On October 18, Shriram Finance reversed its initial losses to increase by nearly 4% after announcing that its board will convene on October 25 to discuss an interim dividend and a potential stock split.
Share Performance
- The stock opened lower at ₹3,223.80, compared to the previous close of ₹3,254.95.
- It quickly recovered, peaking at ₹3,372.60, reflecting a rise of 3.61%.
- By 2:25 PM, the stock was trading at ₹3,368, up 3.47%.
Key Announcements
In an exchange filing, Shriram Finance stated that the board will consider altering the company’s share capital by splitting existing equity shares with a face value of ₹10 each, pending approval from shareholders.
Regarding the interim dividend, the company set November 7 as the record date for the payment, contingent on board approval.
Financial Performance Overview
In Q1 FY25, Shriram Finance reported:
- Net Profit: ₹2,030.64 crore, up 18.62% YoY from ₹1,712.19 crore.
- Net Interest Income (NII): Grew 21% YoY to ₹5,554.87 crore, compared to ₹4,580 crore in the same period last year.
- Total Assets Under Management (AUM): Increased by 21% to ₹2,33,443.63 crore, from ₹1,93,214.67 crore YoY.
- Consolidated Basic EPS: Rose by 18.21% to ₹53.82, up from ₹45.53 YoY.
Current Share Price Snapshot
- Current Price: ₹3,350.00 (up 2.80% as of 3:30 PM IST)
- Market Cap: ₹1.26 lakh crore
- P/E Ratio: 16.41
- Dividend Yield: 1.34%
- 52-Week High: ₹3,652.25
- 52-Week Low: ₹1,760.85
With this positive momentum and significant financial growth, Shriram Finance appears well-positioned ahead of the upcoming board meeting, with potential implications for its stock value in the near future.
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