L&T Finance Limited passed all four resolutions proposed through a postal ballot process that concluded on October 6, 2026. The approvals cover the appointment of two Whole-Time Directors, one Independent Director, and an amendment to the company's Memorandum of Association.

The voting results were scrutinized by Alwyn D'Souza & Co., who confirmed the requisite majority for each resolution. The e-voting period ran from September 7, 2026, to October 6, 2026, with votes cast exclusively through remote electronic means.

Resolution outcomes

Shareholders voted overwhelmingly in favor of the proposed changes. The promoter group, holding 1,65,25,30,125 shares, cast 100% of their votes in favor of all resolutions. Public institutional shareholders showed slightly higher dissent on the Whole-Time Director appointments compared to the Independent Director appointment.

What the numbers show

A distinct divergence exists between the voting patterns for executive leadership versus governance changes. While the appointment of Whole-Time Directors Sachinn Joshi and Raju Dodti faced approximately 1.75% dissent from the total votes polled, the appointment of Independent Director Prashant Kumar received near-unanimous support with only 0.03% opposition. This suggests that public shareholders, particularly institutions, were more comfortable with the independent oversight addition than with the specific executive appointments, though both categories secured overwhelming majorities well above the statutory threshold.

Voting participation details

The total number of shareholders as on the record date of August 31, 2026, stood at 7,51,686. All voting was conducted via remote e-voting; no physical polls or postal ballot forms were utilized for this process.

• Promoter and Promoter Group: Voted 1,65,25,30,125 shares in favor across all resolutions.
• Public Institutions: Participated significantly, with over 50 crore votes polled for most resolutions.
• Public Non-Institutions: Represented a smaller fraction of total votes polled, generally under 1% of outstanding shares.

L&T Finance Limited reported estimated retail disbursements of ₹24,000 crore for the quarter ended September 30, 2026. This represents a growth of approximately 27% on a year-on-year basis compared to the corresponding period in the previous fiscal year.

The company’s retail loan book stood at an estimated ₹1,34,500 crore at the end of Q2FY27, reflecting a robust expansion of roughly 29% YoY. The data indicates a significant acceleration in lending activity across key segments, particularly in urban and gold finance categories.

Segment-wise disbursement performance

The growth in disbursements was driven by strong performances in Urban Finance and Gold Finance. While Rural Business Finance and Farmer Finance remained relatively stable, other segments witnessed substantial year-on-year increases.

Urban Finance emerged as the largest contributor to the total disbursement pool, rising from ₹8,143 crore in Q2FY26 to ₹10,320 crore in Q2FY27. Gold Finance showed the most dramatic relative growth, expanding more than threefold from ₹983 crore to ₹3,230 crore during the same period.

Portfolio composition and retailisation

The retailisation ratio improved slightly to 99% in Q2FY27, up from 98% in Q2FY26. This shift underscores the company’s continued focus on granular retail assets over wholesale or corporate exposures. The overall retail loan book grew from ₹1,04,606 crore in Q2FY26 to ₹1,34,500 crore in Q2FY27.

Analyst conference call scheduled

The company announced it will hold a conference call on Friday, October 16, 2026, at 11:00 am IST to discuss its Q2FY27 financial performance and provide a strategy update. The discussion will align with presentations made available on the company’s website and stock exchanges. Pre-registration is required via the link provided in the official filing, and the transcript will be hosted at www.ltfinance.com/investors .

What the numbers show

A divergence is visible between the growth rates of specific segments. While Gold Finance drove a significant portion of the incremental volume, contributing nearly ₹2,247 crore to the year-on-year increase, traditional rural segments like Farmer Finance saw a marginal decline from ₹1,654 crore to ₹1,640 crore. This suggests that the overall 27% growth in disbursements was heavily supported by non-rural and gold-backed lending channels rather than broad-based growth across all verticals.