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Prices as of 8 Oct 2026 close · Not investment advice

L&T Finance Limited

NSE: LTFNon Banking Financial Company (NBFC)

Share price

₹257.40

-1.10% close of 8 Oct 2026

Market cap ₹64,453 CrP/E 20.1

Price-based ratios (P/B, dividend yield, EV/EBITDA) are as of 5 Oct 2026, the close above is 8 Oct 2026.

Business score

How strong the business is, in one number. The parts behind it are in Pro.

67

out of 100 · worked out 8 Oct 2026

Your ratios

The numbers you want to see first. Tap Edit to change them.

Market cap

₹64,453 Cr

P/E ratio

20.1

P/B ratio

2.3

ROCE

8.4%

ROE

11.2%

Dividend yield

1.0%

Price & valuation chart

How the share price and its valuation have moved. Hover over the chart to see any day. Prices as of the last close.

Prices as of 8 Oct 2026 close52-week high ₹335.6052-week low ₹240.20

Answers

Simple answers to the questions investors ask most, from the company's own numbers.

How fast it has been growing

Sales grew 15.2% over the past year, and 12.2% a year over its longer record. Meanwhile what it keeps on lending improved from 21.3% to 23.8% over the last two years.

Whether it grew faster than its sector

It grew 12.2% a year against a sector median of 16.0% — 3.8 percentage points slower.

Room to re-rate, or risk of de-rating

At 20.1× earnings against a market that pays 23.9× across 2199 companies we can price. Its own industry sits at 22.8×, across 5 companies. It is against its own five-year median of 20.8×, the 45th percentile of its own range.

Whether growth justifies the valuation

Priced at 0.1 times its growth rate, on earnings growth of 256%.

Profit growthPrice per ₹1 profitPer 1% growth
L&T Finance Limited — this one256%/yr20.1×—
Bajaj Finance19%/yr29.0×₹1.5
Shriram Finance Limited19%/yr19.1×₹1.0
Tata Capital Limited17%/yr24.4×₹1.4
Cholamandalam Investment & Finance25%/yr22.8×₹0.91
Muthoot Finance43%/yr9.0×₹0.21

Compared with companies filed under the same label. That grouping comes from the exchange's filing category, so some of them may not be real rivals.

How it compares with its peers

Against companies the exchange files under the same label (Non Banking Financial Company (NBFC)), it ranks 26 of 73 on returns, 51 of 68 on growth. That grouping comes from the exchange's filing category, so some of them may not be real rivals.

What makes it hard to beat — and is that still true?

No durable advantage shows in the numbers: it earns 11.2% on capital, ahead of 64% of companies filed under the same label. That grouping comes from the exchange's filing category, so some of them may not be real rivals.

Whether its growth pays for itself

This question does not fit a lender: the money it lends out is its day-to-day outflow and the deposits or premiums it takes are the inflow, so a cash bridge cannot say whether its growth pays for itself. Look at the return on owners' money instead.

Profit reality check

Is the profit real cash? Simple checks on the accounts. Facts only, not advice.

Not enough filed accounts to run these checks yet.

Latest result · Q1 FY27

What the last results showed. Whether management kept its word is in Pro.

Profit rose 30.67% to Rs 915.99 crore.

Announced 10 Jul 2026 · Consolidated · Unaudited

Revenue

₹5,243 Cr

Revenue vs last year

+23.1%

Revenue vs last quarter

+9.9%

Net profit

₹916 Cr

Profit vs last year

+30.7%

Profit vs last quarter

+13.2%

Net margin

17.5%

EPS

₹3.60

Earnings call transcript · 13 Jul 2026

Checklist before you investPRO

Points for and against, in one list.

Key numbers & peers

The main numbers grouped by topic, and how the company compares with similar ones.

