L&T Finance Ltd.
LTFFinancial Services filings
We hold this company’s filings and have not read the financial statements out of them yet. Every filing on record is listed under filings, and each one opens.
Earnings calls
18 transcript(s)/analyst meet(s) served; 3 document(s) on file are not transcripts (cover letters, duplicates, unresolved) and are excluded. Speaker attribution is shown only where the segmenter attributes ≥ 95% of sentences to management or analysts (0 of 18 documents here); elsewhere sentences render unattributed.
| Kind | Date | Period | Served | Attribution rate |
|---|---|---|---|---|
| ANALYST_MEET | 20220510 | 2022-03-31 | yes | |
| TRANSCRIPT | 20220727 | 2022-06-30 | yes | |
| TRANSCRIPT | 20221031 | 2022-09-30 | yes | |
| TRANSCRIPT | 20230123 | 2022-12-31 | yes | |
| TRANSCRIPT | 20240201 | 2022-12-31 | yes | |
| ANALYST_MEET | 20230509 | 2023-03-31 | yes | |
| TRANSCRIPT | 20230727 | 2023-06-30 | yes | |
| TRANSCRIPT | 20240725 | 2023-06-30 | yes | |
| TRANSCRIPT | 20231031 | 2023-09-30 | yes | |
| TRANSCRIPT | 20241028 | 2023-09-30 | yes | |
| TRANSCRIPT | 20250128 | 2023-12-31 | yes | |
| TRANSCRIPT | 20240507 | 2024-03-31 | yes | |
| TRANSCRIPT | 20250506 | 2024-03-31 | yes | |
| DUPLICATE | 20240725 | 2024-06-30 | no | |
| TRANSCRIPT | 20250728 | 2024-06-30 | yes | |
| TRANSCRIPT | 20251027 | 2024-09-30 | yes | |
| TRANSCRIPT | 20241202 | 2024-12-31 | yes | |
| TRANSCRIPT | 20260505 | 2025-03-31 | yes | |
| TRANSCRIPT | 20260720 | 2025-06-30 | yes | |
| DUPLICATE | 20251027 | 2025-09-30 | no | |
| TRANSCRIPT | 20251113 | 2025-09-30 | yes | |
| TRANSCRIPT | 20260127 | 2025-12-31 | yes | |
| DUPLICATE | 20260505 | 2026-03-31 | no |
LTF
files as a non-banking financial company. Every figure below opens to the filing it was read from; where a figure is not shown, the reason is printed in its place.
Identity
| Statement division | nbfc |
| Scope served | consolidated |
| Panels on this page | 4 |
Market
No split, bonus or consolidation is on record for this company inside the period this price series covers, so the closes need no adjustment.
| Last close | 282.00 |
| 52-week range | 236.29 – 335.6 |
| Return 1M | -11.74% |
| Return 3M | -5.69% |
| Return 1Y | 14.25% |
| Return 3Y | 126.96% |
| Return 5Y | 230.02% |
| Market capitalisation | not shown — we could not confirm it |
| Shares outstanding | not shown — we could not confirm it |
| P/E | not shown — we could not confirm it |
| P/B | not shown — we could not confirm it |
| EV/EBITDA | not shown — we could not confirm it |
Latest quarter filed — period ending 2026-06-30
In INR crore except per-share figures. `period_id` is the period the filing names for the number; the date beside each cell is when it was filed.
