LT · NSE · Civil Construction
Larsen & Toubro Ltd
What the numbers mean, from its filings and the exchange. Data as of 12 Oct 2026.
Large Cap · AMFI list Jan-Jun 2026 · Vendor sector: Real Estate
cheap
low confidence
No valuation within 120 days; P/E 30.7 vs peers 48.1 (1st of 10); P/B 6.5 vs peers 12.4 (3rd of 10).
Statements through FY2026Prices adjusted for 4 corporate actionsNot yet reviewed by the adversarial model
What is Larsen & Toubro's share price today?
Larsen & Toubro last traded at ₹3,627.50 on the NSE, as of 12 Oct 2026, 11:00 pm IST, down 2.0% on the day, down 1.8% over a year. Its 52-week range is ₹3,288 to ₹4,440. The live price is in the app.
₹3,627.50
−2.0% today
−1.8% over 1 year · NSE, as of 12 Oct 2026, 11:00 pm IST
60 month-end closes, 31 Oct 2021 to 30 Sep 2026, adjusted for splits and bonuses
52-week range29% of the way up
Low ₹3,288High ₹4,440
What is Larsen & Toubro's market cap?
Larsen & Toubro's market capitalisation is about ₹5.10 lakh crore: what it would cost to buy every share at today's price. That makes it the 8th largest large cap company we cover.
₹5.1 L Cr
Large Cap8th largest large cap company
Share price₹3,628
×
Shares in issue140 crore
=
Market cap₹5.1 L Cr
Large Cap means the 100 largest listed companies, under SEBI's rules. Shares in issue are worked out from the market cap and the price. What market cap tells you →
Key facts
From the exchange
- Symbol
- NSE: LT
- ISIN
- INE018A01030
- Cap bucket
- Large Cap, 8th largest by market cap
- Industry (NSE)
- Industrials › Construction › Civil Construction
- Listed since
- 2004
- Futures and options
- Traded
Is Larsen & Toubro overvalued?
Cheap, with low confidence: no valuation within 120 days; P/E 30.7 vs peers 48.1 (1st of 10); P/B 6.5 vs peers 12.4 (3rd of 10).
Valuation
Latest price and trailing 12 months
P/E
30.71
vs peers 48.1 · 1st of 10
Price divided by last year's earnings per share: how many years of today's profit you pay for. Learn more →
P/B
6.47
vs peers 12.4 · 3rd of 10
Price divided by book value per share: what you pay for each rupee of net assets on the balance sheet. Learn more →
Market cap
₹5.10 lakh Cr
Total market value of all shares, in ₹ crore. Learn more →
Dividend yield
1.1%
vs peers 0.7% · 3rd of 9
Last year's dividends as a share of today's price. Learn more →
PEG (vendor)
5.92
vs peers 1.5 · 5th of 7
P/E divided by the vendor's earnings growth figure, which it does not disclose; a P/E adjusted for how fast profits grow. Learn more →
PEG on our 3-year EPS growth
1.89
P/E divided by the 3-year EPS growth rate from the stored accounts. Learn more →
Is Larsen & Toubro a quality business?
Quality score 39.4, 8th of 10 in its peer set; WATCH on 26 of 30 flags judged.
Quality and risk
Data as of 12 Oct 2026
Business quality
Not available
The kind of business, which sets the yardstick it is judged by. Learn more →
Quality score
39.4
vs peers 52.7 · 8th of 10
Returns, margins, leverage and consistency against its peers, out of 100. Learn more →
Risk level
WATCH
26 of 30 flags judged
From flags on debt, earnings quality, dilution and price swings. Learn more →
Profitability
ROE
14.8%
vs peers 22.4% · 8th of 10
Return on equity: profit as a share of shareholders' money. Learn more →
ROCE
19.1%
vs peers 28.1% · 7th of 10
Return on capital employed: operating profit as a share of all the capital in the business, debt and equity. Learn more →
Profit margin
5.6%
vs peers 16.1% · 9th of 10
Profit after everything, as a share of revenue. Learn more →
EPS
₹139.28
Trailing 12 months
Profit for each share over the last 12 months.
Inside the app
Get a sneak peek of Valarth
Has Larsen & Toubro made money for shareholders?
