Shriram Finance Ltd.PAT +59% to ₹3,677 Cr, NIM 9.52%, AUM guide cut

Shriram Finance's Q2 FY27 call, held on 23 October 2026, reported profit after tax of ₹3,677 crore, up 59.37%, net interest income up 38.2% to ₹8,661 crore and a net interest margin of 9.52%, lifted temporarily by fresh capital.

Assets under management rose 16.96% to ₹3.29 lakh crore and disbursements rose 25.71%. Management cut its full-year AUM growth guide to 15% to 17% from 18% because of the West Asia war and a weak monsoon. Credit cost was 2.03% and stage 3 loans were flat at 4.65%, but stage 2 and 3 loans rose in construction equipment, gold and MSME, which management called seasonal and tied to drought-hit Maharashtra, Karnataka and Telangana.

It kept its 2% credit cost guide, with a temporary rise of 30 to 40 basis points for one or two quarters. Margin is expected to ease to about 9% in the medium term and 8.5% in the long term. A draft insurance distribution rule could cost about ₹100 crore of commission. Of 14 earlier promises, nine are met, exceeded or on track, one was missed, one is partly met, one is not yet visible and two were not mentioned.