Larsen & Toubro vs Rail Vikas Nigam
Larsen & Toubro trades below its peers' median P/E (28% below), Rail Vikas Nigam above it (114% above).
Larsen & Toubro earns the higher return on equity: 14.8% against 9.2%.
Larsen & Toubro grew revenue faster over three years: 16.0% a year against -0.1% a year.
Larsen & Toubro fires fewer of our forensic red flags: 1 of 26 judged against 5 of 30 judged.
The latest change on file is Larsen & Toubro's, on 27 Oct 2026: Q2 FY2027 results filed.
Larsen & Toubro trades at a P/E of 31.65: 6th of 19 among its peers (peer median 44.1).
Larsen & Toubro: the full company page →Rail Vikas Nigam trades at a P/E of 45.07: 19th of 21 among its peers (peer median 21.1).
Rail Vikas Nigam: the full company page →Larsen & Toubro and Rail Vikas Nigam, figure by figure
| Figure | Larsen & Toubro | Rail Vikas Nigam | Leads |
|---|---|---|---|
| Market cap | ₹5,65,502 Cr | ₹40,499 Cr | Larsen & Toubro, larger |
| P/E | 31.65 | 45.07 | Larsen & Toubro, cheaper |
| P/B | 6.47 | 5.87 | Rail Vikas Nigam, cheaper |
| Dividend yield | 1.0% | 0.9% | Larsen & Toubro, higher |
| ROE | 14.8% | 9.2% | Larsen & Toubro, higher |
| ROCE | 19.1% | 10.7% | Larsen & Toubro, higher |
| Profit margin | 5.8% | 4.2% | Larsen & Toubro, higher |
| Revenue growth, 3 years | 16.0% a year | -0.1% a year | Larsen & Toubro, faster |
| Profit growth, 3 years | 15.4% a year | -13.3% a year | Larsen & Toubro, faster |
| 1-year return | +4.9% | −38.5% | Larsen & Toubro, higher |
| 5-year return | +17.0% a year | +38.5% a year | Rail Vikas Nigam, higher |
| Quality score | 37.9 | 36.6 | Larsen & Toubro, higher |
| Our valuation view | Cheap, high confidence | Dear, low confidence | Larsen & Toubro, cheaper view |
| Risk level | WATCH | DANGER | Larsen & Toubro, lower |
| Forensic red flags | 1 red of 26 judged | 5 red of 30 judged | Larsen & Toubro, fewer |
The leading figure is in green: the lower for P/E, P/B, cost to income, NPAs, risk and red flags, the higher for the rest. P/E and P/B on the latest price; growth rates are yearly averages; returns are price only. Our valuation view and the red flags are explained on each company's page.
Which is bigger, Larsen & Toubro or Rail Vikas Nigam?
Larsen & Toubro is the bigger company by market value: ₹5,65,502 Cr against ₹40,499 Cr for Rail Vikas Nigam, about 14.0 times as large.
Larsen & Toubro market cap is ₹5,65,502 crore (large cap), making it the 9th largest listed company on the NSE.
Rail Vikas Nigam market cap is ₹40,499 crore (mid cap), making it the 232nd largest listed company on the NSE.
Which is cheaper on valuation, Larsen & Toubro or Rail Vikas Nigam?
Larsen & Toubro is the cheaper of the two on P/E: 31.65 against 45.07 for Rail Vikas Nigam.
On price to book, Rail Vikas Nigam is the cheaper: 5.87 against 6.47.
Against their own peers' median P/E, Larsen & Toubro trades 28% below its own (44.1) and Rail Vikas Nigam trades 114% above its own (21.1).
Our valuation view: cheap on Larsen & Toubro (high confidence) and dear on Rail Vikas Nigam (low confidence). The view weighs the multiples against each company's peers and its own history.
Which is more profitable, Larsen & Toubro or Rail Vikas Nigam?
Larsen & Toubro is the more profitable on return on equity: 14.8% against 9.2% for Rail Vikas Nigam.
ROCE: Larsen & Toubro 19.1%, Rail Vikas Nigam 10.7%.
Profit margin: Larsen & Toubro 5.8%, Rail Vikas Nigam 4.2%.
Which grew faster, Larsen & Toubro or Rail Vikas Nigam?
Larsen & Toubro grew faster over the last three years: revenue up 16.0% a year against -0.1% a year for Rail Vikas Nigam.
Profit growth, 3 years: Larsen & Toubro 15.4% a year, Rail Vikas Nigam -13.3% a year.
Which has cleaner accounts, Larsen & Toubro or Rail Vikas Nigam?
Larsen & Toubro has the cleaner accounts on our forensic checks: 1 red flag of 26 judged against 5 of 30 judged for Rail Vikas Nigam.
Larsen & Toubro: risk level WATCH, 26 of 30 flags judged.
Rail Vikas Nigam: risk level DANGER, 30 of 30 flags judged.
A red flag is a figure out of line with what clean accounts show, not a finding of wrongdoing.
What these figures tell you
More comparisons
What this page rests on
Every figure is the one Larsen & Toubro's and Rail Vikas Nigam's own pages print, from their filings with the exchanges and our arithmetic on them; each company is set against its own peer set. A side-by-side reading of the figures on both company pages, not a recommendation to buy, sell or hold either share. Which figure matters more depends on what you are looking for.