India’s Leading BFSI Companies 2017
Shriram Transport Finance Company Limited
Kindly brief us about Shriram Transport Finance Company’s journey since inception. Our journey has seen us making several innovations while we stood at the very edge of organized finance. The banks and institutions were guided by the economists’ vision; the small truck owners (STOs) who always fell on their blind side was given the miss. With a track record of about 38 years in this business, we are among the leading organized finance providers for the commercial vehicle industry, with a focus to provide various credit facilities to STOs. We have also added passenger commercial vehicles, multi-utility vehicles, three wheelers, tractors and construction equipment to our portfolio, making us a diversified, end-to-end provider of finance solutions to the domestic road logistics industry. Besides financing commercial vehicles (both new and pre-owned) we also extend finance for tyres, engine replacement and working capital. Our pan-India presence through our widespread network of branches has helped inour overall growthover the years. As on Dec 31, 2016, we had 908 branches, 903 rural centres and tie-ups with over 560 private financiers across the country. As on Dec 31, 2016, our total employee strength was more than 16,000, including more than 10,000 product executives and collection executives who are colloquially referred to as our field force. We have demonstrated consistent growth in our business and profitability. Our assets under management have grown by CAGR of ~16% from ` 40,218 crore in FY12 to ` 72,761 crore in FY16. Our total income andprofit after tax inFY16 standat ` 10,245 crore and ` 1,178 crore, respectively. Today we have approximately 20- 25% market share in pre-owned and approximately 7-8% market share in new truck financing, with more than 1.3 million customers.
Your company is considered to be a pioneer in the pre-owned commercial vehicle financing. Give us a brief insight of your major offerings. What new products and services is your company planning to offer in the near future? We offer loans for the purchase of new/ used commercial vehicles, working capital loans like tyre financing, engine repair, personal loans, top-up loans, business loans, SME loans, etc. We believe in partnering with customers throughout their journey from being a driver owner to a fleet owner. We keep in direct touch with our customers to understand their requirements on the go and to help them in their growth or to help tackle their business problems. Today we have approximately 20-25% market share in pre- owned and approximately 7-8% market share in new truck financing, with more than 1.3 million customers. “ ” The Indian government is increasingly focusing on adopting digital technologies in the financial industry. What is your outlook on the adoption of digital technologies over the next 5 years? Customers’ expectations are generally determined by other enterprises. Integration of web, mobile, social, and in-person customer service has increased the level of expectations among the customers today. Technology can make financial operations easier and convenient. Keeping this in mind, we have adopted the following steps towards digitalization. A customer can get his instalment payment done through payment gateways, wallets, UPI and with the swipe of his debit card. The same is enabled on web and mobile platforms. He cancommunicate tous about his interest for any loan or other products. We are able to witness a phenomenal shift
Umesh Revankar Managing Director & CEO
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