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Larsen and Toubro Ltd

LT

Larsen and Toubro Ltd

LT
IndustrialsConstruction & Engineering
LargecapWith a market cap of ₹5,12,934 cr, stock is ranked 11
Moderate RiskStock is 2.00x as volatile as Nifty
3,684.601.23% (-45.85)
3,684.601.23% (-45.85)

Price Chart

High
Low
Returns
1D
1W
1M
1Y
5Y
Max
SIP
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1D
1W
1M
1Y
5Y
Max
SIP
IndustrialsConstruction & Engineering
LargecapWith a market cap of ₹5,12,934 cr, stock is ranked 11
Moderate RiskStock is 2.00x as volatile as Nifty
Scorecard

Performance

Low

Hasn't fared well - amongst the low performers

Valuation

High

Seems to be overvalued vs the market average

Growth

Low

Lagging behind the market in financials growth

Profitability

High

Showing good signs of profitability & efficiency

Entry point

Avg

The stock is overpriced but is not in the overbought zone

Red flags

Low

No red flag found

How to use scorecard? Learn more

IndustrialsConstruction & Engineering
LargecapWith a market cap of ₹5,12,934 cr, stock is ranked 11
Moderate RiskStock is 2.00x as volatile as Nifty

Key Metrics

No LabelNo LabelPB RatioPB RatioDividend YieldDiv. Yield
38.425.000.91%
Sector PESector PESector PBSector PBSector Div YldSctr Div Yld
51.987.230.45%

Forecast & Ratings

Detailed Forecast 
88%
Analysts have suggested that investors can buy this stock

from 33 analysts

Price

Price Upside

Earnings

Earnings Growth

Revenue

Rev. Growth

See Detailed Forecast

Company Profile

Larsen & Toubro Limited is a technology, engineering, construction, manufacturing and financial services company.

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Forecasts

Price

Revenue

Earnings

Income

Balance Sheet

Cash Flow

Income Statement

Industry refers to the sub-sector this company belongs to.

Higher than Industry Revenue Growth

A higher-than-industry revenue growth represents increased potential for the company to increase their market share

Over the last 5 years, revenue has grown at a yearly rate of 10.32%, vs industry avg of 8.78%

Increasing Market Share

Market share is the percentage of an industry's total sales going to a particular company. It gives a general idea of the size of a company v/s its competitors

Over the last 5 years, market share increased from 45.27% to 48.96%

Lower than Industry Net Income

Net income is equal to net earnings (profit) less expenses. This number is an important measure of how profitable the company is

Over the last 5 years, net income has grown at a yearly rate of 7.96%, vs industry avg of 26.08%

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Financial YearFY 2016FY 2017FY 2018FY 2019FY 2020FY 2021FY 2022FY 2023FY 2024TTM
Total Revenue1,02,121.051,11,058.351,21,442.841,37,920.901,48,467.831,47,646.301,58,885.241,86,946.182,25,385.382,32,397.91
Raw Materialssubtract35,320.1936,648.5440,876.2446,889.8746,705.8741,333.8651,676.5563,285.3275,319.991,98,433.31
Power & Fuel Costsubtract1,243.451,423.191,399.622,205.602,079.841,581.332,267.262,655.762,526.75
Employee Costsubtract13,330.8413,853.9715,270.7917,466.4023,114.0024,750.5429,695.7937,214.1141,171.02
Selling & Administrative Expensessubtract5,157.514,276.794,583.275,083.675,266.743,047.153,581.204,658.985,133.74
Operating & Other expensessubtract30,364.0336,769.9137,736.6540,708.9343,732.8145,361.9344,986.5449,075.2967,522.27
Depreciation/Amortizationsubtract1,786.732,369.932,223.481,923.032,462.272,904.212,947.953,502.253,682.333,849.76
Interest & Other Itemssubtract6,898.686,828.667,713.639,338.7311,020.7811,749.589,234.989,445.449,512.179,253.45
Taxes & Other Itemssubtract3,738.942,846.134,269.305,399.544,536.495,334.775,825.646,638.317,458.007,509.56
EPS30.6743.2052.6363.5268.0582.4961.7174.5193.9597.13
DPS12.179.3316.0018.0018.0036.0022.0024.0034.0058.00
Payout ratio0.400.220.300.280.260.440.360.320.360.60

