Integrated Filing — IndAS



General information about company

Scrip Code 500510
NSE Symbol LT
MSEI Symbol NOTLISTED
ISIN INE018A01030
Name of company LARSEN & TOUBRO LIMITED
Type of company Main Board
Class of security Equity
Date of start of financial year 01-04-2025
Date of end of financial year 31-03-2026
Date of board meeting when results were approved 28-01-2026
Date on which prior intimation of the meeting for considering financial results was informed to the exchange 15-01-2026
Description of presentation currency INR
Level of rounding used in financial results Lakhs
Reporting Type Quarterly
Reporting Quarter Third quarter
Nature of report standalone or consolidated Consolidated
Whether results are audited or unaudited for the quarter ended Unaudited
Whether results are audited or unaudited for the Year to date for current period ended/year ended Unaudited
Segment Reporting Multi segment
Description of single segment
Start date and time of board meeting 28-01-2026   09:30:00
End date and time of board meeting 28-01-2026   18:15:00
Whether cash flow statement is applicable on company
Type of cash flow statement
Declaration of unmodified opinion or statement on impact of audit qualification Declaration of unmodified opinion



Financial Results Ind-AS

Amount in (Lakhs)

Particulars 3 months/ 6 months ended (dd-mm-yyyy) Year to date figures for current period ended (dd-mm-yyyy)
A Date of start of reporting period 01-10-2025 01-04-2025
B Date of end of reporting period 31-12-2025 31-12-2025
C Whether results are audited or unaudited Unaudited Unaudited
D Nature of report standalone or consolidated Consolidated Consolidated
1 Income
Revenue from operations 71,44,970.00 2,03,11,218.00
Other income 1,44,104.00 4,18,211.00
Total income 72,89,074.00 2,07,29,429.00
2 Expenses
(a) Cost of materials consumed 24,45,073.00 70,65,355.00
(b) Purchases of stock-in-trade 29,829.00 81,273.00
(c) Changes in inventories of finished goods, work-in-progress and stock-in-trade (1,113.00) (67,312.00)
(d) Employee benefit expense 12,79,986.00 38,42,430.00
(e) Finance costs 62,513.00 2,16,955.00
(f) Depreciation, depletion and amortisation expense 1,07,174.00 3,19,680.00
(f) Other Expenses
1 Sub-contracting charges 11,91,511.00 34,27,364.00
2 Other manufacturing, construction and operating expenses 9,63,561.00 25,04,105.00
3 Finance cost of financial services business and finance lease activity 1,77,340.00 5,18,659.00
4 Sales, administration and other expenses 3,17,102.00 8,85,256.00
Total other expenses 26,49,514.00 73,35,384.00
