Shriram Finance Limited · NSE:SHRIRAMFIN
Shriram Finance — Q1 FY24 Earnings Presentation
40 slides from Shriram Finance's earnings presentation, Jul 27, 2023
Slide 1: Exchange filing cover letter
SEC/FILING/BSE-NSE/23-24/68A-B July 27, 2023 BSE Limited National Stock Exchange of India Limited P. J. Towers, Listing Department Dalal Street, Fort, Exchange Plaza, 5th Floor, Mumbai – 400 001. Plot no. C/1, G- Block, Scrip Code: 511218 Bandra-Kurla Complex, Mumbai – 400 051. NSE Symbol: SHRIRAMFI
Slide 2: Q1 FY24 Investor Update
On a journey to become the most preferred Financial Services destination Q1 FY24 Investor Update July 27, 2023
Slide 3: Performance Highlights
Performance Highlights 2
Slide 4: Performance Highlights – Q1 FY24 vs Q1 FY23
Performance Highlights – Q1 FY24 vs Q1 FY23* Q1 FY24 Rs 80,046.0 mn Total Income 14.30 % Q1 FY23 Rs 70,032.8 mn Q1 FY24 Rs 44,352.7 mn Net Interest Income** 11.31 % Q1 FY23 Rs 39,844.4 mn ) ** including Net Direct assignment Income Rs. 757.7 Mn (Q1 FY23 Rs. 539. Mn) Q1 FY24 Rs 16,754.4 mn PAT 25.13
Slide 5: Performance Highlights – Q1 FY24 vs Q1 FY23
Performance Highlights – Q1 FY24 vs Q1 FY23* Q1 FY24 Rs 1,932,146.6 mn AUM 18.56 % Q1 FY23 Rs 1,629,700.4 mn Q1 FY24 Rs 115,088.8 mn Gross Stage 3 Assets 13.59 % Q1 FY23 Rs 101,315.5 mn Q1 FY24 Rs 54,613.5 mn Net Stage 3 Assets 4.90 % Q1 FY23 Rs 52,060.1 mn Q1 FY24 Rs 1,198.55 Book Value 14.97 % Q1
Slide 6: Assets under Management, Provision Analysis and Geographical Distribution
Assets under Management (AUM), Provision Analysis and Geographical Distribution 5
Slide 7: AUM Break-up
AUM Break-up Particulars (Rs. mn ) Q1 FY24 Q4 FY23 Q1 FY23 YoY (%) QoQ (%) Loan Portfolio - On Books Balance sheet assets 1,677,638.2 1,620,893.0 1,409,852.8 18.99% 3.50% Securitised assets 229,580.6 212,491.2 205,850.8 11.53% 8.04% Total On books 1,907,218.8 1,833,384.2 1,615,703.6 18.04% 4.03% - O
Slide 8: Segment-wise AUM Break-up
Segment-wise AUM Break-up Product Q1 FY24 Q4 FY23 Q1 FY23 YoY (%) QoQ (%) (Rs. mn) Amt % Amt % Amt % Commercial Vehicles 959,047.4 49.64% 932,949.2 50.24% 850,944.7 52.21% 12.70% 2.80% Passenger Vehicles 362,919.7 18.78% 338,726.4 18.24% 282,495.7 17.33% 28.47% 7.14% Construction Equipments 146,261.
