NSE SHRIRAMFIN · BSE 511218 · Consumer Financial Services · NIFTY 50
Shriram Finance Share Price
₹976.30
▼ −₹17.79 · 1.79%
Day range · 25 Sep
₹986.60Low₹1,001.95High
52-week range
₹603.30Low · 29 Sep 2025₹1,153.65High · 6 Aug 2026
Shriram Finance Overview
Where the price stands, how it has moved and how it sits against its averages.
Shriram Finance shares last traded at ₹976.30 on the NSE, down 1.79% on the day. That is 15.4% below the 52-week high of ₹1,153.65 and 61.8% above the 52-week low of ₹603.30. The stock trades at 20.77× earnings, below the sector average of 24.38. Its market value is ₹2,35,063 Cr.
Price returns
1 Day▼ −1.79%
1 Week▼ −3.51%
This month▼ −12.04%
3 Months▼ −5.38%
6 Months▲ +8.02%
This year▼ −2.00%
1 Year▲ +61.17%
Share price growth a year (CAGR): 3 years ▲ +37.2% · 5 years ▲ +29.2% · 10 years ▲ +15.5%
Against the market: 1 Month ▼ −5.98% · 3 Months ▲ +0.54% · 6 Months ▲ +5.94% · This year ▲ +15.10% · 1 Year ▲ +75.87%
Shading grows with the size of the move. We ask our data provider for a newer price every 15 minutes while the market is open (9:15 AM–3:30 PM IST); next check from Fri 16 Oct, 9:15 AM. Its quotes are not real-time — the time at the top shows how current the price is.
Moving averages — price is above 0 of 6
- 50-day average₹1,065.24 ▼ price 8.3% below
- 20-day average₹1,043.11 ▼ price 6.4% below
- 100-day average₹1,020.22 ▼ price 4.3% below
- 10-day average₹1,008.80 ▼ price 3.2% below
- 5-day average₹1,006.72 ▼ price 3.0% below
- 300-day average₹999.31 ▼ price 2.3% below
- Today's price₹976.30
Each average is the mean closing price over that many trading days; averages above the current price sit higher on the ladder.
Shriram Finance Financial Results
Revenue and net profit in ₹ crore, with the full statements underneath.
48,133
10,024
Year by year
| Fiscal year | Revenue | Growth | Net profit | Net margin | EPS | Dividend |
|---|---|---|---|---|---|---|
| FY 2026 | ₹48,133 Cr | ▲ +15.4% | ₹10,024 Cr | 20.8% | ₹53.25 | ₹10.80 |
| FY 2025 | ₹41,702 Cr | ▲ +20.4% | ₹9,554 Cr | 22.9% | ₹50.00 | ₹9.90 |
| FY 2024 | ₹34,640 Cr | ▲ +14.7% | ₹7,366 Cr | 21.3% | ₹38.07 | ₹9.00 |
| FY 2023 | ₹30,197 Cr | ▲ +58.6% | ₹6,011 Cr | 19.9% | ₹31.97 | ₹7.00 |
| FY 2022 | ₹19,037 Cr | ▲ +9.7% | ₹2,721 Cr | 14.3% | ₹20.44 | ₹4.00 |
| FY 2021 | ₹17,362 Cr | ▲ +4.9% | ₹2,499 Cr | 14.4% | ₹20.29 | ₹3.60 |
| FY 2020 | ₹16,555 Cr | — | ₹2,512 Cr | 15.2% | ₹21.76 | ₹0.97 |
13,215
3,453
Quarter by quarter
| Quarter | Revenue | vs prev. qtr | Net profit | Net margin | EPS |
|---|---|---|---|---|---|
| Q1 FY27 | ₹13,215 Cr | ▲ +6.2% | ₹3,453 Cr | 26.1% | ₹14.85 |
| Q4 FY26 | ₹12,448 Cr | ▲ +2.8% | ₹3,021 Cr | 24.3% | ₹16.05 |
| Q3 FY26 | ₹12,114 Cr | ▲ +2.5% | ₹2,530 Cr | 20.9% | ₹13.44 |
| Q2 FY26 | ₹11,815 Cr | ▲ +3.6% | ₹2,314 Cr | 19.6% | ₹12.27 |
| Q1 FY26 | ₹11,401 Cr | ▲ +0.6% | ₹2,159 Cr | 18.9% | ₹11.47 |
| Q4 FY25 | ₹11,329 Cr | ▲ +7.1% | ₹2,144 Cr | 18.9% | ₹11.39 |
| Q3 FY25 | ₹10,582 Cr | ▲ +5.5% | ₹3,247 Cr | 30.7% | ₹17.18 |
| Q2 FY25 | ₹10,027 Cr | — | ₹2,140 Cr | 21.3% | ₹10.63 |
Balance sheet — FY26
Owes (liabilities)Shareholders' equity
79%
21%
- Total assets₹3,21,375 Cr
- Total liabilities₹2,55,456 Cr
- Shareholders' equity₹65,919 Cr
