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Larsen & Toubro Ltd

NSE

₹3,661.90+0.96%19 Oct 2026

Reports

Infra Construction and Contracting

Larsen & Toubro Ltd

NSE

₹3,661.90

+0.96%

19 Oct 2026

SOICxStockScans Reports

Ask AI

Infra Construction and Contracting

Indices

Business Overview: What the company does, in plain English.Growth Catalysts: The forward growth drivers and triggers.Guidance Report: Management guidance vs outcomes.Forensic Report: Accounting quality and red flags.Deep Dive Report: In-depth business analysis.

Larsen & Toubro is fundamentally a builder of the physical and digital infrastructure that modern economies run on - it constructs everything from sea bridges and nuclear reactors to AI data centres and offshore hydrocarbon structures. Founded in 1946 by two Danish engineers in Mumbai, the company has spent eight decades evolving from a civil contractor into a USD 30 billion multinational that balances the cyclical nature of large-scale construction with a growing portfolio of technology and services businesses. The recurring approach that explains this shape is a deliberate portfolio strategy: mature, cash-generating engineering businesses fund the incubation of high-growth ventures in IT, green energy, and digital platforms, which are then scaled to stand on their own.

Business segments

Five engines at different stages - a hydrocarbon cash cow, two consumer platforms at national scale, and a green-energy bet under construction - each built with the cash flows of the one before.

1. Infrastructure Projects: the group's foundation and largest order book

This is the business of building India's roads, metros, factories, and power grids under fixed-price government and private contracts, where scale and the ability to handle 716 active sites at once create a barrier to entry.

Paid by the milestone - revenue is recognised as project work is completed under the percentage-of-completion method, with margins booked only after crossing a specific threshold, which means cash flow depends on relentless execution across an Infrastructure segment order book of ₹4.24 trillion.
Commodity costs are hedged where possible - steel and cement, which together account for over ₹21,000 crore of annual input cost, are not hedged and are managed through back-to-back supplier contracts, while aluminium and copper are over 90% hedged internationally.
Seven sub-businesses under one roof - Buildings & Factories, Transportation, Heavy Civil, Power Transmission & Distribution, Renewables, Water & Effluent Treatment, and Minerals & Metals each bid for their own contracts, sharing a common pool of 11 construction skill-training institutes that produce over 10,000 trained workmen a year.

2. Energy Projects: where the group's international hydrocarbon expertise lives

This segment designs and builds oil-and-gas processing plants and offshore platforms, predominantly for Middle Eastern clients, and is now parlaying that engineering skill into offshore wind and low-carbon power.

Nine out of ten prospects are overseas - approximately 93% of the hydrocarbon pipeline sits in international markets, with the business ranked among the top three EPC contractors in the Middle East oil-and-gas sector for four consecutive years.
Modular fabrication cuts cost and time - the business builds large sections of plants at its own coastal yards in Hazira, Kattupalli, and Sohar (Oman), then ships them to site, which reduces on-site labour and speeds up commissioning.
Offshore wind is the new frontier - a landmark order for HVDC converter stations from TenneT, a leading European renewable energy operator, in partnership with Hitachi Energy, marks a major milestone in L&T's Offshore Wind Business, connecting North Sea wind farms to the European power grid.
CarbonLite is the domestic thermal bet - a newer sub-segment focused on building boiler-turbine-generator packages for Indian thermal power plants, with a prospects pipeline that jumped from near-zero to ₹0.40 trillion in a single year.

3. IT & Technology Services: the margin engine that offsets construction cycles

Two listed subsidiaries - LTIMindtree and L&T Technology Services - plus a collection of incubated digital platforms generate higher and more stable margins than the project businesses, with 91% of revenue coming from international clients.

