Q3 2026 L&T Finance Ltd Earnings Call Transcript
Key Points
- L&T Finance Ltd (BOM:533519) achieved the highest ever quarterly core PAT of INR760 crore, up 21% year-on-year.
- Retail disbursements reached a record high of INR22,701 crore, marking a 49% increase year-on-year.
- The company reported a strong growth in total income, up 18% year-on-year, with a stable operating cost trajectory.
- Net interest margin plus fees improved by 19 basis points to 10.41%, driven by yield and fee improvement and efficient liability management.
- The gold loan business gained significant momentum with quarterly disbursements up 43% quarter-on-quarter, and plans to expand to over 330 branches by the end of FY26.
- Global uncertainties and external headwinds continue to pose challenges, although the Indian economy has shown resilience.
- The company faced a one-time exceptional impact of the new labor code amounting to INR29 crore.
- Credit costs, although improving, remain a concern with a reduction of only 15 basis points quarter-on-quarter.
- The provision coverage ratio increased due to adherence to RBI's guidance, indicating higher provisioning requirements.
- The unsecured loan portfolio remains high at 44% of AUM, with a stated objective to reduce it to 40%, indicating potential risk exposure.
Ladies and gentlemen, good day, and welcome to the L&T Finance Limited Q3 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 Before we proceed, as a standard disclaimer, no unpublished price-sensitive information will be shared during the call.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 While all efforts would be made to ensure that no unpublished price-sensitive information will be shared, in case of any inadvertent disclosure, the same would, in any case, form part of the recording of the call.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 Q3 results presentation uploaded.
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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