SEC/FILING/BSE-NSE/23-24/68A-B January 25, 2024

BSE Limited National Stock Exchange of India Limited

P. J. Towers, Listing Department
Dalal Street, Fort, Exchange Plaza, 5th Floor,
Mumbai – 400 001. Plot no. C/1, G- Block,
Scrip Code: 511218 Bandra-Kurla Complex,
Mumbai – 400 051.
NSE Symbol: SHRIRAMFIN

Dear Sirs,

Sub.: Investor Update / Presentation

Further to our letter dated 19th January 2024, and pursuant to Regulation 30 of the Securities
and Exchange Board of India (Listing Obligations And Disclosure Requirements) Regulations,
2015, we enclose herewith our Investor Update / Presentation.

Thanking you,

Yours faithfully,

For SHRIRAM FINANCE LIMITED

Digitally signed by
BALASUNDA BALASUNDARARAO
UPPU
RARAO UPPU Date: 2024.01.25
17:04:24 +05'30'
U BALASUNDARARAO
COMPANY SECRETARY & COMPLIANCE OFFICER
Encl.:a/a.


Just another milestone in our growth journey

Shriram Finance Limited

Investor Update – Q3 & 9M FY2024
January 25, 2024
Performance Highlights

2
Performance Highlights – Q3 FY24 vs Q3 FY23

Q3 FY24 Rs 89,273.0 mn
Total Income 17.28 %
Q3 FY23 Rs 76,121.1 mn

Q3 FY24 Rs 50,939.3 mn
Net Interest Income** 15.04 % Q3 FY23 Rs 44,278.8 mn
**including Net Direct assignment Income
Rs. 731.2 Mn (Q3 FY23 Rs. 401.8 Mn)
Q3 FY24 Rs 18,183.4 mn
PAT 2.33 % Q3 FY23 Rs 17,769.7 mn

Q3 FY24 Rs 48.42
EPS 2.02 % Q3 FY23 Rs 47.46

3
Performance Highlights – 9M FY24 vs 9M FY23
9M FY24 Rs 254,997.6 mn
Total Income 15.73 %
9M FY23 Rs 220,337.4 mn

9M FY24 Rs 143,507.9 mn
Net Interest Income** 14.65 %
9M FY23 Rs 125,171.8 mn
**including Net Direct assignment Income
Rs. 2,532.2 Mn (9M FY23 1,452.6 Rs. mn)
9M FY24 Rs 52,446.2 mn
PAT 12.28 % 9M FY23 Rs 46,710.3 mn

9M FY24 Rs 139.83
EPS 12.09 % 9M FY23 Rs 124.75

4
Performance Highlights – Q3 FY24 vs Q3 FY23

Q3 FY24 Rs 2,142,334.7 mn
AUM 20.70 % Q3 FY23 Rs 1,774,980.2 mn

Q3 FY24 Rs 119,522.6 mn
Gross Stage 3 Assets 8.08 % Q3 FY23 Rs 110,586.1 mn

Q3 FY24 Rs 55,730.0 mn
Net Stage 3 Assets 2.25 % Q3 FY23 Rs 54,505.5 mn

Q3 FY24 Rs 1,252.8
Book Value 10.58 % Q3 FY23 Rs 1,132.9

5
 Assets under Management (AUM),
Provision Analysis and Geographical Distribution

6
AUM Break-up
Particulars (Rs. mn) Q3 FY24 Q2 FY24 Q1 FY24 Q3 FY23 YoY (%) QoQ (%) FY23
Loan Portfolio
- On Books
Balance sheet assets 1,876,421.2 1,760,067.7 1,677,638.3 1,567,662.6 19.70% 6.61% 1,620,893.0
Securitised assets 234,140.5 235,879.3 229,580.5 190,749.6 22.75% -0.74% 212,491.2
Total On books 2,110,561.7 1,995,947.0 1,907,218.8 1,758,412.2 20.03% 5.74% 1,833,384.2
- Off Books** 31,773.0 30,462.6 24,927.8 16,568.0 91.77% 4.30% 23,444.4
Total AUM 2,142,334.7 2,026,409.6 1,932,146.6 1,774,980.2 20.70% 5.72% 1,856,828.6
**Off Books pertains to Direct assignment portfolio.

7
Segment-wise AUM Break-up
Product Q3 FY24 Q2 FY24 Q1 FY24 Q3 FY23 YoY (%) QoQ (%) FY23
(Rs. mn) Amt % Amt % Amt % Amt % Amt %
Commercial Vehicles 1,024,651.2 47.83% 984,362.7 48.58% 959,047.4 49.64% 906,152.4 51.05% 13.08% 4.09% 932,949.2 50.24%
Passenger Vehicles 415,342.1 19.39% 396,935.1 19.59% 362,919.7 18.78% 317,650.8 17.90% 30.75% 4.64% 338,726.4 18.24%
Construction Equipments 162,228.0 7.57% 150,582.0 7.43% 146,261.5 7.57% 138,671.8 7.81% 16.99% 7.73% 143,627.3 7.74%
Farm Equipments 33,563.6 1.57% 34,796.9 1.72% 34,191.2 1.77% 33,296.5 1.88% 0.80% -3.54% 34,788.1 1.87%
MSME 230,858.9 10.78% 213,103.5 10.52% 200,448.0 10.37% 177,115.2 9.98% 30.34% 8.33% 191,507.9 10.31%
Two Wheelers 121,397.2 5.67% 104,190.6 5.14% 100,234.6 5.19% 100,048.9 5.64% 21.34% 16.51% 103,692.4 5.58%
Gold 58,910.0 2.75% 54,055.2 2.67% 49,847.7 2.58% 44,369.7 2.50% 32.77% 8.98% 44,783.9 2.41%
Personal Loans 95,383.7 4.45% 88,383.8 4.36% 79,196.5 4.10% 57,675.0 3.25% 65.38% 7.92% 66,753.5 3.61%
Total AUM 2,142,334.7 100.00% 2,026,409.6 100.00% 1,932,146.6 100.00% 1,774,980.2 100.00% 20.70% 5.72% 1,856,828.6 100.00%

