SAFFRONS WORLD: Shriram Transport Finance Company Limited - Q3FY21 Results

Friday, January 29, 2021

Shriram Transport Finance Company Limited - Q3FY21 Results - Press release

PRESS RELEASE

Thursday 28th January 2021, Mumbai: The Board Meeting of Shriram Transport Finance

Company Limited (STFC), was held today to consider the unaudited financial results for the Third

quarter ended 31st December 2020.

Financials (Standalone) :

Third-quarter ended 31st

December 2020 :

The Net Interest Income for the Third quarter ended 31st December 2020 was at Rs. 2,148.22

crores as against Rs. 2,113.75 crores in the same period of the previous year. The profit after tax

was Rs. 727.72 crores as against Rs. 879.16 crores recorded in the same period of the previous

year. The earning per share (basic) for the third quarter ended 31st December 2020 stood at Rs.

29.54 as against Rs. 37.76 recorded in the same period of the previous year.

COVID - 19 PROVISION

In view of the disruptions being caused by the COVID -19 pandemic (pandemic)and the prolonged

lockdown significantly impacting our country’s economy, the Company has considered an

additional Expected Credit Loss (ECL) provision on Loans of Rs. 224.82 crores and Rs. 1,597.62

crores on account of the pandemic during the quarter and nine-month period ended December

31, 2020 respectively. As of December 31, 2020, additional ECL provision on Loan Assets as

management overlay on account of COVID - 19 stood at Rs 2,507.26 crores. The additional ECL

provision on account of the pandemic is based on the Company’s historical experience, collection

efficiencies post completion of Moratorium period, a scheme by the Government of India, internal

assessment, and other emerging forward-looking factors on account of the pandemic. However,

the actual impact may vary due to prevailing uncertainty caused by the pandemic. The

The company’s management is continuously monitoring the situation and the economic factors

affecting the operations of the Company.

Contd...2/-

(2)

NPA CLASSIFICATION

Hon'ble Supreme Court, in public interest litigation (Gajendra Sharma vs. Union of India & Anr).

vide an interim order dated September 3, 2020, had directed that accounts that were not

declared NPA till August 31, 2020, shall not be declared as NPA till further orders. Gross NPA and

Net NPA as of 31st December 2020 stood at 5.33 % and 3.22 % respectively, as against 8.71%

and 6.09% as of 31st December 2019. However such accounts have been classified as stage 3

and provisioned accordingly. Had the Company classified this borrower accounts as NPA after

31 August 2020, the Company's Gross NPA and Net NPA ratio would have been 7.11 % and

4.31% respectively.

Assets under Management :

Total Assets under Management as of 31st December 2020 was Rs. 114,932.06 crores as

compared to Rs. 108,931.38 crores as of 31st December 2019.

About Shriram Transport Finance Company Limited

Shriram Transport Finance Company Limited is the flagship company of the Shriram group which

has a significant presence in Consumer Finance, Life Insurance, General Insurance, Stock Broking, and Distribution businesses. Established in 1979, Shriram Transport is today the largest asset

financing NBFC in the country and holistic finance provider for the commercial vehicle industry

and seeks to partner with small truck owners for every possible need related to their assets. It has

PAN India presence with 1,799 branch offices. Based in Mumbai, it manages assets under

management over Rs. 114,900 crores and has a live customer base of the app. 21 lacs.

 Post moratorium, the collections for the month of September 2020, October 2020, November 2020

and December 2020 were 95 %, 97%, 97%, and 104% of the Demand respectively.

 The Company invoked a resolution plan to relieve COVID – 19 pandemic related stress to eligible

Borrowers worth Rs. 22,670 mn, out of which as of December 31, 2020 the Company had

restructured loans worth Rs. 3,096 mn. The balance is likely to be restructured in the next couple of

quarters.

 The liquidity buffer and SLR investments were Rs. 134.30 bn and Rs. 18.12 bn respectively.

BUSINESS UPDATE

Additional Expected Credit Loss (ECL) provision on Loans on account of COVID – 19

The above additional ECL provision is based on the Company’s historical experience and other

emerging forward-looking factors on account of the pandemic. However, the actual impact may vary

due to prevailing uncertainty caused by the pandemic. The Company’s management is continuously

monitoring the situation and the economic factors affecting the operations of the Company.

