# LT (LT) — Stock analysis

> Faxioms all-in-one stock review. Canonical page: https://faxioms.com/stocks/lt

## Current market snapshot

- Exchange: BSE
- Country: India
- Price: ₹3,675
- Change: +1.31%
- As of: 2026-10-13
- 1D return: +1.31%
- 5D return: -2.52%
- 1M return: -6.51%
- Latest complete quarter: fy27_q1

## Faxioms Analysis

_As of 2026-10-13_

### Technical Outlook

As of October 13, 2026, the stock is exhibiting a mixed technical picture across timeframes. Daily and weekly charts show price below key moving averages and the Supertrend, indicating short-to-medium term weakness, while the monthly chart shows price above the Supertrend, suggesting a potential longer-term bullish undertone. Daily trend conviction is established with an ADX of 30.81, but weekly and monthly trends are weak with ADX readings of 14.53 and 15.21 respectively. The stock is positioned near the lower end of its recent trading ranges, with the 20-day, 50-day, and 252-day range positions at +22.4%, +15.4%, and +33.6% respectively. Recent anomalies include a wide intraday range on October 12, 2026, with a -2.0% return, and a moderate upward volume anomaly on October 13, 2026, with a +1.3% return.

Risk is characterized by an annualized volatility of +24.8% and a current drawdown of -16.8%. The nearest resistance is observed at ₹3706.93 (0.87% above current price), with support identified at ₹3658.97 (0.44% below current price). The setup would be invalidated if the price decisively breaks below the support level of ₹3658.97, while confirmation of a potential shift would occur if the price moves above the nearest resistance level of ₹3706.93 with increased participation.

- Mixed daily and weekly bearish signals against a monthly bullish Supertrend.
- Daily trend is established (ADX 30.81) while weekly and monthly trends are weak.
- Stock is positioned near the lower end of its 20-day, 50-day, and 252-day ranges.
- Nearest resistance is at ₹3706.93 (+0.87%) and support is at ₹3658.97 (-0.44%).
- Invalidation below ₹3658.97 support; confirmation above ₹3706.93 resistance.

- Harami
- Bearish Engulfing Reversal
- Outside Bar
- Doji

### News Context

Larsen & Toubro (LT) shares have experienced a decline of 10.6% year-to-date in 2026. However, this contrasts with a five-year return of 114%. Motilal Oswal has indicated a potential for nearly 19% further upside in the stock. This outlook is attributed to factors such as order growth, the company's domestic project execution capabilities, and emerging opportunities in international markets.

- Larsen & Toubro shares have fallen 10.6% in 2026 as of the report date.
- The stock delivered 114% returns over the preceding five years.
- Motilal Oswal projects a potential 19% upside for Larsen & Toubro shares.
- Motilal Oswal's view is based on order growth, domestic project execution, and international market opportunities.

- [Larsen & Toubro shares: 114% return in 5 yrs, Motilal Oswal sees 19% more upside stock | Target price](https://www.livemint.com/market/stock-market-news/larsen-toubro-shares-114-return-in-5-yrs-motilal-oswal-sees-19-more-upside-stock-target-price-11791645969173.html)

### What Changed

Larsen & Toubro Limited (LT) on the BSE has reported a dematerialisation confirmation for the quarter ended September 30, 2026, on October 12, 2026. The registrar confirmed that securities received for dematerialisation were processed according to SEBI regulations. This filing provides an update on the company's compliance with depository requirements. The stock's closing price on October 13, 2026, was ₹3675.0, an increase from the previous day's close of ₹3627.5.

- On October 12, 2026, Larsen & Toubro Limited filed a dematerialisation confirmation for the quarter ending September 30, 2026.
- The company's stock closed at ₹3675.0 on October 13, 2026.
- The stock price increased from ₹3627.5 on the previous trading day to ₹3675.0 on October 13, 2026.

- [Larsen & Toubro Limited has informed the Exchange about Certificate under SEBI (Depositories and Participants) Regulations, 2018 |SUBJECT: Certificate under SEBI (Depositories and Participants) Regulations, 2018](https://nsearchives.nseindia.com/corporate/PAM_12102026183004_Intimation745Sep2026.pdf)

### Official Filings

Larsen & Toubro Limited (L&T) has disclosed several significant developments in early October 2026. A key event is the "Major" order received by L&T Energy CarbonLite Solutions from DVC CIL Power Private Ltd for the Chandrapura thermal power plant. This order, valued between ₹5,000 crore and ₹10,000 crore, involves the design, engineering, manufacturing, supply, erection, testing, and commissioning of critical components including boilers and turbines. The company also reported "Large" and "Significant" orders from Dubai's Roads and Transport Authority for road development projects, valued between ₹2,500–5,000 crore and ₹1,000–2,500 crore respectively. These contract wins indicate ongoing business momentum in the infrastructure and energy sectors.

Furthermore, L&T has announced promotions for four senior executives to the role of Senior Vice President, effective July 1, 2026, with specific leadership responsibilities assigned to Corporate Human Resources, CarbonLite Solutions, Transportation Infrastructure, and Residential, Commercial Buildings & Factories verticals. These changes in senior management personnel are effective from July 1, 2026, and were formally disclosed on October 7, 2026. The company also provided its routine disclosure on debt securities, detailing outstanding Non-Convertible Debentures (NCDs) totaling ₹10,300 crore as of September 30, 2026, with maturities ranging from 2028 to 2035.

- On October 7, 2026, L&T announced a "Major" order for the Chandrapura thermal power plant, valued between ₹5,000 crore and ₹10,000 crore.
- On September 30, 2026, L&T reported "Large" and "Significant" orders from Dubai's Roads and Transport Authority, valued between ₹2,500–5,000 crore and ₹1,000–2,500 crore respectively.
- On October 7, 2026, the company disclosed promotions of four executives to Senior Vice President roles, effective July 1, 2026.
- As of September 30, 2026, L&T reported outstanding debt securities (NCDs) totaling ₹10,300 crore.

