1326 -34.81 -2.56%
L&T Finance, financial services arm of engineering giant Larsen & Toubro, today said it plans to raise Rs 600 crore through a series of debenture issues having different interest rates to fund business expansion.
L&T Finance , financial services arm of engineering giant Larsen & Toubro , today said it plans to raise Rs 600 crore through a series of debenture issues having different interest rates to fund business expansion.
Each non-convertible debentures (NCDs) issue would be of Rs 50 crore with an option to retain over-subscription of Rs 50 crore, aggregating to Rs 100 crore, on private placement basis, L&T Finance informed the BSE.
The interest rate on proposed NCDs varies between 8.40% and 10.24%. At the same time, interest payment schedule for six different series varies.
Meanwhile, L&T Finance has reported over 25% growth in consolidated net profit at Rs 120.7 crore for the quarter ended June 2012.
During the same quarter in the previous fiscal, the company had reported a net income of Rs 96.28 crore.
Advances grew by 37.06% to Rs 26,184.34 crore as on June 30 compared to Rs 19,103.20 crore a year ago.
During the quarter, the gross non-performing assets marginally dipped to 1.63% at Rs 416.37 crore of loan assets against 2.26% a year ago or Rs 419.55 crore (excluding micro finance).
The company made a provision of Rs 37.41 crore against non-performing loans, including Rs 14.42 crore for the Andhra micro-finance portfolio against Rs 19.93 crore year-on-year.
L&T Finance stock price
On March 10, 2014, L&T Finance Holdings closed at Rs 80.50, up Rs 2.85, or 3.67 percent. The 52-week high of the share was Rs 86.15 and the 52-week low was Rs 53.00.
The company's trailing 12-month (TTM) EPS was at Rs 1.75 per share as per the quarter ended December 2013. The stock's price-to-earnings (P/E) ratio was 46. The latest book value of the company is Rs 20.55 per share. At current value, the price-to-book value of the company is 3.92.
Set email alert for
ADS BY GOOGLE
1326 -34.81 -2.56%
video of the day
Bearish on FMCG, things improving for infra: Prashant Jain