Shriram Finance Limited · NSE:SHRIRAMFIN
Shriram Finance — Q2 FY2024 Earnings Presentation
48 slides from Shriram Finance's earnings presentation, Oct 26, 2023
Slide 1: Exchange filing cover letter
SEC/FILING/BSE-NSE/23-24/68A-B October 26, 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: SHRIRA
Slide 2: Investor Update – Q2 & H1 FY2024
Just another milestone in our growth journey Shriram Finance Limited Investor Update – Q2 & H1 FY2024 October 26, 2023
Slide 3: Performance Highlights
Performance Highlights 2
Slide 4: Performance Highlights – Q2 FY24 vs Q2 FY23
Performance Highlights – Q2 FY24 vs Q2 FY23* Q2 FY24 Rs 85,644.5 mn Total Income 15.45 % Q2 FY23 Rs 74,183.5 mn Q2 FY24 Rs 48,181.8 mn Net Interest Income** 17.38 % Q2 FY23 Rs 41,048.6 mn ) ** including Net Direct assignment Income Rs. 1,043.3 Mn (Q2 FY23 511.3 Rs. mn) Q2 FY24 Rs 17,508.4 mn PAT 12.
Slide 5: Performance Highlights – H1 FY24 vs H1 FY23
Performance Highlights – H1 FY24 vs H1 FY23* H1 FY24 Rs 165,724.6 mn Total Income 14.91 % H1 FY23 Rs 144,216.3 mn H1 FY24 Rs 92,568.6 mn Net Interest Income** 14.43 % H1 FY23 Rs 80,893.0 mn ** including Net Direct assignment Income Rs. 1,801.0 Mn (H1 FY23 1,050.8 Rs. mn) H1 FY24 Rs 34,262.8 mn PAT 1
Slide 6: Performance Highlights – Q2 FY24 vs Q2 FY23
Performance Highlights – Q2 FY24 vs Q2 FY23* Q2 FY24 Rs 2,026,409.6 mn AUM 19.65 % Q2 FY23 Rs 1,693,590.8 mn Q2 FY24 Rs 115,563.2 mn Gross Stage 3 Assets 9.20 % Q2 FY23 Rs 105,830.5 mn Q2 FY24 Rs 54,201.7 mn Net Stage 3 Assets 0.55 % Q2 FY23 Rs 53,907.9 mn Q2 FY24 Rs 1,226.46 Book Value 13.05 % Q2 F
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) Q2 FY24 Q1 FY24 Q2 FY23 YoY (%) QoQ (%) FY23 Loan Portfolio - On Books Balance sheet assets 1,760,067.7 1,677,638.2 1,482,206.3 18.75% 4.91% 1,620,893.0 Securitised assets 235,879.3 229,580.6 195,502.6 20.65% 2.74% 212,491.2 Total On books 1,995,947.0 1,907,218.8 1,
Slide 9: Segment-wise AUM Break-up
Segment-wise AUM Break-up Product Q2 FY24 Q1 FY24 Q2 FY23 YoY (%) QoQ (%) FY23 (Rs. mn) Amt % Amt % Amt % Amt % Commercial Vehicles 984,362.7 48.58% 959,047.4 49.64% 876,760.4 51.77% 12.27% 2.64% 932,949.1 50.24% Passenger Vehicles 396,935.1 19.59% 362,919.7 18.78% 300,037.5 17.72% 32.30% 9.37% 338,
Slide 10: Provision Analysis
Provision Analysis Particulars (Rs. in mn) Q2 FY24 Q1 FY24 Q2 FY23* YoY (%)* QoQ (%) FY23 Gross Stage 3 115,563.2 115,088.8 105,830.5 9.20% 0.41% 113,821.8 ECL provision-Stage 3 61,361.5 60,475.4 51,922.6 18.18% 1.47% 57,073.2 Net Stage 3 54,201.7 54,613.4 53,907.9 0.55% -0.75% 56,748.6 Gross Stage
Slide 11: Product wise Provision Analysis – Sep'23
Product wise Provision Analysis – Sep’23 Particulars (Rs. mn) Commercial Passenger Construction Farm Two Personal Vehicles Vehicles Equipments Equipments MSME Wheelers Gold Loans Total Gross Stage 3 60,702.4 20,478.1 10,579.7 3,454.6 11,356.3 3,415.5 1,011.3 4,565.2 115,563.2 ECL provision-Stage 3 3
Slide 12: Geographical Units (GU) Branches
Geographical Units (GU) Urban Semi-urban Rural Total Branches GU1 Puducherry - 7 7 14 Tamil Nadu 73 200 403 676 GU1 Total 73 207 410 690 GU2 Andhra Pradesh 30 114 153 297 Odisha - 23 28 51 Telangana 46 55 101 202 GU2 Total 76 192 282 550 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 GU4 Dadra and Nagar Haveli - - 1 1 Delhi 16 1 - 17 Gujarat 22 51 39 112 Haryana 3 41 17 61 Himachal Pradesh - 4 32 36 Jammu and Kashmir 1 3 11 15 Madhya Pradesh 21 61 107 189 Punjab 7 33 19 59 Chandigarh