Company Updates

Annual Report and Investor Presentation updates mentioned here are as reported by the company to the exchange
FY 2019

Annual Report Unavailable

Investor Presentation

May 11PDF
FY 2020

Annual Report Unavailable

Investor Presentation

Jun 17PDF
Jan 29PDF
Oct 30PDF
Jul 31PDF
FY 2021

Annual report

PDF

Investor Presentation

Feb 2PDF
Nov 24PDF
Nov 4PDF
Jul 24PDF
FY 2022

Annual report

PDF

Investor Presentation

Sep 6PDF
 

Peers & Comparison

Comparing 3 stocks from 
IndustrialsConstruction & Engineering

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StockPE RatioPE RatioPB RatioPB RatioDiv. YieldDividend Yield
Larsen and Toubro Ltd39.285.000.91%
GMR Airports Ltd-177.57-116.66
IRB Infrastructure Developers Ltd60.552.670.79%
NBCC (India) Ltd78.5313.07

Price Comparison

Compare LT with any stock or ETF
Compare LT with any stock or ETF
LT
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Shareholdings

Promoter Holdings Trend

Total Promoter Holding

Increasing promoter holding is considered good and reflects management’s positive view about the future outlook

In last 6 months, promoter holding in the company has almost stayed constant

Low Pledged Promoter Holding

Lower pledged promoter holdings is considered better

Pledged promoter holdings is insignificant

Institutional Holdings Trend

Total Retail Holding

Increasing retail holding can be considered bad as it can reflect that institutions and promoters are selling their stake which is being absorbed by retail investors.

In last 3 months, retail holding in the company has almost stayed constant

Decreased Foreign Institutional Holding

Foreign Institutional Holding is quantum of stock held by foreign large-quantities-trading entities. Increasing value indicates growing support and comfort for the stock

In last 3 months, foreign institutional holding of the company has decreased by 1.51%

Tickertape Separator

Shareholding Pattern

Retail and OthersForeign InstitutionsOther Domestic InstitutionsMutual FundsTotal Promoter Holding0.00%18.13%20.89%22.85%38.12%

Sep 2023

Dec 2023

Mar 2024

Jun 2024

Shareholding History

MarJunSepDec '23MarJun24.48%25.30%25.71%25.16%24.36%22.85%

Mutual Funds Holding Trend

Mutual Fund Holding

Increasing Mutual Fund holdings are generally considered good, as it reflects that fund managers are becoming more bullish about the stock

In last 3 months, mutual fund holding of the company has almost stayed constant

Top 5 Mutual Funds holding Larsen and Toubro Ltd




Funds (Top 5)Market-cap heldWeight3M holding changePortfolio rank
(3M change)
ICICI Prudential Bluechip Fund - Growth - Direct Plan

Growth
0.7761%6.14%-0.01%4/82 (0)
HDFC Top 100 Fund - Growth - Direct Plan

Growth
0.4246%5.71%0.07%4/50 (+1)
ICICI Prudential Balanced Advantage Fund - Growth - Direct Plan

Growth
0.3305%2.75%0.18%5/219 (+1)

Compare 3-month MF holding change on Screener

Insider Trades & Bulk Deals

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smallcases

A smallcase is a basket of stocks/ETFs that represents an idea or theme.Diversify your risk and buy smallcases that have Larsen and Toubro Ltd

Events

Dividend Trend

No Trend In Dividends

Dividends are the portion of earnings that a company distributes to all its shareholders every year

LT has shown inconsistent dividend trend over the last 5 years

Dividend Yield

Dividend return is one of the most important things to be considered while investing for long term. It is the additional return on top of what investors earn through price appreciation

