External broker reports(aggregated public sources), Axis Direct

Axis Direct

External broker reports(aggregated public sources)

Axis Direct is the flagship brand under Axis Securities Limited, a subsidiary of Axis Bank in India. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

Equity Bottom-Up

<ul><li>NIMs Improve as Excess Liquidity Eases: SLF’s 8 bps NIM improvement was aided by utilisation of excess liquidity, which currently stands at normalised levels, equivalent to 3 months (vs 5 months in Q1) of liability repayments.</li><li>Furthermore, the company’s incremental CoF stands at 8.07% vs the overall CoF of 8.83% (down 12 bps QoQ) in Sep’25.</li><li>Thus, downward repricing of CoF should help support margins. </li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

NIMs Improve as Excess Liquidity Eases: SLF’s 8 bps NIM improvement was aided by utilisation of excess liquidity, which currently stands at normalised levels, equivalent to 3 months (vs 5 months in Q1) of liability repayments.Furthermore, the company’s incremental CoF stands at 8.07% vs the overall CoF of 8.83% (down 12 bps QoQ) in Sep’25.Thus, downward repricing of CoF should help support margins. Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Shriram Finance Ltd. - Inline Quarter; Growth Outlook Optimistic!

<ul><li>NIMs Impacted by Excess Liquidity; CoF Improvement to Drive Expansion: The 14bps QoQ contraction in margins was on account of the negative carry from the excess liquidity carried on the balance sheet.</li><li>The management has indicated that SFL will look to ease the excess liquidity (by ~Rs 10,000 Cr) over the next 4-5 months, while maintaining liquidity to cover 3 months of liabilities cover vs 5-month cover currently. Thus, easing of excess liquidity should support margins.</li><li>SFL’s yields across segments have remained largely stable. </li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

NIMs Impacted by Excess Liquidity; CoF Improvement to Drive Expansion: The 14bps QoQ contraction in margins was on account of the negative carry from the excess liquidity carried on the balance sheet.The management has indicated that SFL will look to ease the excess liquidity (by ~Rs 10,000 Cr) over the next 4-5 months, while maintaining liquidity to cover 3 months of liabilities cover vs 5-month cover currently. Thus, easing of excess liquidity should support margins.SFL’s yields across segments have remained largely stable. Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Shriram Finance Ltd. - NIMs to Improve Over H2FY26; Growth Visibility Healthy!

<ul><li>NIMs to rebound as excess liquidity eases: Another sharp contraction in NIMs during Q4FY25 was attributed to excess liquidity of up to 6 months of liability repayments (~Rs 31,000 Cr) vs. an average liquidity of 3 months of liability repayments (~Rs 19,000 Cr).</li><li>The impact of excess liquidity on margins was 20-25bps.</li><li>The management has assured that this will be utilised over the next couple of quarters. </li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

NIMs to rebound as excess liquidity eases: Another sharp contraction in NIMs during Q4FY25 was attributed to excess liquidity of up to 6 months of liability repayments (~Rs 31,000 Cr) vs. an average liquidity of 3 months of liability repayments (~Rs 19,000 Cr).The impact of excess liquidity on margins was 20-25bps.The management has assured that this will be utilised over the next couple of quarters. Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Shriram Finance Ltd - On Recovery Path After a Slight Hiccup; Risk-Reward Favourable!

<ul><li>Optimism around growth momentum sustaining: The management highlighted that rural demand remains robust and is expected to drive healthy AUM growth for SFL.</li><li>Growth in the CV segment has been slower, primarily led by an increase in ATS (prices up ~30% over the past three years) rather than volume growth.</li><li>Volume growth in the CV segment has been constrained due to limited capacity additions, with existing capacity witnessing improved utilisation rates. </li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Optimism around growth momentum sustaining: The management highlighted that rural demand remains robust and is expected to drive healthy AUM growth for SFL.Growth in the CV segment has been slower, primarily led by an increase in ATS (prices up ~30% over the past three years) rather than volume growth.Volume growth in the CV segment has been constrained due to limited capacity additions, with existing capacity witnessing improved utilisation rates. Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Shriram Finance Ltd. - Growth Outlook Healthy; No Major Concerns on Asset Quality!

External broker reports(aggregated public sources), Motilal Oswal Financial Services Limited

Motilal Oswal

Motilal Oswal Financial Services Limited

Motilal Oswal Financial Services Limited is an Indian diversified financial services firm offering a range of financial products and services. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

<ul><li>Shriram Finance (SHFL) offers a well-diversified product suite and has emerged as a strong player across all its product segments.</li><li>It has demonstrated strong execution capabilities and asset quality resilience while navigating multiple credit and economic cycles.</li><li>Even though things might appear to be moving slowly on the economic front in India, we believe that economic activity (such as infrastructure, real estate, and mining) will pick up in the next 3-6 months, resulting in healthy demand for commercial vehicles (CV).</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Shriram Finance (SHFL) offers a well-diversified product suite and has emerged as a strong player across all its product segments.It has demonstrated strong execution capabilities and asset quality resilience while navigating multiple credit and economic cycles.Even though things might appear to be moving slowly on the economic front in India, we believe that economic activity (such as infrastructure, real estate, and mining) will pick up in the next 3-6 months, resulting in healthy demand for commercial vehicles (CV).Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Shriram Finance - A Beacon of Resilience and Opportunity

India

Shriram Finance Limited provides consumer finance services. The Company offers automobile, commercial vehicle, business, and gold loan services. Shriram Finance serves customers in India.

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Shriram Finance (SHFL IN)

Shriram Finance Ltd. - Inline Quarter; Growth Outlook Optimistic!

SLF’s 8 bps NIM improvement was aided by utilisation of excess liquidity, which currently stands at normalised levels, equivalent to 3 months (vs 5...

Axis Direct

Shriram Finance Ltd. - NIMs to Improve Over H2FY26; Growth Visibility Healthy!

The 14bps QoQ contraction in margins was on account of the negative carry from the excess liquidity carried on the balance sheet.

Axis Direct

Shriram Finance Ltd - On Recovery Path After a Slight Hiccup; Risk-Reward Favourable!

NIMs to rebound as excess liquidity eases: Another sharp contraction in NIMs during Q4FY25 was attributed to excess liquidity of up to 6 months of...

Axis Direct

Shriram Finance Ltd. - Growth Outlook Healthy; No Major Concerns on Asset Quality!

Optimism around growth momentum sustaining: The management highlighted that rural demand remains robust and is expected to drive healthy AUM growth...

Axis Direct

Shriram Finance - A Beacon of Resilience and Opportunity

Shriram Finance (SHFL) offers a well-diversified product suite and has emerged as a strong player across all its product segments.

Motilal Oswal

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