Particulars (Rs. mn) Q4FY20 Q1 FY21 Q2 FY21 Q3FY21 9M FY21

Cumulative

provision till

December 31

2020

COVID – 19 provision 9,096.40 9,561.50 4,166.50 2,248.20 15,976.20 25,072.60

EPS

Performance Highlights – Q3 FY21 vs Q3 FY20

Total Income

Net Interest Income*

PAT

5.23%

1.63%

17.23%

21.77%

Q3 FY21 Rs 44,431.2 mn

Q3 FY20 Rs 42,222.0 mn

Q3 FY21 Rs 29.54

Q3 FY20 Rs 37.76

Q3 FY21 Rs 21,482.2 mn

Q3 FY20 Rs 21,137.5 mn

Q3 FY21 Rs 7,277.2 mn

Q3 FY20 Rs 8,791.6 mn

including Direct assignment Income

Rs. 77.6 Mn (Q3 FY20 Rs -16.4 Mn)

 Cost to income ratio at

22 % in Q3 FY21 as

compared to 22.92% in

Q3 FY20

EPS

Performance Highlights – 9M FY21 vs 9M FY20

Total Income

Net Interest Income*

PAT

4.26%

2.10%

23.97%

28.12%

9M FY21 Rs 129,385.5 mn

9M FY20 Rs 124,095.9 mn

9M FY21 Rs 70.33

9M FY20 Rs 97.85

9M FY21 Rs 60,159.8 mn

9M FY20 Rs 61,452.4 mn

9M FY21 Rs 17,323.4 mn

9M FY20 Rs 22,784.6 mn

including Direct assignment Income

Rs. 789.0 Mn (9M FY20 Rs 132.8 Mn)

 Cost to income ratio at

20.92% in 9M FY21 as

compared to 22.63% in

9M FY20

Performance Highlights – Q3 FY21 vs Q3 FY20

AUM

Gross Stage 3 assets

Net Stage 3 assets

Book Value

5.51%

13.01%

24.64%

5.61%

Q3 FY21 Rs 1,149,320.6 mn

Q3 FY20 Rs 1,089,313.8 mn

Q3 FY21 Rs 827.75

Q3 FY20 Rs 783.78

Q3 FY21 Rs 817,04.3 mn

Q3 FY20 Rs 93,923.5 mn

Q3 FY21 Rs 48,041.6 mn

Q3 FY20 Rs 63,747.6 mn

 CRAR at 23.61% as of

Q3 FY21 compared to

20.68% as of Q3 FY20.

AUM Break-up

*Off Books pertains to Direct assignment portfolio

Particulars (Rs. mn) Q3 FY20 Q1 FY21 Q2 FY21 Q3 FY21 Y

YoY (%) QoQ (%) 9M FY20 9M FY21 YoY (%) FY20

Loan Portfolio

- On Books

Balance sheet assets 8,56,784.9 8,76,987.8 8,73,031.2 9,03,375.7 5.44% 3.48% 8,56,784.9 9,03,375.7 5.44% 8,73,971.2

Securitised assets 2,18,045.1 2,28,830.4 2,44,232.1 2,32,411.1 6.59% -4.84% 2,18,045.1 2,32,411.1 6.59% 2,11,045.9

Total On books 10,74,830.0 11,05,818.2 11,17,263.3 11,35,786.8 5.67% 1.66% 10,74,830.0 11,35,786.8 5.67% 10,85,017.1

- Off Books* 14,483.8 11,745.5 16,196.0 13,533.8 -6.56% -16.44% 14,483.8 13,533.8 -6.56% 12,475.3

Total AUM 10,89,313.8 11,17,563.7 11,33,459.3 11,49,320.6 5.51% 1.40% 10,89,313.8 11,49,320.6 5.51% 10,97,492.4

- New 1,04,651.3 96,561.0 92,324.7 84,939.6 -18.84% -8.00% 1,04,651.3 84,939.6 -18.84% 97,951.2

- Used 9,26,255.2 9,58,640.0 9,80,888.3 10,10,346.5 9.08% 3.00% 9,26,255.2 10,10,346.5 9.08% 9,39,489.5

- Business Loans 26,495.0 25,217.3 23,621.7 22,259.1 -15.99% -5.77% 26,495.0 22,259.1 -15.99% 25,649.8

- Working capital loans 31,420.9 36,656.9 36,114.2 31,268.0 -0.49% -13.42% 31,420.9 31,268.0 -0.49% 33,859.4

