Buy L&T Finance Holdings, target price Rs 108: Religare Broking

Religare Broking has buy call on L&T Finance Holdings with a target price of Rs 108. The current market price of L&T Finance Holdings is Rs 99.31. Religare Broking recommended to keep stop loss at Rs 93.

L&T Finance Holdings, incorporated in the year 2008, is a Large Cap company (having a market cap of Rs 24375.17 Crore) operating in NBFC sector.

L&T Finance Holdings key Products/Revenue Segments include Dividend, Interest for the year ending 31-Mar-2022.


Financials
For the quarter ended 31-03-2023, the company has reported a Consolidated Total Income of Rs 3417.53 Crore, down -2.10 % from last quarter Total Income of Rs 3491.01 Crore and up 11.42 % from last year same quarter Total Income of Rs 3067.16 Crore. Company has reported net profit after tax of Rs 416.93 Crore in latest quarter.

The company’s top management includes Mr.S N Subrahmanyan, Mr.Dinanath Dubhashi, Mr.R Shankar Raman, Mr.P V Bhide, Dr.(Mrs.)Rajani Gupte, Mr.T Thomas Mathew, Mr.Shailesh Haribhakti, Mr.Pavninder Singh. Company has Deloitte Haskins & Sells LLP as its auditors. As on 31-03-2023, the company has a total of 248 Crore shares outstanding.

Investment Rationale
Inching gradually higher post short term reversal. Recent pause led formation of fresh buying pivot.

Promoter/FII Holdings
Promoters held 66.11 per cent stake in the company as of 31-Mar-2023, while FIIs owned 11.35 per cent, DIIs 6.58 per cent.