Laxmi India Finance Limited (LAXMIINDIA)
₹108.05 +1.08% last close, 16 Oct
Latest quarterly results (Q1 FY27)
In its latest reported quarter, Q1 FY27, Laxmi India's revenue was ₹93.5 Cr (+33.6% year on year, +0.5% on the previous quarter), and net profit ₹16.6 Cr (+65.7% year on year); the operating margin was 64.7%.
| Q1 FY27 (₹ Cr) | Value | YoY vs Q1 FY26 | QoQ |
|---|---|---|---|
| Revenue | ₹93.5 | +33.6% | +0.5% |
| Operating profit | ₹60.5 | — | — |
| Net profit | ₹16.6 | +65.7% | -21.1% |
| EPS (₹) | 3.17 | +35.5% | -19.3% |
| Operating margin | 64.7% | — | — |
LAXMIINDIA delivery percentage
NSE end-of-day data for
On Fri, 16 Oct 2026, 40.43% of the LAXMIINDIA shares traded on NSE were taken to delivery, against the stock's own 20-session average of 52.03%. That is close to its usual level. Turnover was only ₹32 lakh, so a handful of trades can move this figure. Volume was 0.2 times its average, well below normal.
Delivery in the last 5 sessions: 39.9% · 44.1% · 47.1% · 54.2% · 40.4%
A description of what the exchange published, not a recommendation. Names such as "accumulation" or "long buildup" label a pattern in the numbers. How delivery is analysed
📢 Recent Corporate Announcements
Laxmi India Finance Limited submitted its compliance certificate under Regulation 74(5) of the SEBI (Depositories and Participants) Regulations, 2018 for the quarter ended September 30, 2026. The certificate was issued by Registrar and Transfer Agent MUFG Intime India Private Limited on October 03, 2026. It confirms that securities received for dematerialisation during the quarter were duly processed, confirmed to depositories, and listed on the exchanges. This is a standard quarterly procedural disclosure with no operational or financial impact.
- Compliance certificate submitted under Regulation 74(5) for the quarter ended September 30, 2026
- Certificate issued by Registrar and Transfer Agent MUFG Intime India Private Limited on October 03, 2026
- Confirmed processing of dematerialisation requests for Equity Shares and Non-Convertible Debentures
Laxmi India Finance Limited announced that shareholders approved the appointment of M/s V.M. & Associates, Company Secretaries, as Secretarial Auditors at its 29th AGM held on September 16, 2026. The appointment is for a first term of 5 consecutive years, effective from April 01, 2026, to March 31, 2031. This is a standard statutory compliance appointment under Section 204 of the Companies Act, 2013, and Regulation 24A of SEBI Listing Regulations.
- Shareholders approved the appointment at the 29th AGM held on September 16, 2026
- Appointed M/s V.M. & Associates for a 5-year term from April 01, 2026, to March 31, 2031
- Firm holds Peer Review Certificate No. 5447/2024 and FRN P1984RJ039200
- Appointment conducted pursuant to Section 204 of Companies Act and Regulation 24A of SEBI LODR
Laxmi India Finance Limited concluded its 29th Annual General Meeting held on September 16, 2026. All four resolutions were passed unanimously with 100% of votes cast in favour, representing 3,35,10,596 votes (63.96% voter turnout across 5,23,93,078 total shares). Key resolutions approved include the adoption of FY26 financial statements, the reappointment of director Mrs. Aneesha Baid, the appointment of M/s V.M. & Associates as secretarial auditors, and a special resolution approving the limit for issuing Non-Convertible Debentures (NCDs) via private placement.
