Shriram Finance Limited · NSE:SHRIRAMFIN
Shriram Finance — Q1 FY26 Earnings Presentation
64 slides from Shriram Finance's earnings presentation, Jul 25, 2025
Slide 1: Investor Presentation - Q1 FY26
Investor Presentation - Q1 FY26 July 25, 2025
Slide 2: Agenda
Company Overview 3 Business Model/Competitive Strengths 8 11 Market Dynamics & Growth Strategy 16 Organizational Structure 24 Shriram Super App 25 Performance Track Record 35 Recent Performance – Q1 FY’26 2 #TogetherWeSoar
Slide 3: Company Overview
COMPANY OVERVIEW 3 #TogetherWeSoar
Slide 4: Company Snapshot
Company Snapshot Leading player in organized high yield pre-owned CV financing segment and Two-wheeler segment. Diversified Portfolio – PCV’s, Construction Equipment, Tractor Financing, Personal loans, Gold Loans, MSME Finance 9.71 million customers Large network of 3,225 Branch offices and 580 rura
Slide 5: Corporate History
Corporate History Securitised Rs. 87.57 Tied up with bn during FY 2010. Citicorp for CV Merger of Shriram financing under Investment Ltd. and Successfully raised Rs. Portfolio Shriram Overseas 5.84 bn through QIP Management Finance Ltd. with with domestic & Services (PMS) STFC; PAT crosses i
Slide 6: Corporate History (Contd.)
Corporate History (Contd.) Successfully raised Rs. 13.5 Raised Rs. 14.92 bn through right Bn through issuance of ‘Masala Bonds’ – Senior Raised maximum permissible issue in August 2020 US$ 750 million through ECB Raised Rs. 36.69 bn and Rs. 16.53 Secured Rupee Denominated Bonds’ listed route
Slide 7: Corporate History (Contd.)
Corporate History (Contd.) Shriram City Union Finance Limited and Shriram Capital Limited merged with Shriram Transport Finance Company Limited and was renamed as Shriram Finance Limited (SFL). The Company is a leader in organised financing of pre-owned commercial vehicles and two-wheelers. It h
Slide 8: Business Model / Competitive Strengths
BUSINESS MODEL / COMPETITIVE STRENGTHS 8 #TogetherWeSoar
Slide 9: Strategic Presence In High Yield Used CV Segment
Strategic Presence In High Yield Used CV Segment CV Financing Business Model Pre-Owned New Age of Truck 1 2 3 4 5 6 7 8 9 10 11 12 Lending Rates 14-16% 16-24% 12-16% Small truck owners (less than 5 trucks) with underdeveloped Existing customer base upgrading to new trucks Target Segment banking
Slide 10: Valuation Expertise & Relationship Based Model
Valuation Expertise & Relationship Based Model Knowledge Driven Valuation Model Critical Success Factor Vehicle Assessment Loan Amount Valuation EMI Old CVs 60-70% LTV Ratio Repayment Ability New CVs 75-80% LTV Ratio SFL has right mix of scale and skill Awareness of load structure / business mix Rel
Slide 11: Market Dynamics & Growth Strategy
MARKET DYNAMICS & GROWTH STRATEGY 11 #TogetherWeSoar
Slide 12: Strong Industry Potential – Commercial Vehicles
Strong Industry Potential – Commercial Vehicles Market Potential (Rs. bn) Trucks (mn) Market for second hand truck financing is under penetrated with 4,957 30% 55-60% of the market with private financiers / money lenders who charge high interest rates 34% Stringent traffic regulations in major c