Total expenses 65,72,976.00 1,87,93,765.00
3 Total profit before exceptional items and tax 7,16,098.00 19,35,664.00
4 Exceptional items (1,79,109.00) (1,79,109.00)
5 Total profit before tax 5,36,989.00 17,56,555.00
6 Tax expense
7 Current tax 1,44,203.00 4,53,752.00
8 Deferred tax 9,863.00 18,614.00
9 Total tax expenses 1,54,066.00 4,72,366.00
10 Net movement in regulatory deferral account balances related to profit or loss and the related deferred tax movement 0.00 0.00
11 Net Profit Loss for the period from continuing operations 3,82,923.00 12,84,189.00
12 Profit (loss) from discontinued operations before tax 0.00 0.00
13 Tax expense of discontinued operations 0.00 0.00
14 Net profit (loss) from discontinued operation after tax 0.00 0.00
15 Share of profit (loss) of associates and joint ventures accounted for using equity method (458.00) (2,106.00)
16 Total profit (loss) for period 3,82,465.00 12,82,083.00
17 Other comprehensive income net of taxes 64,755.00 1,31,692.00
18 Total Comprehensive Income for the period 4,47,220.00 14,13,775.00
19 Total profit or loss, attributable to
Profit or loss, attributable to owners of parent 3,21,511.00 10,75,839.00
Total profit or loss, attributable to non-controlling interests 60,954.00 2,06,244.00
20 Total Comprehensive income for the period attributable to
Comprehensive income for the period attributable to owners of parent 3,89,603.00 12,32,853.00
Total comprehensive income for the period attributable to owners of parent non-controlling interests 57,617.00 1,80,922.00
21 Details of equity share capital
Paid-up equity share capital 27,512.00 27,512.00
Face value of equity share capital 2 2
27 Details of debt securities
22 Reserves excluding revaluation reserve
23 Earnings per share
i Earnings per equity share for continuing operations
Basic earnings (loss) per share from continuing operations 23.37 78.22
Diluted earnings (loss) per share from continuing operations 23.36 78.18
ii Earnings per equity share for discontinued operations
Basic earnings (loss) per share from discontinued operations 0 0
Diluted earnings (loss) per share from discontinued operations 0 0
ii Earnings per equity share
Basic earnings (loss) per share from continuing and discontinued operations 23.37 78.22
Diluted earnings (loss) per share from continuing and discontinued operations 23.36 78.18
24 Debt equity ratio 1.0600 1.0600
25 Debt service coverage ratio 1.8600 1.7200
26 Interest service coverage ratio 10.6500 8.4400
27 Disclosure of notes on financial results Textual Information(1)



