Larsen & Toubro Limited — Q4 FY26
L&T reported Q4 FY26 group revenue of INR 82,800 crore (+11% YoY), slightly below guidance due to West Asia conflict disruptions and water project delays.
neutral
medium
✓ Verified against BSE filing
Indian management teams deliver on roughly 12% of specific earnings-call promises. A low score does not indicate dishonesty — it reflects how aspirational forward guidance typically is.
Q3 FY26
FY26 revenue growth guidance of 15% retained
Management is confident of achieving 15% full-year revenue growth, with Q4 execution ramp-up expected.
Missed
Current-quarter commentary contains related risk or weakness, so the promise appears not to have been delivered yet.
heuristic_v1
Q3 FY26
Projects & manufacturing margin target of 8.5% for FY26
9M PM margin at 7.9% is in line with the full-year target of 8.5%, despite hydrocarbon margin softness.
Missed
Current-quarter commentary contains related risk or weakness, so the promise appears not to have been delivered yet.
heuristic_v1
Q3 FY26
Revised net working capital to sales target of ~10% for FY26
Improved to 8.2% in Dec 2025; revised target from 12% to ~10% by March 2026.
Missed
Current-quarter commentary contains related risk or weakness, so the promise appears not to have been delivered yet.
heuristic_v1
Q3 FY26
Order inflow guidance to be exceeded
9M order inflow growth of 30% YoY; management expects to exceed the 10% full-year guidance.
Missed
Current-quarter commentary contains related risk or weakness, so the promise appears not to have been delivered yet.
heuristic_v1