- All resolutions passed unanimously with 100.0000% of votes cast in favour
- Overall voter participation reached 63.9600% (3,35,10,596 votes polled out of 5,23,93,078 total shares)
- Promoter group cast 3,12,67,376 votes representing a 99.1876% turnout of their holdings
- Special resolution approved authorizing the limit for NCD issuance via private placement
- AGM was attended by 65 shareholders (9 promoter group, 56 public) via video conferencing
Laxmi India Finance Limited concluded its 29th Annual General Meeting on September 16, 2026. The Chairman recapped performance for FY25-26, highlighting a 27.35% growth in AUM to ₹1,626.26 crore and a 38% increase in Profit After Tax to ₹49.68 crore. Key agenda items transacted included the adoption of FY26 financial statements, reappointment of Mrs. Aneesha Baid as Director, and approval for limits to issue Non-Convertible Debentures (NCDs) via private placement. Scrutinizer voting results are expected within two working days.
- AGM transacted four resolutions, including approval for private placement of NCDs.
- Chairman recapped FY26 AUM growth of 27.35% to ₹1,626.26 crore and disbursements of ₹821 crore.
- Reported FY26 PAT grew 38% to ₹49.68 crore, with total income at ₹319.6 crore.
- FY26 asset quality maintained with Gross Stage-3 assets at 2.13% and Capital Adequacy Ratio at 26.12%.
Laxmi India Finance Limited has approved the allotment of 1,00,000 secured, rated, listed Non-Convertible Debentures (NCDs) aggregating to ₹100 crore on a private placement basis. The issuance comprises Series A (₹70 crore) and Series B (₹30 crore), each carrying a face value of ₹10,000. The NCDs carry a coupon of 10.50% per annum payable monthly and have a tenure of 36 months, maturing on September 02, 2029. The proceeds will provide liquidity to support the NBFC's ongoing lending operations.
- Total debt raised: ₹100 crore across Series A (₹70 crore) and Series B (₹30 crore)
- Coupon rate: 10.50% per annum, payable monthly
- Tenure: 36 months, with final redemption date set for September 02, 2029
- Face value: ₹10,000 per debenture, secured by a first and exclusive charge on identified receivables
- Listing: Proposed to be listed on the Wholesale Debt market segment of BSE Limited
Laxmi India Finance Limited has submitted the transcript of its Investor/Analyst meet held on August 20, 2026. Management highlighted its secured lending portfolio, with MSME and SME loans comprising 80-82% of total assets at a conservative loan-to-value (LTV) ratio of 45-50%. The company operates 196 branches across six states and plans to add approximately 30-35 branches in FY27. Management also guided for a target Return on Total Assets (ROTA) of ~4.0% (up from current ~3.45%) and expects borrowing costs to decrease by 22-25 bps from 10.66% as new bank lenders like ICICI Bank are onboarded.
- Operates 196 branches across 6 states with plans to open 30-35 additional branches in FY27
- MSME and SME loan segments constitute ~80-82% of total lending book at 45-50% LTV
- Targeting ~4.0% ROTA vs current level of ~3.45% through lower borrowing and operating costs
- Cost of borrowing stood at 10.66%, with an expected 22-25 bps reduction supported by 50+ lenders including ICICI Bank
Laxmi India Finance's Business Operation Committee has approved the issuance of up to 1,00,000 rated, listed, secured Non-Convertible Debentures (NCDs) with a face value of ₹10,000 each, aggregating up to ₹100 crore. The issuance includes a green shoe option of up to 20,000 NCDs worth ₹20 crore on a private placement basis. The NCDs will be secured by a first and exclusive charge on identified receivables and listed on the Wholesale Debt Market segment of BSE. This updates an earlier structure communicated on August 20, 2026.
- Approved issuance of up to 1,00,000 rated, secured NCDs aggregating up to ₹100 crore
- Includes a green shoe option of up to 20,000 NCDs aggregating ₹20 crore
- NCDs have a face value of ₹10,000 each and will be listed on BSE Wholesale Debt Market
- Secured by a first and exclusive charge on identified loan receivables
- Meeting concluded on August 25, 2026 at 7:45 PM IST
Laxmi India Finance Limited has issued letters to shareholders and debenture holders whose email addresses are not registered with the company or RTA. The communication provides web links and QR codes to access the Annual Report for FY 2025-26 along with the Notice of the 29th Annual General Meeting. This disclosure is a procedural compliance requirement under SEBI Listing Regulations 36(1)(b) and 58(1)(b).
