L&T Finance Ltd
LTF NSE
L&T Finance Ltd
Financial Services F&ONSE: LTF BSE: 533519 Investment Company
Key Fundamentals
MidcapInvestment CompanyFinancial ServicesMarket Cap
₹79,688 Cr
Volatility
Moderate
P/E Ratio
25.14
EBITDA
₹10,957 Cr
Return on Equity
10.64%
Debt to Equity
3.78
Book Value
₹111.67
EPS
₹9.93
52W High
₹338.6
52W Low
₹215.26
Insights
BetaAI-extracted from concalls & annual reports · figures as reported, with sources
Log in to view L&T Finance Ltd insights
37 extracted metrics + investor summaries across FY15–FY26.
Tapetide Score
Data-driven rating, 0–100. How it works →
Technical Indicators
Key Insights
Strengths
2- Company has delivered good profit growth of 32.4% CAGR over last 5 years
- Company has been maintaining a healthy dividend payout of 25.3%
Weaknesses
5- Stock is trading at 2.83 times its book value
- Company has low interest coverage ratio.
- The company has delivered a poor sales growth of 6.05% over past five years.
- Company has a low return on equity of 10.8% over last 3 years.
- Company might be capitalizing the interest cost
Growth Rate
Revenue Growth
12.40% ↗
Net Income Growth
12.84% ↗
Cash Flow Change
14.46% ↗
ROE
3.20% ↗
ROCE
-4.62% ↘
EBITDA Margin (Avg.)
1.26% ↗
AI Analysis — Bull vs Bear
anthropic claude-opus-4.6 5d agoAI opinion · based on fundamentals
Risk medium
L&T Finance Ltd is a financial services company with a market cap of ₹79,537 Cr, trading at a P/E of 24.7x and P/B of 2.82x. The company has shown strong profit growth (32% CAGR over 5 years) but carries concerns around low sales growth (6% CAGR over 5 years) and modest return on equity of around 11%.
Bull Case 8
- Strong profit growth of 32.4% CAGR over the last 5 years indicates improving operational efficiency and business quality
- TTM profit growth of 20% demonstrates continued earnings momentum in the most recent period
- Stock has delivered 46% returns over the past 1 year, reflecting strong market confidence and re-rating
- 3-year stock CAGR of 38% and 5-year CAGR of 32% show sustained long-term wealth creation
- TTM sales growth of 15% shows an acceleration from the 5-year sales CAGR of 6%, suggesting improving top-line trajectory
- Healthy dividend payout ratio of 25.3% indicates shareholder-friendly capital allocation while retaining growth capital
- ROE has improved to 11% in the last year from an average of 8% over 5 years, signaling improving capital efficiency
- 3-year compounded profit growth of 256% reflects a significant turnaround from a low base, with earnings now normalizing at a higher level
Bear Case 8
- 5-year sales CAGR of only 6.05% is significantly below profit growth, raising questions about revenue sustainability
- P/B ratio of 2.82x is elevated for a financial services company with ROE of only 10.8% over 3 years
- Low interest coverage ratio suggests vulnerability to rising interest rate environments and potential stress on debt servicing
- 3-year ROE of only 11% is modest for a lending institution trading at nearly 3x book value
- Potential capitalization of interest costs may overstate reported profits and book value
- Dividend yield of only 0.87% offers limited income cushion to investors at current valuation
- 10-year stock CAGR of 14% is relatively modest compared to recent sharp re-rating, suggesting much of the easy upside may be priced in
- 10-year sales CAGR of 9% and profit CAGR of 13% indicate that the recent explosive profit growth is a base-effect recovery rather than a structural shift
This is AI-generated analysis, not financial advice. Do your own due diligence.
AI News Digest
anthropic claude-opus-4.6 1d ago Positives 2
- ESG Leader Rating at 78 Aug 11
L&T Finance awarded ESG score of 78 by NSE Sustainability, placing it in the 'leader' category for strong environmental, social, and governance practices.
- Gold loan book growth target Aug 19
L&T Finance expects gold loan business to exceed 10% of total loan book within 5 years, signaling diversification into secured lending.
