L&t Finance Ltd · NSE:LTF
L&t Finance — Q4 FY26 Earnings Presentation
93 slides from L&t Finance's earnings presentation, Apr 24, 2026
Slide 1: Exchange submission letter
April 24, 2026 National Stock Exchange of India Limited BSE Limited Exchange Plaza, Corporate Relations Department, Plot No. C/1, G Block, 1st Floor, New Trading Ring, Bandra - Kurla Complex, Bandra (East), P. J. Towers, Dalal Street, Mumbai - 400 051. Mumbai - 400 001. Symbol: LTF Security Code No.
Slide 2: Investor Presentation Q4FY26 & FY26
L&T FINANCE Investor Presentation Q4FY26 & FY26
Slide 3: Disclaimer
Disclaimer L&T Finance Limited (the “Company”) offers a range of financial products and services under the L&T Finance (LTF) brand. The information provided in this presentation by the Company is for information purposes only. This presentation or any information herein shall not be used, reproduced
Slide 4: Lakshya 2026 Concluding
L&T FINANCE Lakshya 2026 Concluding Disciplined execution in a dynamic business environment 3
Slide 5: Lakshya 2026 goals achievement status
Lakshya 2026 goals achievement status L&T FINANCE RETAIL CONSOL CONSOL RETAILISATION At launch GROWTH ASSET QUALITY ROA GS3 4.08% FY22 Q4: 51% Q4: 10% Q4: Q4: 1.33% | FY: 1.04% NS3 1.98% Lakshya 2026 goals GS3 <3% FY26 >95% >25% CAGR 2.8% - 3% NS3 <1% Achievement status GS3 2.88% Q4 : 98% Q4 : 26% Q
Slide 6: Lakshya 2026 Execution: Transition to AI driven Prime Retail franchise
Lakshya 2026 Execution : Transition to AI driven Prime Retail franchise While transforming Rural / Wholesale Retail from Lender Lender L&T FINANCE RE-ORIENTED LAKSHYA 2026 STRATEGY MIDWAY THROUGH Developed Digital AI stack Focus on Prime / Near-Prime In house developed, first of it’s kind customer p
Slide 7: Lakshya 2026 Report Card
Lakshya 2026 Report Card: Maintaining consistent upward trajectory FY26 vs Q4 Particulars FY22 FY23 FY24 FY25 FY26 FY22 FY26 L&T FINANCE Retailisation 51% 75% 94% 97% 98% 98% • Retailisation momentum progressed on schedule Yields 12.91% 13.61% 15.27% 15.20% 14.71% 14.80% • Low-yielding Wholesale boo
Slide 8: Lakshya 2031
Lakshya 2031 L&T FINANCE Accelerating Transformation, Delivering Sustainable Returns 7
Slide 9: Lakshya 2026 – 2031: Planning Cycle Blueprint
Lakshya 2026 – 2031: Planning Cycle Blueprint Becoming a Risk-First, Tech-First organisation Position L&T Finance as the ‘Premier AI-enabled BFSI institution in India’ L&T FINANCE by accelerating innovation velocity Build & maintain cycle-resilient portfolios with predictable risk amplitude variatio
Slide 10: Lakshya 2031 Goals
LAKSHYA 2031 GOALS 20%+ <2% 3.0% - 3.2% 16% - 18% BOOK GROWTH CREDIT COST ROA ROE Balancing resilient growth with consistent returns Early goal achievement should transition into sustained performance for the tenure of the plan 9
Slide 11: Executive Summary Q4FY26 & FY26
Executive Summary L&T FINANCE Q4FY26 & FY26 10
Slide 12: Executive Summary – Q4FY26 (1/6)
Executive Summary – Q4FY26 (1/6) Financial Performance Overview ❖ PAT for Q4FY26 at ₹ 807 Cr, growth of 27% YoY | RoA for Q4FY26 at 2.40% L&T FINANCE ❖ Retail disbursements for Q4FY26 at ₹ 24,107 Cr vs. 14,899 Cr in Q4FY25, growth of 62% YoY • Growth in secured disbursements led by Two-Wheeler Finan
Slide 13: Executive Summary – FY26 (2/6)
Executive Summary – FY26 (2/6) Financial Performance Overview ❖ Highest ever annual PAT (before effect of Labour Code considered in Q3FY26), at ₹ 3,003 Cr. PAT after one-time impact of the New Labour Code is ₹ 2,981 Cr L&T FINANCE ❖ Retailisation at 98% of overall book ❖ Retail book stands at ₹ 1,19
Slide 14: Executive Summary – Q4FY26 (3/6)