Slide 14: Branch & AUM distribution – Q2 FY24 vs Q2 FY23
Branch & AUM distribution – Q2 FY24 vs Q2 FY23 Urban, Branch (Nos) Urban, Rural, AUM (Rs in bn) 299.8 Rural, 1,006.1 396 1,552 Q2 FY24 Q2 FY24 Semi- Urban, 1,027 Semi-Urban, 720.5 Total Branch 2,975 Urban, Total AUM Rural, 383 1474 Rs 2,026.4 bn Urban, Rural, 225.6 868.3 Q2 FY23 Q2 FY23 Semi- Total
Slide 15: Shriram Super App
Shriram Super App 14
Slide 16: Overview
Overview Horizontals Paytech Popular Services Product journey Popular 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: 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 18
Slide 20: 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 21: ShriramOne - Screens
ShriramOne - Screens Home Screen UPI Home Page BBPS Home Page My Accounts Refer a Friend 20
Slide 22: Financial Statements
Financial Statements 21
Slide 23: P&L Statement
P&L Statement Particulars (Rs. mn) Q2 FY24 Q1 FY24 Q2 FY23* YoY (%)* QoQ (%) H1 FY24 H1 FY23* YoY (%)* FY23 Interest income 84,805.1 79,566.7 73,836.8 14.85% 6.58% 164,371.8 143,531.0 14.52% 296,396.4 Interest expended 36,623.3 35,179.9 32,788.2 11.70% 4.10% 71,803.2 62,638.0 14.63% 126,765.7 Net in
Slide 24: Summarised Balance Sheet
Summarised Balance Sheet Particulars (Rs. mn) Sep-23 Jun-23 Sep-22* YoY(%)* QoQ (%) Mar-23 I. Assets Financial Assets a) Cash and bank balances 106,756.7 150,044.0 251,951.1 -57.63% -28.85% 158,174.1 b) Loans 1,871,727.9 1,788,461.9 1,576,252.9 18.75% 4.66% 1,719,845.8 c) Investments 90,514.0 83,339
Slide 25: Key Metrics – Q2 FY24
Key Metrics – Q2 FY24 P&L Metrics (Rs. mn) Q2 FY24 Q1 FY24 Q2 FY23* YoY (%)* QoQ (%) H1 FY24 H1 FY23* YoY (%)* FY23 Interest Income 84,805.1 79,566.7 73,836.8 14.85% 6.58% 164,371.8 143,531.0 14.52% 296,396.4 Less: Interest Expenses 36,623.3 35,179.9 32,788.2 11.70% 4.10% 71,803.2 62,638.0 14.63% 12
Slide 26: Key Metrics – Q2 FY24 (Contd.)
Key Metrics – Q2 FY24 (Contd.) Balance Sheet Metrics (Rs. mn) Q2 FY24 Q1 FY24 Q2 FY23* YoY (%)* QoQ (%) H1 FY24 H1 FY23* YoY (%)* FY23 Networth 459,300.9 448,216.1 405,488.7 13.27% 2.47% 459,300.9 405,488.7 13.27% 432,020.7 Book Value (Rs.) 1,226.46 1,198.55 1,084.91 13.05% 2.33% 1,226.46 1,084.91 1
Slide 27: Borrowing Profile
Borrowing Profile 26
Slide 28: Borrowing Profile
Borrowing Profile Q2 FY24 Q1 FY24 Q2 FY23 Q4 FY23 Product Amt in bn % Amt in bn % Amt in bn % Amt in bn % Commercial Paper 17.81 1.08% 10.62 0.66% - 0.00% - 0.00% Non-Convertible Debentures 288.53 17.45% 287.19 17.73% 335.55 21.21% 302.45 19.15% Public Deposit 408.02 24.68% 386.54 23.87% 325.43 20.5
Slide 29: ALM Statement as on September 30, 2023
ALM Statement as on September 30, 2023 Over one month Over 2 months Over 3 months Over 6 months Over one year Over 3 to 5 Particulars (Rs. mn) One month Over 5 years Total to 2 months to 3 months to 6 months to one year to 3 years years Total Outflows 63,959.4 46,450.4 75,827.3 181,481.4 278,342.7 6
Slide 30: Shareholding
Shareholding 29
Slide 31: Shareholding Pattern as on September 30, 2023 vs 2022
Shareholding Pattern as on September 30, 2023 vs September 30, 2022** No. of shares outstanding: 375.30 mn No. of shares outstanding: 270.52 mn Public, 4.52% Public, 5.35% Other Corporate Other Corporate Body , 0.62% Body , 0.24% Promoters & Promoters Promoters & group*, MF/Bank/ Promoters 29.37% *
Slide 32: List of Key Shareholders as on September 30, 2023
