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Shriram Finance Q2 FY27 results: net profit up 59.2% to ₹3,684 crore, revenue up 15.8%
Shriram Finance Limited reported consolidated Q2 FY27 revenue of ₹13,792 crore, up 15.8% from a year earlier. Net profit rose 59.2% to ₹3,684 crore, while basic EPS increased 27.3% to ₹15.66; on the standalone basis, revenue was ₹13,789 crore and net profit was ₹3,677 crore.
Key points
- Consolidated Q2 FY27 revenue rose 15.8% to ₹13,792 crore from ₹11,912 crore in Q2 FY26.
- Net profit increased 59.2% to ₹3,684 crore, while profit before tax rose 58.4% to ₹4,932 crore.
- Basic EPS rose 27.3% to ₹15.66 from ₹12.3 in the year-ago quarter.
- Profit margin increased 7.3 percentage points to 26.7% from 19.4% in Q2 FY26.
- The board declared an interim dividend of 325%, or Rs.6.50 per equity share, for FY27.
How did Shriram Finance perform in Q2 FY27?
Shriram Finance reported consolidated revenue of ₹13,792 crore in Q2 FY27, up 15.8% from ₹11,912 crore in Q2 FY26 and 2.9% from ₹13,400 crore in Q1 FY27. Profit before tax was ₹4,932 crore, up 58.4% year on year and 6.6% sequentially. Net profit rose 59.2% to ₹3,684 crore from ₹2,314 crore a year earlier and 6.7% from ₹3,453 crore in the previous quarter.
Basic EPS increased to ₹15.66 from ₹12.3 in Q2 FY26 and ₹14.86 in Q1 FY27. Net profit margin was 26.7%, compared with 19.4% a year earlier and 25.8% in the previous quarter. EBITDA and EBITDA margin were not reported. On the standalone basis, revenue was ₹13,789 crore, up 15.8%, while net profit was ₹3,677 crore against ₹2,307.18 crore in the year-ago period.
| ₹ crore | Q2 FY27 | Q1 FY27 | Q2 FY26 | YoY | QoQ |
|---|---|---|---|---|---|
| Revenue from operations | 13,792 | 13,400 | 11,912 | +15.8% | +2.9% |
| Other income | 9.36 | 18.31 | 8.89 | +5.3% | −48.9% |
| Total expenses | 8,870 | 8,793 | 8,808 | +0.7% | +0.9% |
| Profit before tax | 4,932 | 4,626 | 3,113 | +58.4% | +6.6% |
| Tax | 1,255 | 1,178 | 803.16 | +56.3% | +6.5% |
| Net profit | 3,684 | 3,453 | 2,314 | +59.2% | +6.7% |
| EPS (₹) | 15.66 | 14.86 | 12.30 | +27.3% | +5.4% |
EBITDA here is revenue from operations less operating costs (total expenses excluding finance costs and depreciation): before other income and exceptional items. Growth is shown only when both figures are positive. Source: Company's results filing (XBRL).
What changed in Shriram Finance's costs and profit?
Total expenses were ₹8,870 crore in Q2 FY27, up ₹61.13 crore or 0.7% from ₹8,808 crore in Q2 FY26, while revenue increased ₹1,880 crore or 15.8%. Finance costs fell ₹559.93 crore or 10.1% to ₹4,965 crore, partly offset by employee cost rising ₹140.15 crore or 14.8% to ₹1,085 crore. Depreciation increased ₹5.42 crore to ₹179.92 crore and other expenses rose ₹7.31 crore to ₹670.81 crore.
Other income increased ₹0.47 crore or 5.3% to ₹9.36 crore, and there was no exceptional item. Profit before tax rose ₹1,819 crore to ₹4,932 crore. Tax expense increased ₹451.84 crore or 56.3% to ₹1,255 crore, while net profit rose ₹1,370 crore or 59.2% to ₹3,684 crore, taking the profit margin up 7.3 percentage points to 26.7%.
| ₹ crore | Q2 FY27 | Q2 FY26 | Change | Change % |
|---|---|---|---|---|
| Employee cost | 1,085 | 945.33 | +140.15 | +14.8% |
| Finance costs | 4,965 | 5,525 | −559.93 | −10.1% |
| Depreciation | 179.92 | 174.50 | +5.42 | +3.1% |
| Other expenses | 670.81 | 663.50 | +7.31 | +1.1% |
| Total expenses | 8,870 | 8,808 | +61.13 | +0.7% |
| Other income | 9.36 | 8.89 | +0.47 | +5.3% |
| Tax | 1,255 | 803.16 | +451.84 | +56.3% |
Source: Company's results filing (XBRL).