Executive Summary – Q4FY26 (3/6) Financial Performance Overview - Annual ECL Model Refresh ❖ In line with LTF’s Expected Credit Loss (ECL) provisioning policy, the Company undertakes refresh of the ECL model annually including recalibration of Probability of Default (PD) as well as Loss Given Defaul
Slide 15: Executive Summary – Q4FY26 (4/6)
Executive Summary – Q4FY26 (4/6) Financial Performance Overview - Annual ECL Model Refresh ❖ In perspective, the Company’s initiatives to further improve its credit underwriting as well as enhance the collection efforts using a variety of processes and L&T FINANCE tools have resulted in reducing the
Slide 16: Executive Summary – FY26 (5/6)
Executive Summary – FY26 (5/6) Financial Performance Overview ❖ Wholesale Book reduced to ₹ 2,220 Cr as on 31 Mar’26 from ₹ 2,582 Cr as on 31 Mar’25, reduction of 14% YoY ❖ Annual Update on Security Receipts (SRs): L&T FINANCE Net Security Receipts (SRs) book reduced to ₹ 4,808 Cr as on 31 Mar’26 fr
Slide 17: Executive Summary – Q4FY26 (6/6)
Executive Summary – Q4FY26 (6/6) Strategic & Operational Initiatives ❖ Project Cyclops & Nostradamus implementation status : Two- Farm Home Rural Group L&T FINANCE Product Wheeler Equipment SME Personal Loans & Loans & Gold Finance Loans Finance Finance Finance LAP MFI Project Cyclops – status Q3FY2
Slide 18: Financial Performance – Q4FY26
Financial Performance – Q4FY26 L&T FINANCE RETAIL DISBURSEMENT CONSOL NIMs+FEES CONSOL ROA ₹ 24,107 Cr 10.47% 2.40% +62% YoY |+6% QoQ +32bps YoY|+6bps QoQ +18bps YoY |+3bps QoQ RETAIL BOOK CONSOL PAT CONSOL ROE ₹ 1,19,508 Cr ₹ 807 Cr 11.71% +26% YoY |+7% QoQ +27% YoY |+6% QoQ +159bps YoY |+65bps QoQ
Slide 19: Financial Performance – FY26
Financial Performance – FY26 L&T FINANCE RETAIL DISBURSEMENT CONSOL NIMs+FEES CONSOL ROA ₹ 83,213 Cr 10.33% 2.37%* +39% YoY -26bps YoY -7bps YoY RETAIL BOOK CONSOL PAT CONSOL ROE ₹ 1,19,508 Cr ₹ 2,981 Cr* 11.25% +26% YoY +13% YoY +38bps YoY 18 * PAT & RoA before one-time impact of the New Labour Cod
Slide 20: AI Initiatives - Progress Report
L&T FINANCE AI Initiatives - Progress Report 19
Slide 21: Outcome of AI Implementations (1/5)
Outcome of AI Implementations (1/5) Two Wheeler Cyclops portfolio credit performance vs Industry Cyclops portfolio delinquency vs Industry Industry Avg (ex-LTF) NBFCs (ex-LTF) Pvt Banks Captive Financiers LTF Market Share Captive Financiers 10.0% L&T FINANCE 20% Others 3% 8.2% LTF 7% NBFC 7.1% 41% 5
Slide 22: Outcome of AI Implementations (2/5)
Outcome of AI Implementations (2/5) Leveraging AI for Collections across LTF’s Urban Finance businesses Proactive AI implementations contributing to collections improvement L&T FINANCE Pre Delinquency Management (PDM) Success % Self Cure % AI Bot Penetration PDM Success % AI Bot Penetration Self Cur
Slide 23: Outcome of AI Implementations (3/5)
Outcome of AI Implementations (3/5) In-house developed AI solutions driving operational efficiencies SEP SENP SME Finance Pre Project Cyclops L&T FINANCE & Helios 21 hr 37 hr Underwriting TAT reduction after Helios Post Project Cyclops Co-pilot 14 hr 25 hr & Helios 10 No of enterprise-wide AI Co-pil
Slide 24: Outcome of AI Implementations (4/5)
Outcome of AI Implementations (4/5) Efficacy of Cyclops implementation Indexed representation of NNS % for Two Wheeler Finance Base month Mar-24 207% Two Wheeler Cyclops 196% 200% L&T FINANCE 190% 176% 176% 167% 151% fully implemented Indexed NNS% 2W 122% 88% 100% 38% 23% 11% 23% 19% 18% 17% 26% 25%
Slide 25: Outcome of AI Implementations (5/5)
