L&T Finance Ltd. share price target

L&T; Finance Holdings (LTFH) reported a strong PAT of Rs 3.6 bn, up ~45.2% YoY, primarily on a lower tax outgo (~6% tax rate; carry forward benefits). Loan book growth was healthy at 19% YoY (~Rs 723 bn; 23.2% YoY on focused business).

Asset quality improves despite shift to 90 dpd recognition Although LTFH moved to 90 days past due (dpd) non-performing assets (NPA) recognition across all business segments, it reported significant improvement in asset quality. Gross NPA ratio improved by 140 bps QoQ to 5.7% on the back of higher recoveries in tractor portfolio along with sale of infra loans worth Rs350 cr to ARC. Net NPA ratio improved by 171 bps QoQ to 3.3% on account of aggressive provisioning policy of the company. As a result, provision coverage ratio (PCR) also improved by 1264 bps QoQ to 42%. Notably, LTFH hired McKinsey and Oliver Wyman to improve risk management system. This enables LTFH to establish strong risk...

Asset quality improves despite shift to 90 dpd recognition Although LTFH moved to 90 days past due (dpd) non-performing assets (NPA) recognition across all business segments, it reported significant improvement in asset quality. Gross NPA ratio improved by 140 bps QoQ to 5.7% on the back of higher recoveries in tractor portfolio along with sale of infra loans worth Rs350 cr to ARC. Net NPA ratio improved by 171 bps QoQ to 3.3% on account of aggressive provisioning policy of the company. As a result, provision coverage ratio (PCR) also improved by 1264 bps QoQ to 42%. Notably, LTFH hired McKinsey and Oliver Wyman to improve risk management system. This enables LTFH to establish strong risk...

L&T; Finance Holdings (LTFH) reported a PAT of Rs 3.1 bn (up ~49% YoY), higher than our estimate of Rs 2.9 bn, driven by a healthy net income growth of ~30% YoY and lower tax outgo (11% tax rate; carry forward benefits). Loan book grew 18% YoY (~Rs 682 bn) with the housing book growing healthily at 3

Operating Income decreased by 93.4% to Rs. 15.81 Cr in Q1FY18 when compared to the previous quarter. Operating Income decreased by 93.4% to Rs. 15.81 Cr in Q1FY18 when compared to the previous quarter.

L&T Finance Holdings Ltd (LTFH), promoted by L&T Ltd (64.2%) is a leading NBFC with a diversified lending portfolio. Over the last one year the management has restructured its business model and is focusing on selective segments where it has competitive advantage, simultaneously downsizing some products which were making losses. O..

Q4FY17 PAT at Rs 3.2 bn (+33% YoY) due to cost rationalization and stable loan growth. Provisions shot up ~234% YoY to Rs 6.9 bn on additional provisions on loans in wholesale (accelerated provisioning) and rural book (adequate for 90 dpd transition).

BUY L&T Finance Holdings Ltd at Rs.106.8 and add on dips to band Rs. 89 - 93.5 for the Sequential Targets Rs. 120, 134

Investor's Delight: L&T; Finance Holdings Ltd. BUY L&T; Finance Holdings Ltd. is engaged in Retail lending (B2B and B2C), Wholesale lending, Investment Management and other services. It has a network of 100+ branches across 23 states, with 500+ rural points of presence. LTFH boasts of its PAN India reach...

deposit taking NBFC. It is promoted by Larsen & Toubro Limited (L&T;), one of the leading companies in India. L&T; Fin Holdings offers multitude of financial services through various subsidiaries across the corporate, retail and...