<dhhead>Message From</dhhead>
The Chairman
Dear Stakeholders,
It gives me immense pleasure to present the 45th Annual
Report of the Company for FY 2023-24. As we reflect on the journey of Shriram
Finance, the last year has been a testament to our resilience, foresight and commitment to
excellence. e strategic move of the merger of the Shriram entities with our Company, aimed
at fortifying our position in the market has started bearing fruits, resulting in
enhancing long-term shareholder value. Today, we witness the fruitful dividends of our
combined efforts with a diverse portfolio of products and a wider branch network,
further improving service offerings. Amidst the backdrop of global economic uncertainties, I am
delighted to report that the Indian economy has steadfastly maintained its growth
trajectory. Despite challenges on the international front, our nation has remained
steadfast, with an impressive GDP growth rate of 8.2% in the fiscal year 2023-24. is marks
the third consecutive year of robust growth, a testament to the resilience and dynamism of
our economy. is stellar performance can be attributed to several key factors. Increased
public sector investment has injected vitality into our economic landscape, paving the way
for sustainable growth and development. Our financial sector, underpinned by a
culture of resilience and innovation, has remained strong and resilient in the face of
adversity. Moreover, the substantial expansion in non-food credit underscores the confidence and
optimism that pervades our economy, fuelling growth and prosperity across sectors.
Performance Highlights
At Shriram Finance, we are proud to have played a pivotal role in this
journey of progress and prosperity. Our commitment to empowering individuals and
businesses through tailored financial solutions has enabled us to make meaningful contributions to
the economic fabric of our nation. Our commitment to providing tailored financial
solutions and our steadfast focus on digitalisation have continuously elevated the
standard of customer experience. Our customer relationship that has been nurtured over the
past years has positioned us as their preferred lender in a competitive market. In the
past fiscal year, our core loan products have delivered exceptional performance, driving our
Assets Under Management (AUM) 21.10% higher than in FY 2023-24. is success underscores the effectiveness of
our thriving branch network and our sustained investments in Digital Transformation, which
are now yielding tangible results.
Moreover, we take immense pride in our role in advancing financial
inclusion across the nation, transforming our customers’ aspirations into tangible
achievements. Our swi_ progress towards integrating Environmental, Social and Governance
(ESG) parameters into all our operations reflects our commitment to creating
shared value for all stakeholders.
With an expansive opportunity landscape, an agile and effective
strategy and a scalable business model, Shriram Finance is strategically positioned in a
favourable position. We continue focussing on our philosophy of enhancing stakeholder
value through prudent financial management and striking a balance between high growth and
prudent credit underwriting practices. As we drive forward with dual engines of organic
and relationship-led growth, we are poised to reach even greater heights.
Way Forward
At the heart of Shriram Finance lies a deep and abiding commitment to
building trust and prioritising customer-centricity, which are the pillars that shape the
pace and quality of our achievements. We understand that fostering trust and prioritising
the needs of our customers is pivotal in nurturing enduring relationships across our
stakeholder network. We firmly believe that genuine sustainability stems from cultivating these
intangible values consistently. is belief underpins our significant and ongoing
investments in our people, partnership and platforms. By placing emphasis on responsible
people engagement, we not only differentiate ourselves within the industry but also ensure our capacity
to deliver exceptional financial returns over the long term. As we stand at the threshold of
boundless opportunities, we eagerly anticipate embarking on this exhilarating journey into
the future alongside our valued partners and stakeholders. Together, we will continue to
uphold our commitment to excellence and chart a course towards sustained growth and
prosperity. We are grateful for your continued trust, confidence and patronage for the growth
of the Company. With regards,
Jugal Kishore Mohapatra
Chairman