Current dividend yield is 0.91%. An investment of ₹1,000 in the stock is expected to generate dividend of ₹9.11 every year

Dividends

Corp. Actions

Announcements

Legal Orders

Upcoming Dividends

No upcoming dividends are available

Past Dividends

Cash Dividend

Ex DateEx DateJun 20, 2024

Final
Final | Div/Share: ₹28.00

Dividend/Share

28.00

Ex DateEx Date

Jun 20, 2024

Cash Dividend

Ex DateEx DateAug 2, 2023

Final
Final | Div/Share: ₹24.00

Dividend/Share

24.00

Ex DateEx Date

Aug 2, 2023

Cash Dividend

Ex DateEx DateAug 2, 2023

Special
Special | Div/Share: ₹6.00

Dividend/Share

6.00

Ex DateEx Date

Aug 2, 2023

Cash Dividend

Ex DateEx DateJul 21, 2022

Final
Final | Div/Share: ₹22.00

Dividend/Share

22.00

Ex DateEx Date

Jul 21, 2022

Cash Dividend

Ex DateEx DateJul 28, 2021

Final
Final | Div/Share: ₹18.00

Dividend/Share

18.00

Ex DateEx Date

Jul 28, 2021

News & Opinions
Spotlight
L&T carves renewable EPC biz into separate vertical

Larsen & Toubro (L&T) said, 'Clean energy transition has accelerated in recent years with decarbonized electricity being central to the fight against climate change. The rapid technology development in renewable generation has facilitated this trend. Renewable penetration, particularly in solar and wind generation, is set to grow in the global mix.' There is a strong momentum in India's pursuit of promoting renewable energy especially towards increasing the share of non-fossil fuels-based electricity. India sees green jobs and renewable growth as important aspects of achieving the visionary Viksit Bharat and equitable climate justice for the world. Renewable Energy Implementing Agencies have chalked out clear capacity addition trajectories and several schemes including Green Energy Corridors are being implemented, it added. The Middle East region is ideal for solar generation due to high solar irradiance, abundant land availability and alignment of solar generation with peak cooling demand and freeing up of fossil fuel for exports. In addition to these core markets, there are significant investments materializing in the adjacent regions such as in the SAARC, ASEAN, CIS and the African countries, the company stated in the press release. L&T has constructed some renewable energy projects in India including the 90MW Omkareshwar floating solar project commissioned recently. India's first grid scale solar cum storage project, implementation of decentralized distributed generation packages for remote villages are some of the noteworthy achievements. In this backdrop, to enhance management visibility and to ensure seamless integration of resources and capabilities, L&T has created the Renewable EPC business, an addition to its construction verticals. S.N.Subrahmanyan, chairman & managing director, Larsen & Toubro said, 'The growth of renewable EPC business has accelerated in recent years. Thanks to our early start and investments, we have built an organization that is uniquely placed in the value chain of creating sustainable energy infrastructure. Multiple opportunities are visible. We want to capitalize on our success and wish to remain a preferred partner of choice for our customers. Creation of this vertical will give increased autonomy, customer proximity and leadership oversight to the business and enable us to excel in this space.' Larsen & Toubro (L&T) is an Indian multinational engaged in EPC Projects, hi-tech manufacturing and services. It operates in over 50 countries worldwide. A strong, customer'focused approach and the constant quest for top-class quality have enabled L&T to attain and sustain leadership in its major lines of business for eight decades. The EPC major's consolidated net profit rose 11.74% to Rs 2,785.72 crore on 15.12% increase in revenue from operations to Rs 55,119.82 crore in Q1 FY25 over Q1 FY24. Shares of Larsen & Toubro shed 0.81% to Rs 3,673.05 on the BSE. Powered by Capital Market - Live

2 weeks agoCapital Market - Live
Corporate
Larsen & Toubro creates new vertical of Renewable EPC business

