Shriram Finance Limited · NSE:SHRIRAMFIN
Shriram Finance — Q3 FY2024 Earnings Presentation
49 slides from Shriram Finance's earnings presentation, Jan 25, 2024
Slide 1: Cover letter to BSE and NSE
SEC/FILING/BSE-NSE/23-24/68A-B January 25, 2024 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: SHRIRA
Slide 2: Investor Update – Q3 & 9M FY2024
Just another milestone in our growth journey Shriram Finance Limited Investor Update – Q3 & 9M FY2024 January 25, 2024
Slide 3: Performance Highlights
Performance Highlights 2
Slide 4: Performance Highlights – Q3 FY24 vs Q3 FY23
Performance Highlights – Q3 FY24 vs Q3 FY23 Q3 FY24 Rs 89,273.0 mn Total Income 17.28 % Q3 FY23 Rs 76,121.1 mn Q3 FY24 Rs 50,939.3 mn Net Interest Income** 15.04 % Q3 FY23 Rs 44,278.8 mn **including Net Direct assignment Income Rs. 731.2 Mn (Q3 FY23 Rs. 401.8 Mn) Q3 FY24 Rs 18,183.4 mn PAT 2.33 % Q3
Slide 5: Performance Highlights – 9M FY24 vs 9M FY23
Performance Highlights – 9M FY24 vs 9M FY23 9M FY24 Rs 254,997.6 mn Total Income 15.73 % 9M FY23 Rs 220,337.4 mn 9M FY24 Rs 143,507.9 mn Net Interest Income** 14.65 % 9M FY23 Rs 125,171.8 mn **including Net Direct assignment Income Rs. 2,532.2 Mn (9M FY23 1,452.6 Rs. mn) 9M FY24 Rs 52,446.2 mn PAT 1
Slide 6: Performance Highlights – Q3 FY24 vs Q3 FY23
Performance Highlights – Q3 FY24 vs Q3 FY23 Q3 FY24 Rs 2,142,334.7 mn AUM 20.70 % Q3 FY23 Rs 1,774,980.2 mn Q3 FY24 Rs 119,522.6 mn Gross Stage 3 Assets 8.08 % Q3 FY23 Rs 110,586.1 mn Q3 FY24 Rs 55,730.0 mn Net Stage 3 Assets 2.25 % Q3 FY23 Rs 54,505.5 mn Q3 FY24 Rs 1,252.8 Book Value 10.58 % Q3 FY2
Slide 7: AUM, Provision Analysis and Geographical Distribution
Assets under Management (AUM), Provision Analysis and Geographical Distribution 6
Slide 8: AUM Break-up
AUM Break-up Particulars (Rs. mn) Q3 FY24 Q2 FY24 Q1 FY24 Q3 FY23 YoY (%) QoQ (%) FY23 Loan Portfolio - On Books Balance sheet assets 1,876,421.2 1,760,067.7 1,677,638.3 1,567,662.6 19.70% 6.61% 1,620,893.0 Securitised assets 234,140.5 235,879.3 229,580.5 190,749.6 22.75% -0.74% 212,491.2 Total On b
Slide 9: Segment-wise AUM Break-up
Segment-wise AUM Break-up Product Q3 FY24 Q2 FY24 Q1 FY24 Q3 FY23 YoY (%) QoQ (%) FY23 (Rs. mn) Amt % Amt % Amt % Amt % Amt % Commercial Vehicles 1,024,651.2 47.83% 984,362.7 48.58% 959,047.4 49.64% 906,152.4 51.05% 13.08% 4.09% 932,949.2 50.24% Passenger Vehicles 415,342.1 19.39% 396,935.1 19.59% 3
Slide 10: Provision Analysis
Provision Analysis Particulars (Rs. in mn) Q3 FY24 Q2 FY24 Q1 FY24 Q3 FY23 YoY (%) QoQ (%) FY23 Gross Stage 3 119,522.6 115,563.2 115,088.8 110,586.1 8.08% 3.85% 113,821.8 ECL provision-Stage 3 63,792.6 61,361.5 60,475.4 56,080.6 13.75% 5.49% 57,073.3 Net Stage 3 55,730.0 54,201.7 54,613.5 54,505.5
Slide 11: Product wise Provision Analysis – Dec'23
Product wise Provision Analysis – Dec’23 Particulars (Rs. mn) Commercial Passenger Construction Farm Two Personal Vehicles Vehicles Equipments Equipments MSME Wheelers Gold Loans Total Gross Stage 3 61,940.6 22,013.4 10,619.1 3,182.2 11,792.8 4,046.1 1,127.8 4,800.7 119,522.6 ECL provision-Stage 3 3
Slide 12: Geographical Units and Branches
Geographical Units (GU) Urban Semi-urban Rural Total Branches GU1 Puducherry - 7 7 14 Tamil Nadu 73 200 428 701 GU1 Total 73 207 435 715 GU2 Andhra Pradesh 30 115 153 298 Odisha - 23 29 52 Telangana 46 56 101 203 GU2 Total 76 194 283 553 GU3 Bihar 16 40 38 94 Goa - - 3 3 Jharkhand 13 21 12 46 Mahara
Slide 13: Branch Offices