Mixed: −1.8% over one year and +17.2% a year over five years.
Shareholder returns
5-year return
+17.2% a year
Price only
Yearly average price return over five years, bonuses and splits adjusted. Learn more →
Wealth destroyer
No
Five-year total return — price CAGR on bonus- and split-adjusted closes plus the dividend yield — below the 7% a bank fixed deposit paid. Learn more →
Returns
3Y and 5Y are yearly averages
1W
−1.2%1M
−3.8%3M
−5.7%6M
−6.3%1Y
−1.8%3Y
+8.7%5Y
+17.2%Does Larsen & Toubro pay a dividend?
Yes. Larsen & Toubro's dividend yield is 1.08% at the latest price; the last payout was ₹38.00 a share, ex-dividend 22 May 2026.
Dividends
Per share, by ex-dividend date
Dividend yield1.08%
The past 12 months' dividends as a share of today's price.
22 May 2026 · Final₹38.00
3 Jun 2025 · Final₹34.00
20 Jun 2024 · Final₹28.00
2 Aug 2023 · Final₹24.00
2 Aug 2023 · Special₹6.00
Payout ratio🔒 In the app
The share of profit paid out as dividends; a very high share leaves little to reinvest.
Dividend growth, 5 years🔒 In the app
How fast the dividend per share has grown a year.
Years without a miss🔒 In the app
How many years in a row a dividend has been paid.
Is Larsen & Toubro growing?
Revenue 3 years 16.0% a year; profit 3 years 15.4% a year; revenue 5 years 13.3% a year.
Growth
Statements through FY2026 (Mar-26)
Revenue 3 years
16.0% a year
vs peers 16.0% · 5th of 7
Compound annual growth of revenue over three years. Learn more →
Profit 3 years
15.4% a year
vs peers 25.5% · 6th of 7
Compound annual growth of net profit over three years. Learn more →
Revenue 5 years
13.3% a year
Compound annual growth of revenue over five years. Learn more →
Profit 5 years
13.9% a year
Compound annual growth of net profit over five years. Learn more →
EPS 3 years
16.2% a year
Growth in earnings per share, so dilution counts against the company. Learn more →
EPS 5 years
7.2% a year
Growth in earnings per share over five years, so dilution counts against the company. Learn more →
P/E vs own history
-8.7%
vs peers 6.6% · 2nd of 7
Today's P/E against its own 5-year median; negative is cheaper than its history. Learn more →
How did Larsen & Toubro do last quarter?
Larsen & Toubro reported revenue of ₹67,942 Cr, up 11.8% on a year earlier and a net profit of ₹4,983 Cr, up 8.3% in the Jun 2026 quarter.
Latest quarter
Jun 2026
Revenue, latest quarter₹67,942 Cr
+11.8% on a year earlier
What the company took in over the quarter.
Net profit, latest quarter₹4,983 Cr
+8.3% on a year earlier
What was left for shareholders after every cost and tax.
How does Larsen & Toubro compare with its peers?
Compared with 9 Industrials (the broad sector); 1st of 10 on P/E; 8th of 10 on quality score.
Compared with 9 Industrials (the broad sector)
9 companies
- Larsen & Toubro Ltd (this page)
- Hindustan Aeronautics Ltd
- Bharat Electronics Ltd
- Tata Motors Ltd
- Bharat Heavy Electricals Ltd
- ABB India Ltd
- Hitachi Energy India Ltd
- CG Power & Industrial Solutions Ltd
- Cummins India Ltd
- Siemens Ltd
Larsen & Toubro against its peers
Largest 9 of 9 peers, by market cap
CompanyMarket capP/EP/BROEROCE1YQuality 🔒Rank 🔒
Larsen & Toubro Ltd₹5.1 L Cr30.76.514.8%19.1%−1.8%
Tata Motors Ltd₹1.5 L Cr36.010.853.5%48.5%+24.5%
ABB India Ltd₹1.4 L Cr48.114.022.4%29.8%+31.7%
Peer median—48.112.422.4%28.1%+22.1%
Market cap in rupees crore; P/E and P/B on the latest price; 1Y is the price return over a year. A dash is a figure that does not apply or is not reported.