Price

Market cap
₹64,453 Cr
Prev close
₹257.40
52w High
₹339
52w Low
₹235
Enterprise value
—
Beta
1.6
Price CAGR 1y
1.0%
Price CAGR 3y
24.0%
Price CAGR 5y
24.0%
Price CAGR 10y
12.0%

Ratios

Return on assets
2.1%
PEG ratio
0.1
P/E ratio
20.1
P/B ratio
2.3
EV / EBITDA
—
Industry P/E
16.8
ROCE
8.4%
ROCE 5y average
—
ROE
11.2%
Debt / Equity
3.9
Interest coverage
—
Dividend yield
1.0%
ROE 3y average
11.0%
ROE last year
11.0%

Annual P&L

Annual revenue
₹17,914 Cr
Annual profit
₹2,983 Cr
Operating margin
24.0%
Net profit margin
16.7%
EBITDA margin
23.6%
Sales growth 3y
11.9%
Sales growth 5y
6.1%
Profit growth 3y
256.0%
Profit growth 5y
32.0%
EPS
₹11.9
Sales growth TTM
15.0%
Profit growth TTM
20.0%
Dividend payout
23.0%

Quarter P&L

Sales latest quarter
₹5,213 Cr
Profit latest quarter
₹916 Cr
YoY quarterly sales growth
22.4%
YoY quarterly profit growth
30.7%
OPM latest quarter
24.0%

Balance Sheet

Book Value
₹112
Face Value
₹10.0
Total debt
₹1.10L Cr
Total cash
₹7,959 Cr
Borrowings
₹1.10L Cr
Reserves / Equity
10.2

Cash Flow

Operating cash flow
-₹14,189 Cr
Free cash flow
-₹14,427 Cr
FCF yield
—
Net cash flow
₹1,593 Cr

Shareholding

Promoter holding
66.0%
FII holding
7.7%
DII holding
14.9%
Public holding
11.4%

Peer comparison

CompanyPrice ₹P/EMkt cap ₹ CrDiv yield %Profit qtr ₹ CrProfit var %Sales qtr ₹ CrSales var %ROCE %
Bajaj Finance948.3028.85,90,4070.576,080.627.423,165.518.610.9
Shriram Finance945.0019.62,22,3631.143,452.859.913,400.416.211.5
Tata Capital319.3024.91,35,5390.181,628.256.38,821.915.18.6
Cholaman.Inv.&Fn1,580.0023.51,34,9900.131,656.245.68,856.321.99.7
Muthoot Finance2,697.109.51,08,2801.112,824.838.88,671.634.415.8
L&T Finance Ltd264.3520.766,2551.04916.028.75,212.922.48.4
SBI Cards563.2023.653,5970.44664.419.55,040.63.410.1
Median134.8019.64680.0011.138.349.128.39.5

Competes with: AK Capital Services Limited, Advik Capital Limited, Akme Fintrade (India) Limited, Alfred Herbert India Limited, Arman Financial Services Limited, Aryaman Financial Services Limited, Ashika Credit Capital Limited, Ashika Global Securities Limited, Assam Entrade Limited, Authum Investment & Infrastructure Limited, Avonmore Capital & Management Services Limited, Aye Finance Limited, Baid Finserv Limited, Bajaj Finance, Balmer Lawrie Investments Limited, Bengal & Assam Company Limited, CP Capital Limited, CSL Finance Limited, Capital India Finance Limited, Capital Trust Limited, Capri Global Capital Limited, Cholamandalam Investment & Finance, Consolidated Finvest & Holdings Limited, Crest Ventures Limited, Dhunseri Investments Limited, Fedbank Financial Services Limited, Fedders Holding Limited, Finkurve Financial Services Limited, Five-Star Business Finance Limited, Grand Oak Canyons Distillery Limited, HB Stockholdings Limited, HDB Financial Services Limited, IIFL Finance Limited, IndoStar Capital Finance Limited, KJMC Financial Services Limited, Kiran Vyapar Limited, Ladderup Finance Limited, Laxmi India Finance Limited, MAS Financial Services Limited, Mahindra & Mahindra Financial Services Limited, Manappuram Finance Limited, Manba Finance Limited, Mangal Credit and Fincorp Limited, Moneyboxx Finance Limited, Mufin Green Finance Limited, Mukesh Babu Financial Services Limited, Muthoot Capital Services Limited, Muthoot Finance, N. B. I. Industrial Finance Company Limited, Naga Dhunseri Group Limited, Northern Arc Capital Limited, Odyssey Corporation Limited, Optimus Finance Limited, PTC India Financial Services Limited, Paisalo Digital Limited, Poonawalla Fincorp Limited, RSD Finance Limited, SBFC Finance Limited, SBI Cards & Payment Services, SG Finserve Limited, Saraswati Commercial India Limited, Shalibhadra Finance Limited, Shriram Finance Limited, Sonal Mercantile Limited, Starteck Finance Limited, Sundaram Finance Limited, TCI Finance Limited, Tata Capital Limited, Team India Guaranty Limited, Transwarranty Finance Limited, TruCap Finance Limited, U. Y. Fincorp Limited, Ugro Capital Limited, Vibrant Global Capital Limited, Yogi Limited

Quarterly results

Sales and profit for each of the last 13 quarters. Newest on the right. ₹ crore.