- [Larsen & Toubro Limited has informed the Exchange about Certificate under SEBI (Depositories and Participants) Regulations, 2018 |SUBJECT: Certificate under SEBI (Depositories and Participants) Regulations, 2018](https://nsearchives.nseindia.com/corporate/PAM_12102026183004_Intimation745Sep2026.pdf)
- [Larsen & Toubro Limited has informed the Exchange about Change in Directors/KMP/SMP/Auditor/RTA |SUBJECT: Change in Directors/KMP/SMP/Auditor/RTA](https://nsearchives.nseindia.com/corporate/xbrl/CIM_2203_WebXMLFile_20261008_181947155.xml)
- [Larsen & Toubro Limited has informed the Exchange about Bagging/Receiving of orders/contracts |SUBJECT: Bagging/Receiving of orders/contracts](https://nsearchives.nseindia.com/corporate/PAM_07102026101304_PressRelease07102026.pdf)
- [Chapter VIII - Specifications related to ISIN for debt |SUBJECT: Chapter VIII - Specifications related to ISIN for debt](https://nsearchives.nseindia.com/content/debt/WDM/PAM_07102026120755_ISINIntimationSep2026.pdf)
- [LARSEN & TOUBRO LIMITED has informed the Exchange about Bagging/Receiving of orders/contracts (Sub-para 4-Para B) |SUBJECT: Bagging/Receiving of orders/contracts (Sub-para 4-Para B)](https://nsearchives.nseindia.com/corporate/xbrl/REG30_PARA_B_2203_WebXMLFile_20261007_150511946.xml)
- [Larsen & Toubro Limited has informed the Exchange about change in Management |SUBJECT: Change in Management](https://nsearchives.nseindia.com/corporate/PAM_07102026212904_IntimationSRMGT07102026.pdf)
- [Larsen & Toubro Limited has informed the Exchange about Bagging/Receiving of orders/contracts |SUBJECT: Bagging/Receiving of orders/contracts](https://nsearchives.nseindia.com/corporate/PAM_05102026093512_PressRelease05102026.pdf)
- [LARSEN & TOUBRO LIMITED has informed the Exchange about Bagging/Receiving of orders/contracts (Sub-para 4-Para B) |SUBJECT: Bagging/Receiving of orders/contracts (Sub-para 4-Para B)](https://nsearchives.nseindia.com/corporate/xbrl/REG30_PARA_B_2203_WebXMLFile_20261005_193000820.xml)
- [Larsen & Toubro Limited has informed the Exchange about Bagging/Receiving of orders/contracts |SUBJECT: Bagging/Receiving of orders/contracts](https://nsearchives.nseindia.com/corporate/PAM_30092026121641_PressRelease30092026.pdf)
- [Larsen & Toubro Limited has informed the Exchange about General Updates |SUBJECT: General Updates](https://nsearchives.nseindia.com/corporate/PAM_30092026152845_IntimationLTMRHL30092026.pdf)

### Fundamentals

Larsen & Toubro (LT) reported a sequential decrease in its operating performance for Q1 FY2026-27 compared to Q4 FY2025-26. Revenue from operations declined to ₹67,941.74 crore from ₹82,762.16 crore in the prior quarter. This top-line reduction was accompanied by a fall in profitability, with Net Profit decreasing to ₹4,988.03 crore from ₹6,133.06 crore sequentially. Profit Before Tax also saw a similar sequential decline, from ₹8,410.28 crore to ₹6,922.26 crore. The observed sequential trends indicate pressure on both revenue generation and profit conversion during the latest reported quarter.

- Revenue from operations sequentially decreased to ₹67,941.74 crore in Q1 FY2026-27.
- Net Profit sequentially declined to ₹4,988.03 crore in Q1 FY2026-27.
- Profit Before Tax sequentially decreased to ₹6,922.26 crore in Q1 FY2026-27.
- The next checkpoint is to monitor the sustainability of revenue and profit margins in the upcoming reporting period.

### Bull Case

Larsen & Toubro shares have delivered a 114% return over the past five years. Despite a 10.6% decline in the current year to date (2026), one research firm, Motilal Oswal, has indicated a potential upside of nearly 19%. This outlook is supported by factors such as order growth, domestic project execution, and opportunities in international markets. The company's monthly technical trend is currently showing a bullish direction, as indicated by its ADX (Average Directional Index) of 15.21 and a positive Supertrend direction.

- Five-year returns stand at +114%.
- Motilal Oswal sees potential for +19% upside.
- Monthly technical trend is currently bullish.
- Key drivers cited include order growth and international market opportunities.

