Jefferies cuts target for Shriram Finance stock to INR 1,145

Jefferies cut its target for Shriram Finance stock from INR 1,210 to INR 1,145 on October 26, 2026, while keeping a Buy rating, according to Moneycontrol. The revision followed strong second-quarter earnings but a more cautious growth outlook.

Profit growth meets credit concerns

Shriram Finance reported consolidated revenue from operations of INR 137,924.8 million for the second quarter ended September 30, 2026, up 15.78 percent from the year-earlier period. Consolidated net profit reached INR 36,838.1 million, a 59.19 percent increase from INR 23,141.6 million in the same quarter of fiscal 2026, according to EquityBulls.

Assets under management rose 16.96 percent year over year to INR 3,290,000 million as of September 30, 2026. The result was tempered by asset-quality pressure: gross non-performing assets reached 4.65 percent in the July to September quarter, while net non-performing assets stood at 2.31 percent, Upstox reported on October 26, 2026.

What does the outlook cut mean?

Management reduced fiscal 2027 AUM growth guidance from 18 percent to 15-17 percent. The lower range matters because the company also indicated that credit costs could stay elevated for another one or two quarters, according to Moneycontrol. For investors, the contrast is clear: earnings expanded sharply, but future growth and asset quality now carry greater weight in valuation.

Dividend dates are next

The board declared an interim dividend of INR 6.50 per share for fiscal 2027 on October 23, 2026. The record date is October 29, 2026, and payment is scheduled before November 20, 2026, according to EquityBulls.

Market value and company profile

Shriram Finance had a market capitalization of INR 1.9 trillion as of October 26, 2026. The company operates in financial services and credit services, with lending activity spanning commercial vehicles, consumer finance and small businesses.

Market context: Market report BSE Sensex.