| ₹ crore | Q2 FY27 | Q2 FY26 | Change |
|---|---|---|---|
| Revenue | 78,750 | 67,984 | +15.8% |
| EBITDA | 6,845 | 6,806 | +0.6% |
| EBITDA margin | 8.7% | 10.0% | −1.3 pts |
| Profit before tax | 7,641 | 6,336 | +20.6% |
| Net profit | 5,949 | 4,678 | +27.2% |
| EPS | ₹37.81 | ₹28.54 | +32.5% |
Amounts on the left scale in ₹ crore; per cent on the right, dashed. L = lakh crore, K = thousand crore. Touch the chart to read any period.
| Tap a line for its trend | Currentlast 12M | FY26Mar 2026 | FY25Mar 2025 | FY24Mar 2024 | FY23Mar 2023 | FY22 and earlierAlpha Plus |
|---|
| 5,22,926 | — | — | — | — | FY22 and earlierEvery year the company has filed comes with Alpha Plus. | |
| 89,621 | 74,916 | 55,548 | 46,916 | 52,500 | ||
| 20,227 | 19,241 | 17,748 | 16,190 | 14,241 | ||
| 1,21,683 | 1,21,683 | 93,365 | 1,14,040 | 1,18,513 | ||
| 5,75,214 | — | — | — | — | ||
| 3,00,904 | 2,85,874 | 2,55,734 | 2,21,113 | 1,83,341 | ||
| — | +11.8% | +15.7% | +20.6% | — | ||
| 28,988 | 29,151 | 26,435 | 23,494 | 20,753 | ||
| 9.6% | 10.2% | 10.3% | 10.6% | 11.3% | ||
| 24,679 | 24,786 | 22,314 | 19,811 | 17,251 | ||
| 20,895 | 18,954 | 15,037 | 15,547 | 12,531 | ||
| 6.9% | 6.6% | 5.9% | 7.0% | 6.8% | ||
| ₹129.87 | ₹116.92 | ₹90.15 | ₹94.93 | ₹76.11 | ||
| — | +29.7% | −5.0% | +24.7% | — | ||
| — | 16,741 | 9,161 | 18,266 | 22,777 | ||
| — | −4,809 | −4,419 | −4,517 | −4,144 | ||
| 11,932 | 11,932 | 4,742 | 13,750 | 18,633 | ||
From the company's filings with NSE and BSE (Ind-AS), consolidated. For information only, not investment advice.
In ₹ Crore except Per Share 12 Months Ending | FY23 31/03/2023 | FY24 31/03/2024 | FY25 31/03/2025 | FY26 31/03/2026 | Current/LTM TTM · last close | |
|---|---|---|---|---|---|---|
| Market Capitalization | — | — | — | — | 5,22,925.8 | |
| - Cash, Equiv & ST Investments | 52,500.1 | 46,916.1 | 55,547.6 | 74,916.1 | 89,621.4 | |
| + Minority Interest | 14,241.3 | 16,190.4 | 17,748.1 | 19,240.7 | 20,226.6 | |
| + Total Debt | 1,18,513.4 | 1,14,039.8 | 93,364.6 | 1,21,683.0 | 1,21,683.0 | |
| Enterprise Value | — | — | — | — | 5,75,214.0 | |
| Revenue | 1,83,340.7 | 2,21,112.9 | 2,55,734.5 | 2,85,874.4 | 3,00,903.5 | |
| Growth %, YoY | — | +20.6 | +15.7 | +11.8 | — | |
| EBITDA | 20,753.3 | 23,493.7 | 26,434.7 | 29,151.1 | 28,988.2 | |
| Margin % | 11.32 | 10.63 | 10.34 | 10.20 | 9.63 | |
| EBIT | 17,251.0 | 19,811.3 | 22,313.6 | 24,786.4 | 24,679.3 | |
| Net Income | 12,530.6 | 15,547.1 | 15,037.1 | 18,953.9 | 20,894.9 | |
| Margin % | 6.83 | 7.03 | 5.88 | 6.63 | 6.94 | |
| EPS, Adj (current shares) | 76.11 | 94.93 | 90.15 | 116.92 | 129.87 | |
| Growth %, YoY | — | +24.7 | -5.0 | +29.7 | — | |
| Cash from Operations | 22,777.0 | 18,266.3 | 9,160.7 | 16,741.0 | — | |
| Capital Expenditures | -4,143.8 | -4,516.5 | -4,418.8 | -4,809.2 | — | |
| Free Cash Flow | 18,633.2 | 13,749.8 | 4,741.9 | 11,931.8 | 11,931.8 | |
Prices at the 29 October 2026 close · figures from the company's filings with NSE
Larsen & Toubro (NSE: LT) had a market capitalisation of ₹5,27,947 crore at the 29 October 2026 close (₹3,837.10 a share), a PE ratio of 29.6 on the last four quarters' profit and a price-to-book ratio of 4.67. In FY26 its consolidated net profit attributable to shareholders was ₹16,084 crore on revenue of ₹2,85,874 crore; in Q2 FY27 (July–September 2026) it was ₹5,202 crore, up 32.5% year on year. Its debt-to-equity ratio was 1.02 on 30 September 2026.
L&T's PE ratio is 29.6 at the 29 October 2026 close (₹3,837.10 a share): a market capitalisation of ₹5,27,947 crore divided by consolidated net profit attributable to shareholders of ₹17,866 crore over the last four quarters (Q3 FY26 to Q2 FY27). On FY26 net profit attributable to shareholders (₹16,084 crore) it is 32.8.