A merger that created scale - LTIMindtree was formed by combining L&T Infotech and Mindtree, creating an AI-focused technology services company with over 87,000 employees serving more than 740 clients across 14 industry verticals.
Engineering R&D for Fortune 500 firms - L&T Technology Services partners with 69 Fortune 500 companies, running 98 innovation labs and holding 1,706 patents, with large deals averaging roughly USD 200 million in total contract value for six straight quarters.
A fabless semiconductor play from scratch - L&T Semiconductor Technologies, incorporated in late 2023, designs chips for mobility, industrial, and data-centre applications, has already shipped its first power modules to a Japanese customer, and acquired power module technology from Fujitsu General Electronics to accelerate its roadmap.
Digital platforms that serve India's industrial backbone - L&T-SuFin is a B2B marketplace for construction and industrial goods that crossed ₹8,000 crore in gross merchandise value by offering financing and AI-driven trust scores to MSME buyers and sellers.

4. Financial Services: a nationwide retail lending franchise

L&T Finance has transformed itself from a wholesale lender into a 98% retail book serving over 2.8 crore customers, funding everything from tractors and two-wheelers to home loans and microfinance group loans.

Rural India is the core - the business runs over 1,800 rural branches reaching roughly 200,000 villages, with rural group loans and microfinance forming a ₹29,367 crore portfolio that maintains a 99.8% collection efficiency.
Digital underwriting lowers defaults - an in-house tool called Project Cyclops reduced early-payment bounce rates by over 6% on the two-wheeler loan portfolio, and by over 12% on loans it specifically underwrote, by using data analytics to sharpen credit decisions.
The wholesale exit is nearly complete - the legacy real-estate and infrastructure finance book was shrunk by 87% over two years, freeing up capital and simplifying the balance sheet as the business hit all its strategic targets two years ahead of schedule.

5. Hi-Tech Manufacturing: the precision-engineering backbone for defence, nuclear, and process industries

This segment makes the reactors, heat exchangers, artillery systems, and electrolysers that other businesses - including L&T's own - depend on, operating from 18 specialised factories across India.

A global leader in heavy reactors - the Heavy Engineering unit has won 17 consecutive urea-reactor orders in India and counts Woodside, Marathon, and Imperial Oil among its international clients, with the share of revenue from international operations at 45%.
The defence business is built on indigenisation - Precision Engineering & Systems delivered the 100th K9 VAJRA howitzer with over 80% indigenous work packages, replacing 14 critical Korean systems with Indian-developed alternatives and sustaining a supply chain of nearly 1,000 local partners.
Electrolyser manufacturing is the green hedge - a robotic-enabled giga-scale factory in Hazira produces pressurised alkaline electrolysers with over 85% of the supply chain indigenised, supported by a ₹444 crore government production-linked incentive for 300 MW of capacity.

Group structure and partners

L&T operates as a federation of listed and unlisted subsidiaries, each focused on a distinct market, with the parent actively buying, selling, and partnering to reallocate capital toward higher-growth areas.

Three listed subsidiaries carry the services and lending franchises - LTIMindtree, L&T Technology Services, and L&T Finance are separately listed, giving each its own currency for growth while the parent consolidates their financials.
A web of wholly-owned vehicles for new ventures - L&T Energy Green Tech, L&T Semiconductor Technologies, L&T Electrolysers, SuFin Limited, and Vyoma.AI are all fully owned subsidiaries created to incubate businesses in green hydrogen, chip design, B2B e-commerce, and AI data centres.
Global partnerships fill technology gaps - the group collaborates with General Atomics for drone manufacturing, Holtec for small modular reactors, Hitachi Energy for offshore wind converter stations, and BAE Systems for all-terrain military vehicles, pairing its manufacturing scale with foreign intellectual property.