8
Provision Analysis
Particulars (Rs. in mn) Q3 FY24 Q2 FY24 Q1 FY24 Q3 FY23 YoY (%) QoQ (%) FY23
Gross Stage 3 119,522.6 115,563.2 115,088.8 110,586.1 8.08% 3.85% 113,821.8
ECL provision-Stage 3 63,792.6 61,361.5 60,475.4 56,080.6 13.75% 5.49% 57,073.3
Net Stage 3 55,730.0 54,201.7 54,613.5 54,505.5 2.25% 2.04% 56,748.5
Gross Stage 3 (%) 5.66% 5.79% 6.03% 6.29% -9.95% -6.15% 6.21%
Net Stage 3 (%) 2.72% 2.80% 2.96% 3.20% -14.96% -7.93% 3.19%
Coverage Ratio (%) Stage 3 53.37% 53.10% 52.55% 50.71% 5.25% 1.57% 50.14%
Gross Stage 2 147,923.3 143,250.3 149,643.8 163,005.4 -9.25% -1.15% 163,362.9
ECL provision-Stage 2 10,449.8 9,743.0 10,464.9 10,779.1 -3.06% -0.14% 11,052.9
Net Stage 2 137,473.5 133,507.3 139,178.9 152,226.4 -9.69% -1.23% 152,310.0
Gross Stage 2 (%) 7.01% 7.18% 7.85% 9.27% -24.39% -10.67% 8.91%
ECL provision (%) Stage 2 7.06% 6.80% 6.99% 6.61% 6.83% 1.02% 6.77%
Gross Stage 1 1,843,115.8 1,737,133.4 1,642,486.1 1,484,830.8 24.13% 12.21% 1,556,198.8
ECL provision-Stage 1 57,363.9 53,115.0 47,817.1 41,119.6 39.50% 19.97% 45,412.8
Net Stage 1 1,785,751.9 1,684,018.4 1,594,669.0 1,443,711.2 23.69% 11.98% 1,510,786.0
Gross Stage 1 (%) 87.33% 87.03% 86.12% 84.44% 3.42% 1.40% 84.88%
ECL provision (%) Stage 1 3.11% 3.06% 2.91% 2.77% 12.39% 6.91% 2.92% 9
Product wise Provision Analysis – Dec’23

Particulars (Rs. mn) Commercial Passenger Construction Farm Two Personal

Vehicles Vehicles Equipments Equipments MSME Wheelers Gold Loans Total
Gross Stage 3 61,940.6 22,013.4 10,619.1 3,182.2 11,792.8 4,046.1 1,127.8 4,800.7 119,522.6
ECL provision-Stage 3 33,381.1 11,255.3 5,558.4 1,440.4 7,328.6 2,278.0 91.4 2,459.5 63,792.6
Net Stage 3 28,559.5 10,758.1 5,060.7 1,741.8 4,464.2 1,768.1 1,036.4 2,341.2 55,730.0
Gross Stage 3 (%) 6.13% 5.42% 6.62% 9.73% 5.23% 3.33% 1.91% 5.03% 5.66%
Net Stage 3 (%) 2.92% 2.73% 3.27% 5.57% 2.05% 1.48% 1.76% 2.52% 2.72%
Coverage Ratio (%) Stage 3 53.89% 51.13% 52.34% 45.26% 62.14% 56.30% 8.10% 51.23% 53.37%
Gross Stage 2 67,461.7 25,770.1 11,180.7 3,306.8 18,392.2 8,829.7 5,523.8 7,458.2 147,923.3
ECL provision-Stage 2 5,643.5 2,193.4 944.7 259.0 911.8 217.0 7.8 272.6 10,449.8
Net Stage 2 61,818.2 23,576.7 10,236.1 3,047.8 17,480.5 8,612.6 5,516.1 7,185.67 137,473.5
Gross Stage 2 (%) 6.68% 6.35% 6.97% 10.11% 8.15% 7.27% 9.38% 7.82% 7.01%
ECL provision (%) Stage 2 8.37% 8.51% 8.45% 7.83% 4.96% 2.46% 0.14% 3.65% 7.06%
Gross Stage 1 880,854.5 358,094.1 138,609.1 26,224.1 195,429.5 108,521.5 52,258.4 83,124.7 1,843,115.8
ECL provision-Stage 1 29,465.2 11,995.3 4,644.2 902.1 5,211.0 2,618.0 73.5 2,454.7 57,363.9
Net Stage 1 851,389.3 346,098.8 133,964.9 25,322.0 190,218.5 105,903.5 52,184.9 80,670.1 1,785,751.9
Gross Stage 1 (%) 87.19% 88.23% 86.41% 80.16% 86.62% 89.39% 88.71% 87.15% 87.33% 10
ECL provision (%) Stage 1 3.35% 3.35% 3.35% 3.44% 2.67% 2.41% 0.14% 2.95% 3.11%
Geographical Units (GU) Urban Semi-urban Rural Total
Branches
GU1
Puducherry - 7 7 14
Tamil Nadu 73 200 428 701
GU1 Total 73 207 435 715
GU2
Andhra Pradesh 30 115 153 298
Odisha - 23 29 52
Telangana 46 56 101 203
GU2 Total 76 194 283 553
GU3
Bihar 16 40 38 94
Goa - - 3 3
Jharkhand 13 21 12 46
Maharashtra 51 77 146 274
Uttar Pradesh 33 91 54 178
Uttarakhand - 10 9 19
GU3 Total 113 239 262 614 11
Geographical Units (GU) Urban Semi-urban Rural Total
Branches
GU4
Dadra and Nagar Haveli - - 1 1
Delhi 16 2 - 18
Gujarat 22 53 39 114
Haryana 3 41 20 64
Himachal Pradesh - 4 32 36
Jammu and Kashmir 1 3 11 15
Madhya Pradesh 21 61 107 189
Punjab 8 35 24 67
Chandigarh 3 - - 3
Rajasthan 14 53 66 133
GU4 Total 88 252 300 640
GU5 Total
Assam - 12 18 30
Chhattisgarh 5 18 50 73
Karnataka 24 64 132 220
Kerala 5 22 88 115
Manipur - 1 - 1
Meghalaya - 1 - 1
Sikkim - 1 2 3
Tripura - 2 2 4
West Bengal 17 25 26 68
GU5 Total 51 146 318 515
Grand Total 401 1,038 1,598 3,037

Branch Business Team Rural Centres 12

Customers Employees
Offices
 Branch & AUM distribution – Q3 FY24 vs Q3 FY23
Branch (Nos) Urban, AUM (Rs in bn) Urban, 314.5
Rural, 1,065.8
401 Rural,
1,598

