NDTV Profit's special research section collates quality and in-depth equity and economy research reports from across India's top brokerages, asset managers and research agencies. These reports offer NDTV Profit's subscribers an opportunity to expand their understanding of companies, sectors and the economy.ICICI Securities ReportShriram Finance, post the Shriram Transport Finance Company Ltd.-Shriram City Union Finance Ltd. merger in FY23, has now in its arsenal one of the largest distribution networks (more than 3,000 branches), formidable manpower (more than 70,000 employees) and a wide array of retail asset products. The merger has brought with it a second wind for growth too, which is progressively convalescing – FY24 to-date growth stands at 15%, following Shriram Transport's timid FY19-23 spell of 9%/5%/7%/8%/14% on a standalone basis. With early signs of merger synergies forming a strong premise, in terms of enhanced product offering and reach, arm in arm with the appreciable scope for cross-selling – given only ~15% branches offer the company's full product catalogue as on December 2023 – management aims to outpace the industry growth rate by 20-25%. Likely operating leverage over the next four-six quarters and steady net interest margin would drive return on equity to 16-18% from current level of 15.5% with return on asset of 3%.Click on the attachment to read the full report:IIFL Finance's Nirmal Jain Says No Ethical Issues At Play After RBI ActionDISCLAIMERThis report is authored by an external party. NDTV Profit does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of NDTV Profit.Users have no license to copy, modify, or distribute the content without permission of the Original Owner.