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L&T Finance Ltd.

Financial Services
Price research

Price history

1Y window · 2025-09-23 to 2026-09-23

Start 2025-09-23 ₹246.41
End 2026-09-23 ₹310.00
Change over window +25.81%
Methodology

Price is the daily close from stored Kite history. The other metrics pair that daily price with the company's periodic filings — each fundamental (revenue, EPS, equity…) is held flat at its latest filed value between annual filings, so a ratio steps at each filing and moves daily only through its price term. A metric with no input on file for this company (e.g. EV/EBITDA for a bank, which has no EBIT) is shown as unavailable, never guessed. Share-count-based metrics use the latest diluted share count against split/bonus-adjusted prices.

Technical analysis

Technical indicators

Same window as the price chart above

These reflect only the stock's recent price and volume behavior — not the company's fundamentals — and are not a recommendation to buy or sell. Standard published parameters are used throughout (see each chart's own label); a company with too little stored price history for a given indicator's lookback window shows that plainly below rather than a garbage or misleading value.

Latest value of each line in the charted window
Methodology

MACD (12,26,9), Stochastic Oscillator (14,3) and Money Flow Index (14-day) each carry their own published reference lines/bands (20/80 for the oscillator readings) where one is standard. ADX includes +DI/-DI for direction alongside trend strength; a dashed line marks the commonly published 25 "trending market" reading. ATR is shown in raw rupees here; the price/volume preset screen (below, and on the Screener page) reports it as a % of price so it's comparable across stocks at different price levels. Computed from the same stored daily OHLCV history as the price chart above — no new data source.

Ratios as of FY2025-26 Annual filing · published 2026-04-24
Price (live) ₹304.90 INR fetched 2026-09-23 02:25
Fundamental analysis

Ratios

Calculated from this company's filed figures, and from the current price where a ratio needs one. Every ratio shows its source trace: the filed elements it reads and the arithmetic behind the result.

P/E

25.52

P/E = Price / EPS

Source trace FY2025-26 · Annual filing

P/E = Price / (ProfitOrLossAttributableToOwnersOfParent / PaidUpValueOfEquityShareCapital ÷ FaceValueOfEquityShareCapital) → ₹304.90 / (₹29,915,700,000 / 2,504,390,000 shares) = ₹304.90 / ₹11.95 EPS

ROE

10.69%

ROE = Net Income / Shareholder Equity

Source trace FY2025-26 · Annual filing

ROE = ProfitOrLossAttributableToOwnersOfParent / EquityAttributableToOwnersOfParent → ₹29,915,700,000 / ₹279,835,300,000 = 10.69%

Debt/Equity

3.90

Debt/Equity = Total Debt / Shareholder Equity

Source trace FY2025-26 · Annual filing

Debt/Equity = Borrowings + DebtSecurities / EquityAttributableToOwnersOfParent → ₹1,091,855,500,000 / ₹279,835,300,000 = 3.90

Current Ratio

N/A

Current Ratio = Current Assets / Current Liabilities

Not available

Missing current assets or current liabilities (common for banks, which report an unclassified balance sheet).

ROCE

7.83%

ROCE = EBIT / (Shareholder Equity + Total Debt)

Qualification This company's balance sheet has no current/non-current split (an NBFC-style filing) — for a lending business, Finance Costs is close to a core operating cost, so read ROCE here with that in mind.

Source trace FY2025-26 · Annual filing

ROCE = ProfitBeforeExceptionalItemsAndTax + FinanceCosts / (EquityAttributableToOwnersOfParent + Borrowings + DebtSecurities) → ₹107,467,600,000 / (₹279,835,300,000 + ₹1,091,855,500,000) = 7.83%

Dividend Yield

0.90%

Dividend Yield = (Dividends Paid / Diluted Shares Outstanding) / Price

Qualification This is cash paid during the fiscal year, not a per-share rate declared for it (no such element exists in the filing data) — timing can straddle interim/final dividends across years, and pre-FY2020-21 figures may include the since-abolished Dividend Distribution Tax, reading higher than later years for that reason alone.

