L&T Finance Ltd

L&T Finance Ltd

₹ 180 -0.89%
18 Jun 11:59 a.m.
About

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]

Key Points

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

  • Market Cap 44,863 Cr.
  • Current Price 180
  • High / Low 186 / 115
  • Stock P/E 19.4
  • Book Value 94.2
  • Dividend Yield 1.38 %
  • ROCE 8.22 %
  • ROE 10.3 %
  • Face Value 10.0

Pros

  • Company has been maintaining a healthy dividend payout of 103%

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 4.81% 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

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024
3,415 3,054 2,958 2,971 2,947 2,988 3,138 3,432 3,243 3,223 3,214 3,534 3,672
1,237 1,405 1,312 1,299 1,228 1,388 1,236 1,356 1,309 1,270 1,331 1,375 1,621
Operating Profit 2,178 1,649 1,646 1,672 1,719 1,600 1,902 2,076 1,934 1,953 1,882 2,159 2,051
OPM % 64% 54% 56% 56% 58% 54% 61% 60% 60% 61% 59% 61% 56%
172 109 134 180 172 187 165 -448 202 153 268 47 6
Interest 1,609 1,510 1,445 1,407 1,392 1,413 1,438 1,501 1,445 1,364 1,325 1,353 1,335
Depreciation 22 23 28 24 28 27 27 28 29 30 28 29 28
Profit before tax 718 226 306 420 470 346 601 99 662 714 797 824 694
Tax % 63% 22% 27% 27% 27% 25% 32% -356% 37% 26% 25% 22% 20%
266 177 223 308 341 261 406 453 417 531 594 639 553
EPS in Rs 1.08 0.72 0.91 1.32 1.38 1.06 1.64 1.83 2.02 2.14 2.40 2.57 2.23
Raw PDF

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 7,935 5,524
Operating Profit 2,965 3,991 4,831 5,461 5,756 6,907 9,988 9,944 7,952 6,697 4,840 8,057
OPM % 74% 76% 75% 73% 67% 68% 75% 70% 60% 56% 38% 59%
419 -5 16 8 26 49 -4 370 836 594 2,792 474
Interest 2,330 3,081 3,577 4,133 4,635 5,458 6,882 7,552 7,230 5,765 5,812 5,387
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% 268%
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: 1580%
Stock Price CAGR
10 Years: 11%
5 Years: 11%
3 Years: 26%
1 Year: 54%
Return on Equity
10 Years: 9%
5 Years: 6%
3 Years: 5%
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 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 2,652
Total Liabilities 36,570 44,861 52,742 63,799 72,511 87,772 106,050 109,529 108,947 106,880 106,339 102,694
1,131 1,228 1,184 1,313 1,230 1,151 1,127 1,100 1,138 509 553 519
CWIP 89 140 174 22 28 19 39 62 24 22 5 36
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 89,754
Total Assets 36,570 44,861 52,742 63,799 72,511 87,772 106,050 109,529 108,947 106,880 106,339 102,694

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 6,718 673
-1,671 -1,032 2 -675 -2,118 1,549 -3,587 160 -2,025 -5,087 -862 849
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 -18
ROCE % 10% 10% 10% 10% 9% 9% 10% 10% 8% 7% 5% 8%

Shareholding Pattern

Numbers in percentages

15 Recently
Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024
63.59% 63.53% 63.50% 66.26% 66.23% 66.20% 66.15% 66.11% 66.10% 66.02% 65.90% 65.86%
8.79% 8.25% 7.86% 6.91% 6.61% 6.75% 11.24% 11.35% 13.90% 12.11% 10.67% 11.04%
6.57% 6.57% 6.11% 4.57% 5.34% 5.35% 6.05% 6.58% 5.29% 7.02% 9.07% 8.69%
21.05% 21.66% 22.53% 22.26% 21.82% 21.69% 16.56% 15.96% 14.73% 14.85% 14.36% 14.39%
No. of Shareholders 7,05,2297,20,6297,67,7157,86,1137,63,7097,50,8857,07,0707,08,2376,63,7696,95,0236,87,7217,11,555

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

Click on the line-items to see the names of individual entities.

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