- L&T Finance surged over 130% in 2025, becoming a multibagger since 2011 listing
- Stock hit all-time high of Rs 329 in Jan 2026 but fell 10% amid broad market selloff
- FY26 profit hit a record Rs 3,003 crore, with Q4 PAT up 27% to Rs 807 crore
L&T Finance is a curious case in the non-banking financial corporation (NBFC) sector. Last year, the company pulled off something it had not managed in over a decade - turning into a multibagger for its shareholders for the first time since its listing in 2011.
Indeed, the NBFC stock surged more than 130% during the calendar year 2025 while delivering the 'Lakhsya 2026' retail transformation roadmap ahead of schedule.
The stock hit an all-time high of Rs 329 on Jan. 6, 2026 but since then, momentum has cooled off.
So far in 2026, L&T Finance has shed around 10% from its all-time high, even as stock returns in the past 12 months hover around the impressive 69% mark. As of April 24, 2026, the stock closed at Rs 289.55, with a market capitalisation of around Rs 62,000 crore.
The recent dip comes in the midst of a broad-based selloff in Indian markets, especially in the midst of an uncertain global scenario and the war in the Middle East.
That said, the recent Q4FY26 numbers do offer reasons for optimism, with the company notably posting highest-ever annual profit of Rs 3,003 crore for FY26, accounting for a 14% year-on-year increase, whereas Q4 PAT jumped 27% to Rs 807 crore.
Retail disbursements grew 39% to Rs 83,213 crore, with personal loans doubling. Asset quality also improved, with Gross Stage 3 assets falling to 2.88% from 3.29% a year ago. ROE rose to 11.33% and ROA to 2.39%.
Should You Buy, Sell Or Hold?
Despite the run-up in the last 12 months or so, brokerages remain bullish, with 17 out of 23 analysts covering the stock having a 'buy' call on the counter, as per data from Bloomberg.
However, the average target price for L&T Finance stands at Rs 302, which implies an upside potential of just 3% from current levels. This effectively means the stock needs a key positive trigger for a re-rating.
Among analysts covering the stock, Anand Rathi remains the most bullish, with a target price of Rs 375. Elara Capital and Ashika also remain equally bullish, assigning a target price of Rs 370 and Rs 350, respectively.
On the flip side, IIFL has a grim outlook on L&T Finance, with a 'reduce' rating and a target price of Rs 215. Kotak Securities has a 'sell' call as well, with a target price of Rs 250.
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