Geographical Units (GU) Urban Semi-urban Rural Total Branches GU4 Dadra and Nagar Haveli - - 1 1 Delhi 16 2 - 18 Gujarat 22 53 39 114 Haryana 3 41 20 64 Himachal Pradesh - 4 32 36 Jammu and Kashmir 1 3 11 15 Madhya Pradesh 21 61 107 189 Punjab 8 35 24 67 Chandigarh 3 - - 3 Rajasthan 14 53 66 133 GU4
Slide 14: Branch & AUM distribution – Q3 FY24 vs Q3 FY23
Branch & AUM distribution – Q3 FY24 vs Q3 FY23 Branch (Nos) Urban, AUM (Rs in bn) Urban, 314.5 Rural, 1,065.8 401 Rural, 1,598 Q3 FY24 Q3 FY24 Semi- Urban, Semi-Urban, 1,038 762.0 Total Branch 3,037 Total AUM Urban, Rural, Rs 2,142.3 bn 401 Urban, 269.3 Rural, 867.7 1,502 Q3 FY23 Q3 FY23 Semi- Total
Slide 15: Shriram Super App
Shriram Super App 14
Slide 16: Overview
Overview Horizontals Popular Paytech Services Product Popular journey games Service 15
Slide 17: Lists of Modules
Lists of Modules - 105 Horizontal Work in Progress Completed - in CUG Identity Access Management Credit Score Products Onboarding Collections Home Screen | Bottom Nav| Profile Settings Hamburger Investment Plans Two Wheeler Loan Voucher Four Wheeler insurance BBPS - 23 UPI Savings Plans Mini Program
Slide 18: Customer Journey
Customer Journey 1 3 5 7 Engagement Engagement Cross Sell (Pre Onboarding) Collections (Application) • Target Audience • Drop-off • Insurance (LI/GI) • Allocation assistance • HEMI • Intent/Context • Skip tracing • Credit Card • Channel • Consumer • Timing Durable • Card Protection • Content Plan •
Slide 19: ShriramOne
ShriramOne 1 2 3 Shriram One is an It manages all the needs a user could We are moving with an end goal of One stop solution have in one place such as having everything from social for all of user’s financial needs. loans, payments, investments, networking, shopping, banking services, and more. Insu
Slide 20: ShriramOne - Screens
ShriramOne - Screens Home Screen UPI Home Page BBPS Home Page My Accounts Refer a Friend 19
Slide 21: Customer Launch Overview
Customer Launch Overview 18th September 27th September Launched on Google Play Launched on iOS App store store What next? Onboarding the exisitng set of SFL Customers on ShriramOne 20
Slide 22: Shriram One App Summary
Shriram One App Summary Data: Launch till date* 1,316,937 Total Installations BBPS UPI FD Overview Overview Overview TXNs Value TXNs Value Leads Value 13,16,937 12,62,534 157K 328 Mn 1100K 673 Mn 22K 102 Mn 4,88,680 3,86,678 2,59,779 1,20,385 1,39,394 Installs Onboarded UPI Register 1st UPI Payment
Slide 23: Financial Statements
Financial Statements 22
Slide 24: P&L Statement
P&L Statement Particulars (Rs. mn) Q3 FY24 Q2 FY24 Q1 FY24 Q3 FY23 YoY (%) QoQ (%) 9M FY24 9M FY23 YoY (%) FY23 Interest income 88,438.7 84,805.1 79,566.7 75,699.1 16.83% 4.28% 252,810.5 219,230.1 15.32% 296,396.4 Interest expended 37,499.4 36,623.3 35,179.9 31,420.3 19.35% 2.39% 109,302.6 94,058.3
Slide 25: Summarised Balance Sheet
Summarised Balance Sheet Particulars (Rs. mn) Dec-23 Sep-23 Jun-23 Dec-22 YoY(%) QoQ (%) Mar-23 I. Assets Financial Assets a) Cash and bank balances 126,028.7 106,756.7 150,044.0 167,437.1 -24.73% 18.05% 158,174.1 b) Loans 1,978,955.9 1,871,727.9 1,788,461.9 1,650,433.4 19.91% 5.73% 1,719,845.8 c) I
Slide 26: Key Metrics – Q3 FY24
Key Metrics – Q3 FY24 P&L Metrics (Rs. mn) Q3 FY24 Q2 FY24 Q1 FY24 Q3 FY23 YoY (%) QoQ (%) 9M FY24 9M FY23 YoY (%) FY23 Interest Income 88,438.7 84,805.1 79,566.7 75,699.1 16.83% 4.28% 252,810.5 219,230.1 15.32% 296,396.4 Less: Interest Expenses 37,499.4 36,623.3 35,179.9 31,420.3 19.35% 2.39% 109,3
Slide 27: Key Metrics – Q3 FY24 (Contd.)