- [Larsen & Toubro shares: 114% return in 5 yrs, Motilal Oswal sees 19% more upside stock | Target price](https://www.livemint.com/market/stock-market-news/larsen-toubro-shares-114-return-in-5-yrs-motilal-oswal-sees-19-more-upside-stock-target-price-11791645969173.html)
- [Larsen & Toubro Limited has informed the Exchange about Certificate under SEBI (Depositories and Participants) Regulations, 2018 |SUBJECT: Certificate under SEBI (Depositories and Participants) Regulations, 2018](https://nsearchives.nseindia.com/corporate/PAM_12102026183004_Intimation745Sep2026.pdf)
- [Larsen & Toubro Limited has informed the Exchange about Change in Directors/KMP/SMP/Auditor/RTA |SUBJECT: Change in Directors/KMP/SMP/Auditor/RTA](https://nsearchives.nseindia.com/corporate/xbrl/CIM_2203_WebXMLFile_20261008_181947155.xml)
- [Larsen & Toubro Limited has informed the Exchange about Bagging/Receiving of orders/contracts |SUBJECT: Bagging/Receiving of orders/contracts](https://nsearchives.nseindia.com/corporate/PAM_07102026101304_PressRelease07102026.pdf)
- [Chapter VIII - Specifications related to ISIN for debt |SUBJECT: Chapter VIII - Specifications related to ISIN for debt](https://nsearchives.nseindia.com/content/debt/WDM/PAM_07102026120755_ISINIntimationSep2026.pdf)
- [LARSEN & TOUBRO LIMITED has informed the Exchange about Bagging/Receiving of orders/contracts (Sub-para 4-Para B) |SUBJECT: Bagging/Receiving of orders/contracts (Sub-para 4-Para B)](https://nsearchives.nseindia.com/corporate/xbrl/REG30_PARA_B_2203_WebXMLFile_20261007_150511946.xml)
- [Larsen & Toubro Limited has informed the Exchange about change in Management |SUBJECT: Change in Management](https://nsearchives.nseindia.com/corporate/PAM_07102026212904_IntimationSRMGT07102026.pdf)
- [Larsen & Toubro Limited has informed the Exchange about Bagging/Receiving of orders/contracts |SUBJECT: Bagging/Receiving of orders/contracts](https://nsearchives.nseindia.com/corporate/PAM_05102026093512_PressRelease05102026.pdf)
- [LARSEN & TOUBRO LIMITED has informed the Exchange about Bagging/Receiving of orders/contracts (Sub-para 4-Para B) |SUBJECT: Bagging/Receiving of orders/contracts (Sub-para 4-Para B)](https://nsearchives.nseindia.com/corporate/xbrl/REG30_PARA_B_2203_WebXMLFile_20261005_193000820.xml)
- [Larsen & Toubro Limited has informed the Exchange about Bagging/Receiving of orders/contracts |SUBJECT: Bagging/Receiving of orders/contracts](https://nsearchives.nseindia.com/corporate/PAM_30092026121641_PressRelease30092026.pdf)

### Bear Case

Larsen & Toubro's shares have experienced a notable decline in 2026, falling 10.6% year-to-date as of October 13, 2026. This downturn contrasts with a five-year return of 114%. Technical indicators suggest a bearish daily trend, with the Supertrend direction identified as bearish and negative slopes on the 20-day and 50-day Simple Moving Averages (SMA). The stock is currently trading below its nearest support level of ₹3658.97. The company's risk profile includes an annualized volatility of 24.8% and a current drawdown of -16.8%, with a maximum drawdown observed at -24.3%.

- Shares have declined 10.6% year-to-date in 2026.
- Daily technical trend is currently bearish, with negative SMA slopes.
- The stock is trading below its nearest support level of ₹3658.97.
- Annualized volatility stands at 24.8%, with a current drawdown of -16.8%.

- [Larsen & Toubro shares: 114% return in 5 yrs, Motilal Oswal sees 19% more upside stock | Target price](https://www.livemint.com/market/stock-market-news/larsen-toubro-shares-114-return-in-5-yrs-motilal-oswal-sees-19-more-upside-stock-target-price-11791645969173.html)
- [Larsen & Toubro Limited has informed the Exchange about Certificate under SEBI (Depositories and Participants) Regulations, 2018 |SUBJECT: Certificate under SEBI (Depositories and Participants) Regulations, 2018](https://nsearchives.nseindia.com/corporate/PAM_12102026183004_Intimation745Sep2026.pdf)
- [Larsen & Toubro Limited has informed the Exchange about Change in Directors/KMP/SMP/Auditor/RTA |SUBJECT: Change in Directors/KMP/SMP/Auditor/RTA](https://nsearchives.nseindia.com/corporate/xbrl/CIM_2203_WebXMLFile_20261008_181947155.xml)
- [Larsen & Toubro Limited has informed the Exchange about Bagging/Receiving of orders/contracts |SUBJECT: Bagging/Receiving of orders/contracts](https://nsearchives.nseindia.com/corporate/PAM_07102026101304_PressRelease07102026.pdf)
- [Chapter VIII - Specifications related to ISIN for debt |SUBJECT: Chapter VIII - Specifications related to ISIN for debt](https://nsearchives.nseindia.com/content/debt/WDM/PAM_07102026120755_ISINIntimationSep2026.pdf)
- [LARSEN & TOUBRO LIMITED has informed the Exchange about Bagging/Receiving of orders/contracts (Sub-para 4-Para B) |SUBJECT: Bagging/Receiving of orders/contracts (Sub-para 4-Para B)](https://nsearchives.nseindia.com/corporate/xbrl/REG30_PARA_B_2203_WebXMLFile_20261007_150511946.xml)
- [Larsen & Toubro Limited has informed the Exchange about change in Management |SUBJECT: Change in Management](https://nsearchives.nseindia.com/corporate/PAM_07102026212904_IntimationSRMGT07102026.pdf)
- [Larsen & Toubro Limited has informed the Exchange about Bagging/Receiving of orders/contracts |SUBJECT: Bagging/Receiving of orders/contracts](https://nsearchives.nseindia.com/corporate/PAM_05102026093512_PressRelease05102026.pdf)
- [LARSEN & TOUBRO LIMITED has informed the Exchange about Bagging/Receiving of orders/contracts (Sub-para 4-Para B) |SUBJECT: Bagging/Receiving of orders/contracts (Sub-para 4-Para B)](https://nsearchives.nseindia.com/corporate/xbrl/REG30_PARA_B_2203_WebXMLFile_20261005_193000820.xml)
- [Larsen & Toubro Limited has informed the Exchange about Bagging/Receiving of orders/contracts |SUBJECT: Bagging/Receiving of orders/contracts](https://nsearchives.nseindia.com/corporate/PAM_30092026121641_PressRelease30092026.pdf)

### FAQs

**What recent order wins has Larsen & Toubro secured?**

L&T Energy CarbonLite Solutions received a Limited Notice to Proceed (LNTP) from DVC CIL Power Private Ltd for the main plant package of the 2x1,600 MW Chandrapura thermal power plant. This order is classified as 'Major' and is valued between ₹5,000 crore and ₹10,000 crore. L&T's scope includes design, engineering, manufacturing, supply, erection, testing, and commissioning of boilers, steam turbines, generators, and electrostatic precipitators.