Quick Ratios

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Balance Sheet

Cash Flow

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Quarterly Results

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Balance Sheet

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Mkt Cap

Market Capitalization

₹5,03,839Cr

Close Price

₹3,661.90

Industry

Infra Construction and Contracting

Price To Earnings

30.37

Price To Sales

1.74

Revenue

₹2,90,137Cr

Rev Gr TTM

Revenue Growth TTM

9.78%

PAT Gr TTM

PAT Growth TTM

6.70%

Upcoming Results on

27 Oct 2026

Consolidated

Standalone

Numbers

Percentage

Quarter	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
Revenue RevenueCr	51,024	55,128	67,079	55,120	61,555	64,668	74,392	63,679	67,984	71,450	82,762	67,942
Growth YoY Revenue Growth YoY%	19.3	18.8	15.0	15.1	20.6	17.3	10.9	15.5	10.4	10.5	11.3	6.7
Expenses ExpensesCr	43,984	47,929	58,426	48,074	53,638	56,770	64,516	55,655	59,470	62,259	72,343	59,793
Operating Profit Operating ProfitCr	7,040	7,199	8,653	7,046	7,917	7,898	9,876	8,024	8,513	9,190	10,419	8,149
OPM OPM%	13.8	13.1	12.9	12.8	12.9	12.2	13.3	12.6	12.5	12.9	12.6	12.0
Other Income Other IncomeCr	1,133	838	1,135	921	1,101	968	1,610	1,357	1,384	-350	1,647	2,377
Interest Expense Interest ExpenseCr	2,272	2,344	2,345	2,292	2,439	2,486	2,419	2,488	2,470	2,399	2,488	2,571
Depreciation DepreciationCr	910	921	1,021	998	1,024	1,047	1,052	1,033	1,092	1,072	1,168	1,032
PBT PBTCr	4,991	4,772	6,422	4,677	5,555	5,333	8,014	5,860	6,336	5,370	8,410	6,922
Tax TaxCr	1,136	1,177	1,418	1,237	1,442	1,332	1,881	1,534	1,649	1,541	2,093	1,939
PAT PATCr	3,856	3,595	5,004	3,440	4,113	4,001	6,133	4,326	4,687	3,829	6,318	4,983
Growth YoY PAT Growth YoY%	36.8	17.2	12.5	10.4	6.7	11.3	22.6	25.7	14.0	-4.3	3.0	15.2
NPM NPM%	7.6	6.5	7.5	6.2	6.7	6.2	8.2	6.8	6.9	5.4	7.6	7.3
EPS EPS₹	22.9	21.4	32.0	20.3	24.7	24.4	40.0	26.3	28.5	23.4	38.7	30.0

Quarter	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
Revenue RevenueCr	51,024	55,128	67,079	55,120	61,555	64,668	74,392	63,679	67,984	71,450	82,762	67,942
Growth YoY Revenue Growth YoY%	19.3	18.8	15.0	15.1	20.6	17.3	10.9	15.5	10.4	10.5	11.3	6.7
Expenses ExpensesCr	43,984	47,929	58,426	48,074	53,638	56,770	64,516	55,655	59,470	62,259	72,343	59,793
Operating Profit Operating ProfitCr	7,040	7,199	8,653	7,046	7,917	7,898	9,876	8,024	8,513	9,190	10,419	8,149
OPM OPM%	13.8	13.1	12.9	12.8	12.9	12.2	13.3	12.6	12.5	12.9	12.6	12.0
Other Income Other IncomeCr	1,133	838	1,135	921	1,101	968	1,610	1,357	1,384	-350	1,647	2,377
Interest Expense Interest ExpenseCr	2,272	2,344	2,345	2,292	2,439	2,486	2,419	2,488	2,470	2,399	2,488	2,571
Depreciation DepreciationCr	910	921	1,021	998	1,024	1,047	1,052	1,033	1,092	1,072	1,168	1,032
PBT PBTCr	4,991	4,772	6,422	4,677	5,555	5,333	8,014	5,860	6,336	5,370	8,410	6,922
Tax TaxCr	1,136	1,177	1,418	1,237	1,442	1,332	1,881	1,534	1,649	1,541	2,093	1,939
PAT PATCr	3,856	3,595	5,004	3,440	4,113	4,001	6,133	4,326	4,687	3,829	6,318	4,983
Growth YoY PAT Growth YoY%	36.8	17.2	12.5	10.4	6.7	11.3	22.6	25.7	14.0	-4.3	3.0	15.2
NPM NPM%	7.6	6.5	7.5	6.2	6.7	6.2	8.2	6.8	6.9	5.4	7.6	7.3
EPS EPS₹	22.9	21.4	32.0	20.3	24.7	24.4	40.0	26.3	28.5	23.4	38.7	30.0