Consolidated · to 30 Jun 2026
Line itemJun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Revenue3,2233,2143,5343,6703,7844,0194,0984,0234,2604,3364,5784,7715,213
Expenses1,2701,3311,3751,6191,4821,5751,6761,5811,6401,6621,8001,8901,974
Financing Profit5905578067169509688538429841,0401,0751,1341,269
Financing Margin %18172320252421212324232424
Other Income153268476058400-25030
Interest1,3641,3251,3531,3351,3511,4761,5691,6001,6361,6341,7031,7471,970
Depreciation30282928283336414151586063
Profit before tax7147978246949229408248069439899921,0741,236
Tax %26252220262624212626262526
Net Profit531594639553685697626636701735738809916
EPS in Rs2.142.402.572.232.752.792.512.552.812.942.953.223.60

Profit & loss

Yearly sales, costs and profit for 12 years, plus the last 12 months (TTM). ₹ crore.

Consolidated · to 31 Mar 2026
Line itemMar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Revenue6,4567,4408,53210,21513,36514,10413,35311,93012,77514,25215,92417,91418,898
Expenses1,6251,9792,7763,3083,3774,1605,4015,2337,9356,1956,3046,9467,326
Financing Profit1,2541,3281,1201,4493,1052,392722932-9722,6703,6144,2344,518
Financing Margin %19181314231758-819232424
Other Income1682649-43708365942,79247416-265
Interest3,5774,1334,6355,4586,8827,5527,2305,7655,8125,3876,0076,7207,054
Depreciation96836752508286103111115139210232
Profit before tax1,1751,2531,0791,4463,0522,6801,4721,4231,7093,0293,4913,9984,291
Tax %28323122737362610242425
Net Profit8558571,0481,2782,2321,7009491,0491,5362,3172,6432,9833,198
EPS in Rs4.043.974.835.119.066.903.934.336.559.32111213
Dividend Payout %1616131691101231272623

Compounded growth

Average yearly growth over different spans, as stored. A span can cross a demerger or an acquisition.

Compounded sales growth

10 years
9%
5 years
6%
3 years
12%
TTM
15%

Compounded profit growth

10 years
13%
5 years
32%
3 years
256%
TTM
20%

Stock price CAGR

10 years
12%
5 years
24%
3 years
24%
1 year
1%

Return on equity

10 years
9%
5 years
8%
3 years
11%
Last year
11%

Balance sheet

What the company owns and what it owes, at the end of each year. ₹ crore.

Consolidated
Line itemMar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital1,7201,7531,7561,9961,9992,0052,4692,4742,4802,4892,4952,504
Reserves4,6565,4426,1389,41111,45012,68816,30417,47419,04920,95023,06925,479
Borrowing43,45452,82961,02475,24891,50793,93488,59285,23783,10576,60392,3721,10,298
Other Liabilities2,9123,7753,5931,1171,0949021,5821,6961,7062,6522,4473,903
Total Liabilities52,74263,79972,51187,7721,06,0501,09,5291,08,9471,06,8801,06,3391,02,6941,20,3841,42,184
Fixed Assets1,1841,3131,2301,1511,1271,1001,1385095535196411,308
CWIP174222819396224225364562
Investments2,6493,5636,0125,3018,6415,9798,87211,91714,36612,38511,87610,564
Other Assets48,73658,90165,24281,30196,2431,02,38798,91294,43391,41589,7541,07,8221,30,250
Total Assets52,74263,79972,51187,7721,06,0501,09,5291,08,9471,06,8801,06,3391,02,6941,20,4091,42,205

Cash flows

Real money coming in and going out each year — from the business, from investments and from loans. ₹ crore.

