Larsen & Toubro Ltd.

NSE: LT · Construction

₹4,117.70+1.67%06 Nov 2026

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Instant answers about Larsen & Toubro Ltd. — computed from its filings, no language model

Market cap₹5,66,554 cr

Current price₹4,117.70

High / Low₹4,418 / ₹3,342

P/E31.7

P/B5.01

Book value₹821.5

ROE15.8%

ROCE12.3%

Debt / equity1.21

Dividend yield0.83%

EPS (TTM)₹129.85

Face value₹2

Price & valuation

split & bonus adjusted · pick a metric and range

Annual performance

annual · ₹ crore · line = operating margin

showing latest 6 of 8 periods

	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY26
Revenue	1,19,862	1,41,007	1,45,452	1,35,979	1,56,521	1,83,341	2,21,113	2,85,874
EBITDA	13,571	16,325	16,329	15,624	18,217	20,753	23,494	29,151
Operating margin	11.3%	11.6%	11.2%	11.5%	11.6%	11.3%	10.6%	10.2%
Interest	1,539	1,806	2,797	3,913	3,126	3,207	3,546	2,849
Depreciation	1,929	2,084	2,462	2,904	2,948	3,502	3,682	4,365
Profit before tax	11,639	14,581	13,431	8,542	14,530	17,109	20,517	25,976
Tax	3,199	4,343	3,263	3,873	4,239	4,484	4,947	6,816
Net profit	7,370	8,905	9,549	11,583	8,669	10,471	13,059	16,084
EPS ₹	52.62	63.51	68.04	82.49	61.71	74.51	93.96	116.93
Operating cash flow	—	—	—	—	19,164	22,777	18,266	16,741
Capex	—	—	—	—	3,111	4,144	4,517	4,809
Dividend paid	—	—	—	—	2,528	3,091	4,217	4,676
Total assets	2,43,877	2,78,347	3,08,140	3,11,274	3,20,049	3,30,352	3,39,627	4,52,550
Equity	54,904	62,375	66,723	75,869	82,408	89,326	86,359	1,09,290

