Executes engineering, procurement and construction contracts for large-scale infrastructure, mainly power transmission and distribution (T&D), buildings and factories, and water projects, both in India and overseas. In FY26, the EPC segment accounted for 97.9% of revenue at Rs 26,648.74 crore, with Development Projects contributing 1.1% and Others 0.9%. The BRSR disclosure breaks the revenue mix further, with T&D at 38.62% and Buildings at 29.98%, while exports make up about 30% of revenue across 50 countries. The company holds an order book of Rs 65,457 crore spread across more than 25 countries and secured new orders of Rs 2,957 crore spanning Power T&D, Buildings and Factories, and a Middle East water order via joint venture. Cost structure is dominated by materials at 34.6% of revenue and other operating expenses at 47.6%, with employees at 9.8%. The Development Projects segment houses equity-stake infrastructure assets such as the 49.57% joint venture Kurukshetra Expressway (KEPL), which operates the Rohtak-Bawal NH-71 road project, while the company fully exited Kohima-Mariani Transmission Limited (KMTL) in June 2026. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. EPC (98%), Development Projects (1%), Others (1%). Order-book driven, asset-heavy EPC contractor with a small portfolio of development-stage infrastructure assets
| ₹ crore · consolidated | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 14,777 | 16,361 | 19,626 | 22,316 | 27,143 |
| EBITDA (ex other income) | 1,354 | 1,461 | 1,628 | 1,834 | 2,276 |
| margin % | 9.2 | 8.9 | 8.3 | 8.2 | 8.4 |
| Owners' profit | 540 | 441 | 510 | 586 | 1,040 |
| EPS, as reported (₹) | 36.28 | 29.06 | 31.37 | 35.53 | 60.90 |
| ROE % · ROCE % | 12.1 · 14.2 | 9.3 · 14.9 | 10.1 · 15.9 | 8.8 · 15.6 | 13.3 · 20.5 |
| Debt / equity (x) | 0.84 | 0.78 | 0.76 | 0.65 | 0.43 |
| Cash from operations | 714 | 656 | 843 | 914 | 1,534 |
| Capex | (309) | (771) | (352) | (575) | (810) |
| ₹ crore | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 4,930 | 5,732 | 7,067 | 6,171 | 6,529 | 6,665 | 7,778 | 6,408 |
| Profit before tax | 188 | 202 | 296 | 290 | 322 | 247 | 511 | 420 |
| Net profit | 126 | 140 | 218 | 214 | 237 | 149 | 431 | 312 |
| EPS (₹) | 7.73 | 8.67 | 13.42 | 12.51 | 14.06 | 8.91 | 25.42 | 18.16 |
| Segment | Revenue, ₹ crore | Share % |
|---|---|---|
| EPC | 26,649 | 97.9 |
| Development Projects | 309 | 1.1 |
| Others | 255 | 0.9 |
| Total, before eliminations | 27,212 | 100.0 |
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| LARSEN & TOUBRO LTD. | 5,40,766 | 32.6 | 4.21 | 19.5 | 14.7 | 11.9 | 16.0 | 12.5 |
| Date · filing | Category | Importance | 1-day % | 5-day % |
|---|---|---|---|---|
| 9 Sept 2026 · Swedish step-down subsidiary Linjemontage to list on Nasdaq Stockholm via IPO | capital market events | high | — | — |
| 2 Sept 2026 · Kalpataru Projects gets ESG rating of 63 from NSE Sustainability for FY2026 | business updates | medium | — | — |
| 2 Sept 2026 · Kalpataru Projects gets ESG score of 63 from NSE Sustainability for FY26 | business updates | medium | — | — |
| 1 Sept 2026 · KPIL sets up new step-down subsidiary for India operations | strategic transactions | medium | — | — |