- Total debt₹2,51,467 Cr
- Cash & investments₹5,746 Cr
- Revenue growth, 5 yr22.62% a year
- EPS growth, 5 yr21.28% a year
- Operating margin (TTM)29.32%
- Net margin (TTM)22.78%
Cash flow — FY26
Operating activities
▼ −₹13,280 Cr
Investing activities
▼ −₹243 Cr
Financing activities
▲ ₹8,587 Cr
Free cash flow
▼ −₹13,476 Cr
Net change in cash
▼ −₹4,936 Cr
Right of the line = cash coming in, left = cash going out. Free cash flow = cash from operations minus capital spending.
Full financial statements, FY20–FY26
| ₹ crore | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|---|
| Total revenue | 16,555.49 | 17,361.60 | 19,037.43 | 30,197.27 | 34,639.76 | 41,701.78 | 48,132.95 |
| Cost of revenue | 8,293.41 | 9,101.09 | 9,794.08 | 13,194.57 | 15,181.51 | 18,967.44 | 22,050.22 |
| Gross profit | 8,262.08 | 8,260.51 | 9,243.35 | 17,002.70 | 19,458.25 | 22,734.34 | 26,082.73 |
| Operating expenses | 13,103.36 | 14,125.68 | 15,692.22 | 22,243.72 | 25,260.67 | 29,289.05 | 34,819.99 |
| Operating income | 3,452.13 | 3,235.92 | 3,345.21 | 7,953.55 | 9,379.09 | 12,412.73 | 13,312.96 |
| Depreciation | 141.02 | 137.33 | 135.34 | 600.64 | 568.79 | 645.31 | 698.90 |
| Profit before tax | 3,438.67 | 3,278.01 | 3,549.25 | 8,213.72 | 9,683.64 | 12,502.91 | 13,300.19 |
| Tax | 915.65 | 790.75 | 841.32 | 2,202.25 | 2,493.16 | 3,079.60 | 3,295.99 |
| Net profit | 2,512.27 | 2,498.83 | 2,721.10 | 6,011.04 | 7,366.38 | 9,553.82 | 10,024.16 |
| EPS (₹) | 21.76 | 20.29 | 20.44 | 31.97 | 38.07 | 50.00 | 53.25 |
| Dividend per share (₹) | 0.97 | 3.60 | 4.00 | 7.00 | 9.00 | 9.90 | 10.80 |
| ₹ crore | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|---|
| Total assets | 1,14,265.79 | 1,29,910.26 | 1,42,268.16 | 2,10,572.69 | 2,48,265.94 | 2,93,997.57 | 3,21,374.52 |
| Current assets | — | — | — | — | — | — | — |
| Cash & short-term investments | 3,088.99 | 11,050.93 | 10,662.44 | 9,932.84 | 6,182.36 | 10,681.40 | 5,745.82 |
| Inventory | — | — | — | — | — | — | — |
| Property, plant & equipment | 477.72 | 432.95 | 413.08 | 751.49 | 941.07 | 1,025.68 | 1,108.99 |
| Total liabilities | 96,123.48 | 1,08,192.97 | 1,16,173.90 | 1,67,059.83 | 1,99,318.77 | 2,37,527.75 | 2,55,455.93 |
| Current liabilities | — | — | — | — | — | — | — |
| Total debt | 94,858.33 | 1,06,545.90 | 1,14,846.14 | 1,64,804.32 | 1,96,195.43 | 2,34,915.90 | 2,51,467.08 |
| Total equity | 18,142.31 | 21,717.29 | 26,094.26 | 43,512.86 | 48,947.17 | 56,469.82 | 65,918.59 |
| ₹ crore | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|---|
| From operations | −2,463.58 | −4,238.76 | −8,859.02 | −12,356.07 | −31,287.26 | −43,683.26 | −13,279.54 |
| From investing | −55.20 | −24.89 | −34.33 | −193.04 | −258.21 | 3,661.21 | −242.83 |
| From financing | 4,578.63 | 12,225.59 | 8,504.86 | 11,819.51 | 27,626.01 | 44,521.09 | 8,586.79 |
| Capital expenditure | −57.80 | −25.82 | −35.75 | −196.59 | −245.60 | −254.59 | −196.24 |
| Dividends paid | −272.38 | −152.59 | −851.81 | −562.80 | −1,875.07 | −1,859.30 | −1,465.10 |
| Net change in cash | 2,059.85 | 7,961.94 | −388.49 | −729.60 | −3,919.46 | 4,499.04 | −4,935.58 |
Shriram Finance vs Peers
Side by side with other consumer financial services companies. The small bars compare each column.