- Others 491.4 488.5 510.4 507.4 3.26% -0.59% 491.4 507.4 3.26% 542.5

Total AUM 10,89,313.8 11,17,563.7 11,33,459.3 11,49,320.6 5.51% 1.40% 10,89,313.8 11,49,320.6 5.51% 10,97,492.4

Segment-wise Break up

HCVs and CEs,

45.76%

M&LCVs, 23.34%

Passenger Vehicles,

22.48%

Tractors, 3.06%

Business Loans, 2.43%

Working Capital Loans,

2.88%

Others, 0.05%

Q3 FY20

HCVs and CEs,

47.54%

M&LCVs, 24.03%

Passenger

Vehicles, 21.06%

Tractors, 2.67%

Business Loans,

1.94%

Working Capital

Loans, 2.72% Others, 0.04%

Q3 FY21

Branch & AUM distribution – Q3 FY21 vs Q3 FY20

Branch (Nos) AUM (Rs in bn)

Total AUM Rs

1,149.3 bn

Total AUM

Rs 1,089.3 bn Total Branch 1,714

Total Branch 1,799

Urban branches represent places where the population is more than 10 Lakh

Semi-urban branches represent places where the population is less between 1 Lakh to 10 Lakh

Rural branches represent places where the population is less than 1 Lakh

Urban,

224

Rural,

984

Semi-

Urban,

591

Q3 FY21

Urban,

179.0

Rural,

559.1

Semi-

Urban,

411.2

Q3 FY21

Urban,

217 Rural,

936

Semi-

Urban,

561

Q3 FY20

Urban,

182.8

Rural,

510.9

Semi-

Urban,

395.6

Q3 FY20

Provision Analysis

Particulars (Rs. mn) Q3 FY20 Q1 FY21 Q2 FY21 Q3 FY21 YoY (%) QoQ (%) 9M FY20 9M FY21 YoY (%) FY20

Q2 FY21 as

per

Supreme

court order

Q3 FY21 as

per

Supreme

court order

Gross Stage 3 93,923.5 89,307.5 82,171.2 81,704.3 -13.01% -0.57% 93,923.5 81,704.3 -13.01% 91,797.1 72,656.1 61,208.0

ECL provision-Stage 3 30,175.9 34,429.1 32,630.7 33,662.8 11.56% 3.16% 30,175.9 33,662.8 11.56% 31,886.5 28,718.4 24,984.6

Net Stage 3 63,747.6 54,878.4 49,540.5 48,041.5 -24.64% -3.03% 63,747.6 48,041.5 -24.64% 59,910.6 43,937.6 36,223.5

Gross Stage 3 (%) 8.71% 7.98% 7.26% 7.11% -18.36% -2.05% 8.71% 7.11% -18.36% 8.36% 6.42% 5.33%

Net Stage 3 (%) 6.09% 5.06% 4.51% 4.31% -29.17% -4.43% 6.09% 4.31% -29.17% 5.62% 3.99% 3.22%

Coverage Ratio (%) Stage 3 32.13% 38.55% 39.71% 41.20% 28.24% 3.75% 32.13% 41.20% 28.24% 34.74% 39.53% 40.82%

Gross Stage 1 & 2 9,83,849.9 10,29,274.7 10,49,026.2 10,66,650.0 8.42% 1.68% 9,83,849.9 10,66,650.0 8.42% 10,06,319.5 10,58,541.4 10,87,146.2

ECL provision-Stage 1 & 2 26,794.4 38,412.4 41,776.6 43,806.2 63.49% 4.86% 26,794.4 43,806.2 63.49% 31,433.6 45,688.8 52,484.4

Net Stage 1 & 2 9,57,055.5 9,90,862.3 10,07,249.6 10,22,843.8 6.87% 1.55% 9,57,055.5 10,22,843.8 6.87% 9,74,885.9 10,12,852.5 10,34,661.8

ECL provision (%) Stage 1 & 2 2.72% 3.73% 3.98% 4.11% 50.80% 3.13% 2.72% 4.11% 50.80% 3.12% 4.32% 4.83%

