Lends to individuals, farmers and small businesses across India, with a consolidated loan book of Rs 1,29,634 Cr as of Q1FY27. Retail loans account for roughly 98% of the book and drive nearly all earnings, while a smaller wholesale book is being run down. The retail franchise spans urban finance — personal loans, two-wheelers, consumer durables and home loans — alongside microfinance, gold loans, farmer finance and small business loans. Q1FY27 retail disbursements were Rs 23,852 Cr, up 36% year-on-year, led by urban finance disbursements of Rs 10,760 Cr (+57%) and personal loans of Rs 4,380 Cr (+126%) sourced through digital partners including CRED, Google Pay, PhonePe and Amazon. The gold loan vertical had reached 343 branches with a Rs 3,800 Cr book as of Q1FY27, with roughly 500 new branches planned for FY27. Main cost drivers are the weighted average cost of borrowing, guided at 7.35-7.40% for FY27, and employee expenses of Rs 2,455 Cr (13.7% of revenue in FY26). Asset quality is improving, with credit cost falling to 2.54% in Q1FY27 from 3.43% a year earlier and gross stage 3 at 2.86%. AR · MarketPing reader · 2026-08-03
Revenue streams, as the annual report describes them. Retail business (83%), Wholesale business (15%), Others (2%), Defocused business (1%). Retail-focused non-banking financial company, credit-cost sensitive
| ₹ crore · consolidated | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 11,930 | 12,775 | 13,581 | 15,924 | 17,914 |
| EBITDA (ex other income) | 6,685 | 4,825 | 8,046 | 9,610 | 10,925 |
| margin % | 56.0 | 37.8 | 59.2 | 60.3 | 61.0 |
| Owners' profit | 1,070 | 1,623 | 2,326 | 2,644 | 2,992 |
| EPS, as reported (₹) | 4.33 | 6.56 | 9.34 | 10.61 | 11.92 |
| ROE % · ROCE % | 5.2 · — | 7.1 · — | 9.8 · — | 10.3 · — | 10.6 · — |
| Debt / equity (x) | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Cash from operations | 6,078 | 7,490 | 673 | (16,587) | (14,189) |
| Capex | (78) | (128) | (119) | (195) | (239) |
| ₹ crore | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 4,019 | 4,098 | 4,023 | 4,260 | 4,336 | 4,578 | 4,771 | 5,243 |
| Profit before tax | 940 | 824 | 806 | 943 | 989 | 992 | 1,074 | 1,236 |
| Net profit | 697 | 626 | 636 | 701 | 735 | 738 | 809 | 916 |
| EPS (₹) | 2.79 | 2.51 | 2.55 | 2.81 | 2.94 | 2.95 | 3.22 | 3.60 |
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| JIO FIN SERVICES LTD | 1,51,806 | 71.4 | 1.13 | 64.0 | 1.2 | — | — | 70.7 |
| ADITYA BIRLA CAPITAL LTD. | 1,08,001 | 25.2 | 2.94 | 6.3 | 10.5 | — | 18.8 | 40.8 |
| L&T FINANCE LIMITED ◆ | 77,411 | 24.3 | 2.76 | 6.7 | 10.6 | — | 5.5 | 62.3 |
| TATA INVESTMENT CORP LTD | 32,839 | 76.2 | 1.12 | 90.8 | 1.5 | — | 19.5 |
| Date · filing | Category | Importance | 1-day % | 5-day % |
|---|---|---|---|---|
| 4 Sept 2026 · Newspaper ad of postal ballot notice filed with exchanges | compliance | minimal | — | — |
| 3 Sept 2026 · L&T Finance postal ballot: 2 WTD appointments, 1 Independent Director, MOA amendment | board shareholder meetings | low | — | — |
| 2 Sept 2026 · L&T Finance schedules investor meets on Sept 9 to 11, 2026 | board shareholder meetings | low | — | — |
| 2 Sept 2026 · L&T Finance raises Rs 500 cr via NCD private placement at 7.84% | fund raising | medium | — | — |
| 1 Sept 2026 · IRDAI grants Corporate Agent (Composite) registration to L&T Finance | business updates | medium | — | — |
| 28 Aug 2026 · Allotment of 3,06,752 equity shares under ESOP 2013 | capital market events | low | — | — |
| 22 Aug 2026 · L&T Finance to hold investor meetings from Aug 26 to Sep 2, 2026 | board shareholder meetings | low | — | — |
| 20 Aug 2026 · L&T Finance allots NCDs worth Rs 235 Cr via private placement | fund raising | medium | — | — |
| 13 Aug 2026 · L&T Finance allots Rs 200 Cr NCDs at 8.20 percent on private placement | fund raising | medium | — | — |
| 11 Aug 2026 · L&T Finance to attend Motilal Oswal Conference on Aug 17 | board shareholder meetings | low | — | — |
| Where a broker report shows | This document shows | Why |
|---|---|---|
| A rating (BUY / ADD / REDUCE / SELL) | A state: the latest filed quarter and the measured reactions |
| 92.6 |
| CHOLAMANDALAM FIN HOL LTD | 28,902 | 10.8 | 0.85 | 0.9 | 16.2 | — | 23.0 | 58.4 |
| TVS HOLDINGS LIMITED | 26,292 | 13.3 | 2.04 | 2.4 | 26.3 | — | 23.4 | 16.4 |
| MAHARASHTRA SCOOTERS LTD | 14,802 | 53.1 | 0.54 | — | 1.1 | — | — | 84.1 |
| JSW HOLDINGS LIMITED | 12,763 | 92.9 | 0.39 | 78.3 | 0.4 | — | 14.1 | 84.0 |
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 24.3 | 23.7 | 27 of 52 | 49% |
| P/B | 2.8 | 0.7 | 50 of 60 | 17% |
| ROE | 10.6 | 1.3 | 9 of 67 | 88% |
| Debt / Equity | 0.0 | 0.0 | 1 of 67 | 15% |
| EBITDA margin | 62.4 | 61.6 | 31 of 62 | 51% |
| Revenue growth | 23.1 | 13.6 | 25 of 56 | 56% |
| Profit growth | 30.7 | 10.7 | 30 of 66 | 55% |
| Market cap | 77411 | 376 | 3 of 65 | 97% |
| an event is a fact; a rating is an opinion that requires SEBI RA registration |
| A target price and upside | The current price and the multiples against the group | a target is a forecast; a multiple is a measurement |
| Estimate years marked E | More audited years; no estimates | MarketPing publishes no forecasts — your own model lives on the Models page |
This document is a statistical summary of publicly filed information and market data, prepared by software from primary sources: SEBI results XBRL filed with BSE and NSE, LODR disclosures, shareholding patterns, exchange price data. It contains no research recommendation, no price target and no opinion on the merits of any security, and is not a research report within the meaning of the SEBI (Research Analysts) Regulations, 2014, Regulation 2(1)(w)(vii). Financial statements are as filed (consolidated where the company files consolidated results). Ratios are computed over filed lines. Where a figure is unavailable the table shows a dash rather than an estimate. The business brief is written by MarketPing's reader from the annual report and checked against it; no figure in a table was generated by a model. Nothing here constitutes investment advice, an offer or a solicitation; readers should consult a SEBI-registered adviser before acting. MarketPing is not a SEBI-registered intermediary.
