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Larsen & Toubro Limited (LT.NS)

INR3,945.80 +59.80 (+1.54%)
IN NSE Industrials Engineering & Construction
Address L&T House 400 001
Mumbai, MH, IN
CEO Sekharipuram Narayan Subrahmanyan
Website larsentoubro.com
IPO 2002-07-01
ISIN INE018A01030

Explore sections of this company profile

Also trades on Bombay Stock Exchange · LT.BO (INR) London Stock Exchange · LTOD.L (USD) National Stock Exchange of India · LT.NS (INR) Other OTC · LTOUF (USD)
Description

Larsen & Toubro Limited engages in engineering, procurement, and construction projects (EPC) in India and internationally. The Infrastructure Projects segment is involved in the engineering and construction of building and factories, transportation infrastructure, heavy civil infrastructure, power transmission and distribution, water and effluent treatment, and minerals and metals. The Energy Projects segment provides EPC solutions in 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 for defense, security, space, and industrial sectors; and electrolysers. The IT & Technology Services segment offers information technology and integrated engineering services, e-commerce/digital platforms and data centers, and semiconductor chip design solutions. The Financial Services segment provides retail finance. The Development Projects segment develops, operates, and maintains metro project comprising transit-oriented development, toll roads, power generation and development, thermal power, and green energy. The Others segment engages in realty, manufacture and sale of industrial valves; marketing and servicing of construction equipment, mining machinery and parts, and processing machinery. Larsen & Toubro Limited 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. Larsen & Toubro Limited was founded in 1938 and is headquartered in Mumbai, India.

Market Cap & Enterprise Value
Merger & Acquisition History

No mergers or acquisitions recorded for this company.

Technical Outlook
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Signal Summary Loading…
Indicator 1D1W2W3W1M
Each column is computed on that timeframe's candles (1D = daily, 1W ≈ weekly, 1M ≈ monthly), not on the same last day. ▲ bullish · ▼ bearish · — neutral. The Net row counts signals per column; hover any cell (or the indicator name) to see the exact rule behind it.
Day Score & sub-scores
Statistical fingerprint & regime detail
Conditional historical analysis
Customize analysis (advanced)
Indicative levels generated algorithmically. Not financial advice.
Risk Profile
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Price Chart
Averages
Trend
Price
Levels
Draw
INR3,945.80 +59.80 (+1.54%)
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Volume Profile
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Liquidity & share structure
Average Volume
3M
Beta
0.46
Float Shares
1.18B
Free Float %
85.5%
Price Performance
1D5D1M3M6M YTD1Y3Y5Y10YMax
-2.12% -4.26% -2.61% -7.87% -2.48% -5.56% +7.51% +73.63% +178.39% +339.54% +9,436.35%
Rolling Volatility
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Drawdown
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Relative Strength
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Monthly Returns Heatmap
From To
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Annual Monthly Returns
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Daily Returns Distribution
vs.
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Revenue flow

Revenue by geography

Revenue by segment

From To

Revenue composition

From To

By product

By geography

Financial Statements

Income Statement

Balance Sheet

Cash Flow Statement

Key Metrics

Financial Ratios

Employees

Financial Growth (CAGR)

Market Data

Price Targets & DCF
Current price
3,945.80
DCF (Levered) 12,707.44 +222.0%
Ratings Trend (MoM) 83% Bullish
Rating 2026-05 Change
Strong Buy 6 -1
Buy 19 -1
Hold 3 0
Sell 1 0
Strong Sell 1 0
Quality scores
Altman Z-Score
1.97
Grey zone
Piotroski F-Score
5 / 9
Average
MOAT Score
5 / 10
Developing
Composite Rating
B
Overall Score
3 / 5
Medium
DCF Score
4 / 5
High
ROE Score
4 / 5
High
ROA Score
4 / 5
High
D/E Score
1 / 5
Low
P/E Score
2 / 5
Medium
P/Book Score
2 / 5
Medium
Operational MOAT
✗ Below peers
  • ✓
    Revenue growth Engineering & Construction: +7.2%
    +15.4% ★ Q1'26: +7.9% (vs Q1'25)
  • ✓
    EPS growth Engineering & Construction: +28.6%
    +16.4% Q1'26: -3.1% (vs Q1'25)
  • ✗
    FCF margin Engineering & Construction: +26.6%
    -0.7% Q1'26: +1.4% (vs Q1'25)
  • ✗
    EBIT margin Engineering & Construction: +7.5%
    +10.2% ★ Q1'26: +4.0% (vs Q1'25)
  • ✗
    ROIC Engineering & Construction: +7.4%
    +10.3% ★ Q1'26: +5.1% (vs Q1'25)
  • ✓
    Share dilution Engineering & Construction: +0.0%
    -1.1% ★ Q1'26: 0.0% (vs Q1'25)
  • ✗
    Debt / EBITDA Engineering & Construction: -0.02×
    4.46× ★ Q1'26: 6.76× (vs Q1'25)
Valuation Multiples From To
Price Forecast (3Y) From To
Model
Adjust
P/E
Theoretical Return — If Invested Today