| Revenue from operations | 5,243.00 |
| Other income | 0.00 |
| Total income | 5,243.00 |
| Cost of materials consumed | 0.00 |
| Purchases of stock-in-trade | 0.00 |
| Changes in inventories | 0.00 |
| Employee benefit expense | 698.00 |
| Finance costs | 1,970.00 |
Ownership — 2026-06-30, and the change from 2026-03-31
| Holder | Per cent | Change |
|---|---|---|
| promoter and promoter group | 0.66 | -0.00 |
| institutions foreign | 0.08 | 0.00 |
| institutions domestic | 0.15 | 0.00 |
| mutual funds | 0.12 | 0.00 |
| public | 0.34 | 0.00 |
Documents on file
| Class | Most recent | On file |
|---|---|---|
| ANALYST_MEET | 2023-03-31 | 2 |
| DUPLICATE | 2026-03-31 | 3 |
| TRANSCRIPT | 2025-12-31 | 18 |
Financial statements
Filed results, consolidated, in INR crore except per-share figures. Every figure opens to the filing it was read from. Quarterly and annual columns are the periods the filing itself names, never a document date.
Quarterly results, as filed
| Line | 2022-03-31 | 2022-12-31 | 2023-03-31 | 2023-06-30 | 2023-09-30 | 2023-12-31 | 2024-03-31 | 2024-06-30 | 2024-09-30 | 2024-12-31 | 2025-03-31 | 2025-06-30 | 2025-09-30 | 2025-12-31 | 2026-03-31 | 2026-06-30 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue from operations | 2,947.00 | 3,432.00 | 3,216.00 | 3,223.00 | 3,214.00 | 3,534.00 | 3,672.00 | 3,785.00 | 4,019.00 | 4,098.00 | 4,023.00 | 4,260.00 | 4,336.00 | 4,578.00 | 4,771.00 | 5,243.00 |
| Other income | 120.00 | 59.00 | 202.00 | 153.00 | 268.00 | 47.00 | 6.00 | 0.00 | 5.00 | 8.00 | 4.00 | 0.00 | 0.00 | 3.00 | 0.00 | 0.00 |
| Total income | 3,067.00 | 3,491.00 | 3,418.00 | 3,377.00 | 3,482.00 | 3,581.00 | 3,677.00 | 3,785.00 | 4,024.00 | 4,105.00 | 4,027.00 | 4,260.00 | 4,336.00 | 4,581.00 | 4,771.00 | 5,243.00 |
| Cost of materials consumed | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Purchases of stock-in-trade | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Changes in inventories | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Employee benefit expense | 302.00 | 372.00 | 395.00 | 406.00 | 449.00 | 451.00 | 501.00 | 519.00 | 549.00 | 579.00 | 569.00 | 552.00 | 593.00 | 650.00 | 660.00 | 698.00 |
| Finance costs | 1,392.00 | 1,501.00 | 1,445.00 | 1,364.00 | 1,325.00 | 1,353.00 | 1,335.00 | 1,351.00 | 1,476.00 | 1,569.00 | 1,600.00 | 1,636.00 | 1,634.00 | 1,703.00 | 1,747.00 | 1,970.00 |
| Depreciation and amortisation | 28.00 | 28.00 | 29.00 | 30.00 | 28.00 | 29.00 | 28.00 | 28.00 | 33.00 | 36.00 | 41.00 | 41.00 | 51.00 | 58.00 | 60.00 | 63.00 |
| Other expenses | 273.00 | 342.00 | 363.00 | 342.00 | 383.00 | 410.00 | 452.00 | 418.00 | 376.00 | 442.00 | 393.00 | 456.00 | 424.00 | 399.00 | 481.00 | 506.00 |
| Total expenses | 2,648.00 | 2,885.00 | 2,755.00 | 2,663.00 | 2,685.00 | 2,757.00 | 2,983.00 | 2,862.00 | 3,084.00 | 3,281.00 | 3,222.00 | 3,316.00 | 3,347.00 | 3,561.00 | 3,697.00 | 4,007.00 |
| Profit before exceptional items and tax | 419.00 | 606.00 | 662.00 | 714.00 | 797.00 | 824.00 | 694.00 | 922.00 | 940.00 | 824.00 | 806.00 | 943.00 | 989.00 | 1,021.00 | 1,074.00 | 1,236.00 |
