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Larsen & Toubro Results: Latest Quarterly Results & Analysis

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Larsen & Toubro Ltd. 29 Jul 2025 18:08 PM
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Q1FY26 Quarterly Result Announced for Larsen & Toubro Ltd.

Construction & Engineering company Larsen & Toubro announced Q1FY26 results

  • The Company achieved consolidated revenues of Rs 63,679 crore for the quarter ended June 30, 2025 registering a YoY growth of 16% with healthy execution witnessed in its key Projects & Manufacturing (P&M) portfolio.
  • International revenues during the quarter were at Rs 32,994 crore which constituted 52% of the total revenues
  • The Company, for the quarter ended June 30, 2025, posted a Consolidated Profit After Tax (PAT) of Rs 3,617 crore, registering a YoY growth of 30%.
  • The consolidated order book of the group as on June 30, 2025, was at Rs 6,12,761 crore, a growth of 6% over Mar’25. The share of international orders is 46%
  • Larsen & Toubro received orders worth Rs 94,453 crore at the Group level during the quarter ended June 30, 2025.
  • International orders stood at Rs 48,675 crore, accounting for 52% of the total order inflow.

S.N. Subrahmanyan, Chairman and Managing Director said: “This quarter we have performed well across all financial parameters. At a Group level, we registered once again, the highest order inflow for Q1 ever. Besides improved performance on all P&L parameters, the return ratios have also moved higher.

The projects and manufacturing businesses of the Company continues to perform well. The record order book of Rs 6 lakh crore is a testimony of our proven expertise in the domains of engineering, construction, manufacturing, and project management.

This being a terminal year of our Lakshya’26 five-year plan, I am pleased to say that so far, our journey in the last four years has been good and we are on track to achieve/surpass the specified targets across all financial parameters.

Further, our new-age businesses like Semiconductor, Data Centers, Green Energy and Digital Platforms have been successfully incubated in the current strategic plan and we expect these businesses to contribute meaningfully over the next 5 years. Besides enabling portfolio level diversification, these businesses reinforce our presence in technology driven sectors and to stay future ready.”

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Construction & Engineering company Larsen & Toubro announced Q4FY25 & FY25 results

Q4FY25 Financial Highlights:

  • The order inflow for Q4FY25 stood at Rs 89,613 crore, registering a strong growth of 24% YoY. International orders at Rs 62,739 crore during the quarter constituted 70% of the total.
  • Consolidated Revenues at Rs 74,392 crore recorded a YoY growth of 11%. The share of international revenues during the quarter was 49%.
  • Consolidated Profit After Tax at Rs 5,497 crore, registered a robust growth of 25% on YoY basis.

FY25 Financial Highlights:

  • Larsen & Toubro won orders of Rs 356,631 crore at the group level during the FY25, registering a sizable YoY growth of 18%.
  • The consolidated order book of the group as on March 31, 2025, is at Rs 579,137 crore registers a growth of 22% over March 2024, with the share of international orders at a healthy 46%.
  • Company achieved Consolidated Revenues of Rs 255,734 crore for the FY25 registering a substantial YoY growth of 16%
  • Consolidated Profit After Tax (PAT) of Rs 15,037 crore, registering a growth of 15% compared to the previous year.
  • The Board of Directors has recommended a final dividend of Rs 34 per equity share, for the approval of shareholders.

S.N. Subrahmanyan, Chairman & Managing Director, said: “The year concluded on a high note, marking yet another period of outstanding performance. We achieved the highest ever yearly order inflows in Company’s history which buoys our order book to a record level. Similarly, the strong revenue growth underpins our journey towards achieving operational excellence through innovation and digitalization.

I am pleased to announce that the Board of Directors has recommended a final dividend of Rs 34 per equity share for the financial year 2024-25.

During the year, the Company has made some strategic investments to strengthen its new age businesses of Semiconductor technologies and Data Centers. Growth in our traditional core business combined with focus on technology driven new age businesses will steer the Company towards its vision to diversify its portfolio and make itself future ready.

