India · Delayed Price · Currency is INR Larsen & Toubro Earnings Call Transcripts
Fiscal Year 2026
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Q3 FY26 saw record order inflows and strong revenue growth, with recurring PAT up 31% YoY and improved working capital. Margins in hydrocarbons remain under pressure due to legacy projects but are expected to recover in 2-3 quarters. Robust order book and positive outlook maintained.
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Order inflows surged 45% year-over-year, with the order book reaching INR 6.67 trillion and strong revenue growth across key segments. Margins improved in infrastructure and P&M, while energy margins were impacted by legacy project overruns. Guidance for FY26 remains robust, with strong prospects in India and the Middle East.
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Q1 FY 2026 saw strong order inflows (+33% YoY), revenue growth (+16% YoY), and margin stability, with a record order book and robust execution across segments. Guidance for FY 2026 remains unchanged, with continued focus on sustainability, capital efficiency, and strategic growth.
Fiscal Year 2025
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Q1 FY25 delivered strong growth in order inflows, revenues, and profits, with international business contributing nearly half of revenues. Order book and margins improved, guidance for FY25 is maintained, and credit/ESG ratings were upgraded.
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Q3 FY25 saw record order inflows and strong revenue growth, with robust performance across infrastructure, energy, and technology segments. Margins remained stable in core businesses, and the outlook is positive with guidance likely to be exceeded, supported by a healthy order pipeline and strategic investments in new growth areas.
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Q2 FY25 delivered strong 21% YoY revenue growth, robust order book expansion, and improved margins in core segments. Strategic focus on renewables, semiconductors, and data centers, with guidance for 10% order inflow and 15% revenue growth maintained for FY25.
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Q1 FY25 delivered strong growth in order inflows, revenues, and profits, with international business contributing nearly half of revenues. Margins improved slightly, guidance for order inflow and revenue growth is maintained, and the order book reached a record high.