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L&T Finance Ltd share Price Today

Company details

157.15
159.45
97.80
179.00
6M Return 11.21%
1Y Return 60.40%
Mkt Cap.(Cr) 39,263.03
Volume 2,161,520
Div Yield 1.57%
OI
-
OI Chg %
-
Volume 2,161,520

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Retailisation story at attractive valuation…
Retailisation story at attractive valuation…

    L&T Finance Holding (LTFH) is a leading NBFC catering to the diverse financing needs of served and underserved customers in urban as well as rural areas. LTFH offers financial assistance in various segments including consumer loans, two-wheeler loans, home loans, micro loans, farm loans and SME loans. Backed by a strong parent, the lender has been assigned “AAA” rating by rating agencies. Its distribution network remains strong with substantial dealer penetration (2500+ dealers in farm equipment and 5500+ tie-ups in two-wheeler segment), 2 crore customers (database) spread across 21 states and one union territory.

Re-orientation of balance sheet towards retailisation

    In April 2022, LTFH announced “Lakshya 2026”, which was targeted towards retailisation and a shift from product based approach to customer focused approach to pedal business growth as well as improve return ratios. As per the plan, the recalibrated product growth strategy was adopted with customised products in mature markets [farm equipment, rural group loans (MFI) and two wheeler finance] with focus on newer retail segment (consumer loans, home loans, LAP and SME loans) with substantial growth potential.

    The management aimed to run down the wholesale book and increase retail share in total loans. Accordingly, in the last four quarters, the share of retail loans has increased from 51% to 75% while the proportion of wholesale book has declined from 49% to 25% (from ₹ 43257 crore to ₹ 19840 crore). Induction of new Chairman SN Subrahmanyan in February 2022 hastened the process of restructuring further.

    Going ahead, AUM growth is expected to be driven by the retail segment – newer segments seen driving faster traction while existing mature segments are expected to witness steady growth with a gradual gain in market share. Increase in retail proportion will continue to aid NIMs trajectory (calculated NIMs at 7.5% in FY23 vs. 6.3% in FY22), which is expected to improve to ~8-9% levels.

    LTFH has been focusing on accelerating retailisation and, thus, leveraging fintech capabilities through automation in order to make the customer journey hassle free and quick. All this should aid sustainable retail AUM growth (31% YoY in FY24E and 24% YoY in FY25E) and gradual improvement in efficiency. However, CI ratio could remain elevated at ~40-41% in the initial phase and subsequently witness improvement at ~38-39% level.

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Holding company L&T Finance announced Q4FY24 & FY24 results:

Q4FY24 Consolidated Financial Highlights:

  • Profit After Tax (PAT) reached Rs 554 crore, up 11% YoY from Rs 501 crore.
  • Net Interest Income (NII) amounted to Rs 1,909 crore, showing a 14% YoY increase from Rs 1,679 crore.
  • Net Interest Margin Fees & Other Income stood at 11.25%, up 204 basis points (bps) YoY from 9.21%.
  • Retail Disbursements totaled Rs 15,044 crore, reflecting a 33% YoY increase from Rs 11,282 crore.
  • Return on Assets (RoA) stood at 2.19%, up 29 bps YoY from 1.90%.
  • Return on Equity (RoE) stood at 9.53%, up 16 bps YoY from 9.37%.

FY24 Consolidated Financial Highlights:

  • Profit After Tax (PAT) amounted to Rs 2,320 crore, up 43% YoY from Rs 1,623 crore.
  • Net Interest Income (NII) reached Rs 7,115 crore, marking a 12% YoY increase from Rs 6,368 crore.
  • Net Interest Margin Fees & Other Income stood at 10.67%, up 200 bps YoY from 8.67%.
  • Retail Disbursements totaled Rs 54,267 crore, reflecting a 29% YoY increase from Rs 42,065 crore.
  • Retail Book amounted to Rs 80,037 crore, up 31% YoY from Rs 61,053 crore.
  • Return on Assets (RoA) stood at 2.32%, up 79 bps YoY from 1.53%.
  • Return on Equity (RoE) stood at 10.35%, up 256 bps YoY from 7.79%.