Who owns Larsen & Toubro?
Larsen & Toubro has no promoter holding; it is widely held.
Shareholding pattern
Latest filing, percent of shares
Promoters0.0%
The founders and controlling group.
Foreign institutions19.0%
Overseas funds investing through the FPI route.
Domestic institutions42.6%
Indian insurers, banks, pension and mutual funds together.
Mutual funds19.9%
Indian mutual fund schemes; part of domestic institutions.
Retail and others18.6%
Individual investors and everyone else.
Promoter shares pledged🔒 In the app
Promoter shares given as collateral for loans; a high share is a risk to watch.
Holding trend🔒 In the app
Whether promoters, foreign funds and mutual funds have been adding or selling over recent quarters.
What do analysts say about Larsen & Toubro?
29 analysts cover Larsen & Toubro, and the consensus is buy. A consensus is a count of opinions, not a forecast; read it beside the numbers.
Analyst consensus
29 analysts
ConsensusBuy
The rating most covering analysts give the share.
Average target price🔒 In the app
The mean of the analysts' 12-month price targets.
Upside to target🔒 In the app
How far the target sits above or below today's price.
Share rating it a buy🔒 In the app
The share of covering analysts with a buy rating.
What does Larsen & Toubro do and what is it sensitive to?
L&T is a diversified engineering, procurement and construction (EPC) conglomerate serving infrastructure, energy, and industrial sectors. Sensitive to: foreign exchange rate volatility.
Business-model card
FY2025 · 70 verified
6Revenue
3Channels
3Regulators
8Reg. dependencies
6Sensitivities
8Costs
8Geographies
L&T is a diversified engineering, procurement and construction (EPC) conglomerate serving infrastructure, energy, and industrial sectors. It earns revenue primarily through EPC projects (~80% from government/public sector customers) and manufacturing of equipment and systems, with a growing digital services subsidiary (LTIMindtree) and real estate business.
Revenue by segment
year ended March 31, 2025 (Consolidated)
Infrastructure Projects50.8%
Energy Projects15.9%
Hi-Tech Manufacturing3.8%
IT & Technology Services18.7%
Financial Services5.9%
Development Projects2.1%
Others2.8%
Revenue engine
6 verified
Infrastructure Projects segment
Engineering and construction of buildings & factories, transportation infrastructure, heavy civil infrastructure, power transmission & distribution, renewables, water & effluent treatment, minerals and metals
Energy Projects segment
EPC solutions in oil & gas, refineries, petrochemicals, offshore wind energy, power generation plants, and CarbonLite Solutions
Subsidiary LTIMindtree: IT and digital services
Provides technology transformation services including cloud, big data, AI/ML, AR/VR, 5G, cybersecurity, automation and Industry 4.0 to hi-tech, media and services sectors
3 more statements
Subsidiary L&T Realty: Real estate
Residential, commercial buildings, public spaces (stadiums, hotels, malls), and airports; focusing on top seven cities with luxury segment strength
Manufacturing and fabrication facilities
Production of equipment and systems for process industries including transmission line towers, precast elements, galvanised products
Digital Energy Solutions (DES)
End-to-end electricity-related consulting and digital services globally through proprietary software solutions in Power Transmission & Distribution
Customers & channels
3 verified
Government customers (sovereign, sub-national, local) and public sector entities (80.0%)
Largest customer base representing ~80% of total revenue, primary driver of large-scale infrastructure and digital transformation projects
Private sector customers (20.0%)
Indian and foreign companies in various sectors, based on long-term relationships developed through execution excellence; comprise ~20% of total revenue
International project execution (29.0%)
Export revenues representing 29% of total turnover, with major presence in USA, Saudi Arabia, UAE, Qatar and other countries; also exploring GCC and APAC regions
Regulators
3 verified
Bureau of Energy Efficiency
Regulates carbon credit trading scheme and participation framework for non-obligated entities in Indian carbon market
Environmental regulatory bodies
Set and enforce standards related to environmental protection, impacting project design and construction practices
Labour and data privacy regulators
Enforce standards on labour compliance and data protection across business operations
Regulatory dependencies
8 verified
Government policy support for infrastructure investment
Continuation of stable macroeconomic conditions and supportive policy framework critical for order inflows and growth in infrastructure segments; slowdown in infrastructure investments could impact growth prospects