Slide 13: Strong Industry Potential – Other Portfolio Segments
Strong Industry Potential – Other Portfolio Segments Construction Two Wheelers Passenger Vehicles Tractor Financing Automall Equipment (Only New) Market Size Rs. 1,500 billion NA Rs. 1,250 billion Rs. 6,400 billion Rs. 1,961 billion (FY26) PM Gati Shakti with Access to ready Key Driver Personal Mobi
Slide 14: Transportation Model – Multiple Financing Opportunities
Transportation Model – Multiple Financing Opportunities Hub and Spoke Transportation Model Long Haul Medium Haul Short Haul Last Mile >800 kms 350-800 kms 50-350 kms <50 kms Load re-distributed from few large hubs in major regions of the country to large number of touch points in the hinterland CV L
Slide 15: Growth Strategy
Growth Strategy Strengthening presence Introduction of top-up and expanding reach products like finance for Target AUM (Rs. bn) tyres, working capital and Increase penetration into engine replacement rural and urban centers Economies of scale - Increase penetration of incremental cost of n
Slide 16: Organizational Structure, Management Team & Board of Directors
ORGANIZATIONAL STRUCTURE, MANAGEMENT TEAM & BOARD OF DIRECTORS 16 #TogetherWeSoar
Slide 17: Well entrenched Pan India Network
Well entrenched Pan India Network Semi-Urban State/UT wise Branches Metro Urban Total Semi-Urban and Rural State/UT wise Branches Metro Urban Total and Rural Andaman and Nicobar Islands - 1 - 1 Andhra Pradesh 9 94 200 303 Manipur - - 1 1 Assam - 11 20 31 Meghalaya - 1 - 1 Bihar 4 45 44 93 Odisha - 1
Slide 18: Professional Management Team with Vast Industry Experience
Professional Management Team with Vast Industry Experience Umesh Revankar • Joined as an Executive Trainee in 1987. He has been associated with Shriram Group for over 37 years and has shouldered various responsibilities and worked in several key roles of business operations. Executive Vice- • Holds
Slide 19: Professional Management Team with Vast Industry Experience
Professional Management Team with Vast Industry Experience • Commerce Graduate, a Fellow of Cost and Management Accountants of India. R. Chandrasekar • Has been serving the Shriram Group for more than three decades in the areas of Finance, Accounts and other back office functions. CCO and Joint • He
Slide 20: Board of Directors
Board of Directors • Holds M.A. (Economics) from Delhi School of Economics and Post Graduate in Economics from Boston University, USA Jugal Kishore Mohapatra • Holds Degree of Doctor of Philosophy in Business Management from XIM University • IAS, Odisha Cadre, Currently Nominee Director of Foundatio
Slide 21: Board of Directors
Board of Directors • Joined in 2024 • Holds degree in B.Sc, M.Sc. in Agriculture from University of Tamil Nadu and Bachelor of Law from University of Delhi. Mrs. M. V. Bhanumathi • Retired as the Director General of Income Tax – Investigation, Mumbai region, Income Tax Department in May 2022. Indepe
Slide 22: Board of Directors