| Company | Price | Change | Market cap | P/E | P/B | ROE (5 yr) | Net margin | Div. yield |
|---|---|---|---|---|---|---|---|---|
| Shriram Finance This stock | ₹976.30 | ▼ −1.79% | ₹2,35,063 Cr | 20.77 | 2.79 | 16.15% | 22.78% | 1.11% |
| Bajaj Finance | ₹995.00 | ▲ +1.21% | ₹6,19,483 Cr | 25.01 | 5.76 | 19.79% | 23.72% | 0.51% |
| Jio Financial Services | ₹227.00 | ▼ −0.87% | ₹1,49,891 Cr | 95.47 | 1.15 | 1.11% | 49.84% | 0.21% |
| Tata Capital | ₹338.90 | ▲ +0.74% | ₹1,43,880 Cr | 20.47 | 3.26 | 14.39% | 15.95% | 0.16% |
| Power Finance Corporation | ₹338.70 | ▼ −0.24% | ₹1,11,774 Cr | 5.42 | 1.01 | 20.90% | 29.13% | 4.58% |
| Muthoot Finance | ₹2,826.00 | ▼ −0.32% | ₹1,13,455 Cr | 10.57 | 3.07 | 22.80% | 34.29% | 1.22% |
Peer prices and ratios as last reported by the data provider. Company names link to their own pages.
Shriram Finance Key Metrics
Each ratio placed against a benchmark — the sector average, the company's own 5-year average, or a common rule of thumb.
Shriram FinanceBenchmarkRule-of-thumb bands
Valuation The price against earnings, book value and sales
P/E (TTM)Price ÷ yearly earnings per share
20.77
▼ 15% below the sector average of 24.38
P/E, 12-month rangeLow 7.88 · high 20.51
100%
Today's P/E sits 100% of the way from its low to its high
P/BPrice ÷ book value per share
2.79
P/SMarket cap ÷ last 12 months' revenue
4.74
P/CFPrice ÷ cash flow per share
19.40
PEGP/E ÷ earnings growth rate
0.94
Profitability Of every ₹100 of sales, how much is kept?
Gross marginKept after the cost of goods
55.85%
▲ above its 5-yr average of 54.41%
Operating marginKept after running costs
29.32%
▲ above its 5-yr average of 26.71%
Pre-tax marginKept before tax
30.29%
▲ above its 5-yr average of 27.20%
Net marginKept as profit
22.78%
▲ above its 5-yr average of 20.34%
Returns & efficiency How well does it use its money?
Return on equityProfit on shareholders' money
16.38%
▲ above its 5-yr average of 16.15%
Return on assetsProfit on everything it owns
3.25%
▲ above its 5-yr average of 3.15%
Return on investmentProfit on long-term capital
5.32%
▲ above its 5-yr average of 5.21%
Return on capital employedProfit before interest and tax on equity + debt
11.61%
Growth Is the business getting bigger?
