L&T Finance Holdings share price: Buy L&T Finance Holdings, target price Rs 91: ICICI Securities
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has buy call on L&T Finance Holdings with a target price of Rs 91. The current market price of L&T Finance Holdings is Rs 71.35. Time period given by analyst is one year when L&T Finance Holdings Ltd. price can reach defined target.
L&T Finance Holdings Ltd., incorporated in the year 2008, is a Large Cap company (having a market cap of Rs 17658.44 Crore) operating in NBFC sector.
L&T Finance Holdings Ltd., incorporated in the year 2008, is a Large Cap company (having a market cap of Rs 17658.44 Crore) operating in NBFC sector.
L&T Finance Holdings Ltd. key Products/Revenue Segments include Dividend, Interest for the year ending 31-Mar-2022.
Financials
For the quarter ended 30-06-2022, the company reported a Consolidated Total Income of Rs 3135.80 Crore, up 2.24 % from last quarter Total Income of Rs 3067.16 Crore and down -2.05 % from last year same quarter Total Income of Rs 3201.49 Crore. Company reported net profit after tax of Rs 261.17 Crore in latest quarter.
Investment Rationale
Building in higher credit cost, the brokerage revises down earnings estimates by >25% for FY23E and >15% for FY24E. Penning in AUM growth of 3%/13% and RoE of ~8%/10% for FY23E/FY24E, respectively, it now expects the stock to trade at 1.1x FY24E book (earlier: 1.2x).
Promoter/FII Holdings
Promoters held 66.26 per cent stake in the company as of 31-Mar-2022, while FIIs owned 6.91 per cent, DIIs 4.57 per cent.
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