L&T's price-to-book (PB) ratio is 4.67 at the 29 October 2026 close: a market capitalisation of ₹5,27,947 crore divided by shareholders' equity (book value) of ₹1,13,029 crore on 30 September 2026. That is a book value of ₹821.49 per share against a share price of ₹3,837.10.
L&T's net worth — shareholders' equity in its consolidated balance sheet — was ₹1,13,029 crore (₹1.13 lakh crore) on 30 September 2026, up 11.5% from ₹1,01,384 crore a year earlier. Its market value is a different figure: a market capitalisation of ₹5,27,947 crore at the 29 October 2026 close.
L&T's market capitalisation was ₹5,27,947 crore (₹5.28 lakh crore) at the 29 October 2026 close: 137.59 crore shares at ₹3,837.10 each.
L&T's basic earnings per share (EPS) were ₹116.93 in FY26, against ₹109.36 in FY25. Over the last four quarters (Q3 FY26 to Q2 FY27) they add up to ₹129.86.
In 2026, L&T has declared one dividend: ₹38 with record date 22 May 2026.
No. L&T had borrowings of ₹1,36,227 crore on 30 September 2026 (consolidated balance sheet), a debt-to-equity ratio of 1.02. Its cash and current investments were ₹97,435 crore, so its net debt was ₹38,792 crore.
L&T's debt-to-equity ratio was 1.02 on 30 September 2026: borrowings of ₹1,36,227 crore against total equity of ₹1,33,255 crore. A year earlier, on 30 September 2025, it was 1.09.
L&T's dividend yield is 0.99% at the 29 October 2026 close: dividends of ₹38 a share that went ex-dividend in the 12 months before that day, divided by the share price of ₹3,837.10. They were ₹38 on 22 May 2026.
In FY26, L&T's return on equity (ROE) was 15.5% and its return on capital employed (ROCE) was 12.5%. ROE is net profit attributable to shareholders divided by average shareholders' equity (the start and end of the year); ROCE is operating profit (EBIT) divided by average capital employed (total assets less current liabilities). In FY25, ROE was 13.5% and ROCE 13.1%.
L&T's book value per share was ₹821.49 on 30 September 2026: shareholders' equity of ₹1,13,029 crore divided by the 137.59 crore shares in issue, up 11.5% from ₹737.04 a year earlier. The share price at the 29 October 2026 close was ₹3,837.10.
On 30 September 2026, L&T's shares were held by foreign portfolio investors (FII/FPI) 19.21%, domestic institutions (DII) 42.86% (including mutual funds at 19.39%) and retail and other non-institutional investors 37.67%. Over the year, FII holding was down 0.27 percentage points from 19.48% and DII holding was down 0.49 percentage points from 43.35%.
L&T has no promoter group: on 30 September 2026 promoters held 0% of its shares, according to the shareholding pattern filed with NSE. Foreign portfolio investors held 19.21% and domestic institutions 42.86%.
In FY26, L&T generated ₹16,741 crore of cash from operations and spent ₹4,809 crore on capital expenditure (property, plant, equipment and intangibles), leaving free cash flow of ₹11,932 crore. In FY25 it was ₹4,742 crore.
L&T has reported Q2 FY27. Its next results, for Q3 FY27 (October–December 2026), are due by 14 February 2027 under SEBI's 45-day rule; the company notifies the board-meeting date at least two working days before.
L&T's latest results are for Q2 FY27 (July–September 2026), filed on 27 October 2026: consolidated net profit attributable to shareholders ₹5,202 crore, up 32.5% from ₹3,926 crore in Q2 FY26; revenue from operations ₹78,750 crore, up 15.8% year on year.
In FY26 (April 2025–March 2026), L&T's consolidated net profit attributable to shareholders was ₹16,084 crore, up 7.0% from ₹15,037 crore in FY25, on revenue from operations of ₹2,85,874 crore (up 11.8%). Over three years, from FY23, net profit was up 53.6%.
In FY26, L&T earned net profit attributable to shareholders of ₹16,084 crore on revenue of ₹2,85,874 crore, against ₹875 crore on ₹20,412 crore for RVNL. L&T's operating margin was 8.7% (RVNL 3.6%) and its return on equity 15.5% (RVNL 9.0%). At the 29 October 2026 close, L&T's market capitalisation was ₹5,27,947 crore against ₹38,781 crore for RVNL, and its PE ratio on FY26 profit 32.8 against 44.3.
On FY26 consolidated figures, against RVNL, Kec International and NBCC: L&T's operating margin of 8.7% is the highest of the four (RVNL 3.6%, Kec International 6.2%, NBCC 4.7%; peer average 4.8%); its return on equity of 15.5% is the second highest of the four (RVNL 9.0%, Kec International 10.5%, NBCC 26.2%; peer average 15.3%); its revenue growth over three years of 16.0% a year is the highest of the four (RVNL 0.2% a year, Kec International 10.8% a year, NBCC 13.8% a year; peer average 8.3% a year).
From Larsen & Toubro's own consolidated results, balance sheets and shareholding patterns filed with NSE, and NSE prices (the latest used here: the 29 October 2026 close). Ratios are calculated by Alphave from those filings as each answer describes.
Consolidated figures from the company's filings with NSE; prices are NSE closing prices.