Shriram Finance targets ₹20,000 crore gold loan portfolio and rapid EV financing expansion

Shriram Finance, one of India's largest retail NBFCs, announced plans to expand its gold loan portfolio to over ₹20,000 crore, which would double the segment's share of total assets under management from about 2.5% to 5% within two years. The company reported a 30% year-on-year growth in gold loans and a 59% rise in quarterly net profit to ₹3,684 crore, attributing the improvement to stronger economic activity after GST reforms.

Its electric-vehicle financing business has accelerated, with monthly disbursements climbing to roughly ₹350 crore from an initial ₹30-40 crore, and it projects the EV loan book to hit ₹5,000 crore shortly. Shriram is exploring collaborations with e-commerce platforms and bulk EV buyers, and hopes its 20% equity partnership with MUFG Bank will open doors to Japanese manufacturers such as Suzuki, Toyota, Honda and Yamaha. No further increase in MUFG’s stake is being discussed.