Key Metrics – Q3 FY24 (Contd.) Balance Sheet Metrics (Rs. mn) Q3 FY24 Q2 FY24 Q1 FY24 Q3 FY23 YoY (%) QoQ (%) 9M FY24 9M FY23 YoY (%) FY23 Networth 469,499.1 459,300.9 448,216.1 423,156.6 10.95% 2.22% 469,499.1 423,156.6 10.95% 432,020.7 Book Value (Rs.) 1,252.80 1,226.46 1,198.55 1,132.94 10.58% 2.
Slide 28: Borrowing Profile
Borrowing Profile 27
Slide 29: Borrowing Profile
Borrowing Profile Q3 FY24 Q2 FY24 Q3 FY23 Q4 FY23 Product Amt in bn % Amt in bn % Amt in bn % Amt in bn % Commercial Paper 24.6 1.39% 17.8 1.08% - 0.00% - 0.00% Non-Convertible Debentures 309.5 17.44% 288.5 17.45% 325.9 21.26% 302.4 19.15% Public Deposit 431.2 24.30% 408.0 24.68% 344.9 22.49% 4.6 0.
Slide 30: ALM Statement as on December 31, 2023
ALM Statement as on December 31, 2023 Over one Over 2 Over 3 Over 6 Over one Over 3 to Particulars (Rs. mn) One month month to 2 months to 3 months to months to year to 3 Over 5 years Total 5 years months months 6 months one year years Total Outflows 82,206.40 54,993.70 138,296.60 158,865.70 267,064
Slide 31: Shareholding
Shareholding 30
Slide 32: Shareholding Pattern as on December 31, 2023 vs December 31, 2022
Shareholding Pattern as on December 31, 2023 vs December 31, 2022 No. of shares outstanding: 375.6 mn No. of shares outstanding: 374.4 mn Public , Other Public, 4.91% 4.61% Promoter Other Corporat Promoters s& Corporate e Body , Body , & 0.80% Promoter Promoters s group*, 8.59% group, 25.43% MF/Bank
Slide 33: List of Key Shareholders as on December 31, 2023
List of Key Shareholders as on December 31, 2023 Key Shareholders Shareholding As % on December 31, 2023 (mn Shares) Promoter and Promoter Group 95.5 25.43 Government of Singapore 18.6 4.96 Government Pension Fund Global 8.7 2.31 Kotak Mahindra Trustee Co Ltd. (under diff sub accounts) 8.6 2.28 BNP
Slide 34: Track record has attracted institutional and private equity investors
Consistent track record and high growth potential has attracted reputed institutional and private equity investors to infuse growth capital Details of last Equity fund raising : 1. On November 25, 2021, allotted 1.736 mn equity shares of face value of Rs. 10/- each aggregating to Rs. 2.5 bn to S
Slide 35: Shriram Housing Finance Limited (SHFL)
Subsidiary For any Investor Relations Shriram Housing Finance Limited queries please contact (SHFL) 34
Slide 36: AUM Break-up (SHFL)
AUM Break-up Particulars (Rs. mn) Q3 FY24 Q2 FY24 Q1 FY24 Q3 FY23 YoY (%) QoQ (%) FY23 Loan Portfolio - On Books Balance sheet assets 87,822.7 82,761.1 73,901.7 57,518.1 52.69% 6.12% 63,636.3 Securitised assets 8,913.4 6,947.0 6,027.4 2,864.7 211.15% 28.30% 3,700.1 Total On books 96,736.1 For any 89
Slide 37: Assets under Management
