Larsen & Toubro Limited Q1 2027 Earnings Recap

Larsen & Toubro's shares gained 3.3% post-earnings, driven by better-than-expected order inflows and international growth, supported notably by large offshore wind awards and strong project bookings. The market rewarded the company’s expanding global footprint and resilient domestic demand despite steady domestic order growth.

Key Takeaways

• Group order inflows rose 14% YoY to INR 1,080 billion, led by PP&M segment orders also up 14% YoY to INR 860 billion.
• International order inflows increased sharply by 27% YoY, raising their share of PP&M portfolio to 55% from 49% a year ago.
• Domestic orders showed only marginal growth of 1% YoY, indicating stable but unspectacular demand at home.
• Strategic initiatives continued with major offshore wind contract wins adding to an 8 GW transmission capacity secured over the past three quarters.
• Moody’s upgraded L&T’s long-term issuer rating to Baa1 with a stable outlook, reflecting solid credit fundamentals despite global macro uncertainties.