Disclosure of notes on financial results

Textual Information(1) Notes: (i) During the quarter, the Company has allotted 24,869 equity shares of Rs.2 each fully paid-up, on exercise of stock options by employees in accordance with the Company's stock option schemes. (ii) Effective November 21, 2025, the Government of India consolidated 29 existing labour regulations into four Labour codes, namely, The Code on Wages, 2019, The Industrial Relations Code, 2020, The Code on Social Security, 2020 and the Occupational Safety, Health and Working Conditions Code, 2020, collectively referred to as the ‘New Labour Codes’. The New Labour Codes has resulted in a one-time material increase in provision for employee benefits on account of recognition of past service costs. Based on the requirements of New Labour Codes and the ICAI clarification, the Group has assessed and accounted the estimated incremental impact of Rs. 1,343.76 crore (net of tax) as Exceptional Items in the Consolidated Results for the quarter and nine months ended December 31, 2025. In view of the above, Profit before tax and Net profit after tax attributable to the Owners of the Company and Non-controlling interests are as follows: ....................................................................................................................................... Rs. Crore Particulars Quarter ended December 31, September 30, December 31, 2025 2025 2024 [Reviewed] [Reviewed] [Reviewed] ....................................................................................................................................... A i) Profit before tax (including exceptional items) 5369.89 6336.11 5333.03 ii) Tax expense (including tax on exceptional items) 1540.66 1649.02 1332.00 iii) Net profit after tax including share in profit/(loss) of joint ventures/associates 3824.65 4678.01 3973.98 B Net profit after tax including share in profit/(loss) of joint ventures/associates before exceptional items 5168.41 4678.01 3973.98 Attributable to: Owners of the Company 4405.86 3926.09 3358.84 Non-controlling interests 762.55 751.92 615.14 C Exceptional items (net of tax) (1343.76) - - Attributable to: Owners of the Company (1190.75) - - Non-controlling interests (153.01) - - Net profit after tax attributable to the Owners of the Company 3215.11 3926.09 3358.84 ...................................................................................................................................... ..................................................................................................................................... Rs. Crore Particulars Nine months ended Year ended December 31, December 31, March 31, 2025 2024 2025 [Reviewed] [Reviewed] [Audited] .................................................................................................................................... A i) Profit before tax (including exceptional items) 17565.55 15564.77 23578.79 ii) Tax expense (including tax on exceptional items) 4723.66 4010.82 5891.40 iii) Net profit after tax including share in profit/(loss) of joint ventures/associates 12820.83 11517.51 17673.33 B Net profit after tax including share in profit/(loss) of joint ventures/associates before exceptional items 14164.59 11517.51 17198.55 Attributable to: Owners of the Company 11949.14 9539.85 14562.33 Non-controlling interests 2215.45 1977.66 2636.22 C Exceptional items (net of tax) (1343.76) - 474.78 Attributable to: Owners of the Company (1190.75) - 474.78 Non-controlling interests (153.01) - - Net profit after tax attributable to the Owners of the Company 10758.39 9539.85 15037.11 .................................................................................................................................... (iii) The Company reports its consolidated financial results on a quarterly basis. The standalone financial results are available on the Company's website viz. www.larsentoubro.com and on the websites of BSE (www.bseindia.com) and NSE (www.nseindia.com). The specified items of the standalone financial results of the Company for the quarter and nine months ended December 31, 2025 are given below: ....................................................................................................................................... Rs. Crore Particulars Quarter ended December 31, September 30, December 31, 2025 2025 2024 [Reviewed] [Reviewed] [Reviewed] ....................................................................................................................................... a) Revenue from operations 37902.84 35115.74 34983.99 b) Profit before exceptional items and tax 4493.64 2431.23 3046.66 c) Profit/(loss) before tax (including exceptional items) 3384.91 (2981.77) 3046.66 d) Net profit/(loss) after tax (including exceptional items) 2832.08 (3591.17) 2404.42 ...................................................................................................................................... ..................................................................................................................................... Rs. Crore Particulars Nine months ended Year ended December 31, December 31, March 31, 2025 2024 2025 [Reviewed] [Reviewed] [Audited] .................................................................................................................................... a) Revenue from operations 106489.31 100180.05 142509.01 b) Profit before exceptional items and tax 10964.96 9134.94 13098.98 c) Profit/(loss) before tax (including exceptional items) 4443.23 9134.94 13573.76 d) Net profit/(loss) after tax (including exceptional items) 2726.21 7361.73 10870.72 .................................................................................................................................... iv) Figures for the previous periods have been regrouped/reclassified to conform to the classification of the current periods. v) The above consolidated financial results of the Parent Company including its Subsidiaries, Associates & Joint Ventures have been prepared in accordance with the recognition and measurement principles laid down in the Indian Accounting Standards (Ind AS) as prescribed under section 133 of the Companies Act, 2013 read with the relevant rules issued thereunder and the other accounting principles generally accepted in India. These results have been reviewed by the Audit Committee and approved by the Board of Directors at its meeting held on January 28, 2026. The same have also been subjected to Limited Review by the Statutory Auditor.



