L&T declares ₹38 dividend, reappoints directors at AGM

Larsen & Toubro Limited declared a final dividend of ₹38 per share for the financial year 2025-26 and approved the reappointment of key directors at its 81st Annual General Meeting (AGM) held on June 5, 2026. The meeting, conducted via video conferencing, saw the adoption of audited standalone and consolidated financial statements for the year ended March 31, 2026. Shareholders voted on nine resolutions, all of which were passed with the requisite majority through the e-voting process.

The company sought approval for the reappointment of Mr. R. Shankar Raman as President and Whole-time Director – Finance effective October 1, 2026. Additionally, Mr. Pramit Jhaveri was reappointed as an Independent Director for a term of five years effective April 1, 2027. Mr. Vijay Sankar was appointed as an Independent Director for a term of five years effective May 27, 2026. The ratification of remuneration payable to Cost Auditors for FY 2026-27 was also approved.

Mr. R. Shankar Raman, President, Whole-time Director & Chief Financial Officer, chaired the meeting, which was held in compliance with the Ministry of Corporate Affairs and Securities and Exchange Board of India (SEBI) circulars. All Directors of the company were present, along with representatives of the Statutory Auditors, Secretarial Auditors, and Cost Auditors. Mr. S. N. Ananthasubramanian, Practising Company Secretary, served as the scrutinizer for the remote e-voting and e-voting during the AGM.

The facility for remote e-voting was available from June 1, 2026, to June 4, 2026. A total of 1,37,57,29,178 shares were eligible for voting, with 1,00,69,64,676 votes polled for the adoption of standalone financial statements. The resolution to declare the final dividend received 1,02,11,37,554 votes in favour, representing 99.9995% of the total votes polled. The voting results were uploaded on the company's website.

Voting Results Summary

Resolution Description	Votes For	Votes Against	% For	% Against
Adoption of standalone financial statements	1,00,69,13,812	50,864	99.9949	0.0051
Adoption of consolidated financial statements	1,00,69,13,078	51,806	99.9949	0.0051
Declaration of Final Dividend of ₹38 per share	1,02,11,37,554	5,544	99.9995	0.0005
Re-appointment of Mr. Anil Vithal Parab	1,01,44,35,243	65,54,881	99.3580	0.6420
Re-appointment of Mr. R. Shankar Raman (Director)	1,00,80,94,162	1,28,96,069	98.7369	1.2631
Re-appointment of Mr. R. Shankar Raman (President & WTD)	87,93,74,549	12,71,32,236	87.3690	12.6310
Re-appointment of Mr. Pramit Jhaveri	94,74,39,097	7,35,42,633	92.7969	7.2031
Appointment of Mr. Vijay Sankar	93,79,82,868	6,82,49,421	93.2173	6.7827
Ratification of Cost Auditors remuneration	1,02,07,87,839	2,01,216	99.9803	0.0197

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
-1.59%	-4.57%	-4.05%	-3.66%	+6.80%	+149.72%

Larsen & Toubro Limited delivered a strong performance in FY 2025-26, achieving record order inflows of ₹4,35,590 crore, a 22% increase from the previous year. The company's order book stood at ₹7,40,327 crore, up 28%, while revenue grew 12% to ₹2,85,874 crore. Recurring profit after tax (PAT) rose 18% to ₹17,238 crore. The Board of Directors has recommended a final dividend of ₹38 per share for the financial year ended March 31, 2026.

The company's net debt-to-equity ratio improved to 0.35:1 from 0.6:1, reflecting strengthened financial discipline. Chairman & Managing Director Mr. S. N. Subrahmanyam highlighted the company's resilience amidst global geopolitical realignments and supply chain disruptions. He noted that operations in the GCC continued without material disruption, with over 100 project sites operating normally.

Group Performance Overview FY 2025-26

Metric	Value	Change
Order Inflow	₹4,35,590 crore	Up 22%
Order Book	₹7,40,327 crore	Up 28%
Revenue	₹2,85,874 crore	Up 12%
Recurring PAT	₹17,238 crore	Up 18%
Net Debt : Equity	0.35 : 1	Improved from 0.6 : 1

Strategic Initiatives and Business Updates

L&T commenced its next five-year strategic journey, Lakshya 2031, aimed at enhancing agility and digital capabilities. In the Infrastructure segment, the company inaugurated Phase 1 of Navi Mumbai International Airport and the 112.5 MW Goaltore solar power plant. The Energy vertical commissioned the Jafurah Gas Compression Project Phase-1 for Saudi Aramco and completed India's first full-scale offshore decommissioning project.

The Hi-Tech Manufacturing division manufactured one of the heaviest Cr-Mo-V Hydrocracking Reactors for ExxonMobil and jointly produced India's first industry-manufactured PSLV rocket with HAL. The Services sector saw LTM (formerly LTMindtree) record its largest-ever deal wins, including the PAN 2.0 Project. L&T Finance acquired the gold loan business of Paul Merchants Finance Private Limited, adding a portfolio of ₹1,350 crore.

New-Age Businesses and ESG

Larsen & Toubro Vyoma partnered with NVIDIA to develop high-performance AI data centers. L&T Semiconductor Technologies acquired the Power Module Design Assets of Fujitsu General Electronics Ltd. in Japan. The company unlocked value exceeding ₹8,300 crore through divestments in Hyderabad Metro Rail and Nabha Power. On the ESG front, Green Business constitutes 51% of standalone revenues, and the company launched India's first listed Sustainability-Linked Bond worth ₹500 crore.