- Issued communication under Regulation 36(1)(b) and 58(1)(b) of SEBI Listing Regulations
- Provides access links for the FY 2025-26 Annual Report and 29th AGM Notice
- Sent specifically to unregistered email holders among shareholders and debenture holders
- Registrar and Share Transfer Agent identified as MUFG Intime India Private Limited
Laxmi India Finance Limited has issued the notice for its 29th Annual General Meeting scheduled for September 16, 2026, via Video Conferencing. Alongside, the company published its Annual Report for FY2025-26. The disclosures highlight branch network expansion to 176 branches across 6 states as of March 31, 2026, alongside an increase in employee headcount to 1,805. Additionally, Acuité Ratings upgraded its long-term credit ratings to 'ACUITE A/Stable' across various bank loans and NCD facilities.
- 29th Annual General Meeting scheduled for September 16, 2026, at 04:30 PM IST via VC/OAVM
- Branch network expanded to 176 branches across 6 states as of March 31, 2026 (Rajasthan: 92, MP: 40, Gujarat: 23, UP: 15, Chhattisgarh: 5, Maharashtra: 1)
- Headcount increased to 1,805 employees as of March 31, 2026, compared to 1,434 as of March 31, 2025
- Acuité Ratings upgraded ratings to 'ACUITE A/Stable' from 'ACUITE A-/Positive' on Rs 1,126.86 Cr and Rs 450 Cr bank loans and Rs 40 Cr NCDs
Laxmi India Finance Limited has announced a meeting of its Business Operation Committee scheduled for August 25, 2026, to consider raising funds via private placement of Non-Convertible Debentures (NCDs). The proposed issue comprises 50,000 secured, rated NCDs of face value ₹10,000 each, amounting to a base size of ₹50 crore with a green shoe option of up to ₹50 crore, totaling up to ₹100 crore. In line with insider trading regulations, the trading window for designated persons is closed from August 20, 2026, until 48 hours post-meeting conclusion.
- Meeting of Business Operation Committee scheduled for August 25, 2026
- Base issue size of ₹50 crore with a green shoe option of ₹50 crore, totaling up to ₹100 crore
- Proposed issuance of 50,000 secured, rated, redeemable NCDs at a face value of ₹10,000 each
- Trading window closed from August 20, 2026, until 48 hours after the August 25, 2026 committee meeting
Laxmi India Finance Limited has disclosed the audio recording link of its Investors/Analysts meeting held on August 20, 2026. The meeting took place under the GIA BFSI/Fintech Day forum. The filing complies with Regulations 30 and 46 of the SEBI LODR Regulations, 2015, making the discussion publicly accessible on the company's website.
- Investors/Analysts meeting conducted on August 20, 2026 (GIA BFSI Fintech Day)
- Audio recording uploaded to company website in compliance with SEBI LODR Regulations 30 and 46
- Filing follows the prior intimation letter dated August 17, 2026
Laxmi India Finance Limited has informed the exchanges that it will participate in the GIA BFSI/Fintech Analyst Meet on Thursday, August 20, 2026. The meeting will be conducted virtually in a group format from 2:00 P.M. to 3:00 P.M. The company confirmed that only publicly available information will be discussed and no unpublished price-sensitive information (UPSI) will be shared.
- Virtual analyst/investor group meeting scheduled for Thursday, August 20, 2026.
- Session timing scheduled between 2:00 P.M. and 3:00 P.M.
- Interaction to take place under the 'GIA BFSI/ Fintech Analyst Meet' event.
- No unpublished price sensitive information (UPSI) will be disclosed per the company.
