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Large NBFC financing used commercial vehicles, two-wheelers and gold loans for India's informal/rural borrowers.
Large NBFC financing used commercial vehicles, two-wheelers and gold loans for India's informal/rural borrowers.
Lends against used trucks, mostly to owner-drivers and small fleets that banks decline, at higher rates than banks charge; the gap between those yields and its funding costs from deposits, bonds and bank loans is the profit. Formed through the 2022 merger of Shriram Transport Finance and Shriram City Union Finance.
In one line: A rural, used-vehicle-focused Ally Financial.
Moat: narrow (distribution, data, scale). Deep rural branch network and decades of underwriting data on informal, thin-file borrowers others can't price.
Headquarters: Chennai, India · Founded: 1979 · Employees: 76,241
Size Shriram Finance (SHRIRAMFIN.NS) is an India Financials company (Finance/Rental/Leasing) with a market value of $23.9B, the 41st largest of 1,058 India companies the cockpit tracks. Shares closed at ₹961.15 on 6 Nov 2026.
Performance Over six months the shares fell 5.4%, against +1.6% for the median peer and 0.0% for the India market (cap-weighted) — 9th lowest of 21 in its peer set.
Growth Revenue grew 10.1% over the last twelve months (peer median +17.5%); the operating margin is 44.1% (peer median 26.2%).
Valuation It trades at 2.03× book value against a peer median of 1.75× (9th most expensive of 21).
Price implies The share price implies a return on equity of about 27.6%; Shriram Finance delivers 14.7%, so the price asks more than the business earns today.
Credit Shriram Finance has 2 bonds outstanding ($790M), rated BBB- by the agencies and trading like BB at a weighted spread of 126 bp.
Next results Next results expected around 28 Jan 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | ₹519B | ₹476B | ₹414B | ₹343B | ₹295B |
| Revenue growth | — | +15% | +21% | +16% | — |
| Gross profit | ₹300B | ₹404B | ₹357B | ₹300B | ₹262B |
| EBITDA | ₹236B | ₹355B | ₹312B | ₹262B | ₹234B |
| Net income | ₹127B | ₹100B | ₹95.5B | ₹73.7B | ₹60.1B |
| Free cash flow | n/a | ₹187B | ₹146B | ₹90.8B | ₹95.8B |
| Capital expenditure | n/a | ₹1.96B | ₹2.55B | ₹2.46B | ₹1.97B |
| Total debt | ₹1.63T | ₹1.82T | ₹1.79T | ₹1.52T | ₹1.29T |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | ROE | Price / book | Implied ROE |
|---|---|---|---|---|---|---|
| Shriram Finance SHRIRAMFIN.NS | $23.9B | -5% | +10% | 15% | 2.03× | 27.6% |
| Bajaj Finance BAJFINANCE.NS | $71.6B | +12% | +19% | 19% | 5.50× | 77.1% |
| Cholamandalam Investment and Finance CHOLAFIN.NS | $16.2B | +6% | +21% | 21% | 4.43× | 67.7% |
| Mahindra & Mahindra Financial Services M&MFIN.NS | $4.12B | -15% | +15% | 14% | 1.41× | 23.7% |
| Muthoot Finance MUTHOOTFIN.NS | $12.2B | -20% | +47% | 32% | 2.62× | 32.0% |
| Sundaram Finance SUNDARMFIN.NS | $4.95B | -11% | +14% | 14% | 2.89× | 35.3% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | SHRIRAMFIN.NS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +1.4% | +3.7% | 10th lowest of 21 |
| 6-month return | -5.4% | +1.6% | 9th lowest of 21 |
| Return on equity | 14.8% | 15.5% | 11th highest of 21 |
| Price / book | 2.03× | 1.75× | 9th most expensive of 21 |
| Trailing P/E | 16.0× | 13.0× | 9th most expensive of 21 |
| ROE the price implies | 27.6% | 18.3% | 8th most demanding of 21 |
| ROE delivered | 14.7% | 14.0% | 10th highest of 20 |
| Bond spread | 126 bp | 108 bp | 6th widest of 12 |
| Company | Market | Market cap | 6M return | Revenue growth | ROE | Price / book | Implied ROE | Delivered ROE |
|---|---|---|---|---|---|---|---|---|
| Shriram Finance SHRIRAMFIN.NS | India | $23.9B | -5% | +10% | 15% | 2.03× | 27.6% | 14.7% |
| Affirm AFRM | United States | $23.1B | +6% | +32% | 45% | 4.19× | 73.6% | 45.1% |
| Synchrony Financial SYF | United States | $23.0B | +1% | -2% | 20% | 1.55× | 16.7% | 19.8% |
| Global Payments GPN | United States | $25.8B | +41% | +7% | 2% | 1.12× | 9.8% | 2.2% |
| AerCap AER | United States | $26.2B | +13% | 0% | 17% | 1.38× | 12.4% | 17.0% |
| SOFI SOFI | United States | $21.0B | +3% | +38% | 7% | 1.86× | 27.5% | 7.4% |
| Kaspi.kz Joint Stock Company Sponsored ADR RegS KSPI | United States | $17.7B | +7% | +39% | 45% | 3.15× | 13.6% | 45.4% |
| Cholamandalam Investment and Finance CHOLAFIN.NS | India | $16.2B | +6% | +21% | 21% | 4.43× | 67.7% | 20.6% |
| Tata Capital TATACAP.NS | India | $16.0B | +10% | +18% | 14% | 3.08× | 41.2% | 14.0% |
| Orix 8591.T | Japan | $35.7B | +2% | +17% | 14% | 1.26× | 12.4% | 13.9% |
| Rocket Companies RKT | United States | $42.7B | -4% | +88% | 8% | 1.76× | 26.3% | 7.9% |
| One 97 Communications PAYTM.NS | India | $12.2B | +50% | +24% | 5% | 6.92× | 47.0% | 5.4% |
| Muthoot Finance MUTHOOTFIN.NS | India | $12.2B | -20% | +47% | 32% | 2.62× | 32.0% | 31.8% |
| Mitsubishi HC Capital 8593.T | Japan | $11.9B | -9% | +1% | 7% | 0.93× | 5.9% | 7.2% |
| Power Finance PFC.NS | India | $11.5B | -28% | +4% | 21% | 0.76× | 14.4% | n/a |
| Ally Financial ALLY | United States | $11.5B | -14% | +5% | 10% | 0.88× | 9.8% | 9.9% |
| Indian Railway Finance IRFC.NS | India | $11.1B | -25% | +13% | 13% | 1.74× | 28.2% | 12.6% |
| Ayvens AYV.PA | France | $8.45B | -16% | 0% | 9% | 0.68× | 8.0% | 9.2% |
| REC RECLTD.NS | India | $8.27B | -18% | -3% | 17% | 0.83× | 15.1% | 17.0% |
| FirstCash FCFS | United States | $7.96B | -18% | +23% | 18% | 3.50× | 19.9% | 18.2% |
| Bajaj Finance BAJFINANCE.NS | India | $71.6B | +12% | +19% | 19% | 5.50× | 77.1% | 19.2% |
Shriram Finance has 2 bonds outstanding with $790M face value. The agencies rate it BBB-; its bonds trade like BB. Weighted yield 5.67%, a spread of 126 bp over government bonds.