Larsen & Toubro Limited (LT.NS)

Valuation as at 2026-08-29 · see also the NIFTY 500 Most Undervalued screen

About Larsen & Toubro Limited

Larsen & Toubro Limited engages in engineering, procurement, and construction projects (EPC) in India and internationally. The company operates through four segments: Infrastructure Projects, Energy Projects, Hi-Tech Manufacturing, and Others. The Infrastructure Projects segment is involved in the engineering and construction of building and factories, transportation infrastructure, heavy civil infrastructure, power transmission & distribution, renewables, water and effluent treatment, and minerals and metals.

Source: Yahoo Finance company profile · factual description, not KashVector commentary

Larsen & Toubro Limited LT.NS

Industrials · Engineering & Construction

Price
₹4,045.80
Market Cap
₹5566.48B
Free Cash Flow
₹119.32B
Beta
0.60
P/E (TTM)
33.6x
52-Week Range
₹3,288.10–₹4,440.00

Larsen & Toubro Limited's price & financial trends

Each card is labelled with its own reporting period — quarterly where Yahoo provides it for this market, annual otherwise.

Data as at 2026-08-29

Share price · last 2 years

₹4,027.00 +9% vs 2024-08
NIFTY 50 ₹3,704.65₹3,567.40₹3,669.80₹4,069.60₹4,014.00₹4,027.00 2024-082025-012025-062025-112026-042026-08

Earnings per share (diluted) Per quarter

₹29.96 -25% vs Q1 '25
₹39.95₹26.29₹23.36₹38.70₹29.96Q1 '25Q2 '25Q4 '25Q1 '26Q2 '26

Free cash flow Per year

₹119.32B -36% vs FY23
₹186.33B₹137.50B₹47.33B₹119.32BFY23FY24FY25FY26

Dividend per share Per year

₹33.98 +55% vs FY23
₹21.98₹30.31₹27.98₹33.98FY23FY24FY25FY26

Value investing scale · Buffett · Dalio · Graham

Partial Fit
10 / 20 combined score

4 criteria had no data

See the full Buffett, Dalio & Graham breakdown for LT.NS →

Intrinsic value estimate · 5-year forecast

BEAR
₹1,095.50
vs current ₹4,045.80
-72.9% ❌ Overvalued
BASE
₹1,792.67
vs current ₹4,045.80
-55.7% ❌ Overvalued
BULL
₹2,897.17
vs current ₹4,045.80
-28.4% ❌ Overvalued

Assumptions used in this valuation

Every input below is either fetched live from Yahoo Finance or a documented default — nothing is hidden.

Starting free cash flow
₹119.32B
Rough estimate: operating cash flow × 0.8
Risk-free rate
4.90% ● LIVE
Live 10-yr govt bond
Beta
0.60
Floored for non-US stocks
Equity risk premium
7.50%
Market-specific seed
Cost of debt
5.70%
Synthetic rating AA, ICR 9.5x
Tax rate
25.00%
Estimated default
Capital structure
E 82% / D 18%
Market cap vs total debt
Projection horizon
5 years
+ terminal value beyond
BearBaseBull
5-yr FCF growth5.5%11.1%16.6%
Terminal growth2.5%2.5%2.5%
WACC (discount rate)9.46%8.46%7.46%

Cost of Equity = Risk-free rate + Beta × Equity Risk Premium = 4.90% + 0.60 × 7.50% = 9.40% · WACC = weighted by 82%/18% capital structure

These numbers come from running Larsen & Toubro Limited's cash flows through the mechanical DCF formula and assumptions above — not from any view on the news, management, or LT.NS's competitive position. What is DCF?

Want to test your own growth or discount-rate assumptions?Open the full interactive calculator, pre-filled with LT.NS →

Not financial advice. DCF valuations are highly sensitive to assumptions — small changes in growth rate or discount rate produce large swings in output. This is a mechanical calculation, not a recommendation to buy, hold, or sell.

About this valuation

Computed on 2026-08-29 from Yahoo Finance data, using the same engine as the full DCF tool and the NIFTY 500 Most Undervalued screen. Every figure above is a point-in-time snapshot of that date — change any assumption yourself in the interactive tool for a live one.

Frequently asked questions

Is Larsen & Toubro Limited (LT.NS) undervalued?

The Base-case DCF estimates intrinsic value at ₹1,792.67 vs a price of ₹4,045.80 on 2026-08-29 — a -55.7% margin, so the Base case reads overvalued. This is a mechanical output, not advice.