How did the first half of FY27 go?
In H1 FY27, consolidated revenue was ₹27,193 crore, up 16.0% from ₹23,449 crore in H1 FY26, while total income increased 16.0% to ₹27,221 crore from ₹23,464 crore. Profit before tax rose 58.8% to ₹9,558 crore, compared with ₹6,019 crore in the year-earlier period.
H1 FY27 net profit was ₹7,137 crore, up 59.5% from ₹4,474 crore in H1 FY26. Basic EPS increased 28.3% to ₹30.52 from ₹23.79. The half-year results were reported on both consolidated and standalone bases, with the consolidated figures used above.
| ₹ crore | H1 FY27 | H1 FY26 | Change |
|---|---|---|---|
| Revenue from operations | 27,193 | 23,449 | +16.0% |
| Profit before tax | 9,558 | 6,019 | +58.8% |
| Net profit | 7,137 | 4,474 | +59.5% |
| EPS (₹) | 30.52 | 23.79 | +28.3% |
Source: Company's results filing (XBRL).
What do the balance sheet and cash flow show?
Total assets increased to ₹354,762 crore at 30 September 2026 from ₹321,375 crore at 31 March 2026. Total equity rose to ₹111,434 crore from ₹65,919 crore, while cash and cash equivalents declined to ₹5,043 crore from ₹5,746 crore. Borrowings were not provided in the available figures.
Operating cash flow for H1 FY27 was an outflow of ₹23,030 crore, compared with an outflow of ₹4,198 crore in H1 FY26. Investing cash flow was an outflow of ₹103 crore against ₹160 crore, while financing cash flow was an inflow of ₹22,432 crore against an outflow of ₹3,623 crore. Capital expenditure was ₹111 crore, compared with ₹106.6 crore.
| ₹ crore | As of 30 September 2026 | As of 31 March 2026 |
|---|---|---|
| Total assets | 3,54,762 | 3,21,375 |
| Total equity | 1,11,434 | 65,919 |
| Cash and equivalents | 5,043 | 5,746 |
| Inventories | 0 | 0 |
Source: Company's results filing (XBRL).
| ₹ crore | H1 FY27 | H1 FY26 |
|---|---|---|
| Cash from operations | −23,030 | −4,198 |
| Cash from investing | −102.97 | −159.89 |
| Cash from financing | 22,432 | −3,623 |
| Capital expenditure | 111.13 | 106.60 |
Source: Company's results filing (XBRL).
How has Shriram Finance done over the last 8 quarters?
Revenue has increased in each of the last eight quarters on a year-on-year basis, rising from ₹10,698 crore in Q3 FY25 to ₹13,792 crore in Q2 FY27. Net profit has increased year on year for each of the last three quarters, reaching ₹3,684 crore in Q2 FY27 from ₹2,314 crore in Q2 FY26. EBITDA margin was not provided for the quarterly trend.
What else did the company announce?
The board approved and took on record the unaudited standalone and consolidated results for the second quarter and half-year ended 30 September 2026. It declared an interim dividend of 325%, or Rs.6.50 per equity share of face value Rs.2 each fully paid up, for FY27. The record date was 29 October 2026, and the payout was to be made to eligible members before 20 November 2026.
The board also approved a resource mobilisation plan for issuing NCDs, subordinated debentures, bonds or notes from 1 November 2026 to 31 January 2027. It sought shareholder approval through a postal ballot for renewing the limit to issue debentures on private placement up to Rs.35,000 crore. In addition, Panakala Raju M was appointed Chief Software Officer and Senior Management Person with effect from 23 October 2026.
What did Shriram Finance's management say?
Management lowered FY27 AUM growth guidance to 15–17% from 18%, reflecting caution on growth amid monsoon and geopolitical uncertainty. It kept full-year credit cost guidance at 2%, although it noted a temporary 30–40 bps elevation in select geographies or products for one or two quarters. Management also identified MSME expansion beyond the southern footprint and gold-loan growth as strategic priorities.
