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Larsen & Toubro Limited LT NIFTY50NSEAIINFRA

Industrials · Engineering & Construction · India
https://www.larsentoubro.com

Larsen & Toubro Limited engages in engineering, procurement, and construction projects (EPC) in India and internationally. The company operates through four segments: Infrastructure Projects, Energy Projects, Hi-Tech Manufacturing, and Others. The Infrastructure Projects segment is involved in the engineering and construction of building and factories, transportation infrastructure, heavy civil infrastructure, power transmission & distribution, renewables, water and effluent treatment, and minerals and metals. The Energy Projects segment provides EPC solutions in clean energy space, 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; and electrolysers. The other segment engages in realty; smart infrastructure and communication projects; construction equipment; and industrial product design development, including marketing and servicing of construction equipment, mining machinery and parts thereof, manufacture and sale of rubber processing machinery, and ecommerce/digital platforms and data centers. It 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. The company was founded in 1938 and is headquartered in Mumbai, India.

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₹4,076.50
+13.66% 1Y

Market & Price

Market Cap
₹5.61 L Cr
Current Price
₹4,076.50
High / Low (52W)
₹4,375.36 / ₹3,310.07
Beta
0.49

Valuation

Stock P/E
34.84
Industry PE
27.78
Forward P/E
22.21
PEG Ratio
1.06
Book Value
₹794.47
Price to Book
5.13
P/S
1.92
EV/EBITDA
18.54
Dividend Yield
0.93%

Profitability & Returns

ROCE
14.55%
ROE
16.95%
ROA
4.59%
Profit Margin
5.51%
Op Margin
10.71%
EPS (Latest Qtr)
₹38.70
EPS (TTM)
₹117.00

Balance Sheet & Liquidity

Debt/Equity
0.98
Quick Ratio
0.84
Current Ratio
1.25
Debt
₹1.25 L Cr
Total Assets
₹4.53 L Cr
Current Assets
₹3.18 L Cr
Working Capital
₹63,813.81 Cr

Ownership

Promoter Holding
18.09%
Chg in Prom Hold
-
FII / Inst Holding
49.27%
Chg in FII Hold
-

Financial Snapshot

Enterprise Value
₹6.29 L Cr
Total Revenue (TTM)
₹2.92 L Cr
EBITDA
₹33,916.45 Cr
Free Cash Flow
₹26,195.48 Cr
Operating Cash Flow
₹16,740.97 Cr
Shares Outstanding
₹137.57 Cr
Gross Margin
36.91%
Payout Ratio
29.09%

Growth (CAGR)

Revenue 5Y
16.09%
Profit 5Y
15.38%
Revenue (YoY)
11.70%
Earnings (YoY)
-34.50%

PROS

  • Compounding revenue at 16.1% over 5 years.
  • Profit CAGR of 15.4% over 5 years.
  • Generates positive free cash flow.

CONS

  • In a downtrend (50-DMA below 200-DMA).

* The pros and cons are auto-generated from financial metrics.

Price Chart

NSE TradingView Screener.in

Fundamental Growth

Figures from the latest reported periods. CAGR is computed across the displayed window (quarterly CAGR is annualised assuming 4 quarters per year).

Peer comparison

Peer companies in the same sector (Industrials).

#NameCMP ₹P/E Mkt CapDiv Yld % ROCE %ROE % Rev CAGR 5Y %Profit CAGR 5Y %
1 LT Larsen & Toubro Limited NIFTY50NSEAIINFRA 4,076.50 34.84 ₹5.61 L Cr 0.93% 14.55% 16.95% 16.09% 15.38%
2 ADANIPORTS Adani Ports and Special Economic Zone Limited NIFTY50NSEINFRA 1,804.60 30.96 ₹4.16 L Cr 0.42% 11.02% 15.59% 22.93% 34.11%
3 HAL Hindustan Aeronautics Limited NSEAIDEFENCEINFRAPSU 4,303.80 31.55 ₹2.88 L Cr 1.16% 13.80% 23.98% 7.87% 16.08%
4 POWERINDIA Hitachi Energy India Limited NIFTY_MIDNSEINFRA 38,445.00 172.41 ₹1.71 L Cr 0.02% 24.92% 21.04% 22.24% 119.12%
5 INDIGO InterGlobe Aviation Limited NSEINFRA 4,405.00 - ₹1.70 L Cr 0.24% 15.53% - 44.12% 72.60%
6 CUMMINSIND Cummins India Limited NSEINFRA 5,881.00 68.97 ₹1.63 L Cr 1.12% 34.95% 29.45% 16.07% 24.35%
7 CGPOWER CG Power and Industrial Solutions Limited NSEINFRA 917.45 118.99 ₹1.44 L Cr 0.14% 19.35% 19.56% 21.67% 7.81%
8 POLYCAB Polycab India Limited NIFTY_MIDNSEAIINFRA 9,477.50 53.48 ₹1.43 L Cr 0.37% 30.44% 24.58% 26.57% 28.11%
9 SIEMENS Siemens Limited NSEAIINFRA 3,844.00 81.30 ₹1.37 L Cr 0.39% 16.46% - 3.04% 10.90%
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Quarterly Results

Figures in INR.

