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L&T Finance

LTF NSE
₹263.70 +11.08 (+4.39%)
P/E
20.75
View as Markdown
MCP
Close 4 Nov 2026 ₹263.70 −11.50 −4.18% 1Y
Start ₹275.20

Key Fundamentals

MidcapFinanceFinancial Services

Price-based figures as of · EPS basis: Consolidated · TTM

Debt to Equity
3.94
EPS (TTM)
₹12.71
Book Value
₹116.77
Market Cap
—
P/E (TTM)
20.75
P/B
2.26
ROE
11.20%
Dividend Yield
1.09%
52W High
₹338.60
52W Low
₹229.20
Day Range
₹250.41 – ₹263.70
Volume
51,67,916
ROCE
Not meaningful for a lender: the ratio describes an industrial company’s balance sheet
EBITDA
Not meaningful for a lender: the ratio describes an industrial company’s balance sheet

Peer Comparison

Financial Services › Investment Company › Non Banking Financial Company (NBFC)

L&T Finance peer comparison
Bajaj Finance
₹994.0028.53₹6,11,015 Cr5.020.62%18.20%—₹90,331 Cr₹22,067 Cr
Shriram Finance
₹908.7515.19₹2,13,704 Cr1.920.73%16.40%—₹51,877 Cr₹12,688 Cr
Cholamandalam Investment
₹1,658.0024.45₹1,42,243 Cr4.100.12%19.40%—₹32,663 Cr₹5,751 Cr
Tata Capital
₹337.7526.24₹1,41,036 Cr2.930.17%12.40%—₹32,695 Cr₹5,478 Cr
Muthoot Finance
₹2,709.809.57₹1,04,354 Cr2.481.19%30.90%—₹33,431 Cr₹11,457 Cr
L&T Finance (this company)
₹263.7020.75₹63,912 Cr2.261.09%11.20%—₹18,898 Cr₹3,198 Cr
SBI Cards
₹553.0023.14₹52,160 Cr3.060.47%14.70%—₹20,063 Cr₹2,275 Cr
Median 7 companies₹908.7523.14₹1,41,036 Cr2.930.62%16.40%—₹32,695 Cr₹5,751 Cr

Comparable companies in the same industry. Market cap, P/E and P/B use the latest price; other metrics are as reported in filings. A dash means the figure is not published for that company.

Tapetide Score

Data-driven rating, 0–100, as of . How it works →

Overall score

40 Weak

Data confidence 94/100

Category scores

Quality
14
Poor
Returns, margins, earnings quality 22% weight
Valuation
60
Good
Cheap vs sector & own history 24% weight
Growth
53
Average
Sales & profit trajectory 9% weight
Financial Health
33
Poor
Solvency, leverage, coverage 9% weight
Momentum
20
Poor
Trend strength, vol-adjusted 12% weight
Ownership
54
Average
FII/DII/promoter flows 24% weight

The Tapetide Score is data analysis, not investment advice. Tapetide is not a SEBI-registered research analyst or investment adviser.

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

4
  • 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

Technical Indicators

Technical signals: verdict and indicator counts
GroupSignalBearishNeutralBullish
OverallBearish847
OscillatorsBullish243
Moving AveragesStrong Bearish604

Key readings

RSI (14)
52.25
Neutral
MACD (12,26,9)
−7.83
Bullish
SMA (50)
281.61
Bearish
SMA (200)
287.42
Bearish

As of

Analyst Rating

Based on 20 analysts
BUY80%

16 of 20 analysts rate Buy, 3 Hold, 1 Sell.

As of

BUY
16
80%
HOLD
3
15%
SELL
1
5%

Growth Rate

From the financial statements below. 10Y, 5Y, 3Y: compound annual growth to Mar 2026; 1Y: fiscal year to Mar 2026 against Mar 2025; TTM: four quarters to Jun 2026 against Jun 2025.