Assets under Management Segment (Rs. mn) Q3FY24 Q2 FY24 Q1 FY23 Q3 FY23 YoY (%) QoQ (%) FY23 HL 66,580.3 60,515.4 54,615.6 42,520.2 56.58% 10.02% 47,487.5 LAP 43,612.8 38,428.7 32,101.6 20,412.7 113.65% 13.49% 24,153.4 MLAP 298.8 74.5 1.7 - - 301.23% - Top up 5,937.7 5,291.1 4,619.4 3,475.2 70.86% 1
Slide 38: P & L Statement
P & L Statement Particulars (Rs. mn) Q3 FY24 Q2 FY24 Q1 FY24 Q3 FY23 YoY (%) QoQ (%) 9M FY24 9M FY23 YoY (%) FY23 Interest income 2,999.5 2,734.4 2,310.6 1,802.3 66.43% 9.69% 8,044.5 4,738.0 69.79% 6,611.0 Interest expended 1,963.8 1,760.1 1,457.9 1,026.1 91.38% 11.57% 5,181.8 2,716.0 90.79% 3,922.8
Slide 39: Summarized Balance Sheet
Summarized Balance Sheet Particulars (Rs. mn) Dec-23 Sep-23 Jun-23 Dec-22 YoY(%) QoQ (%) Mar-23 I. Assets Financial Assets a) Cash and bank balances 5,607.9 4,836.2 3,387.8 1,388.8 303.78% 15.96% 4,895.4 b) Loans 95,962.8 89,008.0 79,328.1 59,812.4 60.44% 7.81% 66,813.5 c) Investments 2,532.3 2,537.
Slide 40: Provision Analysis
Provision Analysis Particulars (Rs. in mn) Q3 FY24 Q2 FY24 Q1 FY24 Q3 FY23 YoY (%) QoQ (%) FY23 Gross Stage 3 975.0 969.1 798.0 696.4 40.00% 0.61% 624.3 ECL provision-Stage 3 248.8 230.7 197.5 169.8 46.56% 7.87% 158.8 Net Stage 3 726.2 738.5 600.5 526.6 37.89% -1.66% 465.5 Gross Stage 3 (%) 1.01% 1.
Slide 41: Key Metrics
Key Metrics P&L Metrics (Rs. mn) Q3 FY24 Q2 FY24 Q1 FY24 Q3 FY23 YoY (%) QoQ (%) 9M FY24 9M FY23 YoY (%) FY23 Interest Income 2,999.5 2,734.4 2,310.6 1,802.3 66.43% 9.69% 8,044.5 4,738.0 69.79% 6,611.0 Less: Interest Expenses 1,963.8 1,760.1 1,457.9 1,026.1 91.38% 11.57% 5,181.8 2,716.0 90.79% 3,922
Slide 42: Shriram Automall India Limited (SAMIL)
Associate Shriram Automall India Limited (SAMIL) 41
Slide 43: Associate
Associate Shriram Automall India Limited (SAMIL), an ISO 9001:2015 certified company, is India's Largest Phygital 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 organized
Slide 44: Consolidated Numbers
Consolidated Numbers 43
Slide 45: Financial Performance (Consolidated)
Financial Performance (Consolidated) Particulars (Rs. mn) Q3 FY24 Q2 FY24 Q1 FY24 Q3 FY23* YoY (%) QoQ (%) 9M FY24 9M FY23 YoY (%) FY23 Interest income 92,222.0 88,087.8 82,446.1 77,563.2 18.90% 4.69% 262,755.9 224,124.2 17.24% 303,440.0 Interest expended 39,472.9 38,394.9 36,645.9 32,449.7 21.64% 2
Slide 46: Summarized Balance Sheet (Consolidated)
Summarized Balance Sheet (Consolidated) Particulars (Rs. Mn) Dec-23 Sep-23 Jun-23 Dec-22 YoY (%) QoQ (%) Mar-23 I. Assets Financial Assets a) Cash and bank balances 131,636.7 111,592.9 153,431.8 168,826.0 -22.03% 17.96% 163,069.5 b) Loans 2,074,769.9 1,960,676.9 1,867,850.4 1,710,557.8 21.29% 5.82%
Slide 47: Contact Us
Contact Us For any Investor Relations queries please contact Sanjay K. Mundra Shriram Finance Limited Email: smundra@shriramfinance.in Tel. No. +91-22-4095 9507 46
Slide 48: 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 49: Thank You
Thank You 48