L&T Finance Ltd
L&T finance Holdings Ltd is a NBFC and offers a diverse range of financial products and services such as Farm equipment finance, Two wheeler finance, Micro Loans, Consumer loans, Home loans, Loans against property (LAP), Real estate finance, Infra finance, Infra Debt Fund and other services.[1]
It is registered with the Reserve Bank of India (RBI) as a Systemically Important Non- Deposit Accepting Core Investment Company (NBFC-CIC).[2]
- Market Cap ₹ 41,752 Cr.
- Current Price ₹ 168
- High / Low ₹ 179 / 93.5
- Stock P/E 18.0
- Book Value ₹ 94.2
- Dividend Yield 1.19 %
- ROCE 8.21 %
- ROE 10.3 %
- Face Value ₹ 10.0
Pros
- Company has been maintaining a healthy dividend payout of 23.0%
Cons
- Company has low interest coverage ratio.
- The company has delivered a poor sales growth of 0.32% over past five years.
- Company has a low return on equity of 7.18% over last 3 years.
- Company might be capitalizing the interest cost
* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.
Peer comparison
Sector: Finance Industry: Finance & Investments
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
3,990 | 5,221 | 6,456 | 7,440 | 8,532 | 10,215 | 13,365 | 14,104 | 13,353 | 11,930 | 12,775 | 13,581 | |
1,025 | 1,230 | 1,625 | 1,979 | 2,776 | 3,308 | 3,377 | 4,160 | 5,401 | 5,233 | 5,248 | 5,534 | |
Operating Profit | 2,965 | 3,991 | 4,831 | 5,461 | 5,756 | 6,907 | 9,988 | 9,944 | 7,952 | 6,697 | 7,527 | 8,046 |
OPM % | 74% | 76% | 75% | 73% | 67% | 68% | 75% | 70% | 60% | 56% | 59% | 59% |
419 | -5 | 16 | 8 | 26 | 49 | -4 | 370 | 836 | 594 | 105 | 475 | |
Interest | 2,330 | 3,081 | 3,577 | 4,133 | 4,635 | 5,458 | 6,882 | 7,552 | 7,230 | 5,765 | 5,812 | 5,377 |
Depreciation | 65 | 80 | 96 | 83 | 67 | 52 | 50 | 82 | 86 | 103 | 111 | 115 |
Profit before tax | 989 | 825 | 1,175 | 1,253 | 1,079 | 1,446 | 3,052 | 2,680 | 1,472 | 1,423 | 1,709 | 3,029 |
Tax % | 26% | 28% | 28% | 32% | 3% | 12% | 27% | 37% | 36% | 26% | 10% | 24% |
730 | 595 | 855 | 857 | 1,048 | 1,278 | 2,232 | 1,700 | 949 | 1,049 | 1,536 | 2,317 | |
EPS in Rs | 3.46 | 2.82 | 4.04 | 3.97 | 4.83 | 5.11 | 9.06 | 6.90 | 3.93 | 4.33 | 6.55 | 9.32 |
Dividend Payout % | 18% | 22% | 16% | 16% | 13% | 16% | 9% | 11% | 0% | 12% | 31% | 27% |
Compounded Sales Growth | |
---|---|
10 Years: | 10% |
5 Years: | 0% |
3 Years: | 1% |
TTM: | 6% |
Compounded Profit Growth | |
---|---|
10 Years: | 14% |
5 Years: | 1% |
3 Years: | 48% |
TTM: | 74% |
Stock Price CAGR | |
---|---|
10 Years: | 11% |
5 Years: | 9% |
3 Years: | 25% |
1 Year: | 77% |
Return on Equity | |
---|---|
10 Years: | 10% |
5 Years: | 7% |
3 Years: | 7% |
Last Year: | 10% |
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
Equity Capital | 1,717 | 1,718 | 1,720 | 1,753 | 1,756 | 1,996 | 1,999 | 2,005 | 2,469 | 2,474 | 2,480 | 2,489 |
Reserves | 3,753 | 4,107 | 4,656 | 5,324 | 6,020 | 9,411 | 11,450 | 12,688 | 16,304 | 17,474 | 19,049 | 20,950 |
Preference Capital | 750 | 1,000 | 1,363 | 1,213 | 1,213 | 0 | 0 | 0 | 0 | 0 | 0 | |
28,247 | 35,854 | 42,091 | 51,616 | 59,811 | 75,248 | 91,507 | 93,934 | 88,592 | 85,237 | 83,105 | 76,603 | |
2,852 | 3,182 | 4,275 | 5,107 | 4,924 | 1,117 | 1,094 | 902 | 1,582 | 1,696 | 1,706 | 2,676 | |
Total Liabilities | 36,570 | 44,861 | 52,742 | 63,799 | 72,511 | 87,772 | 106,050 | 109,529 | 108,947 | 106,880 | 106,339 | 102,718 |