**What is the recent stock performance and analyst outlook for Larsen & Toubro?**

Larsen & Toubro shares have delivered 114% returns over the past five years. However, they have fallen 10.6% in 2026 so far. Motilal Oswal has indicated a potential for nearly 19% upside, citing order growth, domestic project execution, and international market opportunities.

**What are the key technical indicators for Larsen & Toubro as of October 13, 2026?**

On a daily basis, the technical trend is indicated as 'bearish' with an ADX of 30.81. However, the monthly trend is 'bullish' with an ADX of 15.21, and the weekly trend is also 'bullish' with an ADX of 14.53. The stock's closing price on October 13, 2026, was ₹3675.0, with nearest support levels at ₹3658.97 and resistance levels at ₹3706.93.

**What is Larsen & Toubro's debt profile as of September 30, 2026?**

Larsen & Toubro disclosed details for six series of Non-Convertible Debentures (NCDs) with a total outstanding amount of ₹10,300 crore. These issuances occurred between 2020 and 2026, with maturity dates ranging from 2028 to 2035. The coupon rates for these NCDs vary between 6.35% and 8.00%.

- [Larsen & Toubro shares: 114% return in 5 yrs, Motilal Oswal sees 19% more upside stock | Target price](https://www.livemint.com/market/stock-market-news/larsen-toubro-shares-114-return-in-5-yrs-motilal-oswal-sees-19-more-upside-stock-target-price-11791645969173.html)
- [Larsen & Toubro Limited has informed the Exchange about Certificate under SEBI (Depositories and Participants) Regulations, 2018 |SUBJECT: Certificate under SEBI (Depositories and Participants) Regulations, 2018](https://nsearchives.nseindia.com/corporate/PAM_12102026183004_Intimation745Sep2026.pdf)
- [Larsen & Toubro Limited has informed the Exchange about Change in Directors/KMP/SMP/Auditor/RTA |SUBJECT: Change in Directors/KMP/SMP/Auditor/RTA](https://nsearchives.nseindia.com/corporate/xbrl/CIM_2203_WebXMLFile_20261008_181947155.xml)
- [Larsen & Toubro Limited has informed the Exchange about Bagging/Receiving of orders/contracts |SUBJECT: Bagging/Receiving of orders/contracts](https://nsearchives.nseindia.com/corporate/PAM_07102026101304_PressRelease07102026.pdf)
- [Chapter VIII - Specifications related to ISIN for debt |SUBJECT: Chapter VIII - Specifications related to ISIN for debt](https://nsearchives.nseindia.com/content/debt/WDM/PAM_07102026120755_ISINIntimationSep2026.pdf)
- [LARSEN & TOUBRO LIMITED has informed the Exchange about Bagging/Receiving of orders/contracts (Sub-para 4-Para B) |SUBJECT: Bagging/Receiving of orders/contracts (Sub-para 4-Para B)](https://nsearchives.nseindia.com/corporate/xbrl/REG30_PARA_B_2203_WebXMLFile_20261007_150511946.xml)
- [Larsen & Toubro Limited has informed the Exchange about change in Management |SUBJECT: Change in Management](https://nsearchives.nseindia.com/corporate/PAM_07102026212904_IntimationSRMGT07102026.pdf)
- [Larsen & Toubro Limited has informed the Exchange about Bagging/Receiving of orders/contracts |SUBJECT: Bagging/Receiving of orders/contracts](https://nsearchives.nseindia.com/corporate/PAM_05102026093512_PressRelease05102026.pdf)
- [LARSEN & TOUBRO LIMITED has informed the Exchange about Bagging/Receiving of orders/contracts (Sub-para 4-Para B) |SUBJECT: Bagging/Receiving of orders/contracts (Sub-para 4-Para B)](https://nsearchives.nseindia.com/corporate/xbrl/REG30_PARA_B_2203_WebXMLFile_20261005_193000820.xml)
- [Larsen & Toubro Limited has informed the Exchange about Bagging/Receiving of orders/contracts |SUBJECT: Bagging/Receiving of orders/contracts](https://nsearchives.nseindia.com/corporate/PAM_30092026121641_PressRelease30092026.pdf)
## Technical analytics

- As of: 2026-10-13
- Daily trend: Strong Downtrend
- Weekly trend: Weak Downtrend
- Pivot point: ₹3,658.97
- Risk regime: Price Risk Requires Attention

### Support levels
- 3635.4875
- 3470
- 3413.59375

### Resistance levels
- 3729.736279296875
- 3825.45625
- 4080

### Return and range metrics

| Metric | Value |
| --- | --- |
| return_1 | +1.31% |
| return_10 | -2.43% |
| return_1m | -6.51% |
| return_1y | -2.51% |
| return_20 | -6.51% |
| return_3m | -6.45% |
| return_5 | -2.52% |
| return_6m | -7.06% |
| return_since_start | +0.20% |
| return_ytd | -11.24% |

### Risk and volatility metrics

| Metric | Value |
| --- | --- |
| state | elevated_risk |
| label | Price risk requires attention |
| summary | Recent drawdown or price variability is high enough to warrant closer monitoring. |
| maximum_drawdown | -24.35% |
| annualized_volatility | +24.79% |

## Quarterly financials

- Latest complete quarter: fy27_q1

# Revenue rises 6.7% year-on-year; profit growth outpaces top line as finance costs drop

Larsen & Toubro Limited reported revenue of ₹67,941.74 crore for the quarter ended 30 June 2026, a 6.7% increase from the same period last year. Profit before tax grew 18.1% to ₹6,922.26 crore, supported by a 31% decline in finance costs. Net profit rose 15.5% to ₹4,988.03 crore, while comprehensive income increased 6.4% to ₹5,825.84 crore.

