Larsen and Toubro Ltd

The key equity indices trade with moderate losses amid profit booking and mixed cues from global markets as cautious investor sentiment overshadowed optimism over the conclusion of the India'EU free trade agreement (FTA) and positive economic data. Participants are keeping a close watch on the rupee's movement, ongoing Q3 corporate earnings, and evolving geopolitical developments. Investors are also awaiting quarterly results from ITC, Tata Motors, and Vedanta, due later today, along with the upcoming Union Budget 2026 scheduled for February 1, 2026. Meanwhile, the Nifty traded below the 25,300 level. Consumer durables shares declined after advancing in the past trading session. At 11:25 IST, the barometer index, the S&P BSE Sensex declined 238.75 points or 0.29% to 82,108.31. The Nifty 50 index fell 74.70 points or 0.30% to 25,267.90. The broader market underperformed the frontline indices. The S&P BSE Mid-Cap index declined 0.42% and the S&P BSE Small-Cap index fell 0.71%. The market breadth was weak. On the BSE, 1,425 shares rose and 2,478 shares fell. A total of 185 shares were unchanged. The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, added 1.09% to 13.67. Economy: India's industrial production rose to a 26-month high of 7.8% in December, up from 7.2% in November, according to data released by the government on January 28. The sharp pickup was driven by a broad-based acceleration across manufacturing, capital goods and infrastructure-linked segments, signalling resilient momentum at the end of the calendar year. Buzzing Index: The Nifty Consumer Durables index declined 1.74% to 33,575.45. The index advanced 0.64% in the past trading session. Titan Company (down 2.54%), Centruyply (down 2.28%), Amber Enterprises (down 2.15%), Voltas(down 2.03%), PG Electroplast (down 1.40%), Crompton Greaves Consumer Electricals (down 1.55%) declined. Stocks in Spotlight: Larsen & Toubro added 3.54% after the company reported a 17.78% jump in standalone net profit to Rs 2,832.08 crore on 8.34% increase in revenue from operations to Rs 37,902.84 crore in Q3 FY26 over Q3 FY25. Sagility fell 2.79%. The company reported a 23.4% increase in consolidated net profit to Rs 267.66 crore on a 35.7% rise in revenue from operations to Rs 1,971.15 crore in Q3 FY26 over Q3 FY25. Global Markets: Asia market mostly traded lower on Thursday after the U.S. Federal Reserve overnight kept its benchmark rate steady at a target range of 3.5% to 3.75%. Investors will be keeping an eye on developments in Indonesia after the benchmark Jakarta Composite plunged over 8% on Wednesday after index provider MSCI had issued a statement warning of a potential downgrade of the country to frontier-market status. Meanwhile, Singapore's central bank left its monetary policy unchanged Thursday, while warning of upside risks to inflation and demand as the city-state's economic outlook stays resilient. The country's benchmark Straits Times Index inched 0.19% higher. Overnight in the U.S., the S&P 500 reached a milestone level, hitting 7,000 for the first time, before pulling back as the Federal Reserve left interest rates unchanged and upped its economic growth assessment. The broad market index ended the day down 0.01% at 6,978.03. Earlier, the S&P 500 was up 0.3% on the day, hitting an all-time intraday high of 7,002.28. The Dow Jones Industrial Average added 0.02% to close at 49,015.60. The Nasdaq Composite outperformed and gained 0.17%, settling at 23,857.45.Powered by Capital Market - Live