| Exceptional items | 0.00 | -2,687.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | -29.00 | 0.00 | 0.00 |
| Profit before tax | 419.00 | -2,081.00 | 662.00 | 714.00 | 797.00 | 824.00 | 694.00 | 922.00 | 940.00 | 824.00 | 806.00 | 943.00 | 989.00 | 992.00 | 1,074.00 | 1,236.00 |
| Current tax | 106.00 | 683.00 | -328.00 | 229.00 | 70.00 | 150.00 | 267.00 | 243.00 | 240.00 | 202.00 | 81.00 | 256.00 | 205.00 | 298.00 | 311.00 | 402.00 |
| Deferred tax | 23.00 | -1,036.00 | 573.00 | -46.00 | 133.00 | 35.00 | -126.00 | -6.00 | 3.00 | -4.00 | 89.00 | -14.00 | 49.00 | -44.00 | -47.00 | -82.00 |
| Tax expense | 129.00 | -354.00 | 246.00 | 183.00 | 203.00 | 185.00 | 141.00 | 237.00 | 243.00 | 198.00 | 170.00 | 242.00 | 254.00 | 254.00 | 265.00 | 320.00 |
| Profit for the period | 341.00 | 453.00 | 417.00 | 531.00 | 594.00 | 639.00 | 553.00 | 685.00 | 697.00 | 626.00 | 636.00 | 701.00 | 735.00 | 738.00 | 809.00 | 916.00 |
| Profit attributable to owners | 342.00 | 454.00 | 501.00 | 531.00 | 595.00 | 640.00 | 560.00 | 686.00 | 696.00 | 626.00 | 636.00 | 701.00 | 735.00 | 739.00 | 850.00 | 902.00 |
| Profit attributable to non-controlling interests | -1.00 | -1.00 | -84.00 | -0.00 | -1.00 | -1.00 | -1.00 | -0.00 | 1.00 | -1.00 | -0.00 | -0.00 | 0.00 | -1.00 | 3.00 | 14.00 |
| Other comprehensive income | -20.00 | 131.00 | 0.00 | 7.00 | -7.00 | -0.00 | 6.00 | 6.00 | 0.00 | 5.00 | 8.00 | -30.00 | 11.00 | -15.00 | 44.00 | -1.00 |
| Total comprehensive income | 321.00 | 584.00 | 417.00 | 538.00 | 587.00 | 639.00 | 559.00 | 692.00 | 697.00 | 630.00 | 644.00 | 671.00 | 746.00 | 723.00 | 853.00 | 915.00 |
| Earnings per share, basic | 1.39 | 1.83 | 2.02 | 2.14 | 2.40 | 2.57 | 2.23 | 2.75 | 2.79 | 2.51 | 2.55 | 2.81 | 2.94 | 2.95 | 3.22 | 3.60 |
| Earnings per share, diluted | 1.39 | 1.83 | 2.02 | 2.13 | 2.39 | 2.57 | 2.22 | 2.74 | 2.78 | 2.50 | 2.54 | 2.80 | 2.93 | 2.94 | 3.21 | 3.59 |
| Interest earned | 2,919.00 | 3,322.00 | 3,211.00 | 3,116.00 | 3,169.00 | 3,306.00 | 3,323.00 | 3,453.00 | 3,654.00 | 3,806.00 | 3,750.00 | 3,914.00 | 4,037.00 | 4,240.00 | 4,424.00 | 4,895.00 |
| Fees and commission income | 27.00 | 46.00 | 32.00 | 42.00 | 45.00 | 228.00 | 348.00 | 291.00 | 289.00 | 238.00 | 260.00 | 259.00 | 289.00 | 338.00 | 347.00 | 318.00 |
| Net gain on fair value changes | -1.00 | 64.00 | -27.00 | 65.00 | 0.00 | 0.00 | 1.00 | 41.00 | 76.00 | 53.00 | 13.00 | 86.00 | 9.00 | 0.00 | 0.00 | 0.00 |
| Dividend income | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 1.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Rental income | 2.00 | 1.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Annual results, as filed
| Line | 2020-03-31 | 2021-03-31 | 2022-03-31 | 2023-03-31 | 2024-03-31 | 2025-03-31 | 2026-03-31 |
|---|---|---|---|---|---|---|---|
| Revenue from operations | 14,176.00 | 13,678.00 | 11,930.00 | 12,775.00 | 13,581.00 | 15,924.00 | 17,914.00 |