Well-entrenched Pan India Network

Branch Network Branch

Offices

Rural

Centers

Private

Financiers

Customers Business Team

Zonal Split of Branches

Employees

ABBREVIATIONS

Zone Zone Name

ZOADH HYDERABAD ZONE

ZODHP DELHI ZONE

ZOECE RANCHI ZONE

ZOCHN CHANDIGARH ZONE

ZOGRA AHMEDABAD ZONE

ZONCE LUCKNOW ZONE

ZOSO1 CHENNAI ZONE

ZOSOU BANGALORE ZONE

ZOWON KOLKATA ZONE

ZOIND INDORE ZONE

ZOPUN PUNE ZONE

ZORPR RAIPUR ZONE

ZOADH, 180

ZODHP, 49

ZOECE, 101

ZOCHN, 59

ZOGRA, 167

ZONCE, 114

ZOSO1, 407

ZOSOU, 248

ZOWON, 81

ZOIND, 136

ZOPUN, 161

ZORPR, 96

P&L Statement

13 *Before Provisions & Contingencies

Particulars (Rs. mn) Q3 FY20 Q1 FY21 Q2 FY21 Q3 FY21 YoY (%) QoQ (%) 9M FY20 9M FY21 YoY (%) FY20

Interest income 41,912.7 41,273.6 43,271.1 44,125.5 5.28% 1.97% 1,23,386.0 1,28,670.2 4.28% 1,64,773.1

Interest expended 20,775.2 22,848.2 23,018.9 22,643.3 8.99% -1.63% 61,933.6 68,510.4 10.62% 83,703.3

Net interest income 21,137.5 18,425.4 20,252.2 21,482.2 1.63% 6.07% 61,452.4 60,159.8 -2.10% 81,069.8

Other Operating Income - - - - - - - - 0.00% -58.8

Operating income 21,137.5 18,425.4 20,252.2 21,482.2 1.63% 6.07% 61,452.4 60,159.8 -2.10% 81,011.0

Operating expenditure 5,126.6 3,630.8 4,714.5 5,079.5 -0.92% 7.74% 14,512.1 13,424.8 -7.49% 19,670.5

Core operating profit * 16,010.9 14,794.6 15,537.7 16,402.7 2.45% 5.57% 46,940.3 46,735.0 -0.44% 61,340.5

Other income 296.2 157.1 221.1 234.4 -20.86% 6.02% 669.6 612.6 -8.51% 995.0

Operating profit 16,307.1 14,951.7 15,758.8 16,637.1 2.02% 5.57% 47,609.9 47,347.6 -0.55% 62,335.5

Loan Losses & Provisions 4,443.9 10,645.9 6,554.6 6,747.1 51.83% 2.94% 16,662.2 23,947.6 43.72% 27,948.8

Profit before tax 11,863.2 4,305.8 9,204.2 9,890.0 -16.63% 7.45% 30,947.7 23,400.0 -24.39% 34,386.7

Tax Expense 3,071.6 1,105.2 2,358.6 2,612.8 -14.94% 10.78% 8,163.1 6,076.6 -25.56% 9,368.3

Profit after tax 8,791.6 3,200.6 6,845.6 7,277.2 -17.23% 6.30% 22,784.6 17,323.4 -23.97% 25,018.4

Other comprehensive Income (Net) 5.5 -1,914.5 210.0 594.0 10700.00% 182.86% -38.8 -1,110.5 2762.11% -47.4

Total Comprehensive Income 8,797.1 1,286.1 7,055.6 7,871.2 -10.53% 11.56% 22,745.8 16,212.9 -28.72% 24,971.0

EPS (Rs) 37.76 12.99 27.79 29.54 -21.77% 6.30% 97.85 70.33 -28.12% 107.44

Tier I CRAR % 16.82% 18.34% 20.12% 20.51% 21.91% 1.91% 16.82% 20.51% 21.95% 18.13%

Tier II CRAR % 3.86% 3.59% 3.32% 3.10% -19.68% -6.62% 3.86% 3.10% -19.68% 3.86%

Total CRAR % 20.68% 21.93% 23.44% 23.61% 14.15% 0.71% 20.68% 23.61% 14.18% 21.99%

Book Value (Rs) 783.78 799.26 802.66 827.75 5.61% 3.13% 783.78 827.75 5.61% 793.59

Balance Sheet

Particulars (Rs. mn) Dec-19 Jun-20 Sep-20 Dec-20 YoY (%) QoQ (%) Mar-20

I. ASSETS

Financial Assets

Cash and cash equivalents 9,653.1 32,865.8 29,250.8 37,983.0 293.48% 29.85% 30,889.9