Consolidated
Line itemMar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity-6,474-9,213-5,779-15,640-11,6432,1625,4646,0787,490686-16,587-14,189
Cash from Investing Activity2-675-2,1181,549-3,587160-2,025-5,087-1,634849472367
Cash from Financing Activity6,5529,4267,95214,67816,0081,451-2,091-3,023-1,664-7,05015,41915,415
Net Cash Flow81-461555877773,7721,349-2,0324,193-5,515-6971,593
Free Cash Flow-6,572-9,292-5,781-15,614-11,7232,1085,4156,0017,394568-16,777-14,427

Ratios

How fast customers pay, how long stock sits, and how well capital earns — year by year.

Consolidated
Line itemMar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
ROE %13131413181244-0101111

Shareholding pattern

Who owns the company — founders (promoters), foreign funds, Indian funds and the public. In %.

Consolidated · to 30 Jun 2026
Line itemSep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Promoters666666666666666666666666
FIIs1211117.346.735.305.486.196.406.667.647.71
DIIs7.029.078.69121212131414151515
Public151414151516151413121111
No. of Shareholders6,95,0236,87,7217,11,5557,39,1807,87,2918,76,8418,46,6827,92,3747,77,4327,75,7287,48,8657,32,902

Price trend

The price as a Renko brick chart: small moves drop out so the bigger path stands out.

Change over 1 year -1.1% (₹260.24 → ₹257.40)Brick size ₹8.68 (fixed)Bricks 41
₹275₹300₹325₹257Nov '25Feb '26Apr '26Jun '26Aug '26Oct '26
Price moved up one brickPrice moved down one brickLast close ₹257.40 on 8 Oct 2026

Every brick is the same size, about one typical day's move. A new brick needs a full brick's move; turning the other way needs two. Bricks show where the price went, not where it will go.

Open interestPRO

Where option traders are positioned on this stock.

Industry numbers

The numbers that matter most in this industry, from the company's own filings.

1 when an audit qualification is filed as repetitive

0.00flag

2026-03-31

capital adequacy (CRAR) %

17.89pct

2026-06-30

cost-to-income %

39.50

credit cost

2.54pct

2026-06-30

the company's own unlisted debt securities in default at period end

0.00cr

2026-06-30

disbursements

23,852inr_cr

2026-06-30

gross NPA %

2.48

the company's own loans / revolving facilities in default at period end (standalone filing)

0.00cr

2026-06-30

total loans / revolving facilities outstanding at period end, the base of loan_default_cr

0.00cr

2026-06-30

net NPA %

0.77

net interest margin %

8.54pct

2026-06-30

guarantees / comfort given for promoter, promoter group, directors and KMP

0.00cr

2026-09-30

loans outstanding to promoter, promoter group, directors and KMP (governance filing)

0.00cr

2026-09-30

security given for the borrowing of promoter, promoter group, directors and KMP

0.00cr

2026-09-30

provision coverage %

69.00pct

2026-06-30

FY revenue / permanent employees + workers, same basis (calc)

43,37,425inr

2026-03-31

return on assets %

2.48

News

News and filings about L&T Finance Limited. Open one to see why it matters.

No recent news for this company.

Supply chain

Who it buys from, sells to and competes with — as recorded in our map of company links.

Competes with

Depends on the price of

  • Bond Markets
  • Interest Rates

Products sold by

About

What the company is, from our own records: where it sits, where it makes things, and what it is made of.

Sector
Financial Services
Industry
Non Banking Financial Company (NBFC)
Classification
Financial Services › Non Banking Financial Company (NBFC)
ISIN
INE498L01015

News impact

Big market events that reach L&T Finance Limited, and how the effect spreads.

Who it hits first

  • Bajaj Finance, India's large consumer lender, approved raising Rs 11,700 crore by selling new shares to big investors (a QIP) plus Rs 5,800 crore of warrants (rights to buy shares later) to its parent Bajaj Finserv, totalling Rs 17,500 crore.
  • Existing Bajaj Finance shareholders face dilution (their slice shrinks) because new shares are created, which helps explain the 10% slide in the past month.
  • Bajaj Finserv, the parent holding company, will pay up to Rs 5,800 crore to take the warrants, lifting its stake if it converts them, pending regulatory approvals.

Who may gain

  • Bajaj Finance long-term: a stronger capital base to grow loans once the Rs 17,500 crore lands
  • New QIP buyers: typically get large blocks at a small discount to the market price
  • Bajaj Finserv long-term: a bigger ownership stake in a better-capitalised lender

Along the supply chain

Downstream

No downstream product change — borrowers and partners see no change in loans or terms from the QIP itself; any benefit comes later if the new capital funds faster lending.

