Operationally healthy quarter even as earnings are in line

Company
30 Jan 2024
5 Min read 
  • Shriram Finance reported an operationally healthy quarter with a healthy AUM growth across all its products.
  •  NIM expanded by 5bp QoQ to 9% due to a higher-yielding product mix.
  •  Credit costs remained elevated due to an increase in PCR on S1/S2 loans.
  •  The company expects continued growth in non-CV product segments like 2W, PL, and Gold loans.
  •  The AUM and PAT are expected to have a CAGR of around 18% over FY23-26.
  •  Reiterate BUY rating with a target price of INR2,700.
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