Source trace FY2025-26 · Annual filing

Dividend Yield = (|DividendsPaidClassifiedAsFinancingActivities| / PaidUpValueOfEquityShareCapital ÷ FaceValueOfEquityShareCapital) / Price → (₹6,867,700,000 / 2,504,390,000 shares) / ₹304.90 = ₹2.74 / ₹304.90

Growth & quality

Growth & earnings trend

Computed from this company's stored annual filings. Each figure carries the filed values behind it as a tooltip.

Revenue CAGR · 3y 4.0%
Net profit CAGR · 3y 9.9%
Operating margin · FY2025-26 60.0%
ROCE · FY2025-26 38.3%

Revenue & Profit CAGR

Revenue (3y, 6.0y actual)
4.0%
Net Profit (3y)
9.9%
Revenue (5y, 6.0y actual)
4.0%
Net Profit (5y)
9.9%
Revenue (10y, 6.0y actual)
4.0%
Net Profit (10y)
9.9%

Operating Margin Trend

Eroding
FY2019-20
71.9%
FY2020-21
61.9%
FY2021-22
58.5%
FY2022-23
62.1%
FY2023-24
61.9%
FY2024-25
59.6%
FY2025-26
60.0%

ROCE Trajectory

FY2019-20
N/A
FY2020-21
N/A
FY2021-22
N/A
FY2022-23
36.7%
FY2023-24
35.7%
FY2024-25
37.0%
FY2025-26
38.3%

Earnings Quality

Net profit or operating cash flow was zero or negative in the base or latest year — a growth-rate comparison isn't defined across a sign change.

Sector-Relative Percentile

Sector · Financial Services
ROE 24th percentile Better than 21 of 88 sector peers (24th percentile).
ROCE 19th percentile Better than 12 of 62 sector peers (19th percentile).
Debt/Equity 20th percentile Better than 18 of 88 sector peers (20th percentile).
P/E 45th percentile Better than 40 of 88 sector peers (45th percentile).
Forensic accounting

Beneish M-Score

Eight year-over-year accounting indices (Beneish, 1999) computed for L&T Finance Ltd. across its two most recently stored annual filings. Read the disclosures below before anything past this paragraph.

This is not an accusation and not a finding that any manipulation occurred. Beneish's own paper is explicit that the score identifies companies whose accounting CHARACTERISTICS resemble those of a sample of past manipulators -- nothing more. StockProof never labels a company "manipulator", "red flag" or "suspicious", and never shows any list of companies ordered by this score. The eight components below -- factual statements about figures the company itself filed -- always come before the composite number, which is the inference, not the fact.

The M-Score is calibrated on 74 US-listed companies from 1982-1992 later found to have manipulated earnings (Beneish, M. D. (1999), "The Detection of Earnings Manipulation", Financial Analysts Journal 55(5)) -- not on any Indian company or era. Measured on StockProof's own Nifty 500 universe as of 2026-09-02, 13.6% of companies score above Beneish's own published cutoff. On any realistic base rate of actual earnings manipulation, that flag rate is overwhelmingly false positives, not overwhelmingly real ones.

No "Selling, General & Administrative Expense" element exists anywhere in NSE's filed data. The SGAI component below is approximated as Employee Benefit Expense + Other Expenses, divided by revenue -- a reasonable stand-in for a manufacturer, but for a services company this proxy is closer to the entire cost base than to SG&A specifically. This is disclosed because it is a genuine deviation from Beneish's published specification; its coefficient (-0.172) is the smallest of the eight, which bounds how far the approximation can move the composite.

This measures something different from a financial-distress score like Altman's Z-Score, and the two essentially never agree. Measured on StockProof's own 389-company overlap as of 2026-09-02: only 5 companies were flagged by both, an agreement rate (intersection ÷ union) of 6.2%, and a correlation between the two scores of +0.088 -- closely matching the independently measured +0.092 over 3,242 Malaysian-listed companies. A low Z-Score and a high M-Score are not corroborating each other; they are unrelated measurements.