## Revenue Performance

Revenue from operations was ₹67,941.74 crore in the first quarter of fiscal 2027, up 6.69% from ₹63,678.92 crore in the first quarter of fiscal 2026. Sequentially, revenue declined 17.91% from ₹82,762.16 crore in the fourth quarter of fiscal 2026.

## Profitability and Cost Trends

Profit before tax increased 18.14% year-on-year to ₹6,922.26 crore, outpacing the growth in revenue. The increase in pre-tax profit was supported by a 31.08% reduction in finance costs, which fell to ₹538.67 crore—the lowest level recorded in the five-quarter series. 

Tax expense rose 26.43% to ₹1,939.41 crore, raising the effective tax rate from 26.2% in the first quarter of fiscal 2026 to 28.0% in the first quarter of fiscal 2027. Profit from continuing operations grew 15.2% to ₹4,982.85 crore. Profit for the period, which includes a ₹5.18 crore contribution from discontinued operations, was ₹4,988.03 crore, up 15.51% year-on-year.

## Comprehensive Income

Comprehensive income for the period was ₹5,825.84 crore, up 6.37% from ₹5,477.08 crore in the first quarter of fiscal 2026. Other comprehensive income (OCI) was ₹837.81 crore, down 27.71% from ₹1,158.91 crore a year ago. OCI has fluctuated over the past five quarters, ranging from a loss of ₹1,723.42 crore in the fourth quarter of fiscal 2026 to a gain of ₹1,158.91 crore in the first quarter of fiscal 2026. The positive OCI in the first quarter of fiscal 2027 added ₹837.81 crore to net profit to arrive at comprehensive income.

## Management Commentary

L&T reported Q1 FY27 revenue of ₹67,942 crore (+7% YoY) and PAT of ₹4,123 crore (+14% YoY), with order inflows rising 14% to ₹1,08,014 crore. Management expressed confidence in sustaining growth by rotating focus across sectors and geographies, underpinned by healthy domestic demand and policy support. However, EBITDA margin contracted to 9.0% due to lower execution levels, forex variation in IT subsidiaries, and higher credit provisions. The company is executing its robust order book, investing in AI and digital solutions, and maintaining financial discipline, as evidenced by net working capital improving to 4.9% from 10.1% a year ago. Key risks include supply chain disruptions, elevated energy prices, and geopolitical tensions. A major highlight was the ultra-mega offshore wind framework agreement with TenneT, strengthening the Energy – Green segment.

## Key Takeaway

Larsen & Toubro Limited’s first quarter showed solid year-on-year revenue growth and a more pronounced increase in profitability, supported by a significant reduction in finance costs. The effective tax rate rose to 28.0%, and other comprehensive income remained volatile, though it contributed positively to comprehensive income this quarter. The quarter reflects a business growing its top line while benefiting from lower financing expenses.

### Ratios

## Shareholding pattern

- Quarter: FY2027-Q1
- As of: 2026-06-30
- Promoter holding: +0.00%
- FII holding: +19.10%
- DII holding: +43.01%
- Mutual fund holding: +20.10%
- Retail holding: +18.81%
- Promoter pledged: +0.00%

### Major reported shareholders

- L&T EMPLOYEES TRUST — +14.57% (Trusts)
- LIFE INSURANCE CORPORATION OF INDIA — +12.41%
- SBI MUTUAL FUND — +4.69%
- ICICI PRUDENTIAL MUTUAL FUND — +3.58%
- NPS TRUST A/C UTI PENSION FUND LIMITED — +3.45%
- HDFC MUTUAL FUND — +2.14%
- NIPPON LIFE INDIA TRUSTEE LTD — +1.69%
- UTI MUTUAL FUND — +1.58%
- GOVERNMENT OF SINGAPORE — +1.58%
- GENERAL INSURANCE CORPORATION OF INDIA — +1.47%

## Official filings

- 2026-10-12 — Generic Announcement: Larsen & Toubro Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/PAM_12102026183004_Intimation745Sep2026.pdf)
- 2026-10-08 — Generic Announcement: Larsen & Toubro Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/CIM_2203_WebXMLFile_20261008_181947155.xml)
- 2026-10-07 — Generic Announcement: Larsen & Toubro Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/PAM_07102026101304_PressRelease07102026.pdf)
- 2026-10-07 — Generic Announcement: Larsen & Toubro Limited — [Official attachment](https://nsearchives.nseindia.com/content/debt/WDM/PAM_07102026120755_ISINIntimationSep2026.pdf)
- 2026-10-07 — Generic Announcement: Larsen & Toubro Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/REG30_PARA_B_2203_WebXMLFile_20261007_150511946.xml)
- 2026-10-07 — Generic Announcement: Larsen & Toubro Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/PAM_07102026212904_IntimationSRMGT07102026.pdf)
- 2026-10-05 — Generic Announcement: Larsen & Toubro Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/PAM_05102026093512_PressRelease05102026.pdf)
- 2026-10-05 — Generic Announcement: Larsen & Toubro Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/REG30_PARA_B_2203_WebXMLFile_20261005_193000820.xml)
- 2026-09-30 — Generic Announcement: Larsen & Toubro Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/PAM_30092026121641_PressRelease30092026.pdf)
- 2026-09-30 — Generic Announcement: Larsen & Toubro Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/PAM_30092026152845_IntimationLTMRHL30092026.pdf)
- 2026-09-30 — Generic Announcement: Larsen & Toubro Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/REG30_PARA_B_2203_WebXMLFile_20260930_192102196.xml)
- 2026-09-25 — Generic Announcement: Larsen & Toubro Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/PAM_25092026164412_Intimation25092026.pdf)
- 2026-09-25 — Generic Announcement: Larsen & Toubro Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/CLOSURE_TRADING_WINDOW_2203_WebXMLFile_20260925_165454953.xml)
- 2026-09-18 — Press Release: Larsen & Toubro Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/PAM_18092026105408_PressRelease18092026.pdf)
- 2026-09-17 — Credit Rating Update: Larsen & Toubro Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/PAM_17092026142102_ESGRating17092026.pdf)
- 2026-09-16 — Generic Announcement: Larsen & Toubro Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/SAIIM_2203_WebXMLFile_20260916_172103550.xml)
- 2026-09-16 — Generic Announcement: Larsen & Toubro Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/PAM_16092026172400_Intimation16092026.pdf)
- 2026-09-15 — Generic Announcement: Larsen & Toubro Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/PAM_15092026173026_ESOPAllotment15092026.pdf)
- 2026-09-15 — Generic Announcement: Larsen & Toubro Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/ALTERATION_OF_CAPITAL_AND_FUND_RAISING_2203_WebXMLFile_20260915_184418511.xml)
- 2026-09-11 — Generic Announcement: L&T Finance Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/IDBITSL_11092026151506_LT_Finance_Limited.pdf)
- 2026-09-11 — Generic Announcement: L&T Finance Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/IDBITSL_11092026151506_LT_Finance_Limited.pdf)
- 2026-09-11 — Generic Announcement: L&T Finance Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/IDBITSL_11092026151506_LT_Finance_Limited.pdf)
- 2026-09-11 — Generic Announcement: L&T Finance Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/IDBITSL_11092026151506_LT_Finance_Limited.pdf)
- 2026-09-11 — Generic Announcement: L&T Finance Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/IDBITSL_11092026151506_LT_Finance_Limited.pdf)
- 2026-09-11 — Generic Announcement: L&T Finance Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/IDBITSL_11092026151506_LT_Finance_Limited.pdf)