| Other income | 373.00 | 402.00 | 394.00 | 527.00 | 475.00 | 17.00 | 3.00 |
| Total income | 14,548.00 | 14,080.00 | 12,324.00 | 13,302.00 | 14,055.00 | 15,941.00 | 17,917.00 |
| Cost of materials consumed | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Purchases of stock-in-trade | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Changes in inventories | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Employee benefit expense | 1,062.00 | 1,007.00 | 1,095.00 | 1,406.00 | 1,806.00 | 2,217.00 | 2,455.00 |
| Finance costs | 7,514.00 | 7,200.00 | 5,754.00 | 5,797.00 | 5,377.00 | 5,997.00 | 6,720.00 |
| Depreciation and amortisation | 82.00 | 87.00 | 103.00 | 111.00 | 115.00 | 139.00 | 210.00 |
| Other expenses | 817.00 | 879.00 | 1,065.00 | 1,316.00 | 1,587.00 | 1,629.00 | 1,760.00 |
| Total expenses | 11,868.00 | 12,811.00 | 11,101.00 | 11,171.00 | 11,026.00 | 12,450.00 | 13,890.00 |
| Profit before exceptional items and tax | 2,680.00 | 1,270.00 | 1,223.00 | 2,131.00 | 3,029.00 | 3,491.00 | 4,027.00 |
| Exceptional items | 0.00 | 226.00 | 0.00 | -2,687.00 | 0.00 | 0.00 | -29.00 |
| Profit before tax | 2,680.00 | 1,495.00 | 1,223.00 | -557.00 | 3,029.00 | 3,491.00 | 3,998.00 |
| Current tax | 632.00 | 704.00 | 211.00 | 626.00 | 716.00 | 766.00 | 1,071.00 |
| Deferred tax | 347.00 | -157.00 | 163.00 | -454.00 | -4.00 | 82.00 | -55.00 |
| Tax expense | 980.00 | 546.00 | 374.00 | 172.00 | 712.00 | 848.00 | 1,015.00 |
| Profit for the period | 1,700.00 | 949.00 | 1,049.00 | 1,536.00 | 2,317.00 | 2,643.00 | 2,983.00 |
| Profit attributable to owners | 1,700.00 | 1,014.00 | 1,070.00 | 1,623.00 | 2,326.00 | 2,644.00 | 2,992.00 |
| Profit attributable to non-controlling interests | 0.00 | -22.00 | -21.00 | -87.00 | -3.00 | -0.00 | 2.00 |
| Other comprehensive income | -159.00 | 43.00 | 64.00 | 45.00 | 6.00 | 24.00 | 10.00 |
| Total comprehensive income | 1,541.00 | 992.00 | 1,113.00 | 1,582.00 | 2,323.00 | 2,668.00 | 2,993.00 |
| Earnings per share, basic | 8.50 | 4.49 | 4.33 | 6.56 | 9.34 | 10.61 | 11.92 |
| Earnings per share, diluted | 8.46 | 4.47 | 4.32 | 6.54 | 9.30 | 10.57 | 11.88 |
| Interest earned | 13,245.00 | 13,105.00 | 11,704.00 | 12,565.00 | 12,914.00 | 14,663.00 | 16,616.00 |
| Fees and commission income | 812.00 | 542.00 | 210.00 | 158.00 | 662.00 | 1,077.00 | 1,233.00 |
| Net gain on fair value changes | 109.00 | 24.00 | 7.00 | 48.00 | 4.00 | 183.00 | 64.00 |
| Dividend income | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 1.00 | 0.00 |
| Rental income | 9.00 | 5.00 | 8.00 | 3.00 | 0.00 | 0.00 | 0.00 |
Balance sheet, as filed
| Line | 2023-03-31 | 2023-09-30 | 2024-03-31 | 2024-09-30 | 2025-03-31 | 2025-09-30 | 2026-03-31 |
|---|---|---|---|---|---|---|---|
| Total assets | 106,362.00 | 100,997.00 | 102,718.00 | 111,815.00 | 120,409.00 | 127,232.00 | 142,205.00 |
| Property, plant and equipment | 57.00 | 353.00 | 355.00 | 360.00 | 397.00 | 412.00 | 462.00 |
| Capital work-in-progress | 5.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | — |
