L&T Q4 profit dips 3.1% to Rs 5,326 crore; revenue up 11.3%
Larsen & Toubro Limited (L&T) reported a 3.1% year-on-year (YoY) decline in net profit for Q4 FY26 to Rs 5,326 crore, compared to Rs 5,497 crore in the corresponding quarter last year. Revenue rose 11.3% YoY to Rs 82,762.2 crore, while EBITDA increased 5% to Rs 8,611 crore. EBITDA margin declined to 10.4% from 11% a year ago.
For the full year ended March 31, 2026, L&T reported strong operational performance with record order inflows and double-digit revenue growth. The group secured orders worth Rs 4,35,590 crore in FY26, up 22% YoY, with international orders accounting for 58% of the total. The consolidated order book rose 28% YoY to Rs 7,40,327 crore. Consolidated revenue increased 12% YoY to Rs 2,85,874 crore.
Recurring Profit After Tax (PAT) rose 18% YoY to Rs 17,238 crore. However, reported PAT stood at Rs 16,084 crore after a one-time exceptional provision of Rs 1,155 crore linked to the implementation of new labour codes.
Segment-wise, the Infrastructure Projects business recorded order inflows of Rs 1,99,064 crore, up 15%, though revenue growth remained at 3% due to execution challenges in domestic water projects. The Energy Projects segment reported a 56% increase in order inflows to Rs 1,36,921 crore, driven by Hydrocarbon and CarbonLite Solutions businesses. The Hi-Tech Manufacturing segment posted 46% revenue growth to Rs 14,109 crore, while order inflows declined 54% due to a high base effect.
The Board recommended a final dividend of Rs 38 per share for FY26, compared to Rs 34 in the previous year.
In leadership changes, L&T appointed P. Ramakrishnan as Chief Financial Officer (CFO), effective July 1, 2026. Vijay Sankar has been appointed as a Non-Executive Independent Director for five years from May 27, 2026. Pramit Jhaveri has been re-appointed as an Independent Director for a second five-year term starting April 1, 2027. R. Shankar Raman will continue as President and Whole-time Director – Finance and has been re-appointed for a two-year term from October 1, 2026.
The company also outlined its new five-year strategic plan, ‘Lakshya 2031,’ aimed at accelerating growth through technology and emerging sectors. The plan focuses on investments in data centres, green hydrogen, semiconductor design, and electronic products manufacturing, alongside strengthening its EPC and manufacturing base.
Under ‘Lakshya 2031,’ L&T has set medium-term targets of 10–12% compound annual growth rate (CAGR) in order inflows and 12–15% CAGR in revenue, with a Return on Equity target of 16–17%.
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