LT · NSE
Larsen & Toubro Limited
₹3,885
+1.27% (+₹48.8)
Prev. close
₹3,836.2
Volume
15,47,690
Delivery %
72.8%
As of
18 Sept 2026
Price history
Vinay Rajani · HDFC Securities · 13 Jan 2026
“Vinay Rajani of HDFC Securities recommends a short position on Larsen & Toubro (L&T January futures), citing a fresh technical breakdown and overall weakness in capital goods and infrastructure stocks. He suggests shorting around ₹3,925, with a stop loss at ₹3,975, targeting a downside of ₹3,850.”
Entry ≈ ₹3,887.4 (first trade after call)Stop ₹3,975 (+2.3%)
Published mid-session at 15:15 IST. Tracking counts only prices printed after publication — the chart's dashed divider marks that moment; earlier prices never count toward entry or results.
Analyst sentiment
Analysts lean bullish
13 analyst stances · last 90 days · one per analyst
Trackable
8 · 8 bull / 0 neutral / 0 bear
Long-Horizon
none in window
Commentary
5 · 5 bull / 0 neutral / 0 bear
Trackable = verdict-bearing calls · Long-Horizon = 1yr+ horizon, verdict pending · Commentary = context, not graded
Analyst opinions
| Call | Analyst | Instrument | Verdict | Actions |
|---|---|---|---|---|
| “Overweight rating on Larsen & Toubro, an industrial major that has posted an 11% gain over the last 12 months, outperfor…” | Morgan Stanley AnalysisMorgan Stanley India | Larsen & Toubro | PENDING | |
| “Bullish on L&T Finance; recommends buying at Rs 317 with a target of Rs 356 and a stop loss at Rs 306. A Bullish Pennant…” | Sacchitanand UttekarTradebulls Securities | L&T | PENDING | |
| “Bullish on Larsen & Toubro (L&T) Futures for the near-term, recommending a buy in the ₹4,050-4,070 range with targets of…” | Jay ThakkarICICI Securities | L&T | NOT GRADED | |
| “Initiated an 'outperform' rating on L&T Finance with a price target of ₹400 per share, indicating a 23% upside. The brok…” | Macquarie AnalysisMacquarie Capital Securities | L&T | PENDING | |
| “Bullish on L&T Finance for intraday trading; recommends buying at ₹325 with a target of ₹340 and a stop loss at ₹318.” | Vaishali ParekhPrabhudas Lilladher | L&T | MISS | |
| “Bullish on L&T Finance Futures for the near-term, recommending a buy in the 320-324 range with a stop loss below 309 and…” | Jay ThakkarICICI Securities | L&T | NOT GRADED | |
| “Recommends buying LTM in cash at ₹4,091, setting a stop loss at ₹3,900, with targets of ₹4,276 and ₹4,400. The stock sho…” | Sumeet BagadiaChoice Equity Broking | LTM | PENDING | |
| “Maintained an 'add' rating on L&T Finance with a target price of ₹305. The company reported stronger-than-expected non-i…” | JM Financial AnalysisJM Financial Institutional Securities | L&T | NOT GRADED | |
| “Bullish on L&T, targeting ₹4,500 with a stop loss at ₹4,050. Geopolitical conditions stabilising, and the stock has buil…” | Dharmesh ShahICICI Securities | L&T | NOT GRADED |
Market commentary · 5 · levels, conditionals, previews, macro & hedged views — context, not graded
| Call | Analyst | Instrument | Verdict | Actions |
|---|---|---|---|---|
| “Bullish on Larsen & Toubro (L&T), identifying it as a key industrial pick. Support for the stock comes from limited down…” | Private Bank Trader AnalysisPrivate Bank Trader | Larsen & Toubro | PENDING | |
| “Analysts are bullish on Larsen & Toubro (L&T), projecting a 13-16% upside from Friday's closing price of ₹3,915. This op…” | ET Intelligence Group AnalysisET Intelligence Group | L&T | PENDING | |
| “Bullish on L&T Finance, which is well-positioned for steady improvement in growth and profitability, driven by its trans…” | Siddhartha KhemkaMotilal Oswal Financial Services Ltd. | L&T | PENDING | |
| “Bullish on L&T Finance with a target price of ₹380, suggesting a 20% upside potential from its previous close of ₹315.85…” | Mirae Asset Sharekhan AnalysisMirae Asset Sharekhan | L&T | PENDING | |
| “Bullish on L&T Finance, with a target price of ₹370, implying an 18% upside. The brokerage noted retail loan growth of a…” | Motilal Oswal AnalysisMotilal Oswal Financial Services | L&T | NOT GRADED |
Fundamentals
About Larsen & Toubro Limited
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, renewables, water and effluent treatment, and minerals and metals. The Energy Projects segment provides EPC solutions in clean energy space, oil & gas, refineries, petrochemicals & offshore wind energy sectors, from front-end design through detailed engineering, modular fabrication, procurement, project management, construction, installation and commissioning; CarbonLite solutions for power generation plants including power generation equipment with associated systems; and carbon capture utilization and utility packages. The Hi-Tech Manufacturing segment designs, manufactures/constructs, supplies, and revamps/retrofits custom designed engineered critical equipment and systems for the process plants, nuclear energy, and green hydrogen sectors; marine and land platforms, related equipment and systems, and aerospace products and systems; precision and electronics products and systems; and electrolysers. The other segment engages in realty; smart infrastructure and communication projects; construction equipment; and industrial product design development, including marketing and servicing of construction equipment, mining machinery and parts thereof, manufacture and sale of rubber processing machinery, and ecommerce/digital platforms and data centers. It has a strategic partnership with General Atomics Aeronautical Systems, Inc. to manufacture Medium Altitude Long Endurance (MALE) Remotely Piloted Aircraft Systems (RPAS) in India, for the Indian armed forces. The company was founded in 1938 and is headquartered in Mumbai, India.
