Laxmi India Finance Ltd

Price story Before the numbers, the tape. A stock price moves through four repeating seasons: a flat base (stage 1), an advance (2), a top (3), a decline (4). Where the price sits in that cycle frames everything below.

Laxmi India Finance Ltd trades at ₹124, in a downtrend and 34 weeks into that stage. That is +5.8% against its own 200-day average. It sits at 70% of a 52-week range of ₹102 to ₹134. On relative strength it has been ahead of the NIFTY 500 on a trailing-13-week view for 4 straight weeks.

Today the stock is in a downtrend — week 34 of stage 4. At ₹124 it trades +5.8% versus its 200-day average and sits at 70% of its 52-week range (₹102–₹134).

Against the market, two honest reads. Cumulative: over the last 4 months the stock moved +3% while the NIFTY 500 moved +3% — ahead of the index over the full window. Recent form: on a trailing-13-week view the stock has been ahead for 4 straight weeks — the ribbon below is that same metric, week by week.

What would end the trend, mechanically: two Friday closes in a row below the 200-day line. That is the exit rule — no debates.

Valuation For a bank we price the book, not the earnings: P/BV is what the market pays for each ₹1 of the bank's net worth. A bank below 1× book is priced below the value of what it owns, net of what it owes.

Laxmi India Finance Ltd trades at 1.4× P/BV, mid-range by its own standards (61st percentile). Its long-run median P/BV is 1.3×, measured across 0.8 years of weekly readings. This places the multiple against the stock’s own record, and says nothing about what the business is worth.

Today's P/BV of 1.4× is mid-range by its own standards (61st percentile), against a long-run median of 1.3× measured over 0.8 years of weekly readings. This is a comparison against the stock's own history — not a claim about what it is worth.

Put together: the multiple is unremarkable against its own past, so the story rests on the book-value line underneath it, not the multiple.

What the price assumes This reading works the multiple backwards. It asks one question: what yearly rate of profit growth is a buyer at the market price already paying for? The number is the growth rate that makes eleven years of profit — six years growing, then five fading — add up to that day's market price, once each year is discounted at 11% a year.

At its price on 13 June 2026, Laxmi India Finance Ltd was priced for profit growth of about 3.3% a year. Profit itself has compounded 38.0% a year over the past 5 years. The market pays that at 1.4× P/BV, the 61st percentile of its own 1-year range.

What the two numbers say together. The multiple is unremarkable against its own past, and the growth the price is paying for is below what this company has actually delivered. Both readings sit on the same earnings, so they are one reading rather than two.

How to hold this number: it is a reading of one day's price, taken on 13 June 2026, not a running figure. A higher price is paying for more growth and a lower price for less, so it moves whenever the price does, and this page does not restate it between measurements. Every other number on this page is read off the live quote.

Stage: No read Every business sits somewhere on a fundamental arc, and this page names the spot before anything else. The last twelve quarters of revenue, profit and EPS growth — plus the return the business earns on its capital — are read as curves: Deteriorating (the curves are falling), Turning around (a trough has just formed and the last few quarters lift off it), Improving (the climb off the trough is sustained), Consistent (steadily positive with healthy returns), Topping out (still high but decelerating from the peak). When the curves genuinely disagree the read is Mixed; too little history is No read. CAGR (compound annual growth rate) is the smooth yearly pace that turns the starting value into the latest one — the fairest way to compare growth across different time spans. Read the columns together: if the 1-year number towers over the 10-year, recent growth is running hotter than the long-run trend. A dash means that window is not held, or the base year was a loss (where a growth rate is not meaningful).

Laxmi India Finance Ltd reads as no read on its fundamental arc. Under eight usable quarters on the growth trio — not enough history for an honest trajectory read. The read is built from 5 quarters across 1 curve, on partial evidence.

Why it matters: with too little history, an honest page says so instead of guessing a trajectory.

One or more growth curves carry a base-effect spike — a large year-on-year move off a near-zero or loss-making comparable quarter. Those spikes are capped before the classifier reads the trajectory, and shown pinned on the chart, so a single distorted quarter does not drive the stage call.

Return readings here are annual, not quarterly — read as level and direction only; they can confirm the growth curves but never drive the stage on their own.

Fewer than eight usable quarters on the growth curves — this page will not guess a trajectory from a stub of history.

Revenue For a bank, revenue is everything the franchise earns — interest on the loan book plus fee and other income.

Laxmi India Finance Ltd reported ₹94.0 Cr of income in the Jun 26 quarter, +34.3% year on year. That is the 5th straight quarter of year-on-year growth. Over 5 years it has compounded at 28.9% a year. The last full year, FY26, came in at ₹317 Cr. The last four reported quarters add to ₹342 Cr.

FY26 revenue came in at ₹317 Cr (+28.9% on the year), capping 5 years at 28.9% compound. The latest quarter (Jun 26) printed ₹94.0 Cr, +34.3% year on year — the 5th consecutive quarter of year-over-year growth.

Pace check: the last four quarters averaged +29.6% growth against the decade's 28.9% — the current year is running in line with its own long-run rate.

Net margin Net margin — what the bank keeps of every ₹100 of revenue after every cost, provision and tax. It is the cleanest single margin we can read for a lender.

Laxmi India Finance Ltd's net margin is 18.1% in the Jun 26 quarter, +3.8 percentage points against the same quarter a year ago. That is the widest this company has ever printed on a full-year basis. Across 6 fiscal years the net margin has ranged 11.2% to 15.8%. The current quarter is running above every full year in that window.