| Goodwill | 13.00 | 13.00 | 13.00 | 13.00 | 13.00 | 195.00 | 196.00 |
| Other intangible assets | 115.00 | 102.00 | 96.00 | 88.00 | 114.00 | 252.00 | 253.00 |
| Inventories | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Cash and cash equivalents | 9,109.00 | 6,571.00 | 3,593.00 | 2,265.00 | 2,896.00 | 2,112.00 | 4,489.00 |
| Total equity and liabilities | 106,362.00 | 100,997.00 | 102,718.00 | 111,815.00 | 120,409.00 | 127,232.00 | 142,205.00 |
| Equity | 21,618.00 | 22,275.00 | 23,528.00 | 24,360.00 | 25,631.00 | 26,425.00 | 28,034.00 |
| Equity share capital | 2,480.00 | 2,483.00 | 2,489.00 | 2,493.00 | 2,495.00 | 2,500.00 | 2,504.00 |
| Other equity | 19,049.00 | 19,702.00 | 20,950.00 | 21,775.00 | 23,069.00 | 23,858.00 | 25,479.00 |
| Total liabilities | — | — | — | — | 94,778.00 | 100,807.00 | 114,171.00 |
Cash flow, as filed
| Line | 2022-03-31 | 2023-03-31 | 2023-09-30 | 2024-03-31 | 2024-09-30 | 2025-03-31 | 2025-09-30 | 2026-03-31 |
|---|---|---|---|---|---|---|---|---|
| Net cash from operating activities | 6,078.00 | 7,490.00 | 2,980.00 | 673.00 | -9,488.00 | -16,586.00 | -4,141.00 | -14,189.00 |
| Net cash from investing activities | -5,084.00 | -1,107.00 | 1,641.00 | 849.00 | 161.00 | 471.00 | -251.00 | 367.00 |
| Net cash from financing activities | -3,026.00 | -2,191.00 | -7,158.00 | -7,037.00 | 7,998.00 | 15,419.00 | 3,607.00 | 15,415.00 |
| Purchase of property, plant and equipment | 78.00 | 128.00 | 50.00 | 119.00 | 77.00 | 195.00 | 79.00 | 239.00 |
| Net increase in cash | -2,032.00 | 4,193.00 | -2,537.00 | -5,515.00 | -1,329.00 | -697.00 | -784.00 | 1,593.00 |
| con:CFO.BEFORE_TAX | 4,637.00 | 5,387.00 | 2,715.00 | 8,237.00 | -453.00 | -1,194.00 | 5,809.00 | -3,609.00 |
| con:INTEREST_RECEIVED.OPERATING | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 16,332.00 |
| con:INTEREST_PAID.OPERATING | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| con:DIVIDENDS_RECEIVED.OPERATING | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| con:TAX_PAID.OPERATING | 372.00 | 1,146.00 | 67.00 | 318.00 | 405.00 | 706.00 | 376.00 | 1,023.00 |
| con:CF_OTHER.OPERATING | 1,813.00 | 3,250.00 | 332.00 | -7,246.00 | -8,629.00 | -14,686.00 | -9,574.00 | -25,890.00 |
| con:INVESTMENTS_PURCHASED | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| con:INVESTMENTS_SOLD | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| con:PPE_DISPOSALS | 1.00 | 32.00 | 0.00 | 1.00 | 1.00 | 6.00 | 1.00 | 2.00 |
| con:CF_INVESTING.SUBSIDIARIES_SOLD | 0.00 | 3,336.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| con:CF_INVESTING.SUBSIDIARIES_ACQUIRED | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 709.00 | 710.00 |
| con:CF_INVESTING.JV_SOLD | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| con:CF_INVESTING.JV_ACQUIRED | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Who owns it
The shareholding pattern filed with the exchange every quarter, as a series. Percentages are of total shares. Each figure names the filing it was read from and the date it was filed.
