Larsen & Toubro vs NCC: share price, P/E, ROE and financials compared
Larsen & Toubro
NCC
Larsen & Toubro and NCC at a glance
Larsen & Toubro and NCC are both listed in Construction. Larsen & Toubro is the larger by market cap, at ₹5.7L Cr against ₹7,712 Cr for NCC (73.5 times as large). On valuation, NCC has the lower P/E (10.6× against 31.7×) and the lower price-to-book (0.98× against 5.01×). On returns and margins, Larsen & Toubro has the higher ROE (17.9% against 8.9%) and the higher operating margin (9.6% against 9.0%), while NCC has the higher ROCE (15.3% against 14.6%). Over three years, Larsen & Toubro has faster 3-year sales growth (+16.1% against +10.5% a year) and faster 3-year profit growth (+15.4% against +3.5% a year). NCC carries less debt for its equity, with a debt-to-equity of 0.57× against 1.05×.
Key metrics, side by side
| Metric | Larsen & ToubroLT | NCCNCC |
|---|---|---|
| Price (₹) | 4,117.70 | 122.84 |
| Market cap (₹ Cr) | 5,66,549 | 7,712 |
| P/E | 31.7× | 10.6× (the lower figure, shaded) |
| P/B | 5.01× | 0.98× (the lower figure, shaded) |
| Dividend yield, trailing | 0.92% | 1.79% (the higher figure, shaded) |
| ROE | 17.9% (the higher figure, shaded) | 8.9% |
| ROCE | 14.6% | 15.3% (the higher figure, shaded) |
| Operating margin (OPM) | 9.6% (the higher figure, shaded) | 9.0% |
| Net margin (NPM) | 5.8% (the higher figure, shaded) | 3.3% |
| Sales CAGR 3Y | +16.1% (the higher figure, shaded) | +10.5% |
| Profit CAGR 3Y | +15.4% (the higher figure, shaded) | +3.5% |
| Debt to equity | 1.05× | 0.57× (the lower figure, shaded) |
| Interest cover | 10.1× (the higher figure, shaded) | 2.8× |
| Net profit TTM (₹ Cr) | 17,866 | – |
| 1Y return | +3.2% (the higher figure, shaded) | −40.5% |
| Promoter holding | 0.00% | 23.19% |
Larsen & Toubro vs NCC: common questions
Which is bigger, Larsen & Toubro or NCC?
By market cap, Larsen & Toubro is bigger at ₹5.7L Cr, against ₹7,712 Cr for NCC (prices as of 6 Nov 2026).
Which has a lower P/E ratio, Larsen & Toubro or NCC?
Larsen & Toubro trades at a P/E of 31.7× and NCC at 10.6×. NCC has the lower P/E. P/E is the share price divided by earnings per share; it varies a lot between industries and with growth, so it says little on its own.
Which has a higher ROE, Larsen & Toubro or NCC?
Larsen & Toubro reports a return on equity of 17.9% and NCC 8.9%. Larsen & Toubro has the higher ROE. ROE is net profit as a share of shareholders’ equity.
Which is growing faster, Larsen & Toubro or NCC?
Over the last three years: Sales grew +16.1% a year at Larsen & Toubro and +10.5% at NCC, so Larsen & Toubro grew sales faster; profit grew +15.4% a year at Larsen & Toubro and +3.5% at NCC, so Larsen & Toubro grew profit faster. Past growth doesn’t predict future growth.