Slide 9: Provision Analysis
Provision Analysis Particulars (Rs. in mn) Q1 FY24 Q4 FY23 Q1 FY23* YoY (%) QoQ (%) Gross Stage 3 115,088.8 113,821.8 101,315.5 13.59% 1.11% ECL provision-Stage 3 60,475.4 57,073.2 49,255.4 22.78% 5.96% Net Stage 3 54,613.5 56,748.6 52,060.1 4.90% -3.76% Gross Stage 3 (%) 6.03% 6.21% 6.27% -3.77% -2
Slide 10: Product wise Provision Analysis – Jun'23
Product wise Provision Analysis – Jun’23 Particulars (Rs. mn) Commercial Passenger Construction Farm MSME Two Gold Personal Total Vehicles Vehicles Equipments Equipments Wheelers Loans Gross Stage 3 60,518.0 19,811.4 10,299.9 3,200.7 11,628.8 3,892.7 1,300.3 4,437.0 115,088.8 ECL provision-Stage 3 3
Slide 11: Branch & AUM distribution – Q1 FY24 vs Q1 FY23
Branch & AUM distribution – Q1 FY24 vs Q1 FY23 Branch (Nos) Urban, Rural, AUM (Rs in bn) Urban, Rural, 394 1,526 287.88 955.25 Q1 FY24 Q1 FY24 Semi- Total AUM Urban, Rs 1,932.15 bn Semi-Urban, 1,010 689.02 Total Branch 2,930 Urban, Urban, Rural, Rural, 248.42 790.49 377 1,455 Q1 FY23 Q1 FY23 Semi- T
Slide 12: Geographical Units (GU) Branches
Geographical Units (GU) Urban Semi-urban Rural Total Branches GU1 Puducherry - 7 7 14 Tamil Nadu 73 196 386 655 GU1 Total 73 203 393 669 GU2 Andhra Pradesh 30 114 153 297 Odisha - 23 28 51 Telangana 46 54 101 201 GU2 Total 76 191 282 549 GU3 Bihar 16 40 39 95 Goa - - 3 3 Jharkhand 13 21 12 46 Mahara
Slide 13: Well-entrenched Pan India Network
Well-entrenched Pan India Network Geographical Units (GU) Urban Semi-urban Rural Total Branches GU5 Total Assam - 11 16 27 Chhattisgarh 5 17 50 72 Karnataka 24 63 129 216 Kerala 4 20 85 109 Manipur - 1 - 1 Meghalaya - 1 - 1 Sikkim - 1 2 3 Tripura - 2 2 4 West Bengal 14 24 22 60 GU5 Total 47 140 306
Slide 14: Financial Statements
Financial Statements 13
Slide 15: P&L Statement
P&L Statement Particulars (Rs. mn) Q1 FY24 Q4 FY23 Q1 FY23* YoY (%) QoQ (%) FY23 Interest income 79,532.6 77,166.3 69,694.2 14.12% 3.07% 296,396.4 Interest expended 35,179.9 32,707.4 29,849.8 17.86% 7.56% 126,765.7 Net interest income 44,352.7 44,458.9 39,844.4 11.31% -0.24% 169,630.7 Other Operatin
Slide 16: Summarised Balance Sheet
Summarised Balance Sheet Particulars (Rs. mn) Jun-23 Mar-23 Jun-22* YoY(%) QoQ (%) I. Assets Financial Assets a) Cash and bank balances 150,044.0 158,174.1 257,083.6 -41.64% -5.14% b) Loans 1,788,461.9 1,719,845.8 1,519,010.6 17.74% 3.99% c) Investments 83,339.3 85,650.6 97,430.9 -14.46% -2.70% d) O
Slide 17: Key Metrics – Q1 FY24
Key Metrics – Q1 FY24 P&L Metrics (Rs. mn) Q1 FY24 Q4 FY23 Q1 FY23* YoY (%) QoQ (%) FY23 Interest Income 79,532.6 77,166.3 69,694.2 14.12% 3.07% 296,396.4 Less: Interest Expenses 35,179.9 32,707.4 29,849.8 17.86% 7.56% 126,765.7 Net Interest Income 44,352.7 44,458.9 39,844.4 11.31% -0.24% 169,630.7
Slide 18: Key Metrics – Q1 FY24 (Contd.)