Q3 FY24 Q3 FY24

Semi-
Urban, Semi-Urban,
1,038 762.0
Total Branch 3,037 Total AUM
Urban, Rural, Rs 2,142.3 bn
401 Urban, 269.3 Rural, 867.7
1,502

Q3 FY23 Q3 FY23

Semi-
Total Branch 2,901 Urban, Total AUM
998 Rs 1,775.0 bn Semi-Urban,
Urban branches represents places where population in more than 10 Lakh 638.0 13
Semi-urban branches represents places where population in between 1 Lakh to 10 Lakh
Rural branches represents places where population in less than 1 Lakh
Shriram Super App

14
Overview

Horizontals

Popular
Paytech Services

Product Popular
journey games

Service
15
 Lists of Modules - 105
Horizontal Work in Progress Completed - in CUG
Identity Access Management Credit Score
Products
Onboarding Collections

Home Screen | Bottom Nav|

Profile Settings
Hamburger
Investment Plans
Two Wheeler Loan Voucher Four Wheeler insurance
BBPS - 23 UPI
Savings Plans
Mini Programs - 12 Fixed Deposits Two Wheeler insurance
Fraud Management
Protection Plans
Services - 10 Nudges Lending Lead Forms - 14 Personal Accident
Child Plans
Calculators Rewards
Online Personal Loan GI - Lead Forms - 4
Retirement Plans
Branch Locator Content Management System
Business Loan
Shriram Life Genius
App Notification App Performance & Analytics Assured Benefit Plan
Used Car Finance
LI - Lead Forms - 3
App Communication | Vernacular Vehicle Information

Cross Sell - Augment Gold About us | T&C | Help & Support

Product POP - UP Cross Sell Redirection

Shriram Chits Lead Form Shriram Housing Lead Form 16
Refer a Friend App Content | FAQs
Customer Journey

1 3 5 7
Engagement
Engagement Cross Sell
(Pre Onboarding) Collections
(Application)

• Target Audience • Drop-off • Insurance (LI/GI) • Allocation

assistance • HEMI
• Intent/Context • Skip tracing
• Credit Card
• Channel
• Consumer
• Timing Durable
• Card Protection
• Content
Plan
• RDPL

2 4 6
Offer Generation Credit
Engagement
Stage Underwriting
(Post Sales)
Stage
• Customer • Dedupe • Channel
Eligibility Check
• POA • Timing
• Offer amount • POI • Service
• Offer price • Tele caller
Verification
• Product
• CO
(Flexi/STPL/Term)
Decisioning
• Consent
• Process
• Disbursement 17
ShriramOne

1 2 3
Shriram One is an It manages all the needs a user could We are moving with an end goal of
One stop solution have in one place such as having everything from social
for all of user’s financial needs. loans, payments, investments, networking, shopping, banking
services, and more.
Insurance, credit score check
and so much more. This All with end-users in
reduces the need mind.
to download
multiple apps to perform different
functions.

There is no alternative to digital transformation. Visionary companies will carve

out new strategic options for themselves — those that don’t adapt, will fail.”
18
ShriramOne - Screens

Home Screen UPI Home Page BBPS Home Page My Accounts Refer a Friend

19
Customer Launch Overview

18th September 27th September

Launched on Google Play Launched on iOS App store
store

What next?

Onboarding the exisitng set of SFL Customers on ShriramOne

20
 Shriram One App Summary
Data: Launch till date*

1,316,937
Total Installations BBPS UPI FD
Overview Overview Overview
TXNs Value TXNs Value Leads Value
13,16,937 12,62,534 157K 328 Mn 1100K 673 Mn 22K 102 Mn

4,88,680 3,86,678
2,59,779
1,20,385 1,39,394

Installs Onboarded UPI Register 1st UPI Payment Lending Leads Business Needs Personal Needs
UPI UPI 1st UPI st
Lending Business Personal
Month Installs Onboarded Onboarded % 1 UPI Payment %
Register Register % Payments Leads Leads Leads
Till
126,417 121,881 96% 50,327 41% 42,275 84% 52,911 11,944 40,967
September
October 189,059 183,664 97% 30,790 17% 21,823 71% 93,815 32,367 61,448
November 97,306 93,952 97% 7,746 8% 3,059 39% 30,013 20,401 9,612
December 408,045 392,060 96% 165,948 42% 130,046 78% 42,676 29,045 13,631
January* 496,110 470,977 95% 233,869 50% 189,475 81% 40,364 26,628 13,736
Total 1,316,937 1,262,534 96% 488,680 39% 386,678 79% 259,779 120,385 139,394 21
*till 24 January 2024
Financial Statements

