L&T Finance Holdings hits 52-week high, surges 6% on strong Q3 results
After the divestment of the mutual fund business, LTFH has proposed merger of its subsidiary lending entities - L&T Finance and L&T Infra Credit with itself16-01-2023
16-01-2023
Q3FY23 Quarterly Result Announced for L&T Finance Holdings Ltd.
Holdings companies firm L&T; Finance Holdings announced Q3FY23 results: Profit After Tax (PAT) at Rs 454 crore, up 39% YoY (Year-on-Year) Retail PAT at Rs 394 crore, up 76% YoY, supported by strong Retail Return on Assets (RoA), reaching 2.6% in Q3FY23 Retail Return on Equity (RoE) at 14.97% during the quarter Retail portfolio mix at 64% compared to 58% in the quarter ended September 30, 2022 Retail book at Rs 57,000 crore, up 34% YoY; led by key products - Rural Business Finance, Farm Equipment Finance and Two- Wheeler Finance Retail disbursements at Rs 11,607 crore, up 53% YoY and up 13% QoQ (Quarter-on-Quarter) Net Interest Margin (NIM) + Fees at 8.80%, up 70 basis points (bps) YoY due to changing portfolio mix towards retail. Retail NIM+Fees reached 11.38% in Q3FY23, up 25 bps YoY Gross Stage 3 (GS3) stood at 4.21% - Rs 3,723 crore as on December 31, 2022, down by 248 bps compared with 6.69% - Rs 5,623 crore as on December 31, 2021 Net Stage 3 (NS3) at 1.72% - Rs 1,487 crore as on December 31, 2022, down by 145 bps compared with 3.17% - Rs 2,565 crore as on December 31, 2021 Improved Retail Asset Quality with GS3 at 3.47% (down 38 bps YoY) and NS3 at 0.73% (down 45 bps YoY) Capital adequacy ratio at 23.49% (Tier 1: 20.61%; Tier 2: 2.88%); adequate liquidity buffers in place Strategic initiatives for achieving Lakshya 2026 remain on track: Concluded divestment of the mutual fund business and received sale consideration of Rs 3,485 crore along with surplus cash balance Rs 764 crore, thereby aggregating to Rs 4,249 crore Consequent to change in business model in order to enable Accelerated selldown of Wholesale book, a One-time provision of Rs 2,687 crore has been made during the quarter Commenting on the financial results, Mr. Dinanath Dubhashi, Managing Director & CEO, L&T; Finance Holdings Ltd. said, “We are progressing well on our journey towards Lakshya 2026 to become a top class, ‘digitally-enabled’, ‘customer-focused’, retail finance company. Our results in Q3FY23 not only highlight our robust business strengths, but also reflect our continued focus on accelerated retailisation, with the retail portfolio mix reaching 64%. On the strategic initiatives front, we have recently concluded the sale of our mutual fund business and are progressing well on our retailisation journey consisting of two major pillars, namely ‘Strong Retail Growth’ and ‘Accelerated sell-down of Wholesale portfolio’. We have also created adequate provisions to support the accelerated sell-down process. With a view to further strengthen the Fintech franchise, the Company continued to emphasize on digitisation, data analytics and customer-facing applications, with a clear focus on expanding the existing channels and ecosystems, and creating newer channels. Our application PLANET has recently crossed 17 lakh downloads. All these developments show that we are moving in the right direction to achieve our Lakshya 2026 goals and sustainably create value for all our stakeholders.” Result PDF16-01-2023
L&T FINANCE HOLDINGS LTD. - 533519 - Intimation - Chief Risk Officer
Pursuant to the requirements of Reserve Bank of India Master Direction - Core Investment Companies (Reserve Bank) Directions, 2016, DoR (NBFC).PD.003/03.10.119/2016-17, on directions for Core Investment Companies, as amended from time to time, the Board of Directors of the Company at its Meeting held on January 13, 2023, on the basis of the recommendation of the Group Risk Management Committee, has approved the appointment of Mr. Vinay Chhawchharia as the Chief Risk Officer of the Company for a period of two years with effect from January 13, 2023.13-01-2023
L&T FINANCE HOLDINGS LTD. - 533519 - Announcement under Regulation 30 (LODR)-Investor Presentation
With reference to our letter dated January 11, 2023 and pursuant to Regulation 30 read with Para A of Part A of Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 ('Listing Regulations'), please find enclosed the presentation to be made to the investor(s) / analyst(s).13-01-2023
L&T FINANCE HOLDINGS LTD. - 533519 - Announcement under Regulation 30 (LODR)-Investor Presentation
With reference to our letter dated January 11, 2023 and pursuant to Regulation 30 read with Para A of Part A of Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 ('Listing Regulations'), please find enclosed the presentation to be made to the investor(s) / analyst(s).13-01-2023
L&T FINANCE HOLDINGS LTD. - 533519 - Announcement under Regulation 30 (LODR)-Scheme of Arrangement
Disclosure of events under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 ('Listing Regulations')13-01-2023
L&T FINANCE HOLDINGS LTD. - 533519 - Board Meeting Outcome for Unaudited Financial Results (Consolidated And Standalone) For The Quarter And Nine Months Ended December 31, 2022
Please find attached Unaudited Financial Results (Consolidated and Standalone) for the quarter and nine months ended December 31, 2022.13-01-2023
L&T FINANCE HOLDINGS LTD. - 533519 - Unaudited Financial Results (Consolidated And Standalone) For The Quarter And Nine Months Ended December 31, 2022
Please find attached Unaudited Financial Results (Consolidated and Standalone) for the quarter and nine months ended December 31, 202213-01-2023
L&T FINANCE HOLDINGS LTD. - 533519 - Announcement under Regulation 30 (LODR)-Allotment of ESOP / ESPS
Pursuant to Regulation 30 read with Para A of Part A of Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we hereby inform the Exchanges that the Nomination and Remuneration Committee of the Company at its Meeting held on January 12, 2023 has approved the allotment of 16,15,073 (Sixteen Lakh Fifteen Thousand and Seventy Three) equity shares to those option grantees who have exercised their options of the Company. The said equity shares will rank pari - passu with the existing equity shares of the Company in all respects and be entitled for dividend to be declared hereafter.12-01-2023
L&T FINANCE HOLDINGS LTD. - 533519 - Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation
Pursuant to Regulation 30 read with Para A of Part A of Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 ('Listing Regulations'), we hereby inform the stock exchanges that the Company will hold a conference call to discuss Q3FY2023 financial performance and provide an update on strategy as per the schedule.11-01-2023