Revenue — last 12 months
+14.4%
▲ growing
Revenue — 3 yr, a year
+16.8%
▲ growing
Revenue — 5 yr, a year
+22.6%
▲ growing
Net profit — 3 yr, a year
+18.6%
▲ growing
Net profit — 5 yr, a year
+32.0%
▲ growing (off the scale)
EPS — last 12 months
+11.7%
▲ growing
EPS — 3 yr, a year
+18.5%
▲ growing
EPS — 5 yr, a year
+21.3%
▲ growing
Dividend — 3 yr, a year
+15.6%
▲ growing
Book value — 5 yr, a year
+15.3%
▲ growing
Financial strength Can it pay its bills and debts?
Debt to equityBorrowings for every ₹1 of shareholders' money — a lender's loans are funded this way
3.81×
Interest coverProfit before interest and tax ÷ interest on its borrowings
1.60×
Payout ratioShare of profit paid as dividend
20.28%
Per share What each share stands for
EPS (TTM)
₹56.61
Book value
₹350.33
Cash flow
₹60.20
Dividend
₹10.80
Revenue
₹248.71
The share price is 2.79× the book value behind each share.
Benchmarks: sector averages and 5-year averages come from the data provider; the debt and liquidity bands are common rules of thumb, not investment advice.
All 106 metrics from the data provider
Valuation
P/E excluding extraordinary items, most recent fiscal year18.59
Current Dividend Yield - Common Stock Primary Issue, LTM1.09
Price to Book - most recent fiscal year2.83
P/E Basic excluding extraordinary items - TTM18.39
P/E including extraordinary items - TTM17.49
P/E excluding extraordinary items low, trailing 12 months7.88
Price to Tangible Book - most fiscal year3.62
Dividend Yield - 5 Year Average1.64
Price to sales - most recent fiscal year4.84
Dividend Yield - indicated annual dividend divided by closing price1.09
Price to Cash Flow per share - trailing 12 month19.40
Peg Ratio0.94
P/E Normalized, most recent fiscal year13.27
P/E excluding extraordinary items high, trailing 12 months20.51
P/E excluding extraordinary items, most recent fiscal year quarter17.49
Price to sales - trailing 12 month4.70
Net Debt, LFY24,57,213.00
Per share
Dividend Per Share - 5 year average8.14
Cash Flow per share - trailing 12 month60.20
Cash Flow per share - most recent fiscal year56.85
EPS including extraordinary items - trailing 12 month56.61
EPS including extraordinary items - most recent fiscal year53.25
EBITD per share - trailing 12 month104.15
Revenue/share - trailing 12 month248.71
EPS excluding extraordinary items - trailing 12 month56.61
EPS Basic excluding extraordinary items - most recent fiscal year53.29
EPS Basic excluding extraordinary items - trailing 12 month56.67
Book value per share - most recent fiscal year350.34
Dividend per share - most recent fiscal year10.80
Revenue/share - most recent fiscal year255.67
EPS Normalized - most recent fiscal year74.60
Book value (tangible) per share - most recent fiscal year342.23
Dividends per share - trailing 12 month10.80
EPS excluding extraordinary items - most recent fiscal year53.25
Cash per share - most recent fiscal year30.54
Margins
Operating margin - trailing 12 month29.32
Gross Margin - 5 year average54.41
Operating margin - 1st historical fiscal year27.66
Operating Margin - 5 year average26.71
Net Profit Margin % - 1st historical fiscal year20.78
Gross Margin - 1st historical fiscal year54.19
Net Profit Margin % - trailing 12 month22.78
Net Profit Margin - 5 year average20.34
Pretax Margin - 5 year average27.20
Pretax margin - 1st historical fiscal year27.63
Pretax margin - trailing 12 month30.29
Free Operating Cash Flow/Revenue, 5 Year Average−67.36
Gross Margin - trailing 12 month55.85
Growth
EPS Change %, TTM over TTM11.72
Revenue growth rate, 5 year22.62
EPS growth rate, 5 year21.28
Revenue Change % - most recent quarter 1 year ago15.91
Growth rate% - dividend, 3 year15.55
Growth rate% - EPS, 3 year18.54
Revenue/share (5 yr growth)12.64
Tangible Book Value, Total Equity, 5 Year CAGR24.28
Earnings Before Interest, Taxes, Depreciation & Amortization, 5 Year Interim CAGR15.49
Capital Spending growth rate, 5 year50.03
Revenue Change %, TTM over TTM14.42
Growth rate% - Revenue, 3 year16.81
Book value per share growth rate, 5 year15.34