Key Metrics – Q1 FY24 (Contd.) Balance Sheet Metrics (Rs. mn) Q1 FY24 Q4 FY23 Q1 FY23* YoY (%) QoQ (%) FY23 Networth 448,216.1 432,020.7 389,878.7 14.96% 3.75% 432,020.7 Book Value (Rs.) 1,198.55 1,156.61 1,042.52 14.97% 3.63% 1,156.61 Interest Coverage (x) 2.27 2.37 2.35 -3.40% -4.22% 2.35 ROA (%)
Slide 19: Borrowing Profile
Borrowing Profile 18
Slide 20: Borrowing Profile
Borrowing Profile Q1 FY24 Q4 FY23 Q1 FY23 Product Amt in bn % Amt in bn % Amt in bn % Commercial Paper 10.62 0.66% - - - - Non-Convertible Debentures 287.19 17.73% 302.45 19.15% 293.17 19.22% Public Deposit 386.54 23.87% 361.40 22.89% 306.59 20.10% Securitisation 241.83 14.93% 221.06 14.00% 209.02 1
Slide 21: ALM Statement as on June 30, 2023
ALM Statement as on June 30, 2023 Over one Over 2 Over 3 Over 6 Over one One Over 3 to Over 5 Particulars (Rs. mn) month to 2 months to 3 months to 6 months to year to 3 Total month 5 years years months months months one year years Total Outflows 101,634.7 62,614.3 61,277.3 118,477.4 316,440.2 648,2
Slide 22: Shareholding
Shareholding 21
Slide 23: Shareholding Pattern as on June 30, 2023 vs June 30, 2022
Shareholding Pattern as on June 30, 2023 vs June 30, 2022** No. of shares outstanding: 374.84 mn No. of shares outstanding: 270.52 mn Public, 4.32% Public, 5.36% Other Corporate Other Corporate Body , 0.25% Promoters & Body , 0.27% Promoters & Promoters Promoters group*, group*, 25.48% * 29.30% * Q1
Slide 24: List of Key Shareholders as on June 30, 2023
List of Key Shareholders as on June 30, 2023 Key Shareholders Shareholding As % on June 30, 2023 (Mn Shares) Promoter and Promoter Group 95.52 25.48 Life Insurance Corporation Of India 12.90 3.44 Government of Singapore 12.28 3.28 Government Pension Fund Global 8.38 2.24 HDFC Mutual Fund (HDFC Mid-C
Slide 25: Last four fund raising
Consistent track record and high growth potential has attracted reputed institutional and private equity investors to infuse growth capital Last Four fund raising : 1. On March 29, 2023, the Company issued and allotted USD 0.15 bn Senior Secured Floating Rate Notes due 2026 (“Notes”) for a sum o
Slide 26: Shriram Housing Finance Limited (SHFL)
Subsidiary For any Investor Relations Shriram Housing Finance Limited queries please contact (SHFL) 25
Slide 27: AUM Break-up
AUM Break-up Particulars (Rs. mn) Q1 FY24 Q4 FY23 Q1 FY23 YoY (%) QoQ (%) Loan Portfolio - On Books Balance sheet assets 73,901.7 63,636.3 47,649.6 55.09% 16.13% Securitised assets For any 6,027.4 3,700.1Investor 1,898.4 Relations 217.50% 62.90% Total On books 79,929.1queries 67,336.4 please 49,548.
