NSE: LAXMIINDIA · BSE: 544465
LAXMI INDIA FINANCE LTD
Provides secured loans to MSMEs and retail borrowers in semi-urban and rural India through a branch-led model with 176 outlets across six states (Rajasthan, Madhya Pradesh, Gujarat, Chhattisgarh, Uttar Pradesh, Maharashtra). Each branch handles sourcing, underwriting, servicing and collection on the ground, with credit managers visiting borrowers in person. The loan book (AUM) at end-FY26 was INR 1,626 crore, with 98% secured against physical collateral and 37% of customers borrowing for the first time. Earnings come from net interest income on this book — FY26 NII of INR 161.78 crore on total income of INR 317.03 crore — at a net interest margin of 11.26%. The principal cost is interest on borrowings, with the average rate at 10.8% in FY26 (down from 11.48%) and incremental cost at 10.25-10.30%; employee costs are 22.9% of revenue and other operating expenses 8.6%. Asset quality was moderate, with gross NPA at 2.13% and net NPA at 1.08% at end-FY26, and INR 11 crore was provisioned against an Up Money exposure. The August 2025 IPO raised INR 165.17 crore of fresh equity, lifting capital adequacy to 26.12%. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Net interest income on secured loans. Branch-led, secured NBFC lending to MSMEs and retail in semi-urban and rural India
Exhibit 1: Financial summary, FY26–FY26 (all audited; no estimate years)
| ₹ crore · standalone | FY26 |
|---|---|
| Revenue | 317 |
| EBITDA (ex other income) | 203 |
| margin % | 64.1 |
| Owners' profit | 50 |
| EPS, as reported (₹) | 10.20 |
| ROE % · ROCE % | 10.7 · — |
| Debt / equity (x) | — |
| Cash from operations | (280) |
| Capex | (6) |
Exhibit 2: Quarterly performance, last 5 quarters
| ₹ crore | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|
| Revenue | 70 | 76 | 79 | 93 | 93 |
| Profit before tax | 13 | 13 | 13 | 27 | 22 |
| Net profit | 10 | 9 | 10 | 21 | 17 |
| EPS (₹) | 2.34 | 1.90 | 1.90 | 4.06 | 3.17 |
Exhibit 3: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 7 Oct 2026 · Routine filing of dematerialisation certificate for Q2 FY27 | compliance | minimal | — | — |
| 26 Sept 2026 · Trading window closed from Oct 1 ahead of Q2 and H1 FY27 results | compliance | minimal | — | — |
| 18 Sept 2026 · V.M. & Associates appointed as Secretarial Auditor for 5-year term | management changes | medium | — | — |
| 18 Sept 2026 · AGM 2026 voting results: all 4 resolutions passed unanimously | board shareholder meetings | medium | — | — |
| 18 Sept 2026 · All 4 AGM resolutions passed unanimously | board shareholder meetings | low | — | — |
| 16 Sept 2026 · Laxmi India Finance 29th AGM: 4 resolutions passed, FY26 growth detailed | board shareholder meetings | low | — | — |
| 16 Sept 2026 · Laxmi India Finance 29th AGM: resolutions passed and FY26 highlights | board shareholder meetings | medium | — | — |
| 2 Sept 2026 · Laxmi India Finance allots Rs 100 crore NCDs at 10.50% coupon | fund raising | medium | — | — |
| 2 Sept 2026 · Laxmi India Finance allots INR 100 Crore NCDs at 10.50% via private placement | fund raising | medium | — | — |
| 26 Aug 2026 · Laxmi India Q1 Analyst Meet: AUM at Rs 1,721 Crore, Profit Up 70%, Borrowing Cost Falls | investor communications | medium | — | — |
How to read this document
| Where a broker report shows | This document shows | Why |
|---|---|---|
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| 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 |
Sources, method and disclosures
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.