Consolidated

Standalone

Numbers

Percentage

Financial Year	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
Revenue RevenueCr	1,01,122	1,09,312	1,19,683	1,35,220	1,45,452	1,35,979	1,56,521	1,83,341	2,21,113	2,55,734	2,85,874	2,90,137
Growth Revenue Growth%	9.9	8.1	9.5	13.0	7.6	-6.5	15.1	17.1	20.6	15.7	11.8	9.8
Expenses ExpensesCr	85,693	92,819	1,00,092	1,12,505	1,21,082	1,12,664	1,32,364	1,56,561	1,91,904	2,22,997	2,49,728	2,53,866
Operating Profit Operating ProfitCr	15,430	16,493	19,591	22,715	24,371	23,315	24,157	26,780	29,209	32,737	36,146	36,272
OPM OPM%	15.3	15.1	16.4	16.8	16.8	17.1	15.4	14.6	13.2	12.8	12.6	12.5
Other Income Other IncomeCr	999	1,466	1,535	2,131	2,361	3,429	2,364	3,065	4,252	4,600	4,038	5,058
Interest Expense Interest ExpenseCr	6,622	6,701	7,558	9,188	10,839	11,604	9,078	9,234	9,261	9,637	9,844	9,928
Depreciation DepreciationCr	1,787	2,370	1,929	1,923	2,462	2,904	2,948	3,502	3,682	4,121	4,365	4,364
PBT PBTCr	8,020	8,887	11,639	13,735	13,431	12,236	14,495	17,109	20,517	23,579	25,976	27,039
Tax TaxCr	2,437	2,007	3,199	4,067	3,263	4,011	4,204	4,484	4,947	5,891	6,816	7,222
PAT PATCr	5,583	6,881	8,440	9,668	10,168	8,225	10,291	12,625	15,570	17,687	19,159	19,817
Growth PAT Growth%	12.5	23.3	22.7	14.6	5.2	-19.1	25.1	22.7	23.3	13.6	8.3	6.7
NPM NPM%	5.5	6.3	7.0	7.2	7.0	6.0	6.6	6.9	7.0	6.9	6.7	6.8
EPS EPS₹	30.3	28.8	52.6	63.5	68.0	82.5	61.7	74.5	94.0	109.4	116.9	120.6

Financial Year	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
Revenue RevenueCr	1,01,122	1,09,312	1,19,683	1,35,220	1,45,452	1,35,979	1,56,521	1,83,341	2,21,113	2,55,734	2,85,874	2,90,137
Growth Revenue Growth%	9.9	8.1	9.5	13.0	7.6	-6.5	15.1	17.1	20.6	15.7	11.8	9.8
Expenses ExpensesCr	85,693	92,819	1,00,092	1,12,505	1,21,082	1,12,664	1,32,364	1,56,561	1,91,904	2,22,997	2,49,728	2,53,866
Operating Profit Operating ProfitCr	15,430	16,493	19,591	22,715	24,371	23,315	24,157	26,780	29,209	32,737	36,146	36,272
OPM OPM%	15.3	15.1	16.4	16.8	16.8	17.1	15.4	14.6	13.2	12.8	12.6	12.5
Other Income Other IncomeCr	999	1,466	1,535	2,131	2,361	3,429	2,364	3,065	4,252	4,600	4,038	5,058
Interest Expense Interest ExpenseCr	6,622	6,701	7,558	9,188	10,839	11,604	9,078	9,234	9,261	9,637	9,844	9,928
Depreciation DepreciationCr	1,787	2,370	1,929	1,923	2,462	2,904	2,948	3,502	3,682	4,121	4,365	4,364
PBT PBTCr	8,020	8,887	11,639	13,735	13,431	12,236	14,495	17,109	20,517	23,579	25,976	27,039
Tax TaxCr	2,437	2,007	3,199	4,067	3,263	4,011	4,204	4,484	4,947	5,891	6,816	7,222
PAT PATCr	5,583	6,881	8,440	9,668	10,168	8,225	10,291	12,625	15,570	17,687	19,159	19,817
Growth PAT Growth%	12.5	23.3	22.7	14.6	5.2	-19.1	25.1	22.7	23.3	13.6	8.3	6.7
NPM NPM%	5.5	6.3	7.0	7.2	7.0	6.0	6.6	6.9	7.0	6.9	6.7	6.8
EPS EPS₹	30.3	28.8	52.6	63.5	68.0	82.5	61.7	74.5	94.0	109.4	116.9	120.6