## News and market events

- 2026-10-10 — Mint: **Larsen & Toubro shares: 114% return in 5 yrs, Motilal Oswal sees 19% more upside stock | Target price** — Larsen & Toubro shares have fallen 10.6% in 2026 so far, despite delivering 114% returns over five years. Motilal Oswal sees nearly 19% upside, citing order growth, domestic project execution and opportunities across multiple international markets. — [Source](https://www.livemint.com/market/stock-market-news/larsen-toubro-shares-114-return-in-5-yrs-motilal-oswal-sees-19-more-upside-stock-target-price-11791645969173.html)
- 2026-10-05 — LIVELAW.IN: **Mumbai–Ahmedabad High Speed Rail Project: UNUC Legal LLP Represents NHSRCL In CAM Dispute; Dispute Board Rejects L&T's Claims** — UNUC Legal LLP represented the National High Speed Rail Corporation Limited (NHSRCL) in Dispute No. 3 arising from the Mumbai–Ahmedabad High Speed Rail Project, MAHSR Package T-3, concerning the... — [Source](https://www.livelaw.in/law-firms/litigation/mumbaiahmedabad-high-speed-rail-project-unuc-legal-llp-represents-nhsrcl-in-cam-dispute-dispute-board-rejects-lts-claims-553193)
- 2026-10-05 — FREEPRESSJOURNAL.IN: **L&T Bags Mega Orders Worth Rs 10,000-15,000 Crore, Power Projects Span India, Saudi Arabia & UAE** — L&T wins mega power transmission orders across India, Saudi Arabia and UAE, covering substations, transmission lines and projects supporting renewable energy integration globally. — [Source](https://www.freepressjournal.in/business/lt-bags-mega-orders-worth-rs-10000-15000-crore-power-projects-span-india-saudi-arabia-uae)
- 2026-10-05 — BUSINESSTODAY: **L&T secures mega orders worth ₹10,000 crore to ₹15,000 crore for power transmission across India, Saudi Arabia & UAE** — Larsen & Toubro, L&T, power transmission, distribution, mega orders, India power projects, Saudi Arabia energy, UAE substations, renewable energy integration, transmission lines, substations, grid infrastructure, power sector India, EPC projects, energy infrastructure — [Source](https://www.businesstoday.in/latest/corporate/story/lt-secures-mega-orders-worth-rs10000-crore-to-rs15000-crore-for-power-transmission-across-india-saudi-arabia-uae-559549-2026-10-05)
- 2026-10-01 — News18: **Market Today: Sensex Falls 172 Points, Nifty Opens Below 22,600; Auto, Pharma Drag** — The domestic equity markets open lower on Thursday, October 1, with selling pressure visible across broader markets. — [Source](https://www.news18.com/business/markets/market-today-sensex-falls-172-points-nifty-opens-below-22600-auto-pharma-drag-10361957.html)
- 2026-10-01 — BUSINESS: **Stocks to watch: RIL, NSE, HDFC Bank, IRFC, Infosys, Cupid, Blue Dart, OMCs** — Stocks to watch today: Reliance Industries, NSE, HDFC Bank, IRFC, Infosys, Cupid, Blue Dart, OMCs, STL Networks, RBL Bank, among others will be in focus today — [Source](https://www.business-standard.com/markets/news/stocks-to-watch-ril-nse-hdfc-bank-irfc-infosys-cupid-blue-dart-omcs-126100100107_1.html)
- 2026-10-01 — CNBC-TV18: **PM Dhara Scheme Unveiled - These stocks could be the likely beneficiaries** — Power Grid will be another potential beneficiary of this scheme, along with cables and power companies such as KEI Industries, Polycab, and others due to their Medium Voltage Power Cables (MV), and Extra High Voltage (EHV) power cables capabilities. — [Source](https://www.cnbctv18.com/market/pm-dhara-scheme-likely-beneficiaries-power-grid-ge-vernova-power-grid-polycab-cap-goods-share-price-capex-timeline-objectives-20002551.htm)
- 2026-09-30 — Economic Times: **L&T extends Hyderabad Metro stake sale deadline to Dec 31** — Larsen & Toubro has announced a revised completion deadline for selling its stake in L&T Metro Rail (Hyderabad) Ltd. The new deadline is set for December 31, 2026, as announced in a recent filing. This marks multiple extensions from the initial closure target of June 30, 2026, indicating ongoing challenges. — [Source](https://economictimes.indiatimes.com/industry/indl-goods/svs/engineering/lt-extends-hyderabad-metro-stake-sale-deadline-to-dec-31/articleshow/134598204.cms)
- 2026-09-30 — DECCANCHRONICLE.COM: **L&T Extends Hyderabad Metro Stake Sale Deadline to Dec 31** — Larsen & Toubro on Wednesday said it has extended the timeline for completing the sale of its stake in L&T Metro Rail (Hyderabad) Ltd to December 31 — [Source](https://www.deccanchronicle.com/southern-states/telangana/lt-extends-completion-date-for-hyderabad-metro-project-stake-sale-to-dec-31-1991932)
- 2026-09-30 — CNBC-TV18: **L&T extends Hyderabad Metro stake sale deadline to December 31** — L&T has pushed back the ₹1,461 crore deal for the second time, with the company giving no reason for the latest delay. — [Source](https://www.cnbctv18.com/business/companies/larsen-and-toubro-extends-rs-1461-crore-hyderabad-metro-stake-sale-deadline-to-december-31-for-second-time-20002180.htm)