22
P&L Statement
Particulars (Rs. mn) Q3 FY24 Q2 FY24 Q1 FY24 Q3 FY23 YoY (%) QoQ (%) 9M FY24 9M FY23 YoY (%) FY23
Interest income 88,438.7 84,805.1 79,566.7 75,699.1 16.83% 4.28% 252,810.5 219,230.1 15.32% 296,396.4
Interest expended 37,499.4 36,623.3 35,179.9 31,420.3 19.35% 2.39% 109,302.6 94,058.3 16.21% 126,765.7
Net interest income 50,939.3 48,181.8 44,386.8 44,278.8 15.04% 5.72% 143,507.9 125,171.8 14.65% 169,630.7
Staff cost 8,099.1 7,903.8 7,903.9 6,391.0 26.73% 2.47% 23,906.8 18,153.9 31.69% 25,061.1
Other Operating expenditure 6,770.1 6,295.0 5,713.2 5,280.2 28.22% 7.55% 18,778.3 15,449.9 21.54% 22,683.6
Operating expenditure 14,869.2 14,198.8 13,617.1 11,671.2 27.40% 4.72% 42,685.1 33,603.8 27.02% 47,744.7
Core operating profit 36,070.1 33,983.0 30,769.7 32,607.6 10.62% 6.14% 100,822.8 91,568.0 10.11% 121,886.0
Other income 823.1 825.3 492.6 408.2 101.64% -0.27% 2,141.0 1,062.1 101.58% 1,554.6
Operating profit 36,893.2 34,808.3 31,262.3 33,015.8 11.74% 5.99% 102,963.8 92,630.1 11.16% 123,440.6
Loan Losses & Provisions 12,497.0 11,285.5 8,786.1 9,172.3 36.25% 10.74% 32,568.6 29,745.1 9.49% 41,591.7
Profit before tax 24,396.2 23,522.8 22,476.2 23,843.5 2.32% 3.71% 70,395.2 62,885.0 11.94% 81,848.9
Tax Expense 6,212.9 6,014.4 5,721.8 6,073.8 2.29% 3.30% 17,949.1 16,174.7 10.97% 22,055.5
Profit after tax 18,183.3 17,508.4 16,754.4 17,769.7 2.33% 3.85% 52,446.1 46,710.3 12.28% 59,793.4
Other comprehensive Income (Net) (514.2) 990.5 (767.7) (205.0) 150.83% -151.91% (291.4) (1,430.8) -79.63% (258.2)
Total Comprehensive Income 17,669.1 18,498.9 15,986.7 17,564.7 0.59% -4.49% 52,154.7 45,279.5 15.18% 59,535.2
EPS (Rs) 48.42 46.67 44.73 47.46 2.02% 3.75% 139.83 124.75 12.09% 159.69 23
Summarised Balance Sheet
Particulars (Rs. mn) Dec-23 Sep-23 Jun-23 Dec-22 YoY(%) QoQ (%) Mar-23
I. Assets
Financial Assets
a) Cash and bank balances 126,028.7 106,756.7 150,044.0 167,437.1 -24.73% 18.05% 158,174.1
b) Loans 1,978,955.9 1,871,727.9 1,788,461.9 1,650,433.4 19.91% 5.73% 1,719,845.8
c) Investments 93,341.4 90,514.0 83,339.3 93,595.8 -0.27% 3.12% 85,650.6
d) Other-financial assets 6,721.7 7,104.0 9,429.8 9,814.9 -31.52% -5.38% 10,186.3
Non-financial assets
a) Goodwill 14,067.3 14,067.3 14,067.3 14,086.3 -0.13% 0.00% 14,067.3
b) Other non-financial assets 53,428.5 51,555.3 49,658.5 48,133.2 11.00% 3.63% 48,714.5
Total Assets 2,272,543.5 2,141,725.2 2,095,000.8 1,983,500.7 14.57% 6.11% 2,036,638.6

II. Liabilities and Equity

Financial Liabilities
a) Debts 1,774,701.8 1,653,443.5 1,619,465.6 1,533,365.5 15.74% 7.33% 1,579,062.9
b) Other financial liabilities 21,638.3 21,811.3 19,433.7 18,282.0 18.36% -0.79% 18,788.1
Non-financial Liabilities 5,658.6 6,123.8 6,839.7 7,650.8 -26.04% -7.60% 5,721.2
Total Equity 470,544.8 460,346.6 449,261.8 424,202.4 10.92% 2.22% 433,066.4

Total Liabilities and Equity 2,272,543.5 2,141,725.2 2,095,000.8 1,983,500.7 14.57% 6.11% 2,036,638.6 24
Key Metrics – Q3 FY24
P&L Metrics (Rs. mn) Q3 FY24 Q2 FY24 Q1 FY24 Q3 FY23 YoY (%) QoQ (%) 9M FY24 9M FY23 YoY (%) FY23
Interest Income 88,438.7 84,805.1 79,566.7 75,699.1 16.83% 4.28% 252,810.5 219,230.1 15.32% 296,396.4
Less: Interest Expenses 37,499.4 36,623.3 35,179.9 31,420.3 19.35% 2.39% 109,302.6 94,058.3 16.21% 126,765.7
Net Interest Income 50,939.3 48,181.8 44,386.8 44,278.8 15.04% 5.72% 143,507.9 125,171.8 14.65% 169,630.7
Other Operating Income & Other Income 823.1 825.3 492.6 408.2 101.64% -0.27% 2,141.0 1,062.1 101.58% 1,554.6
Profit After Tax 18,183.3 17,508.4 16,754.4 17,769.7 2.33% 3.85% 52,446.1 46,710.3 12.28% 59,793.4
EPS (Rs.) 48.42 46.67 44.73 47.46 2.02% 3.75% 139.83 124.75 12.09% 159.69
Cost to income Ratio (%) 25.14% 25.68% 27.34% 22.23% 13.09% -2.10% 26.00% 23.25% 11.83% 24.57%
NIM 8.99% 8.93% 8.33% 8.52% 5.52% 0.67% 8.77% 8.31% 5.58% 8.37%

25
Key Metrics – Q3 FY24 (Contd.)
Balance Sheet Metrics (Rs. mn) Q3 FY24 Q2 FY24 Q1 FY24 Q3 FY23 YoY (%) QoQ (%) 9M FY24 9M FY23 YoY (%) FY23
Networth 469,499.1 459,300.9 448,216.1 423,156.6 10.95% 2.22% 469,499.1 423,156.6 10.95% 432,020.7
Book Value (Rs.) 1,252.80 1,226.46 1,198.55 1,132.94 10.58% 2.15% 1,252.80 1,132.94 10.58% 1,156.61
Interest Coverage (x) 2.38 2.34 2.28 2.42 -1.65% 1.71% 2.33 2.34 -0.43% 2.35
ROA (%) 3.11% 3.12% 3.10% 3.39% -8.26% -0.32% 3.11% 3.04% 2.35% 2.89%
ROE (%) 15.54% 15.31% 15.27% 17.12% -9.23% 1.50% 15.38% 15.79% -2.60% 14.84%
Tier I CRAR % 20.01% 21.05% 21.27% 21.39% -6.45% -4.94% 20.01% 21.39% -6.45% 21.20%
Tier II CRAR % 1.00% 1.10% 1.13% 1.60% -37.50% -9.09% 1.00% 1.60% -37.50% 1.41%
Total CRAR % 21.01% 22.15% 22.40% 22.99% -8.61% -5.15% 21.01% 22.99% -8.61% 22.61%