Metric Sep 2024Dec 2024Mar 2025Jun 2025Dec 2025Mar 2026
Revenue -64,667.78 Cr74,392.28 Cr63,678.92 Cr71,449.70 Cr82,762.16 Cr
Cost of Revenue -43,615.21 Cr50,738.65 Cr41,937.17 Cr48,062.01 Cr57,542.09 Cr
Gross Profit -21,052.57 Cr23,653.63 Cr21,741.75 Cr23,387.69 Cr25,220.07 Cr
Operating Expenses -15,844.70 Cr16,503.51 Cr16,457.39 Cr17,042.62 Cr17,777.76 Cr
Operating Income -5,207.87 Cr7,150.12 Cr5,284.36 Cr6,345.07 Cr7,442.31 Cr
EBITDA -7,222.74 Cr9,812.37 Cr7,674.44 Cr8,857.85 Cr10,257.50 Cr
Interest Expense -842.71 Cr745.93 Cr781.61 Cr625.13 Cr679.27 Cr
Pretax Income -5,333.03 Cr8,014.02 Cr5,859.53 Cr7,160.98 Cr8,410.28 Cr
Tax Provision -1,332.00 Cr1,880.58 Cr1,533.96 Cr1,987.99 Cr2,092.75 Cr
Net Income -3,358.84 Cr5,497.26 Cr3,617.19 Cr3,215.11 Cr5,325.60 Cr
Diluted EPS -24.4139.9526.2923.3638.70

Profit & Loss (Annual)

Figures in INR.

Metric Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Revenue -1.82 L Cr2.19 L Cr2.54 L Cr2.84 L Cr
Cost of Revenue -1.17 L Cr1.46 L Cr1.71 L Cr1.93 L Cr
Gross Profit -65,046.15 Cr72,903.31 Cr83,039.76 Cr91,176.35 Cr
Operating Expenses -45,544.67 Cr51,172.23 Cr56,561.81 Cr64,105.78 Cr
Operating Income -19,501.48 Cr21,731.08 Cr26,477.95 Cr27,070.57 Cr
EBITDA -23,670.91 Cr27,728.32 Cr31,007.85 Cr33,167.45 Cr
Interest Expense -3,177.68 Cr3,536.51 Cr3,330.84 Cr2,846.92 Cr
Pretax Income -17,109.03 Cr20,517.11 Cr23,578.79 Cr25,975.81 Cr
Tax Provision -4,484.16 Cr4,947.39 Cr5,891.40 Cr6,816.41 Cr
Net Income -10,470.72 Cr13,059.11 Cr15,037.11 Cr16,083.99 Cr
Diluted EPS -74.4593.88109.28116.88

Compounded Sales Growth

5 Years:16.09%
1 Year:11.70%

Compounded Profit Growth

5 Years:15.38%
1 Year:-34.50%

Stock Price Performance

1 Year:+13.66%
6 Months:+2.99%
3 Months:-3.35%
1 Month:+2.55%

Balance Sheet (Annual)

Figures in INR.

Metric Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Total Assets -3.30 L Cr3.40 L Cr3.80 L Cr4.53 L Cr
Current Assets -2.22 L Cr2.19 L Cr2.45 L Cr3.18 L Cr
Cash & Equivalents -16,926.69 Cr11,958.50 Cr12,187.00 Cr15,391.24 Cr
Inventory -6,828.78 Cr6,620.19 Cr7,670.55 Cr9,530.93 Cr
Receivables -44,731.53 Cr48,770.95 Cr53,713.68 Cr60,461.26 Cr
Total Liabilities -2.27 L Cr2.38 L Cr2.64 L Cr3.24 L Cr
Current Liabilities -1.62 L Cr1.77 L Cr2.02 L Cr2.54 L Cr
Long Term Debt -61,217.68 Cr56,506.97 Cr57,503.34 Cr63,738.59 Cr
Total Debt -1.21 L Cr1.16 L Cr1.32 L Cr1.25 L Cr
Total Equity -89,325.95 Cr86,359.24 Cr97,655.60 Cr1.09 L Cr
Shares Outstanding -140.55 Cr137.47 Cr137.52 Cr137.56 Cr

Cash Flows (Annual)

Figures in INR.

Metric Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating Cash Flow -22,776.96 Cr18,266.28 Cr9,151.35 Cr16,740.97 Cr
Investing Cash Flow --8,311.70 Cr2,163.04 Cr-15,508.15 Cr-11,738.84 Cr
Financing Cash Flow --11,572.49 Cr-25,413.36 Cr6,556.62 Cr-2,156.43 Cr
Capital Expenditure --4,143.79 Cr-4,516.53 Cr-4,418.83 Cr-4,809.19 Cr
Free Cash Flow -18,633.17 Cr13,749.75 Cr4,732.52 Cr11,931.78 Cr
Net Change in Cash -2,892.77 Cr-4,984.04 Cr199.82 Cr2,845.70 Cr

Ratios (Annual)

Figures in %.

Metric Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Gross Margin % -35.8%33.3%32.7%32.1%
Operating Margin % -10.7%9.9%10.4%9.5%
Net Margin % -5.8%6.0%5.9%5.7%
ROE % -11.7%15.1%15.4%14.7%
ROCE % -11.6%13.3%14.9%13.7%

Shareholding Pattern

Insiders
18.09%
Institutions
49.27%
Public Float
60.16%

Analyst View

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