Quarterly performance

last 34 quarters · ₹ crore

showing latest 8 of 34 periods

	MAR '18	JUN '18	SEP '18	DEC '18	MAR '19	JUN '19	SEP '19	DEC '19	MAR '20	JUN '20	SEP '20	DEC '20	MAR '21	JUN '21	SEP '21	DEC '21	MAR '22	JUN '22	SEP '22	DEC '22	MAR '23	JUN '23	SEP '23	DEC '23	MAR '24	JUN '24	SEP '24	DEC '24	JUN '25	SEP '25	DEC '25	MAR '26	JUN '26	SEP '26
Revenue	40,678	28,283	32,081	35,709	44,934	29,636	35,328	36,243	44,245	21,260	31,035	35,596	48,088	29,335	34,773	39,563	52,851	35,853	42,763	46,390	58,335	47,882	51,024	55,128	67,079	55,120	61,555	64,668	63,679	67,984	71,450	82,762	67,942	78,750
Operating profit	5,390	2,913	3,771	3,996	5,599	3,319	4,022	4,118	5,121	1,620	3,335	4,280	6,389	3,171	3,995	4,530	6,521	3,957	4,899	5,073	6,833	4,869	5,632	5,759	7,234	5,615	6,362	6,255	6,318	6,806	7,417	8,610	6,116	6,845
Operating margin	13.3%	10.3%	11.8%	11.2%	12.5%	11.2%	11.4%	11.4%	11.6%	7.6%	10.7%	12.0%	13.3%	10.8%	11.5%	11.5%	12.3%	11.0%	11.5%	10.9%	11.7%	10.2%	11.0%	10.4%	10.8%	10.2%	10.3%	9.7%	9.9%	10.0%	10.4%	10.4%	9.0%	8.7%
Other income	433	244	425	606	621	384	596	475	660	777	559	1,065	1,028	648	532	571	516	695	739	755	741	1,146	1,133	838	1,042	921	1,101	968	1,357	1,384	1,441	1,579	2,377	2,306
Interest	418	365	399	535	507	587	686	709	821	1,056	1,042	962	853	827	779	814	705	756	836	802	813	851	864	904	926	861	884	843	782	763	625	679	539	473
Depreciation	492	645	516	449	475	461	630	660	711	672	713	702	817	717	729	732	769	963	860	825	854	830	910	921	1,021	998	1,024	1,047	1,033	1,092	1,072	1,168	1,032	1,037
Profit before tax	4,913	2,148	3,576	3,619	5,239	2,562	3,303	3,223	4,250	894	-1,780	3,680	5,747	2,275	3,139	3,556	5,562	2,932	3,942	4,336	5,907	4,332	4,991	4,772	6,422	4,677	5,555	5,333	5,860	6,336	5,370	8,410	6,922	7,641
Tax	1,458	935	886	1,200	1,322	795	791	711	966	256	489	1,041	2,087	718	907	1,059	1,555	639	1,123	1,270	1,461	1,216	1,136	1,177	1,418	1,237	1,442	1,332	1,534	1,649	1,541	2,093	1,939	1,726
Net profit	3,167	1,215	2,230	2,042	3,418	1,473	2,527	2,352	3,197	303	5,520	2,467	3,293	1,174	1,819	2,055	3,621	1,702	2,229	2,553	3,987	2,493	3,223	2,947	4,396	2,786	3,395	3,359	3,617	3,926	3,215	5,326	4,123	5,202
EPS ₹	22.60	8.67	15.91	14.56	24.37	10.50	18.01	16.76	22.78	2.16	39.32	17.57	23.45	8.36	12.95	14.63	25.77	12.11	15.86	18.17	28.37	17.74	22.94	21.44	31.98	20.26	24.69	24.43	26.30	28.54	23.37	38.71	29.97	37.81
Revenue YoY	—	—	—	—	10.5%	4.8%	10.1%	1.5%	-1.5%	-28.3%	-12.2%	-1.8%	8.7%	38.0%	12.0%	11.1%	9.9%	22.2%	23.0%	17.3%	10.4%	33.6%	19.3%	18.8%	15.0%	15.1%	20.6%	17.3%	15.5%	10.4%	10.5%	—	6.7%	15.8%
Profit YoY	—	—	—	—	7.9%	21.2%	13.3%	15.2%	-6.5%	-79.4%	118.4%	4.9%	3.0%	287.4%	-67.0%	-16.7%	10.0%	44.9%	22.5%	24.2%	10.1%	46.5%	44.6%	15.5%	10.3%	11.7%	5.4%	14.0%	29.8%	15.6%	-4.3%	—	14.0%	32.5%

Earlier results (standalone, Sep '07 – Dec '17)

₹ crore · from BSE, before the NSE XBRL filings begin

Larsen & Toubro Ltd. reports consolidated figures above. Quarterly consolidated results only became mandatory in India in 2019, so the earlier history available is the standalone company only (excluding subsidiaries). It is shown separately so the two bases are never mixed.

Full years

showing latest 8 of 9 periods

	FY09†	FY10†	FY11†	FY12†	FY13†	FY14†	FY15†	FY16†	FY17†
Revenue	33,809	37,034	44,013	53,187	60,874	61,531	57,017	59,780	66,301
Operating profit	3,701	4,727	5,591	6,204	6,418	7,049	6,488	6,182	6,425
Operating margin	10.9%	12.8%	12.7%	11.7%	10.5%	11.5%	11.4%	10.3%	9.7%
Other income	896	1,004	1,226	1,422	1,840	1,864	2,283	2,395	1,972
Interest	350	510	647	670	982	1,084	1,419	1,449	1,318
Depreciation	306	415	599	699	818	840	1,008	999	1,215
Profit before tax	3,940	5,881	5,833	6,312	6,633	7,578	6,701	6,689	6,758
Tax	459	1,505	1,875	1,856	1,722	1,880	1,645	1,378	1,304
Net profit	3,482	4,376	3,958	4,456	4,911	5,698	5,056	5,311	5,454