26
Borrowing Profile

27
Borrowing Profile

Q3 FY24 Q2 FY24 Q3 FY23 Q4 FY23

Product Amt in bn % Amt in bn % Amt in bn % Amt in bn %
Commercial Paper 24.6 1.39% 17.8 1.08% - 0.00% - 0.00%
Non-Convertible Debentures 309.5 17.44% 288.5 17.45% 325.9 21.26% 302.4 19.15%
Public Deposit 431.2 24.30% 408.0 24.68% 344.9 22.49% 4.6 0.29%
Securitisation 249.5 14.06% 250.0 15.12% 202.7 13.22% 361.4 22.89%
Subordinated debts 43.4 2.45% 43.7 2.64% 46.4 3.02% 221.1 14.00%
Term Loan 460.9 25.97% 423.0 25.58% 410.6 26.78% 45.2 2.86%
External Commercial Bond 108.5 6.11% 107.0 6.47% 123.5 8.06% 412.0 26.09%
ECB Loans 120.1 6.77% 108.6 6.57% 71.4 4.66% 134.1 8.49%
Other Borrowing 26.9 1.51% 6.6 0.40% 7.9 0.52% 98.3 6.23%
Total 1,774.7 100.00% 1,653.4 100.00% 1,533.3 100.00% 1,579.1 100.00%

28
ALM Statement as on December 31, 2023
Over one Over 2 Over 3 Over 6 Over one
Over 3 to
Particulars (Rs. mn) One month month to 2 months to 3 months to months to year to 3 Over 5 years Total
5 years
months months 6 months one year years
Total Outflows 82,206.40 54,993.70 138,296.60 158,865.70 267,064.20 731,958.80 243,989.40 616,484.10 2,293,858.90
Total Intflows 132,173.80 79,760.20 139,432.90 231,409.10 415,106.90 903,850.00 223,385.50 147,377.60 2,272,496.00
Mismatch or Surplus/(Deficit) 49,967.40 24,766.50 1,136.30 72,543.40 148,042.70 171,891.20 (20,603.90) (469,106.50) (21,362.90)
Cum. Mismatch or Surplus/(Deficit) 49,967.40 74,733.90 75,870.20 148,413.60 296,456.30 468,347.50 447,743.60 (21,362.90)

Liquidity Coverage Ratio was 256.25 % as on December 31, 2023.

29
Shareholding

30
Shareholding Pattern as on December 31, 2023 vs December 31, 2022

No. of shares outstanding: 375.6 mn No. of shares outstanding: 374.4 mn

Public ,
Other Public, 4.91%
4.61% Promoter Other
Corporat Promoters
s& Corporate
e Body , Body , &
0.80% Promoter Promoters
s group*, 8.59%
group,
25.43%
MF/Bank 25.29% *
MF/Bank/
Insuranc /Insuran
ce ,
e, Q3 FY24 10.91% Q3 FY23
15.05%

NRI, NRI, 7.39%

0.14% FII & FPI ,
FII & FPI 42.91%
, 53.97%

Details of Promoters/Promoter Group* Holding (%) Details of Promoters/Promoter Group* Holding (%)
Shriram Capital Private Limited 17.87 Shriram Capital Private Limited 17.94%
(Formerly Shriram Financial Ventures (Chennai) Private Limited) (Formerly Shriram Financial Ventures (Chennai) Private Limited)
Shriram Value Services Limited 3.46 Shriram Value Services Limited 3.25%
Shriram Ownership Trust 2.09 Shriram Ownership Trust 2.09%
Sanlam Life Insurance Limited 2.01 Sanlam Life Insurance Limited 2.01%
Total 25.43 Total 25.29%

31
List of Key Shareholders as on December 31, 2023

Key Shareholders Shareholding As %

on December 31,
2023 (mn Shares)
Promoter and Promoter Group 95.5 25.43
Government of Singapore 18.6 4.96
Government Pension Fund Global 8.7 2.31
Kotak Mahindra Trustee Co Ltd. (under diff sub accounts) 8.6 2.28
BNP Paribas Financial Markets 5.1 1.37
New World Fund Inc 4.6 1.24
Aditya Birla Sun Life Trustee Private Limited (under diff sub accounts) 4.6 1.22
Mirae Asset Midcap Fund 4.5 1.19
T. Rowe Price Emerging Markets Discovery Stock Trust 3.9 1.05
Public and Others 221.4 58.95
Total 375.6 100.00
32
 Consistent track record and high growth potential has attracted reputed institutional and private equity investors to infuse
growth capital
 Details of last Equity fund raising :
1. On November 25, 2021, allotted 1.736 mn equity shares of face value of Rs. 10/- each aggregating to Rs. 2.5 bn to
Shriram Capital Limited, Promoter of the Company for conversion of warrants at a price of Rs. 1,440/- per equity
Share (including a premium of Rs. 1,430/- per equity share) on receipt of balance subscription money of Rs. 1.9 bn for
allotment of 1,736,100 Warrants convertible into Equity Shares at Rs. 1.080/- per Warrant, being 75% of the Issue price
of Rs. 1,440/- of the Warrants. The entire proceeds have been utilised for the objects of the Preferential Issue. Pursuant
to allotment of the Equity Shares in the Preferential Issue, the paid-up share capital of the Company stood increased on
November 25, 2021 from Rs. 2,687,836,130/- to Rs. 2,705,197,130/- comprising of 270,519,713 equity shares of face
value of Rs. 10/- each.
2. On July 8, 2021, allotted 1.736 mn equity shares of face value of Rs. 10/- each aggregating to Rs. 2.5 bn on a
preferential basis to Shriram Capital Limited, Promoter of the Company (Preferential Issue) for cash at a price of Rs.
1,440/- per equity Share (including a premium of Rs. 1,430/- per equity share). Further the Company allotted 1.736 mn
warrants convertible into equity shares of face value of Rs. 10/- each aggregating to Rs. 2.5 bn on a preferential basis to
Shriram Capital Limited, for cash at a price of Rs. 1,440/- per equity share (including a premium of Rs. 1,430/- per
equity share) and had received the warrant subscription money of Rs. 0.62 bn, being 25% of the Issue price i.e. Rs.
360/- per Warrant.
3. On June 12, 2021, allotted 13.986 mn equity shares of face value of Rs. 10/- each aggregating to Rs. 19.99 bn to the
eligible Qualified Institutional Buyers (QIB) for cash at a price of Rs. 1,430/- per equity share (including a premium of
Rs. 1,420/- per equity share).
33
Subsidiary

For any Investor Relations

Shriram Housing Finance Limited
queries please contact

(SHFL)