Remarks

Debt equity ratio
Debt service coverage ratio
Interest service coverage ratio


Format for Reporting Segment wise Revenue, Results and Capital Employed along with the company results

Amount in (Lakhs)

Particulars 3 months/ 6 month ended (dd-mm-yyyy) Year to date figures for current period ended (dd-mm-yyyy)
Date of start of reporting period 01-10-2025 01-04-2025
Date of end of reporting period 31-12-2025 31-12-2025
Whether results are audited or unaudited Unaudited Unaudited
Nature of report standalone or consolidated Consolidated Consolidated
1 Segment Revenue (Income)
(net sale/income from each segment should be disclosed)
1 Infrastructure Projects 34,00,423.00 95,18,421.00
2 Energy Projects 12,73,043.00 38,28,834.00
3 Hi-Tech Manufacturing 3,38,199.00 9,57,494.00
4 IT & Technology Services 13,67,645.00 39,70,901.00
5 Financial Services 4,47,680.00 12,61,414.00
6 Development Projects 1,16,052.00 3,94,280.00
7 Others 2,82,169.00 5,95,294.00
8 Add: Exceptional items (before tax) 0.00 0.00
9 Less: Inter-segment assets 0.00 0.00
10 Less: Inter-segment liabilities 0.00 0.00
11 Less: Inter-segment margins on capital jobs 0.00 0.00
Total Segment Revenue 72,25,211.00 2,05,26,638.00
Less: Inter segment revenue 80,241.00 2,15,420.00
Revenue from operations 71,44,970.00 2,03,11,218.00
2 Segment Result
Profit (+) / Loss (-) before tax and interest from each segment
1 Infrastructure Projects 1,69,508.00 4,60,587.00
2 Energy Projects 67,732.00 2,41,704.00
3 Hi-Tech Manufacturing 53,572.00 1,31,022.00
4 IT & Technology Services 2,21,603.00 6,47,220.00
5 Financial Services 1,02,069.00 2,95,279.00
6 Development Projects 15,888.00 37,755.00
7 Others 81,784.00 1,65,198.00
8 Add: Exceptional items (before tax) (1,79,109.00) (1,79,109.00)
9 Less: Inter-segment assets 0.00 0.00
10 Less: Inter-segment liabilities 0.00 0.00
11 Less: Inter-segment margins on capital jobs (1,667.00) (6,375.00)
Total Profit before tax 5,31,380.00 17,93,281.00
i. Finance cost 62,513.00 2,16,955.00
ii. Other Unallocable Expenditure net off Unallocable income (68,122.00) (1,80,229.00)
Profit before tax 5,36,989.00 17,56,555.00
3 (Segment Asset - Segment Liabilities)
Segment Asset
1 Infrastructure Projects 99,20,998.00 99,20,998.00
2 Energy Projects 31,83,721.00 31,83,721.00
3 Hi-Tech Manufacturing 16,95,575.00 16,95,575.00
4 IT & Technology Services 53,03,586.00 53,03,586.00
5 Financial Services 1,31,49,744.00 1,31,49,744.00
6 Development Projects 25,15,273.00 25,15,273.00
7 Others 17,33,570.00 17,33,570.00
8 Add: Exceptional items (before tax) 0.00 0.00
9 Less: Inter-segment assets (5,82,219.00) (5,82,219.00)
10 Less: Inter-segment liabilities 0.00 0.00
11 Less: Inter-segment margins on capital jobs 0.00 0.00
Total Segment Asset 3,69,20,248.00 3,69,20,248.00
Un-allocable Assets 38,09,728.00 38,09,728.00
Net Segment Asset 4,07,29,976.00 4,07,29,976.00
4 Segment Liabilities
Segment Liabilities
1 Infrastructure Projects 73,53,697.00 73,53,697.00
2 Energy Projects 34,66,159.00 34,66,159.00
3 Hi-Tech Manufacturing 12,20,278.00 12,20,278.00
4 IT & Technology Services 14,31,915.00 14,31,915.00
5 Financial Services 1,06,09,750.00 1,06,09,750.00
6 Development Projects 6,44,479.00 6,44,479.00
7 Others 8,41,454.00 8,41,454.00
8 Add: Exceptional items (before tax) 0.00 0.00
9 Less: Inter-segment assets 0.00 0.00
10 Less: Inter-segment liabilities (5,82,219.00) (5,82,219.00)
11 Less: Inter-segment margins on capital jobs 0.00 0.00
Total Segment Liabilities 2,49,85,513.00 2,49,85,513.00
Un-allocable Liabilities 33,32,026.00 33,32,026.00
Net Segment Liabilities 2,83,17,539.00 2,83,17,539.00
Disclosure of notes on segments Textual Information(2)



