Debasis Mohapatra
Bengaluru, 8 Dec 2025
With falling interest rates after the monetary easing by the Reserve Bank of India, NBFCs (Non-banking Finance Companies) in India are likely to perform better.
Here is a snapshot of comparison of Q2FY26 financials between two leading NBFCs- Shriram Finance vs Mahindra Finance:
| Particulars | Mahindra Finance | Shriram Finance |
| Net Interest Income (NII) | Rs 2,423 crore | Rs 6,026 crore |
| YoY Growth of NII | 22% ↑ | 10.3% ↑ |
| Net Profit | Rs 569 crore | Rs 2,307 crore |
| YoY Growth of Net Profit | 54% ↑ | 11.5% ↑ |
| Net Interest Margin (NIM) | 7% | 8.2% |
| YoY Growth of NIM | 50 basis points ↑ | 55 basis points ↑ |
| Net NPA | 1.9% (Net Stage-3) | 2.49% |
| Improvement/Worsening in Net NPA YoY | 30 basis points ↓ | 15 basis points improvement |
(Source: Filings & Investor Presentations)
