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 Standalone
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
Whether statement on deviation or variation for proceeds of public issue, rights issue, preferential issue, qualified institutions placement etc. is applicable to the company for the current quarter? No
No. of times funds raised during the quarter
Whether the disclosure for the Default on Loans and Debt Securities is applicable to the entity? No
Not applicable



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 Standalone Standalone
1 Income
Revenue from operations 37,90,284.00 1,06,48,931.00
Other income 2,17,608.00 5,85,561.00
Total income 40,07,892.00 1,12,34,492.00
2 Expenses
(a) Cost of materials consumed 15,87,760.00 46,67,417.00
(b) Purchases of stock-in-trade 29,765.00 81,604.00
(c) Changes in inventories of finished goods, work-in-progress and stock-in-trade 23,373.00 34,660.00
(d) Employee benefit expense 2,91,504.00 8,49,446.00
(e) Finance costs 35,060.00 1,30,095.00
(f) Depreciation, depletion and amortisation expense 49,582.00 1,46,449.00
(f) Other Expenses
1 Sales, administration and other expenses 1,00,913.00 2,77,192.00
2 Sub-contracting charges 10,09,516.00 27,99,475.00
3 Other manufacturing, construction and operating expenses 4,31,055.00 11,51,658.00
Total other expenses 15,41,484.00 42,28,325.00
Total expenses 35,58,528.00 1,01,37,996.00
3 Total profit before exceptional items and tax 4,49,364.00 10,96,496.00
4 Exceptional items (1,10,873.00) (6,52,173.00)
5 Total profit before tax 3,38,491.00 4,44,323.00
6 Tax expense
7 Current tax 56,343.00 1,71,588.00
8 Deferred tax (1,060.00) 114.00
9 Total tax expenses 55,283.00 1,71,702.00
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 2,83,208.00 2,72,621.00
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 0.00 0.00
16 Total profit (loss) for period 2,83,208.00 2,72,621.00
17 Other comprehensive income net of taxes 69,588.00 1,47,165.00
18 Total Comprehensive Income for the period 3,52,796.00 4,19,786.00
19 Total profit or loss, attributable to
Profit or loss, attributable to owners of parent
Total profit or loss, attributable to non-controlling interests
20 Total Comprehensive income for the period attributable to
Comprehensive income for the period attributable to owners of parent
Total comprehensive income for the period attributable to owners of parent non-controlling interests
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 20.59 19.82
Diluted earnings (loss) per share from continuing operations 20.58 19.81
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 20.59 19.82
Diluted earnings (loss) per share from continuing and discontinued operations 20.58 19.81
24 Debt equity ratio 0.200 0.200
25 Debt service coverage ratio 1.4700 1.2800
26 Interest service coverage ratio 13.8200 9.4300
27 Disclosure of notes on financial results Textual Information(1)



