Larsen & Toubro Limited (LT) — Capital Reinvestment Ratio
Larsen & Toubro Limited (LT) has a Capital Reinvestment Ratio of 0.70x as of September 2025, meaning it reinvests 1% of its operating cash flow (Rs38.16 Billion) in capital expenditures (Rs26.75 Billion). Check Larsen & Toubro Limited tangible book value ratio to evaluate the tangible quality of the company's equity base.
Capital Reinvestment Ratio
Operating Cash Flow
Capital Expenditures
Data as of
Larsen & Toubro Limited Capital Reinvestment Ratio (2002–2026)
This chart tracks Larsen & Toubro Limited's Capital Reinvestment Ratio across 16 annual periods. For the full cash flow conversion analysis, see Larsen & Toubro Limited cash flow conversion.
Annual Capital Reinvestment Ratio for Larsen & Toubro Limited (2002–2026)
Year-by-year Capital Reinvestment Ratio for Larsen & Toubro Limited from 2002 to 2026. See Larsen & Toubro Limited free cash flow generation to measure how efficiently the company converts operating cash flow to free cash.
| Year | Reinvestment Ratio | Operating CF (INR) | Capital Expenditures | YoY Change |
|---|---|---|---|---|
| 2026 | 0.29x | Rs168.20 Billion | Rs48.09 Billion | ▼ -40.7% |
| 2025 | 0.48x | Rs91.61 Billion | Rs44.19 Billion | ▲ +95.1% |
| 2024 | 0.25x | Rs182.66 Billion | Rs45.17 Billion | ▲ +35.9% |
| 2023 | 0.18x | Rs227.77 Billion | Rs41.44 Billion | ▲ +12.1% |
| 2022 | 0.16x | Rs191.64 Billion | Rs31.11 Billion | ▲ +105.1% |
| 2021 | 0.08x | Rs228.44 Billion | Rs18.08 Billion | ▼ -84.6% |
| 2020 | 0.51x | Rs66.94 Billion | Rs34.37 Billion | ▲ +7.5% |
| 2017 | 0.48x | Rs62.35 Billion | Rs29.79 Billion | ▼ -77.7% |
| 2010 | 2.14x | Rs21.18 Billion | Rs45.40 Billion | ▼ -80.6% |
| 2009 | 11.04x | Rs4.96 Billion | Rs54.78 Billion | ▲ +856.1% |
| 2007 | 1.16x | Rs23.28 Billion | Rs26.89 Billion | ▲ +12.8% |
| 2006 | 1.02x | Rs10.62 Billion | Rs10.87 Billion | ▼ -13.2% |
| 2005 | 1.18x | Rs3.53 Billion | Rs4.17 Billion | ▲ +328.9% |
| 2004 | 0.28x | Rs3.30 Billion | Rs909.30 Million | ▲ +233.4% |
| 2003 | 0.08x | Rs11.67 Billion | Rs963.70 Million | ▼ -59.7% |
| 2002 | 0.20x | Rs13.27 Billion | Rs2.72 Billion | — |