Neutral 4
- Multiple NCD issuances totalling ₹435cr Aug 20
Allotted ₹235cr secured NCDs at 7.79% (maturing Jun 2031) and ₹200cr subordinated NCDs at 8.20% (maturing Jul 2036) via private placement.
- Block trades worth ₹111cr on NSE Jul 29
Two block trades totalling ~36.65 lakh shares at ~₹303/share, valued at ₹111.23 crores, reflecting significant institutional activity.
- New Whole-Time Directors appointed Aug 11
Sachinn Joshi (2-year term) and Raju Dodti (3-year term) appointed as Whole-Time Directors effective Aug 10, 2026, with RBI approval.
- Multiple analyst meets scheduled Aug 22
Series of institutional investor and analyst meetings planned in Mumbai from Aug 13 through Sep 2, 2026, at Emkay and Motilal Oswal conferences.
TL;DR: L&T Finance is in a steady operational phase with no visible headwinds. The company is actively raising debt at reasonable rates, diversifying into gold loans, and earning ESG recognition. Active institutional engagement and block trades suggest sustained investor interest. The trend is stable with a mild positive tilt from strategic diversification efforts.
Quarterly Results
| Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 3,223 | 3,214 | 3,534 | 3,670 | 3,784 | 4,019 | 4,098 | 4,023 | 4,260 | 4,336 | 4,578 | 4,771 | 5,213 |
| Expenses | 1,270 | 1,331 | 1,375 | 1,619 | 1,482 | 1,575 | 1,676 | 1,581 | 1,640 | 1,662 | 1,800 | 1,890 | 1,974 |
| Financing Profit | 590 | 557 | 806 | 716 | 950 | 968 | 853 | 842 | 984 | 1,040 | 1,075 | 1,134 | 1,269 |
| Fin. Margin % | 18% | 17% | 23% | 20% | 25% | 24% | 21% | 21% | 23% | 24% | 23% | 24% | 24% |
| Other Income | 153 | 268 | 47 | 6 | 0 | 5 | 8 | 4 | 0 | 0 | -25 | 0 | 30 |
| Interest | 1,364 | 1,325 | 1,353 | 1,335 | 1,351 | 1,476 | 1,569 | 1,600 | 1,636 | 1,634 | 1,703 | 1,747 | 1,970 |
| Depreciation | 30 | 28 | 29 | 28 | 28 | 33 | 36 | 41 | 41 | 51 | 58 | 60 | 63 |
| PBT | 714 | 797 | 824 | 694 | 922 | 940 | 824 | 806 | 943 | 989 | 992 | 1,074 | 1,236 |
| Tax % | 26% | 25% | 22% | 20% | 26% | 26% | 24% | 21% | 26% | 26% | 26% | 25% | 26% |
| Net Profit | 531 | 594 | 639 | 553 | 685 | 697 | 626 | 636 | 701 | 735 | 738 | 809 | 916 |
| EPS in Rs | 2.14 | 2.4 | 2.57 | 2.23 | 2.75 | 2.79 | 2.51 | 2.55 | 2.81 | 2.94 | 2.95 | 3.22 | 3.6 |
Profit & Loss
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 6,456 | 7,440 | 8,532 | 10,215 | 13,365 | 14,104 | 13,353 | 11,930 | 12,775 | 14,252 | 15,924 | 17,914 | 18,898 |
| Expenses | 1,625 | 1,979 | 2,776 | 3,308 | 3,377 | 4,160 | 5,401 | 5,233 | 7,935 | 6,195 | 6,304 | 6,946 | 7,326 |
| Financing Profit | 1,254 | 1,328 | 1,120 | 1,449 | 3,105 | 2,392 | 722 | 932 | -972 | 2,670 | 3,614 | 4,234 | 4,518 |
| Fin. Margin % | 19% | 18% | 13% | 14% | 23% | 17% | 5% | 8% | -8% | 19% | 23% | 24% | 24% |
| Other Income | 16 | 8 | 26 | 49 | -4 | 370 | 836 | 594 | 2,792 | 474 | 16 | -26 | 5 |
| Interest | 3,577 | 4,133 | 4,635 | 5,458 | 6,882 | 7,552 | 7,230 | 5,765 | 5,812 | 5,387 | 6,007 | 6,734 | 7,054 |
