L&T share price today

Larsen & Toubro Ltd's share price was ₹4,117.70 at the close on 6 November 2026. It has been falling for 2 weeks. That is 6.0% above its average price over the last 200 trading days. In the last 52 weeks it traded between ₹3,435 and ₹4,381, and at that close it sat 72% of the way up from that low.

A share price tends to move through four phases: moving sideways (stage 1), rising (stage 2), stalling near a high (stage 3) and falling (stage 4). Today Larsen & Toubro Ltd is in stage 4. The phase helps read everything below.

Over the past 13 weeks it has done better than the NIFTY 500, and it has stayed ahead for 3 weeks in a row.

Over the last 11 years the share price moved +456% while the NIFTY 500 moved +257%, so it is ahead of the index over that whole period. The chart above shows the 13-week comparison for every week.

This page treats a rise as over when the price closes below its 200-day average on two Fridays in a row.

Two changes stood out: revenue up on a year earlier for 12 quarters in a row (every quarter we can compare) and lowest operating margin in 16 quarters.

1. Revenue up on a year earlier for 12 quarters in a row (every quarter we can compare)

   In the September 2026 quarter revenue was ₹78,750 crore, +15.8% on a year earlier.

   Why: Revenue rose because the company did more offshore oil and gas work and more work on CarbonLite projects.

   Next results: check whether oil and gas shipments go out on time and whether customers pay back extra logistics costs.

   From the earnings call on 27 Oct 2026.

2. Lowest operating margin in 16 quarters

   Operating margin was 11% in the September 2026 quarter, against 13% a year earlier.

   Why: It earned less on each sale because its water business had cost overruns, supply costs rose, and more projects were not far enough along to count.

   Next results: check whether the water business turns long running cost overruns into claims paid by customers.

   From the earnings call on 27 Oct 2026.

For July to September 2026 (the quarter ended 30 September 2026), L&T reported revenue of ₹78,750 crore, up 15.8% from ₹67,984 crore a year earlier, and a profit of ₹5,949 crore, up 27.2% from ₹4,678 crore.

L&T results: July to September 2026 against a year earlier

The next results, for October to December 2026, are due by 14 February 2027: listed companies must publish quarterly results within 45 days of the quarter's end (60 days for the January to March quarter).

L&T's management discussed these results on a call held on 27 October 2026; what it said is further down this page.

From the company's reported quarterly results (quarter ended 30 September 2026). Revenue and profit in ₹ crore.

L&T closed at ₹4,117.70 on 6 November 2026, up 6.1% from ₹3,882.50 a year earlier (7 November 2025) and up 115.7% over five years. Its highest weekly close since February 2016 was ₹4,380.60 on 20 February 2026.

L&T share price: then and now

Weekly closing prices, adjusted for splits and bonuses so every price is on today’s share count. Each change is the move from that price to the 6 Nov 2026 close. A day's intraday high or low can go beyond these weekly closes.

565 weekly closes from 26 February 2016 to 6 November 2026.

6 Nov 2026: L&T closed at ₹4,117.70, up 6.4% on the week and up 11.2% on the month. 27 Oct 2026: L&T held its results call for July to September 2026. Management guided: FY27 order inflow and revenue growth each 10-12%, backed by H2 PPM prospects of around ₹10.3 trillion.

Earlier

• Results for July to September 2026: Revenue up 15.8% and profit up 27.2% on a year earlier.
• 22 May 2026: ex-date for a dividend of ₹38 a share.

L&T paid ₹38 a share in regular dividends in the 12 months to 7 November 2026 (1 payment), a yield of 0.92% at the ₹4,117.70 close on 6 November 2026. The last was a dividend of ₹38 a share, ex-date 22 May 2026.

L&T dividends since 1 April 2021

Amounts as the company declared them on the NSE. A dividend goes to whoever owns the shares before the ex-date.

Yes. Larsen & Toubro Ltd paid out 32% of its profit as dividends in FY26, and it paid a dividend in each of its last 13 reported years.

From the NSE corporate-actions record, read 7 November 2026.

On the call for July to September 2026, held on 27 October 2026, L&T's management guided: FY27 order inflow and revenue growth each 10-12%, backed by H2 PPM prospects of around ₹10.3 trillion.

“We do not want to again get onto a path of showing revenue while, at the same time, compromising on cash.”P. Ramakrishnan, on the call for July to September 2026

What management guided

• FY27 P&M operating margin goal of 7.8%.
• Group net working capital expected to close below 10%.
• PDO framework covers a US$6-7 billion opportunity; the initial answer cited four to five years, later clarified as three to four years.
• Chennai AI Factory commissioning planned for January 2027; 10,000 GPUs, approximately US$750 million of spending, and over 100 MW of AI capacity within 1.5-2 years.

Management’s own plans and goals, from our notes of the call. A plan is not a result.

Source: the call transcript.

From the call for July to September 2026, 27 October 2026.

When L&T reports October to December 2026, these are the 4 checks that show whether the story is still on course. First: Solar awards and module logistics: check whether ordering recovers without further execution deferrals.