Outcome of AI Implementations (5/5) AI platforms enabling creation of use cases at an industrial scale L&T AI / ML -FINANCE consumable internal 25 30 36 47 data in Enterprise Warehouse (in TB) Q1 Q2 Q3 Q4 FY26 FY26 FY26 FY26 Underwriting Models consumed in Cyclops & 70 72 82 87 Nostradamus (nos.) Q1
Slide 26: 5 Pillar Strategy – An Update
L&T FINANCE 5 Pillar Strategy – An Update 25
Slide 27: Pillar strategy to deliver on Lakshya goals
5 Pillar strategy to deliver on Lakshya goals L&T 1 FINANCE 2 3 4 5 Implementing Enhancing Sharpening Heightened Capability Futuristic Customer Acquisition Credit Underwriting Brand Visibility Building Digital Architecture • Broadening customer • Optimizing digital • Enhancing brand • Focused enhanc
Slide 28: Pillar 1: Enhancing Customer Acquisition
Pillar 1: Enhancing Customer Acquisition Rural & Urban Q4 FY25 Q1 FY26 Q2 FY26 Q3 FY26 Q4 FY26 Customer Funnels New Customer Acquisition L&T FINANCE New Customer Acquisition Attracting new (no. in lacs) 5.2 5.5 5.9 6.9 8.3 customers Expanding Reach Rural Group Loans & MFI New villages activated (nos
Slide 29: Pillar 1: Enhancing Customer Acquisition
Pillar 1: Enhancing Customer Acquisition Rural & Urban Q4 FY25 Q1 FY26 Q2 FY26 Q3 FY26 Q4 FY26 Customer Database Cross-sell & up-sell L&T FINANCE RURAL URBAN Total Retail Repeat 49% 49% 51% 48% 45% disbursement share (Count) Total Retail Repeat 36% 35% 40% 40% 43% disbursement share (Value) Rural Gr
Slide 30: Pillar 2: Sharpening Credit Underwriting (1/11)
Pillar 2: Sharpening Credit Underwriting (1/11) Operationalised ‘Project Cyclops’ in Two Wheeler, Farm Equipment Finance, SME Finance and Personal Loans NEXT-GEN OMNI-PRODUCT AND OMNI-CUSTOMER UNDERWRITING ENGINE Raw Data Pre-processed Data ML Model BRE L&T FINANCE Existing to Bureau ETC Credit • ET
Slide 31: Pillar 2: Sharpening Credit Underwriting (2/11)
Pillar 2: Sharpening Credit Underwriting (2/11) Rural Business Finance – Stringent Portfolio Policy & Sourcing Norms Rural Group Loans (JLG) & Micro Finance (JLG) L&T FINANCE Strong credit guardrails implemented over the years continues to reflect enhanced portfolio resilience 30
Slide 32: Pillar 2: Sharpening Credit Underwriting (3/11)
Pillar 2: Sharpening Credit Underwriting (3/11) Rural Business Finance – Stringent Portfolio Policy & Sourcing Norms Rural Group Loans (JLG) & Micro Finance (JLG) L&T FINANCE Monthly customer leverage tracker Strong Early Warning Signals Exclusive Risk Control Unit Comprehensive customer leverage tr
Slide 33: Pillar 2: Sharpening Credit Underwriting (4/11)
Pillar 2: Sharpening Credit Underwriting (4/11) Rural Business Finance – Stringent Portfolio Policy & Sourcing Norms Rural Group Loans (JLG) & Micro Finance (JLG) L&T FINANCE LTF - Association wise customer composition at sourcing (% of disbursements) Association Q2FY24 Q3FY24 Q4FY24 Q1FY25 Q2FY25 Q
Slide 34: Pillar 2: Sharpening Credit Underwriting (5/11)
Pillar 2: Sharpening Credit Underwriting (5/11) Rural Business Finance – Industry leading portfolio cohorts with excellent CE Customer Association on Rural Group Loans & Microfinance loan book (%) +15% Q1FY25 Q2FY25 Q3FY25 Q4FY25 Q1FY26 Q2FY26 Q3FY26 Q4FY26 L&T FINANCE 51% 53% 48%49% +5% 50% 45% 43%
Slide 35: Pillar 2: Sharpening Credit Underwriting (6/11)
Pillar 2: Sharpening Credit Underwriting (6/11) …and a robust portfolio Rural Group Loans (JLG) & Micro Finance (JLG) Basis rolling 12-month sourcing cohorts L&T FINANCE 98.8% 98.7% 98.7% 98.9% 98.4% 100,000 5+ Yrs ATS (in ₹) 80,000 3-5 Yrs On Due Date 60,000 vs Borrower 1-3 Yrs (ODD) CE % 40,000 Vi
Slide 36: Pillar 2: Sharpening Credit Underwriting (7/11)