Effective 1 September 2024, Larsen & Toubro has carved out a separate business vertical for Renewable EPC out of its Power Transmission & Distribution business, within its Infrastructure Projects segment. Commenting on the development S.N.Subrahmanyan, Chairman & Managing Director - Larsen & Toubro said: 'The growth of renewable EPC business has accelerated in recent years. Thanks to our early start and investments, we have built an organization that is uniquely placed in the value chain of creating sustainable energy infrastructure. This space is promising. Multiple opportunities are visible. We want to capitalize on our success and wish to remain a preferred partner of choice for our customers. Creation of this vertical will give increased autonomy, customer proximity and leadership oversight to the business and enable us to excel in this space.'  Powered by Capital Market - Live

2 weeks agoCapital Market - Live
Market Overview
Sensex breaches 80k; Nifty above 24,750; VIX drops 3.52%

The domestic equity benchmarks ended with minor gains on Wednesday. The Nifty closed above the 24,750 mark after hitting the day's low of 24,654.50 in early trade. Consumer durables, FMCG and media shares advanced while realty, PSU bank and bank shares declined. As per provisional closing, the barometer index, the S&P BSE Sensex, gained 102.44 points or 0.13% to 80,905.30. The Nifty 50 index added 71.35 points or 0.29% to 24,770.20. The broader market outperformed the frontline indices. The S&P BSE Mid-Cap index added 0.43% and the S&P BSE Small-Cap index rose 0.87%. The market breadth was strong. On the BSE, 2,611 shares rose and 1,340 shares fell. A total of 87 shares were unchanged. The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, tumbled 3.52% to 13.33. IPO Update : The initial public offer (IPO) of Orient Technologies received 3,91,69,656 bids for shares as against 74,49,846 shares on offer, according to stock exchange data at 15:25 IST on Wednesday (21 August 2024). The issue was subscribed 5.26 times. The issue opened for bidding on Wednesday (21 August 2024) and it will close on Friday (23 August 2024). The price band of the IPO is fixed between Rs 195 to Rs 206 per share. An investor can bid for a minimum of 72 equity shares and in multiples thereof. The initial public offer (IPO) of Interarch Building Products received 37,11,59,104 bids for shares as against 46,91,585 shares on offer, according to stock exchange data at 15:25 IST on Wednesday (21 August 2024). The issue was subscribed 79.11 times. The issue opened for bidding on Monday (19 August 2024) and it will close on Wednesday (21 August 2024). The price band of the IPO is fixed between Rs 850 to Rs 900 per share. An investor can bid for a minimum of 16 equity shares and in multiples thereof. Buzzing Index: The Nifty Consumer Durables index added 1.47% to 40,671.15. The index rallied 6.43% in eight consecutive trading sessions. Crompton Greaves Consumer Electricals (up 3.19%), Titan Company (up 2.45%), Havells India (up 1.65%), Voltas (up 1.21%), Cera Sanitaryware (up 1.13%), Dixon Technologies (India) (up 0.42%), V-Guard Industries (up 0.4%), Whirlpool of India (up 0.15%), Kajaria Ceramics (up 0.15%) and Bata India (up 0.1%) edged higher. On the other hand, Amber Enterprises India (down 1.4%), Blue Star (down 0.15%) and Rajesh Exports (down 0.03%) declined. Stocks in Spotlight: Larsen & Toubro rose 0.59%. The EPC major announced that it has secured a large order for its Transportation Infrastructure Business for the integrated infrastructure development project in Navi Mumbai. Meanwhile, the company informed that the Bombay High Court has quashed and set aside the show-cause notice and Rs 2,237-crore demand issued by the GST authorities. Hindustan Zinc shed 0.35%. The company announced that it has received a GST demand notice amounting to Rs 26.12 crore from the Office of the Commissioner of Central Excise & CGST Commissionerate. Exide Industries advanced 2.31% after the company said that it has invested Rs 74.99 crore in its wholly owned subsidiary, Exide Energy Solutions (EESL) by way of subscription to share capital on right basis. Oriental Rail Infrastructure was locked in 5% upper circuit after the company reported consolidated net profit of Rs 4.37 crore in Q1 FY25 as compared with net loss of Rs 8.01 crore posted in Q1 FY24. Revenue from operations was at Rs 172.03 crore in first quarter of FY25, registering a growth of 42.91% as against Rs 120.37 crore posted a year ago. Genus Power Infrastructures was locked in 5% upper circuit after the company's subsidiary secured three letters of award (LoAs) worth Rs 3,608.52 crore. RMC switchgears was locked in 5% upper circuit after the company's subsidiary, RMC Green Energy secured approval from the Rajasthan Renewable Energy Corporation to establish a 50 megawatt (MW) renewable energy park in Rajasthan. Indoco Remedies gained 4.84% after the firm received final approval from the US Food and Drug administration (USFDA) for its abbreviated new drug application (ANDA) for Lofexidine Tablets. Lofexidine Tablets is indicated for mitigation of symptoms associated with acute withdrawal from opioids and for facilitation of the completion of opioid discontinuation treatment. Global Markets: European stocks advanced while most Asian stocks ended mixed on Wednesday, tracking a pullback on Wall Street and reflecting investor caution ahead of a key speech by Federal Reserve Chair Jerome Powell later this week. The weakness in the U.S. market, where the Dow Jones Industrial Average closed down 0.15%, the S&P 500 fell 0.2%, and the Nasdaq Composite dropped 0.33%, spilled over into Asia. Japan's Nikkei index likely mirrored this cautiousness, as data revealed a smaller-than-expected export growth and a surge in imports, resulting in a trade deficit for July. Hong Kong's Hang Seng index was further pressured by a significant decline in e-commerce giant JD.com's stock price. News reports suggesting Walmart's planned sale of its stake in JD.com for $3.74 billion contributed to the 11% drop in JD stock. Powered by Capital Market - Live