Despite the turbulent global geopolitical dynamics, the Indian economic landscape continues to demonstrate resilience and stable growth. Driven by continuing public infrastructure investments and a revival in private investments in areas like Energy Transition, Data Centers and Real Estate, India’s economic growth is expected to continue. Additionally, the government's prudent fiscal policies and efforts to improve domestic demand complimented by RBI’s accomodative monetary policy management to anchor inflation within aceeptable range is expected to improve the momentum and quality of growth.

The Middle East continues its investments in traditional areas like Oil and Gas as well as basic infrastructure, besides earmarking funds for Energy Transition and non-oil industrialization.

We remain cautiously optimistic. Amid this backdrop, the Company will continue to look for opportunities which are aligned with its vision of pursuing profitable and return accretive growth.”

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Construction & Engineering company Larsen & Toubro announced Q3FY25 results

  • Consolidated Profit After Tax (PAT) of Rs 3,359 crore, registering a growth of 14% compared to the Q3FY24.
  • Consolidated Revenues of Rs 64,668 crore for Q3FY24 registering a YoY growth of 17%
  • International revenues during Q3FY25 at Rs 32,764 crore constituted 51% of the total revenues, reflective of improved execution in international P&M portfolio.
  • Company received its highest ever quarterly orders of Rs 116,036 crore at the group level during Q3FY25, registering a substantial YoY growth of 53%.
  • Consolidated order book of the group as on December 31, 2024, is at Rs 564,223 crore registers a growth of 19% over March 2024, with the share of international orders at 42%

S.N. Subrahmanyan, Chairman and Managing Director said: “This quarter has ended on a strong note for us. We have achieved the highest ever quarterly order inflow in the Company’s history, consequently our order book is at a record high. Our commitment to timely execution, operational excellence and a customer centric approach is reflected in our healthy financial performance.

The projects and manufacturing businesses of the Company continue to perform well enabled by the improved productivity pursuant to our sustained digital adoption efforts.

During the quarter, the Company has taken a strategic stake in E2E Networks with an aim to collaborate and unlock the full potential in AI and the digital transformation wave and offer secure cloud services, which aligns with our vision of diversifying the portfolio to leverage the technology needs of tomorrow.

The upcoming Union Budget is expected to emphasize building infrastructure, adoption of technology, improving learning efficacy & skill development and policy continuity towards Energy Transition which will provide necessary impetus to the Indian economy. We expect the Middle East to continue to strengthen its physical and digital infrastructure besides continuing to monetise its Oil & Gas assets. Amid this backdrop, the Company will continue to pursue excellence and leverage its strengths to seize new opportunities while remaining resilient.”

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Construction & Engineering company Larsen & Toubro announced Q2FY25 results

Q2FY25 Financial Highlights:

  • Robust Order Inflow: Rs 80,045 crore.
  • Strong Execution Momentum; Revenue at Rs 61,555 crore 21%.
  • Order Book crosses Rs 5 lakh crore.
  • Consolidated Profit After Tax (PAT) of Rs 3,395 crore, registering a growth of 5% compared to the corresponding quarter of the previous year.
  • International revenues during the quarter at Rs 32,057 crore constituted 52% of the total revenues.

H1FY25 Financial Highlights:

  • Consolidated Revenues at Rs 116,674 crore recorded a YoY growth of 18% with international revenues during the half-year at Rs 58,305 crore constituting 50% of the total revenues.
  • Consolidated Profit After Tax at Rs 6,181 crore, registered a growth of 8% YoY basis.

S.N. Subrahmanyan, Chairman and Managing Director said: “ We have delivered yet another quarter of strong financial performance despite the continuing global macro economic volatility. The projects & manufacturing businesses of the Company continue to perform well. We have a record order book Rs 5 lakh crore that is a testimony of our proven competence in the domains of engineering, construction, manufacturing, and project management.

Our new transformative investments in Green Energy, Data Centers, Digital Platforms and Semiconductor Design will, besides improving our Digital and Sustainability footprint, compliment our current business portfolio as well.

India’s growth story remains intact on the back of continued public capex spends and a visible recovery in private investments as well. We expect the Middle East Capex momentum to remain healthy. The Company remains committed on delivering a sustained performance of growth.”

