Shriram Finance Ltd
Shriram Finance Ltd
Financial Services F&OKey Fundamentals
LargecapNBFCFinancial ServicesInsights
BetaAI-extracted from concalls & annual reports · figures as reported, with sources
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37 extracted metrics + investor summaries across FY15–FY26.
Tapetide Score
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Technical Indicators
Key Insights
Strengths
2- Company has delivered good profit growth of 32.0% CAGR over last 5 years
- Company has been maintaining a healthy dividend payout of 20.9%
Weaknesses
3- Stock is trading at 3.18 times its book value
- Company has low interest coverage ratio.
- Promoter holding has decreased over last quarter: -5.08%
Growth Rate
AI Analysis — Bull vs Bear
Shriram Finance Ltd is a large-cap NBFC with a market cap of ~₹2.58 lakh crore, trading at a P/E of 22.5x and P/B of 2.41x. The company delivered 32% profit CAGR over 5 years and 17% AUM growth in FY25 to ₹2.63 lakh crore, though Q4 FY25 profit growth moderated to 10% YoY with credit costs rising to 2.4% of AUM.
- Strong 5-year profit CAGR of 32%, significantly outpacing revenue CAGR of 23% over the same period, indicating improving operating leverage
- AUM grew 17% YoY to ₹2,63,190 crore in Q4 FY25 with disbursements of ~₹448 billion (+14% YoY), showing sustained business momentum
- Consistent ROE of 16% maintained across 3-year, 5-year, and 10-year periods, reflecting stable capital efficiency
- Gross NPA improved to 4.55% in Q4 FY25 from 5.38% in Q3 FY25 and 5.45% in Q4 FY24, showing a clear declining trend in asset quality stress
- Stock has delivered 1-year price CAGR of 78% and 3-year CAGR of 45%, reflecting strong market confidence in the business model
- Secured international credit rating of Ba1 (stable outlook) from Moody's in March 2025, potentially lowering future borrowing costs
- TTM profit growth of 33% continues to outpace TTM revenue growth of 14%, suggesting margin expansion and operating efficiency gains
- Healthy dividend payout ratio of 20.9% with current yield of ~1%, providing income alongside capital appreciation
- Stock trades at 3.2x book value versus historical average, implying elevated valuation expectations that leave limited room for disappointment
- Q4 FY25 credit costs surged 18% QoQ to 2.4% of AUM, raising concerns about underlying asset quality deterioration in the vehicle finance portfolio
- Promoter holding decreased by 5.08% in the last quarter, which may signal reduced insider confidence or stake dilution
- Low interest coverage ratio indicates vulnerability to rising interest rate environments and potential margin compression
- Q4 FY25 net profit growth decelerated sharply to just 10% YoY (₹2,139 crore) versus the 5-year CAGR of 32%, suggesting earnings momentum may be peaking
- Net NPA remains elevated at 2.64% in Q4 FY25, and provision coverage ratio at ~52% is relatively modest for an NBFC of this scale
- Capital adequacy ratio declined from 22.61% to 20.30% in FY24, indicating capital consumption is outpacing internal accrual at current growth rates
- Management guided conservatively for only 15% AUM growth in FY25, a deceleration from the 21% achieved in FY24
This is AI-generated analysis, not financial advice. Do your own due diligence.
AI News Digest
- Reduced rainfall slows vehicle growth Jul 27
Management cited reduced rainfall as key factor behind slower vehicle financing demand, reflecting monsoon-dependent rural economic activity.
- Q1FY27 profit surges 59.8% YoY Jul 24
Net profit rose 59.79% YoY to ₹3,444.56 crore driven by 33.67% NII growth to ₹8,055.70 crore. AUM grew 15.26% to ₹3,13,798 crore.
- ₹2,000 crore raised via NCDs Jul 9
Allotted NCDs worth ₹2,000 crore on Jul 9 at coupon rates of 7.80% and 8% p.a., strengthening the liability side.
- Final dividend of ₹6 per share Jul 21
Paid final dividend of ₹6/share for FY26 on Jul 21 to shareholders on record as of Jul 3. Declared at 47th AGM on Jul 10.
- Debt fundraise plan Aug-Oct 2026 Jul 24
Committee meetings scheduled Aug 1 to Oct 31 to consider issuing redeemable NCDs and bonds on private placement basis.
- Investor meets scheduled Aug 12-13 Aug 7
Senior management to host group meetings with investors at Equirus India Growth Summit in Mumbai on Aug 12 and Aug 13.