Comparing FY2024-25FY2025-26

Index Value Beneish's own threshold Reading, vs. that threshold
DSRI — Days' Sales in Receivables Index N/A 1.031 This company's latest stored balance sheet does not disclose a current/non-current split -- the unclassified format used by NBFCs, HFCs and AMCs filing Ind-AS Division III, which has no such split by design. Two of the eight indices (AQI, LVGI) need it, so the composite cannot be computed here; this is a structural property of the filing format, not a lower-quality company.
GMI — Gross Margin Index N/A 1.014 This company's latest stored balance sheet does not disclose a current/non-current split -- the unclassified format used by NBFCs, HFCs and AMCs filing Ind-AS Division III, which has no such split by design. Two of the eight indices (AQI, LVGI) need it, so the composite cannot be computed here; this is a structural property of the filing format, not a lower-quality company.
AQI — Asset Quality Index N/A 1.039 This company's latest stored balance sheet does not disclose a current/non-current split -- the unclassified format used by NBFCs, HFCs and AMCs filing Ind-AS Division III, which has no such split by design. Two of the eight indices (AQI, LVGI) need it, so the composite cannot be computed here; this is a structural property of the filing format, not a lower-quality company.
SGI — Sales Growth Index N/A 1.134 This company's latest stored balance sheet does not disclose a current/non-current split -- the unclassified format used by NBFCs, HFCs and AMCs filing Ind-AS Division III, which has no such split by design. Two of the eight indices (AQI, LVGI) need it, so the composite cannot be computed here; this is a structural property of the filing format, not a lower-quality company.
DEPI — Depreciation Index N/A 1.077 This company's latest stored balance sheet does not disclose a current/non-current split -- the unclassified format used by NBFCs, HFCs and AMCs filing Ind-AS Division III, which has no such split by design. Two of the eight indices (AQI, LVGI) need it, so the composite cannot be computed here; this is a structural property of the filing format, not a lower-quality company.
SGAI — SG&A Index N/A 1.041 This company's latest stored balance sheet does not disclose a current/non-current split -- the unclassified format used by NBFCs, HFCs and AMCs filing Ind-AS Division III, which has no such split by design. Two of the eight indices (AQI, LVGI) need it, so the composite cannot be computed here; this is a structural property of the filing format, not a lower-quality company.
LVGI — Leverage Index N/A 1.111 This company's latest stored balance sheet does not disclose a current/non-current split -- the unclassified format used by NBFCs, HFCs and AMCs filing Ind-AS Division III, which has no such split by design. Two of the eight indices (AQI, LVGI) need it, so the composite cannot be computed here; this is a structural property of the filing format, not a lower-quality company.
TATA — Total Accruals to Total Assets N/A 0.018 This company's latest stored balance sheet does not disclose a current/non-current split -- the unclassified format used by NBFCs, HFCs and AMCs filing Ind-AS Division III, which has no such split by design. Two of the eight indices (AQI, LVGI) need it, so the composite cannot be computed here; this is a structural property of the filing format, not a lower-quality company.

Composite M-Score not computable — This company's latest stored balance sheet does not disclose a current/non-current split -- the unclassified format used by NBFCs, HFCs and AMCs filing Ind-AS Division III, which has no such split by design. Two of the eight indices (AQI, LVGI) need it, so the composite cannot be computed here; this is a structural property of the filing format, not a lower-quality company.

