Shriram Finance shares down 1.16% as Nifty drops

NEW DELHI: Shares of Shriram Finance Ltd. traded 1.16 per cent down in Thursday's trade at 11:23AM (IST). Around 83,007 shares changed hands on the counter.

The counter opened at Rs 1764.0 and touched an intraday high and low of Rs 1764.0 and Rs 1707.8, respectively, in the session so far. The stock of Shriram Finance Ltd. quoted a 52-week high of Rs 1764.45 and a 52-week low of Rs 1147.05.

Total market cap of the Shriram Finance Ltd. stood at Rs 64214.28 crore at the time of writing this report.

Key Financials
The company reported consolidated sales of Rs 7979.75 crore for the quarter ended 31-Mar-2023, up 2.18 per cent from previous quarter's Rs 7809.39 crore and up 56.85 per cent from the year-ago quarter's Rs 5087.59 crore.

The net profit for latest quarter stood at Rs 1285.19 crore, up 17.77 per cent from the same quarter a year ago.

Shareholding pattern
As of 31-Mar-2023, domestic institutional investors held 6.04 per cent stake in the company, while foreign institutional investors held 49.78 per cent and the promoters 25.51 per cent.


Valuation ratio
According to BSE data, the stock traded at a price-to-earnings multiple of 12.54 and a price-to-book ratio of 1.08. A higher P/E ratio shows investors are willing to pay a higher price because of better future growth expectations. Price-to-book value indicates the inherent value of a company and is the measure of the price that investors are ready to pay even for no growth in the business.

Shriram Finance Ltd. belongs to the NBFC - Diversified industry.