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Larsen & Toubro (LT) had a P/E of 31.7× on 6 Nov 2026, above the industry P/E of 16.4×. Its ROCE of 15% is the second-lowest among the 7 largest Engineering & Construction peers, and sales and net profit grew 16% and 15% a year over 3 years. Its dividend yield is 0.9%, and debt is 1.05× equity. It is a large-cap company with a market cap of ₹5.7 lakh crore, the largest of 156 Engineering & Construction companies by market cap; the shares rose 3.2% over the past year.

As of 6 Nov 2026Prices are delayed about 15 minutes; fundamentals are from the quarter ended Sep 2026.How we calculate this

past year
Open
₹4,024.00
Day high
₹4,117.70
Day low
₹3,996.10
Prev. close
₹4,050.00
Volume
34 L

Health check

3 fair · 3 to check
  • ReturnsBehind

    +3.2% over a year, better than 2 of 7 peers.

  • Price tagPricier

    P/E 31.7 vs industry 16.4.

  • GrowthSteady

    Sales +16.1%, profit +15.4% a year over 3 years.

  • ProfitabilityAverage

    ROCE 14.6% vs peer median 19.9%.

  • Balance sheetFair

    Debt 1.05× equity, interest covered 10.1×, Piotroski 6 of 9.

  • Red flags1 to check

    P/E of 31.7 against an industry P/E of 16.4.

Compared with 7 industry peers. Computed from reported figures. Educational, not a recommendation.

Engineering & Construction

155 listed peers. Screen the industry

Large cap

₹5.7L Cr, the largest of 156 in its industry.

Defensive

Beta 0.49 vs the NIFTY 50: moves less than the market.

Key metrics

Last 12 months to Sep 2026: sales ₹3,08,589 Cr · profit ₹19,588 Cr
Market cap
₹5.7L Cr
Large cap
P/E
31.7
Industry 16.4
Price to book
5.01
Peers 4.92
Dividend yield
0.92%
ROE
17.9%
Peers 16.1%
ROCE
14.6%
Peers 19.9%
Debt to equity
1.05
Debt ₹1.4L Cr
EPS (TTM)
₹129.82
Face value ₹2
OPM (TTM)
9.6%
Net margin 5.8%
Sales growth
+16.9%
Latest quarter vs a year ago
Profit growth
+32.5%
Latest quarter vs a year ago
Price to sales
1.84
EV/EBITDA 17.6

Strengths and risks

Strengths

  • Quarterly profit up 32.5% on a year ago.
  • Quarterly sales up 16.9% on a year ago.
  • Positive operating cash flow in each of the last 4 years.

Risks to check

  • P/E of 31.7 against an industry P/E of 16.4.

Derived automatically from reported figures. Not a recommendation.

About Larsen & Toubro

Larsen & Toubro Limited engages in engineering, procurement, and construction projects (EPC) in India and internationally. The company operates through four segments: Infrastructure Projects, Energy Projects, Hi-Tech Manufacturing, and Others. The Infrastructure Projects segment is involved in the engineering and construction of building and factories, transportation infrastructure, heavy civil infrastructure, power transmission & distribution,…

Headquarters
Mumbai
Employees
55,662
Sector
Industrials
ISIN
INE018A01030
Website
larsentoubro.com

Price range

52 weeks

₹3,288.10₹4,440.00

Today

₹3,996.10₹4,117.70
Avg volume (3M)
17.6 L
1-year return
plus 3.2%
From 52-week high
minus 7.3%

Analyst consensus

28 analysts
BuyMean target ₹4,512.11 plus 9.6%

Target range, with today’s price

Low ₹3,450.00High ₹5,185.00

Next results expected around 28 Jan 2027

Consensus from Yahoo Finance. Not a recommendation.