Laxmi India Finance reported robust Q1 FY27 performance with PAT surging 70% YoY to ₹16.4 crore, driven by a 39% rise in Net Interest Income to ₹47.1 crore and a 93 bps expansion in NIM to 11.36%. Total AUM expanded 28% YoY to ₹1,721.7 crore, supported by quarterly disbursements of ₹232 crore (+40% YoY). Asset quality showed GNPA at 2.08% and NNPA at 0.93%, while credit costs increased to 0.95% (vs 0.58% YoY) due to vehicle financing. Management maintained its annual guidance of 30-35% AUM growth and 40-45% PAT growth.
- Q1 FY27 PAT rose 70% YoY to ₹16.4 crore, with Net Interest Income up 39% to ₹47.1 crore
- AUM grew 28% YoY to ₹1,721.7 crore, led by core MSME AUM of ₹1,395 crore
- Disbursements increased 40% YoY to ₹232 crore across a network of 194 branches in 6 states
- NIM expanded to 11.36% from 10.43% YoY, aided by a 67 bps decline in average borrowing cost to 10.66%
- GNPA improved sequentially to 2.08% and NNPA to 0.93%, while credit cost rose to 0.95% (₹3.69 crore)
Laxmi India Finance has published the audio recording of its earnings call held on August 13, 2026, for the quarter ended June 30, 2026. The company is currently executing an aggressive expansion strategy, aiming for a 35-40% growth rate by adding 29 new branches in FY26. Management is focusing on shifting the portfolio from heavy commercial vehicles (now 9.9% exposure) to LCVs and private vehicles to mitigate sector-specific risks. With a high Capital Adequacy Ratio of 31.90% and GNPA at 1.59%, the call provides insights into how the company plans to maintain its 22.18% yield.
- Earnings call conducted on August 13, 2026, for the Q1 FY27 reporting period
- Company targeting a 35-40% growth rate through the addition of 29 new branches in FY26
- Maintains a robust Capital Adequacy Ratio of 31.90% following its IPO
- Gross NPA remains disciplined at 1.59% as of the latest reporting cycle
- Strategic shift has reduced heavy commercial vehicle exposure to 9.9% of the portfolio
Laxmi India Finance's Q1 FY27 presentation confirms a stable promoter stake of 60.17% and a diversified lender base of 47 institutions, including 9 PSUs and 10 private banks. The company is executing its strategy to add 29 new branches in FY26 to its existing 164-branch network, targeting a 35-40% growth rate. Financial stability is supported by a high Capital Adequacy Ratio of 31.90% and a disciplined GNPA of 1.59%. The shift toward LCV and MSME loans, with an average ticket size of Rs 7-8 lakhs, remains the core focus for risk mitigation.
- Promoter and Promoter Group maintain a majority stake of 60.17% as of June 30, 2026
- Diversified borrowing profile with 47 lenders, including 10 private banks and 7 small finance banks
- Operational footprint includes 164 branches, with a target to add 29 more in FY26
- Capital Adequacy Ratio remains strong at 31.90% following the company's IPO
- Institutional interest is present with Alternative Investment Funds (AIFs) holding a 5.32% stake
Financial Performance
Revenue Growth by Segment
AUM grew 24.75% YoY to INR 1,386.49 Cr. MSME segment remains the primary driver, targeted to represent 80-85% of the portfolio, while Vehicle Loans contribute approximately 15%. Adjusted PAT (excluding non-recurring IPO expenses of INR 2.66 Cr) grew 42% YoY to INR 21.72 Cr.
Geographic Revenue Split
The company operates 164 branches across 5 states. Expansion into Uttar Pradesh is showing positive results with 6 branches currently operational and no bouncing in collections reported.
Profitability Margins
Yield improved by 50 bps YoY to 22.18%. Spread increased by 133 bps YoY to 10.88%. Return on Assets (ROA) stood at 2.56% (Adjusted: 2.74%) and Return on Equity (ROE) at 11% (Adjusted: 11.77%).
EBITDA Margin
Not standard for NBFC; however, the company maintains a healthy spread of 10.88% and a low credit cost of 0.72% of AUM. Opex cost stood at 7.17% on an AUM basis due to upfront branch expansion costs.
