of Arrangement
01 Sep 2026 1 Sep - NCLT admitted L&T-L&T Realty scheme petition; hearing scheduled for 6 October 2026.
Announcement under Regulation 30 (LODR)-Award_of_Order_Receipt_of_Order
25 Aug 2026 25 Aug - L&T wins major order for three Middle East BESS projects totaling 6 GWh.
Announcement under Regulation 30 (LODR)-Award_of_Order_Receipt_of_Order
24 Aug 2026 24 Aug - L&T signs ultra-mega gas compression EPC project in the Middle East, including two 230 kV substations.