Larsen & Toubro Limited (LT) - Net Assets

Latest as of December 2025: Rs63.01 Billion INR ≈ $681.45 Million USD

Based on the latest financial reports, Larsen & Toubro Limited (LT) has net assets worth Rs63.01 Billion INR (≈ $681.45 Million USD) as of December 2025. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (Rs99.42 Billion ≈ $1.08 Billion USD) and total liabilities (Rs36.41 Billion ≈ $393.76 Million USD). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off. Check how tangible is Larsen & Toubro Limited's equity to evaluate the tangible quality of the company's equity base.

Key Net Assets Metrics

Metric	Value
Current Net Assets	Rs63.01 Billion
% of Total Assets	63.38%
Annual Growth Rate	16.65%
5-Year Change	31.26%
10-Year Change	127.35%
Growth Volatility	17.36

Larsen & Toubro Limited - Net Assets Trend (2002–2025)

This chart illustrates how Larsen & Toubro Limited's net assets have evolved over time, based on quarterly financial data. See Larsen & Toubro Limited (LT) liquidity interval to measure how many days the company can operate on defensive assets alone.

Annual Net Assets for Larsen & Toubro Limited (2002–2025)

The table below shows the annual net assets of Larsen & Toubro Limited from 2002 to 2025. For live valuation and market cap data, see Larsen & Toubro Limited (LT) market capitalisation.

Year	Net Assets	Change
2025-03-31	Rs1.15 Trillion ≈ $12.48 Billion	+12.53%
2024-03-31	Rs1.03 Trillion ≈ $11.09 Billion	-0.98%
2023-03-31	Rs1.04 Trillion ≈ $11.20 Billion	+8.59%
2022-03-31	Rs953.74 Billion ≈ $10.31 Billion	+8.48%
2021-03-31	Rs879.20 Billion ≈ $9.51 Billion	+15.31%
2020-03-31	Rs762.44 Billion ≈ $8.25 Billion	+10.18%
2019-03-31	Rs692.01 Billion ≈ $7.48 Billion	+12.92%
2018-03-31	Rs612.82 Billion ≈ $6.63 Billion	+13.95%
2017-03-31	Rs537.80 Billion ≈ $5.82 Billion	+5.95%
2016-03-31	Rs507.61 Billion ≈ $5.49 Billion	+10.57%
2015-03-31	Rs459.08 Billion ≈ $4.96 Billion	+12.27%
2014-03-31	Rs408.91 Billion ≈ $4.42 Billion	+11.99%
2013-03-31	Rs365.13 Billion ≈ $3.95 Billion	+17.25%
2012-03-31	Rs311.40 Billion ≈ $3.37 Billion	+19.42%
2011-03-31	Rs260.77 Billion ≈ $2.82 Billion	+18.11%
2010-03-31	Rs220.79 Billion ≈ $2.39 Billion	+46.74%
2009-03-31	Rs150.46 Billion ≈ $1.63 Billion	+28.01%
2008-03-31	Rs117.54 Billion ≈ $1.27 Billion	+55.32%
2007-03-31	Rs75.67 Billion ≈ $818.37 Million	+49.22%
2006-03-31	Rs50.71 Billion ≈ $548.42 Million	+48.25%
2005-03-31	Rs34.21 Billion ≈ $369.94 Million	+23.27%
2004-03-31	Rs27.75 Billion ≈ $300.11 Million	-22.11%
2003-03-31	Rs35.63 Billion ≈ $385.28 Million	+6.55%
2002-03-31	Rs33.44 Billion ≈ $361.59 Million	--

Equity Component Analysis

This analysis shows how different components contribute to Larsen & Toubro Limited's total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.

Equity Composition Insights

Retained earnings have grown by 89974250000000.0% over the analyzed period, indicating profitable operations and earnings retention.

Current Equity Component Breakdown (March 2025)

Component	Amount	Percentage
Retained Earnings	Rs899.74 Billion	92.13%
Common Stock	Rs2.75 Billion	0.28%
Other Comprehensive Income	Rs72.68 Billion	7.44%
Other Components	Rs1.38 Billion	0.14%
Total Equity	Rs976.56 Billion	100.00%

Larsen & Toubro Limited Competitors by Market Cap

The table below lists competitors of Larsen & Toubro Limited ranked by their market capitalization.

