Saturday, January 30, 2021

Press Release II Shriram City Union Finance Ltd. declares December 2020 results

Press Release II Shriram City Union Finance Ltd. declares December 2020 results 

Shriram City Union Finance Ltd. declares December 2020 results

Mumbai, January 29, 2021: Leading Small Business financier Shriram City Union Finance Limited (Shriram City) has declared its results for the quarter and nine months ended December 2020 of Financial Year 2021.

In a strong quarter, disbursements more than doubled sequentially. SME loans, new Two Wheeler loans, and Gold loans which together comprise almost 89% of the loan book saw sequential disbursement growth rates of 186%, 133%, and 24% respectively. New Two Wheeler loan disbursements were at their highest ever. Gold loan disbursements were at their highest in fifteen quarters. Assets under Management rose by 3.7% sequentially. Loan yields further improved to 20.53% (versus 19.99% in the previous quarter and 19.84% a year ago). Standalone Net Profit was higher by 8.9% sequentially. Asset quality continued to improve steadily, with Gross Stage 3 levels at 6.46% (versus 6.67% in the previous quarter and 8.51% a year ago). Credit costs were lower by 38 basis points than last quarter’s levels. Borrowing costs moderated further, and Net Interest Margin at 13.09% was the highest in eight quarters. Subsidiary Shriram Housing Finance Ltd., registered their highest-ever quarterly disbursements, having grown 54.1% year-on-year and 15.1% sequentially. Assets under Management for Shriram Housing grew 49.4% annually and 12.9% over the last quarter.

 Mr. Y.S. Chakravarti, MD& CEO, Shriram City Union Finance said, “This has certainly been one of our better quarters in recent times. However, Q3 was the festival season quarter which usually sees us perform strongly.  We will now endeavor to keep up the momentum gained. The quarter saw us scale up our lending across products, and we continue to see further headroom in lending to segments critical to the economy, such as MSMEs. This quarter too saw us further improve our asset quality. Our Housing Finance subsidiary continues to forge ahead, and registered their highest ever disbursements in Q3.”

 About Shriram City Union Finance Ltd. (BSE: SHRMCITY, NSE: SHRIRAMCIT): The thirty-four-year-old Shriram City Union Finance Ltd. is among the more important players in the retail financing space. The company is among the largest financiers of MSMEs and Two Wheelers in the country. It also offers multiple loan products for acquiring assets such as commercial vehicles, passenger vehicles, and homes. In addition, it offers loans against gold ornaments and for personal consumption.  A deposit-accepting NBFC, Shriram City is a part of the over Rs. 1 Lac crore Chennai-based Shriram Group.