1,131 | 1,228 | 1,184 | 1,313 | 1,230 | 1,151 | 1,127 | 1,100 | 1,138 | 509 | 553 | 555 | |
CWIP | 89 | 140 | 174 | 22 | 28 | 19 | 39 | 62 | 24 | 22 | 5 | 0 |
Investments | 1,843 | 2,730 | 2,649 | 3,563 | 6,012 | 5,301 | 8,641 | 5,979 | 8,872 | 11,917 | 14,366 | 12,385 |
33,507 | 40,763 | 48,736 | 58,901 | 65,242 | 81,301 | 96,243 | 102,387 | 98,912 | 94,433 | 91,415 | 89,778 | |
Total Assets | 36,570 | 44,861 | 52,742 | 63,799 | 72,511 | 87,772 | 106,050 | 109,529 | 108,947 | 106,880 | 106,339 | 102,718 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
-6,096 | -6,083 | -6,474 | -9,213 | -5,779 | -15,640 | -11,643 | 2,162 | 5,464 | 6,078 | 7,490 | 673 | |
-1,671 | -1,032 | 2 | -675 | -2,118 | 1,549 | -3,587 | 160 | -2,025 | -5,087 | -1,634 | 849 | |
7,947 | 7,602 | 6,552 | 9,426 | 7,952 | 14,678 | 16,008 | 1,451 | -2,091 | -3,023 | -1,664 | -7,037 | |
Net Cash Flow | 180 | 487 | 81 | -461 | 55 | 587 | 777 | 3,772 | 1,349 | -2,032 | 4,193 | -5,515 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
Debtor Days | 3 | 2 | 1 | 1 | 3 | 5 | 3 | 2 | 1 | 0 | 0 | 7 |
Inventory Days | ||||||||||||
Days Payable | ||||||||||||
Cash Conversion Cycle | 3 | 2 | 1 | 1 | 3 | 5 | 3 | 2 | 1 | 0 | 0 | 7 |
Working Capital Days | 286 | 143 | 210 | 132 | 271 | -3 | 11 | 26 | 13 | 32 | 2 | -30 |
ROCE % | 10% | 10% | 10% | 10% | 9% | 9% | 10% | 10% | 8% | 7% | 8% |
Documents
Announcements
- Disclosure Under Regulation 30 Of SEBI (LODR) Regulations, 2015 ('Listing Regulations') 1 May
- Disclosure Under Regulation 30 Of SEBI (LODR) Regulations, 2015 ('Listing Regulations') 30 Apr
- Audio Recording Of Investor(S) / Analyst(S) Meet - Q4FY2023-24 And FY2024 Financial Performance And Strategy Update 29 Apr
- Disclosure Under Regulation 30 Of SEBI (LODR) Regulations, 2015 ('Listing Regulations') 29 Apr
- Announcement under Regulation 30 (LODR)-Investor Presentation 27 Apr
Annual reports
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Financial Year 2023
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Financial Year 2022
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Financial Year 2021
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Financial Year 2020
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Financial Year 2019
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Financial Year 2018
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Financial Year 2017
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Financial Year 2016
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Financial Year 2015
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Financial Year 2014
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Financial Year 2013
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Financial Year 2012
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Financial Year 2011
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Concalls
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A Core Investment Company[1] L&T Finance Ltd is registered as a CIC-ND-SI with the RBI. CIC means a systemically important core investment company. As per the apex bank, an NBFC is considered as CIC if it meets certain criteria including:
• Its asset size is at least Rs 100 cr
• It accepts public funds
• At least 90% of its total assets are in the form of investments in equity, preference shares, loan, debentures, or debt in group companies