Commenting on the financial results, Sudipta Roy, Managing Director & CEO, L&T Finance said, “In the second year of our Lakshya 2026 strategic plan, we are happy to report a retailisation of 94% surpassing our goals well ahead of schedule. Our Net Profit for FY24 saw a healthy 43% YoY growth to Rs. 2,320 Crore, driven by a 31% YoY increase in our retail book and a 29% YoY rise in disbursements. This is the highest ever yearly PAT the Company has delivered during its lifetime. Despite the challenging interest rate environment, our borrowing cost remained stable and our portfolio credit metrics continued its improvement journey. Looking ahead, our focus remains on exceeding the 95% retailisation target while maintaining a robust book growth of more than 25%. Our commitment to operational excellence, customer centricity, strong governance and risk management, coupled with a digital first approach, will sustain our growth momentum towards building a value creating, customerfocused technology first financial services powerhouse.”

Result PDF

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L&T Finance Ltd shares SWOT Analysis

Strengths (9)

  • Effectively using its capital to generate profit - RoCE improving in last 2 years
  • Effectively using Shareholders fund - Return on equity (ROE) improving since last 2 year
  • Efficient in managing Assets to generate Profits - ROA improving since last 2 year

Weakness (1)

  • Declining Net Cash Flow : Companies not able to generate net cash

Opportunity (1)

  • Decrease in Provision in recent results

Threats (3)

  • Promoter decreasing their shareholding
  • Red Flag: Resignation of Top Management
  • RSI indicating price weakness

Resistance and support

R1 159.1
R2 160.4
R3 161.4
Pivot

158.12

S1 156.8
S2 155.8
S3 154.5
EMA SMA
160.2
161.8
159.9
149.8
161.0
160.8
164.9
150.7
Delivery and volume
CLIENT NAME DEAL TYPE ACTION DATE AVG. PRICE QUANTITY EXCHANGE
BNP PARIBAS ARBITRAGE Bulk Purchase 2023-09-12 130 36350000 BSE
BC ASIA GROWTH INVESTMENTS Bulk Sell 2023-09-12 130 46216066 BSE
BC INVESTMENTS VI LIMITED Bulk Sell 2023-09-12 130 23783934 BSE
Name Category Shares
Larsen And Toubro Limited PROMOTER 65.86%

OUR RESEARCH VIEW

Investment recommendation
Retailisation story at attractive valuation…
Call Date
25 May 2023
Entry Price 101.00
Target Price 125.00
Duration
12-18 Month

FINANCIALS

Sales
Operating Profit
Profit after Tax
Equity
Reserves and Surplus
Debt
Sales
Operating Profit
Profit after Tax
PE
Debt/Equity
P BV

L&T Finance Ltd Stocks COMPARISON

Financials( in Cr) L&T Finance Ltd Bajaj Finance Ltd Bajaj Finserv Ltd Indian Railway Finance Corporation Ltd Jio Financial Services Ltd
Price 157.75 6,836.90 1,601.70 184.00 365.40
% Change -0.88 0.15 -0.42 -1.34 -0.64
Mcap Cr 39,263.03 423,201.38 255,549.47 240,460.51 232,149.00
Revenue TTM Cr 12,774.95 41,398.35 82,071.70 23,891.95 44.84
Net Profit TTM Cr 1,536.48 11,507.69 12,209.54 6,337.01 31.25
PE TTM 17.07 29.24 31.50 37.96 145.40
1 Year Return 60.40 0.83 11.44 451.72 46.81
ROCE 7.57 11.76 12.69 5.32 0.03
ROE 6.41 23.46 28.18 14.66 0.02
INSIDER & INSTITUTIONAL ACTIVITY

Equity Capital: 21,528.37 Cr FV: 10.00

Period MF Net Purchase / (sold) FII Net
LAST 1M 39,612.39 -20,159.67
LAST 3M 102,786.44 -29,845.85
LAST 6M 169,824.52 52,410.32
LAST 12M 263,183.06 131,057.65