Quarters

showing latest 8 of 42 periods

	SEP '07†	DEC '07†	MAR '08†	JUN '08†	SEP '08†	DEC '08†	MAR '09†	JUN '09†	SEP '09†	DEC '09†	MAR '10†	JUN '10†	SEP '10†	DEC '10†	MAR '11†	JUN '11†	SEP '11†	DEC '11†	MAR '12†	JUN '12†	SEP '12†	DEC '12†	MAR '13†	JUN '13†	SEP '13†	DEC '13†	MAR '14†	JUN '14†	SEP '14†	DEC '14†	MAR '15†	JUN '15†	SEP '15†	DEC '15†	MAR '16†	JUN '16†	SEP '16†	DEC '16†	MAR '17†	JUN '17†	SEP '17†	DEC '17†
Revenue	5,500	6,383	8,467	6,901	7,686	8,616	10,605	7,408	7,919	8,122	13,585	7,885	9,331	11,413	15,384	9,483	11,245	13,999	18,461	11,955	13,195	15,429	20,294	12,555	14,510	14,388	20,079	10,338	12,717	14,995	18,968	10,710	13,234	14,774	21,061	12,150	14,705	15,946	23,500	14,086	15,860	17,716
Operating profit	586	690	1,118	657	677	780	1,587	832	837	1,007	2,051	1,007	1,006	1,238	2,341	1,126	1,174	1,343	2,561	1,087	1,405	1,475	2,451	1,071	1,402	1,675	2,901	1,087	1,341	1,569	2,490	975	1,012	1,002	3,193	964	1,088	1,352	3,021	966	1,309	1,674
Operating margin	10.7%	10.8%	13.2%	9.5%	8.8%	9.1%	15.0%	11.2%	10.6%	12.4%	15.1%	12.8%	10.8%	10.8%	15.2%	11.9%	10.4%	9.6%	13.9%	9.1%	10.7%	9.6%	12.1%	8.5%	9.7%	11.6%	14.4%	10.5%	10.5%	10.5%	13.1%	9.1%	7.6%	6.8%	15.2%	7.9%	7.4%	8.5%	12.9%	6.9%	8.3%	9.4%
Other income	23	101	249	202	156	307	231	223	218	234	330	227	382	247	370	296	363	449	314	606	329	530	374	473	449	447	495	488	603	622	570	553	487	617	737	483	645	499	345	424	661	446
Interest	13	44	50	38	69	98	145	110	131	134	136	142	193	176	136	161	197	191	121	228	235	238	281	245	243	291	305	272	313	500	334	287	383	381	397	331	360	357	269	359	367	332
Depreciation	48	53	68	66	73	78	89	94	100	105	116	114	121	128	236	168	171	180	180	192	204	200	222	210	216	199	214	261	238	264	246	246	254	244	255	279	273	267	396	258	259	265
Profit before tax	548	695	1,336	755	691	911	1,583	1,871	851	1,002	2,156	977	1,074	1,217	2,566	1,094	1,169	1,421	2,629	1,234	1,510	1,567	2,322	1,089	1,392	1,736	3,362	1,214	1,394	1,427	2,666	995	1,409	1,085	3,201	786	3,005	1,227	1,740	772	1,518	1,580
Tax	200	213	370	253	230	-609	585	273	271	243	718	311	309	376	879	347	371	429	708	370	373	445	534	332	414	495	638	320	352	367	605	294	220	202	662	240	286	293	486	213	356	358
Net profit	348	482	967	502	460	1,520	999	1,598	580	759	1,438	666	765	841	1,686	746	798	992	1,920	864	1,137	1,122	1,788	756	978	1,241	2,723	894	1,042	1,060	2,061	701	1,188	883	2,539	547	2,719	934	1,254	558	1,162	1,222
EPS ₹	12.19	16.66	33.12	17.19	15.74	25.98	17.05	27.28	9.90	12.72	23.90	11.05	12.66	13.84	27.70	12.24	13.07	16.21	31.37	14.10	18.64	18.26	29.06	8.18	10.57	13.40	29.39	9.63	11.23	11.41	22.18	7.54	12.77	9.48	27.26	5.87	29.16	10.02	13.44	3.99	8.30	8.72
Revenue YoY	—	—	—	—	39.8%	35.0%	25.3%	7.3%	3.0%	-5.7%	28.1%	6.4%	17.8%	40.5%	13.2%	20.3%	20.5%	22.7%	20.0%	26.1%	17.3%	10.2%	9.9%	5.0%	10.0%	-6.8%	-1.1%	-17.7%	-12.4%	4.2%	-5.5%	3.6%	4.1%	-1.5%	11.0%	13.4%	11.1%	7.9%	11.6%	15.9%	7.8%	11.1%
Profit YoY	—	—	—	—	32.3%	215.6%	3.3%	218.1%	26.1%	-50.1%	44.0%	-58.3%	31.8%	10.8%	17.3%	12.0%	4.4%	18.0%	13.9%	15.7%	42.5%	13.1%	-6.9%	-12.5%	-14.1%	10.6%	52.3%	18.2%	6.6%	-14.6%	-24.3%	-21.6%	14.0%	-16.7%	23.2%	-22.0%	128.8%	5.8%	-50.6%	2.1%	-57.3%	30.8%

