Synopsis: L&T has secured multiple EPC orders across mining, steel and zinc projects, strengthening its position in the metals and minerals sector while supporting capacity expansion by leading domestic companies.
The shares of this large-cap company majorly engaged in providing engineering, procurement and construction (EPC) solutions in key sectors such as Infrastructure, Hydrocarbon, Power, Process Industries, and many more were in focus after the company received a mega order.
With the market capitalization of Rs. 5,26,079 Crores, the shares of Larsen & Toubro Ltd were trading at around Rs. 3,824 per share which is 14 percent discount from its 52 week high of Rs. 4,440 per share and is trading at a P/E of 18.1 whereas industry P/E stands at 18.1
What is the NEWS:
L&T’s Metals & Minerals business has secured multiple engineering, procurement and construction (EPC) orders from leading domestic metals and mining companies. The first order is from a public sector company, described by L&T as India’s largest iron ore producer, for an 18 MTPA Iron Ore Handling Plant in Chhattisgarh as part of its plan to achieve 100 MTPA iron ore production capacity by 2030.
The scope includes design and engineering, procurement, installation and commissioning of the downhill conveyor system, screening plant, stockpile, yard equipment, Rapid Wagon Loading System (RWLS) and associated auxiliaries.
The company has also secured various Design & Build and Balance of Plant packages from another public sector Navratna company for the expansion of its steel plant in West Bengal from 2.5 MTPA to 7.1 MTPA. In addition, L&T received an EPC order from a major private sector metals producer for a zinc processing plant covering design and engineering, procurement, installation, commissioning and associated site services. The cumulative value of these contract wins is classified by the company as a ‘Mega’ order, estimated between ₹10,000 crore and ₹15,000 crore.
About the Company and Financials:
Larsen & Toubro Ltd (L&T) is one of India’s largest engineering and construction companies, with operations spanning EPC projects, manufacturing and services across infrastructure, energy, hydrocarbons, defence, IT and industrial sectors. The company has a strong domestic and international presence.
In Q4 FY26, L&T reported an order inflow of ₹8980 Crores, while its order book stood at ₹7.40 lakh Crores, up 28% YoY, providing strong revenue visibility. Around 92% of the order book is from the Infrastructure and Energy businesses.
The order book is split 48% domestic and 52% international, with nearly 78% of the international order book coming from the Middle East. On the domestic side, the private sector’s share has increased to 39% from 21% in March 2025, supported by demand from thermal power, energy storage, real estate, semiconductor fabs, data centres, solar EPC, and ferrous and non-ferrous industries.
YoY analysis: Revenue from operations has increased from Rs. 74,392 Crores in Q4 FY25 to Rs. 82,762 Crores in Q4 FY26, up 11 percent. Operating profit has increased from Rs. 9,876 Crores to Rs. 10,419 Crores, up 5 percent and net profit has decreased from Rs. 6,156 Crores to Rs. 6,133 Crores, down 0.3 percent.
QoQ analysis: Revenue from operation has increased from Rs. 71,450 Crores in Q3 FY26 to Rs. 82,762 Crores in Q4 FY26, up 15.8 percent. Operating profit has increased from Rs. 9,190 Crores to Rs. 10,419 Crores, up 13 percent and net profit has increased from Rs. 3,825 Crores to Rs. 6,133 Crores, up 60 percent
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