Bank Balance other than above 40,396.0 39,932.7 63,006.2 46,942.9 16.21% -25.49% 42,259.3

Derivative financial instruments 2,455.6 5,177.7 2,431.9 1,512.8 -38.39% -37.79% 7,587.3

Receivables

(I) Trade Receivables 181.4 48.0 61.1 61.0 -66.37% -0.16% 105.0

(II) Other Receivables 28.0 18.5 810.2 670.2 2293.57% -17.28% 56.4

Loans 10,17,956.9 10,34,011.6 10,43,394.5 10,58,810.8 4.01% 1.48% 10,22,316.3

Investments 28,229.2 28,328.8 29,762.7 29,037.6 2.86% -2.44% 27,984.8

Other-financial assets 353.1 380.0 378.4 2,749.0 678.53% 626.48% 387.0

Non Financial assets

Current tax assets (net) 2,009.6 2,491.0 2,491.0 3,397.1 69.04% 36.37% 2,491.0

Deferred tax assets (net) 177.6 1,452.7 1,291.1 1,115.5 528.10% -13.60% 625.0

Investment Property 20.5 20.2 20.1 20.0 -2.44% -0.50% 20.3

Property, plant and equipment 1,466.1 1,403.8 1,323.5 1,259.9 -14.06% -4.81% 1,498.8

Right-of-use assets 3,427.2 3,131.8 3,028.3 3,218.5 -6.09% 6.28% 3,342.9

Other Intangible assets 21.0 24.2 23.0 22.4 6.67% -2.61% 26.7

Other non-financial assets 1,561.6 1,839.8 1,955.4 1,957.9 25.38% 0.13% 1,695.7

Total 11,07,936.9 11,51,126.6 11,79,228.2 11,88,758.6 7.29% 0.81% 11,41,286.4

Balance Sheet (Continued)

Particulars (Rs. mn) Dec-19 Mar-20 Sep-20 Dec-20 YoY (%) QoQ (%) Mar-20

II. Liabilities and Equity

Financial Liabilities

Derivative financial instruments - - - - 0.00% 0.00% -

Payables 1,742.1 1,129.8 1,244.4 1,565.6 -10.13% 25.81% 1,449.7

Debt Securities 3,06,524.4 3,38,829.9 3,25,170.8 3,28,732.1 7.25% 1.10% 3,42,669.6

Borrowings (other than debt securities) 4,28,217.9 4,44,360.6 4,57,796.9 4,43,544.8 3.58% -3.11% 4,24,746.0

Deposits 1,20,277.2 1,20,565.4 1,29,167.1 1,43,353.6 19.19% 10.98% 1,19,601.2

Subordinated Liabilities 60,143.2 48,824.9 46,871.1 46,966.7 -21.91% 0.20% 56,700.7

Other financial liabilities 6,849.1 9,244.5 9,130.2 8,698.2 27.00% -4.73% 9,123.2

Lease liabilities 3,665.2 3,454.5 3,405.1 3,613.2 -1.42% 6.11% 3,628.1

Non-financial Liabilities

Current tax liabilities (net) 1,024.8 1,536.5 1,525.4 1,020.2 -0.45% -33.12% 1,020.2

Provisions 1,401.4 1,543.8 1,490.3 1,490.8 6.38% 0.03% 1,463.3

Other non-financial liabilities 265.2 299.0 303.4 300.9 13.46% -0.82% 832.8

Equity

Equity share capital 2,268.8 2,268.8 2,530.6 2,530.6 11.54% 0.00% 2,268.8

Other equity 1,75,557.6 1,79,068.9 2,00,592.9 2,06,941.9 17.88% 3.17% 1,77,782.8

Total 11,07,936.9 11,51,126.6 11,79,228.2 11,88,758.6 7.29% 0.81% 11,41,286.4

Key Metrics – Q3 FY21

P&L Metrics (Rs. mn) Q3 FY20 Q1 FY21 Q2 FY21 Q3 FY21 YoY (%) QoQ (%) 9M FY20 9M FY21 YoY (%) FY20

Interest Income 41,912.7 41,273.6 43,271.1 44,125.5 5.28% 1.97% 1,23,386.0 1,28,670.2 4.28% 1,64,773.1

Less: Interest Expenses 20,775.2 22,848.2 23,018.9 22,643.3 8.99% -1.63% 61,933.6 68,510.4 10.62% 83,703.3