Pillar 2: Sharpening Credit Underwriting (7/11) Leading to a robust portfolio Farm Equipment Finance Two Wheeler Finance 78% 78% L&T FINANCE72% 76% 76% 77% Basis rolling 12-month 71% 71% 71% 71% 10.0 80% 130 74% 9.0 78% sourcing cohorts LTV 120 LTV 72% LTV % 8.0 LTV % 76% 110 7.0 114K 115K 114K 114K
Slide 37: Pillar 2: Sharpening Credit Underwriting (8/11)
Pillar 2: Sharpening Credit Underwriting (8/11) Journey towards building a Prime-dominant Two Wheeler portfolio Two Wheeler Finance L&T FINANCE Prime share in disbursements Prime share on book 89% 89% 90% 79% 82% 74% 73% 75% 76% 51% 52% 54% Jan Feb Mar Jan Feb Mar Q4FY25 Q4FY26 Q4FY25 Q4FY26 Project
Slide 38: Pillar 2: Sharpening Credit Underwriting (9/11)
Pillar 2: Sharpening Credit Underwriting (9/11) Journey towards quality sourcing - Two Wheeler Finance portfolio Two Wheeler Finance L&T FINANCE Indexed representation of TW Portfolio Bounce (%) Calculation methodology : Portfolio Bounce % in Mar’24 is taken as the base on an index of 100%; E.g. Bou
Slide 39: Pillar 2: Sharpening Credit Underwriting (10/11)
Pillar 2: Sharpening Credit Underwriting (10/11) Journey towards quality sourcing – Farm Equipment Finance portfolio Farm Equipment Finance L&T FINANCE Indexed representation of Farm Net Non Starters (NNS) % Calculation methodology : NNS % in Mar’24 is taken as the base on an index of 100%; E.g. NNS
Slide 40: Pillar 2: Sharpening Credit Underwriting (11/11)
Pillar 2: Sharpening Credit Underwriting (11/11) Leading to a robust portfolio Home Loans LAP 82 91 95 L&T FINANCE 73 76 78 84 85 Basis rolling 12-month 120% 71 90 80 120% 81 100 90 sourcing cohorts 100% 100% ATS 70 ATS ATS 80 ATS 70 80% 60 80% (₹ in lacs) 50 LTV (₹ in lacs) 60 LTV & 60% 40 & 60% 50
Slide 41: Pillar 3: Implementing Futuristic Digital Architecture
Pillar 3: Implementing Futuristic Digital Architecture Engineering for tomorrow – Future Tech Landscape | Ongoing Tech initiatives, continue to be on track L&T FINANCE Established Machine Learning operations department Fully established data science library with >7 alternate data channels with 100+
Slide 42: Pillar 3: Project Nostradamus implementation progressing satisfactorily
Pillar 3: Implementing Futuristic Digital Architecture Project Nostradamus implementation progressing satisfactorily Consent Layer Model Orchestration L&T FINANCE Job Dashboard Qlik Dashboard Modelling Nostradamus Models EDX (Exchange Data Customer Level Models (EWS, Banking External EDX Server) Sta
Slide 43: Pillar 4: Heightened Brand Visibility
Pillar 4: Heightened Brand Visibility L&T FINANCE Participated in World Forum of Accountants 2.0, Branch Visibility at Gold Loan Branches the flagship event of ICAI Continued LTF Brand visibility momentum 42
Slide 44: Pillar 5: Capability Building & Employee Initiatives
Pillar 5: Capability Building & Employee Initiatives Gold Loan Branches Sampoorna Branches (Multi-product branches along with Gold Loan) L&T FINANCE Acquired Gold Loan business in Jun-25 with 130 branches. Opened 200 new branches till Mar-26 330 Branches 30 Branches Building capabilities in new busi
Slide 45: Business Update
L&T FINANCE Business Update 44
Slide 46: Retail disbursement increased by 62% on YoY basis
Retail disbursement increased by 62% on YoY basis ₹ in Cr Rural Business Finance Farmer Finance +41% +16% L&T FINANCE RETAIL FINANCE 6,740 7,208 5,114 2,783 1,755 2,037 +62% Gold Finance Q4FY25 Q3FY26 Q4FY26 Q4FY25 Q3FY26 Q4FY26 24,107 +7% -27% 22,701 - 14,899 Urban Finance SME Finance 2,779 1,408 +
Slide 47: Retail book growth of 26% YoY
