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View Plans2-year trend showing gross, operating, and net profit margins
Larsen & Toubro Ltd.'s net profit margin of 6.5% in FY2026 reflects thin profitability, with operating margin at 10.5% and gross margin at 65.7%.
In FY 2026, Larsen & Toubro Ltd. posted a gross margin of 65.7%, an operating margin of 10.5%, a net margin of 6.5%. Gross Margin = (Revenue - COGS) / Revenue; Operating Margin = EBIT / Revenue; Net Margin = Net Income / Revenue. Typical healthy ranges: Gross 20-40%, Operating 10-20%, Net 5-10%+. Consistent or improving margins indicate strong competitive positioning.
2-year trend showing revenue, gross profit, and net profit
Larsen & Toubro Ltd.'s revenue grew 14.0% to 2,916.35B and net profit grew 26.0% to 189.54B YoY in FY2026, indicating healthy business momentum.
In FY 2026, Larsen & Toubro Ltd.'s revenue grew by 14.0% year-over-year. Revenue is total income from operations. Gross Profit is revenue minus cost of goods. Net Profit is the bottom line after all expenses. Consistent growth across all three signals a healthy, expanding business.
2-year trend showing shareholder returns
Larsen & Toubro Ltd.'s ROE of 14.7% in FY2026 indicates moderate shareholder returns.
In FY 2026, Larsen & Toubro Ltd. reported an ROE of 14.7%. ROE = (Net Income / Shareholders' Equity) x 100. Measures how efficiently the company turns equity into profit. Above 15% is generally strong; above 25% is excellent. Very high ROE may signal high leverage — check alongside debt levels.
2-year trend comparing profitability with cash generation
Larsen & Toubro Ltd.'s FCF/NI ratio of 0.63x in FY2026 indicates FCF trailing profits — heavy capex or working capital needs may be a factor.
In FY 2026, Larsen & Toubro Ltd.'s free cash flow trailed net income. Free Cash Flow = Operating Cash Flow - Capital Expenditure. When FCF exceeds net income, it suggests high-quality, cash-backed earnings. Persistent gaps may indicate aggressive accounting or heavy capex needs.
2-year trend comparing profitability with cash from operations
Larsen & Toubro Ltd.'s OCF/NI ratio of 0.88x in FY2026 indicates reasonable cash conversion from operations.
In FY 2026, Larsen & Toubro Ltd.'s operating cash flow trailed net income. Operating Cash Flow is the actual cash from core operations. OCF exceeding net income signals strong cash collection. OCF trailing net income may indicate aggressive revenue recognition or working capital issues.
Measure a company's financial leverage, liquidity, and ability to meet financial obligations.
2-year trend showing short-term liquidity position
Larsen & Toubro Ltd.'s current ratio of 1.15x in FY2026 indicates adequate but thin liquidity.
In FY 2026, Larsen & Toubro Ltd. reported a current ratio of 1.15. Current Ratio = Current Assets / Current Liabilities. Measures short-term liquidity. A ratio of 1.5-3.0 is generally healthy; below 1.0 signals liquidity risk; above 3.0 may indicate underutilized assets.
2-year trend showing ability to service debt
Larsen & Toubro Ltd.'s interest coverage ratio of 10.7x in FY2026 indicates comfortable debt servicing capacity.
In FY 2026, Larsen & Toubro Ltd. reported an interest coverage ratio of 10.7x. Interest Coverage = EBIT / Interest Expense. Shows how many times operating profit covers interest payments. Above 5x is comfortable; below 1.5x signals potential difficulty servicing debt.
2-year trend showing financial leverage and capital structure
Larsen & Toubro Ltd.'s debt-to-equity ratio of 0.98x in FY2026 reflects a balanced capital structure with moderate leverage.
In FY 2026, Larsen & Toubro Ltd. reported a debt-to-equity ratio of 0.98. Debt-to-Equity = Total Debt / Total Equity. Below 1.0 is conservative; 1.0-2.0 is moderate; above 2.0 indicates higher financial risk. Capital-intensive industries naturally carry higher ratios.
2-year trend showing total debt with year-over-year changes
Larsen & Toubro Ltd.'s debt decreased 5.2% YoY in FY2026 — positive deleveraging improves financial flexibility.
In FY 2026, Larsen & Toubro Ltd.'s total debt decreased by 5.2% year-over-year. Total Debt includes short-term debt, long-term loans, debentures, and capital leases. YoY changes (shown as percentages) reveal whether the company is leveraging up or deleveraging.
Year-over-year change in diluted shares outstanding
Larsen & Toubro Ltd.'s diluted shares remained virtually unchanged in FY2026.
Over 2 years (FY2025–FY2026), diluted shares remained essentially unchanged at 1.38B.
In FY 2026, Larsen & Toubro Ltd.'s diluted shares increased by 0.0% year-over-year. Diluted Shares accounts for stock options, warrants, and convertibles. Positive YoY change means dilution (red); negative means buybacks (green). Consistent dilution above 5% annually is a red flag.
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Data from audited consolidated filings. For educational purposes only — not investment advice. Last update: FY 2026