Company	Market Cap
PACCAR Inc NASDAQ:PCAR	$58.83 Billion
Bajaj Finance Limited NSE:BAJFINANCE	$58.94 Billion
Larsen & Toubro Limited IL:LTOD	$59.03 Billion
Truist Financial Corp NYSE:TFC	$59.08 Billion
Sempra Energy NYSE:SRE	$58.52 Billion
Samsung Life KO:032830	$58.41 Billion
MEITUAN UNSP.ADR/2B F:9MDA	$58.22 Billion
Aflac Incorporated NYSE:AFL	$57.57 Billion

Equity Growth Attribution

This analysis shows how different factors contributed to changes in Larsen & Toubro Limited's equity between the two most recent reporting periods.

Equity Growth Insights

From 2024 to 2025, total equity changed from 863,592,400,000 to 976,556,000,000, a change of 112,963,600,000 (13.1%).
Net income of 150,371,100,000 contributed positively to equity growth.
Dividend payments of 38,495,700,000 reduced retained earnings.
New share issuances of 93,200,000 increased equity.
Other comprehensive income increased equity by 7,238,200,000.

Equity Change Factors (2024 to 2025)

Factor	Impact	Contribution
Net Income	Rs150.37 Billion	+15.4%
Dividends Paid	Rs38.50 Billion	-3.94%
Share Issuances	Rs93.20 Million	+0.01%
Other Comprehensive Income	Rs7.24 Billion	+0.74%
Other Changes	Rs-6.24 Billion	-0.64%
Total Change	Rs-	13.08%

Book Value vs Market Value Analysis

This analysis compares Larsen & Toubro Limited's book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.

Valuation Insights

Current price-to-book ratio: 5.57x
The company is trading at a significant premium to its book value, suggesting the market values its earnings potential, brand, or other intangibles highly.
The price-to-book ratio has decreased from 184.63x to 5.57x over the analyzed period, indicating reduced market premium.

Historical Price-to-Book Ratios

Date	Book Value per Share	Market Price	P/B Ratio
2002-03-31	Rs21.41	Rs3953.20	x
2003-03-31	Rs31.79	Rs3953.20	x
2004-03-31	Rs22.61	Rs3953.20	x
2005-03-31	Rs26.75	Rs3953.20	x
2006-03-31	Rs38.89	Rs3953.20	x
2007-03-31	Rs53.30	Rs3953.20	x
2008-03-31	Rs81.39	Rs3953.20	x
2009-03-31	Rs104.82	Rs3953.20	x
2010-03-31	Rs153.80	Rs3953.20	x
2011-03-31	Rs181.02	Rs3953.20	x
2012-03-31	Rs211.69	Rs3953.20	x
2013-03-31	Rs243.12	Rs3953.20	x
2014-03-31	Rs270.02	Rs3953.20	x
2015-03-31	Rs291.82	Rs3953.20	x
2016-03-31	Rs313.65	Rs3953.20	x
2017-03-31	Rs357.86	Rs3953.20	x
2018-03-31	Rs396.37	Rs3953.20	x
2019-03-31	Rs444.09	Rs3953.20	x
2020-03-31	Rs547.05	Rs3953.20	x
2021-03-31	Rs625.41	Rs3953.20	x
2022-03-31	Rs678.96	Rs3953.20	x
2023-03-31	Rs735.87	Rs3953.20	x
2024-03-31	Rs620.82	Rs3953.20	x
2025-03-31	Rs709.69	Rs3953.20	x

Capital Efficiency Dashboard

This dashboard shows how efficiently Larsen & Toubro Limited utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.

Capital Efficiency Insights

Current Return on Equity (ROE): 15.40%
The company demonstrates strong efficiency in generating profits from shareholder equity.
DuPont Analysis Breakdown:
• Net Profit Margin: 5.79%
• Asset Turnover: 0.68x
• Equity Multiplier: 3.89x
Recent ROE (15.40%) is below the historical average (17.21%), suggesting potential challenges in capital efficiency.