| Holder | 2023-03-31 | 2023-06-30 | 2023-09-30 | 2023-12-31 | 2024-03-31 | 2024-06-30 | 2024-09-30 | 2024-12-31 | 2025-03-31 | 2025-06-30 | 2025-09-30 | 2025-12-31 | 2026-03-31 | 2026-06-30 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Promoter and promoter group | 66.11 | 66.10 | 66.02 | 65.90 | 65.86 | 66.37 | 66.29 | 66.25 | 66.24 | 66.16 | 0.66 | 0.66 | 0.66 | 0.66 |
| Domestic institutions | 6.58 | 5.29 | 7.02 | 9.08 | 8.70 | 11.64 | 12.33 | 12.17 | 13.29 | 14.11 | 0.14 | 0.15 | 0.15 | 0.15 |
| Mutual funds | — | — | — | — | — | — | — | — | — | 8.15 | 0.11 | 0.12 | 0.12 | 0.12 |
| Insurance companies | 4.36 | 4.40 | 5.59 | 6.24 | 5.11 | 4.54 | 4.76 | 5.70 | 6.18 | 5.89 | 0.04 | 0.03 | 0.03 | 0.03 |
| Foreign institutions | 11.35 | 13.90 | 12.12 | 10.67 | 11.05 | 7.33 | 6.73 | 5.30 | 5.48 | 6.19 | 0.06 | 0.07 | 0.08 | 0.08 |
| Government | — | — | — | — | — | — | — | — | — | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Public | 33.89 | 33.90 | 33.98 | 34.10 | 34.14 | 33.63 | 33.71 | 33.75 | 33.76 | 33.84 | 0.34 | 0.34 | 0.34 | 0.34 |
| Non-institutional | 15.96 | 14.72 | 14.85 | 14.36 | 14.40 | 14.65 | 14.65 | 16.27 | 15.00 | 13.54 | 0.13 | 0.12 | 0.11 | 0.11 |
| Shares outstanding | 2479671117 | 2479969485 | 2483069511 | 2487578158 | 2488940310 | 2489839366 | 2492692952 | 2494269202 | 2494868101 | 2497711497 | 2499869941 | 2502627626 | 2504386016 | 2505506199 |
Related parties
Transactions with related parties as disclosed to the exchange for the period ending 2024-09-30, by counterparty, largest first. Amounts are as filed. Each row names the filing and the date it was filed.