34
AUM Break-up
Particulars (Rs. mn) Q3 FY24 Q2 FY24 Q1 FY24 Q3 FY23 YoY (%) QoQ (%) FY23
Loan Portfolio
- On Books
Balance sheet assets 87,822.7 82,761.1 73,901.7 57,518.1 52.69% 6.12% 63,636.3
Securitised assets 8,913.4 6,947.0 6,027.4 2,864.7 211.15% 28.30% 3,700.1
Total On books 96,736.1
For89,708.1
any Investor
79,929.1
Relations
60,382.8 60.20% 7.83% 67,336.4
- Off Books** 23,515.3 queries
18,452.1 please
15,462.9 contact106.30%
11,398.8 27.44% 13,129.6
Total AUM 120,251.4 108,160.3 95,392.0 71,781.6 67.52% 11.18% 80,466.0

**Off Books pertains to Direct assignment portfolio & Colending

35
Assets under Management

Segment (Rs. mn) Q3FY24 Q2 FY24 Q1 FY23 Q3 FY23 YoY (%) QoQ (%) FY23

HL 66,580.3 60,515.4 54,615.6 42,520.2 56.58% 10.02% 47,487.5

LAP 43,612.8 38,428.7 32,101.6 20,412.7 113.65% 13.49% 24,153.4
MLAP 298.8 74.5 1.7 - - 301.23% -
Top up 5,937.7 5,291.1 4,619.4 3,475.2 70.86% 12.22% 4,082.9
CF 2,996.7 2,951.6 3,238.3 4,113.2 -27.15% 1.53% 3,856.5
CL 825.2 899.0 815.4 1,260.2 -34.52% -8.22% 885.7
Total AUM 120,251.4 108,160.3 95,392.0 71,781.6 67.52% 11.18% 80,466.0

36
 P & L Statement
Particulars (Rs. mn) Q3 FY24 Q2 FY24 Q1 FY24 Q3 FY23 YoY (%) QoQ (%) 9M FY24 9M FY23 YoY (%) FY23
Interest income 2,999.5 2,734.4 2,310.6 1,802.3 66.43% 9.69% 8,044.5 4,738.0 69.79% 6,611.0
Interest expended 1,963.8 1,760.1 1,457.9 1,026.1 91.38% 11.57% 5,181.8 2,716.0 90.79% 3,922.8
Net interest income 1,035.7 974.3 852.7 776.2 33.44% 6.30% 2,862.7 2,022.0 41.58% 2,688.2
Other Operating Income 874.4 668.4 645.3 313.3 179.09% 30.82% 2,188.2 862.3 153.75% 1,216.7
Operating income 1,910.2 1,642.8 1,498.0 1,089.5 75.32% 16.28% 5,050.9 2,884.3 75.12% 3,905.0
Staff cost 671.1 611.5 570.3 319.8 109.81% 9.75% 1,852.8 794.8 133.13% 1,205.2
Other Operating expenditure 327.1 280.2 227.7 170.0 92.41% 16.72% 835.0 555.9 50.20% 815.5
Operating expenditure 998.1 891.7 797.9 489.8 103.77% 11.94% 2,687.8 1,350.6 99.00% 2,020.7
Core operating profit 912.0 751.1 700.1 599.7 52.09% 21.43% 2,363.2 1,533.7 54.09% 1,884.3
Other income 1.5 3.7 0.9 1.0 57.76% -59.51% 6.1 5.5 11.48% 10.3
Operating profit 913.5 754.8 701.0 600.6 52.10% 21.03% 2,369.3 1,539.2 53.93% 1,894.6
Loan Losses & Provisions 93.8 115.0 95.7 110.4 -15.02% -18.43% 304.6 187.7 62.23% 195.0
Profit before tax 819.7 639.8 605.2 490.2 67.21% 28.12% 2,064.7 1,351.4 52.78% 1,699.6
Tax Expense 204.5 157.6 148.9 126.4 61.82% 29.82% 511.0 345.3 47.99% 322.1
Profit after tax 615.2 482.2 456.4 363.8 69.08% 27.57% 1,553.8 1,006.2 54.42% 1,377.5
Other comprehensive Income (Net) 16.2 (4.9) (2.7) (3.5) 564.93% 434.38% 8.7 (6.0) 243.49% (4.0)
Total Comprehensive Income 631.4 477.4 453.7 360.3 75.22% 32.26% 1,562.4 1,000.1 56.22% 1,373.5
EPS (Rs) 1.88 1.48 1.40 1.12 67.83% 27.14% 4.74 3.09 53.28% 4.23 37
Summarized Balance Sheet
Particulars (Rs. mn) Dec-23 Sep-23 Jun-23 Dec-22 YoY(%) QoQ (%) Mar-23
I. Assets
Financial Assets
a) Cash and bank balances 5,607.9 4,836.2 3,387.8 1,388.8 303.78% 15.96% 4,895.4
b) Loans 95,962.8 89,008.0 79,328.1 59,812.4 60.44% 7.81% 66,813.5
c) Investments 2,532.3 2,537.7 4,258.5 2,921.5 -13.32% -0.21% 2,568.8
d) Other-financial assets 2,750.0 2,321.5 2,069.4 1,824.4 50.73% 18.46% 1,800.7
Non-financial assets 2,105.6 1,738.8 1,543.6 1,609.2 30.85% 21.10% 1,348.2
Total Assets 108,958.6 100,442.2 90,587.3 67,556.3 61.29% 8.48% 77,426.7

II. Liabilities and Equity

Financial Liabilities
a) Debts 91,935.0 84,379.6 75,367.6 53,513.7 71.80% 8.95% 62,960.6
b) Other financial liabilities 1,782.0 1,550.4 1,269.4 973.4 83.08% 14.94% 1,117.1
Non-financial Liabilities 594.3 500.5 497.7 473.5 25.51% 18.75% 357.1
Total Equity 14,647.3 14,011.7 13,452.6 12,595.8 16.29% 4.54% 12,991.9