Financials

Quarterly trend

10 stored quarters

Revenue Net Profit Net Profit (loss quarter)
Metric (to shareholders basis) Q4 FY2023-24 Q1 FY2024-25 Q2 FY2024-25 Q3 FY2024-25 Q4 FY2024-25 Q1 FY2025-26 Q2 FY2025-26 Q3 FY2025-26 Q4 FY2025-26 Q1 FY2026-27 Source
Revenue ₹3,671.77 Cr. ₹3,784.61 Cr. ₹4,019.34 Cr. ₹4,097.58 Cr. ₹4,022.92 Cr. ₹4,259.57 Cr. ₹4,335.75 Cr. ₹4,578.27 Cr. ₹4,771.03 Cr. ₹5,243.31 Cr. RevenueFromOperations
Net Profit ₹559.76 Cr. incl. minority ₹553.02 Cr. ₹685.51 Cr. incl. minority ₹685.25 Cr. ₹695.58 Cr. incl. minority ₹696.68 Cr. ₹626.40 Cr. incl. minority ₹625.65 Cr. ₹636.17 Cr. incl. minority ₹635.84 Cr. ₹701.10 Cr. incl. minority ₹700.84 Cr. ₹734.84 Cr. incl. minority ₹734.88 Cr. ₹738.61 Cr. incl. minority ₹737.99 Cr. ₹850.31 Cr. incl. minority ₹809.16 Cr. ₹902.47 Cr. incl. minority ₹915.99 Cr. ProfitOrLossAttributableToOwnersOfParent
Basis

Primary figures are Revenue from Operations and Net Profit attributable to shareholders — the basis the ratios use. Where they differ, the companion Gross revenue (incl. inter-segment) and incl. minority net profit (the totals a news headline usually quotes) are shown beneath, each traceable to its own XBRL element. Quarters shown are however many are actually stored (up to 10).

Ownership

Shareholding pattern

Latest filing Jun 2026 · 12 filings on file

Promoter & Promoter Group
65.96%
Public
34.04%
Employee Trusts
0.00%
Promoter % Public %
Metric Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025 Mar 2026 Jun 2026
Promoter & Promoter Group 66.02% 65.90% 65.86% 66.37% 66.29% 66.25% 66.24% 66.16% 66.10% 66.03% 65.99% 65.96%
Public 33.98% 34.10% 34.14% 33.63% 33.71% 33.75% 33.76% 33.84% 33.90% 33.97% 34.01% 34.04%
Employee Trusts 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Source

Promoter vs. public shareholding, from NSE's own quarterly shareholding-pattern filings. This is the headline promoter/public split only — a further breakdown by FII/DII/mutual fund holders requires each filing's own detailed disclosure and isn't shown here.

Trading activity

Delivery volume

20 trading days shown

Latest (2026-09-23) 36.7%
Trailing 20-day average 46.6%
Date Traded Qty Delivery Qty Delivery %
2026-09-23 5926308 2173791 36.68%
2026-09-22 2577248 1240822 48.15%
2026-09-21 2617760 1337139 51.08%
2026-09-18 4647669 2077063 44.69%
2026-09-17 3499657 1189565 33.99%
2026-09-16 1797290 663553 36.92%
2026-09-15 3858315 2013046 52.17%
2026-09-11 3956142 1420717 38.25%
2026-09-10 4503846 2798157 62.13%
2026-09-09 2989428 1338565 44.78%
2026-09-08 1493719 630803 42.23%
2026-09-07 2068591 1052981 50.90%
2026-09-04 3279672 1522077 46.41%
2026-09-03 3194737 1457378 45.62%
2026-09-02 6165981 2701828 43.82%
2026-09-01 9359609 4785438 51.13%
2026-08-31 4489382 2598251 57.88%
2026-08-28 2889242 1434761 49.66%
2026-08-27 3273758 1746217 53.34%
2026-08-26 3557857 1510724 42.46%
Source

Delivery quantity/percentage from the NSE bhavcopy (DELIV_QTY/DELIV_PER) — the share of that day's traded volume that actually settled into a demat account, rather than being squared off intraday. A higher delivery percentage is commonly read as genuine accumulation/distribution rather than speculative same-day trading; this describes recent trading PATTERN, not the company itself, and is not a recommendation to buy or sell. A blank cell is a day NSE itself published no figure for, never a zero.

