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L&T Finance Ltd

| Consolidated Financial Results for Q4 and Year Ended March 31, 2026

Report Source

⬤24th Apr 26

Summary : L&T Finance reports strong FY26 results, expands into pre-paid instruments, and raises significant capital.

Quarterly Report Analysis & Insights

Financial Disclosures

  1. Consolidated Total expenses: Rs. 13,890.35 crore (FY26).
  2. Standalone Total expenses: Rs. 13,919.40 crore (FY26).
  3. Consolidated Finance costs: Rs. 6,720.08 crore (FY26).
  4. Standalone Finance costs: Rs. 6,720.04 crore (FY26).
  5. Consolidated Employee benefits expense: Rs. 2,455.00 crore (FY26).
  6. Standalone Employee benefits expense: Rs. 2,452.77 crore (FY26).
  7. Consolidated Exceptional items: Rs. (28.51) crore (FY26).
  8. Standalone Exceptional items: Rs. (28.43) crore (FY26).
  9. Consolidated Revenue from operations: Rs. 17,913.67 crore (FY26).
  10. Standalone Revenue from operations: Rs. 18,049.65 crore (FY26).
  11. Consolidated Interest income: Rs. 16,616.01 crore (FY26).
  12. Standalone Interest income: Rs. 16,615.65 crore (FY26).
  13. Consolidated Fees and commission income: Rs. 1,233.27 crore (FY26).
  14. Standalone Fees and commission income: Rs. 1,233.27 crore (FY26).
  15. Consolidated Net cash used in operating activities: Rs. (14,189.24) crore (FY26).
  16. Standalone Net cash used in operating activities: Rs. (14,236.69) crore (FY26).
  17. Consolidated Net cash generated from financing activities: Rs. 15,415.06 crore (FY26).
  18. Standalone Net cash generated from financing activities: Rs. 15,433.32 crore (FY26).
  19. Consolidated Cash and cash equivalents at year-end: Rs. 4,488.94 crore (FY26).
  20. Standalone Cash and cash equivalents at year-end: Rs. 4,487.86 crore (FY26).
  21. Consolidated Total Assets: Rs. 142,205.31 crore (as of March 31, 2026).
  22. Standalone Total Assets: Rs. 141,942.51 crore (as of March 31, 2026).
  23. Consolidated Loans (assets): Rs. 117,821.03 crore (as of March 31, 2026).
  24. Standalone Loans (assets): Rs. 117,821.03 crore (as of March 31, 2026).
  25. Consolidated Debt securities (liabilities): Rs. 32,039.53 crore (as of March 31, 2026).
  26. Standalone Debt securities (liabilities): Rs. 32,039.53 crore (as of March 31, 2026).
  27. Consolidated Net worth: Rs. 27,983.53 crore (as of March 31, 2026).
  28. Standalone Net worth: Rs. 27,833.28 crore (as of March 31, 2026).
  29. Rent and maintenance cost paid to L&T Financial Consultants Limited.
  30. Dividend received from L&T Financial Consultants Limited.
  31. Brand license fees paid to Larsen & Toubro Limited.
  32. Interest on non-convertible debentures with LTM Limited.
  33. Corporate support charges recovered from L&T Infra Investment Partners Advisory Private Limited.
  34. Both consolidated and standalone financial results are presented and audited.

Corporate Overview

  1. One-time material increase in employee benefits provision due to new Labour Codes.
  2. Engaged primarily in the business of financing.
  3. Approved entering pre-paid instruments business (wallets and cards).
  4. Company acting as a Third-Party Application Provider.
  5. Formal and compliant, reporting board decisions and financial results.
  6. Interest income
  7. Dividend income
  8. Fees and commission income
  9. Net gain on fair value changes
  10. Approved raising funds via non-convertible debentures (NCDs) up to Rs. 1,23,500 crores.
  11. Approved issuance of preference shares up to Rs. 6,012 crores for FY2026-27.
  12. Approved entering into pre-paid instruments business (wallets and cards).

Risk Factors

  1. New Labour Codes impact employee benefits.
  2. Regulatory approvals needed for new business.
  3. Reliance on external funding for growth.
  4. Future events may affect going concern.

Key Drivers

  1. New pre-paid instruments business launched.
  2. Significant capital raised via NCDs.
  3. Strong financial performance, increased profit.
  4. Final dividend of Rs. 2.75 recommended.

Auditor’s Report

  1. Unmodified opinion on consolidated and standalone financial results.

Board Commentary

  1. Appointment of Mr. Sachinn Joshi as Whole-time Director for 2 years.
  2. Appointment of Mr. Raju Dodti as Whole-time Director for 3 years.
  3. Recommended a final dividend of Rs. 2.75 per Equity Share (face value Rs. 10) for FY 2025-26.
  4. One-time material increase in provision for employee benefits due to new Labour Codes.
  5. Compliance with SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
  6. Impact of new Labour Codes on employee benefits provision.
  7. Approved raising funds via NCDs up to Rs. 1,23,500 crores.
  8. Approved issuance of preference shares up to Rs. 6,012 crores.

Corporate Governance

  1. Auditors complied with Code of Ethics issued by ICAI.
  2. Audit Committee reviewed consolidated financial results.

Management Discussion & Analysis

Future Strategy

  1. Expansion into pre-paid instruments (wallets and cards) subject to regulatory approvals.
  2. Fundraising through NCDs and preference shares to support growth.

Operational Focus Areas

  1. Overseeing retail finance business growth across regions.
  2. Providing leadership for operations and customer service functions.

Performance Drivers

  1. Strong growth in retail finance businesses.
  2. Strategic divestments for L&T Finance.

Critical Risks

  1. Impact of new Labour Codes on employee benefits provision.
  2. Requirement for requisite regulatory/statutory approvals for new business ventures.