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Edge16 Oct 2026
Winner, Winner: The Chicken McNugget Story
How a 1940s breeding contest, a Cornell food scientist, and a hedge by Ray Dalio helped McDonald's turn the Chicken McNugget into a fast-food icon.
L&T Finance
L&T Finance (LTF) investor relations material
L&T Finance Q2 26/27 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q2 26/27 earnings summary16 Oct, 2026
Executive summary
Q2 FY2027 retail disbursements rose 27% YoY to ₹24,027 crore; consolidated book grew 28% to ₹1,36,635 crore and PAT increased 33% to ₹972.76 crore.
ROA improved to 2.60% and ROE to 13.56%; Lakshya 2031 targets book growth above 20%, ROA of 3.0%–3.2% and ROE of 16%–18%.
Unaudited consolidated and standalone results received unmodified limited-review conclusions from the joint statutory auditors.
Financial highlights
Consolidated Q2 total income was ₹5,484.23 crore, PBT ₹1,318.84 crore and PAT ₹972.76 crore; prior-year comparatives were ₹4,335.79 crore, ₹988.86 crore and ₹734.88 crore.
Consolidated H1 total income was ₹10,727.54 crore, PBT ₹2,555.12 crore and PAT ₹1,888.75 crore.
Management presentation reported consolidated income of ₹3,512 crore, interest income of ₹4,945 crore, NIM of ₹2,975 crore and earnings before credit cost of ₹2,145 crore.
Consolidated NIMs plus fees were 10.48%, versus 10.22% in Q2 FY2026; operating expenses were 4.08% and credit cost was 2.46%.
Retail book was ₹1,34,600 crore, up 29% YoY; consolidated book was ₹1,36,635 crore, up 28% YoY.
Outlook and guidance
Lakshya 2031 targets include book growth above 20%, credit cost below 2%, FY2031 ROA of 3.0%–3.2% and ROE of 16%–18%.
Credit cost guidance remains 2%–2.2% in Q4 FY2027; management expects ROA of 2.8%–3% by Q4 FY2027 and NIMs plus fees near the midpoint of the 10%–10.5% corridor over the next couple of quarters.
Rural disbursements are expected to increase cautiously in Q3, with stronger business momentum during the festive quarter; personal-loan disbursements are expected to grow in Q3 and Q4 as Cyclops rollout across partners nears completion.
Hercules customer launch is targeted for December 2026, with significant disbursement scale-up expected in Q4 FY2027 and early FY2028.
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Latest events from L&T Finance
- Q1 FY27 delivered record profit, strong growth, and digital-led efficiency, advancing Lakshya 2031 goals.LTF
Q1 26/27 - PAT reached ₹2,982.87 crore, retailisation at 98%, and a ₹2.75 dividend was recommended.LTFQ4 25/26
- PAT after exceptionals ₹739 crore, retailisation 98%, NIM plus fees 10.41%.LTFQ3 25/26
- AI-powered growth, risk management, and digital innovation drive strong financial targets.LTFInvestor Day 2025
- PAT up 6% YoY, retail book up 18%, and record disbursements with strong asset quality.LTFQ2 2026
- PAT up 17% YoY to ₹696 crore; retail book up 28% YoY; asset quality and digital gains strong.LTFQ2 24/25
- PAT up 29% YoY to INR 686 crore, retailisation at 95%, and robust asset quality maintained.LTFQ1 24/25
- Record PAT, robust retail growth, and tech-driven asset quality improvements with higher dividend.LTFQ4 24/25
- Retailisation at 97%, retail book up 23% YoY, PAT at ₹2,007.58 Cr, and strong digital execution.LTFQ3 24/25
Next L&T Finance earnings date
Q3 26/2715 Jan, 2027
L&T Finance
Next L&T Finance earnings date
Q3 26/2715 Jan, 2027
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Frequently asked questions
L&T Finance Limited is an India-based non-banking financial company (NBFC) that provides a range of financial products and services. The company operates in segments such as rural finance, housing finance, infrastructure finance, and investment management. Its offerings include farm equipment loans, two-wheeler loans, home loans, real estate financing, and project finance. L&T Finance serves retail, corporate, and institutional clients across urban and rural markets in India. The company is headquartered in Mumbai, India, and its shares are listed on the BSE.