Shriram Finance (SHRIRAMFIN) Q4 22/23 earnings summary

Executive summary

• FY23 amalgamation of SCUF and SCL broadened the lending portfolio and customer reach; AUM was ₹185,682.86 crore, with 7.32 million customers and 2,922 branches.

• Cross-selling, operational efficiencies and digital integration are the stated merger priorities; FY23 comparisons with FY22 are not comparable because the merger is reflected from the appointed date of April 1, 2022.

Financial highlights

• Consolidated FY23 total income was ₹30,508.39 crore, including operating revenue of ₹30,476.78 crore; profit before tax was ₹8,213.72 crore and net profit ₹6,020.03 crore.

• Consolidated basic EPS was ₹160.54 and diluted EPS ₹159.83; standalone PAT was ₹5,979.34 crore versus ₹2,707.93 crore in FY22, with merger effects limiting comparison.

• Consolidated disbursements reached ₹1,11,848.44 crore versus ₹61,808.60 crore in FY22; net interest income was ₹16,963 crore, up 82.08% YoY on the reported basis.

• Consolidated finance costs were ₹12,931.27 crore, impairment expense ₹4,169.06 crore and total expenses ₹22,294.67 crore.

Outlook and guidance

• Medium- and long-term priorities include merger synergies, wider products across branches, Super App implementation, data analytics in lending and collections, and stronger asset quality.

• Cross-selling and digital integration are intended to lift wallet share and revenue; no quantified FY24 financial guidance was stated.

• Industry outlook cited Indian GDP growth of 6.0% for FY24 and projected NBFC AUM growth of 13–14% for FY24.