- Q1 earnings call audio posted Jul 25
Audio recording of Q1 FY27 earnings call held Jul 24 uploaded to website; transcript to follow.
- Institutional block trades on NSE Jul 23
Multiple block trades recorded between Jul 14-24 totalling ~₹134 crore across ~13.16 lakh shares at prices ranging from ₹1,015.70 to ₹1,073.00 per share.
- Q1 results conference call held Jul 15
Conference call held Jul 24 at 19:00 IST with key management including VC Umesh Revankar and MD Parag Sharma to discuss Q1 FY27 results.
TL;DR: Shriram Finance delivered a strong Q1FY27 with 59.8% profit growth and healthy AUM expansion of 15.26%, supported by robust NII gains. The company is actively raising debt capital via NCDs and rewarding shareholders with dividends. The key risk is monsoon-dependent rural demand softness that could weigh on vehicle financing volumes. If rainfall normalizes, the growth trajectory looks well-supported by strong fundamentals and capital access.
Quarterly Results
| Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 8,003 | 8,555 | 8,922 | 9,484 | 9,605 | 10,090 | 10,698 | 11,454 | 11,536 | 11,912 | 12,171 | 12,513 | 13,400 |
| Expenses | 2,141 | 2,454 | 2,634 | 2,712 | 2,661 | 2,836 | 3,033 | 3,293 | 3,062 | 3,109 | 3,397 | 3,104 | 3,406 |
| Financing Profit | 2,374 | 2,480 | 2,581 | 2,783 | 2,815 | 2,903 | 2,914 | 2,937 | 3,073 | 3,279 | 3,514 | 4,073 | 4,790 |
| Fin. Margin % | 30% | 29% | 29% | 29% | 29% | 29% | 27% | 26% | 27% | 28% | 29% | 33% | 36% |
| Other Income | 41 | 47 | 59 | 87 | 54 | 86 | 1,574 | 6 | 6 | 9 | 26 | 18 | 18 |
| Interest | 3,488 | 3,622 | 3,707 | 3,988 | 4,129 | 4,350 | 4,751 | 5,224 | 5,401 | 5,525 | 5,259 | 5,336 | 5,204 |
| Depreciation | 132 | 137 | 147 | 153 | 153 | 159 | 162 | 171 | 173 | 174 | 177 | 175 | 183 |
| PBT | 2,283 | 2,391 | 2,494 | 2,717 | 2,715 | 2,830 | 4,326 | 2,772 | 2,906 | 3,113 | 3,363 | 3,917 | 4,626 |
| Tax % | 25% | 25% | 25% | 26% | 25% | 24% | 25% | 23% | 26% | 26% | 25% | 23% | 25% |
| Net Profit | 1,712 | 1,792 | 1,874 | 2,021 | 2,031 | 2,153 | 3,249 | 2,144 | 2,159 | 2,314 | 2,530 | 3,021 | 3,453 |
| EPS in Rs | 9.1 | 9.52 | 9.94 | 10.69 | 10.76 | 11.39 | 17.27 | 11.4 | 11.48 | 12.3 | 13.45 | 16.06 | 14.67 |
Profit & Loss
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 9,177 | 10,359 | 10,903 | 13,502 | 15,536 | 16,561 | 17,422 | 19,255 | 30,492 | 36,388 | 43,941 | 48,135 | 49,997 |
| Expenses | 2,781 | 3,447 | 3,712 | 3,288 | 4,171 | 4,683 | 4,932 | 5,816 | 8,706 | 10,278 | 12,279 | 12,602 | 13,016 |
| Financing Profit | 1,691 | 1,824 | 1,972 | 3,805 | 3,801 | 3,565 | 3,402 | 3,666 | 8,799 | 10,523 | 13,132 | 13,947 | 15,656 |
| Fin. Margin % | 18% | 18% | 18% | 28% | 24% | 22% | 20% | 19% | 29% | 29% | 30% | 29% | 31% |
| Other Income | 2 | 3 | 1 | 127 | 20 | 14 | 14 | 18 | 16 | 25 | 157 | 52 | 71 |
| Interest | 4,706 | 5,088 | 5,219 | 6,409 | 7,564 | 8,313 | 9,089 | 9,773 | 12,987 | 15,588 | 18,529 | 21,586 | 21,325 |
| Depreciation | 43 | 38 | 35 | 37 | 43 | 141 | 137 | 135 | 601 | 588 | 645 | 699 | 709 |