EPS Change % - most recent quarter 1 year ago29.47
Net Profit Margin growth rate, 5 year7.73
Earnings Before Interest, Taxes, Depreciation & Amortization, 5 Year CAGR18.81
Total Debt, 5 Year CAGR18.74
Financial strength
Net Interest coverage - most recent fiscal year277.02
Free Cash Flow - most recent fiscal year−1,49,408.80
LT debt/equity - most recent fiscal year1.85
Payout ratio - trailing 12 month9.97
Current EV/Free Cash Flow, LFY52.94
Total debt/total equity - most recent fiscal year3.81
Payout ratio - most recent fiscal year11.26
Returns & efficiency
Return on average equity - 5 year average16.15
Net Income/employee - trailing 12 month14,81,645.00
Revenue/employee - most recent fiscal year61,66,425.00
Return on investment - most recent fiscal year5.32
Return on average assets - most recent fiscal year3.25
Receivables turnover - most recent fiscal year880.11
Revenue/employee - trailing 12 month65,04,592.00
Return on average assets - 5 year average3.15
Net Income/employee - most recent fiscal year12,81,661.00
Asset turnover - most recent fiscal year0.16
Return on average equity - most recent fiscal year16.38
Return on investment - 5 year average5.21
Price & volume
Market Cap2,33,439.50
52 week Low Date29 Sep 2025
Price - 1 Day % Change−2.06
Relative (S&P500) price percent change - 13 week0.54
Avg trading volume last 10 days4.12
Price - 13 week price percent change−4.05
Price - 52 week price percent change58.36
Avg Trading Volume Last 3 months100.14
Price - 5 Day % Change−0.50
Price % Change Month To Date−10.80
Relative (S&P500) price percent change - 04 week−5.98
52 week High Date6 Aug 2026
Price - 26 week price percent change3.56
PDATE24 Sep 2026
Price - YTD price percent change−0.62
Relative (S&P500) price percent change - 52 week75.87
NPRICE990.00
Relative (S&P500) price percent change - 26 week5.94
52 week Low603.15
52 week High1,153.70
Beta1.16
Relative (S&P500) price percent change - Year to Date15.10
Dividends & Corporate Events
Payouts to shareholders, splits and bonus issues, and company meetings — newest first.
₹10.80
- Dividend yield1.11%
- Payout ratio20.28%
- 5-year average dividend₹8.14 a share
- Latest dividend₹6.00 per share · 3 Jul 2026
Corporate calendar
- BoardQuarterly Results & Fund Raising
- MeetingAnnual General Meeting
- Dividend₹6.00 per share · 300% · Final dividend
- BoardAudited Results, Final Dividend & Others
- BoardQuarterly Results & Others
- MeetingExtraordinary General Meeting
- MeetingPostal Ballot
- Dividend₹4.80 per share · 240% · Interim dividend
Show 15 older events
- BoardQuarterly Results & Interim Dividend
- BoardQuarterly Results & Others
- MeetingAnnual General Meeting
- Dividend₹3.00 per share · 150% · Final dividend
- BoardAudited Results, Final Dividend & Others
- Dividend₹2.50 per share · 125% · Interim dividend
- BoardQuarterly Results & Others
- SplitStock split — face value ₹10 → ₹2
- MeetingPostal Ballot
- Dividend₹22.00 per share · 220% · Interim dividend
- BoardQtr Results, Int.Dividend & Stock Split
- MeetingAnnual General Meeting
- Dividend₹15.00 per share · 150% · Final dividend
- Dividend₹10.00 per share · 100% · Interim dividend
- Dividend₹20.00 per share · 200% · Interim dividend
About Shriram Finance
Consumer Financial Services
Shriram Finance Limited is an India-based retail asset financing non-banking finance company (NBFC). The Company is a finance provider catering to the needs of small road transport operators and small business owners and is engaged in organized financing of pre-owned commercial vehicles and two- wheelers. It has a vertically integrated business model and offers various financing products, which include passenger commercial vehicles, loans to micro and small and medium enterprises (MSMEs), tractors and farm equipment, gold, personal loans and working capital loans. It operates in the areas of loan origination, valuation of pre-owned commercial vehicles and other assets, and collections. It has a presence in consumer finance, life insurance, general insurance, stockbroking, and distribution businesses.
