L&T Finance Holdings Limited (LTFH), one of the leading Non-Banking Financial Companies (NBFCs) of the country, has recommended a final dividend of Rs. 2 per equity share (face value Rs. 10 per share) for the financial year 2022-23 at a board meeting held on June 8, 2023.This is the highest declared dividend by the Company till date. The dividend once approved by the members at the ensuing Annual General Meeting (AGM) will be paid within 30 days from the date of the AGM.
Speaking on the development, Mr. Dinanath Dubhashi, Managing Director and Chief Executive Officer, L&T Finance Holdings Ltd. said, “This announcement demonstrates our confidence in generating sustainable earnings, delivering value to the shareholders, and reflects positively on the strong financial position of the company. We have performed exceptionally well during the year on all parameters and this is evident in our financial results. Strong business performance coupled with a strengthened balance sheet with a Capital Adequacy Ratio of 24.52 percent in FY23 and adequate liquidity buffers positions the Company well on the trajectory to achieve its Lakshya 2026 targets.”
“The strategic initiatives that we have undertaken during FY23, the first year of the working of Lakshya plan, have helped us in achieving 75 percent retailisation which is almost nearing the greater than 80 percent retailisation goal of Lakshya envisaged for FY26.
We are committed to the interests of all our stakeholders, including the ~Rs. 7 lakh shareholders of the Company. Going forward, we will sustain our momentum towards creating a customer-focused and sustainable Fintech@Scale. The company will continue to
offer retail products which encircle the entire customer ecosystem, creating a bespoke cross-sell and up-sell franchise and optimum distribution strategy,” he added.
FY23 marked the completion of the first year of the four-year strategic plan – Lakshya 2026. The Company continues to remain focused on its four pillars of growth namely, a
strong growth and profitability engine, demonstrable strengths in risk management, creating a ‘Fintech@Scale’ and sustainable future growth through Environmental, Social
and Governance (ESG).
The Company recorded a Profit After Tax (PAT) of Rs. 1,623 crore (Consolidated) in FY23,
up 52 percent Year-on-Year (YoY). LTFH also recorded the highest annual retail disbursements at Rs. 42,065 crore driven by strong growth across all retail segments. Besides, the Company has achieved accelerated reduction in the wholesale book by 54 percent YoY to Rs. 19,840 crore. Also, the retail book size stood at Rs. 61,053 crore, up 35
percent YoY.