Business OverviewShriram Transport Finance Company Ltd is a part of the SHRIRAM Group conglomerate which has a significant presence in the financing business. STFC is engaged in the business of commercial vehicle financing mainly focusing on trucks from preowned to new ones. It's a Deposit-taking NBFC comprising 1,758 branches, 831 rural centers, and partnerships with ~500 private financiers.[1]
OverviewShriram Finance is the flagship company of the Shriram group, which has a significant presence in Consumer Finance, Life Insurance, General Insurance, Housing Finance, Stock Broking, and Distribution businesses. It is one of India’s largest retail asset financing NBFCs with AUM of more than Rs 2.6 trillion. It has a vertically integrated business model and offers financing to passenger commercial vehicles, loans to MSMEs, tractors, gold, personal loans, and working capital loans, etc.[1]
| S.No. | Name | Current Price (Rs.) | Price to Earning | Market Capitalization (Rs.Cr.) | Dividend yield (%) | Net Profit latest quarter (Rs.Cr.) | YOY Quarterly profit growth (%) | Sales latest quarter (Rs.Cr.) | YOY Quarterly sales growth (%) | Return on capital employed (%) | Sales (Rs.Cr.) | OPM (%) | Profit after tax (Rs.Cr.) | Profit after tax latest quarter (Rs.Cr.) | Price to book value | Return on assets (%) | Debt to equity |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1. | Bajaj Finance | 950.25 | 32.30 | 591197.59 | 0.46 | 4947.76 | 21.89 | 20178.90 | 18.06 | 11.35 | 76194.74 | 68.48 | 18301.08 | 4875.36 | 5.73 | 3.99 | 3.85 |
| 2. | Shriram Finance | 995.45 | 20.89 | 187896.03 | 0.99 | 2307.18 | 11.39 | 11907.79 | 18.02 | 11.24 | 45595.96 | 72.60 | 8996.42 | 2307.18 | 3.10 | 3.23 | 3.88 |
| 3. | Muthoot Finance | 3936.10 | 21.64 | 158038.06 | 0.66 | 2411.65 | 90.36 | 7282.79 | 47.76 | 13.19 | 24544.40 | 75.96 | 7303.69 | 2420.63 | 4.82 | 4.67 | 3.76 |
| 4. | Tata Capital | 359.35 | 41.43 | 152474.92 | 0.00 | 1118.97 | 2.01 | 7737.18 | 7.69 | 9.58 | 28323.85 | 71.64 | 3658.33 | 1097.32 | – | 1.72 | 5.88 |
| 5. | Cholaman.Inv.&Fn | 1699.20 | 30.87 | 143389.94 | 0.12 | 1159.61 | 19.82 | 7491.38 | 19.76 | 10.34 | 28536.73 | 69.18 | 4645.19 | 1159.61 | 5.51 | 2.38 | 7.23 |
| 6. | SBI Cards | 839.65 | 41.65 | 79889.76 | 0.30 | 444.77 | 9.98 | 4960.98 | 12.21 | 10.40 | 19130.54 | 27.49 | 1918.14 | 444.77 | 5.40 | 3.10 | 3.33 |
| 7. | L&T Finance Ltd | 296.40 | 27.50 | 74200.78 | 0.93 | 734.88 | 5.64 | 4335.75 | 7.87 | 8.71 | 16715.82 | 60.77 | 2698.51 | 734.84 | 2.81 | 2.37 | 3.72 |
| – | Median: 96 Co. | 130.93 | 21.7 | 490.94 | 0.0 | 7.23 | 10.69 | 41.0 | 12.68 | 8.91 | 166.22 | 56.43 | 17.7 | 6.24 | 1.93 | 3.07 | 0.78 |
Standalone figures in ₹ crores
| Sep 2022 | Dec 2022 | Mar 2023 | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Sales | – | – | – | – | – | – | – | – | – | – | – | – | – |
Expenses | 2,034 | 2,052 | 2,273 | 2,141 | 2,454 | 2,634 | 2,712 | 2,648 | 2,836 | 3,033 | 3,293 | 3,061 | 3,107 |
Operating Profit | – | – | – | – | – | – | – | – | – | – | – | – | – |
Other Income | 10 | 3 | 13 | 5 | 9 | 5 | 14 | 5 | 7 | 1,664 | 6 | 6 | 9 |
Profit before tax | 2,096 | 2,384 | 1,896 | 2,248 | 2,352 | 2,440 | 2,644 | 2,667 | 2,752 | 4,416 | 2,772 | 2,907 | 3,110 |
Tax % | 26% | 25% | 31% | 25% | 26% | 25% | 26% | 26% | 25% | 19% | 23% | 26% | 26% |
Net Profit | 1,555 | 1,777 | 1,308 | 1,675 | 1,751 | 1,818 | 1,946 | 1,981 | 2,071 | 3,570 | 2,139 | 2,156 | 2,307 |
EPS in Rs | 11.50 | 9.49 | 6.99 | 8.94 | 9.33 | 9.68 | 10.36 | 10.54 | 11.02 | 18.99 | 11.38 | 11.46 | 12.27 |
Standalone Figures in ₹ Crores / Yearly
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Sales | – | – | – | – | – | – | – | – | – | – | – | – | – |
