Shriram Finance Ltd Share Price – NSE  /  BSE

Finance, Mid Cap

Shriram Finance announced that the 45th Annual General Meeting (AGM) of the company will be held on 30 July 2024.

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Profit before tax climbed 39.43% year on year (YoY) to Rs 2,644.12 crore in the quarter ended 31 March 2024.

Net interest income increased 20.02 % to Rs 5,336.06 crore in Q4 FY24 as against Rs 4,445.89 crore recorded in Q4 FY23.

As on 31 March 2024, the total assets under management rose 21.10% to Rs 2,24,861.98 crore as compared to Rs 1,85,682.86 crore as on 31 March 2023.

Liquidity coverage ratio was at 195.55% as on 31 March 2024 as against 209.86% as of 31 March 2023. Cost to income ratio decreased to 26.68% in Q4 FY24 from 30.15% reported in Q4 FY23.

The firm's return on assets (ROA) and return on equity (ROE) stood at 3.19% and 16.37%, respectively in the quarter ended 31 March 2024.

For FY24, the company’s net profit increased 20.26% to Rs 7,190.48 crore on 17.43% rise in total income to Rs 34,997.61 crore over FY23.

Meanwhile, the board declared a final dividend of Rs 15 per share for FY24. The record date for same has been fixed as on 23 July 2024 and it will be paid between 24 July 2024 to 30 July 2024.

Furthermore, the NBFC's board has also approved resource mobilisation plan for issuance of debt securities viz. redeemable non-convertible debentures (NCDs)/subordinated debentures, bonds or any other permissible instrument on private placement basis in tranches, bonds/notes in offshore markets, external commercial borrowings and other methods of borrowing for the purpose of business of the company for the financial year 2024-2025.

Lastly, the board of directors approved acquisition of 100% stake in Shriram Overseas Investments from Shriram Investments Holdings.

Shriram Finance is India's largest retail asset financing non-banking finance company (NBFC). It 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.

The scrip rose 0.34% to end at Rs 2,502 on the BSE.

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Net profit of Shriram Finance rose 56.30% to Rs 2008.80 crore in the quarter ended March 2024 as against Rs 1285.19 crore during the previous quarter ended March 2023. Sales rose 24.33% to Rs 9904.30 crore in the quarter ended March 2024 as against Rs 7966.45 crore during the previous quarter ended March 2023.

For the full year,net profit rose 22.55% to Rs 7366.38 crore in the year ended March 2024 as against Rs 6011.04 crore during the previous year ended March 2023. Sales rose 19.37% to Rs 36379.52 crore in the year ended March 2024 as against Rs 30476.78 crore during the previous year ended March 2023.

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Shriram Finance announced that the Board of Directors of the Company at its meeting held on 26 April 2024, has recommended a Final dividend of Rs.15 per share (i.e.150%), subject to the approval of the shareholders.

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