* These projections are based on analyst consensus estimates and user-defined valuation multiples. This table is for informational purposes only and does not constitute a recommendation to buy or sell any security. Past performance is not indicative of future results.

DCF Interactive Model (UFCF)
Projection years:
Market assumptions
▶ WACC components (optional)
Ke (Cost of Equity) = Rf + β (1.13) × ERP
WACC = 81% × Ke + 19% × Kd (4.0%) × (1−t)

Modifying these values recalculates WACC automatically.

Business assumptions
—
Intrinsic value (base): 1,396.90 Current price: 3,945.80
Enterprise Value: — Equity Value: — Terminal Value: — TV as % of EV: —

Base values reflect the latest available data for this company and market conditions.

Consensus Estimates
Metric Mar 2011
actual 		Mar 2012
actual 		Mar 2013
actual 		Mar 2014
actual 		Mar 2015
actual 		Mar 2016
actual 		Mar 2017
actual 		Mar 2018
actual 		Mar 2019
actual 		Mar 2020
actual 		Mar 2021
actual 		Mar 2022
actual 		Mar 2023
actual 		Mar 2024
actual 		Mar 2025
actual 		Mar 2026
29 Rev. Ana.
16 EPS Ana. 		Mar 2027
30 Rev. Ana.
27 EPS Ana. 		Mar 2028
28 Rev. Ana.
21 EPS Ana. 		Mar 2029
19 Rev. Ana.
9 EPS Ana. 		Mar 2030
23 Rev. Ana.
9 EPS Ana.
Revenue
515.52B
est: 533.07B (-3.3%)
643.13B
est: 625.99B (+2.7%)
753.49B
est: 727.95B (+3.5%)
844.19B
est: 824.51B (+2.4%)
930.59B
est: 923.88B (+0.7%)
1.02T
est: 1.01T (+0.8%)
1.11T
est: 1.10T (+0.7%)
1.21T
est: 1.21T (+0.1%)
1.37T
est: 1.39T (-1.8%)
1.48T
est: 1.50T (-1.5%)
1.39T
est: 1.38T (+1.1%)
1.59T
est: 1.57T (+1.1%)
1.86T
est: 1.83T (+1.6%)
2.25T
est: 2.19T (+2.8%)
2.60T
est: 2.59T (+0.5%)
2.90T
2.83T – 3.04T
+12.2% YoY
3.24T
3.09T – 3.60T
+11.7% YoY
3.75T
3.54T – 4.14T
+15.7% YoY
4.21T
3.99T – 4.66T
+12.2% YoY
4.57T
4.34T – 5.06T
+8.6% YoY
EBITDA
89.22B
est: 123.58B (-27.8%)
95.32B
est: 95.86B (-0.6%)
116.45B
est: 90.26B (+29.0%)
119.37B
est: 85.25B (+40.0%)
123.13B
est: 72.82B (+69.1%)
111.55B
est: 81.85B (+36.3%)
124.57B
est: 81.17B (+53.5%)
149.16B
est: 112.68B (+32.4%)
171.41B
est: 141.81B (+20.9%)
183.70B
est: 155.57B (+18.1%)
185.33B
est: 135.69B (+36.6%)
199.98B
est: 158.29B (+26.3%)
231.50B
est: 175.92B (+31.6%)
268.39B
est: 195.74B (+37.1%)
297.04B
est: 262.94B (+13.0%)
339.88B
331.35B – 356.26B
+29.3% YoY
379.62B
362.34B – 421.74B
+11.7% YoY
439.37B
414.97B – 485.47B
+15.7% YoY
493.14B
468.04B – 546.26B
+12.2% YoY
535.58B
508.31B – 593.27B
+8.6% YoY
EBIT
76.03B
est: 71.98B (+5.6%)
79.52B
est: 75.72B (+5.0%)
96.77B
est: 91.34B (+5.9%)
106.24B
est: 102.77B (+3.4%)
98.59B
est: 115.43B (-14.6%)
95.47B
est: 98.90B (-3.5%)
106.17B
est: 96.71B (+9.8%)
132.43B
est: 98.60B (+34.3%)
154.09B
est: 133.01B (+15.8%)
162.79B
est: 144.38B (+12.8%)
161.78B
est: 124.92B (+29.5%)
175.16B
est: 145.72B (+20.2%)
202.37B
est: 161.95B (+25.0%)
239.03B
est: 180.20B (+32.6%)
264.16B
est: 265.90B (-0.7%)
297.97B