Consolidated

Standalone

Numbers

Percentage

Financial Year	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital Equity CapitalCr	186	187	280	281	281	281	281	281	275	275	275
Reserves ReservesCr	43,841	49,877	55,220	61,941	66,442	75,588	82,127	89,045	86,084	97,381	1,09,015
Current Liabilities Current LiabilitiesCr	85,046	89,525	1,09,273	1,33,802	1,44,729	1,37,408	1,59,441	1,62,066	1,77,109	2,01,971	2,33,531
Non Current Liabilities Non Current LiabilitiesCr	62,607	68,876	74,498	75,344	87,167	85,946	65,253	64,719	60,477	62,150	90,488
Total Liabilities Total LiabilitiesCr	1,94,726	2,12,182	2,45,053	2,78,347	3,08,140	3,11,274	3,20,067	3,30,352	3,40,136	3,79,524	4,52,550
Current Assets Current AssetsCr	1,07,453	1,21,841	1,36,238	1,66,791	1,82,690	1,94,967	2,08,203	2,21,216	2,17,583	2,45,184	2,92,841
Non Current Assets Non Current AssetsCr	87,274	90,340	1,08,815	1,11,556	1,25,450	1,16,307	1,11,864	1,09,137	1,22,553	1,34,340	1,59,709
Total Assets Total AssetsCr	1,94,726	2,12,182	2,45,053	2,78,347	3,08,140	3,11,274	3,20,067	3,30,352	3,40,136	3,79,524	4,52,550

Financial Year	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital Equity CapitalCr	186	187	280	281	281	281	281	281	275	275	275
Reserves ReservesCr	43,841	49,877	55,220	61,941	66,442	75,588	82,127	89,045	86,084	97,381	1,09,015
Current Liabilities Current LiabilitiesCr	85,046	89,525	1,09,273	1,33,802	1,44,729	1,37,408	1,59,441	1,62,066	1,77,109	2,01,971	2,33,531
Non Current Liabilities Non Current LiabilitiesCr	62,607	68,876	74,498	75,344	87,167	85,946	65,253	64,719	60,477	62,150	90,488
Total Liabilities Total LiabilitiesCr	1,94,726	2,12,182	2,45,053	2,78,347	3,08,140	3,11,274	3,20,067	3,30,352	3,40,136	3,79,524	4,52,550
Current Assets Current AssetsCr	1,07,453	1,21,841	1,36,238	1,66,791	1,82,690	1,94,967	2,08,203	2,21,216	2,17,583	2,45,184	2,92,841
Non Current Assets Non Current AssetsCr	87,274	90,340	1,08,815	1,11,556	1,25,450	1,16,307	1,11,864	1,09,137	1,22,553	1,34,340	1,59,709
Total Assets Total AssetsCr	1,94,726	2,12,182	2,45,053	2,78,347	3,08,140	3,11,274	3,20,067	3,30,352	3,40,136	3,79,524	4,52,550

