While there are ongoing conversations with interested investors, which is common for any large non-banking financial company (NBFC), Revankar said he had no new information regarding speculation about a potential stake sale to a Japanese entity. He noted that foreign investor interest remains high, but reiterated that capital discussions do not imply a funding need.
Revankar also raised the company’s growth guidance, saying, “We gave the guidance of 15%. We should be growing at around 17–18% if everything falls in line.” He attributed this optimism to accelerating rural demand, which he said is currently expanding faster than urban markets. Government-led infrastructure activity, he added, should help lift urban demand further.
Shriram Finance’s liquidity position remains comfortable, supported by a reduction in incremental borrowing costs—from 8.3% last quarter to about 8.15% now—despite the fact that smaller NBFCs are facing tighter liquidity conditions.
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Revankar was more cautious on the micro, small, and medium enterprises (MSME) segment, pointing to a slowdown among businesses exposed to the US market. While some MSMEs are diversifying toward Asia and Europe, he stated that sector turnover was largely flat during October and November.
However, he clarified that the company’s direct exposure is minimal, explaining that only “one and a half percent of my book” is linked to export-oriented MSMEs. Shriram Finance is also targeting an improvement in return on assets from 2.8% to 3% by the end of 2025-26 (FY26).
Shriram Finance has a market capitalisation of about ₹1,60,718 crore, and its shares have gained nearly 41% over the past year.
For the entire interview, watch the accompanying video