External broker reports(aggregated public sources), ICICI Securities Ltd

ICICI Securities Limited

External broker reports(aggregated public sources)

ICICI Securities Ltd

ICICI Securities Limited provides investment services. The Company provides corporate and investment banking, securities, wealth management, retail brokerage, initial public offerings, and advisory services. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

Equity Bottom-Up

<ul><li>L&amp;T Finance (LTF), during its Investor Digital Day 2024 (Link) (on 25 Nov’24), provided key insights into its project Cyclops – an AI-driven, multi-dimensional underwriting engine.</li><li>The MD &amp; CEO, as part of his opening address, highlighted LTF’s transition from being a wholesale lender to diversifying retail and digital initiatives, making it future ready with digital at the core.</li><li>Thereafter, LTF’s Chief Digital Officer and Chief AI &amp; Data Officer provided further insights into its futuristic digital architecture and how AI is driving growth.</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

L&amp;T Finance (LTF), during its Investor Digital Day 2024 (Link) (on 25 Nov’24), provided key insights into its project Cyclops – an AI-driven, multi-dimensional underwriting engine.The MD &amp; CEO, as part of his opening address, highlighted LTF’s transition from being a wholesale lender to diversifying retail and digital initiatives, making it future ready with digital at the core.Thereafter, LTF’s Chief Digital Officer and Chief AI &amp; Data Officer provided further insights into its futuristic digital architecture and how AI is driving growth.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

L&T Finance - LTF’s AI-Driven Multi-Dimensional Underwriting Engine – to Hog the Limelight

External broker reports(aggregated public sources), Motilal Oswal Financial Services Limited

Motilal Oswal

Motilal Oswal Financial Services Limited

Motilal Oswal Financial Services Limited is an Indian diversified financial services firm offering a range of financial products and services. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

<ul><li>L&amp;T Finance (LTF) reported 17% YoY growth in PAT to INR7b (in line) in 2QFY25. PPoP grew ~23% YoY to ~INR15.9b (in line).</li><li>Credit costs stood at INR6.5b (vs. MOFSLe of INR6b), translating into annualized credit costs of ~2.6% (vs.2.4% in 1QFY25 and 2.6% in 2QFY24).</li><li>Write-offs stood at INR6.6b (INR4.8b in 1Q). Consol. RoA/RoE stood at 2.6%/11.7% in 2Q.</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

L&amp;T Finance (LTF) reported 17% YoY growth in PAT to INR7b (in line) in 2QFY25. PPoP grew ~23% YoY to ~INR15.9b (in line).Credit costs stood at INR6.5b (vs. MOFSLe of INR6b), translating into annualized credit costs of ~2.6% (vs.2.4% in 1QFY25 and 2.6% in 2QFY24).Write-offs stood at INR6.6b (INR4.8b in 1Q). Consol. RoA/RoE stood at 2.6%/11.7% in 2Q.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

L&T Finance - MFI Performance Better than Industry; In-Line Earnings

External broker reports(aggregated public sources), Sharekhan

Sharekhan

Sharekhan is India's leading broking house providing services from easy online trading, research to wide array of financial products. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

<ul><li>Net earnings were almost in line due to a better performance by retail segment except MFI, higher other income, lower opex and credit cost. It also kept RoA steady.</li><li>AUM growth was better than expected levels despite tightening filter for the MFI segment.</li><li>AUM growth was better than expected levels despite tightening filter for the MFI segment.</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Net earnings were almost in line due to a better performance by retail segment except MFI, higher other income, lower opex and credit cost. It also kept RoA steady.AUM growth was better than expected levels despite tightening filter for the MFI segment.AUM growth was better than expected levels despite tightening filter for the MFI segment.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

L&T Finance Holdings Ltd - Q2FY25: Net Earnings on Expected Levels...

<ul><li>Sharekhan's research report on L&amp;T Finance Holdings LTFH’s earnings were significantly below estimates, led by higher provisions/higher opex in Q4FY2024, but retail business growth was solid.</li><li>Higher provisions were on account of the wholesale business (mainly due to run down of security receipts).</li><li>The company does not expect further higher provisioning.</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Sharekhan's research report on L&amp;T Finance Holdings LTFH’s earnings were significantly below estimates, led by higher provisions/higher opex in Q4FY2024, but retail business growth was solid.Higher provisions were on account of the wholesale business (mainly due to run down of security receipts).The company does not expect further higher provisioning.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

L&T Finance Holdings Ltd - Mixed Q4, Looking at Balance Outcome

External broker reports(aggregated public sources), Emkay Global Financial Services Limited

Emkay

Emkay Global Financial Services Limited

Emkay Global Financial Services Ltd. is a leader in the financial services sector, actively creating wealth for our clients for over two decades. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

<ul><li>Apollo Global Management is in advanced talks with LTFH to acquire real estate loans worth Rs80-90bn in a deal pegged at $1bn, reported The Economic Times</li><li>The report suggests the deal is expected to be finalized in the next few weeks. </li><li>The transaction will help LTFH get upfront cash, which it could use to deleverage the balance sheet and move toward its aim of becoming a retail-focused NBFC.</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Apollo Global Management is in advanced talks with LTFH to acquire real estate loans worth Rs80-90bn in a deal pegged at $1bn, reported The Economic TimesThe report suggests the deal is expected to be finalized in the next few weeks. The transaction will help LTFH get upfront cash, which it could use to deleverage the balance sheet and move toward its aim of becoming a retail-focused NBFC.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

L&T Finance Holdings - Real Estate Asset Sale to Accelerate Retailization

India

L&T Finance is an Indian non-banking financial company providing a diverse range of financial products and services to rural and urban customers. Its portfolio includes personal loans, two-wheeler loans, home loans, rural business loans, farm loans, and SME loans, alongside bancassurance products such as life, health, and general insurance. L&T Finance is headquartered in Mumbai, Maharashtra, India, and was founded in 2008.

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L&T Finance (LTF IN)

L&T Finance - LTF’s AI-Driven Multi-Dimensional Underwriting Engine – to Hog the Limelight

L&T Finance (LTF), during its Investor Digital Day 2024 (Link) (on 25 Nov’24), provided key insights into its project Cyclops – an AI-driven, multi...

ICICI Securities Limited

L&T Finance - MFI Performance Better than Industry; In-Line Earnings

L&T Finance (LTF) reported 17% YoY growth in PAT to INR7b (in line) in 2QFY25. PPoP grew ~23% YoY to ~INR15.9b (in line).

Motilal Oswal

L&T Finance Holdings Ltd - Q2FY25: Net Earnings on Expected Levels...

Net earnings were almost in line due to a better performance by retail segment except MFI, higher other income, lower opex and credit cost. It also...

Sharekhan

L&T Finance Holdings Ltd - Mixed Q4, Looking at Balance Outcome

Sharekhan's research report on L&T Finance Holdings LTFH’s earnings were significantly below estimates, led by higher provisions/higher opex in...

Sharekhan

L&T Finance Holdings - Real Estate Asset Sale to Accelerate Retailization

Apollo Global Management is in advanced talks with LTFH to acquire real estate loans worth Rs80-90bn in a deal pegged at $1bn, reported The...

Emkay

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