| Depreciation | 96 | 83 | 67 | 52 | 50 | 82 | 86 | 103 | 111 | 115 | 139 | 210 | 232 |
| PBT | 1,175 | 1,253 | 1,079 | 1,446 | 3,052 | 2,680 | 1,472 | 1,423 | 1,709 | 3,029 | 3,491 | 3,998 | 4,291 |
| Tax % | 28% | 32% | 3% | 12% | 27% | 37% | 36% | 26% | 10% | 24% | 24% | 25% | — |
| Net Profit | 855 | 857 | 1,048 | 1,278 | 2,232 | 1,700 | 949 | 1,049 | 1,536 | 2,317 | 2,643 | 2,983 | 3,198 |
| EPS in Rs | 4.04 | 3.97 | 4.83 | 5.11 | 9.06 | 6.9 | 3.93 | 4.33 | 6.55 | 9.32 | 10.6 | 11.9 | 12.71 |
| Div. Payout % | 16% | 16% | 13% | 16% | 9% | 11% | 0% | 12% | 31% | 27% | 26% | 23% | — |
Balance Sheet
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 1,720 | 1,753 | 1,756 | 1,996 | 1,999 | 2,005 | 2,469 | 2,474 | 2,480 | 2,489 | 2,495 | 2,504 |
| Reserves | 4,656 | 5,442 | 6,138 | 9,411 | 11,450 | 12,688 | 16,304 | 17,474 | 19,049 | 20,950 | 23,069 | 25,479 |
| Borrowing | 43,454 | 52,829 | 61,024 | 75,248 | 91,507 | 93,934 | 88,592 | 85,237 | 83,105 | 76,603 | 92,372 | 1,10,298 |
| Other Liabilities | 2,912 | 3,775 | 3,593 | 1,117 | 1,094 | 902 | 1,582 | 1,696 | 1,706 | 2,652 | 2,447 | 3,903 |
| Total Liabilities | 52,742 | 63,799 | 72,511 | 87,772 | 1,06,050 | 1,09,529 | 1,08,947 | 1,06,880 | 1,06,339 | 1,02,694 | 1,20,384 | 1,42,184 |
| Fixed Assets | 1,184 | 1,313 | 1,230 | 1,151 | 1,127 | 1,100 | 1,138 | 509 | 553 | 519 | 641 | 1,308 |
| CWIP | 174 | 22 | 28 | 19 | 39 | 62 | 24 | 22 | 5 | 36 | 45 | 62 |
| Investments | 2,649 | 3,563 | 6,012 | 5,301 | 8,641 | 5,979 | 8,872 | 11,917 | 14,366 | 12,385 | 11,876 | 10,564 |
| Other Assets | 48,736 | 58,901 | 65,242 | 81,301 | 96,243 | 1,02,387 | 98,912 | 94,433 | 91,415 | 89,754 | 1,07,822 | 1,30,250 |
| Total Assets | 52,742 | 63,799 | 72,511 | 87,772 | 1,06,050 | 1,09,529 | 1,08,947 | 1,06,880 | 1,06,339 | 1,02,694 | 1,20,384 | 1,42,184 |
Cash Flow
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating | -6,474 | -9,213 | -5,779 | -15,640 | -11,643 | 2,162 | 5,464 | 6,078 | 7,490 | 686 | -16,587 | -14,189 |
| Investing | 2 | -675 | -2,118 | 1,549 | -3,587 | 160 | -2,025 | -5,087 | -1,634 | 849 | 472 | 367 |
| Financing | 6,552 | 9,426 | 7,952 | 14,678 | 16,008 | 1,451 | -2,091 | -3,023 | -1,664 | -7,050 | 15,419 | 15,415 |
| Net Cash Flow | 81 | -461 | 55 | 587 | 777 | 3,772 | 1,349 | -2,032 | 4,193 | -5,515 | -697 | 1,593 |
| Free Cash Flow | -6,572 | -9,292 | -5,781 | -15,614 | -11,723 | 2,108 | 5,415 | 6,001 | 7,394 | 568 | -16,777 | -14,427 |
| CFO/OP | -125 | -158 | -91 | -217 | -109 | 30 | 72 | 96 | 178 | 102 | -165 | -120 |
Ratios
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE % | 13% | 13% | 14% | 13% | 18% | 12% | 4% | 4% | 0% | 10% | 11% | 11% |
Documents
1
Business Responsibility and Sustainability Reporting (BRSR)
4 May - L&T Finance submitted FY26 BRSR with ESG targets, performance, governance, and compliance disclosures. 4 May - L&T Finance submitted FY26 BRSR with ESG targets, performance, governance, and compliance disclosures.