UDAN (Ude Desh ka Aam Nagrik) policy and Air Cargo Policy
Supportive government policies driving investments in airport projects across the country
Pradhan Mantri Awas Yojana (PMAY) and Floor Space Index (FSI) relaxations
Policy support aiding market expansion in residential real estate, particularly in top seven cities
5 more statements
Semiconductor industry government incentives
Government incentives and investments in semiconductor manufacturing driving growth opportunities for commercial buildings and cleanroom facilities
Central Government initiatives: Target Olympic Podium Scheme (TOPS)
Drives increased traction in Public Spaces business including sports development projects
Government healthcare spending and policy
India's government plans to add 75,000 medical seats by FY 2030-31 and establish 200 daycare cancer centres; government spending projected at 2.5% of GDP on healthcare sector
Central Vista Redevelopment plans
Government redevelopment schemes creating opportunities for Public Spaces business
Commodity price pass-through provisions
Contractual mechanisms allow pricing adjustments for commodity price movements; price variation clauses protect margin on awarded projects
Sensitivities
6 verified
Foreign exchange rate volatility
Changes in exchange rates may adversely affect revenues, costs, and profitability; competitive pressures may force local currency pricing adjustments when FX volatility is significant
Commodity price fluctuations (steel, copper, aluminium, zinc, lead, nickel, cement)
Projects have direct and indirect linkages to commodity prices; volatility impacts margins on firm-price bids; residual risk exists where price variation clauses do not fully offset movements
Interest rate risk on floating rate debt
Major portion of foreign currency debt linked to international benchmarks like SOFR; exposure to interest rate changes on floating rate outstanding debt
3 more statements
Geopolitical tensions and tariff barriers
External risks including rising tariff barriers, stretched supply chains, and continuing geopolitical tensions could slow growth
Residential real estate sensitivity to interest rates and household confidence
Strong growth driven by stable interest rates and rising household confidence; residential sales reached new highs in FY2025
Airport sector growth driven by passenger traffic
Passenger traffic increasing at 13% y-o-y rate; rising demand from Tier II and Tier III cities creates opportunities for greenfield airports and expansion
Cost inputs
8 verified
Raw materials and components
Primary cost driver in manufacturing; consumed at ₹15,219.90 crore in FY2025 (net of scrap sales)
Construction materials consumed
Major cost line at ₹45,457.97 crore in FY2025 for EPC and construction projects
Sub-contracting charges
Significant cost driver at ₹35,741.21 crore in FY2025 for project execution and specialized work
5 more statements
Power and fuel
Operating cost at ₹2,181.21 crore in FY2025 for manufacturing and construction operations
Rent and hire charges
Operational cost at ₹4,525.54 crore in FY2025 for equipment, facilities and workspace
Engineering, professional, technical and consultancy fees
Specialist services cost at ₹2,635.04 crore in FY2025 for project delivery and technical support
Finance cost of financial services and finance lease activities
Interest and finance charges at ₹6,302.23 crore in FY2025 for financial services and lease operations
Interest expenses and borrowing costs
Finance costs at ₹3,137.24 crore in FY2025 on debt; borrowing costs on qualifying assets capitalized/inventorised
Geographies
8 verified
India (domestic market)
Primary market contributing ₹128,168.58 crore in FY2025 revenue; government and public sector entities are largest customers for infrastructure projects
Kingdom of Saudi Arabia
Major international market contributing ₹61,002.04 crore in FY2025 revenue, nearly doubled from prior year
United States of America
Significant international market contributing ₹33,448.58 crore in FY2025 revenue
5 more statements
United Arab Emirates
Growing market contributing ₹9,469.87 crore in FY2025 revenue, tripled from prior year
GCC (Gulf Cooperation Council) countries
Strategic growth region where L&T Realty and airport business are exploring infrastructure development opportunities
APAC (Asia-Pacific) region
Broader regional focus for data center business and infrastructure expansion opportunities
Tier II and Tier III cities in India
Emerging healthcare and airport investment hubs; rising air travel demand from these cities creating opportunities for greenfield airports and medical facilities
Bihar, Odisha, Chhattisgarh and Jharkhand
Emerging investment hubs for healthcare expansion
Each statement is checked word for word against the FY2025 annual report; the passages are in the app.