| Counterparty | Relationship | Type | Amount in the period | Transactions |
|---|---|---|---|---|
| Larsen & Toubro Limited | Ultimate Holding Company | Any other transaction | 879,800,000.00 | 13 |
| L&T Financial Consultants Limited | Fellow Subsidiary Companies | Any other transaction | 244,200,000.00 | 3 |
| LTIMINDTREE Limited (formerly known as Larsen & Toubro I | Fellow Subsidiary Companies | Any other transaction | 77,700,000.00 | 3 |
| Mr. Sachinn Joshi | Chief Financial Officer | Remuneration | 25,400,000.00 | 1 |
| Mr. Sudipta Roy | Managing Director and Chief Execut | Remuneration | 19,800,000.00 | 1 |
| L&T Infra Investment Partners Advisory Private Limited | Subsidiary Companies | Any other transaction | 15,500,000.00 | 1 |
| Mr. Dinanath Dubhashi | Whole Time Director (upto 30 April | Remuneration | 10,900,000.00 | 1 |
| Ms. Apurva Rathod | Company Secretary | Remuneration | 9,600,000.00 | 1 |
| L&T Infra Investment Partners Advisory Pvt Ltd | Fellow Subsidiary Companies | Any other transaction | 3,700,000.00 | 1 |
| L&T Technology Services Limited | Fellow Subsidiary Companies | Any other transaction | 1,700,000.00 | 2 |
| Mr. Thomas Mathew T. | Independent Director | Remuneration | 1,600,000.00 | 1 |
| Dr (Mrs). Rajni R Gupte | Independent Director | Remuneration | 1,600,000.00 | 1 |
| Dr. R. Seetharaman | Independent Director | Remuneration | 1,300,000.00 | 1 |
| Ms. Nishi Vasudeva | Independent Director | Remuneration | 1,200,000.00 | 1 |
| Mr. Pavninder Singh | Nominee Director (upto 12 June, 2 | Remuneration | 200,000.00 | 1 |
What management said
Every earnings call we hold for this company, read in full. Prepared remarks are separated from the question-and-answer session and every paragraph names who said it and on which page. These are management’s own words, not filed figures.
| Date | Quarter | Who spoke | |
|---|---|---|---|
| 2026-07-20 | Q1FY26 | Read the call | |
| 2026-05-05 | Q4FY26 | Read the call | |
| 2026-01-27 | Q3FY26 | Read the call | |
| 2025-10-27 | Q2FY26 | Read the call | |
| 2025-07-28 | Q1FY25 | Read the call | |
| 2025-05-06 | Q4FY24 | Read the call | |
| 2025-01-28 | Q3FY24 | Read the call | |
| 2024-10-28 | Q2FY24 | Read the call | |
| 2024-07-25 | Q1FY25 | Read the call | |
| 2024-05-07 | Q4FY24 | Read the call | |
| 2024-02-01 | Q3FY23 | Read the call | |
| 2023-10-31 | Q2FY24 | Read the call | |
| 2023-07-27 | Q1FY24 | Read the call | |
| 2023-05-09 | Q4FY23 | Read the call | |
| 2023-01-23 | Q3FY23 | Read the call | |
| 2022-10-31 | Q2FY23 | Read the call | |
| 2022-07-27 | Q1FY23 | Read the call | |
| 2022-05-10 | Q4FY22 | Read the call |
What they said about it, quarter by quarter
| Topic | Q2FY26 | Q3FY23 | Q3FY24 | Q3FY26 | Q4FY22 | Q4FY23 | Q4FY24 | Q4FY26 |
|---|---|---|---|---|---|---|---|---|
| Capex | So there will be investments in continuing to build on these businesses plus expansion that we take up for these businesses we'll need some -- both op… | — | — | — | — | — | Some of it will be in the form of capital expenditure. | — |
| Capital allocation | And given the fact that if this digital channels start firing -- because you have to understand that in acquisition, the digital channels, if properly… | The Board still has to take a decision whether we will give a special dividend, etc. That is also subject to regulatory approvals. | — | So, we have previously done acquisition of portfolios and that continues. | This is Nischint from Kotak Securities, on the capital gains from stake sale in mutual fund, you mentioned that you are going to keep this as macro-po… | During COVID, the regulator came up with a guideline saying that any NBFC can declare at most 50% of its profit as dividend. | Well-tuned acquisition engines ensured that the Q4 disbursements exceeded that of the festive Q3 quarter • Retail book crossed the Rs. | The organization has already started laying the blueprint for the same and expects to operationalize the platform by Q2 FY27. The payments business wi… |
| Costs | — | But yes, if our overall input cost of funds goes up, our overall stock through the door, inward stock should see a rise in rate and that we will decid… | — | — | — | — | — | — |
| Debt and cash | — | — | And then probably, because the deleveraging has happened quite a bit as per data available with us, so I do believe that things probably will get on t… | — | — | — | As you are aware, over the course of FY25, there have been operational and credit quality challenges in unsecured consumer lending businesses in India… | — |