Returns & margins

trailing-twelve-month, per quarter

showing latest 8 of 28 periods

	DEC '18	MAR '19	JUN '19	SEP '19	DEC '19	MAR '20	JUN '20	SEP '20	DEC '20	MAR '21	JUN '21	SEP '21	DEC '21	MAR '22	JUN '22	SEP '22	DEC '22	MAR '23	JUN '23	SEP '23	DEC '23	MAR '24	JUN '24	SEP '24	DEC '24	MAR '26	JUN '26	SEP '26
ROE	15.8%	14.3%	14.7%	15.2%	15.7%	14.3%	12.6%	17.0%	17.2%	15.3%	16.4%	11.5%	11.0%	10.5%	11.2%	11.7%	12.3%	11.7%	12.6%	15.6%	16.1%	15.1%	15.5%	15.2%	15.6%	14.7%	15.2%	15.8%
ROCE	9.8%	9.9%	10.3%	10.3%	10.1%	8.8%	8.1%	5.5%	5.9%	6.7%	7.3%	9.8%	9.7%	10.1%	10.5%	9.1%	9.5%	9.8%	10.5%	11.6%	11.8%	12.0%	12.2%	11.7%	12.0%	12.5%	12.8%	12.3%
Net margin	6.3%	6.3%	6.4%	6.5%	6.7%	6.6%	6.1%	8.6%	8.7%	8.5%	8.6%	5.9%	5.5%	5.5%	5.6%	5.6%	5.7%	5.7%	5.8%	6.0%	6.0%	5.9%	5.8%	5.7%	5.6%	5.6%	5.7%	5.9%
EBITDA margin	11.8%	11.5%	11.7%	11.6%	11.7%	11.4%	10.9%	10.7%	10.9%	11.5%	11.9%	12.1%	11.9%	11.6%	11.7%	11.6%	11.5%	11.3%	11.1%	11.0%	10.9%	10.6%	10.6%	10.5%	10.3%	10.2%	10.0%	9.6%
Debt / equity	1.96	1.66	1.66	1.66	1.66	1.76	1.76	1.76	1.76	1.45	1.45	1.45	1.45	1.12	1.12	1.55	1.55	1.33	1.33	1.53	1.53	1.32	1.32	1.38	1.38	1.11	1.11	1.21
Interest coverage	9.30	9.07	8.39	7.36	6.76	5.76	4.57	2.82	2.82	3.18	3.69	5.34	5.50	5.65	5.97	6.14	6.41	6.34	6.61	6.87	6.83	6.79	6.87	6.99	7.26	10.12	11.38	13.24
Asset turnover	0.56	0.51	0.51	0.52	0.53	0.47	0.44	0.43	0.43	0.44	0.46	0.47	0.49	0.49	0.51	0.53	0.55	0.55	0.59	0.63	0.66	0.65	0.67	0.67	0.70	0.63	0.64	0.62

