Shriram Finance Q3 FY26 Earnings Call Transcript Released
Shriram Finance released its Q3 FY26 earnings call transcript. Key highlights include 14.17% YoY disbursement growth to ₹48,645 crore and 14.63% AUM growth to ₹2,91,709 crore. PAT rose 21.21% to ₹2,521.67 crore. NIMs were stable at 8.58%. The company expects continued margin stability and improved ROE/ROA, with a cautious outlook on HCV sales.
The announcement provides detailed financial results, operational performance, and management outlook, which are crucial for investor decision-making and directly impact the company's valuation and stock performance.
The company reported strong financial results with significant growth in disbursements, AUM, and PAT. Positive economic indicators and credit rating upgrades further contribute to a positive sentiment.
Shriram Finance Limited has released the transcript of its investor earnings call for the third quarter and nine months ended December 31, 2025. The call, held on January 23, 2026, featured insights from Executive Vice Chairman Mr. Umesh Revankar, Managing Director and CEO Mr. Parag Sharma, and Joint Managing Director and CFO Mr. S. Sunder.
During the call, management highlighted positive economic indicators for India, including a GDP growth of 8.2% and controlled inflation. They discussed the RBI's repo rate cut to 5.25% and an upward revision of the GDP forecast to 7.3%. The rural economy showed strength, with good traction in agri output, consumption, and credit demand.
Operational performance for Q3 FY26 showed a disbursement growth of 14.17% year-on-year, reaching ₹48,645 crore. Assets under management grew by 14.63% year-on-year to ₹2,91,709.03 crore. Net interest income increased by 16.17% to ₹6,764.09 crore, with net interest margins at 8.58%. Profit after tax (PAT) grew by 21.21% to ₹2,521.67 crore, excluding a one-time gain from the sale of Shriram Housing Finance.
Asset quality improved, with Gross Stage 3 at 4.54% and Net Stage 3 at 2.38%. Credit cost on total assets was 1.62%. The cost-to-income ratio stood at 29.66%, with an incremental impact from gratuity and long-term compensation expenses due to the new labor code. Liabilities cost decreased by 14 basis points to 8.69%. The company also saw rating upgrades from CARE, with positive outlooks from CRISIL and ICRA, and an upgrade by S&P to BBB-.
Discussions also covered customer retention strategies, potential product expansion into larger MSME enterprises through secured lending, and maintaining net interest margins. The management expressed confidence in sustaining margins around 8.5% and expected ROE and ROA to improve. They also noted strong demand in LCV and SCV segments, while maintaining a cautious outlook on new HCV sales pending increased infrastructure spending. The company plans to increase farm equipment lending to 5% of AUM.
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