2
Announcement under Regulation 30 (LODR)-Newspaper Publication
4 May - Newspaper publication regarding the Annual General Meeting of the Company 4 May - Newspaper publication regarding the Annual General Meeting of the Company
3
Business Responsibility and Sustainability Reporting (BRSR)
4 May - L&T Finance submitted FY26 BRSR with ESG targets, performance, governance, and compliance disclosures. 4 May - L&T Finance submitted FY26 BRSR with ESG targets, performance, governance, and compliance disclosures.
4
Announcement under Regulation 30 (LODR)-Newspaper Publication
4 May - Newspaper publication regarding the Annual General Meeting of the Company 4 May - Newspaper publication regarding the Annual General Meeting of the Company
4
Appointment Of Whole-Time Directors Pursuant To Approval Received From Reserve Bank Of India. 11 Aug 2026
General_Announcements
Frequently Asked Questions about L&T Finance Ltd
What does L&T Finance Ltd do?
L&T Finance Ltd. is a NBFC, offering a range of financial products and services. [1]
Company has filed requisite application for necessary registration as Systemically Important Non- Deposit Accepting Core Investment Company (NBFC-CIC)[2]
Where is L&T Finance Ltd (LTF) listed?
L&T Finance Ltd is listed on the Indian stock exchanges. It is listed on NSE: LTF and BSE: 533519. You can view its live share price, financials, and ratios on Tapetide.
Which sector does L&T Finance Ltd belong to?
L&T Finance Ltd operates in the Financial Services sector within the Investment Company industry. Sector classification helps investors compare companies affected by similar economic conditions and regulatory changes.
What is the market capitalisation of L&T Finance Ltd?
L&T Finance Ltd has a market capitalisation of approximately ₹79687.62 Cr. Based on this, it is classified as a Large Cap stock.
What is the PE ratio of L&T Finance Ltd?
The Price-to-Earnings (PE) ratio of L&T Finance Ltd is 25.14. The PE ratio compares a company's share price to its earnings per share and is commonly used to assess whether a stock is overvalued or undervalued relative to its peers.
What is the 52-week high and low of L&T Finance Ltd?
Over the past 52 weeks, L&T Finance Ltd has traded between a low of ₹215.26 and a high of ₹338.6. This range helps investors understand the stock's price volatility and recent trading levels.
Does L&T Finance Ltd pay dividends?
Yes, L&T Finance Ltd has a dividend yield of 0.87%. Dividend yield indicates the annual dividend income relative to the share price. A consistent dividend history can signal financial stability.
What is the Return on Equity (ROE) of L&T Finance Ltd?
L&T Finance Ltd has a Return on Equity (ROE) of 10.64%. ROE measures how effectively a company uses shareholders' equity to generate profits. A higher ROE generally indicates better capital efficiency.
How can I research L&T Finance Ltd on Tapetide?
On Tapetide, you can view L&T Finance Ltd's live share price, quarterly results, profit & loss statements, balance sheet, cash flow, key ratios, shareholding pattern, technical indicators, analyst ratings, and forecasts — all on a single page without needing to sign up.
Company Information
L&T Finance Ltd. is a NBFC, offering a range of financial products and services. [1] Company has filed requisite application for necessary registration as Systemically Important Non- Deposit Accepting Core Investment Company (NBFC-CIC)[2]