Stock LTF L&T FINANCE LIMITED
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Financials L&T Finance Limited

Equities

LTF

INE498L01015

Corporate Financial Services

Market Closed - NSE India S.E.
Other stock markets
 12:43:53 27/06/2024 BST 		5-day change 1st Jan Change
179.3 INR -1.35% Intraday chart for L&T Finance Limited +1.73% +8.61%
06-13 L&T Finance Limited Announces Cessation of Pavninder Singh as Director (Nominee Director) CI
06-13 L&T Finance Limited announced that it has received INR 5.344819524 billion in funding from Morgan Stanley CI

Valuation

Fiscal Period: March 2020 2021 2022 2023 2024 2025 2026 2027
Capitalization 1 100,458 232,084 196,041 200,084 393,875 442,327 - -
Enterprise Value (EV) 1 100,458 232,084 196,041 200,084 393,875 1,233,833 1,433,942 1,701,846
P/E ratio 6.06 x 21.4 x 18.7 x 12.5 x 17 x 15.4 x 12.3 x 9.88 x
Yield 1.75% - 0.62% - 1.58% 1.66% 2.14% 2.07%
Capitalization / Revenue 1.43 x 3.37 x 2.98 x 2.67 x 4.54 x 4.25 x 3.51 x 2.95 x
EV / Revenue 1.43 x 3.37 x 2.98 x 2.67 x 4.54 x 11.9 x 11.4 x 11.3 x
EV / EBITDA - - - - - 62 x 52.1 x 50.4 x
EV / FCF - - - - - - - -
FCF Yield - - - - - - - -
Price to Book 0.7 x 1.26 x 1 x - - 1.74 x 1.56 x 1.38 x
Nbr of stocks (in thousands) 1,958,247 2,421,329 2,432,275 2,438,565 2,488,942 2,467,514 - -
Reference price 2 51.30 95.85 80.60 82.05 158.2 179.3 179.3 179.3
Announcement Date 15/05/20 29/04/21 29/04/22 28/04/23 27/04/24 - - -
1INR in Million2INR
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: March 2020 2021 2022 2023 2024 2025 2026 2027
Net sales 1 70,345 68,802 65,698 75,045 86,779 104,115 126,104 150,087
EBITDA 1 - - - - - 19,906 27,498 33,744
EBIT 1 58,906 57,860 53,723 59,873 67,568 62,471 76,298 90,346
Operating Margin 83.74% 84.1% 81.77% 79.78% 77.86% 60% 60.5% 60.2%
Earnings before Tax (EBT) 1 26,801 14,952 12,228 -5,565 30,290 39,290 48,457 58,779
Net income 1 17,002 9,709 10,701 16,232 23,201 29,274 36,351 43,697
Net margin 24.17% 14.11% 16.29% 21.63% 26.74% 28.12% 28.83% 29.11%
EPS 2 8.460 4.470 4.320 6.540 9.300 11.67 14.54 18.13
Free Cash Flow - - - - - - - -
FCF margin - - - - - - - -
FCF Conversion (EBITDA) - - - - - - - -
FCF Conversion (Net income) - - - - - - - -
Dividend per Share 2 0.9000 - 0.5000 - 2.500 2.979 3.839 3.717
Announcement Date 15/05/20 29/04/21 29/04/22 28/04/23 27/04/24 - - -
1INR in Million2INR
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: March 2022 Q3 2022 Q4 2023 Q1 2023 Q2 2023 Q3 2023 Q4 2024 Q1 2024 Q2 2024 Q3 2024 Q4 2025 Q1 2025 Q2 2025 Q3 2025 Q4
Net sales 1 16,925 16,749 17,226 18,189 19,903 19,726 20,130 21,572 22,278 23,422 23,647 24,933 26,510 28,430
EBITDA - - - - - - - - - - - - - -
EBIT 1 14,050 13,448 13,983 14,497 12,476 15,489 15,771 16,802 13,382 18,138 13,727 14,730 15,689 18,141
Operating Margin 83.01% 80.29% 81.18% 79.7% 62.68% 78.52% 78.34% 77.89% 60.07% 77.44% 58.05% 59.08% 59.18% 63.81%
Earnings before Tax (EBT) 3,691 4,191 3,068 5,556 -20,813 6,624 7,136 7,974 8,240 6,940 - - - -
Net income 1 3,260 3,422 2,621 4,064 4,536 5,011 5,309 5,951 6,402 5,539 6,218 6,462 7,375 8,802
Net margin 19.26% 20.43% 15.22% 22.34% 22.79% 25.4% 26.37% 27.59% 28.74% 23.65% 26.3% 25.92% 27.82% 30.96%
EPS 1.320 - 1.070 1.630 - - 2.130 2.390 2.570 2.220 - - - -
Dividend per Share - - - - - - - - - - - - - -
Announcement Date 21/01/22 29/04/22 19/07/22 20/10/22 13/01/23 28/04/23 19/07/23 20/10/23 23/01/24 27/04/24 - - - -
1INR in Million
Estimates

Balance Sheet Analysis

Fiscal Period: March 2020 2021 2022 2023 2024 2025 2026 2027
Net Debt 1 - - - - - 791,506 991,616 1,259,520
Net Cash position 1 - - - - - - - -
Leverage (Debt/EBITDA) - - - - - 39.76 x 36.06 x 37.33 x
Free Cash Flow - - - - - - - -
ROE (net income / shareholders' equity) 12.1% 5.8% 5.53% 7.79% 10.3% 11.9% 13.4% 14.4%
ROA (Net income/ Total Assets) 1.58% 0.89% 0.99% 1.53% 2.22% 2.62% 2.76% 2.84%
Assets 1 1,077,967 1,092,540 1,079,371 1,060,948 1,045,420 1,117,094 1,317,095 1,539,562
Book Value Per Share 2 73.30 76.00 80.60 - - 103.0 115.0 130.0
Cash Flow per Share - 25.20 24.50 - - - - -
Capex - - - - - - - -
Capex / Sales - - - - - - - -
Announcement Date 15/05/20 29/04/21 29/04/22 28/04/23 27/04/24 - - -
1INR in Million2INR
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Ratings for L&T Finance Limited

Trading Rating
Investor Rating
ESG Refinitiv
B-
More Ratings

Analysts' Consensus

Sell
Consensus
Buy
Mean consensus
OUTPERFORM
Number of Analysts
16
Last Close Price
179.3 INR
Average target price
190.2 INR
Spread / Average Target
+6.13%
Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

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