Board of Directors • Serving as Managing Director and CEO of the Company. He is a Commerce graduate from Andhra University Y. S. Chakravarti • Started his career in Shriram Chits Pvt. Ltd., Andhra Pradesh in June 1991 as an executive trainee, and rose to the Managing Director position of Chief Execu
Slide 23: Board of Directors
Board of Directors • Joined CV Finance business of Shriram Group in 1992 as Head of Investment Servicing. • Currently serves as Managing Director of Shriram Capital Private Limited. D V Ravi • Spearheaded several successful M&A’s for TAKE Solutions Ltd. Director • Started his career in Strategy and
Slide 24: Shriram One App Summary
Shriram One App Summary Strategic Digital Metrics for Q1 FY26 Particulars Unit # Q1 FY26 Q4 FY25 Q1 FY25 App downloads - Cumulative in mn 17.70 15.70 3.90 App Net installs - Cumulative in mn 13.90 12.30 3.60 In-App modules – Cumulative count 160 150 140 Non Shriram Customers Installing the app - Cum
Slide 25: Performance Track Record
PERFORMANCE TRACK RECORD 25 #TogetherWeSoar
Slide 26: Strong Financial Track Record
Strong Financial Track Record P&L Metrics (Rs. mn) FY25* FY24* FY23* FY22 FY21 FY20 Interes t Income (Incl . Securi ti za ti on) 414,564.1 346,524.6 296,396.0 191,806.2 173,346.6 164,773.1 Les s : Interes t Expens es 186,213.2 149,656.1 126,766.0 98,645.6 91,675.6 83,703.3 Net Interest Income 228,35
Slide 27: Strong Financial Track Record
Strong Financial Track Record Balance Sheet Metrics (Rs. mn) FY25* FY24* FY23* FY22 FY21 FY20 - On Books 2,599,159.1 2,216,676.6 1,833,384.2 1,256,990.3 1,161,916.0 1,085,017.1 - Off Books 32,743.6 31,943.2 23,444.4 13,418.3 10,512.3 12,475.3 Total AUM 2,631,902.7 2,248,619.8 1,856,828.6 1,270,408.6
Slide 28: Healthy Asset Quality (as per IndAS)
Healthy Asset Quality (as per IndAS) Particulars (Rs. mn) FY25* FY24* FY23 FY22 FY21 FY20 Gross Stage 3 118,387.9 120,811.5 113,821.8 88,875.5 82,952.1 91,797.1 ECL provision-Stage 3 51,243.2 62,567.1 57,073.2 44,415.0 34,885.3 31,886.5 Net Stage 3 67,144.7 58,244.4 56,748.6 44,460.5 48,066.8 59,910
Slide 29: Access to Low Cost Funds
Access to Low Cost Funds Mar'25@ Mar'24@ Mar'23@ Mar'22 Mar'21 Product Amt in bn % Amt in bn % Amt in bn % Amt in bn % Amt in bn % Commercial Paper - - 23.7 1.28% - - - - - - Non-Convertible Debentures 383.0 16.35% 316.3 17.02% 302.4 19.15% 213.5 18.65% 213.9 20.14% Public Deposit 560.9 23.95% 444.4
Slide 30: Well-Capitalized Balance Sheet
Well-Capitalized Balance Sheet Capital Adequacy Ratio at 20.66% (Tier I – 19.03%, Tier II – 0.63%) as on March 31, 2025 vs 15% mandated by RBI Networth (Rs. mn) CRAR (%) 20.66% Book Value (Rs.) 22.61% 22.97% 22.50% 20.30% 1,156.61 958.61 852.30 299.30 258.48 5,67,085 4,84,638 4,32,021 2,59,046 2,1
Slide 31: Credit rating as on June 30, 2025
Credit rating as on June 30, 2025 Credit Rating Agency Instruments 30.06.2025 Domestic Ratings: CRISIL Bank Loans - Long Term AA+ / Stable CRISIL Capital Market AA+ / Stable CRISIL Commercial Paper A1+ India Ratings Bank Loans - Long Term AA+ / Stable India Ratings Capital Market AA+ / Stable India