L&T is on 2 of our India lists: Nifty 50 companies and AI & data centre stocks.

Larsen & Toubro Ltd earned ₹5,949 Cr of net profit in the Sep 2026 quarter, +27.2% on the same quarter a year earlier. That is the 2nd quarter in a row of profit growth. Full-year FY26 profit was ₹18,954 Cr. Over 10 years profit has grown 15.2% a year on average. That is 7.6% of the quarter's revenue.

Net profit is what is left after every cost, interest and tax. Earnings per share, dividends and book value all grow from it.

The same quarter a year earlier earned ₹4,678 Cr.

For the full year, FY26 profit was ₹18,954 Cr (+7.2% on the year before).

Why profit moved: revenue changed +15.8% on a year earlier and the margin moved −2.0 percentage points. Sales did the work while the margin got thinner.

On average over the last four quarters, profit changed +9.6% and revenue +11.1%. Profit and revenue are moving at about the same pace.

Larsen & Toubro Ltd reported ₹78,750 Cr of revenue in the Sep 2026 quarter, +15.8% on the same quarter a year earlier. That is the 12th quarter in a row with growth on the year before. Over 10 years it has grown 11.0% a year on average. The last full year, FY26, came in at ₹2,85,874 Cr.

Revenue is everything the company billed its customers in the period.

The last four reported quarters add to ₹3,00,904 Cr.

FY26 revenue was ₹2,85,874 Cr, +11.8% on the year before.

Recent pace: the last four quarters grew +11.1% on average, against 11.0% a year over the longer run, so this year is growing at about the same pace as its own long-run rate.

Is growth speeding up? Revenue over the last 12 months grew +11.1%, against +12.2% a year over the last 8 quarters (stabilising); profit over the last 12 months grew +9.2%, against +13.7% a year (rolling over).

Larsen & Toubro Ltd's operating margin was 11.0% in the Sep 2026 quarter, 2.0 percentage points lower than the same quarter a year ago. Across 13 years it has been between 13.0% and 17.0%. The latest quarter is below every full year in that period.

Operating margin is what is left from every ₹100 of sales after the costs of running the business, before interest and tax. It shows pricing power and cost control.

Why the margin moved: operating margin changed −1.3 percentage points on the year while gross margin changed −1.5 points. So the drop came mostly from the gross margin, which means input costs and prices charged.

Over the last 3 years, 85% of Larsen & Toubro Ltd's reported profit came in as cash from its operations, so the profit is backed by cash. In FY26 it brought in ₹16,741 Cr of operating cash against ₹18,954 Cr of profit. After −₹8,101 Cr of spending on assets, ₹24,842 Cr was left over as free cash.

The profit and loss account shows what was earned. The cash-flow statement shows the cash that actually came in. Comparing operating cash flow with profit is one of the best checks that a profit is real.

Cash-flow figures here are yearly, because quarterly cash statements are not published, so this section changes once a year.

Why 85% of profit came in as cash: the cash cycle got 85 days longer between FY21 and FY26, so more of each rupee of profit waits in the business before it arrives.

What to look at next: no single use of cash stands out. The next section checks both the cash tied up in daily operations and the spending on assets.

Larsen & Toubro Ltd's cash cycle, the days between paying suppliers and getting paid by customers, was −151 days in FY26, up from −236 days in FY21. It spent ₹639 Cr on assets over the last 3 years. Customers take 77 days to pay, and stock sits for 36 days on average.

Working capital is the cash tied up between paying suppliers and getting paid. Debtor days: how long customers take to pay. Inventory days: how long stock sits. The cash cycle: the whole loop, in days of sales.

At FY26 sales of ₹2,85,874 Cr, each day of that cycle ties up about ₹783 Cr, so roughly −₹1,18,266 Cr is tied up in the business at any time.

FY26: customers took 77 days to pay and stock sat for 36 days, about 1.2 months of sales sitting as stock, for a full cycle of −151 days, longer than FY21's −236.

The full loop: cash goes out to suppliers and production on day 0. Stock sits for 36 days. Customers pay about 77 days after that. Suppliers are paid at 265 days. Together that makes the −151-day cycle.

Spending on assets: ₹639 Cr over the last 3 years, against ₹12,168 Cr of depreciation (the yearly wear and tear on existing assets). So it is spending about what it takes to replace what wears out, or less. Work still in progress is ₹3,311 Cr (FY26): assets paid for that are not earning yet.

In short: neither the daily cycle nor new spending is soaking up the cash, so the picture is fairly clean.

Larsen & Toubro Ltd's P/E is 30.0×, in the middle of its own history: higher than 56% of past readings. Its usual P/E (the middle reading) is 28.9×, over 11 years of weekly prices. This compares the share price with the company’s own past. It does not say what the business is worth.

P/E is the share price divided by a year's profit per share: how many rupees the market pays for each rupee of yearly profit.

The P/E here, and its history, use a profit figure that can leave out one-off items, so it can differ from a P/E worked out on the quarterly results. Those results' earnings per share for the four quarters to Sep 2026 add up to ₹129.86.