LTConstruction

Larsen & Toubro Limited

Civil Construction · ISIN INE018A01030 · BSE 500510 · NSE EQ · FV ₹2
Last price
₹3,836
+0.75%today
What this company does

Larsen & Toubro Limited operates in Civil Construction, part of the Construction sector. It booked ₹67,942 cr of revenue in its latest quarter (Q1 FY27) and kept 6.1% of sales as profit. It is the largest of 9 Civil Construction companies we track, by market value.

61out of 100
Equitytale Health Score
Mixed

Healthier than 61% of companies in Construction, on all six measures of filed financials. Each measure is ranked against the 19–23 companies that reported it.

Measures financial condition, not whether to buy. Learn what this score means · How this is calculated

Price momentum
neutral
RSI (14)
36

At close. Not part of the score.

Profitability & returns60

How much profit it earns on the money it employs

Balance sheet44

How much it owes, and whether earnings cover the interest

Cash quality85

Whether reported profit actually arrives as cash

Growth & consistency69

Whether sales and profit have grown, and how steadily

Valuation25

What today's price implies, against our models or its peers

Governance & risk100

How much of the promoters' stake is pledged, and how much they hold · highest in its sector on what we could measure

Is this company doing well?
not investment advice
Strengths
Makes a profit
Sales up 7% vs last year
Profit up 14% vs last year
No promoter shares pledged
Strong 15% return on equity
Turns profit into real cash
Watch-outs
! Thin 6.1% net margin

What if I invest in LT?

Set a growth rate and see what a monthly SIP would add up to. Your assumption, our arithmetic.

You would put in
₹12.00 lakh
120 instalments
At 10% a year, it would become
₹20.15 lakh

The starting rate is a round number, not a view on this company — this is your assumption, and the figure above is arithmetic on it. Returns are not steady year to year, and a real holding would not grow in a straight line. We do not publish price targets or predict returns.

Key ratios · latest quarter + price
₹3,836 +0.75%
latest close · 2026-09-17
1-year return
+140.4%
52-wk low ₹1,45652-wk high ₹4,125
Is it cheap or expensive?
What you pay for the profits, book value and cash flow. Higher isn't automatically worse — it can signal faster growth.
P/E ratio32.0High
LowAverageHigh
P/B ratio4.83High
Below bookModerateHigh
EV / EBITDA18.7High
LowAverageHigh
How good is the business?
How much profit it earns from its money and its sales.
Return on equity15.1%Strong
WeakFairStrong ▸15%
Return on capital13.6%Fair
WeakFairStrong
Net margin6.1%Decent
ThinDecentStrong
EBITDA margin12.5%Decent
ThinDecentHealthy
Is it financially safe?
How much it owes, and whether it can comfortably cover it.
Debt to equity0.95Moderate
LowModerateHigh ▸1
Interest cover13.9×Strong
RiskyOkayStrong ▸5×
Current ratio1.25Healthy
Tight ◂1HealthyAmple
More figures
Market cap
₹5.28 L cr
Book value
₹794
EPS
₹29.97
latest quarter
Net debt
₹1.06 L cr
owes more than its cash
Enterprise value
₹6.34 L cr
EBITDA
₹33,973 cr
annualised
EBIT
₹29,844 cr
annualised
Operating margin
11.0%
Return on assets
3.6%
Earnings yield
3.12%
P/S
1.94
Sales / share
₹1,975.4
Tax rate
28.0%
Face value
₹2
Shares
137.6 cr
Working capital
₹59,310 cr
Current assets
₹2.93 L cr
Current liabilities
₹2.34 L cr
Delivery %
56.4%
Strong / safeFairWeak / riskyValuation — a level, not good/badBands are general rules of thumb, not advice.

P/E, ROE, ROCE and margins are annualised from the latest quarter; per-share and balance-sheet ratios use the most recent balance sheet on file · prices as of 2026-09-17.

Worth vs price · from the exchange filings
not investment advice
Hard to value confidentlyLow confidence
The market price is far above what these earnings- and book-based models support — a fast-growing or asset-light business can trade well above them for years, so we won't put a confident number on how overpriced it is.
Models span ₹1,259₹1,624, midpoint ₹1,441

An educational model from the company's own filings, every assumption shown — not investment advice or a price target. Prices can stay above or below any model for years.