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Construction & Engineering company Larsen & Toubro announced Q1FY25 results:

  • The company observed a year-over-year (YoY) revenue increase of 15%, with consolidated revenues reaching Rs 55,120 crore for the quarter.
  • Larsen & Toubro reported a noteworthy growth in net profits, achieving a Consolidated Profit After Tax (PAT) of Rs 2,786 crore, reflecting a 12% increase from the previous year.
  • The quarter displayed a positive trend in new orders, with the company securing orders worth Rs 70,936 crore, delivering an 8% YoY growth.
  • Significant sector-wise progress was reported, such as strong execution in Infrastructure Projects leading to a 22% YoY revenue increase and an impressive order book growth of 19%.
  • The international market contributed substantially to both order inflows and revenue, accounting for 46% and 48%, respectively, of the total in these areas.
  • Segments such as Energy Projects and Hi-Tech Manufacturing saw a healthy uptick in order inflows and revenues, with respective YoY growths of 21% and >100% in order value.

Commenting on the results, S.N. Subrahmanyan, Chairman and Managing Director said: “We have achieved steady growth across all financial parameters in Q1FY25, despite the geopolitical situation across the globe. Amidst various transformational shifts happening worldwide, we are well-positioned to grasp these opportunities with our expertise in our traditional P&M business and technology driven new-age businesses. The Financial Services portfolio has achieved a remarkable transformation into Retail Finance with improved profitability. To enhance our presence in the Semiconductor sector, we have recently entered into a share purchase agreement with SiliConch Systems, a Bengaluru based chip design company.

As a testament to our exceptional credit quality and robust financial health, two coveted global credit rating agencies – S&P and Fitch – have assigned ‘BBB ’ rating to the company. This is two notches above the sovereign rating. Further, MSCI ESG Research has upgraded our ESG rating to ‘BBB’ for improved performance on Environment, Social & Governance parameters.

The Union Budget released yesterday presented a detailed roadmap towards pursuit of a Viksit Bharat by 2047. With the expected policy continuation in India, the tailwinds in the Indian economic growth is likely to continue which will facilitate the Group to achieve its Lakshya 26 targets.”

 

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Construction & Engineering company Larsen & Toubro announced Q4FY24 & FY24 results:

Q4FY24 Financial Highlights:

  • Consolidated Revenues: Rs 67,079 crore; a YoY growth of 15%.
  • Share of international revenues: 45%.
  • Profit After Tax (PAT): Rs 4,396 crore; a growth of 10% on a YoY basis.

FY24 Financial Highlights:

  • Consolidated Revenues: Rs 2,21,113 crore; a YoY growth of 21%.
  • International revenues: Rs 95,086 crore; constituting 43% of total revenues.
  • Consolidated Profit After Tax (PAT): Rs 13,059 crore; a robust growth of 25% compared to the previous year, including an exceptional gain of Rs 94 crore from the divestment of stake in L&T IDPL.
  • Recommended final dividend: Rs 28 per equity share for shareholder approval.
  • Orders received: Rs 3,02,812 crore at the group level, with a YoY growth of 31%.
  • International orders: Rs 1,63,112 crore, comprising 54% of the total order inflow.
  • Order inflow for Q4: Rs 72,150 crore; a marginal de-growth of 5% over the corresponding quarter of the previous year.
  • Consolidated order book: Rs 4,75,809 crore as of March 31, 2024, showing a growth of 20% over the previous year, with international orders constituting 38%. 

Commenting on the results, S.N. Subrahmanyan, Chairman and Managing Director said: “The year has concluded on a very strong note for us. We have secured Order Inflows of more than Rs 3 lakh crore and Order Book is around Rs 4.75 lakh crore, reflecting the continued trust reposed on us by all our esteemed clients. During the year, we successfully completed the maiden Buyback of Equity Shares, in line with our aim to improve shareholder value. Furthermore, in addition to the special divided of Rs 6 per share paid to our equity shareholders during the year, we are recommending a final dividend of Rs 28 per share for the FY24.

In line with our Lakshya 2026 plan to divest from non-core businesses, we concluded the sale of our stake in L&T IDPL.