4 weeks agoCapital Market - Live
Live Market Update
Nifty hovers above 24,700; European mkt opens higher

The headline equity benchmarks continued to trade near the flat line in afternoon trade. The Nifty traded above the 24,700 level after hitting the day's low of 24,654.50 in early trade. Media, consumer durables and FMCG shares advanced while realty, PSU bank and bank shares declined. At 13:30 IST, the barometer index, the S&P BSE Sensex, declined 122.18 points or 0.15% to 80,677.13. The Nifty 50 index added 6.15 points or 0.02% to 24,705. The broader market outperformed the frontline indices. The S&P BSE Mid-Cap index added 0.10% and the S&P BSE Small-Cap index rose 0.67%. The market breadth was strong. On the BSE, 2,432 shares rose and 1,395 shares fell. A total of 125 shares were unchanged. Gainers & Losers: Divi's Laboratories (up 3.29%), Titan Company (up 2.65%), HDFC Life Insurance Company (up 2.15%), Hindalco Industries (up 2.14%) and SBI Life Insurance Company (up 1.88%) were major Nifty gainers. UltraTech Cement (down 1.33%), HDFC Bank (down 1.16%), Tata Steel (down 1.10%), State Bank of India (down 1.01%) and ICICI Bank (down 0.95%) were major Nifty losers. Stocks in Spotlight: Larsen & Toubro rose 0.83%. The EPC major announced that it has secured a large order for its Transportation Infrastructure Business for the integrated infrastructure development project in Navi Mumbai. Meanwhile, the company informed that the Bombay High Court has quashed and set aside the show-cause notice and Rs 2,237-crore demand issued by the GST authorities. Hindustan Zinc shed 0.08%. The company announced that it has received a GST demand notice amounting to Rs 26.12 crore from the Office of the Commissioner of Central Excise & CGST Commissionerate. Oriental Rail Infrastructure was locked in 5% upper circuit after the company reported consolidated net profit of Rs 4.37 crore in Q1 FY25 as compared with net loss of Rs 8.01 crore posted in Q1 FY24. Revenue from operations was at Rs 172.03 crore in first quarter of FY25, registering a growth of 42.91% as against Rs 120.37 crore posted a year ago. Genus Power Infrastructures was locked in 5% upper circuit after the company's subsidiary secured three letters of award (LoAs) worth Rs 3,608.52 crore. RMC switchgears hit an upper circuit of 5% after the company's subsidiary, RMC Green Energy secured approval from the Rajasthan Renewable Energy Corporation to establish a 50 megawatt (MW) renewable energy park in Rajasthan. Exide Industries advanced 1.73% after the company said that it has invested Rs 74.99 crore in its wholly owned subsidiary, Exide Energy Solutions (EESL) by way of subscription to share capital on right basis. Global Markets: European shares advanced while Asian stocks traded mixed on Wednesday, tracking a pullback on Wall Street and reflecting investor caution ahead of a key speech by Federal Reserve Chair Jerome Powell later this week. The weakness in the U.S. market, where the Dow Jones Industrial Average closed down 0.15%, the S&P 500 fell 0.2%, and the Nasdaq Composite dropped 0.33%, spilled over into Asia. Japan's Nikkei index likely mirrored this cautiousness, as data revealed a smaller-than-expected export growth and a surge in imports, resulting in a trade deficit for July. Hong Kong's Hang Seng index was further pressured by a significant decline in e-commerce giant JD.com's stock price. News reports suggesting Walmart's planned sale of its stake in JD.com for $3.74 billion contributed to the 11% drop in JD stock. Powered by Capital Market - Live