Slide 28: Assets under Management
Assets under Management Segment (Rs. mn) Q1 FY24 Q4 FY23 Q1 FY23 YoY (%) QoQ (%) HL 54,615.6 47,487.5 34,720.0 57.30% 15.01% LAP 32,103.3 24,153.4 16,533.7 94.17% 32.91% Top up 4,619.4 4,082.9 2,910.8 58.70% 13.14% CF 3,238.3 3,856.5 3,552.8 -8.85% -16.03% CL 815.4 885.7 309.0 163.90% -7.93% Total A
Slide 29: P & L Statement
P & L Statement Particulars (Rs. mn) Q1 FY24 Q4 FY23 Q1 FY23 YoY (%) QoQ (%) FY23 Interest income 2,310.6 1,873.1 1,349.6 71.21% 23.36% 6,611.0 Interest expended 1,457.9 1,206.8 744.8 95.73% 20.81% 3,922.8 Net interest income 852.7 666.3 604.7 41.00% 27.98% 2,688.2 Other Operating Income 645.3 354.4
Slide 30: Summarized Balance Sheet
Summarized Balance Sheet Particulars (Rs. mn) Jun-23 Mar-23 Jun-22 YoY (%) QoQ (%) I. Assets Financial Assets a) Cash and bank balances 3,387.8 4,895.4 2,807.5 20.67% -30.80% b) Loans 79,328.1 66,813.5 48,994.0 61.91% 18.73% c) Investments 4,258.5 2,568.8 2,033.7 109.39% 65.77% d) Other-financial as
Slide 31: Provision Analysis
Provision Analysis Particulars (Rs. in mn) Q1 FY24 Q4 FY23 Q1 FY23 YoY (%) QoQ (%) Gross Stage 3 798.0 624.3 771.8 3.40% 27.82% ECL provision-Stage 3 197.5 158.8 181.5 8.82% 24.38% Net Stage 3 600.5 465.5 590.3 1.73% 29.00% Gross Stage 3 (%) 1.00% 0.93% 1.56% -35.90% 7.68% Net Stage 3 (%) 0.75% 0.69
Slide 32: Key Metrics
Key Metrics P&L Metrics (Rs. mn) Q1 FY24 Q4 FY23 Q1 FY23 YoY (%) QoQ (%) FY23 Interest Income 2,310.6 1,873.1 1,349.6 71.21% 23.36% 6,611.0 Less: Interest Expenses 1,457.9 1,206.8 744.8 95.73% 20.81% 3,922.8 Net Interest Income 852.7 666.3 604.7 41.00% 27.98% 2,688.2 Other Operating Income & Other I
Slide 33: Shriram Automall Limited (SAMIL)
ASSOCIATE For any Investor Relations Shriram Auotmall Limited queries please contact (SAMIL) 32
Slide 34: Associate
Associate Shriram Automall India Limited (SAMIL), an ISO 9001:2015 certified company, is India's Largest Phy-gital Pre-owned Marketplace connecting pre-owned vehicles and equipment buyers and sellers. SAMIL began its journey in 2011 by setting up India's first professionally managed and organize
Slide 35: Consolidated Numbers
Consolidated Numbers 34
Slide 36: Financial Performance (Consolidated)
Financial Performance (Consolidated) Particulars (Rs. mn) Q1 FY24 Q4 FY23 Q1 FY23* YoY (%) QoQ (%) FY23 Interest income 82,412.0 79,265.1 71,041.6 16.01% 3.97% 303,439.6 Interest expended 36,645.9 33,928.8 30,597.4 19.77% 8.01% 130,714.9 Net interest income 45,766.1 45,336.3 40,444.2 13.16% 0.95% 17
Slide 37: Summarized Balance Sheet (Consolidated)
Summarized Balance Sheet (Consolidated) Particulars (Rs. mn) Jun-23 Mar-23 Jun-22* YoY (%) QoQ (%) I. Assets Financial Assets a) Cash and bank balances 153,431.8 163,069.5 259,891.1 -40.96% -5.91% b) Loans 1,867,850.4 1,786,851.4 1,568,676.1 19.07% 4.53% c) Investments 73,688.7 74,300.7 85,474.1 -13
Slide 38: Contact Us
Contact Us For any Investor Relations queries please contact Sanjay K. Mundra Shriram Finance Ltd Email: smundra@shriramfinance.in Tel. No. +91-22-4095 9507 37
Slide 39: About Us
About Us About Shriram Finance Ltd. 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. Shriram Finance Limited is one of India’s larges
Slide 40: Thank You
Thank You 39