P&L · Q1 FY27 (consolidated)
Revenue from Operations₹67,942 cr
Other Income₹2,377 cr
Total Income₹70,318 cr
Cost of Materials₹20,959 cr
Purchases of Stock-in-Trade₹427 cr
Inventory Change (±)₹-1,791 cr
Employee Benefit Expense₹14,043 cr
Finance Costs₹539 cr
Depreciation & Amortisation₹1,032 cr
Other Expenses₹28,187 cr
Total Expenses₹63,396 cr
Profit before Tax₹6,922 cr
Tax Expense₹1,939 cr
Share of JV / Associates₹5 cr
Net Profit₹4,988 cr
Net margin on total income7.1%
Where the money goes · Q1 FY27
% of total income
Materials + stock-in-trade₹19,595 cr27.9%
Employee benefit expense₹14,043 cr20.0%
Finance costs₹539 cr0.8%
Depreciation & amortisation₹1,032 cr1.5%
Other expenses₹28,187 cr40.1%
Tax expense₹1,939 cr2.8%
Profit for the period₹4,988 cr7.1%
Total income ₹70,318 cradds up to ₹100 ✓
Quarterly results · consolidated (₹ cr)
MetricQ3 FY26Q4 FY26Q1 FY27
Revenue71,450 cr82,762 cr67,942 cr
Total income72,891 cr84,341 cr70,318 cr
Expenses65,730 cr75,999 cr63,396 cr
Profit before tax5,370 cr8,410 cr6,922 cr
Tax1,541 cr2,093 cr1,939 cr
Net profit (owners' share)3,215 cr5,326 cr4,123 cr
Net margin (owners' share, on revenue)4.5%6.4%6.1%
EPS (₹)23.3738.7129.97
YoY (latest quarter): total income +8.1% · net profit +14.0%
Balance sheet & cash flow · as of Mar 2026
Moderate debt
Total assets
₹4.53 L cr
Shareholder equity
₹1.09 L cr
parent shareholders
Total debt
₹1.22 L cr
Cash
₹15,391 cr
Cash flow · H1 FY26
Operating
₹3,816 cr
Investing
₹1,056 cr
Financing
₹-7,485 cr
Peer comparison
Civil Construction · by market value
CompanyPriceMarket capP/E
Larsen & Toubro Limitedthis company₹3,836₹5.28 L cr32.0
Rail Vikas Nigam Limited₹202₹42,055 cr66.3
Kalpataru Projects International Limited₹1,399₹23,900 cr19.3
IRB Infrastructure Developers Limited₹19₹22,767 cr18.9
NBCC (India) Limited₹82₹22,175 cr36.0
Cemindia Projects Limited₹1,255₹21,563 cr38.3
Engineers India Limited₹264₹14,824 cr23.5
Techno Electric & Engineering Company Limited₹985₹11,452 cr30.7
KEC International Limited₹402₹10,700 cr36.8
Same industry · latest reported numbers · not a recommendation.
Corporate actions
Dividend yield
0.99%
trailing 12 months
Dividend / share (TTM)
₹38
Last dividend
₹38
ex 22 May 2026
ActionDetailEx-date
Dividend₹38 / share22 May 2026
Dividend₹34 / share3 Jun 2025
Dividend₹28 / share20 Jun 2024
BuybackBuy Back12 Sep 2023
Dividend₹24 / share2 Aug 2023
Dividend₹6 / share2 Aug 2023
Who owns it · 2026-06-30
No pledge
Promoter
FII / Foreign
19.1%
DII / Domestic
43.0%
Retail / others
37.9%
Smart-money activity
Insider trades
BoughtSEN DK · Employees/Designated Employees900 · ₹30.4 L4 Jun 24
SoldIMRANKHAN BABU MAZHAR ALIKHAN · -300 · ₹11.7 L3 Jun 24
SoldSRAVANKUMAR Y V S · Employees/Designated Employees100 · ₹3.9 L3 Jun 24
Bulk / block deals
short · NSE1007 Sep 26
short · NSE13 Sep 26
short · NSE15331 Aug 26
Stake changes
SoldLife Insurance Corporation of India→ 12.23% · 2.81 cr10 Dec 21
SoldLife Insurance Corporation of India→ 14.25% · 2.82 cr25 Dec 19
SoldLife Insurance Corporation of India→ 16.27% · 2.83 cr10 Jun 19
What shareholders were asked to approve

A company cannot decide everything on its own. Things like a top executive’s pay, issuing new shares, or re-appointing a director have to be put to the people who own the company, and they vote — one vote per share. So whoever owns the most shares has the most say.

Postal ballot · 18 Jan 2026
See the official result
1
Appointment of Mr. Amitabh Kant (DIN: 00222708) as an Independent Director of the Company for a term of 5 years from October 29, 2025
Backed by 100% of shareholders other than promotersneeded 75%
100.01 cr votes for, 35.25 L against · 0% of mutual funds and other big investors said no
2
Appointment of Mr. B. Santhanam (DIN: 00494806) as an Independent Director of the Company for a term of 5 years from October 29, 2025
Backed by 100% of shareholders other than promotersneeded 75%
100.06 cr votes for, 29.71 L against · 0% of mutual funds and other big investors said no
3
Re-appointment of Ms. Preetha Reddy (DIN: 00001871) as an Independent Director of the Company for a term of 5 years effective March 1, 2026
Backed by 92% of shareholders other than promotersneeded 75%
92.56 cr votes for, 7.78 cr against · 10% of mutual funds and other big investors said no
4
Entering into Material Related Party Transactions with L&T-MHI Power Boilers Private Limited
Backed by 100% of shareholders other than promotersneeded 50%
63.49 cr votes for, 69,461 against · 0% of mutual funds and other big investors said no

Every vote count above is taken from the result the company filed with the stock exchange, certified by an independent counter. To work out what would have happened without the promoters, we simply remove their votes and re-apply the same legal bar the proposal had to clear. Nothing here is an estimate or an opinion.

How the stock has moved · adjusted for splits & bonuses
Data from primary exchange filings · analysis tool, not investment advice.