What changed recently?
Q1 FY2027 results filed (28 Jul 2026).
Change log
8 entries · newest first
- Results filedQ1 FY2027 results filed.
- Corporate actionDividend - Rs 38 Per Share.
- Results filedQ4 FY2026 results filed.
- Results filedQ3 FY2026 results filed.
- Results filedQ2 FY2026 results filed.
- Results filedQ1 FY2026 results filed.
- Results filedQ4 FY2025 results filed.
- Corporate actionDividend - Rs 34 Per Share.
Get alerts →Sign in to be told when any of these change.
What this page does not tell you
What could not be judged, and why. Never empty.
- Models not runFair value, EPV, Graham number, Graham value, Lynch, Owner earnings: no valuation stored.
- FlagsWATCH on 26 of 30 flags judged; 1 red; 4 could not be judged.
- Data gapsBusiness quality: not available yet.
What this page rests on
✓10 years of annual statements, through FY2026 (Mar-26)✓10 quarters of results✓268 months of month-end prices, adjusted for bonuses and splits (4 corporate actions)○no valuation of ours yet✓business-model card FY2025 · 70 verified
Questions people ask
What is Larsen & Toubro's share price today?
Larsen & Toubro last traded at ₹3,627.50 on the NSE, as of 12 Oct 2026, 11:00 pm IST, down 2.0% on the day, down 1.8% over a year. Its 52-week range is ₹3,288 to ₹4,440. The live price is in the app.
What is Larsen & Toubro's market cap?
Larsen & Toubro's market capitalisation is about ₹5.10 lakh crore: what it would cost to buy every share at today's price. That makes it the 8th largest large cap company we cover.
Is Larsen & Toubro Ltd a large cap, mid cap or small cap?
Larsen & Toubro Ltd (LT) is a large cap company in AMFI's classification for Jan-Jun 2026. SEBI's buckets go by rank on six-month average market capitalisation: the top 100 are large caps, 101 to 250 mid caps, the rest small caps.
What is Larsen & Toubro Ltd's P/E ratio?
30.71, vs peers 48.1 · 1st of 10. Price divided by last year's earnings per share: how many years of today's profit you pay for.
Is Larsen & Toubro Ltd overvalued?
Cheap, with low confidence: no valuation within 120 days; P/E 30.7 vs peers 48.1 (1st of 10); P/B 6.5 vs peers 12.4 (3rd of 10).
How does Larsen & Toubro Ltd make money?
L&T is a diversified engineering, procurement and construction (EPC) conglomerate serving infrastructure, energy, and industrial sectors. It earns revenue primarily through EPC projects (~80% from government/public sector customers) and manufacturing of equipment and systems, with a growing digital services subsidiary (LTIMindtree) and real estate business.
Who are Larsen & Toubro Ltd's peers?
Compared with 9 Industrials (the broad sector): Hindustan Aeronautics Ltd, Bharat Electronics Ltd, Tata Motors Ltd, Bharat Heavy Electricals Ltd, ABB India Ltd and 4 more. The app shows how they compare on every figure.
Is this investment advice?
No. Valarth is a research and learning tool and is not a SEBI-registered investment adviser or research analyst. The figures come from the company's filings and the exchanges; what to do with them is your call.
How did Larsen & Toubro do last quarter?
Larsen & Toubro reported revenue of ₹67,942 Cr, up 11.8% on a year earlier and a net profit of ₹4,983 Cr, up 8.3% in the Jun 2026 quarter.
Who owns Larsen & Toubro?
Larsen & Toubro has no promoter holding; it is widely held.
Does Larsen & Toubro pay a dividend?
Yes. Larsen & Toubro's dividend yield is 1.08% at the latest price; the last payout was ₹38.00 a share, ex-dividend 22 May 2026.
What do analysts say about Larsen & Toubro?
29 analysts cover Larsen & Toubro, and the consensus is buy. A consensus is a count of opinions, not a forecast; read it beside the numbers.