The latest quarter's net margin is 18.1%, +3.8 pp against the same quarter a year ago. Across 6 fiscal years the net margin has ranged 11.2%–15.8%, and FY26's 15.8% is the top of that band — a record year.

Why: the numbers show the net margin move clearly, but the cost lines behind it sit below what we hold — so we state the move without inventing its driver.

Worth repeating from the valuation section: cheap against its own history on record margins is not the same thing as cheap — a record margin flatters every ratio built on top of it.

Net profit Net profit is what survives every cost, interest and tax — the number EPS, dividends and book value all grow from.

Laxmi India Finance Ltd earned ₹17.0 Cr of net profit in the Jun 26 quarter, +70.0% year on year. It is the 3rd consecutive quarter of growth. Full-year FY26 profit was ₹50.0 Cr. The 5-year compound rate is 38.0%. That is 18.1% of the quarter's revenue. The same quarter a year earlier earned ₹10.0 Cr.

Jun 26 profit was ₹17.0 Cr, +70.0% year on year — the 3rd consecutive quarter of growth. On the full year, FY26 printed ₹50.0 Cr (+38.9%), and the 5-year compound rate is 38.0%.

Why profit moved: revenue contributed +34.3% and the margin +3.8 pp — the quarter was margin-led: most of the profit growth came from keeping more of each sale.

Pace comparison, last four quarters: profit +44.2% vs revenue +29.6%. Profit is growing faster than sales — fixed costs are being spread over a bigger base, and each extra rupee of revenue drops more to the bottom line.

Asset quality — the ladder Gross NPA is the slice of the loan book where repayments have stopped. Net NPA is what remains after the money already set aside against those loans. Falling is healing; rising is damage arriving.

Laxmi India Finance Ltd's gross NPA is 2.40% of the loan book in Dec 25, up from 0.97% a year ago. Net of provisions already set aside, 1.24% remains. Across the 5 quarters held here the book has ranged 0.97% to 2.40%. Falling NPAs are a loan book healing; rising NPAs are damage arriving.

Dec 25: gross NPA at 2.40% and net NPA at 1.24%, against 0.97% / 0.53% a year ago. Over the 5 quarters we hold, the book's worst reading was 2.40% and its best is 0.97%.

The synthesis: profit growth at a bank is only as good as the book behind it, and this book is not yet on a clear healing streak. A note on depth: quarterly provisioning detail is not in our numbers yet, so this ladder reads levels and trend, not the cost of the cleanup.

🚨 Why the ladder moved: recoveries, write-offs and slippages each play a part, and that split sits below what we hold — the numbers show the healing; the driver mix does not travel with them.

The loan book We read the loan book through revenue — when the book grows, revenue grows with it. It is a rough proxy, and we say so: rate moves and fee swings can shift it a few points in any one year.

Laxmi India Finance Ltd's revenue grew +28.9% in FY26 to ₹317 Cr, so the book is growing. The latest quarter ran +34.3% year on year. The net margin on that income is 18.1%, +3.8 percentage points against a year ago. Interest income is a proxy for the book; rate moves can shift it a few points in any one year.

FY26 revenue was ₹317 Cr, +28.9% on the year, and the latest quarter ran +34.3% year on year. The net margin on that revenue is 18.1% this quarter (+3.8 pp YoY) — growth with a widening margin on it.

The synthesis: a lender compounds when the book grows while the margin holds and the loan book stays clean — gross NPA is the loan-quality read we carry here.

Returns on equity and assets Two numbers rate a bank: ROE — what it earns on shareholder money — and ROA — what it earns on everything it deploys. ROE above ~13–15% earns its keep; below that, growth builds book slowly.

Laxmi India Finance Ltd earns a return on equity of 14% in FY26. Its trough over the ladder below was 11% in FY21. On the asset side every ₹100 of the balance sheet earned about ₹3.08, which is the return before leverage is applied.

FY26 ROE came in at 14%, recovered from a FY21 trough of 11%. On assets, the latest reading is about 3.08% — every ₹100 the bank deploys earns roughly ₹3.08 a year. That clears the bar a bank must beat for its book value to compound.

Why ROE moved: profit compounded 38.0% a year over 5 years while the equity base grew more slowly — earnings recovering faster than book value builds is what lifts ROE off a trough.

Debt

For a bank, borrowings are raw material, not a warning sign — solvency is read through the returns and the loan book. A manufacturer’s debt is a claim against its profits, so the debt-to-equity lens that works everywhere else misleads on a lender and is not applied here.

A manufacturer’s debt is a claim against its profits; a bank’s borrowings are its inventory — money taken in to be lent out. The debt lens that works everywhere else misleads here, so this page does not apply it. The solvency questions for a bank — is the loan book sound, is the equity earning — are read through the loan-book and returns sections above.

Ownership Who owns the stock, quarter by quarter: promoters (the controlling owners), foreign and domestic institutions, and the public. Steady accumulation by people close to the numbers is a signal; a quiet register is also an answer.

No holder of Laxmi India Finance Ltd moved a full percentage point over the last two years — the register is quiet. The register is read on the four disclosed classes only; nothing is inferred between filings.

The register over the last two years — .

Safety line The Z-score estimates how far a company sits from balance-sheet distress — above roughly 3 is safe, below roughly 1.8 is the danger zone. It was built for manufacturers, so it is not applied to banks and lenders.

Laxmi India Finance Ltd: the Z-score is omitted — it was built for manufacturers, not banks, and applying it here would be theatre. The Z-score was built for manufacturers and is not applied to banks and lenders, so solvency here is read from the capital and asset-quality lines instead.

The safety line in one sentence: the Z-score is omitted — it was built for manufacturers, not banks, and applying it here would be theatre.

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