Slide 32: Shareholding Pattern as on June 30, 2025 vs June 30, 2024
Shareholding Pattern as on June 30, 2025 vs June 30, 2024 No. of shares outstanding: 1,880.6** mn No. of shares outstanding: 375.91 mn Other Other Corporate Public 5.54% Public 4.85% Corporate Body , Body , 0.37% 0.34% Promoters & Promoters & Promoters MF/Bank/ Promoters MF/Bank/ group*, Insurance g
Slide 33: List of Key Shareholders as on June 30, 2025
List of Key Shareholders as on June 30, 2025 Current Key Shareholders Shareholding % (mn Shares) Promoter and Promoter Group Shriram Capital Private Limited (Formerly known as Shriram 335.7 17.85 Financial Ventures (Chennai) Private Limited) Shriram Value Services Limited 133.8 7.11 Shriram Ownershi
Slide 34: Has Attracted Strong Interest from Quality Investors
Has Attracted Strong Interest from Quality 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
Slide 35: Recent Performance
RECENT PERFORMANCE 35 #TogetherWeSoar
Slide 36: Company Updates
Company Updates ❑ The Board of Directors of the Company in its meeting held on April 26, 2024 had approved acquisition of 100% equity stake in Shriram Overseas Investments Private Limited (renamed as Shriram Overseas Investments Limited consequent upon conversion into public company w.e.f. June 04,
Slide 37: Performance Highlights – Q1 FY26 vs Q1 FY25
Performance Highlights – Q1 FY26 vs Q1 FY25 Q1 FY26 Rs. 115,417.6 mn Total Income 20.11 % Q1 FY25 Rs. 96,097.1 mn Q1 FY26 Rs 60,264.3 mn Net Interest Income** 12.55 % **including Net Direct assignment Income Rs. Nil Q1 FY25 Rs. 53,544.7 mn (Q1 FY25 Rs. 313.1 mn) Q1 FY26 Rs 21,557.3 mn PAT 8.84 % Q1
Slide 38: Performance Highlights – Q1 FY26 vs Q1 FY25
Performance Highlights – Q1 FY26 vs Q1 FY25 Q1 FY26 Rs. 2,722,490.1 mn AUM 16.62% Q1 FY25 Rs 2,334,436.6 mn Q1 FY26 Rs 121,994.8 mn Gross Stage 3 Assets 1.68% Q1 FY25 Rs 124,077.5 mn Q1 FY26 Rs 67,932.9 mn Net Stage 3 Assets 12.07% Q1 FY25 Rs 60,617.9 mn Q1 FY26 Rs. 310.93 Book Value* 15.59% Q1 FY25
Slide 39: AUM Break-up
AUM Break-up Particulars (Rs. mn) Q1 FY26 Q4 FY25 Q1 FY25 YoY (%) QoQ (%) Loan Portfolio - On Books Balance sheet assets 2,314,226.8 2,231,869.8 2,026,949.0 14.17% 3.69% Securitised assets 378,043.6 367,289.3 275,513.3 37.21% 2.93% Total On books 2,692,270.4 2,599,159.1 2,302,462.3 16.93% 3.58% - Of
Slide 40: Segment-wise AUM Break-up
Segment-wise AUM Break-up Product Q1 FY26 Q4 FY25 Q1 FY25 YoY (%) QoQ (%) (Rs. mn) Amt % Amt % Amt % Commercial Vehicles 1,231,318.9 45.23% 1,185,605.0 45.05% 1,096,791.8 46.98% 12.27% 3.86% Passenger Vehicles 566,347.6 20.80% 541,044.9 20.56% 459,822.5 19.70% 23.17% 4.68% Construction Equipments 16
Slide 41: Branch & AUM distribution – Q1 FY26 vs Q1 FY25
Branch & AUM distribution – Q1 FY26 vs Q1 FY25 Metro, Urban, Branch (Nos) 327 1,145 AUM (Rs bn) Metro, Urban, 326.5 1,044.0 Q1 FY26 Q1 FY26 Semi- Total AUM Urban and Semi-Urban Total Branch 3,225 Rural, Rs 2,722.4 bn and Rural, 1,753 1,351.9 Metro, Urban, 322 1,130 Metro, 279.1 Urban, Q1 FY25 929.1
Slide 42: Provision Analysis – Jun'25
