L&T Q4 Results: All eyes on FY26 order inflow, margin guidance, clarity on Qatar order

Leading infrastructure and construction conglomerate Larsen and Toubro (L&T)  is set to report its fourth quarter earnings on Thursday, May 8.

A CNBC-TV18 poll expects L&T to report a  15.9% increase in its consolidated revenue for the fourth quarter to ₹77,745 crore from ₹67,078 crore in the previous year.

Its earnings before interest, tax, depreciation and amortisation (EBITDA) is estimated to rise 15.6% to ₹8,363 crore in comparison to ₹7,234 crore in the year-ago period.

Analysts see the company's margin to remain unchanged from the same quarter last year at around 10.8%.

Brokerage firm Goldman Sachs said it expects L&T to beat its guidance on both, revenue and order flow for financial year 2025. It projected a 30 basis points improvement in core margins for the fourth quarter, compared to the previous year.

All eyes are on the company's fourth quarter margin and margin guidance for financial year 2026. For the March quarter, order inflow is also expected to rise between 5% and 10%. Guidance on order inflow for the new financial year is also awaited by the street.

L&T has emerged as a winning bidder for projects worth $4 billion to $4.5 billion from Qatar Energy LNG recently, according to local reports and in case that is recognised during the March quarter, the company could easily surpass its order inflow guidance.

At the end of the third quarter, L&T's order book increased by 20% from the previous year to ₹5.46 lakh crore.

Its third quarter order inflow increased 53% to ₹1.16 lakh crore.

At the end of the December quarter, L&T had maintained its order inflow guidance and is also in a good position to surpass the same as the ask rate for the March quarter was lower. However, it maintained its full-year margin guidance as well at 8.25%, despite a steep ask rate for the March quarter.

L&T shares were trading 1.05% higher at ₹3,356.2 apiece at 12.30 pm on Thursday, May 8. The stock has gained 9.5% in the past month.

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