| 14 Aug 2026 · Tax notice from Eswatini Revenue Service for KPIL branch | business updates | medium | — | — |
| 11 Aug 2026 · Audio recording of Q1 FY27 earnings call uploaded on company website | investor communications | low | — | — |
| 11 Aug 2026 · KPIL Q1 FY27: PAT up 46% YoY at Rs 312 Cr; order book hits record Rs 66,607 Cr | results | high | — | — |
| 11 Aug 2026 · KPIL Q1 FY27 Results: Revenue Up 9%, PAT Up 46%, Margins Improve | investor communications | medium | — | — |
| 11 Aug 2026 · Board approves Rs 150 crore rolling mill at Raipur Plant | board shareholder meetings | low | — | — |
| 11 Aug 2026 · Board approves Rs. 150 cr capex for rolling mill at Raipur Plant | board shareholder meetings | medium | — | — |
| Where a broker report shows | This document shows | Why |
|---|---|---|
| A rating (BUY / ADD / REDUCE / SELL) |
| RAIL VIKAS NIGAM LIMITED |
| 42,722 |
| 47.5 |
| 4.35 |
| 30.4 |
| 8.9 |
| 7.5 |
| 5.8 |
| 7.5 |
| KALPATARU PROJECT INT LTD ◆ | 24,541 | 21.6 | 3.17 | 11.1 | 13.3 | 15.0 | 16.0 | 10.0 |
| IRB INFRA DEV LTD. | 23,770 | 18.2 | 1.13 | 10.5 | 4.1 | 2.5 | 7.6 | 55.6 |
| NBCC (INDIA) LIMITED | 22,383 | 30.3 | 6.96 | 18.8 | 23.1 | 29.7 | 13.5 | 9.6 |
| CEMINDIA PROJECTS LIMITED | 21,472 | 35.7 | 8.95 | 18.2 | 24.9 | 31.7 | 29.8 | 10.5 |
| ENGINEERS INDIA LTD | 15,144 | 19.3 | 4.81 | 16.9 | 22.0 | 26.5 | 4.6 | 20.1 |
| TECHNO ELEC & ENG CO. LTD | 11,339 | 26.3 | 2.73 | 18.6 | 11.4 | 12.4 | 29.6 | 20.4 |
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 21.6 | 14.9 | 72 of 107 | 33% |
| P/B | 3.2 | 1.4 | 69 of 86 | 20% |
| ROCE | 15.0 | 10.0 | 34 of 109 | 69% |
| ROE | 13.3 | 9.2 | 27 of 91 | 71% |
| Debt / Equity | 0.4 | 0.3 | 52 of 91 | 43% |
| EBITDA margin | 10.0 | 12.4 | 54 of 88 | 39% |
| Revenue growth | 3.8 | 6.2 | 46 of 86 | 47% |
| Profit growth | 45.9 | 2.7 | 21 of 84 | 76% |
| Market cap | 24541 | 485 | 3 of 108 | 98% |
| A state: the latest filed quarter and the measured reactions |
| an event is a fact; a rating is an opinion that requires SEBI RA registration |
| A target price and upside | The current price and the multiples against the group | a target is a forecast; a multiple is a measurement |
| Estimate years marked E | More audited years; no estimates | MarketPing publishes no forecasts — your own model lives on the Models page |
This document is a statistical summary of publicly filed information and market data, prepared by software from primary sources: SEBI results XBRL filed with BSE and NSE, LODR disclosures, shareholding patterns, exchange price data. It contains no research recommendation, no price target and no opinion on the merits of any security, and is not a research report within the meaning of the SEBI (Research Analysts) Regulations, 2014, Regulation 2(1)(w)(vii). Financial statements are as filed (consolidated where the company files consolidated results). Ratios are computed over filed lines. Where a figure is unavailable the table shows a dash rather than an estimate. The business brief is written by MarketPing's reader from the annual report and checked against it; no figure in a table was generated by a model. Nothing here constitutes investment advice, an offer or a solicitation; readers should consult a SEBI-registered adviser before acting. MarketPing is not a SEBI-registered intermediary.
