Key Financial Results (Consolidated)

Income Statement Highlights (₹ crore):

  • Revenue from operations: ₹67,942 crore (7% YoY growth from ₹63,679 crore)
  • Other income (net): ₹2,377 crore
  • Total Income: ₹70,318 crore
  • EBITDA: ₹6,116 crore (declined 3% YoY from ₹6,318 crore)
  • EBITDA margin: 9.0% (vs 9.9% in Q1 FY26)
  • Finance costs: ₹539 crore (reduced 31% YoY from ₹782 crore)
  • Depreciation & amortization: ₹1,032 crore
  • Profit before tax: ₹6,922 crore
  • Tax expense: ₹1,939 crore
  • Net profit after tax: ₹4,988 crore
  • PAT attributable to owners: ₹4,123 crore (14% YoY growth from ₹3,617 crore)

Earnings Per Share:

  • Basic EPS: ₹29.97 (vs ₹26.30 in Q1 FY26)
  • Diluted EPS: ₹29.96 (vs ₹26.29 in Q1 FY26)

Standalone Financial Results (₹ crore):

  • Revenue from operations: ₹36,024 crore
  • Profit before tax: ₹5,180 crore
  • Net profit after tax: ₹4,455 crore
  • Basic EPS: ₹32.39

Operational Performance

Order Inflow:

  • Group order inflows: ₹108,014 crore (14% YoY growth)
  • International orders: ₹60,702 crore (56% of total)
  • Order book: ₹778,954 crore (5% growth over March 2026)
  • International order book: 52% of total

Segment-wise Performance (Q1 FY27):

Infrastructure & Utilities:
  • Order inflow: ₹44,357 crore (>100% YoY growth)
  • Customer revenue: ₹21,858 crore (3% YoY decline)
  • EBITDA margin: 5.1% (vs 5.5% YoY)
  • Order book: ₹350,506 crore
Energy - Conventional:
  • Order inflow: ₹3,053 crore (90% YoY decline)
  • Customer revenue: ₹14,239 crore (14% YoY growth)
  • EBITDA margin: 7.6% (vs 7.5% YoY)
  • Order book: ₹221,541 crore
Energy - Green:
  • Order inflow: ₹33,042 crore (58% YoY growth)
  • Customer revenue: ₹5,607 crore (11% YoY decline)
  • EBITDA margin: 6.0% (vs 6.1% YoY)
  • Order book: ₹146,700 crore
Manufacturing & Products:
  • Order inflow: ₹5,535 crore (74% YoY growth)
  • Customer revenue: ₹4,486 crore (9% YoY growth)
  • EBITDA margin: 15.2% (vs 17.5% YoY)
  • Order book: ₹42,476 crore
Technology, Platforms & Services:
  • Customer revenue: ₹14,627 crore (15% YoY growth)
  • EBITDA margin: 19.2% (vs 19.5% YoY)
Financial Services:
  • Income from operations: ₹5,042 crore (27% YoY growth)
  • Loan book: ₹129,634 crore (6% growth from March 2026)
  • Retail loan book: 98% of total
  • Profit before tax: ₹1,236 crore (vs ₹943 crore YoY)
Realty:
  • Order inflow: ₹1,299 crore (32% YoY growth)
  • Customer revenue: ₹1,009 crore (>100% YoY growth)
  • EBITDA margin: 36.9% (vs 48.8% YoY)
  • Order book: ₹17,330 crore
Development Projects:
  • Customer revenue: ₹1,074 crore
  • EBIT: ₹124 crore

Strategic Developments

Merger Approval:

The Board approved a Scheme of Amalgamation for merger of L&T Power Development Limited (wholly-owned subsidiary) with Larsen & Toubro Limited. Key details:

  • Transferor company: L&T Power Development Limited
  • Transferee company: Larsen & Toubro Limited
  • Scheme subject to approval by Mumbai bench of NCLT
  • Upon effectiveness, all shares held by L&T in L&T Power Development will be cancelled
  • No new shares issued or cash consideration paid
  • Rationale: Operational clarity, administrative efficiency, risk management alignment

Divestments Completed:

  • Divestment of entire stake in Nabha Power Limited concluded on June 25, 2026
  • Signed Share Purchase Agreement with Hyderabad Metro Rail Limited (Government of Telangana Enterprise) on April 29, 2026 to divest 100% stake in Hyderabad Metro SPV
  • Conditions precedent expected to be completed by September 30, 2026
  • Assets and liabilities of Hyderabad Metro classified as "Held for Sale"

Segment Realignment:

Effective April 1, 2026, the Group realigned its reporting segments under Lakshya 2031 strategic plan:

  • Infrastructure Projects renamed to Infrastructure & Utilities
  • Energy Projects renamed to Energy - Conventional
  • New Energy - Green segment created (renewables and offshore wind)
  • Hi-Tech Manufacturing renamed to Manufacturing and Products
  • IT & Technology Services renamed to Technology, Platforms & Services
  • Realty business classified as separate reportable segment

Financial Results Submission:

  • Financial results for quarter ended June 30, 2026 comprising 32 pages uploaded on Exchange portal within prescribed timeline
  • Resubmitted on August 6, 2026 as abundant caution due to potential technical glitch affecting machine readability

Applicability Disclosures:

  • Statement of Utilisation of Proceeds and Deviation/Variation not applicable as no funds raised during quarter
  • Disclosure of security cover not applicable as no secured non-convertible debentures outstanding

Corporate Actions

Share Allotment:

  • Allotted 96,988 equity shares of ₹2 each on exercise of stock options by employees

Auditor's Review

Limited Review Report:

  • Statutory Auditors: M S K A & Associates LLP
  • Conducted review in accordance with SRE 2410
  • No material misstatement identified in financial results
  • Includes financial information of 94 subsidiaries, 8 associates, 34 joint ventures, and 34 joint operations

Key Financial Ratios (Consolidated)

  • Debt equity ratio: 0.28
  • Debt service coverage ratio: 10.72
  • Interest service coverage ratio: 11.42
  • Current ratio: 1.25
  • Net profit margin: 7.34%
  • Net worth: ₹106,289 crore

Outlook Commentary

Management commentary highlights:

  • Indian economy navigating global environment with resilience
  • Domestic demand remains healthy across manufacturing and services
  • Geopolitical tensions in West Asia and supply chain disruptions pose risks
  • Inflation expected to trend higher due to food, energy prices, and currency depreciation
  • Company focused on leveraging technology, AI adoption, and digital solutions
  • Committed to efficient execution of order book and judicious capital allocation