Retail book growth of 26% YoY ₹ in Cr Rural Business Finance Farmer Finance +17% +12% L&T FINANCE RETAIL FINANCE 26,320 28,976 30,805 15,219 16,671 16,970 +26% Gold Finance Q4FY25 Q2FY26 Q4FY26 Q4FY25 Q3FY26 Q4FY26 119,508 +6% +2% 111,990 - 95,180 Urban Finance SME Finance 2,845 1,738 +29% +30% 55,4
Slide 48: Collection Efficiency (1/3)
Collection Efficiency (1/3) 0 DPD CE = POS of 0 DPD collected / POS of 0 DPD billed RURAL BUSINESS FINANCE 0 DPD CE % L&T FINANCE RURAL GROUP LOANS & MICRO FINANCE (JLG) 99.3% 99.4% 99.4% 99.8% 99.5% 99.5% 99.5% 99.6% 99.6% 99.7% 99.7% 99.7% 100.00% 99.50% 104.00% 99.00% 102.00% 98.50% 100.00% 98.00
Slide 49: Collection Efficiency (2/3)
Collection Efficiency (2/3) L&T FINANCE FARMER FINANCE FARM EQUIPMENT FINANCE RURAL 93.0% 92.4% 94.0% 93.5% 92.5% 93.8% 92.2% 91.4% 92.1% 91.5% 89.8% 89.8% 91.8% 91.5% 92.8% 92.4% 91.6% 93.0% 91.1% 90.7% 90.8% 90.3% 88.4% 88.9% Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Robust customer selectio
Slide 50: Collection Efficiency (3/3)
Collection Efficiency (3/3) URBAN FINANCE L&T FINANCE TWO WHEELER FINANCE PERSONAL LOANS HOME LOANS & LAP SME FINANCE Stable collection efficiencies on account of Project Cyclops implementation (Two-Wheeler) & portfolio interventions 49 Regular CE = cashflow received from 0 DPD customer for billing
Slide 51: Retail Asset Quality (1/4)
Retail Asset Quality (1/4) Normalised asset quality – Rural Group Loans & MFI Best-in-class 0 DPD portfolio and PAR trends vis-à-vis the Industry L&T FINANCE0 DPD book Industry 87.2% 86.8% 87.4% 86.9% 83.5% 80.2% 78.9% 77.0% 75.2% 75.5% - LTF 96.8% 97.1% 97.0% 96.8% 96.4% 95.8% 94.9% 95.1% 95.5% 95.
Slide 52: Retail Asset Quality (2/4)
Retail Asset Quality (2/4) ‘0 DPD’ for our 3 fulcrum products L&T FINANCE RURAL GROUP LOANS & MICRO FARM EQUIPMENT FINANCE TWO WHEELER FINANCE FINANCE (JLG) 96.4% 91.6% 89.0% 80.7% 81.0% 75.5% Industry LTF Industry LTF Industry LTF Best-in-class 0 DPD portfolio of LTF vis-à-vis the Industry 51 Indus
Slide 53: Retail Asset Quality (3/4)
Retail Asset Quality (3/4) Stagewise assets & provision summary G Q4FY25 Q3FY26 Q4FY26 R Stage wise (in ₹ Cr) Q4FY25 Q3FY26 Q4FY26 (% of Total) (% of Total) (% of Total) O S Stage 1 90,027 94.59% 1,06,677 95.26% 1,14,434 95.75% L&T FINANCE S A Stage 2 2,390 2.51% 2,138 1.91% 2,045 1.71% S S Stage 3
Slide 54: Retail and Consol Asset Quality (4/4)
Retail and Consol Asset Quality (4/4) Retail and Consol GS3 L&T FINANCE RETAIL - ASSET QUALITY CONSOLIDATED – ASSET QUALITY 73% 73% 68% 71% 72% 67% 5,000 4,950 4,900 13% 4,850 4,800 4,750 5,000 4,700 4,650 4,600 4,550 4,500 4,450 4,400 4,350 4,300 4,250 4,200 4,150 4,100 11% 4,500 4,050 4,000 3,950
Slide 55: Proactive Asset Liability Management
Proactive Asset Liability Management DIVERSIFIED LIABILITY MIX (%) WEIGHTED AVERAGE COST OF BORROWING (WACB) (%) L&T FINANCE 8% 2% 3% Bank Loan - Non-PSL 8% 7.80% 7.83% Bank Loan - PSL 7.50% 1% 7% 27% 1% 7% 28% 7.46% 7.35% FI Loan 21% NCD Private FY22 FY23 FY24 FY25 FY26 26% Retail NCD 26% 26% 7.83%
Slide 56: Annexures
ANNEXURES 55
Slide 57: Index of Annexures
Index of Annexures L&T FINANCE I Dominant Retail Franchise built over a decade II Financials III Other Annexures 56
Slide 58: L&T Finance Pedigree & Position
L&T Finance Pedigree & Position L&T FINANCE Top 10 Retail NBFCs Part of illustrious Upper Layer NBFC Amongst Highest Credit Top Notch L&T group as per RBI classification Top Retail NBFCs Rating – ‘AAA’ ESG Ratings Built on the foundation of Trust & Commitment 57
Slide 59: Retail Businesses