Details
Sector
Industrials
Industry
Engineering & Construction
CEO
Mr. Sekharipuram Narayanan Subrahmanyan
Headquarters
Mumbai
Employees
55,662
Website
larsentoubro.comExchange
View on NSE ↗Key stats
Market cap
₹5.35 L Cr
P/E ratio (TTM)
32.3
Dividend yield
0.99%
EPS (TTM)
₹120.46
Beta (1Y · daily vs NIFTY 50)
1.42
Beta (5Y · monthly vs NIFTY 50)
1.22
Shares float
114.33 Cr
EPS · quarter ended Jun 2026
₹29.96
Upcoming earnings
28 Oct 2026
Financial Performance
01 · Financials
FY21 growth needs FY20 filings, which the data source doesn't provide.
02 · Earnings Per Share (EPS)
03 · Dividend Profile
Growth compares completed fiscal-year dividend totals on the company's own calendar: April–March (Indian FY), taken from its reported period-ends. Payout ledger: NSE corporate actions.
04 · Operating Efficiency (Growth Rates)
Balance-sheet-based · pre-FY23 not filed in verifiable form
05 · Capital Structure & Asset Utilization
Pre-FY23 not filed in verifiable form
Asset turnover needs a prior year of assets — omitted for the earliest available year.
06 · Asset Base Composition
Pre-FY23 not filed in verifiable form
07 · Debt Level & Coverage
Pre-FY23 not filed in verifiable form
08 · Profit & Loss
Annual
| Line item | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|
| ₹1.36 L Cr | ₹1.57 L Cr | ₹1.83 L Cr | ₹2.21 L Cr | ₹2.54 L Cr | ₹2.86 L Cr | |
| EBITDA | ₹15,359.67 Cr | ₹20,604.08 Cr | ₹23,670.91 Cr | ₹27,745.29 Cr | ₹31,007.85 Cr | ₹33,189.38 Cr |
| ₹11,582.93 Cr | ₹8,669.33 Cr | ₹10,470.72 Cr | ₹13,059.11 Cr | ₹15,037.11 Cr | ₹16,083.99 Cr | |
| Diluted EPS | ₹82.41 | ₹61.65 | ₹74.45 | ₹93.88 | ₹109.28 | ₹116.88 |
Total expenses (as filed), Employee benefit expense, Other expenses, Other income have filed figures for only some of the years shown — no further verified source covers the rest, so those years are left blank rather than estimated.
09 · Balance Sheet
Annual
| Line item | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|
| ₹3.11 L Cr | ₹3.20 L Cr | ₹3.30 L Cr | ₹3.40 L Cr | ₹3.79 L Cr | ₹4.52 L Cr | |
| ₹1.12 L Cr | ₹94,135.12 Cr | ₹94,251.06 Cr | ₹1.16 L Cr | ₹1.32 L Cr | ₹1.25 L Cr | |
| Stockholders' equity | ₹75,868.53 Cr | ₹82,407.66 Cr | ₹89,325.95 Cr | ₹86,359.00 Cr | ₹97,656.00 Cr | ₹1.09 L Cr |
CWIP, Others have filed figures for only some of the years shown — no further verified source covers the rest, so those years are left blank rather than estimated.
Annual only — the data source doesn’t publish quarterly balance-sheet detail for most NSE-listed companies.