We are confident that our new age businesses such as Green Energy, Semiconductor Chip Design, Digital Platforms and Data Centers will harness the power of technology and compliment the growth of our traditional core businesses in accelerating our strides towards our perspective plan targets.

Recently, some of our marquee projects were inaugurated / completed such as Atal Setu and Coastal Road project in Mumbai. The Company also played its part in the construction of the iconic Ram Mandir at Ayodhya which was consecrated on January 22, 2024. This faith posed by our customers on our capabilities to complete iconic and complex engineering projects in a time-bound manner with highest standards of quality and safety continues.

Despite the ongoing geo-political turmoil globally, the growth story of India continues to power forward and we as a Company are proud to be an integral part of this change. The tailwinds of India’s economic growth will continue due to the impact of structural reforms, strengthening physical and digital infrastructure, improving institutional strength and strong governance.”

 

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Construction & Engineering company Larsen & Toubro announced Q3FY24 & 9MFY24 results:

  • Consolidated revenues for Q3FY24 reached Rs 55,128 crore, marking a substantial YoY growth of 19%.
  • International revenues during the quarter amounted to Rs 24,300 crore, constituting 44% of the total revenue.
  • Consolidated PAT for Q3FY24 stood at Rs 2,947 crore, reflecting a notable YoY growth of 15%.
  • For 9MFY24, consolidated revenues reached Rs 1,54,034 crore, showing a substantial YoY growth of 23%.
  • Consolidated PAT for 9MFY24 registered an impressive growth of 34% on a YoY basis, reaching Rs 8,663 crore.
  • The company secured orders worth Rs 75,990 crore during Q3FY24, demonstrating a robust YoY growth of 25%.
  • Orders were received across various business segments, including the Offshore vertical of Hydrocarbon, Solar EPC & Power Transmission, Water Utilities, Buildings & Factories, and Minerals & Metals sectors.
  • International orders constituted a significant portion, amounting to Rs 50,562 crore, comprising 67% of the total order inflow during Q3FY24.
  • Order inflow for 9MFY24 reached Rs 2,30,662 crore, reflecting an impressive growth of 49% over 9MFY23.
  • International orders during 9MFY24 constituted a substantial portion, totaling Rs 1,37,894 crore, making up 60% of the total order inflow.
  • The consolidated order book stood at Rs 4,69,807 crore as of December 31, 2023, with international orders contributing 39% to the total order book.

Commenting on the results, S.N. Subrahmanyan, Chairman and Managing Director said: “We have registered yet another quarter of strong performance, despite the headwinds from a volatile global environment and consequent supply chain constraints. Our nine-month order inflow has crossed the FY’23 level. This is a testament to our wide capability spectrum, diversified presence, financial strength, and most importantly the faith reposed in us by our customers.

During the quarter ended December 2023, we made a foray into fabless semiconductor chip design. Our bold strides in new-age sectors, including Digital Platforms, Data Centres, and Green Energy will pivot us into a technology–led conglomerate.

Further, we are committed to promoting sustainability by reducing fossil fuel dependence/exposure, tapping renewables opportunities, using recyclable materials, increasing wastewater recycling, integrating ESG into business initiatives, and collaborating with vendors to build a green supply chain.

We are currently witnessing improved Capex spending in both our primary geographies of India and the Middle East. Despite continued global macroeconomic and geopolitical volatility, we remain positive about the investment spending continuing in the medium term.”

 

Result PDF

Construction & Engineering company Larsen & Toubro announced Q2FY24 & H1FY24 results:

