Shriram Finance Ltd

Shriram Finance Ltd

₹ 2,450 0.49%
01 Mar - close price
About

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]

Key Points

About[1]
Shriram Finance Limited is the flagship company of the Shriram group which has significant presence in Consumer Finance, Life Insurance, General Insurance, Housing Finance, Stock Broking and Distribution businesses. It is India’s largest retail asset financing NBFC. Established in 1979, Shriram Finance is holistic finance provider catering to the needs of Small Road Transport Operators and small business owners and is a leader in organised financing of pre-owned commercial vehicles and two wheelers.

  • Market Cap 92,066 Cr.
  • Current Price 2,450
  • High / Low 2,535 / 1,202
  • Stock P/E 13.9
  • Book Value 1,233
  • Dividend Yield 1.43 %
  • ROCE 12.1 %
  • ROE 17.3 %
  • Face Value 10.0

Pros

  • Company has delivered good profit growth of 19.5% CAGR over last 5 years
  • Company has been maintaining a healthy dividend payout of 20.0%

Cons

  • Company has low interest coverage ratio.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Sector: Finance Industry: Finance & Investments

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023
Revenue 4,438 4,494 4,648 4,698 4,828 5,082 7,133 7,583 7,795 7,966 8,291 8,884 9,301
Interest 2,236 2,288 2,498 2,435 2,397 2,404 3,026 3,305 3,241 3,361 3,633 3,798 3,893
1,181 1,240 1,886 1,194 1,477 1,299 2,233 2,108 2,082 2,341 2,227 2,549 2,748
Financing Profit 1,021 967 264 1,069 953 1,379 1,875 2,170 2,473 2,265 2,431 2,536 2,659
Financing Margin % 23% 22% 6% 23% 20% 27% 26% 29% 32% 28% 29% 29% 29%
5 4 4 5 4 6 5 11 3 13 5 9 5
Depreciation 37 32 33 33 35 35 56 57 61 427 135 141 152
Profit before tax 989 938 235 1,041 923 1,351 1,823 2,124 2,415 1,851 2,301 2,404 2,513
Tax % 26% 20% 28% 26% 26% 20% 26% 26% 25% 31% 26% 26% 25%
734 757 170 774 686 1,091 1,352 1,579 1,802 1,288 1,712 1,792 1,874
EPS in Rs 26.00 26.80 6.36 28.80 25.36 40.34 49.93 58.26 48.04 34.32 45.49 47.59 49.69
Gross NPA %
Net NPA %
Raw PDF

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 TTM
Revenue 6,173 7,009 8,476 9,177 10,359 10,903 13,502 15,536 16,561 17,422 19,255 30,492 34,442
Interest 2,560 3,092 4,233 4,706 5,088 5,219 6,409 7,564 8,313 9,089 9,773 12,987 14,686
1,644 1,738 2,244 2,781 3,447 3,712 3,288 4,171 4,683 4,932 5,816 8,706 9,865
Financing Profit 1,969 2,179 1,999 1,691 1,824 1,972 3,805 3,801 3,565 3,402 3,666 8,799 9,891
Financing Margin % 32% 31% 24% 18% 18% 18% 28% 24% 22% 20% 19% 29% 29%
6 7 4 2 3 1 127 20 14 14 18 16 33
Depreciation 17 23 33 43 38 35 37 43 141 137 135 601 856
Profit before tax 1,958 2,163 1,970 1,650 1,789 1,938 3,896 3,778 3,439 3,278 3,549 8,214 9,068
Tax % 33% 32% 31% 38% 34% 35% 35% 32% 27% 24% 24% 27%
1,309 1,463 1,358 1,028 1,184 1,266 2,549 2,576 2,512 2,499 2,721 6,020 6,666
EPS in Rs 51.85 57.84 53.65 40.63 46.76 50.01 100.71 101.77 99.26 88.52 100.59 160.54 177.09
Dividend Payout % 11% 11% 12% 22% 19% 7% 10% 11% 5% 18% 20% 22%
Compounded Sales Growth
10 Years: 16%
5 Years: 18%
3 Years: 23%
TTM: 25%
Compounded Profit Growth
10 Years: 15%
5 Years: 19%
3 Years: 34%
TTM: 14%
Stock Price CAGR
10 Years: 16%
5 Years: 17%
3 Years: 22%
1 Year: 101%
Return on Equity
10 Years: 15%
5 Years: 15%
3 Years: 14%
Last Year: 17%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Sep 2023
Equity Capital 226 227 227 227 227 227 227 227 227 253 271 374 375
Reserves 5,806 7,111 8,283 9,039 9,949 11,105 13,463 15,736 17,915 21,464 25,824 43,138 45,931
24,137 33,386 38,630 46,695 49,790 53,080 82,131 87,914 94,735 106,546 114,846 164,804 174,438
6,869 6,550 5,192 6,193 8,048 10,034 1,539 1,542 1,389 1,647 1,328 2,256 2,616
Total Liabilities 37,038 47,274 52,332 62,154 68,013 74,446 97,360 105,419 114,266 129,910 142,268 210,573 223,361
54 72 155 154 152 136 122 147 489 437 418 3,714 3,753
CWIP 0 0 0 0 0 0 0 0 0 0 0 66 0
Investments 3,666 3,280 2,435 3,037 1,340 1,518 2,456 4,126 2,936 3,347 6,971 7,430 7,917
33,318 43,922 49,742 58,962 66,522 72,791 94,782 101,146 110,841 126,126 134,879 199,363 211,692
Total Assets 37,038 47,274 52,332 62,154 68,013 74,446 97,360 105,419 114,266 129,910 142,268 210,573 223,361

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
-1,687 -8,359 -4,055 -9,611 -5,507 -2,677 -13,142 -5,535 -2,464 -4,239 -8,859 -17,625
-28 -41 -112 -45 -36 -2 86 -76 -55 -25 -34 -193
3,766 9,060 5,010 7,836 2,822 3,017 13,014 5,550 4,579 12,226 8,505 11,820
Net Cash Flow 2,051 661 843 -1,819 -2,721 338 -42 -62 2,060 7,962 -388 -5,999

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
ROE % 24% 22% 17% 12% 12% 12% 20% 17% 15% 13% 11% 17%

Shareholding Pattern

Numbers in percentages

9 Recently
Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023
26.48% 25.10% 25.58% 26.06% 26.45% 29.30% 29.37% 25.29% 25.51% 25.48% 25.45% 25.43%
61.01% 57.47% 53.67% 53.15% 53.88% 49.97% 50.65% 45.55% 49.78% 55.36% 54.67% 53.97%
6.87% 11.71% 14.82% 15.20% 13.99% 15.22% 14.53% 11.13% 11.74% 14.66% 15.17% 15.77%
5.64% 5.72% 5.93% 5.59% 5.68% 5.51% 5.47% 18.04% 12.96% 4.49% 4.71% 4.83%
No. of Shareholders 78,34891,15697,97697,8991,00,92693,37992,2541,00,20399,21292,22796,8731,07,254

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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