Provision Analysis – Jun’25 Particulars (Rs. mn) Q1 FY26 Q4 FY25 Q1 FY25 YoY (%) QoQ (%) Gross Stage 3 121,994.8 118,387.9 124,077.5 -1.68% 3.05% ECL provision-Stage 3 54,061.9 51,243.3 63,459.6 -14.81% 5.50% Net Stage 3 67,932.9 67,144.6 60,617.9 12.07% 1.17% Gross Stage 3 (%) 4.53% 4.55% 5.39% -15
Slide 43: Product-wise Provision Analysis – Jun'25
Product-wise Provision Analysis – Jun’25 Commercial Passenger Construction Farm Two Personal Particulars (Rs. mn) MSME Gold Loan Total Vehicles Vehicles Equipment Equipment Wheeler Loans Gross Stage 3 58,821.9 23,055.9 9,691.5 4,392.7 15,854.6 5,014.8 1,063.4 4,099.9 121,994.8 ECL provision-Stage 3
Slide 44: Commercial Vehicles
Commercial Vehicles Particulars (Rs. mn) Q1 FY26 Q4 FY25 Q1 FY25 YoY (%) QoQ (%) Gross Stage 3 58,821.9 57,071.3 63,346.9 -7.14% 3.07% ECL provision-Stage 3 24,627.3 23,430.4 33,185.8 -25.79% 5.11% Net Stage 3 34,194.6 33,640.9 30,161.1 13.37% 1.65% Gross Stage 3 (%) 4.84% 4.88% 5.85% -17.33% -0.86%
Slide 45: Passenger Vehicles
Passenger Vehicles Particulars (Rs. mn) Q1 FY26 Q4 FY25 Q1 FY25 YoY (%) QoQ (%) Gross Stage 3 23,055.9 22,393.2 23,791.2 -3.09% 2.96% ECL provision-Stage 3 9,609.3 9,123.3 11,458.9 -16.14% 5.33% Net Stage 3 13,446.6 13,269.9 12,332.3 9.04% 1.33% Gross Stage 3 (%) 4.13% 4.21% 5.27% -21.66% -1.91% Net
Slide 46: Construction Equipments
Construction Equipments Particulars (Rs. mn) Q1 FY26 Q4 FY25 Q1 FY25 YoY (%) QoQ (%) Gross Stage 3 9,691.5 9,937.6 10,492.7 -7.64% -2.48% ECL provision-Stage 3 3,935.8 3,971.7 5,169.6 -23.87% -0.90% Net Stage 3 5,755.7 5,965.9 5,323.1 8.13% -3.52% Gross Stage 3 (%) 5.93% 5.63% 6.24% -4.89% 5.37% Net
Slide 47: Farm Equipments
Farm Equipments Particulars (Rs. mn) Q1 FY26 Q4 FY25 Q1 FY25 YoY (%) QoQ (%) Gross Stage 3 4,392.7 4,063.4 3,475.4 26.40% 8.10% ECL provision-Stage 3 1,762.1 1,578.3 1,503.0 17.23% 11.64% Net Stage 3 2,630.6 2,485.2 1,972.4 33.37% 5.85% Gross Stage 3 (%) 7.59% 7.88% 8.93% -15.01% -3.71% Net Stage 3
Slide 48: MSME
MSME Particulars (Rs. mn) Q1 FY26 Q4 FY25 Q1 FY25 YoY (%) QoQ (%) Gross Stage 3 15,854.6 15,104.9 13,725.6 15.51% 4.96% ECL provision-Stage 3 8,549.4 7,996.5 7,872.7 8.60% 6.91% Net Stage 3 7,305.2 7,108.4 5,852.9 24.81% 2.77% Gross Stage 3 (%) 4.12% 4.08% 4.86% -15.16% 1.00% Net Stage 3 (%) 1.94% 1
Slide 49: Two Wheelers
Two Wheelers Particulars (Rs. mn) Q1 FY26 Q4 FY25 Q1 FY25 YoY (%) QoQ (%) Gross Stage 3 5,014.8 4,809.2 3,995.6 25.51% 4.28% ECL provision-Stage 3 2,853.9 2,672.3 1,945.3 46.70% 6.80% Net Stage 3 2,160.9 2,136.9 2,050.3 5.39% 1.12% Gross Stage 3 (%) 3.16% 3.09% 3.10% 2.18% 2.46% Net Stage 3 (%) 1.39
Slide 50: Gold
Gold Particulars (Rs. mn) Q1 FY26 Q4 FY25 Q1 FY25 YoY (%) QoQ (%) Gross Stage 3 1,063.4 996.6 1,189.5 -10.60% 6.71% ECL provision-Stage 3 99.0 98.0 88.5 11.92% 1.00% Net Stage 3 964.4 898.6 1,101.0 -12.40% 7.32% Gross Stage 3 (%) 2.06% 2.06% 1.94% 6.20% 0.14% Net Stage 3 (%) 1.87% 1.86% 1.80% 4.11%
Slide 51: Personal Loans
