Larsen & Toubro Ltd.

NSE: LT · Civil Construction

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52W Range₹3,288 – ₹4,440

Snapshot

Unlock Larsen & Toubro Ltd.'s vital signs

Growth · Profitability · Valuation · Strength · Conviction

Company Overview

Business

Larsen & Toubro Limited is a prominent Indian multinational conglomerate primarily engaged in engineering, construction, and manufacturing operations. The company operates across diverse sectors including infrastructure, hydrocarbons, power, heavy engineering, and defence.

Business Model

The company generates revenue through engineering, procurement, and construction (EPC) contracts, manufacturing of critical industrial equipment, and the provision of turnkey solutions for large-scale infrastructure and energy projects. It also leverages digital platforms and service-oriented business models to support its core engineering operations.

  • Founded:1938

Growth Outlook

Growth is driven by sustained investment in national infrastructure, expansion in the defence and aerospace sectors, and the integration of digital technologies into traditional construction and manufacturing workflows.

Key Risks

  • Project Execution Risk. Large-scale infrastructure projects are susceptible to delays and cost overruns due to complex logistical and regulatory environments.
  • Commodity Price Volatility. Fluctuations in the prices of steel, cement, and energy can significantly impact profit margins on fixed-price EPC contracts.
  • Geopolitical Instability. As a global player, the company faces risks related to international trade policies and political instability in regions where it executes projects.
  • Regulatory and Policy Changes. Changes in government spending priorities or environmental regulations could affect the demand for large-scale industrial and infrastructure projects.

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Key Metrics

REVENUE

₹2,90,137 Cr

TTM · consolidated

+9.8%YoY

NET PROFIT

₹19,624 Cr

TTM · consolidated

+9.7%YoY

EPS

₹120.59

TTM · consolidated

+4.5%YoY

RETURN ON EQUITY

19.0%

TTM · consolidated

+0.7 ppYoY

RETURN ON CAPITAL EMPLOYED

15.0%

TTM · consolidated

-0.8 ppYoY

P/E

32.7×

Q1 FY27 · consolidated

32.7 vs 57.0x5Y avg

EV/EBITDA

18.1x

Q1 FY27 · consolidated

18.1 vs 31.1x5Y avg

EBITDA MARGIN

12.3%

TTM · consolidated

+0.3 ppYoY

NET PROFIT MARGIN

7.3%

Q1 FY27 · consolidated

+0.5 ppYoY

DEBT TO EQUITY

1.1x

Q1 FY27 · consolidated

-0.02xYoY

Peers · Civil Construction

CompanyMkt CapP/E (TTM)EV/EBITDARev Gr YoYEBITDA MgnROEROCE1Y Return
Larsen & Toubro Ltd.LT
₹5.42L Cr32.7×18.159.8%12.3%19.0%15.0%-2.3%
Rail Vikas Nigam Ltd.RVNL
₹38,804 Cr43.2×27.275.4%7.6%9.2%10.5%-43.4%
Kalpataru Projects International Ltd.KPIL
₹22,689 Cr20.0×10.0214.6%8.9%15.8%21.7%+5.7%
NBCC (India) Ltd.NBCC
₹20,555 Cr27.8×17.863.5%7.5%27.9%32.9%-35.2%
IRB Infrastructure Developers Ltd.IRB
₹19,675 Cr15.1×9.03-2.2%56.7%4.7%6.2%-63.6%
Engineers India Ltd.ENGINERSIN
₹16,280 Cr18.1×15.706.0%27.2%29.7%31.7%+43.3%

As of Q1 FY27

Financials