Shriram Finance — A Beacon Of Resilience, Opportunity; 'Buy' The Stock Says Motilal Oswal, Sees 32% Upside

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Motilal Oswal Report

Shriram Finance Ltd. is yet to fully tap its expanded distribution network (from the merger) to offer a much wider product bouquet to its customers. The company is effectively leveraging cross-selling opportunities to reach new customers and introduce new products, resulting in improved operating metrics and a solid foundation for sustainable growth.

The current valuation of ~1.3 times FY27E book value per share is attractive for a ~19% PAT CAGR over FY24-27E and RoA/RoE of ~3.3%/17% in FY27E. Shriram Finance is our top pick in the NBFC sector with a target price of Rs 700 (based on 1.7x FY27E BVPS).

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