Larsen & Toubro

L&T reported Q4 FY26 group revenue of INR 82,800 crore (+11Current 11 crore vs previous available quarter 10 crore.% YoY), slightly below guidance due to West Asia conflict disruptions and water project delays. EBITDA margin contracted 60bps to 10.4%, impacted by revenue mix and legacy project costs in energy. PAT declined 3% YoY to INR 5,300 crore on a high base from prior-year impairment reversal. Order book surged 28% to INR 7.40 trillionCurrent INR 7.40 trillion. Reported change: +28% YoY., driven by strong domestic private sector and Middle East awards. Management guided FY27 order inflow and revenue growth of 10%-12%Current reported value: 10%-12%. No comparable prior figure is available in the source record., with margins stable at 7.8%Current reported value: 7.8%. No comparable prior figure is available in the source record. for the redefined PP&M segment. The Lakshya 2031 plan targets 12%-15% revenue CAGR and 16%-17% ROECurrent reported value: 16%-17% ROE. No comparable prior figure is available in the source record., with INR 50bn+ investments in electronics, green hydrogen, and data centers. Key risk: supply chain disruptions in Middle East could persist longer than anticipated, impacting H1 execution.