Upstream

No direct supply-chain link — a share sale does not change what Bajaj Finance buys from vendors such as Quess (staffing services) or Xtranet; purely a capital-flow event.

Where demand moves

Business

No change in borrower demand for loans — people do not borrow more or less because a lender sells shares; this is a balance-sheet event, not a loan-demand event.

Capital

Fresh equity supply of Rs 17,500 crore: Rs 11,700 crore of new Bajaj Finance shares to institutions via QIP, and Rs 5,800 crore of warrants to Bajaj Finserv, bringing cash in but diluting existing holders until the money is deployed into loan growth.

How it spreads across sectors

Financial Services

Company-specific dilution with no sector readthrough — rival lenders face no change in loan demand; at most a mild watch on a better-capitalised Bajaj Finance competing harder over time.

When it plays out

Immediate

QIP pricing and discount news drives near-term price pressure on Bajaj Finance as the market reprices dilution; Bajaj Finserv trades with the funding overhang.

Medium term

Market judges whether the Rs 17,500 crore turns into faster loan growth and stable asset quality (defaults), which decides if dilution pays off.

Short term

Regulatory approvals and QIP allotment confirm dilution and cash received; volatility fades once placement size and price are known.

1 Oct, 22:35 IST · Market event · medium impact

Mahindra, Embraer pick Nagpur for C-390 assembly line

Mahindra and Embraer will build a C-390 military aircraft assembly line in Nagpur, helping Mahindra's defence business and local suppliers, with no clear loser.

Capital Goods

Who it hits first

  • Mahindra & Mahindra, the Indian maker of SUVs, tractors and farm gear, will set up an assembly line in Nagpur with Embraer, the Brazilian planemaker, to build C-390 military transport planes in India.
  • The plant will also handle local parts sourcing and repair and maintenance work, under the government's Make in India push.
  • This is a slow-building defence project: site selection now, production and revenue only after the line is built and orders flow.

Who may gain

  • Mahindra & Mahindra (SUV, tractor and defence maker): a new long-term defence revenue stream.
  • Local Nagpur suppliers and maintenance shops: future parts and servicing work as the line ramps up.

Along the supply chain

Downstream

Downstream, the buyers would be the Indian armed forces and possible export customers, plus maintenance providers, once planes roll out years from now.

Upstream

Upstream, Indian metal, parts and systems makers could eventually feed the Nagpur line, but the pack names no confirmed supplier, so no supplier gains work today.

Where demand moves

Business

Business demand flows to Mahindra's defence unit first: aircraft assembly, then spare parts and repair contracts over the plane's long service life.

Capital

Investor money may tilt slightly toward Mahindra and listed defence suppliers on the news, but with no orders or revenue figures yet, this is re-rating hope rather than fresh cash flow.

How it spreads across sectors

Automobile and Auto Components

Neutral: the C-390 line does not change car, SUV or tractor sales or parts demand.

Capital Goods

Mildly positive: a new defence assembly line supports the Make-in-India order outlook for aerospace and defence manufacturers.

Financial Services

No link: aircraft assembly does not move lending, deposits or credit costs.

When it plays out

Immediate

In the first week, expect headline-driven chatter in Mahindra shares and defence stocks, fading fast without order details.

Medium term

Over one to six months, the line's construction pace and any Indian Air Force order signals decide whether this becomes real revenue.

Short term

Over the next few weeks, watch for government approvals, order hints or investment figures that would make the story concrete.

Dividends, splits & big trades

Money paid out, share splits and buybacks, and big buys or sells by funds and insiders.

Dividends

22 May 2026unspecified₹2.75
27 May 2025unspecified₹2.75
18 Jun 2024unspecified₹2.5
21 Jul 2023unspecified₹2
1 Jul 2022unspecified₹0.5
26 Mar 2020interim₹0.9
19 Jul 2019unspecified₹1
20 Aug 2018unspecified₹1

Splits, bonuses & buybacks

  • daily-prices repair: 9 rows from NSE's archive (replace 1, delete 1, insert 7), 2016-10-30..2026-02-01 (docs/flat_day_repair.md)1× · 30 Oct 2016

Documents

Annual reports, results presentations and earnings calls, straight from the source.

Facts from company filings and exchange data. Not investment advice: nothing here tells you to buy or sell.