On a consolidated basis, the company's net profit declined 4.27% year-on-year to Rs 3,215.11 crore in Q3 FY26, even as revenue from operations rose 10.48% to Rs 71,449.70 crore in Q3 FY26, compared with Rs 64,667.78 Q3 FY25. The company's consolidated PAT for the quarter includes a one-time Rs 1,191-crore provision (net of tax and non-controlling interest) for employee benefits under the new labour codes, classified as an exceptional item. The company's revenue growth was driven by consistent execution across the company's Projects & Manufacturing (P&M) businesses. Profit before tax (PBT) jumped 34.27% YoY to Rs 7,160.98 crore in Q3 December 2025. EBITDA stood at Rs 7,417 crore in Q3 FY26, registering the growth of 19% compared with Rs 6,255 crore in Q3 FY25. EBITDA margin stood at 10.4% in Q3 FY26 as against 9.7% in Q3 FY25. Larsen & Toubro (L&T) secured orders worth Rs 1,35,581 crore in Q3 FY26, up 17% year-on-year. The order inflow spanned multiple geographies and sectors, including Thermal Power, Hydrocarbons, Renewable Infrastructure, Transmission & Distribution, and Roads & Runways. International orders accounted for Rs 66,848 crore, contributing 49% of the total inflow. As of 31 December 2025, the Group's consolidated order book reached Rs 7,33,161 crore, up 30% from December 2024, with international orders contributing 49% of the total. In Q3 FY26, Larsen & Toubro reported strong order inflows and mixed revenue performance across its businesses. The Infrastructure Projects segment recorded orders of Rs 61,876 crore (up 26% YoY) with an order book of Rs 4,24,937 crore, and revenues of Rs 33,700 crore (up 5%), supported by international project execution; EBITDA margin improved to 6.1%. Energy Projects secured Rs 46,049 crore in orders (Rs 19% YoY) with an order book of Rs 2,47,861 crore, revenues grew 15% to Rs 12,726 crore, while EBITDA margin declined to 5.9% due to early-stage execution and cost pressures. Hi-Tech Manufacturing posted Rs 2,168 crore in orders (down 74% YoY) and revenues of Rs 3,267 crore (Rs 34%), with EBITDA stable at 18.3%. IT & Technology Services delivered Rs 13,526 crore in revenues (up 12%) with EBITDA at 19.7%, largely driven by international billing. Financial Services reported revenues of Rs 4,477 crore (up 15%) and PBT of Rs 1,021 crore, while Development Projects saw revenues decline 19% to Rs 1,160 crore but EBIT rose to Rs 159 crore. The Others segment grew 55% YoY to Rs 2,594 crore, with EBITDA rising to 32.8%, led by Realty business handovers. On its outlook, the company stated that the Indian economy continues to show resilience, with Q2 GDP growth at 8.2% driven by manufacturing and services. With the RBI's repo rate cut to 5.25% and easing inflation, FY26 GDP growth is expected around 7.4%. The Union Budget 2026'27 is likely to boost spending on technology, defence, and urban development, while private-sector capital expansion in 2025 provides a strong foundation for sustained growth. Globally, GDP is projected to grow around 3% in 2026. Key markets for the company, including the GCC region, are expected to see robust investments in AI, data centers, and urban infrastructure. The company said it is well-positioned to capitalize on opportunities through geographical expansion, efficient execution across Projects & Manufacturing, cost and cash flow management, and strengthened services businesses, aiming to enhance stakeholder returns. S. N. Subrahmanyan, chairman and managing director (MD), said, 'the company posted its highest-ever quarterly order inflow, with the Projects & Manufacturing portfolio exceeding Rs 1 lakh crore for the first time, taking the overall order book past Rs 7 lakh crore. He attributed the growth to sustainable execution, cutting-edge technology, and integration of ESG principles. Looking ahead, he expressed optimism about continued pro-growth momentum, supported by capital expenditure, policy incentives for domestic manufacturing, and the expansion of India's digital and AI ecosystem, while reaffirming the company's focus on technology-led growth and long-term stakeholder value.' Larsen & Toubro is an Indian multinational engaged in EPC projects, hi-tech manufacturing, and services. Powered by Capital Market - Live

Net profit of Larsen & Toubro declined 4.28% to Rs 3215.11 crore in the quarter ended December 2025 as against Rs 3358.84 crore during the previous quarter ended December 2024. Sales rose 10.49% to Rs 71449.70 crore in the quarter ended December 2025 as against Rs 64667.78 crore during the previous quarter ended December 2024. ParticularsQuarter EndedDec. 2025Dec. 2024% Var. Sales71449.7064667.78 10 OPM %12.8612.21 - PBDT8232.726380.03 29 PBT7160.985333.03 34 NP3215.113358.84 -4 Powered by Capital Market - Live

Larsen & Toubro has allotted 30,657 equity shares under ESOS on 28 January 2026. Powered by Capital Market - Live

The Heavy Civil Infrastructure business vertical of Larsen & Toubro(L&T) has won a contract from the Royal Commission of Riyadh City in Saudi Arabia for works pertaining to the extension of the Riyadh Metro. The order is a part of an ultra-mega project won by a consortium of Webuild S.p.A, L&T, Nesma & Partners Contracting, Alstom and IDOM. According to the company's project classification, the order is valued between Rs 5,000 crore to Rs 10,000 crore. The order pertains to the extension of Red Line of Riyadh Metro Network. The scope of work includes design and turnkey construction of 8.4 km long metro line comprising both elevated and underground sections, and five stations. L&T has a proven capability in constructing fast and reliable mass transit systems across the globe, and this latest order stands as a testament to the trust customers place in the company. Powered by Capital Market - Live

