Q2 2026 L&T Finance Ltd Earnings Call Transcript
Key Points
- L&T Finance Ltd (BOM:533519) achieved a quarterly consolidated PAT of INR 745 crores, marking a growth of 5% quarter-on-quarter and 6% year-on-year.
- The retail book crossed the INR 1 lakh crore milestone, reflecting an 18% year-on-year growth.
- The company recorded its highest-ever quarterly disbursement of INR 18,896 crores, a 25% year-on-year increase.
- The implementation of Cyclops, an AI-powered digital underwriting engine, has shown promising results in reducing credit costs and improving portfolio quality.
- The gold loan segment outperformed expectations with significant momentum, achieving a quarterly disbursement of INR 98 crores.
- Consolidated NIM plus fee for the second quarter remained stable but was down by 64 basis points year-on-year.
- The farmer finance vertical saw a quarterly disbursement decline of 7% year-on-year and 25% quarter-on-quarter.
- Housing disbursements experienced a 2% quarter-on-quarter decline, attributed to competitive market conditions.
- The cost of funds has been a concern, although it has shown improvement due to strategic treasury management.
- Stage 2 provisioning has been declining, primarily due to the utilization of macro prudential provisions, which may impact future buffer levels.
Ladies and gentlemen, good day, and welcome to the L&T Finance Limited Q2 FY26 Earnings Conference Call. (Operator Instructions) Please note that this conference is being recorded.
We have with us today Mr. Sudipta Roy, Managing Director and CEO; Mr. Sachinn Joshi, CFO; and Mr. Raju Dodti, COO; and other members of the senior management team.
Before we proceed, as a standard disclaimer, no unpublished price-sensitive information will be shared during the call. Only publicly available documents will be referred to for discussions during interaction in the call. While all efforts would be made to ensure that no unpublished price-sensitive information will be shared in case of any in ad disclosure, the same would in any case for part of the recording of the call. Further, some of the statements made on today's call may be forward-looking in nature. A note to this effect is provided in the Q1 results presentation sent out to all of you earlier.
I would now like to invite Mr. Sudipta Roy to share his thoughts on the company's performance and the strategy of the company going
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