Synopsis: One of India’s largest conglomerate has announced its Q3FY26 result, this included the company stating a 17 percent growth in the quarterly order inflow and recording the highest value for its total order book by standing at Rs 7.3 lakh crore
India’s largest EPC company has witnessed its revenue grow by 10 percent YoY in the Q3FY26, while the profits fell by 4 percent for the same period. Apart from this the company has also recorded its highest total order book and highest order inflow for the quarter.
With a market cap of Rs 5,39,914 Cr, Larsen & Toubro Ltd saw its stock hit an intraday high of Rs 3944 which is 3.9 percent higher than the previous close of Rs 3793. The company stock has given a compounded return of 22 percent in the last 3 years.
The Q3FY26 Result
In the latest quarterly result the company has seen its revenue from operations increase by 10 percent YoY, from Rs 64,668 Cr in Q3FY25 to Rs 71,450 Cr in Q3FY26, while the QoQ increased by 5 percent from Rs 67,984 Cr. The net profits fell by 4 percent going from Rs 3,974 Cr in Q3FY25 to Rs 3,825 Cr in Q3FY26, while the QoQ fell by 18 percent from Q2FY26’s Rs 4,678 Cr.
In 9M numbers of the fiscal year, the company saw its revenue from operations increase by 12 percent YoY, from Rs 181342 Cr in 9MFY25 to Rs 203112 Cr in 9MFY26. The net profits for the same period grew by 11 percent going from Rs 11517 Cr to Rs 12820 Cr.
The company has a 3 year sales CAGR of 18 percent, while the TTM is at 12 percent. The company’s 3 year profit CAGR is at 23 percent, while the TTM number is at 20 percent. The company also has a ROCE of 14 percent and a ROE of 16 percent, which has grown by 40 bps on YoY basis.
The Order Book
The company’s current order book stands at Rs 7.3 Lakh Cr, which is the highest number the company has ever seen as the order book value. This comprises Rs 3.5 Lakh Cr orders from international markets and Rs 3.7 lakh Cr orders from the domestic market.
A segment wise split of the total order book says 58 percent came from Infrastructure, 34 percent from Energy, 5 percent from Hi-Tech Manufacturing and 3 percent from other segments, which comprises of Realty, and Construction Equipment & Industrial Products Design and Development.
For the quarter the company has seen an order inflow of Rs 1.3 lakh Cr which is a 17 percent growth from the Q3FY25’s order book. In Q3FY26 orders inflow, 45 percent of its orders were for the infrastructure business, 34 percent for Energy, 14 percent for service while the rest with others including Hi-Tech Manufacturing. Specifically speaking of the order inflow for the quarter, the company witnessed 51 percent from India, while 22 percent came from USA and Europe, 11 percent from Middle East and the rest 16 percent from rest of the world.
Segment Wise Growth
The Infrastructure project segment has seen a 5 percent YoY revenue growth going from Rs 32,100 Cr in Q3 FY25 to Rs 33,700 Cr in Q3 FY26, with the EBITDA margin going up by 6.1 percent to 5.5 percent. The company has Prospect pipeline of Rs 4 trillion for the near term.
The energy segment has seen a 15 percent YoY revenue growth from Rs 11000 Cr to Rs 12700 Cr. The EBITDA margins have fallen by 5.9 percent to the current 8.3 percent. High tech Manufacturing Segment has seen a 34 percent growth, going from Rs 2400 Cr to Rs 3200 Cr. The EBITDA margins in this sector have grown by 18 percent to stand at 18 percent.
IT & Technology Services Segment has seen a 12 percent growth, going from Rs 12000 Cr to Rs 13500 Cr. The EBITDA margins in this sector have grown by almost 20 percent to stand at 18.7 percent.
LTIMindtree’s revenue growth was driven by the Consumer Business, Manufacturing & Resources, and Health, Life Sciences & Public Services verticals, with operational efficiencies and forex tailwinds aiding margin improvement, while LTTS growth was led by the Technology and Sustainability verticals.
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