Summary:
Larsen & Toubro shares rallied after Q2FY27 consolidated net profit rose 32.5% year-on-year to ₹5,202 crore. Revenue increased 16%, while order inflows surged 28% to ₹1.48 lakh crore. Margin pressure and project execution remain key factors for investors.
Shares of Larsen & Toubro Ltd (NSE: LT | BSE: 500510) rose over 6% in Wednesday’s, October 28, 2026 trading session after the engineering and infrastructure major reported a 32.5% year-on-year jump in consolidated net profit for Q2FY27. Fresh order inflows rose 28% to a record ₹1,47,665 crore, with revenue up 16%. The firm’s solid quarter attracted buyers despite weakness in the broader equity market.
L&T Share Price Today: Why Did Stock Surge 6%?
On BSE, L&T shares opened at ₹3,813.95 as against the previous closing price of ₹3,670. The stock climbed 6.05% to an intraday high of ₹3,892.
The stock was up 4.17% at ₹3,823.10 around 10:25 a.m.
The rally was the biggest intraday rise for the company in almost six months, after L&T posted strong quarterly earnings and record order inflows.
The buying interest was clear as the BSE Sensex traded in the negative territory in the morning session.
The stock was moving higher on the company’s earnings growth, expanding order book and continued execution of major infrastructure projects.
L&T Q2FY27 Results: Net Profit Rises 33% Year-On-Year
L&T reported consolidated net profit of ₹5,202 crore for Q2FY27 up 33% from ₹3,926 crore for Q2FY26.
The company’s revenue from operations grew 16% YoY to ₹78,750 crore from ₹67,984 crore on the back of better project execution in its engineering, construction and manufacturing businesses.
However, despite the increase in revenue and profitability, operating margins continued to come under pressure.
| Details | Q2FY27 | Q2FY26 | Year-Over-Year Change |
| Revenue | ₹78,750 crore | ₹67,984 crore | +16% |
| EBITDA | ₹6,840 crore | ₹6,810 crore | +0.4% |
| EBITDA Margin | 8.7% | 10.0% | -130 bps |
| Net Profit | ₹5,202 crore | ₹3,926 crore | +32.5% |
| Inflows on Order | ₹1,47,665 crore | ~₹1,15,363 crore | +28% |
The decline in EBITDA margin was particularly telling in international projects where input costs, logistics costs and execution challenges increased.
Growth Supported by Record Order Book of ₹8.54 Lakh Crore
L&T had some of its biggest highlights in the September quarter with a record order inflow of ₹1,47,665 crore, a 28% year-on-year growth.
The fresh orders received during the quarter were primarily international orders, contributing ₹92,375 crore, or 63% of the total fresh orders.
Major contracts were secured in hydrocarbon projects, airports, public infrastructure and power transmission and distribution, in addition to CarbonLite Solutions.
As on September 30, 2026, the consolidated order book of the company increased by 15 per cent over March 2026 to ₹8,53,514 crore.
International projects made up about 54% of the outstanding order book.
The size of the order backlog indicates the future level of activity and the revenue that will be generated.
What’s in Store for L&T Share Price?
Execution challenges and geopolitics in the Middle East continue to be risks, but L&T has maintained its FY27 guidance of 10-12% growth in revenue and order inflows.
The company continues to benefit from spending on infrastructure, energy projects and demand for big engineering contracts.
However, profitability is pressured by rising input costs, higher freight costs and regional disruptions.
The gap between 16% revenue growth and almost flat EBITDA shows the continued pressure on operating margins.
Going forward, the financial performance of L&T will also be largely dictated by the execution speed of orders and fresh contract wins, working capital requirements and margin recovery.
The Q2FY27 results reflect strong earnings growth and an all-time high order pipeline, but it will be the company’s cost management and execution of an expanding project portfolio that will determine its ability to maintain profitability.
