Shriram Finance Ltd. share price target and research reports

Latest analyst research reports with target prices and PDF download for SHRIRAMFIN, BSE:511218 Shriram Finance Ltd.

Shriram Finance Ltd.

14 Aug 2020

592.50

1.14%

INR9.6b COVID-19 provisions in the quarter; Collection efficiency improving

Buy: Shriram Finance Ltd.

Target

Motilal Oswal

14 August2020 Shriram Transport Finance (SHTF)s 1QFY21 PAT halved to INR3.2b (6% miss). While growth was muted, collection efficiency improved MoM. SHTF also cut opex by 30% QoQ. We modestly increase FY21 estimates to factor higher AUM and lower opex. Our credit cost estimate of 3.5% for FY21 remains unchanged. on the books stood at INR115b as of 12 Aug20. With the COVID-19 provisions, SHTF has increased its Stage-3 PCR from 35% to 39% and Stage-1/2 PCR from 3.1% to 3.7% QoQ. Less than 10% of customers would need restructuring, according to management. Due to a change in accounting policy, the fair value of hedges is now routed through OCI rather than the P&L.; Since the IL&FS; crisis, the company has diversified into new borrowing sources such as retail NCDs and ECBs. The share of ECBs in total borrowings increased meaningfully to 18% YoY from 10%.

Shriram Finance Ltd. has an average target of 726.43 from 7 brokers.

Shriram Finance Ltd.

12 Jun 2020

592.50

1.14%

Shriram Transport Finance Company Ltd - Result Update Q4FY20

Buy: Shriram Finance Ltd.

Target

Edelweiss

Shriram Transport Finance Company Ltd. (SHTF) reported muted set of numbers amid a challenging macro and industry scenario

Number of FII/FPI investors increased from 1263 to 1289 in Jun 2025 qtr.

Shriram Finance Ltd.

11 Jun 2020

592.50

1.14%

Q4FY20 Result Update - Liquidity vs growth conundrum creeps in - Downgrade to 'Accumulate'

Accumulate: Shriram Finance Ltd.

Recommendation Target

Prabhudas Lilladhar

Only when we thought asset quality was on mend and liquidity overhang subsiding for SHTF, the pandemic shocks knocked both the aforesaid parameters yet again putting near term earnings under pressure. Q4FY20 witnessed 70%+ decline in PAT both YoY/QoQ to Rs2.2bn (PLe:Rs7.9bn) largely on account of Rs9.1bn COVID provisioning. Business trends stood weaker than expectations for 81-day quarter with AUMs at Rs1097bn (PLe:Rs1117bn) growing flattish QoQ (5% up YoY) led by slowing pace of...

Shriram Finance Ltd. has an average target of 726.43 from 7 brokers.

Shriram Finance Ltd.

11 Jun 2020

592.50

1.14%

Moderate biz growth; COVID provisions mar profitability

Buy: Shriram Finance Ltd.

Target

Motilal Oswal

11 June 2020 SHTFs 4QFY20 PAT declined 70% YoY to INR2.2b (65% miss). While operating profit missed our estimates by 8% due to lower-than-expected NII, higher COVID-19 related provisions of INR9.1b led to the PAT miss. PAT declined 2% YoY in FY20 while RoA/RoE stood at 2.3%/15%. The company collected money from 84%/23%/52% of its customers in Mar/Apr/May20 and in value terms it stood at ~15%/30% of Apr/May20 collections. NIMs declined 38bp QoQ to 6.76% as the currency movement on forex borrowings and higher excess liquidity impacted margins. GS3 remained stable YoY and declined 36bp QoQ to 8.36% We downgrade our EPS estimates by 11% for FY21E on the back of lower loan book growth. Our channel checks indicate that the used CV and driver- cum-operator segments (which are SHTFs target segments) are doing much better than other segments in CV financing. AUM was flat QoQ and grew 5% YoY to INR1.1t.

Shriram Finance Ltd. has an average target of 726.43 from 7 brokers.

Shriram Finance Ltd.

12 Feb 2020

592.50

1.14%

Shriram Transport Finance Company Ltd

Buy: Shriram Finance Ltd.