Capital Expenditure
Capital expenditure for branch setup ranges from INR 1.5 lakhs to INR 2.5 lakhs per branch depending on the tier (Tier 1: 500-600 sq ft, Tier 2: 300-400 sq ft, Tier 3: 250-400 sq ft).
Credit Rating & Borrowing
Credit rating has improved to the 'A' category. Cost of borrowing reduced by 63 bps YoY to 11.10%.
Operational Drivers
Raw Materials
Debt Capital/Bank Borrowings (primary input for lending operations)
Key Suppliers
Bank of Baroda, South Indian Bank, Karur Vysya Bank (newly onboarded lenders), along with existing PSU banks, private banks, and small finance banks.
Capacity Expansion
Current network of 164 branches. Planned addition of 29 branches in FY26 (6 already added in H1). Planning to enter one additional state by the end of the financial year.
Raw Material Costs
Borrowing cost is 11.10% of total debt. The company aims to further reduce this by onboarding more PSU banks and leveraging its improved 'A' credit rating.
Manufacturing Efficiency
Branch-level breakeven is achieved in 7-8 months with an AUM of approximately INR 1.5 Cr. Full breakeven (including HO costs) is achieved within 1.5 years.
Strategic Growth
Expected Growth Rate
35-40%
Growth Strategy
Growth will be achieved through aggressive branch expansion (29 new branches planned), entering new states, and maintaining a 30-35% historical CAGR. The company is shifting focus from high-risk heavy commercial vehicles to LCVs, private vehicles, and multi-rooted vehicles while keeping MSME as the core product (80-85% mix).
Products & Services
MSME Loans (average ticket size INR 7-8 lakhs), Used Vehicle Loans (LCV, private, and multi-rooted vehicles).
Brand Portfolio
Laxmi India Finance Limited
New Products/Services
Focusing on multi-rooted and private vehicle loans as a shift from heavy commercial vehicles.
Market Expansion
Expanding footprint in Uttar Pradesh and planning entry into one more state by FY26 end.
Strategic Alliances
Lending partnerships with Bank of Baroda, South Indian Bank, and Karur Vysya Bank.
External Factors
Industry Trends
The NBFC sector is seeing a slowdown in heavy commercial vehicles but growth in rural MSME and LCV segments. Laxmi India is positioning itself in rural/semi-rural areas to capture this growth.
Competitive Landscape
Peers include HDFC and Five Star Business Finance (mentioned in context of ticket size and security).
Competitive Moat
Moat built on deep rural/semi-rural presence and disciplined underwriting (GNPA 1.59%). Sustainability is supported by a high Capital Adequacy Ratio of 31.90% post-IPO.
Macro Economic Sensitivity
Highly sensitive to rural economy and agriculture production. GST regime changes have boosted the purchasing capacity of small customers.
Consumer Behavior
Improved repayment behavior noted due to enhanced liquidity and positive sentiments following the festival season.
Regulatory & Governance
Industry Regulations
Compliant with SEBI (LODR) Regulations 2015 and SEBI (Depositories and Participants) Regulations 2018.
Legal Contingencies
No specific pending court cases or values disclosed; company confirms no dematerialization requests were pending for the quarter ended December 31, 2025.
Risk Analysis
Key Uncertainties
Slowdown in the heavy commercial vehicle sector (HCV) poses a risk to the 9.9% CV portfolio, potentially impacting NPAs if not managed.
Geographic Concentration Risk
Operations spread across 5 states; specific % revenue per state not disclosed, but Rajasthan and UP are key areas.
Third Party Dependencies
Dependency on MUFG Intime India Private Limited as Registrar and Transfer Agent.
Technology Obsolescence Risk
Mitigated by a clear strategy for technology-led innovation and digitization.
Credit & Counterparty Risk
Stage 2 assets stand at INR 66.59 Cr (5.22% of assets). GNPA is stable at 1.59% with a PCR of 47.22%.