Consolidated

Standalone

Financial Year	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Operating Cash Flow Operating Cash FlowCr	-3,240	6,655	-10,031	-4,756	6,694	23,074	19,164	22,777	18,266	9,151	16,741
Investing Cash Flow Investing Cash FlowCr	-4,627	-9,796	3,915	-11,023	-8,256	-5,659	-3,668	-8,312	2,163	-15,508	-11,739
Financing Cash Flow Financing Cash FlowCr	7,253	2,896	9,370	15,440	6,372	-15,274	-15,181	-11,572	-25,413	6,557	-2,156
Net Cash Flow Net Cash FlowCr	-613	-245	3,254	-338	4,809	2,141	314	2,893	-4,984	200	2,846
Free Cash Flow Free Cash FlowCr	-7,363	3,835	-12,046	-8,255	3,394	22,151	16,124	18,984	14,056	5,611	12,272
CFO To PAT CFO To PAT%	-58.0	96.7	-118.8	-49.2	65.8	280.5	186.2	180.4	117.3	51.7	87.4
CFO To EBITDA CFO To EBITDA%	-21.0	40.4	-51.2	-20.9	27.5	99.0	79.3	85.0	62.5	27.9	46.3

Financial Year	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Operating Cash Flow Operating Cash FlowCr	-3,240	6,655	-10,031	-4,756	6,694	23,074	19,164	22,777	18,266	9,151	16,741
Investing Cash Flow Investing Cash FlowCr	-4,627	-9,796	3,915	-11,023	-8,256	-5,659	-3,668	-8,312	2,163	-15,508	-11,739
Financing Cash Flow Financing Cash FlowCr	7,253	2,896	9,370	15,440	6,372	-15,274	-15,181	-11,572	-25,413	6,557	-2,156
Net Cash Flow Net Cash FlowCr	-613	-245	3,254	-338	4,809	2,141	314	2,893	-4,984	200	2,846
Free Cash Flow Free Cash FlowCr	-7,363	3,835	-12,046	-8,255	3,394	22,151	16,124	18,984	14,056	5,611	12,272
CFO To PAT CFO To PAT%	-58.0	96.7	-118.8	-49.2	65.8	280.5	186.2	180.4	117.3	51.7	87.4
CFO To EBITDA CFO To EBITDA%	-21.0	40.4	-51.2	-20.9	27.5	99.0	79.3	85.0	62.5	27.9	46.3

Consolidated

Standalone

Financial Year	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	Current
Valuation Ratios Valuation Ratios
Market Cap Market CapitalizationCr	1,13,286	1,47,185	1,83,846	1,94,145	1,13,273	1,99,215	2,48,332	3,04,252	5,18,814	4,80,080	4,82,063	5,03,839
Price To Earnings Price To Earnings	26.5	24.4	24.9	21.8	11.9	17.2	28.6	29.1	39.7	31.9	30.0	30.4
Price To Sales Price To Sales	1.1	1.4	1.5	1.4	0.8	1.5	1.6	1.7	2.4	1.9	1.7	1.7
Price To Book Price To Book	2.6	2.9	3.4	3.1	1.7	2.6	3.0	3.4	6.0	4.9	4.4	4.6
EV To EBITDA EV To EBITDA	11.9	13.7	13.7	12.6	8.9	12.7	13.4	14.0	20.2	16.9	15.6	16.6
Profitability Ratios Profitability Ratios
GPM GPM%	35.1	35.0	36.2	35.5	39.3	41.8	39.9	39.7	36.4	35.6	35.0	35.0
OPM OPM%	15.3	15.1	16.4	16.8	16.8	17.1	15.4	14.6	13.2	12.8	12.6	12.5
NPM NPM%	5.5	6.3	7.0	7.2	7.0	6.0	6.6	6.9	7.0	6.9	6.7	6.8
ROCE ROCE%	12.2	11.6	13.0	13.8	13.0	12.7	13.3	14.3	17.2	17.1	16.9	16.9
ROE ROE%	12.7	13.7	15.2	15.5	15.2	10.8	12.5	14.1	18.0	18.1	17.5	17.5
ROA ROA%	2.9	3.2	3.4	3.5	3.3	2.6	3.2	3.8	4.6	4.7	4.2	4.2
Operational Ratios Operational Ratios
Solvency Ratios Solvency Ratios
Liquidity Ratios Liquidity Ratios

