Laser Induced Breakdown Spectroscopy (LIBS) System was developed locally for determination of toxic metals in liquid samples and the system was tested for analysis of waste water collected from dairy products processing plant. The plasma was generated by focusing a pulsed Nd: YAG laser at 1064 nm on waste water samples. Optimal experimental conditions were evaluated for improving the sensitivity of our LIBS system through parametric dependence investigations. The Laser-Induced Breakdown Spectroscopy (LIBS) results were then compared with the results obtained using standard analytical technique such as Inductively Coupled Plasma Emission Spectroscopy (ICP). The evaluation of the potential and capabilities of LIBS as a rapid tool for liquid sample analysis are discussed in brief.