Retail Businesses Rural Group Loans & Two Wheeler Finance Micro Finance (JLG) L&T Rural FINANCE Business Finance Micro LAP Urban Home Loans & LAP Finance Q1 40% Portfolio FY24 60% Mix Farm Equipment Finance Personal Loans Farmer RURAL URBAN Finance Agri Allied Finance SME Loans to SME Professionals
Slide 60: Retail Franchise & Right to Win
Retail Franchise & Right to Win DIVERSIFIED RETAIL NBFC L&T FINANCE Q1 ~2.4 Cr 40% Portfolio FY24 60% Mix downloads Pan-India presence RURAL URBAN Leveraging 2.8 Cr+ ~14,000 Optimised Digital Service ~2,00,000 Villages customer franchise Distribution & Distribution delivery 450+ Cities / Towns for c
Slide 61: Granular and extensive distribution network
Granular and extensive distribution network State Rural Branches Urban Branches 18 ~2,00,000 23 4 450+ Madhya Pradesh 95 56 States Villages States UT Cities / Towns Maharashtra 99 30 L&T FINANCE Uttar Pradesh 174 30 Gujarat 104 42 Karnataka 247 32 West Bengal 124 34 Andhra Pradesh 91 12 Telangana 73
Slide 62: Market dominance through fulcrum product (1/3)
Market dominance through fulcrum product built over a decade (1/3) Rural Group Loans and Micro Finance (JLG) - amongst the Leading Financiers Well diversified Operational Customer footprint excellence Centricity L&T FINANCE Rural Group Loans & Micro Finance (JLG) • Automated underwriting; geo- • 17
Slide 63: Market dominance through fulcrum product (2/3)
Market dominance through fulcrum product built over a decade (2/3) Farm Equipment Finance – amongst the Leading Financiers Well diversified Dealer / OEM Customer footprint Relationship Centricity L&T FINANCE Farm Equipment Finance • 180+ branches across 16 states • 2,700+ Dealers • Retention product
Slide 64: Market dominance through fulcrum product (3/3)
Market dominance through fulcrum product built over a decade (3/3) Two Wheeler Finance - amongst the Leading Financiers Well diversified Dealer / OEM Customer footprint Relationship Centricity L&T FINANCE Two Wheeler Finance • 8,500+ Sourcing points • Straddle continuum from New To • 160+ branches a
Slide 65: Index of Annexures
Index of Annexures L&T FINANCE I Dominant Retail Franchise built over a decade II Financials III Other Annexures 64
Slide 66: RoA trajectory over Lakshya 2026 journey
RoA trajectory over Lakshya 2026 journey Endeavouring to drive consistency and predictability through cycles Consolidated LTF Q4 FY22 Q1 FY23 Q2 FY23 Q3 FY23 Q4 FY23 Q1 FY24 Q2 FY24 Q3 FY24 Q4 FY24 Q1 FY25 Q2 FY25 Q3 FY25 Q4 FY25 Q1 FY26 Q2 FY26 Q3 FY26 Q4FY26 Retailisation 51% 54% 58% 64% 75% 82% 8
Slide 67: Lending Business – Business wise disbursement split
Lending Business – Business wise disbursement split Disbursement Q4FY25 Q3FY26 Q4FY26 Y-o-Y (%) Particulars (₹ Cr ) FY25 FY26 Y-o-Y (%) Farmer Finance L&T FINANCE 1,755 2,783 2,037 16% Farm Equipment Finance 7,935 8,674 9% 5,114 6,740 7,208 41% Rural Business Finance 20,921 25,882 24% 4,793 6,347 6,
Slide 68: Lending Business – Business wise book split
Lending Business – Business wise book split Book Q4FY25 Particulars (₹ Cr ) Q3FY26 Q4FY26 Y-o-Y (%) Farmer Finance L&T FINANCE 15,219 Farm Equipment Finance 16,671 16,970 12% 26,320 Rural Business Finance 28,976 30,805 17% 25,838 Rural Group Loans & Micro Finance Loans 27,874 29,367 14% 482 Micro LA
Slide 69: LTF Consolidated – Summary financial performance
LTF Consolidated – Summary financial performance Performance Summary Q4FY25 Q3FY26 Q4FY26 Y-o-Y (%) Particulars (₹ Cr ) FY25 FY26 Y-o-Y (%) 3,535 4,110 4,296 22% Interest Income 14,044 15,948 14% L&T FINANCE 1,600 1,703 1,747 9% Interest Expense 5,997 6,720 12% 1,936 2,407 2,549 32% NIM 8,048 9,228
Slide 70: LTF Consolidated – Summary financial performance