4 weeks agoCapital Market - Live
Live Market Update
Barometers trade sideways; consumer durables shares surge for 8th day

The key equity indices traded sideways in early afternoon trade. The Nifty traded above the 24,700 level after hitting day's low of 24,654.50 in early trade. Consumer Durables shares witnessed buying demand for the eighth consecutive trading session. At 12:30 IST, the barometer index, the S&P BSE Sensex, shed 15.10 points or 0.02% to 80,791.24. The Nifty 50 index added 30.20 points or 0.12% to 24,729.05. The broader market outperformed the frontline indices. The S&P BSE Mid-Cap index added 0.30% and the S&P BSE Small-Cap index rose 0.80%. The market breadth was strong. On the BSE, 2,493 shares rose and 1,269 shares fell. A total of 126 shares were unchanged. Derivatives: The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, declined 1.70% to 13.59. The Nifty 29 August 2024 futures were trading at 24,760, at a premium of 30.95 points as compared with the spot at 24,729.05. The Nifty option chain for the 29 August 2024 expiry showed maximum Call OI of 42.4 lakh contracts at the 25,000 strike price. Maximum Put OI of 44.8 lakh contracts were seen at 24,500 strike price. Buzzing Index: The Nifty Consumer Durables index gained 1.25% to 40,511.95. The index rallied 6.43% in eight consecutive trading sessions. Crompton Greaves Consumer Electricals (up 2.82%), Titan Company (up 2.31%), Cera Sanitaryware (up 0.85%), Whirlpool of India (up 0.77%), Rajesh Exports (up 0.73%), Voltas (up 0.65%), Dixon Technologies (India) (up 0.56%), V-Guard Industries (up 0.41%), Havells India (up 0.2%) and Kajaria Ceramics (up 0.17%) advanced. On the other hand, Amber Enterprises India (down 1.29%), Blue Star (down 0.89%) and Kalyan Jewellers India (down 0.68%) edged lower. Stocks in Spotlight : Larsen & Toubro rose 0.86%. The EPC major announced that it has secured a large order for its Transportation Infrastructure Business for the integrated infrastructure development project in Navi Mumbai. RateGain Travel Technologies added 0.59%. The company said that it has been selected by Thai International Public Company (Thai Airways) for a multi-year partnership with the company's dedicated platform for Airlines, AirGain. Hindustan Zinc rose 0.24%, The company announced that it has received a GST demand notice amounting to Rs 26.12 crore from the Office of the Commissioner of Central Excise & CGST Commissionerate.Powered by Capital Market - Live

