Larsen & Toubro Limited (LT) Q1 Results FY27 Preview: Date, Time, Expectations & Key Things To Watch

CompoundingAI Research Updated July 23, 2026 3 min read

Larsen & Toubro faces a complex Q1 FY27 as it balances a record ₹7.40 T order book against seasonal execution headwinds and supply-chain pressures in the Middle East. Investors will be focused on the company's margin trajectory amid rising labour costs and the translation tailwinds provided by a depreciating rupee on its significant international revenue base.

Quick Details

Results date	July 28, 2026
Quarter	Q1 FY 2026-2027
Previous quarter revenue	Rs. 2,85,874 Cr
Previous quarter PAT	Rs. 17,238 Cr
Previous quarter EBITDA margin	10.20%
Market cap	Rs. 521,971.83 Cr
CMP	Rs. 3,793.6

Larsen & Toubro Limited Q1 Results Date and Time

The company will hold its board meeting on July 28, 2026, to consider the audited financial results and recommend dividend for FY 2026-2027.

What to expect from Larsen & Toubro Limited's Q1 FY27 results

L&T enters the quarter with a robust ₹7,40,327 Cr order book, though management has cautioned that Q1 order inflows will likely lag the full-year growth target of 10–12% due to seasonal factors and supply-chain constraints. The rupee's depreciation to the ₹94.50–₹97 range against the dollar acts as a net tailwind for reported revenue, given that international operations contributed 54% of consolidated revenue in FY26. While the company faces margin pressure from labour-code inflation and logistics costs in the Middle East, the planned divestment of Hyderabad Metro and Nabha Power assets—valued at ₹25,471 Cr—is expected to bolster the balance sheet. Investors should look for commentary on how these cross-currents impact the PPM segment's 7.8% margin target for FY27.

Key Things To Watch

Order Inflow and Execution: Tracking the pace of new business against the FY27 growth guidance.

Q1 order inflow performance relative to the 10–12% full-year growth trajectory
Impact of Middle East supply-chain constraints on project revenue recognition timelines
Execution status of the ₹9.1 T domestic and ₹8.7 T international prospects pipeline

Margin and Cost Dynamics: Monitoring the impact of inflationary pressures on profitability.

Middle East logistics cost impact on consolidated EBITDA margins
Flow-through of labour-code implementation costs on employee benefits expenses
Potential margin benefits from the 10% cement tax relief effective from the Budget

Asset Divestments and Working Capital: Updates on balance sheet de-leveraging and cash collection.

Closure status of Hyderabad Metro and Nabha Power transactions
Update on the realty-business slump-sale to L&T Realty Properties
Movement in trade receivables from the ₹6,04,613 Cr level reported as of 31 March 2026

Frequently Asked Questions

How did the rupee's depreciation affect L&T's financials?

The rupee depreciated through the April–June 2026 quarter, trading in a ₹94.50–₹97 range compared to the previous year. This acts as a tailwind for L&T, as it boosts reported INR revenue from international contracts which contributed 54% of consolidated revenue in FY26.

What is the status of L&T's order book?

As of 31 March 2026, L&T reported a record order book of ₹7,40,327 Cr, representing a 28% increase year-on-year. This backlog provides significant revenue visibility, covering approximately 2.6 times the revenue generated in FY26.

What is the expected impact of the new labour codes on costs?

The new labour codes effective from November 2025 have driven labour costs up by 5–12% across skill categories. JLL estimates this will add 3–5% to overall construction costs in 2026, impacting employee expenses.