Insider trading activity

20 disclosures shown

Disclosed Person Category Type Mode Quantity Value (₹) Resulting stake Source
24 Mar 2022 LARSEN & TOUBRO LIMITED Promoters Buy Market Purchase 27163508 2214260507 65.18% XBRL
24 Mar 2022 LARSEN & TOUBRO LIMITED Promoters Buy Market Purchase 26795716 2196306959 66.26% XBRL
22 Mar 2022 LARSEN & TOUBRO LIMITED Promoters Buy Market Purchase 1379101 98253913 63.95% XBRL
22 Mar 2022 LARSEN & TOUBRO LIMITED Promoters Buy Market Purchase 9818259 688920725 63.90% XBRL
22 Mar 2022 LARSEN & TOUBRO LIMITED Promoters Buy Market Purchase 1551964 111641772 64.01% XBRL
22 Mar 2022 LARSEN & TOUBRO LIMITED Promoters Buy Market Purchase 1516799 109232735 64.08% XBRL
21 Oct 2021 Asheesh Goel Employees/Designated Employees Buy ESOP 33752 337520 0.00% XBRL
21 Oct 2021 Asheesh Goel Employees/Designated Employees Buy ESOP 45000 1555650 0.00% XBRL
21 Oct 2021 Raju Dodti Employees/Designated Employees Buy ESOP 120813 1208130 0.01% XBRL
21 Oct 2021 Keshav Loyalka Employees/Designated Employees Buy ESOP 45000 1579950 0.01% XBRL
21 Oct 2021 Sunil Prabhune Employees/Designated Employees Buy ESOP 65000 4234100 0.02% XBRL
21 Oct 2021 Sunil Prabhune Employees/Designated Employees Buy ESOP 170000 11073800 0.02% XBRL
21 Oct 2021 Sunil Prabhune Employees/Designated Employees Buy ESOP 350000 20685000 0.01% XBRL
14 Sep 2021 Taragupta Jena Employees/Designated Employees Sell Market Sale 27012 2282784 0.00% XBRL
13 Sep 2021 Gauresh Rajadhyaksha Employees/Designated Employees Sell Market Sale 3000 255000 0.00% XBRL
13 Sep 2021 Gauresh Rajadhyaksha Employees/Designated Employees Sell Market Sale 8875 754375 0.00% XBRL
08 Sep 2021 Gauresh Rajadhyaksha Employees/Designated Employees Sell Market Sale 10000 850000 0.00% XBRL
08 Sep 2021 Gauresh Rajadhyaksha Employees/Designated Employees Sell Market Sale 1783 151555 0.00% XBRL
31 Aug 2021 Mohit Richhariya Employees/Designated Employees Buy ESOP 13501 135010 0.00% XBRL
31 Aug 2021 Mohit Richhariya Employees/Designated Employees Sell Market Sale 30000 2399100 0.00% XBRL
About these disclosures

SEBI PIT (Prohibition of Insider Trading) Regulation 7 disclosures — designated persons (promoters, directors, KMPs, and their immediate relatives) reporting their own dealing in the company's securities, as NSE publishes them. Distinct from the SAST (Regulation 29 substantial-acquisition) filings on the market-wide SAST activity page. Public record only — this is descriptive disclosure data, not a signal, and is not a recommendation to buy or sell.

Filings & evidence

Source documents

FY2025-26 · Annual filing

The raw filing line items behind the figures on this page, and NSE's own filing document where NSE publishes one.

Source document — income statement (FY2025-26, raw filing line items)
Line itemFiled value
ProfitOrLossAttributableToOwnersOfParent29915700000.0
PaidUpValueOfEquityShareCapital ÷ FaceValueOfEquityShareCapital2504390000.0
Source document — balance sheet (FY2025-26, raw filing line items)
Line itemFiled value
Borrowings + DebtSecurities1091855500000.0
EquityAttributableToOwnersOfParent279835300000.0
Research notes

My notes