Balance sheet

equity vs borrowings over time · ₹ crore

showing latest 6 of 17 periods

	MAR '14‡	MAR '15‡	MAR '16‡	MAR '17‡	MAR '18‡	MAR '19‡	MAR '20‡	MAR '21‡	MAR '22‡	SEP '22	MAR '23	SEP '23	MAR '24	SEP '24	SEP '25	MAR '26	SEP '26
Share capital	185	186	186	187	280	281	281	281	281	281	281	275	275	275	275	275	275
Other equity / reserves	34,347	35,725	43,994	50,030	54,623	62,094	66,442	75,588	82,127	81,554	89,045	78,137	86,084	88,955	1,01,108	1,09,015	1,12,754
Total equity	34,532	35,910	44,180	50,217	54,904	62,375	66,723	75,869	82,408	81,835	89,326	78,412	86,359	89,230	1,01,384	1,09,290	1,13,029
Borrowings	69,303	82,267	76,121	83,875	1,07,524	1,03,345	1,17,352	1,09,886	92,095	1,27,047	1,18,513	1,19,736	1,14,040	1,23,572	1,30,622	1,21,683	1,36,227
Current liabilities	67,843	77,039	85,046	89,525	1,09,274	1,33,802	1,44,729	—	—	1,67,161	1,62,066	1,67,255	1,76,601	1,95,326	1,98,787	2,33,531	2,59,865
Non-current liabilities	60,428	70,859	62,607	68,876	74,498	75,344	87,167	—	—	60,351	64,719	62,417	60,477	55,300	72,509	69,522	75,892
Total assets	1,69,162	1,93,806	1,94,726	2,12,182	2,43,877	2,78,347	3,08,140	3,11,274	3,20,049	3,22,794	3,30,352	3,23,122	3,39,627	3,56,608	3,91,103	4,52,550	4,84,727
Property, plant & equipment	20,855	18,811	12,172	11,233	10,642	10,890	10,104	11,386	10,579	12,808	13,474	14,865	15,587	13,562	17,874	19,437	20,376
Capital work-in-progress	4,165	4,883	1,791	1,945	2,143	2,484	3,225	388	1,170	2,212	2,949	2,739	2,897	2,561	3,921	3,036	3,527
Investments	—	—	8,752	17,073	11,946	16,588	15,551	33,681	32,522	38,992	44,798	40,845	45,648	48,704	55,180	68,377	82,754
Inventories	5,527	6,508	4,854	4,140	4,848	6,414	5,747	5,821	5,943	6,371	6,829	6,624	6,620	7,275	8,314	9,531	11,552
Receivables	26,385	30,089	26,025	28,689	33,117	36,846	40,732	42,230	46,139	44,011	44,732	47,977	48,771	51,143	53,655	60,461	57,719
Cash & equivalents	39	99	3,807	3,527	6,834	6,509	11,325	13,374	13,770	11,318	16,927	12,466	11,958	10,205	9,791	15,391	14,620

Cash flow

annual · ₹ crore · line = free cash flow

showing latest 5 of 12 periods

	FY14‡	FY15‡	FY16‡	FY17‡	FY18‡	FY19‡	FY20‡	FY21‡	FY22	FY23	FY24	FY26
Cash from operations	-7,143	-1,365	-3,240	6,655	-10,031	-4,756	6,694	23,074	19,164	22,777	18,266	16,741
Cash from investing	-5,510	-4,778	-4,627	-9,796	3,914	-11,023	-8,256	-5,659	-3,668	-8,312	2,163	-11,739
Cash from financing	13,136	7,903	7,253	2,896	9,370	15,440	6,372	-15,274	-15,181	-11,572	-25,413	-2,156
Capex	—	6,252	4,322	2,977	2,877	4,307	3,437	1,808	3,111	4,144	4,517	4,809
Free cash flow	—	-7,618	-7,561	3,678	-12,908	-9,063	3,257	21,266	16,053	18,633	13,750	11,932
Dividends paid	—	1,323	1,512	1,702	1,961	2,243	3,930	3,651	2,528	3,091	4,217	4,676

Where the assets sit

Sep '26 · ₹ crore

Fixed assets (PPE)