L&T Finance Ltd Information

Stock PE (TTM)
17.07
Promoter Holding
65.86%
Book Value
94.1704
ROCE
7.57%
ROE
6.41%
Description
  • L&T Finance Holdings Limited is engaged in the financial services sector. The company has its market capitalization worth INR 23,002.89 crore as of 16th April 2021. This company was established in 2008. The company has reported quarterly revenue of INR3,622 crore at the end of December 2020. This company is listed on the Bombay Stock Exchange (BSE), having the code 533519 and on the National Stock Exchange (NSE) with the symbol L&TFH. L&T Finance Holdings Limited is headquartered in Mumbai. The company provides financial services like two-wheeler finance, farm equipment finance, infrastructure, housing and real estate finance, microloans and mutual funds. Some of its subsidiaries are L&T Mutual Funds, L&T Finance Limited, L&T Housing Finance Limited etc. L&T Finance Holdings Ltd. changed its name from L&T Capital Holding Ltd. on September 1, 2010. In 2011 the company came up with its first initial Public Offer and entered the capital market. In 2012, the assets of the company crossed the Rs.30000 crore benchmark and during the same year, L&T Finance Holdings entered the housing finance business after acquiring Indo Pacific Housing Finance Ltd. In the same year, the L&T Finance Holdings mutual funds unit received Fidelity's mutual fund business in India. In June 2018, through its subsidiary, the company declared about the opening of its 1000thmeeting centre in West Bengal for the business of micro-loans. An end-to-end digital platform characterizes the microloans business, and it has a range of services like loan sanctioning, group formation, e-signing etc. The company also released an app that would provide an instant customer onboard system and a seamless loan sanctioning system. In the financial year 2018, the company redeemed Rs.1,79,00,000 Compulsory Convertible Redeemable Preference Shares, which amounted to Rs.17,900 Lakhs. By way of a capital infusion made by the promoters, the company has made efforts to help grow the fund of LTFH's focused lending business, viz. rural finance, housing finance and wholesale finance. The company has experienced a positive cash flow for the first time in the past five years, and the company has generated Rs.2161 crore as cash flow from operating activities. The company has witnessed substantial growth in their net cash flow over the last four financial years between 2016-2020. However, the company has a very high debt amounting to Rs.94458 crore as of March 2020.

Registered Address

Brindavan Plot No 177 CST Road, Kalina Santacruz (East), Mumbai, Maharashtra, 400098

Tel : 91-22-62125000
Email : igrc:ltfs.com; team.sec2:ltfs.com; secretarial:ltf
Website : http://www.ltfs.com
Registrar

Sharepro Services India P Ltd

AGM Date (Month) : Jul
Face Value Equity Shares : 10
Market Lot Equity Shares : 1
BSE Code : 533519
NSE Code : LTF
Book Closure Date (Month) :
BSE Group : A
ISIN : INE498L01015

FAQ’s on L&T Finance Ltd Shares

You can buy L&T Finance Ltd shares through a brokerage firm. ICICIdirect is a registered broker through which you can place orders to buy L&T Finance Ltd Share.

Company share prices and volatile and keep changing according to the market conditions. As of May 24, 2024 03:59 PM the closing price of L&T Finance Ltd was Rs.157.75.

Market capitalization or market cap is determined by multiplying the current market price of a company�s shares with the total number of shares outstanding. As of May 24, 2024 03:59 PM, the market cap of L&T Finance Ltd stood at Rs. 39,263.03.

The latest PE ratio of L&T Finance Ltd as of May 24, 2024 03:59 PM is 17.07

The latest PB ratio of L&T Finance Ltd as of May 24, 2024 03:59 PM is 0.59

The 52-week high of L&T Finance Ltd share price is Rs. 179.00 while the 52-week low is Rs. 97.80

According to analyst recommendations, L&T Finance Ltd Share has a "Buy" rating for the long term.

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