Disclosure of notes on financial results

Textual Information(1) 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 Company has assessed and accounted the estimated incremental impact of Rs. 829.68 crore (net of tax) as Exceptional Items in the financial results for the quarter and nine months ended December 31, 2025. III. Exceptional items (net of tax) of Rs. 5413.00 crore for the quarter ended September 30, 2025 represents the impairment of equity investment in L&T Metro Rail (Hyderabad) Limited. IV. In view of above exceptional items, the Profit/(loss) before tax (including exceptional items) and Net profit/(loss) after tax of the Company are as follows: ....................................................................................................................................... Rs. Crore Particulars Quarter ended December 31, September 30, December 31, 2025 2025 2024 [Reviewed] [Reviewed] [Reviewed] ....................................................................................................................................... A. Profit/(loss) before tax (including exceptional items) 3384.91 (2981.77) 3046.66 B. Tax expense (including tax on exceptional items) 552.83 609.40 642.24 C. Net profit/(loss) after tax 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. Profit/(loss) before tax (including exceptional items) 4443.23 9134.94 13573.76 B. Tax expense (including tax on exceptional items) 1717.02 1773.21 2703.04 C. Net profit/(loss) after tax 2726.21 7361.73 10870.72 .................................................................................................................................... V. The Board of Directors of the Company at its meeting held on December 08, 2025 has approved a Scheme of Arrangement with L&T Realty Properties Limited (“LTRPL”), a wholly owned subsidiary of the Company for transfer of the Realty Undertaking as a going concern on a Slump Sale to LTRPL. The Appointed Date of the Scheme would be April 01, 2026 or such other date as mutually agreed. The scheme is subject to receipt of necessary statutory and regulatory approvals including that of the Mumbai bench of the Hon’ble National Company Law Tribunal (“NCLT”). Accordingly, no effect of the scheme has been given in the financial results. VI. Figures for the previous periods have been regrouped/reclassified to conform to the classification of the current periods. VII. The above financial results of the Company 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 Standalone Standalone
1 Segment Revenue (Income)
(net sale/income from each segment should be disclosed)
1 Infrastructure Projects 26,43,942.00 74,80,559.00
2 Energy Projects 6,89,757.00 19,64,062.00
3 Hi-Tech Manufacturing 3,24,257.00 9,20,451.00
4 Others 1,53,663.00 3,48,016.00
5 Less: Inter-segment margins on capital jobs 0.00 0.00
6 Less: Inter-segment assets 0.00 0.00
7 Less : Inter-segment liabilities 0.00 0.00
8 Add: Exceptional items 0.00 0.00
Total Segment Revenue 38,11,619.00 1,07,13,088.00
Less: Inter segment revenue 21,335.00 64,157.00
Revenue from operations 37,90,284.00 1,06,48,931.00
2 Segment Result
Profit (+) / Loss (-) before tax and interest from each segment
1 Infrastructure Projects 1,08,965.00 3,01,039.00
2 Energy Projects 74,014.00 1,85,771.00
3 Hi-Tech Manufacturing 52,234.00 1,20,204.00
4 Others 46,073.00 82,935.00
5 Less: Inter-segment margins on capital jobs 493.00 (2,245.00)
6 Less: Inter-segment assets 0.00 0.00
7 Less : Inter-segment liabilities 0.00 0.00
8 Add: Exceptional items (1,10,873.00) (6,52,173.00)
Total Profit before tax 1,70,906.00 35,531.00
i. Finance cost 35,060.00 1,30,095.00
ii. Other Unallocable Expenditure net off Unallocable income (2,02,645.00) (5,38,887.00)
Profit before tax 3,38,491.00 4,44,323.00
3 (Segment Asset - Segment Liabilities)
Segment Asset
1 Infrastructure Projects 82,35,183.00 82,35,183.00
2 Energy Projects 19,17,912.00 19,17,912.00
3 Hi-Tech Manufacturing 15,95,889.00 15,95,889.00
4 Others 8,77,433.00 8,77,433.00
5 Less: Inter-segment margins on capital jobs 0.00 0.00
6 Less: Inter-segment assets (1,30,388.00) (1,30,388.00)
7 Less : Inter-segment liabilities 0.00 0.00
8 Add: Exceptional items 0.00 0.00
Total Segment Asset 1,24,96,029.00 1,24,96,029.00
Un-allocable Assets 65,47,894.00 65,47,894.00
Net Segment Asset 1,90,43,923.00 1,90,43,923.00
4 Segment Liabilities
Segment Liabilities
1 Infrastructure Projects 61,14,455.00 61,14,455.00
2 Energy Projects 23,23,268.00 23,23,268.00
3 Hi-Tech Manufacturing 12,13,161.00 12,13,161.00
4 Others 4,25,152.00 4,25,152.00
5 Less: Inter-segment margins on capital jobs 0.00 0.00
6 Less: Inter-segment assets 0.00 0.00
7 Less : Inter-segment liabilities (1,30,388.00) (1,30,388.00)
8 Add: Exceptional items 0.00 0.00
Total Segment Liabilities 99,45,648.00 99,45,648.00
Un-allocable Liabilities 19,51,945.00 19,51,945.00
Net Segment Liabilities 1,18,97,593.00 1,18,97,593.00
Disclosure of notes on segments Textual Information(2)



Text Block

Textual Information(2) I. The Company 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. 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. Others segment includes (a) realty, (b) smart infrastructure & communication projects, (c) construction equipment & industrial product design development comprising of (i) marketing and servicing of construction equipment, mining machinery and parts thereof, (ii) manufacture and sale of rubber processing machinery and (d) e-commerce/digital platforms & data centres. III. 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. Unallocable corporate liabilities comprise majorly borrowings. IV. In respect of segments of the Company, 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 Standalone Standalone
Other comprehensive income [Abstract]
1 Amount of items that will not be reclassified to profit and loss
1 Gain/(loss) on remeasurement of the defined benefits plan 6,973.00 (4,842.00)
Total Amount of items that will not be reclassified to profit and loss 6,973.00 (4,842.00)
2 Income tax relating to items that will not be reclassified to profit or loss 1,755.00 (1,219.00)
3 Amount of items that will be reclassified to profit and loss
1 Debt instruments through Other comprehensive income (5,458.00) (22,966.00)
2 Exchange differences in translating the financial statements of foreign operations (814.00) (4,109.00)
3 Effective portion of gains/(losses) on hedging instruments in a cash flow hedge 88,593.00 2,29,166.00
4 Cost of hedging reserve 4,591.00 (249.00)
Total Amount of items that will be reclassified to profit and loss 86,912.00 2,01,842.00
4 Income tax relating to items that will be reclassified to profit or loss 22,542.00 51,054.00
5 Total Other comprehensive income 69,588.00 1,47,165.00





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