Peers · Engineering & Construction

Capital-heavy industry columns

Compare with peersScreen the whole industry
Company
LTLarsen & Toubro4,117.70plus 1.67%5,66,54931.719.614.6%9.6%1.0516.1%plus 3.2%
RVNLRail Vikas Nigam193.34minus 0.18%40,31244.956.911.0%4.3%0.490.2%minus 40.5%
CEMPROCemindia Projects1,323.30plus 2.79%24,40536.424.237.1%10.4%0.3525.5%plus 49.2%
KPILKalpataru Projects International1,370.80minus 0.04%23,41019.710.119.9%8.3%0.4618.4%plus 4.3%
NBCCNBCC (India)78.00minus 2.90%21,06026.519.834.3%6.1%0.0012.9%minus 29.5%
ENGINERSINEngineers India292.70minus 1.94%16,45118.321.528.1%21.2%0.005.7%plus 51.1%
WABAGVA Tech Wabag1,988.20plus 6.57%12,43429.420.816.3%10.9%0.099.9%plus 33.2%
LOTUSDEVSri Lotus Developers and Realty233.82minus 0.16%11,42739.038.216.7%36.7%0.0666.4%plus 31.7%
Median of 7 peers–−0.16%21,06029.421.519.9%10.4%0.0912.9%31.7%

Quarterly results

Consolidated, ₹ crore
SalesSelect a row below to chart it
₹ CrJun 25Dec 25Mar 26Jun 26Sep 26
63,67971,45082,76267,94278,750
57,36164,03374,15261,82571,905
6,3187,4178,6106,1166,845
9.9%10.4%10.4%9.0%8.7%
1,3571,4411,5792,3772,306
782625679539473
1,0331,0721,1681,0321,037
––68.7––
5,8607,1618,4106,9227,641
26.2%27.8%24.9%28.0%22.6%
3,6173,2155,3264,1235,202
26.2923.3638.7029.9637.80

Sep 25 not reported by the data source.

Profit & loss

Yearly, ₹ crore
Sales CAGR 3Y
+16.1%
Profit CAGR 3Y
+15.4%
EPS CAGR 3Y
+16.2%
ROE
17.9%
Net profitSelect a row below to chart it
₹ CrMar 2023Mar 2024Mar 2025Mar 2026
1,81,6612,19,1162,54,2092,84,225
–+20.6%+16.0%+11.8%
1,58,7761,93,7102,23,6322,52,810
22,88625,40630,57631,415
12.6%11.6%12.0%11.1%
3,2763,4563,0724,919
3,1783,5373,3312,847
3,3843,6754,0984,345
−2,490−1,133−2,640−3,167
17,10920,51723,57925,976
26.2%24.1%25.0%26.2%
10,47113,05915,03716,084
–+24.7%+15.1%+7.0%
74.4593.88109.28116.88

Forecast

Your assumptions, not a prediction

Balance sheet

At each financial year end, ₹ crore
Total assetsSelect a row below to chart it
₹ CrMar 2023Mar 2024Mar 2025Mar 2026
281275275275
89,04586,08497,3811,09,015
1,20,6501,16,3221,32,4091,25,497
1,20,3761,37,4551,49,4602,17,763
3,30,3523,40,1363,79,5244,52,550
16,46118,56519,79922,599
2,9872,9772,8023,162
8,9699,9049,3528,787
53,53847,93260,43476,625
2,48,3982,60,7572,87,1373,41,377
3,30,3523,40,1363,79,5244,52,550

Cash flow

Yearly, ₹ crore
Cash from operationsSelect a row below to chart it
₹ CrMar 2023Mar 2024Mar 2025Mar 2026
22,77718,2669,15116,741
−8,3122,163−15,508−11,739
−11,572−25,4136,557−2,156
2,893−4,9842002,846
−4,144−4,517−4,419−4,809
18,63313,7504,73311,932
−3,091−4,217−3,850−4,676

Shareholding pattern

Source: NSE filings

NSE hasn’t returned a shareholding pattern for this company. Institutions hold about 50.0% (Yahoo estimate).

Major shareholders

NSE filing

Filings & events

News

No recent news coverage found.

My notes

Private to you