| PBT | 1,650 | 1,789 | 1,938 | 3,896 | 3,778 | 3,439 | 3,278 | 3,549 | 8,214 | 9,960 | 12,644 | 13,300 | 15,019 |
| Tax % | 38% | 34% | 35% | 35% | 32% | 27% | 24% | 24% | 27% | 26% | 24% | 25% | — |
| Net Profit | 1,028 | 1,184 | 1,266 | 2,549 | 2,576 | 2,512 | 2,499 | 2,721 | 6,020 | 7,399 | 9,576 | 10,024 | 11,318 |
| EPS in Rs | 8.13 | 9.35 | 10 | 20.14 | 20.36 | 19.86 | 17.71 | 20.12 | 32.11 | 39.2 | 50.81 | 53.28 | 56.48 |
| Div. Payout % | 22% | 19% | 7% | 10% | 11% | 5% | 18% | 20% | 22% | 23% | 19% | 20% | — |
Balance Sheet
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 227 | 227 | 227 | 227 | 227 | 227 | 253 | 271 | 374 | 376 | 376 | 376 |
| Reserves | 9,039 | 9,949 | 11,105 | 13,463 | 15,736 | 17,915 | 21,464 | 25,824 | 43,138 | 48,571 | 56,094 | 65,542 |
| Borrowing | 46,695 | 49,790 | 53,080 | 82,131 | 87,914 | 94,735 | 1,06,546 | 1,14,846 | 1,64,202 | 1,95,496 | 2,34,197 | 2,50,692 |
| Other Liabilities | 6,193 | 8,048 | 10,034 | 1,539 | 1,542 | 1,389 | 1,647 | 1,328 | 2,858 | 3,823 | 3,330 | 4,764 |
| Total Liabilities | 62,154 | 68,013 | 74,446 | 97,360 | 1,05,419 | 1,14,266 | 1,29,910 | 1,42,268 | 2,10,573 | 2,48,266 | 2,93,998 | 3,21,375 |
| Fixed Assets | 154 | 152 | 136 | 122 | 147 | 489 | 437 | 418 | 3,714 | 3,718 | 2,914 | 2,635 |
| CWIP | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 66 | 0 | 0 | 0 |
| Investments | 3,037 | 1,340 | 1,518 | 2,456 | 4,126 | 2,936 | 3,347 | 6,971 | 7,430 | 9,472 | 15,788 | 14,993 |
| Other Assets | 58,962 | 66,522 | 72,791 | 94,782 | 1,01,146 | 1,10,841 | 1,26,126 | 1,34,879 | 1,99,363 | 2,35,076 | 2,75,296 | 3,03,746 |
| Total Assets | 62,154 | 68,013 | 74,446 | 97,360 | 1,05,419 | 1,14,266 | 1,29,910 | 1,42,268 | 2,10,573 | 2,48,266 | 2,93,998 | 3,21,375 |
Cash Flow
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating | -9,611 | -5,507 | -2,677 | -13,142 | -5,535 | -2,464 | -4,239 | -8,859 | -17,625 | -31,101 | -43,652 | -13,281 |
| Investing | -45 | -36 | -2 | 86 | -76 | -55 | -25 | -34 | 5,076 | -258 | 3,630 | -241 |
| Financing | 7,836 | 2,822 | 3,017 | 13,014 | 5,550 | 4,579 | 12,226 | 8,505 | 11,820 | 27,609 | 44,521 | 8,587 |
| Net Cash Flow | -1,819 | -2,721 | 338 | -42 | -62 | 2,060 | 7,962 | -388 | -730 | -3,750 | 4,499 | -4,936 |
| Free Cash Flow | -9,655 | -5,543 | -2,695 | -13,208 | -5,611 | -2,519 | -4,264 | -8,893 | -17,818 | -31,361 | -43,903 | -13,475 |
| CFO/OP | -141 | -72 | -28 | -120 | -37 | -12 | -24 | -57 | -66 | -106 | -126 | -26 |
Ratios
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE % | 12% | 12% | 12% | 20% | 17% | 15% | 13% | 11% | 17% | 16% | 16% | 16% |
Documents
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Company Information
Business Overview Shriram Transport Finance Company Ltd is a part of the SHRIRAM Group conglomerate which has a significant presence in the financing business. STFC is engaged in the business of commercial vehicle financing mainly focusing on trucks from preowned to new ones. It's a Deposit-taking NBFC comprising 1,758 branches, 831 rural centers, and partnerships with ~500 private financiers. [1]