Net Interest Income 21,137.5 18,425.4 20,252.2 21,482.2 1.63% 6.07% 61,452.4 60,159.8 -2.10% 81,069.8

Other Operating Income & Other Income 296.2 157.1 221.1 234.4 -20.86% 6.02% 669.6 612.6 -8.51% 936.2

Profit After Tax 8,791.6 3,200.6 6,845.6 7,277.2 -17.23% 6.30% 22,784.6 17,323.4 -23.97% 25,018.4

EPS (Rs.) 37.76 12.99 27.79 29.54 -21.77% 6.30% 97.85 70.33 -28.12% 107.44

Cost to income Ratio (%) 22.92% 18.67% 21.83% 22.00% -4.01% 0.79% 22.63% 20.92% -7.53% 23.31%

NIM (on AUM) 7.34% 6.42% 6.66% 6.88% -6.28% 3.28% 7.27% 6.66% -8.39% 7.16%

Balance Sheet Metrics (Rs. mn) Q3 FY20 Q1 FY21 Q2 FY21 Q3 FY21 YoY (%) QoQ (%) 9M FY20 9M FY21 YoY (%) FY20

Networth 1,77,550.0 1,81,061.3 2,02,847.1 2,09,196.1 17.82% 3.13% 1,77,550.0 2,09,196.1 17.82% 1,79,775.2

Book Value (Rs.) 783.78 799.26 802.66 827.75 5.61% 3.13% 783.78 827.75 5.61% 793.59

Interest Coverage (x) 2.03 1.81 1.89 1.96 -3.45% 3.70% 2.00 1.89 -5.50% 1.98

ROA (%) 3.05% 1.06% 2.22% 2.32% -23.95% 4.52% 2.66% 1.87% -29.70% 2.17%

ROE (%) 20.20% 7.09% 14.24% 14.11% -30.14% -0.94% 18.18% 11.96% -34.20% 14.71%

CRAR (%) 20.68% 21.93% 23.44% 23.61% 14.15% 0.71% 20.68% 23.61% 14.18% 21.99%

Borrowing Profile as of December 31, 2020, vs December 31, 2019

Rs 962.60 bn Rs 915.16 bn

Bonds,

21.32% External

Commercial

Bond, 12.83%

External

Commercial

Borrowing,

4.27%

Other

Borrowing,

2.34%

Public

Deposit,

14.76%

Securitization,

23.77%

Subordinated

debts, 4.88%

Term Loan,

15.83%

Q3 FY21

Bonds,

23.87% Commercial

Paper, 0.54%

Other

Borrowing,

1.89%

Public

Deposit,

13.09%

Securitization,

24.40%

Subordinated

debts, 6.57%

Term Loan,

16.43%

Term Loan in

Foreign

currency,

0.39%

External

Commercial

Bond, 9.08%

External

Commercial

Borrowing,

3.74%

Q3 FY20

Borrowing Profile as of December 31, 2020, vs September 30, 2020

Rs 962.60 bn Rs 959.01 bn

Bonds,

21.32% External

Commercial

Bond, 12.83%

External

Commercial

Borrowing,

4.27%

Other

Borrowing,

2.34%

Public

Deposit,

14.76%

Securitization,

23.77%

Subordinated

debts, 4.88%

Term Loan,

15.83%

Q3 FY21

Bonds,

20.97%

Other

Borrowing,

3.59%

Public

Deposit,

13.41%

Securitization,

25.37%

Subordinated

debts, 4.89%

Term Loan,

14.44%

External

Commercial

Bond, 12.94%

External

Commercial

Borrowing,

4.39%

Q2 FY21

ALM statement on December 31, 2020

Particulars (Rs. Bn) One

month

Over one

month to 2

months

Over 2

months to

3 months

Over 3

months to

6 months

Over 6

months to

one year

Over one

year to 3

years

Over 3 to

5 years Over 5 years Total

Total Outflows 33.65 24.54 46.15 95.59 173.07 463.68 109.94 264.98 1,211.60

Total Intflows 83.71 36.21 49.07 105.07 185.90 513.20 169.14 47.66 1,189.96

Mismatch 50.06 11.67 2.92 9.48 12.83 49.52 59.20 (217.32) (21.64)

Cumulative mismatch 50.06 61.73 64.65 74.13 86.96 136.48 195.68 (21.64)