List of Key Shareholders as on September 30, 2023 Key Shareholders Shareholding As on % September 30, 2023 (mn Shares) Promoter and Promoter Group 95.52 25.45 Government of Singapore 17.01 4.53 Government Pension Fund Global 8.86 2.36 Life Insurance Corporation Of India 8.33 2.22 HDFC Mutual Fund (u
Slide 33: Fund raising by institutional and private equity investors
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 34: Shriram Housing Finance Limited (SHFL)
Subsidiary For any Investor Relations Shriram Housing Finance Limited queries please contact (SHFL) 33
Slide 35: SHFL AUM Break-up
AUM Break-up Particulars (Rs. mn) Q2 FY24 Q1 FY24 Q2 FY23 YoY (%) QoQ (%) FY23 Loan Portfolio - On Books Balance sheet assets 82,761.1 73,901.7 54,236.5 52.59% 11.99% 63,636.3 Securitised assets For any Investor 6,947.0 6,027.4 Relations 1,780.0 290.28% 15.26% 3,700.1 Total On books queries 89,708.1
Slide 36: Assets under Management
Assets under Management Segment (Rs. mn) Q2 FY24 Q1 FY24 Q2 FY23 YoY (%) QoQ (%) FY23 HL 60,515.4 54,615.6 38,800.5 55.97% 10.80% 47,487.5 LAP 38,428.7 32,101.6 18,364.1 109.26% 19.71% 24,153.4 MLAP 74.5 1.7 - 0.00% 4172.90% - Top up 5,291.1 4,619.4 3,176.9 66.55% 14.54% 4,082.9 CF 2,951.6 3,238.3 4
Slide 37: P & L Statement
P & L Statement Particulars (Rs. mn) Q2 FY24 Q1 FY24 Q2 FY23 YoY (%) QoQ (%) H1 FY24 H1 FY23 YoY (%) FY23 Interest income 2,734.4 2,310.6 1,586.1 72.40% 18.35% 5,045.0 2,935.7 71.85% 6,611.0 Interest expended 1,760.1 1,457.9 945.0 86.25% 20.73% 3,218.0 1,689.9 90.43% 3,922.8 Net interest income 974.
Slide 38: Summarized Balance Sheet
Summarized Balance Sheet Particulars (Rs. mn) Sep-23 Jun-23 Sep-22 YoY (%) QoQ (%) Mar-23 I. Assets Financial Assets a) Cash and bank balances 4,836.2 3,387.8 2,505.6 93.01% 42.75% 4,895.4 b) Loans 89,008.0 79,328.1 55,434.4 60.56% 12.20% 66,813.5 c) Investments 2,537.7 4,258.5 2,065.6 22.85% -40.41
Slide 39: Provision Analysis
Provision Analysis Particulars (Rs. in mn) Q2 FY24 Q1 FY24 Q2 FY23 YoY (%) QoQ (%) FY23 Gross Stage 3 969.1 798.0 853.7 13.52% 21.44% 624.3 ECL provision-Stage 3 230.7 197.5 207.2 11.34% 16.78% 158.8 Net Stage 3 738.5 600.5 646.5 14.22% 22.97% 465.5 Gross Stage 3 (%) 1.08% 1.00% 1.52% -29.11% 8.20%
Slide 40: Key Metrics
Key Metrics P&L Metrics (Rs. mn) Q2 FY24 Q1 FY24 Q2 FY23 YoY (%) QoQ (%) H1 FY24 H1 FY23 YoY (%) FY23 Interest Income 2,734.4 2,310.6 1,586.1 72.40% 18.35% 5,045.0 2,935.7 71.85% 6,611.0 Less: Interest Expenses 1,760.1 1,457.9 945.0 86.25% 20.73% 3,218.0 1,689.9 90.43% 3,922.8 Net Interest Income 97
Slide 41: Shriram Automall India Limited (SAMIL)
Associate Shriram Automall India Limited (SAMIL) 40
Slide 42: 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 43: Consolidated Numbers
Consolidated Numbers 42
Slide 44: Financial Performance (Consolidated)
Financial Performance (Consolidated) Particulars (Rs. mn) Q2 FY24 Q1 FY24 Q2 FY23* YoY (%)* QoQ (%) H1 FY24 H1 FY23* YoY (%)* FY23 Interest income 88,088.9 82,446.1 75,569.4 16.57% 6.84% 170,535.0 146,611.4 16.32% 303,439.8 Interest expended 38,394.9 36,645.9 33,739.0 13.80% 4.77% 75,040.8 64,336.2
Slide 45: Summarized Balance Sheet (Consolidated)
Summarized Balance Sheet (Consolidated) Particulars (Rs. mn) Sep-23 Jun-23 Sep-22 * YoY (%) * QoQ (%) Mar-23 I. Assets Financial Assets a) Cash and bank balances 111,592.9 153,431.8 254,456.7 -56.14% -27.27% 163,069.5 b) Loans 1,960,676.9 1,867,850.4 1,632,179.9 20.13% 4.97% 1,786,851.4 c) Investmen
Slide 46: 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 45
Slide 47: 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 48: Thank You
Thank You 47