L&T's Hydrocarbon Onshore business vertical (L&T Onshore) has won a large order from Petronet LNG, a joint venture promoted by four leading PSUs, viz., Oil & Natural Gas Corporation (ONGC), Indian Oil Corporation (IOCL), GAIL (India) and Bharat Petroleum Corporation (BPCL). According to the company's project classification, the value of the order ranges between Rs 2,500 crore to Rs 5,000 crore. The project, to be delivered entirely on a Lump Sum Turnkey basis, comprises engineering, procurement, construction and commissioning of a Liquefied Natural Gas (LNG)/Ethane double wall storage tank with a capacity of 170,000 cubic metres and a Propane double-wall storage tank with a capacity of 140,000 cubic metres at the Dahej Petrochemical Complex in Gujarat. The scope also includes Ethane and Propane handling and despatch facilities to support the Propane Dehydrogenation and Polypropylene plant. This project is part of India's first petrochemical complex integrating cold energy utilisation from an LNG terminal and is expected to contribute towards bridging the domestic polypropylene demand-supply gap. The project aligns with Government of India's Aatmanirbhar Bharat initiative by strengthening indigenous petrochemical manufacturing capacity.Powered by Capital Market - Live

Larsen & Toubro will hold a meeting of the Board of Directors of the Company on 28 January 2026.Powered by Capital Market - Live

The Saidongar-1 pumped storage project (PSP) will comprise ten units of 300 MW each, taking its total capacity to 3000 MW. The scope of the contract includes design, engineering and execution of all civil and hydro mechanical jobs associated with the project. With this order, L&T will play a pivotal role in bringing to life a project of immense significance ' expected to enhance grid reliability and energy security for Maharashtra and beyond. L&T stated that pumped storage projects like Saidongar-1 are vital to ensuring grid stability and meeting peak power demand. 'This order is a testament to L&T's unmatched capability in delivering complex hydroelectric/pumped storage projects of national importance. With a track-record of engineering excellence, timely execution and world-class safety standards, the Saidongar-1 PSP reinforces L&T's position as a trusted partner for large-scale, high-capacity pumped storage solutions,' the company stated. According to L&T's classification, the value of this contract lies between Rs 2,500 crore and Rs 5,000 crore. L&T is a diversified EPC major operating across infrastructure, energy, hydrocarbons, defence, manufacturing and services in India and overseas. The company reported a 15.6% year-on-year rise in consolidated net profit to Rs 3,926.09 crore on a 10.4% increase in revenue to Rs 67,983.53 crore in Q2 FY26. Powered by Capital Market - Live

The Heavy Civil Infrastructure business vertical of'Larsen & Toubro has secured the large order from Torrent Energy Storage Solutions (earlier known as Torrent PSH 3 ) for the construction of India's biggest pumped storage project - the 3000 MW Saidongar-1 Pumped Storage Project (PSP) in Raigad, Maharashtra. The PSP will comprise ten units of 300 MW each. According to the company's project classification, the order is valued in the range of Rs 2,500 crore to Rs 5,000 crore. The scope of the contract includes design, engineering and execution of all civil and hydro mechanical jobs associated with the project. With this order, L&T will play a pivotal role in bringing to life a project of immense significance - expected to enhance grid reliability and energy security for Maharashtra and beyond. This order is a testament to L&T's unmatched capability in delivering complex hydroelectric/pumped storage projects of national importance. With a track-record of engineering excellence, timely execution and world-class safety standards, the Saidongar-1 PSP reinforces L&T's position as a trusted partner for large-scale, high-capacity pumped storage solutions. Pumped storage projects like Saidongar-1 are vital to ensuring grid stability and meeting peak power demand. By storing surplus energy and releasing it during high-demand periods, they provide a reliable and flexible solution that will strengthen India's energy security and supports the long-term decarbonisation goals.Powered by Capital Market - Live

According to a Middle East-focused business news platform, Kuwait is reviewing five major upstream oil and gas contracts after bids reportedly came in above budget. The report said L&T was the lowest bidder in tenders valued at more than $4.5 billion, making the stock sensitive to any adverse developments. Responding to a BSE query, L&T clarified that the projects referred to in the media report are not part of its order book. The company added that it does not comment on the status of tenders or the commercial decisions of its clients, easing concerns about any impact on confirmed orders. Separately, L&T has secured a significant order in its transportation infrastructure business to construct an arterial extradosed cable-stayed bridge over the Muri Ganga River in South 24 Parganas, West Bengal. The project includes a 3.2 km, 2+2 lane bridge with a maximum span of 177 metres, approach roads on the Kakdwip and Sagar Island sides, and advanced traffic management, bridge health monitoring, and architectural and hybrid street lighting. For L&T, a 'significant' order is defined as a contract valued between Rs 1,000 crore and Rs 2,500 crore. L&T is a diversified EPC major operating across infrastructure, energy, hydrocarbons, defence, manufacturing and services in India and overseas. The company reported a 15.6% year-on-year rise in consolidated net profit to Rs 3,926.09 crore on a 10.4% increase in revenue to Rs 67,983.53 crore in Q2 FY26. Powered by Capital Market - Live