Financial Year	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	Current
Valuation Ratios Valuation Ratios
Market Cap Market CapitalizationCr	1,13,286	1,47,185	1,83,846	1,94,145	1,13,273	1,99,215	2,48,332	3,04,252	5,18,814	4,80,080	4,82,063	5,03,839
Price To Earnings Price To Earnings	26.5	24.4	24.9	21.8	11.9	17.2	28.6	29.1	39.7	31.9	30.0	30.4
Price To Sales Price To Sales	1.1	1.4	1.5	1.4	0.8	1.5	1.6	1.7	2.4	1.9	1.7	1.7
Price To Book Price To Book	2.6	2.9	3.4	3.1	1.7	2.6	3.0	3.4	6.0	4.9	4.4	4.6
EV To EBITDA EV To EBITDA	11.9	13.7	13.7	12.6	8.9	12.7	13.4	14.0	20.2	16.9	15.6	16.6
Profitability Ratios Profitability Ratios
GPM GPM%	35.1	35.0	36.2	35.5	39.3	41.8	39.9	39.7	36.4	35.6	35.0	35.0
OPM OPM%	15.3	15.1	16.4	16.8	16.8	17.1	15.4	14.6	13.2	12.8	12.6	12.5
NPM NPM%	5.5	6.3	7.0	7.2	7.0	6.0	6.6	6.9	7.0	6.9	6.7	6.8
ROCE ROCE%	12.2	11.6	13.0	13.8	13.0	12.7	13.3	14.3	17.2	17.1	16.9	16.9
ROE ROE%	12.7	13.7	15.2	15.5	15.2	10.8	12.5	14.1	18.0	18.1	17.5	17.5
ROA ROA%	2.9	3.2	3.4	3.5	3.3	2.6	3.2	3.8	4.6	4.7	4.2	4.2
Operational Ratios Operational Ratios
Solvency Ratios Solvency Ratios
Liquidity Ratios Liquidity Ratios

	LT	RVNL	IRB	CEMPRO	NBCC	HCC	PNCINFRA
Market CapitalizationMkt CapCr	5,03,839	40,554	20,992	20,073	19,899	4,967	3,651
Close PriceClose₹	3,661.90	194.50	17.38	1,168.50	73.70	18.96	142.30
IndustryIndustry	Infra Construction and Contracting	Infra Construction and Contracting	Infra Construction and Contracting	Infra Construction and Contracting	Infra Construction and Contracting	Infra Construction and Contracting	Infra Construction and Contracting
Price To EarningsPE	30.37	45.13	24.48	33.37	26.90	26.33	4.99
Price To SalesPS	1.74	1.95	2.73	1.97	1.56	1.28	0.65
RevenueRevenueCr	2,90,137	20,825	7,686	10,205	12,756	3,872	5,634
Revenue Growth TTMRev Gr TTM%	9.8%	5.4%	-2.2%	8.9%	3.8%	-20.6%	-6.5%
PAT Growth TTMPAT Gr TTM%	6.7%	-24.6%	-85.4%	46.8%	30.8%	0.0%	9.0%

	LT	RVNL	IRB	CEMPRO	NBCC	HCC	PNCINFRA
Market CapitalizationMkt CapCr	5,03,839	40,554	20,992	20,073	19,899	4,967	3,651
Close PriceClose₹	3,661.90	194.50	17.38	1,168.50	73.70	18.96	142.30
IndustryIndustry	Infra Construction and Contracting	Infra Construction and Contracting	Infra Construction and Contracting	Infra Construction and Contracting	Infra Construction and Contracting	Infra Construction and Contracting	Infra Construction and Contracting
Price To EarningsPE	30.37	45.13	24.48	33.37	26.90	26.33	4.99
Price To SalesPS	1.74	1.95	2.73	1.97	1.56	1.28	0.65
RevenueRevenueCr	2,90,137	20,825	7,686	10,205	12,756	3,872	5,634
Revenue Growth TTMRev Gr TTM%	9.8%	5.4%	-2.2%	8.9%	3.8%	-20.6%	-6.5%
PAT Growth TTMPAT Gr TTM%	6.7%	-24.6%	-85.4%	46.8%	30.8%	0.0%	9.0%

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FY2026

Jun 26

Result PPT Transcript Summary

Mar 26