The theme of the report is:
‘Accelerating in the direction of Lakshya – Retail, Digital and Sustainable’
Report covers the important thing indicators of enterprise sustainability efficiency like:
Monetary and Mental Capital
Manufactured, Social and Relationship Capital
Human and Pure Capital
L&T Finance Holdings Ltd. (LTFH), a number one non-banking monetary firm, has launched its first Built-in Annual Report (IAR) with the theme ‘Accelerating in the direction of Lakshya – Retail, Digital and Sustainable’. The theme describes the journey of LTFH in the direction of creating an organisation which is retail, digital in nature and sustainable. The Firm’s strategic plan Lakshya is targeted on delivering strong enterprise efficiency together with contributing within the Environmental, Social and Governance (ESG) areas, thereby creating worth for all its stakeholders.
Cowl web page of the primary Built-in Annual Report of L&T Finance Holdings Ltd.
The IAR is a pure development for the Firm because it makes sustainability a robust driver within the Firm’s technique and progress story. The report is a crucial a part of the dialogue with stakeholders, and showcases the Firm’s dedication to transparency, sustainability, and long-term worth creation. The report highlights the Firm’s path of turning into a top-class, digitally-enabled, retail finance firm shifting from a ‘product-focused’ to a ‘customer-focused’ method, whereas concurrently concentrating on the strategic objectives of Lakshya 2026 which had been unveiled in 2022. To take care of consistency in method, the Firm’s IAR and Enterprise Accountability and Sustainability Reporting (BRSR) have been assured by an Impartial Third-Celebration Assurance supplier and can present stakeholders with a complete view of its efficiency, strategic goals, environmental impression, company governance, and social initiatives undertaken.
Mr. Dinanath Dubhashi, Managing Director & CEO, L&T Finance Holdings Ltd. stated, “I’m delighted to current our first Built-in Annual Report, which delves into the Firm’s efficiency and worth creation mannequin for our stakeholders. The report displays our dedication of rising as a number one digitally-enabled, retail finance firm the place the technique rests on the pillars of sustained revenue and progress engine, demonstrable power in danger administration, creating Fintech@Scale and integrating sustainable future progress by ESG in enterprise operations. The report additionally supplies an summary into the exterior surroundings and the way LTFH intends to satisfy its quick to long-term objectives. By embracing built-in reporting, the Firm goals to foster belief, improve stakeholder engagement, and drive sustainable progress.”
From the environmental perspective, LTFH has created a constructive impression by measures resembling optimum useful resource utilisation, power effectivity, and water conservation. Consistent with its decarbonisation technique, in FY23, the company head workplace operated on one hundred pc inexperienced energy. Moreover, 6 branches had been switched to inexperienced energy resulting in an roughly 30 % discount in carbon footprint. In FY23, LTFH just isn’t solely water-neutral, however has turned water-positive by replenishing 111x (occasions) of water consumed in its operations. Below the mission ‘Prakruti’, LTFH planted over 50,000 saplings including to its current carbon sinks.
In FY23, LTFH has taken important strides in the direction of attaining the Lakshya 2026 objectives. FY23 was a 12 months of sturdy efficiency for the Firm owing to a centered retail enterprise technique, strengthened digital prowess, demonstrable danger administration practices and an enhanced ESG plan. LTFH not solely made daring sustainability / ESG commitments to create a sustainable organisation, and it additionally carried out considerably effectively towards the 22 sustainability targets set for FY23.
Going ahead, LTFH will proceed its journey of retailisation and develop at a minimal of 25 % Compound Annual Development Price. Contemplating these elements, the IAR is a pure development for LTFH because it makes sustainability a robust driver of technique and progress story. It has additionally adopted 23 sustainability / ESG targets for FY24.
LTFH invitations all stakeholders, to review the report and acquire better insights of the Firm’s sustainable enterprise practices. The IAR is on the market for obtain on the Firm’s web site.
About L&T Finance Holdings (LTFH)
L&T Finance Holdings Restricted (LTFH) (www.ltfs.com), a number one Non-Banking Monetary Firm (NBFC), gives a spread of monetary services and products by its subsidiary L&T Finance Ltd. (LTF) underneath the L&T Finance model. Headquartered in Mumbai, the corporate has been rated AAA – the best credit standing for NBFCs – by 4 main score businesses. It has additionally obtained management scores and scores by international and nationwide Environmental, Social and Governance (ESG) score suppliers for its sustainability efficiency. The corporate has additionally received many prestigious awards for its flagship CSR mission – “Digital Sakhi” which is targeted on girls empowerment and digital and monetary inclusion. Below Proper to Win, being within the ‘proper companies’ has helped the corporate turn out to be one of many main financiers in key retail merchandise. The corporate is targeted on making a top-class, digitally-enabled retail finance firm as a part of the Lakshya 2026 plan. The aim is to maneuver the emphasis from product focus to buyer focus and set up a strong retail portfolio with high quality property, thus making a Fintech@Scale whereas preserving ESG on the core. Fintech@Scale is likely one of the pillars of the corporate’s strategic roadmap – Lakshya 2026. The corporate has over 2.1 crore buyer database, and this database is being leveraged to cross-sell, up-sell in addition to establish new clients.