Larsen & Toubro Ltd

Quick check

The five things to look at first. Open one for more.

• DebtHighest safetyRated AAA by 2 agencies.
• ResultsGrowingIn the Jun 2026 quarter, sales rose 6.7% and profit rose 16% from a year earlier.
• DilutionNo new sharesNo new shares issued in the last year, so existing shareholders' slices were not cut.
• ValuationCheap vs its pastThe share trades at 28.5 times its yearly earnings (P/E), cheaper than 93% of the time in the last 5 years. Its usual P/E is about 29.

Larsen & Toubro Ltd against the typical company in its industry. The rank is out of the companies that report each figure; green means the better quarter of the pack, red the worse quarter.

• Valuation (P/E)28.5 against a typical 14.4: pricier than most peers (1st = cheapest).132nd of 181
• Sales growth+6.7% against a typical +8.6% from a year earlier.81st of 147
• Profit growth+15.5% against a typical 0% from a year earlier.51st of 130
• Share price, 3 months−6.8% against a typical −13.6%.63rd of 164

Exchange filings and their impact on the company.

• 27 Oct 2026Outcome of Board MeetingHigh impactVery positivePrice +3.7% so far today
  Record Rs 1.48 lakh cr inflows and 33% PAT jump give multi-year visibility.

  L&T reported Q2FY27 consolidated revenue of Rs 78,750 crore, up 16%, and PAT of Rs 5,202 crore, up 33%, with H1 revenue of Rs 1,46,692 crore and PAT of Rs 9,325 crore. It won record quarterly orders of Rs 1,47,665 crore, up 28%, taking the order book to an all-time high of Rs 8,53,514 crore, up 15% over March 2026. The strong inflows led by Energy-Conventional and international orders provide multi-year revenue visibility despite some margin softness.

  Full analysisFiling
• 27 Oct 2026Bagging/Receiving of orders/contractsMedium impactPositivePrice −0.4% that day
  L&T won a Rs 5,000-10,000 cr Dhaka Metro Line-1 systems order, adding ~0.5-0.9% to next-12-month revenue.

  L&T's Transportation Infrastructure business has won two Design & Build packages for Dhaka Metro Line-1 in Bangladesh - CP09 for track works and electrical systems with Sumitomo Corporation, and CP10 for signalling, telecom and platform screen doors. The company classifies the combined win as Major, meaning Rs 5,000 to Rs 10,000 crore. The 31 km Line-1 with 19 stations is Bangladesh's first underground metro, funded by JICA, and follows L&T's delivery of Dhaka Metro Line-6.

  Full analysisFiling
• 21 Oct 2026Bagging/Receiving of orders/contractsLow impactPositivePrice −0.7% that day
  L&T won two Large building orders worth Rs 2,500-5,000 cr for execution over 24-30 months.

  L&T's Public Spaces, Airports & Health business won two domestic building orders classified as Large, worth Rs 2,500-5,000 crore combined. One from CPWD is for Common Central Secretariat buildings 4 and 5 in New Delhi with 32.8 lakh sq ft to be completed in 24 months plus 5-year maintenance, and the other from Andhra Pradesh is for two 47-storey office towers in Amaravati with 37.5 lakh sq ft to be completed in 30 months. Given L&T's large revenue base, the orders modestly support order book and revenue over the next 12 months.

  Full analysisFiling
• 19 Oct 2026Bagging/Receiving of orders/contractsMedium impactPositivePrice +1% that day
  L&T started early works on its Rs 15,000-crore-plus Tashkent airport terminal EPC job under an LNTP.

  L&T has secured a Limited Notice to Proceed for the New Tashkent International Airport in Uzbekistan and started initial engineering, design and procurement preparation. The EPC contract, classified as ultra-mega meaning over Rs 15,000 crore, covers a 17-million-passenger terminal and landside infrastructure. Full site construction will begin after the consortium issues the final Notice to Proceed on meeting contractual conditions.

  Full analysisFiling
• 7 Oct 2026Bagging/Receiving of orders/contractsLow impactPositivePrice −1.8% that day
  L&T won LNTP for the 1,600 MW Chandrapura thermal plant worth Rs 5,000-10,000 cr, pending final clearance.

  L&T Energy CarbonLite Solutions has secured a Limited Notice to Proceed from DVC CIL Power, a Damodar Valley Corporation-Coal India JV, for the main plant package of the 2x800 MW Chandrapura thermal plant in Jharkhand. The Major order is valued at Rs 5,000-10,000 crore and covers boilers, turbines, generators and full EPC works on ultra-supercritical technology. Final Notice to Proceed will follow after environmental clearances, so near-term execution is limited to early works.

  Full analysisFiling

Results dates and other board meetings. Full calendar

Compounded yearly rates over each period.

Listed companies in the same business.

Sekharipuram Narayanan Subrahmanyan

Executive Chairman of the Board, Managing Director

Ramamurthi Shankar Raman

President, Whole-Time Director - Finance

Subramanian Sarma

President, Deputy Managing Director, Executive Director

P. Ramakrishnan

Chief Financial Officer

Tharayil Madhava Das

Senior Executive Vice President - Utilities, Whole-Time Director

Sudhindra Vasantrao Desai

Senior Executive Vice President - Civil Infrastructure, Whole-Time Director

Anil Vithal Parab

Senior Executive Vice President - Heavy Engineering and Manufacturing, Whole-time Director

Subramanian Narayan

Company Secretary and Compliance Officer