Board Meeting On May 4, 2017
Dear Sir/ Madam, Pursuant to Regulation 29(1) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 ('Listing Regulations'), we hereby inform the Exchange that a Meeting of the Board of Directors of the Company will be held on May 4, 2017 at Mumbai, inter alia, to: 1.Consider and approve the Audited Financial Results for the quarter and year ended March 31, 2017 2.Consider recommendation of dividend on the equity shares... Compliance Certificate For The Period Ended March 31, 2017
Pursuant to Regulation 7(3) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 ('Listing Regulations'), we hereby confirm that all the activities in relation to both physical and electronic share transfer during the half year ended March 31, 2017 were maintained by the Registrar & Share Transfer Agent ('RTA') of the Company i.e. Link Intime India Private Limited, a Category-I RTA registered with SEBI (Registration Number:... Shareholding for the Period Ended March 31, 2017
L&T; Finance Holdings Ltd has submitted to BSE the Shareholding Pattern for the Period Ended March 31, 2017. For more details, kindly Click here Statement Of Investor Complaints For The Quarter Ended March 31, 2017
Dear Sir/ Madam, Pursuant to Regulation 13(3) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 ('Listing Regulations'), please find below Statement of Investor Complaints of the Company for the quarter ended March 31, 2017: ParticularsQuarter ended March 31, 2017 Pending at the beginning of the quarter0 Received during the quarter6 Disposed off during the quarter4 Remaining unresolved at the end of the... Updates
Dear Sir/ Madam, Pursuant to Regulation 7(3) of the SEBI (Prohibition of Insider Trading) Regulations, 2015, please find enclosed Form D received from Mr. Deepak Punjabi, designated person, on April 4, 2017 and April 5, 2017, with respect to disclosure of details of change in his shareholding. Kindly take the same on record and acknowledge receipt. Change in Directorate
Dear Sir/ Madam, Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we wish to inform the Exchange that Ms. Kamakshi Rao, Independent Director of the Company, has tendered her resignation effective from March 21, 2017, to devote time to other commitments. Kindly take the same on record and acknowledge receipt.
L&T Finance Holdings surges after reorganization
The sector that includes NBFCs has been seeing a rally over the last three months, as these companies are well placed to benefit from a Budget that provides a boost to the rural sector, rural housing and farmers. Among these firms, L&T; Finance Holdings has in particular had a strong showing over the last couple of weeks. 40 percent of L&T; Finance’s loan portfolio is retail, and the rest wholesale. The company has been consolidating its core businesses over the last quarter, according to management. L&T; Finance has a core portfolio in rural and housing finance, and wholesale finance. The last quarterly breakup showed that growth was strong, with the company's YoY net profit growth at 28% as of the Q3. L&TFH; has increased its RoE by 2 percent percentage points to over 12% based on its recent quarters - an ROE level which the company last attained in March 2013. The performance puts it in a strong position overall - despite a decline in margins in the wholesale vertical. The company's tractor and two-wheeler lending saw a pickup in Q3 despite demonetization impact, and a rural friendly Budget means that the company's focus on rural and microfinance is likely to pay off in the coming quarters. The firm reduced unpredictability in its housing loans thanks to tightened norms for qualifying developers. The firm has been undergoing a reorganization in the past few months. L&TFH; management previously said in mid-January that they expect to get around Rs. 300-400 crore by selling off its ‘de-focussed products portfolio,’ which comprised car, three-wheeler and commercial vehicle loans. The company noted that it had tried to sell the diversified portfolio as a single piece, but found few firms interested in a wide product range. Consequently, LTFH has been selling the portfolio in sections to various buyers. It has completely stopped disbursements in these portfolio products, focusing instead on its core businesses, which has helped improve the company's ROE - the non-focus products had been shrinking, and in the September quarter had fallen 31% to Rs. 3,817 crore. This 'defocused' business is now just 4% of the company's lending book. Investors like Harsh Mariwala have come out in support of the company's reorganization, saying however that it would take a couple of years to "fully assess" the gains from the organizational shifts. Among analysts, Prabhudas Liladar, noting L&TFH;'s improving profitability, had issued a BUY report for the stock in January, and last week, L&TFH;'s share price crossed the expected share price target of Rs. 120 in the report. Outcome of Board Meeting
L&T; Finance Holdings Ltd has informed BSE that the Board of Directors of the Company at its meeting held on January 24, 2017 had revised the Code of Practices and Procedures for Fair Disclosure of Unpublished Price Sensitive Information ("Code").Accordingly, the Company has submitted the revised Code. Authorised KMPs to determine materiality of events/information
L&T; Finance Holdings Ltd has informed BSE regarding "Authorised Key Managerial Personnel to determine materiality of events/information". Investor/Analyst Presentation
L&T; Finance Holdings Ltd has submitted to BSE a copy of Investor/Analyst Presentation.