MSME exposure to US tariff impacts
Some MSMEs have up to 60% exposure to US markets. While diversion to domestic market is underway post-GST cuts, tariff-related uncertainties could stress certain segments like fisheries and prawn culture.
SHRIRAMFIN / Q2-FY26 / risks
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Shriram Finance · Material risks, their source context, and severity in the latest available quarter.
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Material risks this quarter
medium
Passenger vehicle repossession risk post-GST
Analysts questioned whether GST rate cuts (28% to 18%) would reduce vehicle prices and increase repossession losses. Management asserted prices haven't corrected yet but acknowledged uncertainty for PV segment specifically.
Construction equipment portfolio stress
Management acknowledged deliberately reducing construction equipment exposure due to delayed bill payments from state governments. Stage 2 bucket showing elevated stress in this segment.
Used car market transaction volume decline
Transaction volumes have declined as customers extend vehicle usage due to higher prices. Management expects volumes to normalize over 3-4 years as prices rationalize.