Total Liabilities and Equity 108,958.6 100,442.2 90,587.3 67,556.3 61.29% 8.48% 77,426.7
38
Provision Analysis
Particulars (Rs. in mn) Q3 FY24 Q2 FY24 Q1 FY24 Q3 FY23 YoY (%) QoQ (%) FY23
Gross Stage 3 975.0 969.1 798.0 696.4 40.00% 0.61% 624.3
ECL provision-Stage 3 248.8 230.7 197.5 169.8 46.56% 7.87% 158.8
Net Stage 3 726.2 738.5 600.5 526.6 37.89% -1.66% 465.5
Gross Stage 3 (%) 1.01% 1.08% 1.00% 1.15% -12.61% -6.70% 0.93%
Net Stage 3 (%) 0.75% 0.82% 0.75% 0.87% -13.95% -7.69% 0.69%
Coverage Ratio (%) Stage 3 25.52% 23.80% 24.75% 24.38% 4.68% 7.22% 25.44%
Gross Stage 2 1,423.8 1,071.9 1,020.9 747.2 90.55% 32.83% 997.0
ECL provision-Stage 2 118.9 78.1 35.4 22.8 421.23% 52.20% 42.7
Net Stage 2 1,304.8 993.7 985.4 724.4 80.14% 31.31% 954.3
Gross Stage 2 (%) 1.47% 1.19% 1.28% 1.24% 18.94% 23.18% 1.48%
ECL provision (%) Stage 2 8.35% 7.29% 3.47% 3.05% 173.54% 14.58% 4.28%
Gross Stage 1 94,337.3 87,667.1 78,110.2 58,939.2 60.06% 7.61% 65,715.1
ECL provision-Stage 1 405.5 391.4 368.1 377.8 7.34% 3.62% 321.4
Net Stage 1 93,931.8 87,275.8 77,742.1 58,561.5 60.40% 7.63% 65,393.7
Gross Stage 1 (%) 97.52% 97.72% 97.72% 97.61% -0.09% -0.21% 97.59%
ECL provision (%) Stage 1 0.43% 0.45% 0.47% 0.64% -32.93% -3.71% 0.49% 39
Key Metrics
P&L Metrics (Rs. mn) Q3 FY24 Q2 FY24 Q1 FY24 Q3 FY23 YoY (%) QoQ (%) 9M FY24 9M FY23 YoY (%) FY23
Interest Income 2,999.5 2,734.4 2,310.6 1,802.3 66.43% 9.69% 8,044.5 4,738.0 69.79% 6,611.0
Less: Interest Expenses 1,963.8 1,760.1 1,457.9 1,026.1 91.38% 11.57% 5,181.8 2,716.0 90.79% 3,922.8
Net Interest Income 1,035.7 974.3 852.7 776.2 33.44% 6.30% 2,862.7 2,022.0 41.58% 2,688.2
Other Operating Income & Other Income 876.0 672.2 646.2 314.3 178.72% 30.32% 2,194.4 867.8 152.85% 1,227.1
Profit After Tax 615.2 482.2 456.4 363.8 69.08% 27.57% 1,553.8 1,006.2 54.42% 1,377.5
EPS (Rs.) 1.88 1.48 1.40 1.12 67.83% 27.14% 4.74 3.09 53.28% 4.23
Cost to income Ratio (%) 52.21% 54.16% 53.23% 44.92% 16.24% -3.59% 53.15% 46.74% 13.72% 51.61%
NIM 8.20% 7.75% 8.14% 7.49% 9.46% 5.80% 7.79% 7.14% 9.13% 6.91%

Balance Sheet Metrics (Rs. mn) Q3 FY24 Q2 FY24 Q1 FY24 Q3 FY23 YoY (%) QoQ (%) 9M FY24 9M FY23 YoY (%) FY23
Networth 14,647.3 14,011.7 13,452.6 12,595.8 16.29% 4.54% 14,647.3 12,595.8 16.29% 12,991.9
Book Value (Rs.) 44.4 42.65 41.23 38.65 14.81% 4.05% 44.37 38.65 14.81% 39.85
Interest Coverage (x) 1.42 1.36 1.42 1.48 -4.08% 3.95% 1.40 1.50 -6.62% 1.43
ROA (%) 2.35% 2.02% 2.17% 2.23% 5.55% 16.38% 2.11% 2.17% -2.84% 2.13%
ROE (%) 17.17% 14.05% 13.81% 11.73% 46.44% 22.25% 15.00% 11.10% 35.07% 11.21%
Total CRAR % 20.11% 21.63% 22.16% 25.44% -20.93% -7.01% 20.11% 25.44% -20.93% 25.48%

40
Associate

Shriram Automall India Limited

(SAMIL)

41
Associate
 Shriram Automall India Limited (SAMIL), an ISO 9001:2015 certified company, is India's Largest Phygital
Pre-owned Marketplace connecting pre-owned vehicles and equipment buyers and sellers.
 SAMIL began its journey in 2011 by setting up India's first professionally managed and organized Auction
Platform for buying and selling pre-owned cars, commercial vehicles, construction equipment, farm
equipment, three-wheelers, two-wheelers, etc.
 Backed by CarTrade Tech Limited and Shriram Finance, SAMIL has over 1,500 employees and more than
120 Automalls across India. SAMIL conducts thousands of auction events every month through its Phygital
platforms (Automalls) and online platforms cartradeexchange.com and bids.samil.in.
 SAMIL also provides vehicle inspection and valuation services through Adroit Auto, innovative car buying and
selling experience through BlueJack, and industrial auction of properties, plant and machinery, commodities,
and scrap, salvage and surplus assets through 123done.in.

For more information about Shriram Automall, its group companies, and services, visit www.samil.in

Revenue from operation earned Rs 498.2 million in Q3 FY 24 as against Rs.591.2 million in Q3 FY 23

Profit after Tax (PAT): Q3 FY24 Rs.27.3 million, Q3 FY23 Rs. 34.2 million, FY 23 Rs. 192.0 million.

Share of Profit of Associate: Q3 FY24 Rs. 12.3 million, Q3 FY23 Rs. 15.2 million
42
Share of Profit of Associate for 9M FY24 Rs. 48.3 million, 9M FY23: 54.2 million, FY23: Rs. 85.6 million
Consolidated Numbers