Personal Loans Particulars (Rs. mn) Q1 FY26 Q4 FY25 Q1 FY25 YoY (%) QoQ (%) Gross Stage 3 4,099.9 4,011.6 4,060.7 0.97% 2.20% ECL provision-Stage 3 2,625.2 2,372.8 2,235.7 17.42% 10.64% Net Stage 3 1,474.7 1,638.8 1,825.0 -19.19% -10.02% Gross Stage 3 (%) 3.99% 4.17% 4.55% -12.38% -4.51% Net Stage 3
Slide 52: P&L Statement
P&L Statement Particulars (Rs. mn) Q1 FY26 Q4 FY25 Q1 FY25 YoY (%) QoQ (%) FY25 Interest income 114,631.4 113,274.9 95,210.1 20.40% 1.20% 414,564.1 Interest expended 54,367.1 52,763.0 41,665.4 30.49% 3.04% 186,213.2 Net interest income 60,264.3 60,511.9 53,544.7 12.55% -0.41% 228,350.9 Staff cost 9,
Slide 53: Summarised Balance Sheet
Summarised Balance Sheet Particulars (Rs. mn) Jun-25 Mar-25 Jun-24 YoY(%) QoQ (%) I. Assets Financial Assets a) Cash and bank balances 256,904.4 213,657.4 78,996.1 225.21% 20.24% b) Loans 2,539,346.3 2,453,927.9 2,158,220.3 17.66% 3.48% c) Investments 136,622.3 155,987.1 90,531.1 50.91% -12.41% d) O
Slide 54: Key Metrics – Q1 FY26
Key Metrics – Q1 FY26 P&L Metrics (Rs. mn) Q1 FY26 Q4 FY25 Q1 FY25 YoY (%) QoQ (%) FY25 Interest Income 114,631.4 113,274.9 95,210.1 20.40% 1.20% 414,564.1 Less: Interest Expenses 54,367.1 52,763.0 41,665.4 30.49% 3.04% 186,213.2 Net Interest Income 60,264.3 60,511.9 53,544.7 12.55% -0.41% 228,350.9
Slide 55: Key Metrics – Q1 FY26 (Contd.)
Key Metrics – Q1 FY26 (Contd.) Balance Sheet Metrics (Rs. mn) Q1 FY26 Q4 FY25 Q1 FY25 YoY (%) QoQ (%) FY25 Networth 588,657.2 567,085.3 507,864.4 15.91% 3.80% 567,085.3 Book Value (Rs.)* 310.93 299.30 269.00 15.59% 3.89% 299.30 Interest Coverage (x) 2.12 2.17 2.30 -7.83% -2.30% 2.25 ROA (%) (includi
Slide 56: Borrowing Profile
Borrowing Profile Q1 FY26 Q4 FY25 Q1 FY25 Product Amt in bn % Amt in bn % Amt in bn % Commercial Paper - - - - 33.8 1.76% Non-Convertible Debentures 396.1 16.31% 383.0 16.35% 321.2 16.75% Public Deposit 630.3 25.95% 560.9 23.95% 474.9 24.77% Securitisation 388.2 15.98% 380.5 16.25% 290.6 15.16% Subo
Slide 57: ALM Statement as on June 30, 2025
ALM Statement as on June 30, 2025 Over one Over 2 Over 3 Over 6 Over one Over 3 to Particulars (Rs. mn) One month month to 2 months to months to months to year to 3 Over 5 years Total 5 years months 3 months 6 months one year years Total Outflows 109,819.1 39,300.6 67,860.4 169,733.4 419,583.9 1,168
Slide 58: Shriram Automall India Limited (SAMIL)
Shriram Automall India Limited (SAMIL) 58 #TogetherWeSoar
Slide 59: Business Overview
Business Overview 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 o
Slide 60: Shriram Overseas Investment Limited (SOIL)
Shriram Overseas Investment Limited (SOIL) 60 #TogetherWeSoar
Slide 61: Business Overview
Business Overview Shriram Overseas Investments Limited (SOIL), formerly known as Shriram Overseas Investments Private Limited (SOIPL) is a middle layer non-banking finance company. Shriram Finance Limited (SFL) acquired 100% stake in SOIPL (now, renamed as Shriram Overseas Investment Limited w.e
Slide 62: 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 63: For any Investor Relations queries please contact
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 63 #TogetherWeSoar
Slide 64: Thank You
Thank You 64 #TogetherWeSoar