4 weeks agoCapital Market - Live
Corporate
Larsen & Toubro wins order from CIDCO

The Transportation Infrastructure vertical of L&T has secured an order for Integrated Infrastructure Development project in Town Planning Schemes 2 to 7 under the Navi Mumbai Airport Influence Notified Area (NAINA) Project in Maharashtra. According to the company's project classification, the order is valued between Rs 2,500 crore to Rs 5,000 crore. The project has been awarded by City and Industrial Development Corporation Limited (CIDCO) for integrated infrastructure development of 60m & 45m wide roads, construction of various major & minor structures and allied electrical works. The project will have 4 approach roads of 13.28 Km having major structures (09 Nos) including 3 Iconic steel bridges over Kalundre river and Mumbai-Pune Expressway, minor bridges (12 Nos), underpasses (27 Nos) and approaches to structures. The project also involves the construction of utility works and allied electrical works.Powered by Capital Market - Live

4 weeks agoCapital Market - Live
Spotlight
L&T bags 'large' order for Transportation Infrastructure biz

As per Larsen & Toubro's (L&T) classification, the value of the 'large' contract lies between Rs 2,500 crore and Rs 5,000 crore. The order involves integrated infrastructure development project in Town Planning Schemes 2 to 7 under the Navi Mumbai Airport Influence Notified Area (NAINA) project in Maharashtra. The project has been awarded by City and Industrial Development Corporation (CIDCO) for integrated infrastructure development of 60m & 45m wide roads, construction of various major & minor structures and allied electrical works. The project will have 4 approach roads of 13.28 km having major structures (09 Nos) including 3 steel bridges over Kalundre river and Mumbai-Pune Expressway, minor bridges (12 Nos), underpasses (27 Nos) and approaches to structures. The project also involves the construction of utility works and allied electrical works, it added. Meanwhile, L&T informed that the Bombay High Court has quashed and set aside the show-cause notice and Rs 2,237-crore demand issued by the GST authorities. 'The company had filed a Writ Petition in the Bombay High Court against the show cause notice issued by the Principal Commissioner of GST and Service Tax, Mumbai towards Service tax demand of Rs 2,237 crore, on an erstwhile subsidiary, in respect of Tax already paid by the Company with respect to certain transactions undertaken post demerger,' L&T stated in the press release. Larsen & Toubro (L&T) is an Indian multinational engaged in EPC Projects, hi-tech manufacturing and services. It operates in over 50 countries worldwide. A strong, customer'focused approach and the constant quest for top-class quality have enabled L&T to attain and sustain leadership in its major lines of business for eight decades. The EPC major's consolidated net profit rose 11.74% to Rs 2,785.72 crore on 15.12% increase in revenue from operations to Rs 55,119.82 crore in Q1 FY25 over Q1 FY24. Shares of Larsen & Toubro rose 0.74% to Rs 3,600.65 on the BSE. Powered by Capital Market - Live

4 weeks agoCapital Market - Live
Corporate
Larsen & Toubro International FZE to acquire further 15% stake in L&T Oman

Larsen & Toubro International FZE (LTIFZE), a wholly owned step-down subsidiary of the Company, has entered into a Share Purchase Agreement with The Wave Development SPC (Wave) on 14 August 2024, for purchase of additional 15% stake in Larsen & Toubro (Oman) LLC (L&T Oman), an existing Joint Venture between LTIFZE and Wave. Post completion of the acquisition, LTIFZE shall hold 80% equity stake in L&T Oman.Powered by Capital Market - Live

1 month agoCapital Market - Live

Raging Bull Returns After Bloodbath; Sensex Regains Over 900 Points, Nifty Gains Over 1%

1 month agoFree Press Journal

Mumbai Coastal Road Project Update: BMC Receives 181-Day Extension Request From L&T, Completion Delayed To 2025

1 month agoFree Press Journal