Management expects NIM to remain near current levels for one or two quarters before moving toward approximately 9% medium term and 8.5% long term. It said incremental cost of funds was approximately 8%, potentially rising toward 8.35%, while the liability-book cost was expected to remain stable near 8.4%. Medium- to long-term cost-to-income guidance was around 25%, and the gold-loan book was targeted to double from roughly 2.5% to roughly 5% of total AUM over three years.
How did Shriram Finance shares react?
The stock fell 4.5% within 5 minutes of the filing appearing, 3.0% after 15 minutes and 1.9% after 30 minutes. On the reaction day, it closed 4.0% below the pre-results close of ₹900.9. By the next day's close, the stock was 8.4% below that level, and by the fifth session it was 8.6% below it.
The NBFC sector's median move was 1.5% lower on the reaction day, compared with the Nifty 100 at 0.7% lower. Shriram Finance therefore underperformed the sector median by 2.5 percentage points on the reaction day and by 6.6 percentage points by the next day's close. Earlier results-day moves included falls of 2.0% on 24 July 2026 and 3.6% on 25 July 2025, and a rise of 1.9% on 31 October 2025.
| After the filing | Stock | Non Banking Financial Company (NBFC) median |
|---|---|---|
| 5 minutes | −4.5% | |
| 15 minutes | −3.0% | |
| 30 minutes | −1.9% | |
| Reaction day | −4.0% | −1.5% |
| Next day | −8.4% | −1.8% |
| 5 days | −8.6% | −0.7% |
Minutes are measured from the price when the filing appeared; days from the previous close. Source: MarketPing price-reaction measurement.
| Results filed on | Stock on the reaction day |
|---|---|
| 24 July 2026 | −2.0% |
| 24 April 2026 | +0.6% |
| 23 January 2026 | −0.2% |
| 31 October 2025 | +1.9% |
| 25 July 2025 | −3.6% |
| 25 April 2025 | −2.9% |
| 24 January 2025 | −1.2% |
| 25 October 2024 | +4.5% |
Source: MarketPing price-reaction measurement.
How did other Non Banking Financial Company (NBFC) companies do?
A total of 77 NBFC peers were compared for revenue growth, with a median revenue growth of 21.6%. Among the peers for which revenue growth was classified, 32 grew more slowly than Shriram Finance and 45 grew faster. The figures are based on peer filings available as of 4 November 2026.
Profit rose for 56 of the 85 peers compared on profit. Shriram Finance's consolidated revenue growth of 15.8% was below the peer median of 21.6%.
| Shriram Finance revenue growth (YoY) | +15.8% |
|---|---|
| Median of 77 other Non Banking Financial Company (NBFC) companies | +21.6% |
| Companies with slower revenue growth than Shriram Finance | 32 of 77 |
| Companies with faster revenue growth than Shriram Finance | 45 of 77 |
| Companies whose net profit rose | 56 of 85 |
Source: Filed results (XBRL) of the industry's companies.
Quick answers
What was Shriram Finance's revenue in Q2 FY27?
Revenue from operations was ₹13,792 crore, up 15.8% from ₹11,912 crore in Q2 FY26 (consolidated).
Did Shriram Finance make a profit in Q2 FY27?
Yes. Net profit was ₹3,684 crore, against a net profit of ₹2,314 crore in Q2 FY26.
What was Shriram Finance's EPS in Q2 FY27?
Basic earnings per share were ₹15.66, against ₹12.30 in Q2 FY26.
How did Shriram Finance shares react to the Q2 FY27 results?
On the reaction day the stock moved −4.0% from the previous close; the median Non Banking Financial Company (NBFC) stock moved −1.5%.
When did Shriram Finance announce its Q2 FY27 results?
On 23 October 2026, in a filing to the NSE.
Sources
- Board Meeting Intimation for Approval Of Unaudited Standalone And Consolidated Financial Results For The Second Quarter And Half-Year Ended September 30, 2026 (BSE, 16 October 2026) · PDF
- Outcome of Board Meeting (NSE, 23 October 2026) · PDF
- The earnings call (27 October 2026)
How this was written: every figure in the tables and charts is calculated from the company’s filed results (XBRL) and MarketPing’s price measurements. The text is drafted with AI from those figures and the filings, and a checker removes any sentence carrying a number it cannot trace to them. How we write these.
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