LTF Consolidated – Summary financial performance Performance Summary L&T FINANCE Q4FY25 Q3FY26 Q4FY26 Y-o-Y (%) Particulars (₹ Cr ) FY25 FY26 Y-o-Y (%) 97,762 114,285 121,728 25% Closing Book 97,762 121,728 25% 96,357 111,262 117,738 22% Average Book 92,402 108,384 17% 25,564 27,108 27,984 9% Networ
Slide 71: LTF Consolidated – Key ratios
LTF Consolidated – Key ratios Key Ratios Q4FY25 Q3FY26 Q4FY26 Key Ratios FY25 FY26 14.88% 14.66% 14.80% Yield 15.20% 14.71% L&T FINANCE 8.15% 8.58% 8.78% Net Interest Margin 8.71% 8.51% 2.01% 1.83% 1.70% Fee & Other Income 1.88% 1.82% 10.15% 10.41% 10.47% NIM + Fee & Other Income 10.59% 10.33% 4.22%
Slide 72: Index of Annexures
Index of Annexures Dominant Retail Franchise built over a decade L&T FINANCE I II Financials III Other Annexures PLANET and Digital Update Asset Liability Management & Credit Ratings Sustainability (ESG & CSR) Board and Senior Management 71
Slide 73: App as a powerful digital channel for customer (1/3)
App as a powerful digital channel for customer (1/3) PLANET App Features ‘PLANET’ APP FEATURES ‘Partner PLANET’ APP FEATURES (Launched in March 2022) (Launched in Oct 2025) L&T FINANCE Servicing features Engagement features Building a smarter Dealer ecosystem View Loan Details & update Profile Aucti
Slide 74: Developing digital finance delivery as a customer value proposition
Developing digital finance delivery as a customer value proposition L&T₹ FINANCE 9,500 Cr+ Collections ~₹ 29,000 Cr Sourcing 12 Cr+ Servicing Experience 19.2 Lac Rural Customers ₹ in Cr Q4 FY24 Q1 FY25 Q2 FY25 Q3 FY25 Q4 FY25 Q1 FY26 Q2 FY26 Q3 FY26 Q4 FY26 SOURCING 1,126 1,024 1,683 2,027 2,256 2,8
Slide 75: App as a powerful digital channel for customer (3/3)
App as a powerful digital channel for customer (3/3) PLANET App: Service Measurement Metrics upto Q4FY26 Update Count in lacs Q4 FY24 Q1 FY25 Q2 FY25 Q3 FY25 Q4 FY25 Q1 FY26 Q2 FY26 Q3 FY26 Q4 FY26 L&T FINANCE SERVICING 85.8 90.4 101.1 126.6 134.2 122.4 145.0 155.7 173.8 RESOLUTION Mainly includes:
Slide 76: Digital delivery: Touching every part of the customer ecosystem
Developing digital finance delivery as a customer value proposition Digital delivery: Touching every part of the customer ecosystem L&T FINANCE 100% 100% 99% 43% 97% Paperless Journey in Rural Group Loans, Digital eNach Digital Digital 2W Finance, Disbursements Penetration Collections Collections Fa
Slide 77: Marked improvement in Rural Digital collections
Marked improvement in Rural Digital collections 40% L&T FINANCE 35% 35% 27% 29% 21% 23% 23% 19% Rural Group Loans 10% 3% 3% 5% & Micro Finance (JLG) Apr'23 Jun'23 Sep'23 Dec'23 Mar'24 Jun'24 Sep'24 Dec'24 Mar'25 Jun'25 Sep'25 Dec'25 Mar'26 67% 64% 61% 63% 63% 59% 53% 53% 47% 48% 41% 38% 32% Farm Equ
Slide 78: Net Promoter Score
Net Promoter Score Investing in enriching customer experience to build brand loyalty LTF achieved an overall Net Promoter Score (NPS) of 59 L&T FINANCE 57 55 57 68 72 69 Rural Group Loans & Farm Equipment Two Wheeler Personal Home Loans SME Micro Finance (JLG) Finance Finance Loans & LAP Loans NPS i
Slide 79: Index of Annexures
Index of Annexures Dominant Retail Franchise built over a decade L&T FINANCE I II Financials III Other Annexures PLANET and Digital Update Asset Liability Management & Credit Ratings Sustainability (ESG & CSR) Board and Senior Management 78
Slide 80: Prudent ALM - as on March 2026
Prudent ALM - as on March 2026 Structural Liquidity statement 85,030 L&T FINANCE Cumulative Inflows (₹. Cr) Cumulative Outflows (₹. Cr) 53,217 38,220 40,927 28,579 25,140 18,487 19,637 21,039 16,276 8,694 1,436 1,595 2,762 1-7 days 8-14 days 14 days-1 month 1-2 months 2-3 months 3-6 months 6-12 mont