Key people
- Yalamati Srinivasa ChakravartiChief Executive Officer, Managing Director, Executive Director
- Umesh Govind RevankarExecutive Vice Chairman of the Board
- Parag SharmaChief Financial Officer, Joint Managing Director, Whole-Time Executive Director
- R. ChandrasekarJoint Managing Director, Chief Compliance Officer
- U. Balasundara RaoCompliance Officer, Company Secretary
- Hardeep Singh TurChief Risk Officer
Company facts
- NSE symbolSHRIRAMFIN
- BSE code511218
- ISININE721A01047
- IndustryConsumer Financial Services
- IndexNIFTY 50, NIFTY 500
- Market cap₹2,35,063 Cr
- Revenue (FY26)₹48,133 Cr
- Net profit (FY26)₹10,024 Cr
In the News
Recent headlines about Shriram Finance — they open on Mint in a new tab.
- Shriram Finance, HAL, Siemens Energy shares among top Nifty 100 laggards - Can they rebound? Expert decodes
Shares of Shriram Finance, Hindustan Aeronautics Limited, and Siemens Energy India Limited lagged in Tuesday's trading session due to profit booking and weak market sentiment.
15 Sep 2026 · 3 min read · Mint ↗ - Nifty 50 has delivered negative returns over the last year; is it the right time to increase your bets on equities?
Indian equities face challenges, with the Nifty 50 down 2% over the past year. Experts suggest a selective approach to sectors and stocks, with earnings growth as a key driver of future market recovery.
15 Aug 2026 · 4 min read · Mint ↗ - RBI keeps Tata Sons in NBFC upper layer list, maintains status quo on listing
Tata Sons remains on the RBI's upper-layer NBFC list for 2026-27 even as the central bank continues to examine its application to surrender its core investment company (CIC) registration.
6 Aug 2026 · 4 min read · Mint ↗
Stock data comes from the exchange feed via our data provider. It is not real-time and can be delayed, so check the price with your broker before you trade. This page is for information and education only. It is not investment advice, research or a recommendation to buy, sell or hold any security. Investments in the securities market are subject to market risks; read all related documents carefully before investing. See all stocks →
Frequently Asked Questions
Shriram Finance (NSE: SHRIRAMFIN) last traded at ₹976.30 on the NSE, down 1.79% (₹17.79) on the day, as of 28 Sep 2026. The day's range on 25 Sep was ₹986.60 – ₹1,001.95.
Shriram Finance's 52-week high is ₹1,153.65 (6 Aug 2026) and its 52-week low is ₹603.30 (29 Sep 2025). At ₹976.30 the share is 15.4% below its high and 61.8% above its low.
Shriram Finance's market capitalisation is ₹2,35,063 Cr (₹2.35L Cr). It is part of the NIFTY 50 index.
Shriram Finance's P/E ratio (trailing 12 months) is 20.77. The sector average is 24.38, so investors pay 15% less for each rupee of its earnings than for the average company in its sector. Its earnings per share (TTM) are ₹56.61.
Shriram Finance shares are up 61.17% over the last year, down 2.00% so far this year, up 8.02% over 6 months, down 5.38% over 3 months. Over the last year the stock did 75.87% better than the market.
In FY26 (year to Mar 2026), Shriram Finance reported revenue of ₹48,133 Cr (up 15.42% on the year before) and a net profit of ₹10,024 Cr. Earnings per share were ₹53.25.
Yes. Shriram Finance's latest dividend is ₹6.00 per share (300%, final dividend), with an ex-date of 3 Jul 2026. The dividend yield is 1.11%. It has paid 8 dividends in the records shown on this page.
As of Jun 2026: Promoter 20.30%, FII 54.74%, MF 13.81%, Other 11.15%. Promoter holding fell by 5.08 percentage points from Mar 2026.
Shriram Finance's listed peers in Consumer Financial Services include Bajaj Finance, Jio Financial Services, Tata Capital, Power Finance Corporation, Muthoot Finance. By market capitalisation it ranks #2 of 6 in this group.
No. Shriram Finance has debt — its debt-to-equity ratio is 3.81 and total debt was ₹2,51,467 Cr in FY26. As a lender it borrows to fund its loans, so debt is part of its business; its profit before interest and tax covers the interest on those borrowings 1.60 times.