Larsen & Toubro enterprise value

Share price at each year-end

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	—	—	—	—
32,062	46,767	37,817	67,124	66,013
₹4,181.40	—	—	—	—

2,54,938	2,50,213	2,08,768	2,16,589	2,22,081
47.7%	48.6%	44.7%	52.7%	53.4%
0.21×	—	—	—	—

1.91×	—	—	—	—
19.84×	—	—	—	—
23.31×	—	—	—	—
48.21×	—	—	—	—
3,00,904	2,85,874	2,55,734	2,21,113	1,83,341
28,988	29,151	26,435	23,494	20,753
24,679	24,786	22,314	19,811	17,251
—	16,741	9,161	18,266	22,777
11,932	11,932	4,742	13,750	18,633
—	11,097	3,888	12,921	17,876
—	4,809	4,419	4,517	4,144

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From the company's filings with NSE and BSE (Ind-AS), consolidated. For information only, not investment advice.

alphave

LT₹3,801.30

Larsen & Toubro Ltd.

· Infrastructure

₹ CrorePeersRVNL KEC NBCC AFCONS IRCON CEMPRO ENGINERSIN IRBMcap ₹5.23L Cr

HighlightsEnterprise Value Multiples Per ShareAnnuals · FY-end closes

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
Net Debt (memo)	66,013.3	67,123.6	37,817.0	46,766.9	32,061.7
EV per Share	—	—	—	—	4,181.40

Total Capital	2,22,080.6	2,16,589.4	2,08,768.3	2,50,213.5	2,54,938.4
Total Debt/Total Capital	53.37	52.65	44.72	48.63	47.73
Total Debt/EV	—	—	—	—	0.21

EV/Sales	—	—	—	—	1.91
EV/EBITDA	—	—	—	—	19.84
EV/EBIT	—	—	—	—	23.31
EV/Free Cash Flow	—	—	—	—	48.21
Reference Items — Trailing FY Values
Sales	1,83,340.7	2,21,112.9	2,55,734.5	2,85,874.4	3,00,903.5
EBITDA	20,753.3	23,493.7	26,434.7	29,151.1	28,988.2
EBIT	17,251.0	19,811.3	22,313.6	24,786.4	24,679.3
Operating Cash Flow	22,777.0	18,266.3	9,160.7	16,741.0	—
Free Cash Flow	18,633.2	13,749.8	4,741.9	11,931.8	11,931.8
FCFF (free cash flow to the firm)	17,876.1	12,920.7	3,888.4	11,096.7	—
Capital Expenditure	4,143.8	4,516.5	4,418.8	4,809.2	—

Market Cap/EV/multiples pair each (split/bonus-adjusted) FY-end close with the latest filed share count; Current column uses the last close. Market Capitalization is a market-level figure — identical across Consolidated/Standalone (the accounting rows below differ). No consensus estimates → no Est columns. Click any row to chart it.

« ‹ › »Latest: FY26 · ConsolidatedFA Financial Analysis · alphave

Data & compliance. Descriptive financial information from official NSE/BSE filings — for information and education only, not investment advice, a recommendation, or a valuation. Standalone = parent entity; consolidated includes subsidiaries. Historical multiples pair each fiscal year's filed figures with that FY-end market close; the Current column uses the last close with the latest filed annuals. Figures are cross-verified via accounting identities and NSE×BSE agreement — XBRL cross-verified ✓ 193%.