  • Consolidated Q2FY24:
    • Revenues for the quarter: Rs 51,024 crore, marking a notable 19% YoY growth. The growth was attributed to improved execution of a substantial order book and accelerated progress in the Projects and Manufacturing portfolio.
    • International revenues during the quarter: Rs 21,898 crore, which accounted for 43% of the total revenue.
    • Profit After Tax (PAT) for the quarter: Rs 3,223 crore, indicating a significant growth of 45% compared to the same quarter of the previous year.
    • New orders received during the quarter: Rs 89,153 crore, a robust growth of 72% YoY. These orders spanned various segments, including Onshore verticals of the Hydrocarbon business, Urban Transit systems, Transmission & Distribution, and Residential & Commercial Space. International orders constituted 67% of the total order inflow.
  • Consolidated H1FY24:
    • Revenues for the half-year: Rs 98,906 crore, reflecting a substantial 26% YoY growth.
    • International revenues during the half-year: Rs 40,921 crore, making up 41% of the total revenue.
    • Profit After Tax (PAT) for the half-year: Rs 5,716 crore, showing a growth of 45% YoY.
    • Cumulative order inflow for the half-year: Rs 1,54,672 crore, a significant increase of 65% over the same period in the previous year.
    • The consolidated order book as of September 30, 2023, stood at Rs 4,50,734 crore, with international orders accounting for 35% of the total.

Commenting on the results, S.N. Subrahmanyan, Chairman and Managing Director said, “Our strong operating and financial performance this quarter exhibits the resilience of the Company’s business model despite the ongoing volatile geo-political situation. All our businesses – Projects, Manufacturing, and Services have grown. During the quarter, we received the highest-ever order inflows in the history of the Company. This shows the faith our customers place in us and is a reflection of our capability to perform and deliver projects on time. The Company now tops the list of international EPC Contractors working in the MENA region regarding value for projects under execution. This is a testament to our capabilities as a diversified conglomerate across various geographies.

The Company has completed the first-ever Buyback of Equity Shares during the quarter, in alignment with our long-term Lakshya 2026 plan to enhance shareholder value.

In the near term, we remain cautiously optimistic, considering the recent geopolitical developments. However, we do expect sustained buoyancy of Services and Indian Government’s thrust on capex to continue.”

 

Result PDF

Construction & Engineering company Larsen & Toubro announced consolidated Q1FY24 results:

  • Revenues of Rs 47,882 crore for Q1FY24 recording a YoY growth of 34%, primarily aided by execution of a healthy opening order book in its projects and manufacturing portfolio.
  • International revenues during the quarter at Rs 19,022 crore constituted 40% of the total revenue.
  • Company, for Q1FY24, posted a total Profit After Tax (PAT) of Rs 2,493 crore, registering a high growth of 46% compared to Q1FY24.
  • Company received orders worth Rs 65,520 crore at the group level during Q1FY24, registering YoY growth of 57%
  • International orders at Rs 27,646 crore during Q1FY24 comprised 42% of the total order inflow
  • Order book of the group is at Rs 4,12,648 crore as on June 30, 2023, with international orders having a share of 29%.
  • The board of directors has approved a proposal to buy back through the tender offer route equity shares of the Company for an aggregate amount not exceeding Rs 10,000 crore (excluding tax on buy-back).
  • Board of directors has also approved a special dividend of Rs 6 per equity share.

 

 

Result PDF

Construction & engineering company Larsen & Toubro announced Q4FY23 & FY23 results:

  • Consolidated Q4FY23:
    • Revenues at Rs 58,335 crore recorded a YoY growth of 10%
    • The share of international revenue during Q4FY23 was 39%
    • PAT at Rs 3,987 crore, registered a growth of 10% YoY basis
    • The order inflow for Q4FY23 stood at Rs 76,099 crore, registering a growth of 3% over Q4FY22
    • International orders at Rs 36,046 crore constituted 47% of the total
  • Consolidated FY23:
    • Revenues of Rs 1,83,341 crore for FY23, recording a healthy YoY growth of 17%
    • International revenues during FY23 at Rs 68,787 crore constituted 38% of the total revenue
    • Profit after tax (PAT) of Rs 10,471 crore, registering a robust growth of 21% compared to FY22
    • The company received orders worth Rs 2,30,528 crore at the group level during FY23, a growth of 19%
    • International orders at Rs 86,523 crore during FY23 comprised 38% of the total order inflow
    • The order book of the group is at Rs 3,99,526 crore as on March 31, 2023, with international orders having a share of 28%
    • The order book of Rs 3,99,526 crore represents a growth of 12% over Rs 3,57,595 crore as on March 31, 2022
  • The board of directors has recommended a final dividend of Rs 24 per equity share, for the approval of shareholders

 

 

Result PDF

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