Shareholding Pattern as of December 31, 2020, vs December 31, 2019

No. of shares outstanding: 253.06 mn No. of shares outstanding: 226.88 mn

Promoters &

Promoters

group,

26.48%

FII & FPI,

61.82%

NRI, 0.15%

MF/Bank,

1.59%

Other

Corporate

Body,

3.66%

Public,

6.30%

Q3 FY21

Promoters &

Promoters

group,

26.25%

FII & FPI,

64.33%

NRI, 0.13%

MF/Bank,

2.41%

Other

Corporate

Body,

0.99%

Public,

5.90%

Q3 FY20

Has Attracted Strong Interest from Quality Investors

 Consistent track record and high growth

potential has attracted reputed institutional and

private equity investors to infuse growth capital

 Last two fundraising :

1. On August 06, 2020, allotted 26.179 mn

equity shares of the face value of Rs. 10/- each

(“Rights Equity Shares”) aggregating to Rs.

14.92 bn to the eligible equity shareholders

for cash at a price of Rs. 570/- per Rights

Equity Share (including a premium of Rs.

560/- per rights equity share) in the ratio of 3

rights equity shares for every 26 equity

shares held by the eligible equity

shareholders on the record date i.e. July 10,

2020.

2. On January 28, 2010, allotted 11.658 mn

equity shares at Rs. 500.80 per equity share

to Qualified Institutional Buyers (QIB) for an

aggregate sum of Rs. 5.84 bn to 45 marquees

global as well as domestic funds and

insurers, which included 22 existing investors

and the rest, new investors.

Key Shareholders

Current

Shareholding

(Mn Shares)

Shriram Capital Limited 66.96 26.46

Fidelity Investment Trust Fidelity Series Emerging Markets

Opportunities Fund

12.46 4.92

Sanlam Life Insurance Limited 7.54 2.98

Life Insurance Corporation of India 6.82 2.70

Government Pension Fund Global 5.63 2.22

J P Morgan Funds 4.60 1.82

Wishbone Fund Ltd. 4.38 1.73

T. Rowe Price International Value Equity Fund 4.35 1.72

T. Rowe Price New Asia Fund 3.37 1.33

Vanguard Total International Stock Index Fund 2.71 1.07

Public & Others 134.24 53.05

Total 253.06 100.00

For any Investor Relations

queries please contact

Sanjay K. Mundra

Shriram Transport Finance Co. Ltd

Email: smundra@stfc.in

Tel. No. +91-22-4095 9507

About Us

About Shriram Transport Finance Co. Ltd.

Shriram Transport Finance Co Ltd. is one of the largest asset financing NBFCs in India with Assets on Balance sheet of Rs.

114,932 crores. The company is a leader in organized financing of pre-owned trucks with strategic presence in 5-10 year old

trucks. It has a pan-India presence with a network of 1,799 branches, and employs 24,670 employees including 19,179 Business

team. The company has built a strong customer base of approx. 2.10 mn. Over the past 41 years, it has developed strong

competencies in the areas of loan origination, valuation of pre-owned trucks and collection. It has a vertically integrated business

model and offers a number of products which include: Pre-owned CV financing, New CV financing and other loans like accidental

repair loans, tyre loans and working capital finance, etc. For more information please visit www.stfc.in

Forward Looking Statement

Certain statements in this document with words or phrases such as “will”, “should”, etc., and similar expressions or variation of

these expressions or those concerning our future prospects are forward looking statements. Actual results may differ materially

from those suggested by the forward looking statements due to a number of risks or uncertainties associated with the expectations.

These risks and uncertainties include, but are not limited to, our ability to successfully implement our strategy and changes in Post moratorium, the collections for the month of September 2020, October 2020, November 2020

and December 2020 were 95 %, 97%, 97% and 104% of the Demand respectively.

 The Company invoked resolution plan to relieve COVID – 19 pandemic related stress to eligible

Borrowers worth Rs. 22,670 mn, out of which as on December 31, 2020 the Company had

restructured loans worth Rs. 3,096 mn. The balance is likely to be restructured in the next couple of

quarters.

 The liquidity buffer and SLR investments was Rs. 134.30 bn and Rs. 18.12 bn respectively.

BUSINESS UPDATE

Additional Expected Credit Loss (ECL) provision on Loans on account of COVID – 19

The above additional ECL provision is based on the Company’s historical experience and other

emerging forward looking factors on account of the pandemic. However, the actual impact may vary