Angel Broking

Outlook & Valuation: We expect STFC's AUM to grow at moderate CAGR of 11% over FY2019-22E, however, we expect operating parameter to improve at healthy rate owing to improvement in NIM, asset quality. We expect STFC to report RoA/RoE of 2.8%/17.3% in FY2021E. At CMP, the stock is trading at 1.6x FY2021E ABV and 8x

Shriram Finance Ltd. is trading below all available SMAs

Shriram Finance Ltd.

05 Feb 2020

592.50

1.14%

Shriram Transport Finance Company Ltd - Result Update Q3FY20

Buy: Shriram Finance Ltd.

Target

Edelweiss

Shriram Transport Finance Company Ltd. (SHTF) reported largely in line operating numbers, however, credit cost came in much lower leading to a significant beat on PAT.

Shriram Finance Ltd. is trading below all available SMAs

Shriram Finance Ltd.

04 Feb 2020

592.50

1.14%

Shriram Transport Finance Co. (3QFY20): Asset quality surprise. Maintain BUY

Buy: Shriram Finance Ltd.

Target

HDFC Securities

Our stance on SHTF remains unchanged as operational performance was in line with expectations. News on the asset quality front is positive, but we watch for sustainability, considering the broader economic environment. An improvement in demand and better availability of funds could improve SHTF's growth prospects. The possibility of a 3-way merger within the group remains an overhang. Tepid AUM growth at ~5% YoY (flat QoQ) was on expected lines. Asset quality was surprisingly stable QoQ and this is contextually impressive. Consequently, lower provisions led to a 25% PAT beat. Maintain BUY (TP of Rs 1,524, 1.75x Dec-21E ABV of Rs 871).

Number of FII/FPI investors increased from 1263 to 1289 in Jun 2025 qtr.

Shriram Finance Ltd.

04 Feb 2020

592.50

1.14%

Q3FY20 Result Update

Buy: Shriram Finance Ltd.

Target

Prabhudas Lilladhar

We did highlight a quarter ago that SHTF balance sheet is on the path of mend and Q3FY20 healthy earnings set corroborates our stance. Amidst sectoral headwinds and funding challenges, SHTF put up decent 5%YoY AUM growth, remaining flat QoQ largely led by used CV loans that grew healthy 7.5%YoY/ 1.5%QoQ. The used CV mix inched up 207bps YoY to 85% supporting margins and growth alike. While funding pressures sustained for past couple of quarters, Q3 witnessed slight higher overseas borrowing costs coupled with...

Number of FII/FPI investors increased from 1263 to 1289 in Jun 2025 qtr.

Shriram Finance Ltd.

03 Feb 2020

592.50

1.14%

Asset quality surprises positively; upgrade estimates by 8 %

Buy: Shriram Finance Ltd.

Target

Motilal Oswal

3 February 2020 SHTF reported 38% YoY growth in PAT to INR8.8b (27% beat). 5bp/30bp QoQ/YoY to 7.14% at 5% YoY (AUM of INR1.08t), impacted by a 14% YoY drop in new CV financing. Share of other loans remained stable at ~5.4%. We upgrade our EPS estimates by 8-9% on the back of lower credit costs. Overall, we expect PAT CAGR of ~10% over FY20-22 and RoA/RoE of ~2.7%/16%. Maintain Disbursements increased 19% YoY to INR114b off the low base of 3QFY19. AUM growth was modest at 1% QoQ/5% YoY to INR1.09t. Rural AUM grew 3% QoQ/17% YoY to INR435b. Share of rural in overall AUM increased to 40% from 36% a year ago and 39% a quarter ago.

Shriram Finance Ltd. has an average target of 726.43 from 7 brokers.

Shriram Finance Ltd.

07 Nov 2019, 12:00AM

592.50

1.14%

Shriram Transport Finance Company Ltd: Dominant Market Position

Buy: Shriram Finance Ltd.

Karvy

Dominant Market Position in Pre-owned CV Financing,Stabilizing Asset Quality and Network Expansion to DriveFuture Growth: yyShriram Transport Finance Company (STFC) enjoys a dominant position in thepre-owned CV

Number of FII/FPI investors increased from 1263 to 1289 in Jun 2025 qtr.

Is Shriram Transport Finance Company Ltd. worth buying?

502 Votes:

Buy 79.08%

Sell 13.75%

Hold 7.17%

RESEARCH REPORTS

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