L&T Finance Limited (LTF) is a subsidiary of Larsen and Toubro.

It was incorporated as a Non Banking Finance Company in November 1994. Through LTF, L&T aims at making a strong foray in the ever-expanding financial services sector. As a business philosophy, we fund income generating assets/activities while maintaining a clear focus on returns. LTF offers a spectrum of financial products and services for trade, industry and agriculture. The company's focus segments are corporate products, construction equipment, CVs and tractors. Despite the turbulence in the financial services markets over the past few years, L&T Finance has adapted well to the changing market dynamics to remain consistently profitable. Like the rest of the companies in L&T group, LTF is also professionally managed. LTF shares the professional values and ethos of its parent company, and has acquired and maintained a reputation for reliability, transparency of operations and absolute integrity. A steady growth rate validates the trust that industry has reposed in the company. CAPITAL STRUCTURE SHARE CAPITAL Authorised Capital 20,00,00,000 Equity shares of Rs.10/- each Issued, Subscribed and Paid-up Capital 19,29,41,500 Equity shares of Rs.10/- each AMOUNT (in Rs)

200,00,00,000/-

192,94,15,000/

PRODUCTS OF L&T FINANCE CORPORATE FINANCE As a budding corporate, gunning for success, you cannot let lack of financing for your equipment hold you back and so L&T Finance, supports as the corporates grow from strength to strength and scale the ladder of success. L&T Finance brings you portfolio of Corporate Finance products that are tailor made to suit customers requirements. Under Corporate Financing we offer:
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Term Loans Leases

RURAL FINANCE L&T Finance's Rural product finance division caters to the finance needs of the rurl customers and helps them to realize their dreams. L&T Finance offers Rural Financing in 17 states with 72 branches and a dedicated field force. The success of L&T Finance in this segment comes from its approachability, simpler documentation, transparency in processing, better understanding of customers business and product knowledge. Under Rural Financing it offers:
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Farm Equipment Financing Tractor Dealer Financing Utility Vehicle Financing Mortgage Based Agriculture Financing

ISSUE PRICE AND PROFIT OF L&T FINANCE The share price of L&T Finance Holdings Ltd, the financial services arm of the Larsen and Toubro Group, closed at Rs 50.05 on the National Stock Exchange, 3.75 per cent below its listing price of Rs 52 per share. L&T Finance had raised Rs 1,245 crore through it maiden public offering late last month, with another Rs 330 crore coming through a pre-IPO placement with Capital Internationals private equity arm. At this price, Capital International is sitting on a notional loss of 8-9 per cent on its pre-IPO investment, which was done at Rs 55 per share. Investors like DSP BlackRock and Malaysias Khazanah had also picked up a stake in the company during anchor investor allotment. The share price of the firm remained resilient throughout the day, hitting an intra-day high of Rs 53.85 and a low of Rs 49.3. The NSE closed at 5,072.95 points on Friday, down 1.27 per cent. L&T Finances listing comes at a time when markets have lost 4-5 per cent since the issue was closed with fears of a double-dip recession as S&P downgraded the USA borrowings and debt worries in the European Union plagued the world economy. For FY11, L&T Finance Holdings reported 48 per cent increase in the total income to Rs 2,115 crore while the net profit rose 49.2 per cent to Rs 392.5 crore. It had a total income of Rs 1,423 crore and a net profit of Rs 263 crore in FY10. The company has grown at a very healthy rate, beating the industry growth rates over the past few years, and it is poised to do well going forward. The company has a well-established infrastructure finance business and its financial product distribution business is also growing at a rapid pace. The strong promoter background also helps in raising funds at competitive rates, SMC said in a pre-listing note on the company.

COMPETITORS FOR L&T FINANCE Last Price Rel Capital L&T Finance Bajaj Holdings Bajaj Finserv Muthoot Finance Religare Enterp Responsive Ind Tata Inv Corp Future Ventures JM Financial POLICIES Finance, Accounts and Administration Department administers the Finance & accounts related policies of the Company at all project sites through Regional Offices. Besides this, the Department manages the working capital for the Division through effective funds management, monitoring of receivables and vendor financing. It also ensures compliance of statutory requirements and internal controls at Regional Offices and project sites. The department also consolidates and presents the audited accounts of the Division as applicable under the relevant Acts. Budgeting process and preparation of periodic MIS reports for Corporate Management, issue of policy guidelines related to Finance and Accounts, as and when applicable are the other key activities of the department. Specialist functions include insurance and taxation management for the Division. 384.20 49.80 749.95 537.00 179.15 415.40 110.95 458.60 8.90 18.00 Market Cap. (Rs. cr.) 9,457.47 8,539.35 8,346.46 7,769.50 6,659.23 5,800.95 2,902.95 2,526.67 1,402.86 1,349.61 Sales Turnover 1,808.81 1,074.56 119.81 126.71 724.50 245.95 13.12 44.12 Net Profit 229.27 1,000.09 188.34 4.99 47.21 198.59 -0.67 10.04

LABOUR L&T is a team of more than 29000 L&T-ites spread across multiple locations across the globe, having proven track record and professional skills, woven together with a common culture of trust & caring. L&T offers its people freedom at work, unmatched leadership & the opportunity to grow at a rapid pace. It provides them challenging, interesting & motivating assignments which brings a sense of professional fulfillment. The company encourages entrepreneurial skills thus, enabling and empowering employees to

take appropriate risks. Employee participation is encouraged by inviting suggestions & opinions. This is coupled with competitive compensation & rewards and training through Core Development & Behaviour Development Programmes, to enable them to unleash their full potential.

L&T CUSTOMERS

A REPORT ON L&T FINANCE LTD