The Dividend Delight: SHRIRAM FINANCE has recently announced a dividend of ₹20 per share. The ex-date set by the company is November 6, meaning shareholders should possess the shares in their accounts by this date to qualify for the dividend. Post this date, the company will commence the process of depositing the dividend amount into the respective accounts.
Quarterly Results Overview:
Comparing the financial results from July-September quarter of the fiscal year 2022-23 to the same period in 2023-24, some significant advancements are evident:
- Profit Jump: The company’s profit escalated from ₹1,555.1 crores in 2022-23 to a notable ₹1,751 crores in 2023-24. This marks a substantial growth year-on-year, showcasing a strong financial standing.
- Interest Income Rise: The interest income for the company has also witnessed a significant upturn. From ₹4,174 crores in the July-September quarter of 2022-23, it surged to ₹4,934 crores in the same quarter of 2023-24. This indicates a positive trajectory in the company’s revenue stream.
- Healthier Financial Metrics: When juxtaposing the April-June quarter metrics of 2023-24 with July-September quarter of the same fiscal year, there’s an evident improvement:
- The Gross NPA (Non-Performing Assets) decreased from 6.03% to 5.79%, showcasing a better asset quality.
- The Net NPA also saw a reduction, moving from 2.96% to 2.8%.
- The Capital Adequacy Ratio (CAR) experienced a slight decline, moving from 23.16% to 22.15%. Though a decline, it still stands robustly above the minimum threshold, signaling the company’s good capital position.
SHRIRAM FINANCE has shown robust performance in the recent quarter, and the announcement of the dividend further adds to the positive sentiment around the company. Investors and stakeholders will likely monitor the company’s progress closely in the upcoming quarters.