Revenue

Revenue growth by window
10Y+9.18%
5Y+6.05%
3Y+11.93%
1Y+12.50%
TTM+15.23%

Net profit

Net profit growth by window
10Y+13.28%
5Y+25.74%
3Y+24.76%
1Y+12.86%
TTM+20.23%

Operating cash flow

Not meaningful

A bank's or NBFC's operating cash flow moves with deposits and loans, so its growth says little about the business.

Revenue by year

Revenue by year, ₹ crore
Mar 2017₹8,532 Cr
Mar 2018₹10,215 Cr
Mar 2019₹13,365 Cr
Mar 2020₹14,104 Cr
Mar 2021₹13,353 Cr
Mar 2022₹11,930 Cr
Mar 2023₹12,775 Cr
Mar 2024₹14,252 Cr
Mar 2025₹15,924 Cr
Mar 2026₹17,914 Cr

Net profit by year

Net profit by year, ₹ crore
Mar 2017₹1,048 Cr
Mar 2018₹1,278 Cr
Mar 2019₹2,232 Cr
Mar 2020₹1,700 Cr
Mar 2021₹949 Cr
Mar 2022₹1,049 Cr
Mar 2023₹1,536 Cr
Mar 2024₹2,317 Cr
Mar 2025₹2,643 Cr
Mar 2026₹2,983 Cr

Analyst Forecasts

Forecast For
FY27 consensus · EBITDA
₹5,754 Cr −47.5% vs FY26
Reported High Mean Low

AI Analysis — Bull vs Bear

Figures as of 2 Nov 2026
AI opinion · based on fundamentals
Risk medium

L&T Finance Ltd trades at ₹251.5 with a market capitalisation of ₹61,829 Cr as of 2 November 2026. The stock carries a trailing PE of 19.79 and a price-to-book of 2.15, while return on equity stands at 10.64%. The company shows a sharp divergence between strong profit compounding and subdued revenue growth over the medium term.

Bull Case 7
  • Compounded profit growth of 32% CAGR over the last 5 years demonstrates a sustained improvement in earnings power
  • TTM sales growth of 15% indicates an acceleration in the top line relative to the 5-year sales CAGR of 6%
  • TTM profit growth of 20% shows continued earnings momentum in the most recent period
  • 3-year compounded profit growth of 256% reflects a dramatic turnaround from a low base, signalling a structural shift in profitability
  • Healthy dividend payout ratio of 25.3% provides a degree of capital return to shareholders, with a current dividend yield of 1.13%
  • Stock has compounded at 23% CAGR over 5 years and 25% CAGR over 3 years, materially outpacing the 10-year CAGR of 11%
  • 10-year compounded profit growth of 13% alongside a 10-year stock CAGR of 11% suggests long-term earnings expansion has been broadly reflected in share price appreciation
Bear Case 6
  • 5-year compounded sales growth of just 6% is weak for a financial services company and raises questions about the sustainability of profit growth without corresponding revenue scale-up
  • Return on equity of 10.64% (and a 3-year average of roughly 11%) is modest relative to the price-to-book multiple of 2.15, implying the market prices in improvement that has yet to materialise fully
  • Potential capitalisation of interest costs may overstate reported profitability and net asset values, warranting closer scrutiny of accounting policies
  • The stock trades 25.7% below its 52-week high of ₹338.6, indicating significant negative price momentum over recent quarters
  • ROCE of 10.11% is only marginally below ROE of 10.64%, suggesting limited benefit from financial leverage despite operating as a leveraged lending institution
  • 10-year compounded sales growth of 9% has not kept pace with the broader financial services sector expansion in India, hinting at competitive or structural headwinds

This is AI-generated analysis, not financial advice. Do your own due diligence.

AI News Digest

9h ago

TL;DR: L&T Finance is delivering strong earnings momentum with Q2FY27 PAT up 32% and healthy loan book growth of 12%. Its AI-native strategy is progressing from vision to execution, with startup partners now operationally integrated. No material headwinds surfaced in recent news flow. The trajectory is improving, though sustaining this growth rate amid rising competition in retail lending will be the key watch item going forward.