| Demand | So obviously, there is a demand in the market and there is space in the market for organizations to grow. | You know what, this demand has been there throughout and I would -- I promised you last time that we will soon give it, I would reiterate my promise. | — | So, because the demand on fresh tractors was so large that we are really focused on that, right. | So that is how we developed this algorithm, that we will go actually in predicting demand of a particular model of a particular make in a particular a… | — | The country’s GDP growth rate for FY25 is projected to remain strong at 6.8% aided by continued strength in domestic demand. | The pickup has been led by steady private consumption, both in urban and rural, and sustained investment in sectors like construction, power, producti… |
| Guidance | And we expect that this will remain in this state for the next couple of quarters. | And in fact, you heard me guiding more-and-more on the Retail RoA tree, Retail balance sheet. | Second question is on -- Sudipta, on this whole -- this NIMs + Fees guidance we have it in the corridor of 10% to 11%. | Or there was anything specific during the quarter and the run rate of improvement should actually accelerate from here on to get towards your guidance… | I remember those times that I was guiding you around 6.5% to 7%. | I have been guiding always how we will achieve this 3% ROA, okay? | The work on the next generation digital credit engine has progressed at a satisfactory pace and we expect the Beta version to be deployed in productio… | I would like to take some time to share a brief update on the broad themes outlined in our guidance last year. |
| Margin | So -- and overall on the SME segment, yes, we saw some risk develop on the outside margin, especially on SME ticket sizes of Rs. | — | And then eventually, when do you potentially see operating leverage playing out? | — | — | You were honest to call out that there should be margin compression next year because of the fact that cost of funding is going up, but what about ass… | And also, I think aside, at what stage you start to see benefits of Cyclops coming through in terms of the scale and the operating leverage that the c… | We are pleased to note that Project Cyclops has outperformed the industry by a wide margin during the aforementioned observation window. |
| People | And this would be without, I would believe, now the utilization of the buffer. | And compared to that of the macro, the utilization or maybe the write- backs from this could be relatively on the lower side. | — | — | At the feet on street, it has tremendous level of attrition. | — | Yes, on the employee part as well as -- so on the employee part, obviously, financial services have seen higher attrition in all organizations over th… | On the macro-prudential provisions utilization, the Stage 1, 2, and 3, when the recalibration has been done. |
| Pricing | So, in that, what is the customer profile that we're targeting, the CIBIL benchmark and also the pricing that we have at a blended level for that segm… | Is it mainly Micro Finance related or you have been able to take price hikes across the product? | — | — | Importantly, what it shows is the advantage of retailisation and it shows our pricing power and that is why we are quite sure of maintaining and perha… | — | So you will see on the back of a good monsoon and on the back of price increases that have been announced by most of the tractor OEMs, we are looking … | — |
| Revenue growth | So, there will be investments because we have to ensure that the future remains intact in terms of building up top line. | In fact, some of the leading rating agencies have forecasted India's average growth rate to be in the range of 6.5% to 6.7% till about FY27. • During … | So, would we look at pulling back growth at any point in time because of the higher delinquencies in PL? | We are now going to focus on the top line. | — | All of you work your excel sheets and till last year, till FY23, the book growth was lower than the disbursement growth because of the previous years. | Moreover, we maintained a strong trajectory in our Q4 disbursements ending with an overall disbursements growth of 33% YoY and 4% sequentially over th… | The Retail book now stands at ₹1,19,508 Cr, reflecting a growth of 26% YoY, while the overall book size reached ₹1,21,728 Cr in FY26 and a RoA of 2.4%… |