Finanace Stock engaged in the business of providing vehicle credit solutions company up by 3.51%. After the announcements of consideration of discussing an equity share split, approve September quarter financial results, and declare an interim dividend.
Stock Movement:
Shriram Finance Limited’s share has gained by 3.51% from today’s opening of Rs. 3,223.80. The stock in market hours is trading at ₹3,334.70, with a high of ₹3,373.35 and a low of ₹3,145.30. The market capitalization now stands at approximately ₹1,25,381.14 crore as of October 18, 2024. This bullish movement in Shriram Finance Limited’s stock followed the announcement of the consideration for the stock split.
What Happened
Shriram Finance’s board will come together on October 25, 2024, to discuss a proposal for the sub-division or split of existing equity shares. This meeting will also address the approval of standalone and consolidated financial results for the second quarter and half-year period ending September 30, 2024.
Additionally, the board is expected to consider the declaration of an interim dividend for the financial year 2024–25. If approved, the record date for this dividend will be set for November 7, 2024.
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Financial Performance
Coming into the financial analysis of Shriram Finance Limited, the company’s interest income increased by 21.79 percent YOY, from Rs. 7687.95 crore in Q1 FY24 to Rs. 9362.79 crore in Q1 FY25, and grew by 3.05 percent QoQ from Rs. 9,077.27 crore in Q4 FY24.
In Q1 FY25, Shriram Finance Limited’s net profit surged by 18.60% YOY, reaching Rs. 2,030.64 crore compared to Rs. 1,715.19 crore during the same period last year.
The company reported total revenue from operations has increased from Rs. 8003 crore in Q1 FY24 to Rs 9,605 crore in Q1 FY25, which was higher by 20.02 percent on a YoY basis.
The basic earnings per share increased by 17.81% and stood at Rs 52.73 as against Rs 44.76 recorded in the same period of the previous year.
Company Profile
Shriram Finance Limited was formerly Shriram Transport Finance Company and stands as a leading NBFC headquartered in Mumbai. The company excels in providing diverse credit solutions, including commercial vehicle financing, two-wheeler loans, car loans, and small business funding. The company was founded in 1974 by R. Thyagarajan, AVS Raja, and T. Jayaraman. It began as a chit-fund business before expanding into lending and insurance.
The company serves both urban and rural customers across India through its comprehensive financial services portfolio. Beyond lending, Shriram Finance offers investment options like fixed deposits and chit funds, along with life and general insurance products. Its subsidiaries, Shriram Housing Finance Limited and Shriram Automall India Limited, strengthen its market presence.
Written By – Nikhil Naik
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