- 2026-09-30 — FREEPRESSJOURNAL.IN: **L&T Bags Twin Dubai Road Contracts, 12-Km Corridor To Cut Travel Time From 33 To 15 Minutes** — L&T has secured two Dubai road contracts for a 12-km corridor that will handle 130,000 daily trips and cut travel time from 33 to 15 minutes. — [Source](https://www.freepressjournal.in/business/lt-bags-twin-dubai-road-contracts-12-km-corridor-to-cut-travel-time-from-33-to-15-minutes)
- 2026-09-30 — CNBC-TV18: **L&T unit secures a 'significant' and a 'large' contract in Dubai worth up to ₹7,500 crore** — Both projects are scheduled to be completed by 2028-end, post which the overall Latifa Bint Hamdan Corrior will extend approximately 12 km and strengthen connectivity between Dubai's key road corridors, including Sheikh Zayed Road, Al Khail Road, Al Meydan Street, Sheikh Mohammed bin Zayed Road, Sheikh Zayed bin Hamdan Al Nahyan Street and Emirates Road, L&T said. — [Source](https://www.cnbctv18.com/market/larsen-and-toubro-lt-share-price-significant-large-contract-dubai-7500-crore-fy27-guidance-order-inflow-20002034.htm)
- 2026-09-30 — BUSINESSTODAY: **L&T bags twin Dubai contracts for bridges, tunnels and roads, projects to handle 130,000 trips daily** — L&T Dubai contract, L&T Dubai projects, L&T contract value, L&T order book, L&T latest news, Larsen and Toubro Dubai, L&T RTA contract, Dubai Roads and Transport Authority, Dubai road project, Latifa Bint Hamdan Corridor, Latifa Bint Hamdan Street, Al Khail Road, Al Meydan Street, Dubai infrastructure project, L&T infrastructure — [Source](https://www.businesstoday.in/latest/corporate/story/lt-bags-twin-dubai-contracts-for-bridges-tunnels-and-roads-projects-to-handle-130000-trips-daily-558775-2026-09-30)
- 2026-09-30 — Mint: **King of Bonus Shares: Wipro, L&T, Infosys - These 5 companies have given the most bonus issues | Check list** — Wipro leads the list with 14 bonus issues, followed by Larsen & Toubro with 10. Infosys and Bajaj Holdings & Investment have each announced eight bonus issues, while ITC has seven. T — [Source](https://www.livemint.com/market/stock-market-news/king-of-bonus-shares-wipro-l-t-itc-infosys-these-5-companies-have-given-the-most-bonus-issues-check-list-11790739860636.html)
- 2026-09-29 — MONEYCONTROL: **Block Deals: Jupiter Capital sells 10.69% Axiscades stake; Abakkus, Kotak AMC among buyers** — Axiscades Technologies,Cube Highways Trust,Block Deals — [Source](https://www.moneycontrol.com/news/business/markets/block-deals-block-deals-jupiter-capital-sells-10-69-axiscades-stake-abakkus-kotak-amc-among-buyers-14041255.html)
- 2026-09-29 — IANSLIVE.IN: **India, South Korea to boost cooperation in defence production and logistics** — New Delhi, Sep 29 (IANS) India and South Korea on Tuesday reaffirmed the close and growing defence ties between the two countries towards advancing bilateral cooperation in defence production and logistics. — [Source](https://ianslive.in/india-south-korea-to-boost-cooperation-in-defence-production-and-logistics--20260929215014)
- 2026-09-28 — BUSINESS: **Stock Alert: RCF, SAIL , JSW Energy, Augmont Enterprises, Balrampur Chini Mills** — Shares of Kaynes Technology, LIC Housing Finance, Manappuram Finance, SAIL are barred from F&O trading on Monday, 28 September 2026. — [Source](https://www.business-standard.com/markets/capital-market-news/stock-alert-rcf-sail-jsw-energy-augmont-enterprises-balrampur-chini-mills-126092800108_1.html)
- 2026-09-28 — Mint: **Top stocks in focus today: Investors must watch Power Grid, Cupid, SAIL shares on Monday, 28 Sept | Triggers** — SAIL, Power Grid, KPI Green Energy, Godrej Properties, Zydus Lifesciences are some of the companies that are likely to attract attention following announcements made by the companies. — [Source](https://www.livemint.com/market/stock-market-news/top-stocks-in-focus-today-investors-must-watch-power-grid-cupid-sail-shares-on-monday-28-sept-triggers-11790558892670.html)
- 2026-09-28 — Economic Times: **Stocks in news: Adani Power, SAIL, BCCL, SAIL, Cupid and CleanMax Enviro** — Indian equity benchmarks experienced an increase on Friday, noting that volatility in crude oil and bond yields affected investor sentiment. The Nifty 50 and Sensex closed higher, although gains were limited due to market conditions. Several companies, including Adani Power and SAIL, are expected to be in focus following corporate developments. Notably, Adani Power completed a merger of subsidiaries, while SAIL signed a memorandum for coal block development. — [Source](https://economictimes.indiatimes.com/markets/stocks/news/stocks-in-news-adani-power-sail-bccl-sail-cupid-and-cleanmax-enviro/articleshow/134495513.cms)