₹20,376 cr4%

CWIP

₹3,527 cr1%

Investments

₹82,754 cr17%

Inventories

₹11,552 cr2%

Receivables

₹57,719 cr12%

Cash & equivalents

₹14,620 cr3%

Other assets

₹2,94,180 cr61%

Peer comparison

largest in Construction · this company in bold

Company	Market cap ₹cr	Price	P/E	P/B	ROE
Larsen & Toubro Ltd.	5,66,554	4,117.70	31.7	5.01	15.8%
Rail Vikas Nigam Ltd.	40,312	193.34	44.8	4.10	9.2%
Kalpataru Projects International Ltd.	23,413	1,370.80	19.8	2.76	14.0%
Cemindia Projects Ltd.	22,734	1,323.30	47.0	8.68	18.5%
NBCC (India) Ltd.	21,184	78.00	26.6	6.59	24.7%
IRB Infrastructure Developers Ltd.	20,557	17.02	19.1	0.97	5.0%
Engineers India Ltd.	16,451	292.70	18.3	4.92	26.9%
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StoxGud checklist: Neutral setup · 5/10

Price above 50-day average
Price above 200-day average
50-day average above 200-day (uptrend)
RSI in healthy 40–70 zone
Positive 1-year return
Return on equity above 15%
Debt to equity below 1
Revenue growing year on year
Net profit margin above 10%
P/E below industry median

A rules-based screen of trend, momentum, quality and valuation. Educational only — not a buy or sell recommendation.

Returns & technicals

1 month+11.2%

6 months+2.4%

1 year+4.0%

3Y CAGR+11.4%

5Y CAGR+16.5%

10Y CAGR+16.0%

50-day avg₹3,835.71

200-day avg₹3,932.69

RSI (14)92

Long-term financials (FY12–FY16)

from published annual reports

Year	Revenue	Profit before tax	Net profit
FY16	₹1,02,632 Cr	₹8,087 Cr	₹5,091 Cr
FY15	₹92,005 Cr	₹7,217 Cr	₹4,964 Cr
FY14	₹85,128 Cr	₹7,483 Cr	₹4,875 Cr
FY13	₹74,498 Cr	₹7,638 Cr	₹5,252 Cr
FY12	₹64,313 Cr	₹6,974 Cr	₹4,691 Cr

Years before FY17 follow the older Indian GAAP standard, so they are not exactly comparable with recent years.

Compare Larsen & Toubro Ltd. with

Larsen & Toubro vs Rail Vikas Nigam Larsen & Toubro vs Kalpataru Projects International Larsen & Toubro vs Cemindia Projects Larsen & Toubro vs NBCC (India)

FAQs

What is the share price of Larsen & Toubro Ltd.?

Larsen & Toubro Ltd. (LT) closed at ₹4,117.70 on NSE on 06 Nov 2026.

What is the market cap of Larsen & Toubro Ltd.?

₹5,66,554 crore at the latest close.

What is the P/E ratio of Larsen & Toubro Ltd.?

31.7, on trailing-twelve-month earnings from its filings.

How fast is Larsen & Toubro Ltd. growing?

Larsen & Toubro Ltd.: revenue has compounded at 22.2% a year over three years; net profit at 22.9% a year. Latest-quarter revenue is up 15.8% year on year, profit up 32.5%.

How profitable is Larsen & Toubro Ltd.?

On a trailing-twelve-month basis return on equity is 15.8%, return on capital employed 12.3%, operating margin 9.6%, net margin 5.9%.

How much debt does Larsen & Toubro Ltd. have?

Larsen & Toubro Ltd. is moderately geared: debt to equity is 1.21 with borrowings of ₹1,36,227 cr against cash of ₹14,620 cr (balance sheet of 2026-09-30). Operating profit covers interest 13.2 times.

Financials parsed from Larsen & Toubro Ltd.'s own XBRL filings to NSE (consolidated), ₹ crore unless marked. Quarterly from MAR '18, annual from FY18, balance sheet from Mar '14. * = derived (full year or half year minus earlier quarters). ‡ = balance sheet / cash flow read from the company's published annual report (same basis), for years before the NSE filings carry them; each one checked to add up. Information only, not investment advice.