Expenses | 2,068 | 2,341 | 3,388 | 3,652 | 3,252 | 4,171 | 4,683 | 4,932 | 5,816 | 8,492 | 9,877 | 11,728 | 12,495 |
Operating Profit | – | – | – | – | – | – | – | – | – | – | – | – | – |
Other Income | 8 | 7 | 3 | 2 | 145 | 20 | 14 | 14 | 18 | 15 | 25 | -201 | 1,685 |
Interest | 3,963 | 4,420 | 5,087 | 5,220 | 6,411 | 7,564 | 8,313 | 9,089 | 9,773 | 12,601 | 14,868 | 18,529 | 20,901 |
Depreciation | 29 | 41 | 36 | 34 | 36 | 43 | 141 | 137 | 135 | 524 | 569 | 645 | 681 |
Profit before tax | 1,828 | 1,842 | 1,781 | 1,924 | 3,802 | 3,778 | 3,439 | 3,278 | 3,549 | 8,185 | 9,684 | 12,606 | 13,205 |
Net Profit | 1,264 | 1,238 | 1,178 | 1,257 | 2,461 | 2,564 | 2,502 | 2,487 | 2,708 | 5,979 | 7,190 | 9,761 | 10,172 |
EPS in Rs | 9.99 | 9.78 | 9.31 | 9.94 | 19.45 | 20.26 | 19.77 | 17.62 | 20.02 | 31.94 | 38.27 | 51.91 | 54.10 |
Dividend Payout % | 13% | 18% | 19% | 18% | 10% | 11% | 5% | 18% | 20% | 22% | 24% | 19% | – |
Standalone figures in ₹ crores
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Equity Capital | 227 | 227 | 227 | 227 | 227 | 227 | 227 | 253 | 271 | 374 | 376 | 376 | 376 |
Reserves | 8,046 | 9,011 | 9,927 | 11,075 | 13,349 | 15,609 | 17,778 | 21,315 | 25,662 | 42,932 | 48,193 | 55,904 | 60,028 |
Borrowings | – | – | – | – | – | – | – | – | – | – | – | – | – |
Other Liabilities | 5,038 | 5,813 | 8,018 | 9,993 | 1,539 | 1,542 | 1,389 | 1,647 | 1,328 | 2,451 | 2,867 | 3,055 | 4,274 |
Total Liabilities | 49,235 | 59,327 | 67,963 | 74,405 | 97,245 | 105,292 | 114,129 | 129,761 | 142,106 | 203,664 | 237,276 | 293,533 | 298,987 |
Fixed Assets | 101 | 101 | 101 | 86 | 122 | 147 | 489 | 437 | 418 | 3,327 | 3,287 | 2,914 | 2,806 |
Gross Block | 202 | 233 | 265 | 276 | 151 | 201 | 576 | 560 | 831 | 4,653 | 5,141 | 5,230 | – |
Accumulated Depreciation | 101 | 132 | 164 | 190 | 29 | 54 | 87 | 123 | 413 | 1,326 | 1,854 | 2,316 | – |
CWIP | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 66 | 0 | 0 | 0 |
Investments | 2,725 | 3,327 | 1,356 | 1,547 | 2,341 | 3,999 | 2,798 | 3,198 | 6,809 | 8,565 | 10,657 | 15,599 | 13,284 |
Other Assets | 46,410 | 55,899 | 66,506 | 72,772 | 94,782 | 101,146 | 110,841 | 126,126 | 134,879 | 191,706 | 223,332 | 275,020 | 282,897 |
Total Assets | 49,235 | 59,327 | 67,963 | 74,405 | 97,245 | 105,292 | 114,129 | 129,761 | 142,106 | 203,664 | 237,276 | 293,533 | 298,987 |
Standalone Figures in ₹ Crores / Yearly
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
Cash from Operating Activity | -3,778 | -9,906 | -7,906 | -2,707 | -13,160 | -5,535 | -2,464 | -4,239 | -8,859 | -15,841 | -27,670 | -42,275 |
Cash from Investing Activity | -67 | -42 | -20 | -1 | 103 | -76 | -55 | -25 | -34 | 5,037 | -238 | 3,678 |
Cash from Financing Activity | 4,688 | 8,124 | 5,241 | 3,046 | 13,017 | 5,550 | 4,579 | 12,226 | 8,505 | 9,647 | 24,416 | 43,265 |
Net Cash Flow | 843 | -1,824 | -2,685 | 338 | -40 | -62 | 2,060 | 7,962 | -388 | -1,157 | -3,492 | 4,668 |
Standalone Figures in ₹ Crores / Yearly
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
Debtor Days | – | – | – | – | – | – | – | – | – | – | – | – |
Inventory Days | – | – | – | – | – | – | – | – | – | – | – | – |
Days Payable | – | – | – | – | – | – | – | – | – | – | – | – |
Cash Conversion Cycle | – | – | – | – | – | – | – | – | – | – | – | – |
Working Capital Days | – | – | – | – | – | – | – | – | – | – | – | – |
ROCE % | – | – | – | – | – | – | – | – | – | – | – | – |
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Stock Analysis
Shriram Finance Limited is a leading NBFC within the Shriram Group, primarily focused on commercial vehicle financing, with a widespread presence across India and a diverse financial services portfolio.
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