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Adroit Industries (India) Limited IPO Opens on Wednesday, September 23, 2026 Total Offer Size- Up to 1,12,47, 000 Equity Shares of face value of ₹10 each Fresh Issue Size - Up to 98,97,000 Equity Shares OFS size - Up to 13,50,000 Equity Shares Total Size - ₹ 150.71 Crore (At Upper Price Band) Price Band - ₹ 126 - ₹ 134 per share Lot Size – 111 Equity Shares Mumbai, September 21, 2026 - Adroit Industries (India) Limited is a vertically integrated manufacturer of propeller shafts and torque-transmission components with over four decades of operational experience, serving automotive, primarily commercial vehicles, and non-automotive applications, including defence and emergency services, heavy equipment and off-highway machinery and industrial equipment across more than 32 countries, proposes to open its Initial Public Offering on Wednesday, September 23, 2026 aiming to raise ₹ 150.71 Crores (At Upper Price Band), with shares to be listed on the BSE & NSE. The offer size is up to 1,12,47,000 Equity Shares with a face value of ₹10 each with a price band of ₹126 - ₹134 Per Share. Equity Share Allocation QIB Portion – Not more than 50.00% of the Offer Non-Institutional Investors - Not less than 15.00% of the Offer Retail Individual Investors - Not less than 35.00% of the Offer The net proceeds from the IPO will be utilized for funding capital expenditure by the company towards procurement of machinery and equipment for enhancement of operations at the Dewas Facility and transportation vehicles for movement of goods between the manufacturing facilities, investment in its subsidiary Adroit Driveshafts Private Limited for capital expenditure towards machinery and equipment at the Pithampur Facility and transportation vehicles for movement of goods between the manufacturing facilities, investment in the subsidiary for repayment or pre-payment, in full or in part, of certain outstanding borrowings availed by it, and general corporate purposes. The anchor bidding is on Tuesday, September 22, 2026. The offer will open on Wednesday, September 23, 2026 and will close on Friday, September 25, 2026. The Book Running Lead Manager to the Offer is Choice Capital Advisors Private Limited and the Registrar is Bigshare Services Private Limited. Mr. Saurabh Sangla, Chairman and Managing Director of Adroit Industries (India) Limited “expressed, The upcoming IPO marks a new phase for the Company. Over the years we have built vertically integrated capabilities spanning forging, precision machining, heat treatment, assembly, balancing and testing, and expanded our portfolio to over 5,000 SKUs of driveline components supplied to customers in more than 32 countries. Going forward, our focus will be on strengthening capacity across our manufacturing facilities, improving operational efficiency, deepening engagement with the Distributors, OEMs and Tier-1 customers across our export and domestic markets and broadening our automotive and non-automotive applications. The IPO will support our plans as we continue to strengthen the business and pursue long-term growth.” Mr. Ratiraj Tibrewal, Director of Choice Capital Advisors Private Limited said, “Adroit Industries (India) Limited has built an export-led driveline business over four decades, with vertically integrated manufacturing and a diversified customer base across automotive and non-automotive applications. The upcoming IPO marks an important step in the Company’s journey as it enters the public markets. We believe the Company’s integrated manufacturing capabilities, long-standing customer relationships and expanding product portfolio provide a foundation for its next phase of growth. We are pleased to be associated with Adroit Industries (India) Limited as it takes this step towards becoming a publicly listed company.” About Adroit Industries (India) Limited Adroit Industries (India) Limited is a vertically integrated manufacturer and supplier of propeller shafts – also known as drive shafts or cardan shafts – and related torque-transmission components. Its portfolio spans over 5,000 SKUs of driveline components, including propeller shaft assemblies, yokes, shafts, companion flanges, universal joints and accessories, supplied to automotive applications, largely commercial vehicles and SUVs, and to non-automotive applications spanning defence and emergency services, heavy equipment and off-highway machinery and industrial equipment. The Company operates three manufacturing facilities in Madhya Pradesh – Dewas Facility i.e for die making and forging processes, Pithampur Facility for machining and assembly, operated by its subsidiary Adroit Driveshafts Private Limited, and Sanwer Road Facility for certain finishing operations– with end-to-end in-house capabilities covering forging, precision machining, heat treatment, assembly, balancing and testing. The facility is certified under IATF 16949, ISO 9001, ISO 14001 and ISO 45001. With operations commencing in 1966, the Company has evolved into an export-led driveline components manufacturer, with 95.39% of Fiscal 2026 product sales derived from outside India across more than 32 countries, supported by a Canadian subsidiary for North American customer engagement, and serving 185 customers in Fiscal 2026 through distributors, Tier-1 driveline component suppliers and OEMs. In FY26, The Company achieved a Revenue from operations of ₹1,399.43 million, EBITDA of ₹387.10 million & PAT of ₹261.58 million. Disclaimer: Certain statements in this document that are not historical facts are forward looking statements. Such forward-looking statements are subject to certain risks and uncertainties like government actions, local, political or economic developments, technological risks, and many other factors that could cause actual results to differ materially from those contemplated by the relevant forward-looking statements. The Company will not be in any way responsible for any action taken based on such statements and undertakes no obligation to publicly update these forward-looking statements to reflect subsequent events or circumstances.

Adroit Industries (India) Limited IPO Opens on Wednesday, September 23, 2026 Total Offer Size- Up to 1,12,47, 000 Equity Shares of face valu...