- 2026-09-28 — The Hindu: **Two dozen stocks, including NMDC, Adani Power, NTPC Green, Sedemac, Aditya Infotech, TVS Motor, Chemplast, will remain in focus on Monday** — Stocks in focus Monday: NMDC, NTPC Green, Adani Power, TVS Motor, with updates from iron ore and energy, manufacturing launches, and regulatory moves — [Source](https://www.thehindubusinessline.com/markets/two-dozen-stocks-including-nmdc-adani-power-ntpc-green-sedemac-aditya-infotech-tvs-motor-chemplast-will-remain-in-focus-on-monday/article71518148.ece)
- 2026-09-28 — Mint: **India's AI enablers surge as data centre buildout gathers pace** — India’s AI-linked infrastructure stocks have surged despite a weak equity market, with Goldman Sachs identifying 42 enablers across power, data centres and semiconductors as demand for AI infrastructure accelerates. — [Source](https://www.livemint.com/market/stock-market-news/ai-stocks-india-data-centres-semiconductors-11790480876598.html)
- 2026-09-28 — BUSINESSTODAY: **BT Big Story: India wants to become a shipbuilding power. Can it match China, Japan & South Korea?** — Shipbuilding industry, Maritime sector, Shipping policy, Defense manufacturing, Commercial shipbuilding, Naval shipbuilding, Maritime infrastructure, Make in India, Maritime India Vision, SAGAR framework, Financial Assistance Policy, Defense indigenization, Port infrastructure expansion, Shipbuilding clusters, Mazagon Dockyard Limited (MDL), Garden Reach Shipbuilders & Engineers (GRSE), Cochin Shipyard Limited (CSL), Goa Shipyard Limited (GSL), L&T Shipbuilding, Indian Navy, Modular warship construction, Ship repair and overhaul (MRO), Gross Tonnage (GT) capacity, Defense exports, Auxiliary co — [Source](https://www.businesstoday.in/india/story/bt-big-story-india-wants-to-become-a-shipbuilding-power-can-it-match-china-japan-south-korea-558082-2026-09-28)
- 2026-09-27 — CNBC-TV18: **Stocks to watch for September 28: SAIL, Adani Power, Rashtriya Chemicals and more** — From Adani Power completing the merger of 10 wholly owned subsidiaries with the company to Prestige Hospitality Ventures withdrawing its Draft Red Herring Prospectus filed with SEBI, these are the stocks to track ahead of Monday’s trading session. — [Source](https://www.cnbctv18.com/photos/market/stocks-to-watch-for-september-28-sail-adani-power-rashtriya-chemicals-and-more-19998897.htm)
- 2026-09-27 — Mint: **Top stocks to watch on Monday, 28 Sept and why: Adani Power, SAIL, BCCL, Power Grid, Cupid in focus - Full list here** — Shares of Adani Power, SAIL, BCCL, Power Grid are among those expected to remain in focus during Monday’s trading session. — [Source](https://www.livemint.com/market/stock-market-news/top-stocks-to-watch-on-monday-28-sept-and-why-adani-power-sail-bccl-power-grid-cupid-in-focus-full-list-here-11790495173123.html)
- 2026-09-27 — Economic Times: **Orbital Shift: India's space sector undergoing biggest transformation; pvt firms handle rockets, ISRO focus on more ambitious missions** — India's space sector is undergoing significant changes as private companies engage in rocket production and management. The Indian Space Research Organisation is shifting its focus towards more ambitious missions and projects. This transition follows the introduction of the Indian Space Policy 2023, which emphasizes private sector participation. Concerns have been raised by ISRO employees regarding the agency's future and potential loss of capabilities. — [Source](https://economictimes.indiatimes.com/news/science/orbital-shiftindias-space-sector-transformation-pvt-firms-handle-rockets-isro-focus-on-indian-space-station-venus-mission-gaganyaan-chandrayaan-4-vikram/articleshow/134515279.cms)

## Business profile

**Strategic vision:** Conglomerate executing EPC projects, manufacturing, defense, IT, and financial services.

### Business segments
- **Infrastructure & Hydrocarbon EPC:** Executes projects in road construction, bridges, metros, water treatment plants, renewable energy grids, and upstream petrochemical facilities.
- **Hi-Tech Manufacturing & Defense:** Designs and manufactures heavy machinery, nuclear power equipment, aerospace assemblies, and naval defense systems.
- **Technology Services:** Provides digital transformation, enterprise IT services, specialized product engineering, digital manufacturing design, and embedded software services.
- **Financial Services:** Offers home loans, microfinance, rural agriculture loans, and commercial infrastructure lending.
- **Asset Concessions:** Builds, operates, and transfers long-term concessions such as toll roads, metro rail networks, and power transmission lines.

### Competitive strengths
- Integrated execution of large-scale infrastructure and industrial projects.
- Synergistic integration of digital technology services into physical infrastructure.
- In-house financial services supporting project ecosystems and supply chains.

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## Freshness and sources

- Data as of: 2026-10-13
- Source: Faxioms public stock analysis API

Canonical: https://faxioms.com/stocks/lt
Markdown representation: https://faxioms.com/stocks/lt?render=md