10 · Cash Flow Statement
Annual
| Line item | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|
| ₹22,844.14 Cr | ₹19,163.58 Cr | ₹22,777.00 Cr | ₹18,266.00 Cr | ₹9,151.00 Cr | ₹16,741.00 Cr | |
| Investing cash flow | ₹-5,430.70 Cr | ₹-3,667.68 Cr | ₹-8,311.70 Cr | ₹2,163.04 Cr | ₹-15,508.15 Cr | ₹-11,738.84 Cr |
| ₹-15,274.38 Cr | ₹-15,181.48 Cr | ₹-11,572.00 Cr | ₹-25,413.00 Cr | ₹6,557.00 Cr | ₹-2,156.00 Cr | |
| Capital expenditure | ₹-1,807.70 Cr | ₹-3,110.63 Cr | ₹-4,144.00 Cr | ₹-4,517.00 Cr | ₹-4,419.00 Cr | ₹-4,809.00 Cr |
| End cash position | ₹13,373.52 Cr | ₹13,770.24 Cr | ₹16,926.69 Cr | ₹11,958.50 Cr | ₹12,187.00 Cr | ₹15,391.24 Cr |
Annual only — the data source has no quarterly cash-flow-statement coverage.
11 · Shareholding Pattern
NSE, quarterly
| Line item | Sep 21–Jun 26(21Q) |
|---|---|
| Promoter | 0.00% |
| Public | 100.00% |
| Employee trusts | 0.00% |
Source: NSE quarterly shareholding-pattern filings, collapsed to periods where the reported percentages held steady — a column spanning several quarters means no change was filed across them. No FII/DII sub-split available from this source — Public includes all non-promoter, non-employee-trust holders.
12 · Peer Comparison
Industrials
| Company | ||||||||
|---|---|---|---|---|---|---|---|---|
| Larsen & Toubro Limited | ₹5.24 L Cr | ₹3,836.2 | 31.6 | 4.79 | 14.7% | 1.15 | +11.8% | +4.1% |
| Adani Ports and Special Economic Zone Limited | ₹4.00 L Cr | ₹1,824 | 29.4 | 4.17 | 13.3% | 0.66 | +27.1% | +29.1% |
| Hindustan Aeronautics Limited | ₹3.20 L Cr | ₹4,800.3 | 34.3 | 7.80 | 22.2% | 0.00 | +5.6% | -1.2% |
| Bharat Electronics Limited | ₹2.82 L Cr | ₹395.45 | 46.0 | 11.75 | 25.3% | 0.00 | +15.9% | -4.1% |
| InterGlobe Aviation Limited | ₹1.87 L Cr | ₹4,920 | — | 26.87 | -34.3% | 11.15 | +6.6% | -13.9% |
| ABB India Limited | ₹1.51 L Cr | ₹7,270.5 | 95.5 | 19.28 | 21.3% | 0.01 | +8.1% | +33.7% |
| Bharat Heavy Electricals Limited | ₹1.43 L Cr | ₹429.2 | 58.8 | 5.47 | 6.1% | 0.31 | +18.3% | +83.2% |
| Hitachi Energy India Limited | ₹1.39 L Cr | ₹32,700 | 121.7 | 26.89 | 19.1% | 0.02 | +27.2% | +68.7% |
| Cummins India Limited | ₹1.39 L Cr | ₹5,099.5 | 57.8 | 16.42 | 27.9% | 0.00 | +16.9% | +24.3% |
| CG Power and Industrial Solutions Limited | ₹1.39 L Cr | ₹892 | 107.6 | 17.39 | 15.1% | 0.01 | +25.1% | +13.7% |
| Siemens Limited | ₹1.33 L Cr | ₹3,763.5 | 78.8 | 10.07 | 15.9% | 0.01 | +16.2% | +13.3% |
| Polycab India Limited | ₹1.24 L Cr | ₹8,241 | 43.5 | 10.34 | 22.3% | 0.37 | +28.3% | +13.7% |
Ranked by market cap within Industrials, same metrics as the Fundamentals screener. Click a column to sort.
Documents
Annual reports
Show all 30
Concall transcripts
Official documents linked from their sources — offer documents as filed with SEBI (sebi.gov.in), annual reports and earnings-call transcripts as published on BSE (bseindia.com) and NSE (nseindia.com). Links open the source's own hosting; nothing is re-hosted here.
Index membership
58 indices
NSE weights are a free-float market-cap-share estimate, not NSE’s own published (and sometimes capped) index weight. BSE weights are BSE’s own published index weight, not an estimate. Indices without weight data are listed without one, in alphabetical order after the weighted ones.
L&T eyes up to 30% of modularisation market in 5 years
Larsen & Toubro aims to capture 20-30% of the $150 billion global modularization market within the next five years. This strategy follows the successful delivery of modules for Australia's Project Ceres urea plant. The company sees modularization as a key solution for large, complex energy projects and a way to address labor shortages.
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