Historical Capital Efficiency Metrics

Year	Return on Equity	Net Profit Margin	Asset Turnover	Equity Multiplier	Economic Value Added
2002	10.37%	4.49%	0.72x	3.20x	Rs124.43 Million
2003	12.16%	4.63%	0.81x	3.23x	Rs768.42 Million
2004	19.20%	5.57%	1.07x	3.23x	Rs2.55 Billion
2005	31.65%	7.28%	1.09x	3.98x	Rs7.18 Billion
2006	26.53%	8.02%	1.00x	3.31x	Rs8.21 Billion
2007	32.36%	11.01%	0.82x	3.59x	Rs15.48 Billion
2008	21.47%	7.96%	0.73x	3.69x	Rs12.42 Billion
2009	26.87%	9.35%	0.71x	4.06x	Rs23.59 Billion
2010	25.29%	12.20%	0.61x	3.38x	Rs32.09 Billion
2011	17.50%	8.50%	0.55x	3.78x	Rs18.79 Billion
2012	16.09%	7.35%	0.54x	4.05x	Rs17.90 Billion
2013	15.37%	7.04%	0.52x	4.23x	Rs18.20 Billion
2014	13.00%	5.81%	0.50x	4.51x	Rs11.31 Billion
2015	11.65%	5.32%	0.46x	4.75x	Rs6.74 Billion
2016	11.57%	5.03%	0.45x	5.17x	Rs6.91 Billion
2017	12.03%	5.61%	0.51x	4.22x	Rs10.20 Billion
2018	13.24%	6.25%	0.48x	4.40x	Rs18.04 Billion
2019	14.28%	6.40%	0.50x	4.48x	Rs26.68 Billion
2020	14.31%	6.62%	0.47x	4.62x	Rs28.77 Billion
2021	15.27%	8.61%	0.43x	4.10x	Rs39.96 Billion
2022	10.52%	5.46%	0.50x	3.88x	Rs4.29 Billion
2023	11.72%	5.62%	0.56x	3.70x	Rs15.38 Billion
2024	15.12%	5.80%	0.66x	3.93x	Rs44.23 Billion
2025	15.40%	5.79%	0.68x	3.89x	Rs52.72 Billion

Industry Comparison

This section compares Larsen & Toubro Limited's net assets metrics with peer companies in the Engineering & Construction industry.

Industry Context

Industry: Engineering & Construction
Average net assets among peers: $11,697,838,072
Average return on equity (ROE) among peers: 1.48%

Peer Company Comparison

Company	Net Assets	Return on Equity	Debt-to-Equity	Market Cap
Larsen & Toubro Limited (LT)	Rs63.01 Billion	10.37%	0.58x	$58.81 Billion
A2Z Infra Engineering Limited (A2ZINFRA)	$1.53 Billion	-117.78%	8.34x	$27.98 Million
AFCONS INFRASTRUCTURE LTD (AFCONS)	$27.03 Billion	13.18%	3.80x	$1.29 Billion
Akash Infra-Projects Limited (AKASH)	$445.41 Million	21.94%	1.00x	$5.18 Million
Ashoka Buildcon Limited (ASHOKA)	$8.30 Billion	33.27%	16.14x	$376.15 Million
AXISCADES Technologies Limited (AXISCADES)	$3.20 Billion	9.31%	1.69x	$773.68 Million
Capacit'e Infraprojects Limited (CAPACITE)	$10.73 Billion	8.88%	1.43x	$205.76 Million
Consolidated Construction Consortium Limited (CCCL)	$5.89 Billion	15.54%	1.62x	$71.41 Million
Ceigall India (CEIGALL)	$21.46 Billion	14.53%	1.57x	$679.36 Million
Dilip Buildcon Limited (DBL)	$37.73 Billion	7.07%	3.87x	$731.26 Million
Dhruv Consultancy Services Limited (DHRUV)	$662.74 Million	8.89%	0.73x	$5.76 Million

About Larsen & Toubro Limited

NSE:LT India Engineering & Construction

Market Cap

$58.81 Billion

Rs5.44 Trillion INR

Market Cap Rank

#453 Global

#5 in India

Share Price

Rs3953.20

Change (1 day)

-1.19%

52-Week Range

Rs3342.40 - Rs4418.10

All Time High

Rs4418.10