290.49B – 312.32B
+12.1% YoY
332.81B
317.65B – 369.73B
+11.7% YoY
385.18B
363.79B – 425.60B
+15.7% YoY
432.33B
410.32B – 478.90B
+12.2% YoY
469.53B
445.63B – 520.11B
+8.6% YoY
Net Income
43.84B
est: 68.12B (-35.6%)
47.28B
est: 52.42B (-9.8%)
52.06B
est: 54.98B (-5.3%)
49.02B
est: 59.11B (-17.1%)
47.65B
est: 56.70B (-16.0%)
50.91B
est: 51.45B (-1.1%)
60.41B
est: 46.64B (+29.5%)
73.70B
est: 66.54B (+10.8%)
89.05B
est: 85.05B (+4.7%)
95.49B
est: 95.44B (+0.1%)
115.83B
est: 88.70B (+30.6%)
86.69B
est: 103.48B (-16.2%)
104.71B
est: 115.00B (-9.0%)
130.59B
est: 127.96B (+2.1%)
150.37B
est: 149.97B (+0.3%)
177.82B
162.65B – 191.19B
+18.6% YoY
202.75B
174.07B – 263.97B
+14.0% YoY
246.18B
226.86B – 275.11B
+21.4% YoY
286.10B
267.17B – 326.17B
+16.2% YoY
330.54B
308.67B – 376.83B
+15.5% YoY
SGA
30.55B
est: 66.50B (-54.1%)
20.81B
est: 80.53B (-74.2%)
96.45B
est: 86.82B (+11.1%)
20.32B
est: 101.94B (-80.1%)
142.27B
est: 146.38B (-2.8%)
201.86B
est: 145.83B (+38.4%)
203.81B
est: 211.98B (-3.9%)
224.30B
est: 234.91B (-4.5%)
237.52B
est: 274.90B (-13.6%)
311.17B
est: 306.00B (+1.7%)
331.16B
est: 330.96B (+0.1%)
409.36B
est: 386.08B (+6.0%)
491.87B
est: 429.08B (+14.6%)
564.05B
est: 477.43B (+18.1%)
644.71B
est: 559.55B (+15.2%)
615.94B
600.48B – 645.61B
+10.1% YoY
687.96B
656.63B – 764.29B
+11.7% YoY
796.23B
752.01B – 879.78B
+15.7% YoY
893.68B
848.19B – 989.95B
+12.2% YoY
970.58B
921.18B – 1.08T
+8.6% YoY
EPS
32.17
est: 32.90 (-2.2%)
34.14
est: 34.98 (-2.4%)
37.69
est: 38.32 (-1.7%)
35.31
est: 36.65 (-3.7%)
34.22
est: 32.09 (+6.7%)
30.32
est: 30.48 (-0.5%)
43.20
est: 38.06 (+13.5%)
52.62
est: 49.94 (+5.4%)
63.51
est: 62.82 (+1.1%)
78.38
est: 67.19 (+16.7%)
124.90
est: 52.17 (+139.4%)
71.50
est: 66.21 (+8.0%)
86.33
est: 75.94 (+13.7%)
93.96
est: 95.22 (-1.3%)
105.91
est: 108.43 (-2.3%)
129.28
118.24 – 139.00
+19.2% YoY
147.40
126.54 – 191.91
+14.0% YoY
178.97
164.93 – 200.00
+21.4% YoY
208.00
194.23 – 237.12
+16.2% YoY
240.30
224.40 – 273.95
+15.5% YoY
Historical Ratings (3M)
Date Rating Overall DCF ROE ROA D/E P/E P/B
2026-05-12 B+ 3/5 5/5 4/5 4/5 1/5 2/5 2/5
2026-05-11 B+ 3/5 5/5 4/5 4/5 1/5 2/5 2/5
2026-05-08 B+ 3/5 5/5 4/5 4/5 1/5 2/5 2/5
2026-05-07 B 3/5 3/5 4/5 4/5 1/5 2/5 2/5
2026-05-06 B 3/5 4/5 4/5 4/5 1/5 2/5 2/5
2026-05-05 C 2/5 4/5 1/5 1/5 1/5 2/5 1/5
2026-05-04 C 2/5 4/5 1/5 1/5 1/5 2/5 1/5
2026-04-30 C 2/5 4/5 1/5 1/5 1/5 2/5 1/5
2026-04-29 C 2/5 4/5 1/5 1/5 1/5 2/5 1/5
2026-04-28 C 2/5 4/5 1/5 1/5 1/5 2/5 1/5
2026-04-27 C 2/5 4/5 1/5 1/5 1/5 2/5 1/5
2026-04-24 C 2/5 4/5 1/5 1/5 1/5 2/5 1/5
2026-04-23 C 2/5 4/5 1/5 1/5 1/5 2/5 1/5
2026-04-22 C 2/5 4/5 1/5 1/5 1/5 2/5 1/5
2026-04-21 C 2/5 4/5 1/5 1/5 1/5 2/5 1/5
2026-04-20 C 2/5 4/5 1/5 1/5 1/5 2/5 1/5
2026-04-17 C 2/5 4/5 1/5 1/5 1/5 2/5 1/5
2026-04-16 C 2/5 4/5 1/5 1/5 1/5 2/5 1/5
2026-04-15 C 2/5 4/5 1/5 1/5 1/5 2/5 1/5
2026-04-13 C 2/5 4/5 1/5 1/5 1/5 2/5 1/5

