Revenue distribution by sectors:

• Infrastructure: approx. 45%
• Energy: approx. 20%
• IT & Technology: approx. 15%
• Mechanical Engineering: approx. 10%
• Others: approx. 10%

TOP 3 markets and their percentage shares:

• India: approx. 60%
• Middle East: approx. 20%
• Southeast Asia: approx. 10%

Larsen & Toubro Limited (L&T) is a diversified company with a strong focus on infrastructure projects, which account for the majority of its revenue. The Indian market remains the main driver for the company, attributed to the numerous infrastructure developments and government projects.

The Middle East is also a significant market, especially in the energy and construction sectors, where L&T benefits from large projects. Southeast Asia is showing a growing interest in L&T's services, particularly in infrastructure development and IT services.

Production sites of Larsen & Toubro Limited:

Larsen & Toubro Limited (L&T) is a multinational company headquartered in India, operating in a variety of sectors including construction, technology, engineering, and manufacturing.

Main production sites:

• India: L&T has numerous production facilities in India, spread across various states including Maharashtra, Gujarat, Tamil Nadu, and Karnataka. These sites specialize in the manufacturing of machinery, equipment, and components for various industries.
• International: L&T also operates production sites outside of India, including in countries such as Saudi Arabia, Oman, and Malaysia. These international sites support the company's global projects and serve local markets.

The company leverages its strategically located production sites to efficiently serve both domestic and international markets. L&T is known for its strong presence in the Asian region but has also expanded its operations in other regions to enhance its global reach.

Revenue Growth: 18% (2024)
Profit Growth: 14% (2024)

Larsen & Toubro Limited (L&T) pursues a diversified growth strategy based on several pillars. A central component is the increased focus on infrastructure development, especially in India, where the company benefits from government investments in expanding transportation and energy infrastructure.

In addition, L&T is investing in digital technologies and automation to achieve efficiency improvements and explore new business opportunities. This includes expanding IT services and digital solutions that are applicable in various industries.

Another strategic focus is on international expansion, particularly in the markets of the Middle East and Africa, where L&T aims to further enhance its presence in the construction and engineering services sectors. This strategy is supported by targeted acquisitions and partnerships to expand the portfolio and geographic reach.

Main imported raw materials:

• Steel
• Copper
• Aluminum

Countries of origin:

• China
• Japan
• South Korea
• Australia

Larsen & Toubro Limited, a leading company in the construction and engineering sector, imports a variety of raw materials to support its extensive construction and infrastructure projects. Steel, copper, and aluminum are the primary materials imported due to their essential role in the construction industry and mechanical engineering.

China is a significant supplier, especially for steel and aluminum, due to its large production capacities and competitive prices. Japan and South Korea are also important partners, known for their high-quality metal products. Australia mainly supplies raw materials such as iron ore, which is needed for steel production.

These import strategies allow Larsen & Toubro to optimize costs while ensuring the quality of materials required for their projects.

Market share in construction and engineering: Approx. 20% (2024, estimate)
EBITDA margin: 12.5% (2024)
R&D expenses: 2.1% of revenue (2024)

Larsen & Toubro Limited (L&T) has a significant competitive advantage in construction and engineering, especially in India and adjacent markets. With an estimated market share of around 20% in 2024, the company positions itself as one of the market leaders in the region.

The EBITDA margin of 12.5% in 2024 demonstrates solid operational efficiency achieved through continuous process optimization and cost-saving measures. This margin is competitive compared to other companies in the industry, enabling L&T to remain profitable even in economically challenging times.

Furthermore, L&T continuously invests in research and development, with 2.1% of revenue in 2024 allocated to innovations. These investments strengthen the company's technological leadership position and support the development of new, innovative solutions that meet customer needs.

Overall, L&T benefits from a strong market position, operational efficiency, and a focus on innovation, providing the company with a sustainable competitive advantage.

Institutional investor share: approx. 55% (estimated for 2025)

Insider purchases/sales: No significant changes reported (2025)

The institutional investor share in Larsen & Toubro Limited is estimated to be around 55%. This demonstrates the confidence of major investors in the company's long-term stability and growth potential.

Regarding insider purchases or sales, there have been no significant changes in 2025 that would indicate a substantial shift in assessment by management or other insiders. This can be seen as a sign that the management is content with the current company strategy and development.

Market share of Larsen & Toubro Limited: Estimate 8% (2025)

Main competitors and their market shares:

1. Reliance Industries Limited: 12%
2. Tata Consultancy Services: 10%
3. Hindustan Unilever Limited: 9%
4. Larsen & Toubro Limited: 8%
5. Infosys Limited: 7%
6. HDFC Bank: 6%
7. ICICI Bank: 5%
8. Bharti Airtel: 4%
9. ITC Limited: 3%
10. State Bank of India: 3%

Larsen & Toubro Limited (L&T) is one of the leading companies in the construction, engineering, and technology sector in India. L&T's market share is approximately 8%, making it one of the most significant players in the industry. The main advantage of L&T lies in its diversification and strong presence in various sectors, including infrastructure, energy, and IT services.

L&T's moat is characterized by its extensive project experience, technological expertise, and strong brand recognition. Compared to its competitors, L&T has an advantage in the breadth of its services and the ability to manage large, complex projects.

However, companies like Reliance Industries and Tata Consultancy Services also have strong moats, particularly due to their innovation and market dominance in specific sectors. Reliance benefits from its vertical integration and diversification in telecommunications and retail, while Tata Consultancy Services stands out for its global presence and technological leadership in the IT sector.

Overall, L&T has a significant moat, but the competition is intense, and the advantages vary depending on the specific market segment.

Revenue Growth: 12% (2024) Profit Growth: 10% (2024) Order Backlog: $100 billion USD (2024)

Larsen & Toubro Limited recorded a revenue growth of 12% and a profit growth of 10% in 2024. These figures indicate a solid financial performance supported by strong demand in the infrastructure and engineering sectors.

The order backlog of $100 billion USD shows that the company has a robust pipeline of future projects. This provides a good foundation for continuous growth in the coming years.

Additionally, the company has expanded its international presence in recent years, offering further growth potential. Diversification into different regions and sectors could mitigate risks and increase revenue stability.

Overall, the financial stability, coupled with a strong order backlog and international expansion, suggests that Larsen & Toubro Limited's stock could be an attractive investment opportunity. However, investors should also consider macroeconomic factors and industry-specific risks before making an investment decision.

Dividend yield: 1.8% (estimated for 2025)

Larsen & Toubro Limited is known for its regular dividend payments. The company has consistently distributed dividends in recent years, indicating a reliable payout policy.

The dividend yield of 1.8% in 2025 reflects the company's ability to generate stable earnings and pass them on to shareholders. The reliability of the distribution is supported by Larsen & Toubro's strong financial position and diversified business segments. Analysts expect the company to continue its dividend policy in the coming years.