Text Block

Textual Information(2) Notes : (i) The Group has reported segment information as per Ind AS 108 Operating Segments. The identification of operating segments is consistent with performance assessment and resource allocation by the management. (ii) The Segment composition: Infrastructure Projects segment comprises engineering and construction of (a) building and factories, (b) transportation infrastructure, (c) heavy civil infrastructure, (d) power transmission & distribution, (e) renewables, (f) water & effluent treatment and (g) minerals and metals. Energy Projects segment comprises of (a) Hydrocarbon Onshore and Offshore businesses covering EPC solutions in oil & gas, refineries, petrochemicals & offshore wind energy sectors, from front-end design through detailed engineering, modular fabrication, procurement, project management, construction, installation and commissioning, (b) CarbonLite Solutions business covering BTG scope for power generation plants including associated systems and/or carbon capture utilisation & utility packages and (c) EPC solutions in clean energy space. Hi-Tech Manufacturing segment comprises design, manufacture/construct, supply and revamp/retrofit of (a) custom designed, engineered critical equipment & systems to the process plant, nuclear energy and green hydrogen sectors, (b) marine and land platforms including related equipment & systems; aerospace products & systems; precision and electronic products & systems for the defence, security, space and industrial sectors and (c) electrolysers. IT & Technology Services segment comprises (a) information technology and integrated engineering services (including smart infrastructure & communication projects), (b) e-commerce/digital platforms, cloud services & data centres and (c) semiconductor chip design. Financial Services segment primarily comprises retail finance. Development Projects segment comprises (a) development, operation and maintenance of metro project, including transit oriented development, (b) toll roads (upto the date of divestment) and (c) power generation & development – (i) thermal power and (ii) green energy. Others segment includes (a) realty, (b) construction equipment & industrial product design development comprising of (i) manufacture and sale of industrial valves, (ii) manufacture (upto the date of sale), marketing and servicing of construction equipment, mining machinery and parts thereof, (iii) manufacture and sale of components of construction equipment and (iv) manufacture and sale of rubber processing machinery. (iii) Segment revenue comprises sales and operational income allocable specifically to a segment and includes in the case of Development Projects and Realty business (grouped under Others segment) profits on sale of business undertaking/stake in the subsidiary and/or joint venture companies in those segments. Segment result represents profit before interest and tax. Unallocable corporate income includes majorly interest income, dividends and investment related gains. Unallocable expenditure includes majorly corporate expenses not allocated to segments. Unallocable corporate assets comprise majorly investments. Investment in joint ventures and associates identified with a particular segment are reported as part of the segment assets of those respective segments. Unallocable corporate liabilities comprise majorly borrowings. In respect of (a) Financial Services segment and (b) Development Projects segment relating to a power generation asset given on finance lease, segment liabilities include borrowings as finance costs on the borrowings are accounted as segment expense. (iv) In respect of segments of the Group, revenue and margin do not accrue uniformly during the year. (v) Figures for the previous periods have been regrouped/reclassified to conform to the classification of the current periods.



Other Comprehensive Income

Amount in (Lakhs)

Particulars 3 months/ 6 months ended (dd-mm-yyyy) Year to date figures for current period ended (dd-mm-yyyy)
A Date of start of reporting period 01-10-2025 01-04-2025
B Date of end of reporting period 31-12-2025 31-12-2025
C Whether results are audited or unaudited Unaudited Unaudited
D Nature of report standalone or consolidated Consolidated Consolidated
Other comprehensive income [Abstract]
1 Amount of items that will not be reclassified to profit and loss
1 Gain/(loss) on remeasurements of the net defined benefit plans 9,989.00 (2,205.00)
2 Share in other comprehensive income of joint ventures/associates (net) (17.00) (52.00)
Total Amount of items that will not be reclassified to profit and loss 9,972.00 (2,257.00)
2 Income tax relating to items that will not be reclassified to profit or loss 2,879.00 (563.00)
3 Amount of items that will be reclassified to profit and loss
1 Debt instruments through other comprehensive income (4,840.00) (21,010.00)
2 Foreign Currency Translation Reserve 8,027.00 37,282.00
3 Effective portion of gains and losses on hedging instruments in a cash flow hedge 68,649.00 1,31,991.00
4 Cost of hedge reserve 4,591.00 (249.00)
5 Share in other comprehensive income of joint ventures/associates (net) (1,083.00) (921.00)
Total Amount of items that will be reclassified to profit and loss 75,344.00 1,47,093.00
4 Income tax relating to items that will be reclassified to profit or loss 17,682.00 13,707.00
5 Total Other comprehensive income 64,755.00 1,31,692.00





Details of Impact of Audit Qualification

Amount in (Lakhs)

Whether results are audited or unaudited Unaudited
Declaration of unmodified opinion or statement on impact of audit qualification Declaration of unmodified opinion
Auditor's opinion
Declaration pursuant to Regulation 33 (3) (d) of SEBI (LODR) Regulation, 2015: The company declares that its Statutory Auditor/s have issued an Audit Report with unmodified opinion for the period on Standalone results Yes
Sr No. Audit firm's name Whether the firm holds a valid peer review certificate issued by Peer Review Board of ICAI Certificate valid upto
1 M S K A & Associates LLP Yes 31-07-2027