Positives 2
  • Q2FY27 PAT surges 32% Oct 15

    Consolidated PAT rose 32.4% YoY to ₹972.76 crore in Q2FY27, with loan book up 12.2% YoY and interest income growing 27.8% YoY.

  • AI startup platform scales up Nov 04

    L&T Finance launched Pitch Point 2.0, its AI startup launchpad ahead of RAISE 26 on December 16, 2026. Past winners like Arrowhead AI are now deployed as LTF's voice AI partner across verticals, signaling real enterprise AI integration.

Neutral 3
  • ₹1,500 crore NCD allotment Oct 21

    L&T Finance allotted ₹1,500 crore in secured NCDs via private placement at a 7.84% fixed coupon, maturing September 28, 2029.

  • Investor roadshows in Asia Oct 19

    Non-deal roadshows scheduled in Singapore and Hong Kong from October 26–30, 2026, targeting institutional investors.

  • Postal ballot approvals passed Oct 06

    Four resolutions passed on October 6, 2026, including appointments of Sachinn Joshi and Raju Dodti as Whole-Time Directors.

Quarterly Results

₹ Cr
LTF quarterly results, ₹ crore
Particulars Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 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 (₹)
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

₹ Cr
LTF profit and loss, annual, ₹ crore
Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
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
16.74
−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 (₹)
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

₹ Cr
LTF balance sheet, annual, ₹ crore
Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 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

₹ Cr
LTF cash flow, annual, ₹ crore
Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 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

LTF financial ratios, annual
Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
ROE %
13%
13%
14%
13%
18%
12%
4%
4%
0%
10%
11%
11%

Insights

Beta

AI-extracted from concalls & annual reports · figures as reported, with sources

Log in to view L&T Finance insights

51 extracted metrics across FY10–FY27.

Shareholding Pattern

As of Sep 2026

  • Promoters 65.93%
  • DIIs 15.79%
  • Public 9.38%
  • FIIs 7.38%
  • Others 1.51%

No promoter shares pledged as of Sep 2026

Change vs previous quarter

Not shown for some quarters: Others. Not available separately for this quarter: the shareholding filing gives Public and Others as one figure, shown under Public, so Others is left blank rather than estimated.

Documents

Frequently Asked Questions about L&T Finance

What does L&T Finance Ltd do?
L&T Finance Ltd. is a NBFC, offering a range of financial products and services. Company has filed requisite application for necessary registration as Systemically Important Non- Deposit Accepting Core Investment Company (NBFC-CIC)
Where is L&T Finance Ltd (LTF) listed?
L&T Finance Ltd trades as LTF on the NSE and under code 533519 on the BSE.
Which sector does L&T Finance Ltd belong to?
L&T Finance Ltd is classified under the Financial Services sector, in the Investment Company industry.
What is the PE ratio of L&T Finance Ltd?
L&T Finance Ltd trades at a PE ratio of 20.75 as of 4 Nov 2026, on earnings per share of ₹12.71, against a book value of ₹116.77 per share.
What is the 52-week high and low of L&T Finance Ltd?
Over the last 52 weeks L&T Finance Ltd has traded between ₹229.2 and ₹338.6 as of 4 Nov 2026.
Does L&T Finance Ltd pay dividends?
L&T Finance Ltd has a dividend yield of 1.09%.
What is the Return on Equity (ROE) of L&T Finance Ltd?
L&T Finance Ltd reported a return on equity of 11.20%. Its debt-to-equity ratio is 3.94.

Company Information

L&T Finance Ltd. is a NBFC, offering a range of financial products and services. Company has filed requisite application for necessary registration as Systemically Important Non- Deposit Accepting Core Investment Company (NBFC-CIC)

Website ltfs.com
Listed 12 Aug 2011
Face Value ₹10

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