Larsen & Toubro Q2 Results: Net Profit Rises 15.6%, Revenue Up 10% YoY; Meets Estimates
Larsen & Toubro Q2 Results: The consolidated order book as on September 30, 2025, was at Rs 667,047 crore, a growth of 15% over March 2025. International orders comprised 49% of the order book.
Larsen & Toubro Ltd.'s consolidated net profit rose 15.6% in the second quarter of this financial year, broadly in line with analysts' estimates.
India's largest engineering, procurement and construction company posted a bottom-line of Rs 3,926 crore in the July-September period, according to an exchange filing on Wednesday.
As per the consensus estimate of analysts tracked by Bloomberg, the net profit was expected at Rs 4,005 crore.
L&T Q2 FY26 Earnings Highlights (Consolidated, YoY)
Revenue from operations up 10.4% to Rs 67,983.53 crore versus Rs 61,554 crore (Estimate: Rs 70,478 crore).
Ebitda up 6.98% to Rs 6,806.41 crore versus Rs 6,362.04 crore (Estimate: Rs 7,056 crore).
Ebitda margin stood at 10.01% versus 10.33% (Estimate: 10%).
Net profit up 15.63% to Rs 3,926.09 crore versus Rs 3,395.29 crore (Estimate: Rs 4,005 crore).
Orderbook Position
The consolidated order book of the Group as on September 30, 2025, was at Rs 667,047 crore, a growth of 15% over March 2025. International orders comprised 49% of the order book.
The company secured orders worth Rs 115,784 crore at the Group level during the quarter ended September 30, 2025. International orders stood at Rs 75,561 crore, accounting for 65% of the total order inflow.
The company secured orders worth Rs 210,237 crore registering y-o-y growth of 39% for the half-year ended September 30, 2025.
During the half-year, big-ticket order wins were in Public Spaces, Commercial Buildings, Metro, Hydel & Tunnel, Transmission & Distribution, Renewables, Non-Ferrous Metals, Thermal BTG, and Offshore and Onshore businesses in the Hydrocarbon sector.
Segment-wise Performance
Infrastructure Projects Segment
The segment secured order inflow of Rs 52,686 crore during the quarter ended September 30, 2025, registering a growth of 6% over the corresponding quarter of the previous year.
The segment order book stood at Rs 394,706 crore as on September 30, 2025, with the share of international orders at 43%.
Customer revenues were at Rs 31,759 crore, registering a y-o-y decline of 1%, primarily due to slower progress in water related projects.
Energy Projects Segment
The segment secured orders valued at Rs 38,156 crore during the quarter ended September 30, 2025, registering more than 100% growth on y-o-y basis.
The growth in order inflow was driven by the receipt of ultra-mega orders in both the Onshore and Offshore businesses in the Hydrocarbon sector.
The segment order book stood at Rs 214,496 crore as on September 30, 2025, with the international order book constituting 71% of the total.
Revenues stood at Rs 13,082 crore, registering a robust growth of 48% y-o-y led by an execution ramp up in international projects of the Hydrocarbon business.
Hi-Tech Manufacturing Segment
The company secured orders valued at Rs 2,582 crore for the quarter ended September 30, 2025, a 34% decline over the corresponding quarter of the previous year primarily attributable to the deferral of orders.
The order book of the segment was at Rs 39,064 crore as on September 30, 2025, with the share of export orders at 11%.
Revenues were at Rs 2,754 crore, registering a growth of 33% y-o-y attributable to improved execution in both the Heavy Engineering and Precision Engineering & Systems businesses.
Before the quarterly results were declared, shares of L&T closed 0.39% lower at Rs 3,957.30 apiece on the NSE, compared to 0.45% advance in the benchmark Nifty 50.