Owner Earnings

Owner's Earnings (history) From To
Owner alignment
Owner's Earnings TTM
32.06B
OE per share TTM
23.31
Owner's Yield
0.58%
Maintenance CapEx ratio
21.25%
Maint CapEx / Avg PPE
8.5%

Ownership Overview

Ownership breakdown
At a glance
Institutional holders
1
Total invested
3.70M
Insider transactions (90d)
0
Beneficial owners (>5%)
0
Beneficial owners (>5%)

No beneficial ownership filings recorded.

Institutional Activity (13F)

Institutional ownership trend From To
13F snapshot — 2026 Q1
Investors holding
1
+0 vs prev Q
New positions
0
Closed positions
0
Increased
0
Reduced
0
Put/Call ratio
0.00
Calls held
—
Puts held
—
Top institutional holders
# Investor ⇅ Shares / Δ ⇅ Mkt value / Δ ⇅ Own% / Δ ⇅ Weight% / Δ ⇅ Avg px / Perf. ⇅ Hold / Status ⇅
1 STANLEY-LAMAN GROUP, LTD. 100.0K +— (+0.0%) 4.51M +384.6K (+9.3%) 0.01% -0.001 pp 0.57% -0.015 pp INR1,558.25 -97.1% 15 qtrs —
Ownership breakdown by holder

Insider Activity

Insider Activity — Latest Quarter

No insider activity available.

Insider buys vs sells (history)

Insider history not available.

Recent insider transactions

No recent insider transactions.

Executive team

Top executives
EBIT / Employee
4.36M
Shares Outstanding
1.38B

Executive compensation

Executive compensation (annual)

Executive compensation not available.

CEO compensation breakdown

No CEO compensation history available.

Proxy statements

Proxy statements (DEF 14A)

No proxy statements available for this company yet.

Recent SEC filings

Recent SEC filings

No SEC filings available for this company yet.

Executive team

NameTitleCompensationGender
Sekharipuram Narayanan Subrahmanyan MD & Chairman 763M male
Subramanian Sarma Deputy MD, President & Whole-Time Director 445M male
Ramamurthi Shankar Raman President, Chief Financial Officer & Whole-Time Director 373M male
Sudhindra Vasantrao Desai Senior EVP of Civil Infrastructure & Whole-Time Director 253M male
Tharayil Madhava Das Senior EVP of Utilities & Whole-Time Director 248M male
Anil Vithal Parab Senior EVP of Heavy Engineering & Manufacturing and Whole-Time Director 154M male
Subramanian Narayan Company Secretary & Compliance Officer 17M male
R. Govindan Senior Vice President of Corporate Finance & Enterprise Risk Management — male
Parameswaran Ramakrishnan Vice President of Corporate Accounts & Investor Relations — male
Kumar Hemant Group General Counsel — male
ESG Score History

No data available for this company.

Senate Trading Activity

No Senate trading activity found for this company.

House Trading Activity

No House trading activity found for this company.

Market share among peers
Peer comparison — filtered group (TTM)
Your opinion

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Dividend yield history

Dividend history

Earnings history

Earnings reports

Stock splits

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