43
Financial Performance (Consolidated)
Particulars (Rs. mn) Q3 FY24 Q2 FY24 Q1 FY24 Q3 FY23* YoY (%) QoQ (%) 9M FY24 9M FY23 YoY (%) FY23
Interest income 92,222.0 88,087.8 82,446.1 77,563.2 18.90% 4.69% 262,755.9 224,124.2 17.24% 303,440.0
Interest expended 39,472.9 38,394.9 36,645.9 32,449.7 21.64% 2.81% 114,513.7 96,786.1 18.32% 130,714.9
Net interest income 52,749.1 49,692.9 45,800.2 45,113.5 16.93% 6.15% 148,242.2 127,338.1 16.42% 172,725.1
Staff cost 8,770.1 8,515.3 8,474.2 6,735.7 30.20% 2.99% 25,759.6 18,948.7 35.94% 26,364.5
Other Operating expenditure 7,086.7 6,563.5 5,931.1 5,445.7 30.13% 7.97% 19,581.3 15,990.0 22.46% 24,097.0
Operating expenditure 15,856.8 15,078.8 14,405.3 12,181.4 30.17% 5.16% 45,340.9 34,938.7 29.77% 50,461.5
Core operating profit 36,892.3 34,614.1 31,394.9 32,932.1 12.03% 6.58% 102,901.3 92,399.4 11.37% 122,263.6
Other income 824.5 828.1 492.5 409.1 101.54% -0.43% 2,145.1 1,067.2 101.00% 1,564.2
Operating profit 37,716.8 35,442.2 31,887.4 33,341.2 13.12% 6.42% 105,046.4 93,466.6 12.39% 123,827.8
Loan Losses & Provisions 12,590.8 11,400.6 8,881.8 9,186.6 37.06% 10.44% 32,873.2 29,836.8 10.18% 41,690.6
Profit before tax 25,126.0 24,041.6 23,005.6 24,154.6 4.02% 4.51% 72,173.2 63,629.8 13.43% 82,137.2
Tax Expense 6,402.3 6,148.9 5,894.2 6,153.2 4.05% 4.12% 18,445.4 16,365.5 12.71% 22,022.5
Profit after tax 18,723.71 17,892.7 17,111.4 18,001.4 4.01% 4.64% 53,727.8 47,264.3 13.68% 60,114.7
Share of Profit/(loss) of associate 12.2 25.6 10.5 15.2 -19.74% -52.34% 48.3 54.2 -10.89% 85.6
Net Profit after taxes and share of
18,735.9 17,918.3 17,121.9 18,016.6 3.99% 4.56% 53,776.1 47,318.5 13.65% 60,200.3
profit/(loss) of associate
Other comprehensive Income (Net) (498.3) 985.9 (771.3) (209.4) 137.97% -150.54% (283.6) (1,438.9) -80.29% (264.8)
Total Comprehensive Income 18,237.6 18,904.2 16,350.6 17,807.2 2.42% -3.53% 53,492.5 45,879.6 16.59% 59,935.5
EPS (Rs) 49.70 47.61 45.53 48.27 2.96% 4.39% 142.84 126.53 12.89% 160.54
44
Summarized Balance Sheet (Consolidated)
Particulars (Rs. Mn) Dec-23 Sep-23 Jun-23 Dec-22 YoY (%) QoQ (%) Mar-23
I. Assets
Financial Assets
a) Cash and bank balances 131,636.7 111,592.9 153,431.8 168,826.0 -22.03% 17.96% 163,069.5
b) Loans 2,074,769.9 1,960,676.9 1,867,850.4 1,710,557.8 21.29% 5.82% 1,786,851.4
c) Investments 82,002.5 79,168.5 73,688.7 82,567.6 -0.68% 3.58% 74,300.7
d) Other-financial assets 9,468.6 9,425.4 11,499.4 11,639.5 -18.65% 0.46% 11,935.3
Non-financial assets
a) Goodwill 17,409.4 17,409.4 17,409.4 17,421.5 -0.07% 0.00% 17,409.4
b) Other non-financial assets 57,526.2 55,336.5 53,240.7 52,149.8 10.31% 3.96% 52,160.6

Total Assets 2,372,813.3 2,233,609.6 2,177,120.4 2,043,162.2 16.13% 6.23% 2,105,726.9

II. Liabilities and Equity

Financial Liabilities
a) Debts 1,866,636.9 1,737,823.1 1,694,831.8 1,586,879.1 17.63% 7.41% 1,642,022.4
b) Other financial liabilities 23,420.3 23,361.7 20,703.2 19,255.4 21.63% 0.25% 19,905.4
Non-financial Liabilities 5,851.4 6,291.3 7,023.0 7,663.5 -23.65% -6.99% 5,803.7
Equity 473,704.4 463,066.3 451,627.1 426,532.8 11.06% 2.30% 435,128.6
Non-controlling interest 3,200.3 3,067.2 2,935.3 2,831.4 13.03% 4.34% 2,866.8
Total Liabilities and Equity 2,372,813.3 2,233,609.6 2,177,120.4 2,043,162.2 16.13% 6.23% 2,105,726.9
45
Contact Us

For any Investor Relations

queries please contact
Sanjay K. Mundra
Shriram Finance Limited
Email: [email protected]
Tel. No. +91-22-4095 9507

46
About Us
About Shriram Finance Ltd.
Shriram Finance Limited is the flagship company of the Shriram group which has significant presence in Consumer Finance, Life Insurance,
General Insurance, Housing Finance, Stock Broking and Distribution businesses. Shriram Finance Limited is one of India’s largest retail
asset financing Non-Banking Finance Company (NBFC) with Assets under Management (AUM) above Rs 2.14 trillion. Recently Shriram City
Union Finance Limited and Shriram Capital Limited merged with Shriram Transport Finance Company Limited and was subsequently
renamed as Shriram Finance Limited. Established in 1979, Shriram Finance is holistic finance provider catering to the needs of Small Road
Transport Operators and small business owners and is a leader in organised financing of pre-owned commercial vehicles and two wheelers.
It has vertically integrated business model and offers financing number of products which include passenger commercial vehicles, loans to
micro and small and medium enterprises (MSMEs), tractors, gold, personal loans and working capital loans etc. Over last 45 years, it has
developed strong competencies in the areas of Loan origination, valuation of pre-owned commercial vehicles and other assets, and
collections. It has a pan india presence with network of 3,037 branches and an employee strength of 73,485 servicing over 8.22 million
customers.

Forward Looking Statement

Certain statements in this document with words or phrases such as “will”, “should”, etc., and similar expressions or variation of these
expressions or those concerning our future prospects are forward looking statements. Actual results may differ materially from those
suggested by the forward looking statements due to a number of risks or uncertainties associated with the expectations. These risks and
uncertainties include, but are not limited to, our ability to successfully implement our strategy and changes in government policies. The
company may, from time to time, make additional written and oral forward looking statements, including statements contained in the
company’s filings with the stock exchanges and our reports to shareholders. The company does not undertake to update any forward-looking
statements that may be made from time to time by or on behalf of the company.
47
Thank You

48