Slide 81: Credit rating: Update
Credit rating: Update AAA credit rating – Domestic Rating Agencies L&T FINANCE Rating Agency Long-term / Short-term Rating of LTF Crisil Ratings, ICRA, CARE, India Ratings AAA / Stable / A1+ The ‘AAA’ rating is driven by LTF’s diversified business mix with strong presence across the financial servic
Slide 82: Index of Annexures
Index of Annexures Dominant Retail Franchise built over a decade L&T FINANCE I II Financials III Other Annexures PLANET and Digital Update Asset Liability Management & Credit Ratings Sustainability (ESG & CSR) Board and Senior Management 81
Slide 83: Businesses aligned with Sustainability goals
L&T Finance – Businesses aligned with Sustainability goals L&T FINANCE 40% of the loan book franchise is towards financing sustainable livelihoods; 66% of workforce is employed from Rural 82 SDG – Sustainable Development Goals
Slide 84: ESG: Building a Sustainable Future – Key Highlights
ESG : Building a Sustainable Future – Key Highlights LTF becomes a Signatory to the United Nations Global Compact (UNGC) Ranked 1st Among India’s Most Sustainable Companies (IMSC) - Recognised by Businessworld Awards as IMSC in Financial Services L&T FINANCE Climate Engagement *Note: Study conducted
Slide 85: ESG: Building a Sustainable Future – Key Metrics
ESG : Building a Sustainable Future – Key Metrics Diversity at Workplace 7.4% female participation Convergence of Social Schemes: Rs. 240 Cr + L&T FINANCE Financial Inclusion of Rural Communities: Sensitization of Rural Communities 15.80+ lakh on Cyberfraud: 1 lakh+ ESG Training module: 40,295 hrs.
Slide 86: ESG: Building a Sustainable Future – Ratings
ESG : Building a Sustainable Future – Ratings L&T FINANCE NSE 75 (December 2025) Sustainability Ratings & Analytics CRISIL ESG Ratings 70 categorised as 'Strong (July 2025) & Analytics Performed in top decile in the FBN Diversified Financial Services and Capital Markets Industry in the S&P Global Co
Slide 87: Corporate Social Responsibility FY26
Corporate Social Responsibility FY26 L&T FINANCE 86
Slide 88: Meaningful CSR Impact
Meaningful CSR Impact Since FY18 States Districts Villages Overall Outreach Leading the way! 15 29 4,950+ 78 Lakh+ ISO 26000:2010 Social Responsibility L&T FINANCE Digital and Financial Inclusion Climate Impact Management Digital Sakhi Project Prakruti (Plantation) | Jalvaibhav 69 Lakh+ community ou
Slide 89: Corporate Social Responsibility
Corporate Social Responsibility Communication & Recognition Communication Recognition L&T FINANCE 88
Slide 90: Index of Annexures
Index of Annexures Dominant Retail Franchise built over a decade L&T FINANCE I II Financials III Other Annexures PLANET and Digital Update Asset Liability Management & Credit Ratings Sustainability (ESG & CSR) Board and Senior Management 89
Slide 91: Well experienced and diversified Board
Well experienced and diversified Board BOARD OF DIRECTORS L&T FINANCE S.N. Subrahmanyan, Non-Executive Director, Chairman o Current Chairman & Managing Director of Larsen and Toubro Limited. Sudipta Roy, Managing Director & CEO o 29 years of experience across multiple domains in BFSI such as o Over
Slide 92: Management Committee
Management Committee Sudipta Roy Managing Director & CEO 29 yrs exp, ICICI Bank, Deutsche L&T FINANCE Bank, Citibank NA Raju Dodti Sonia Krishnankutty Sachinn Joshi COO CE – Rural Business Finance CFO 27 yrs exp, IDFC, Rabo, ABN 35 yrs exp, Aditya Birla Financial Amro, Soc Gen 26 yrs exp, Bank of Ba
Slide 93: Thank You
S) L&T Finance Thank You