Shriram Transport Finance Company Ltd

Shriram Transport Finance Company Limited (STFC) is the flagship company of Shriram Group a diversified group with interests in financial services viz. Commercial vehicle finance, Consumer Finance, life and general insurance, stock broking, chit funds and distribution of financial products such as life and general insurance products and units of mutual funds.(Source : 201903 Annual Report Page No: 2)

Pros:
Cons:
Company has low interest coverage ratio.
Promoter holding is low: 26.08%

Peer Comparison Sector: Finance // Industry: Finance & Investments

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Quarterly Results Standalone Figures in Rs. Crores / View Consolidated

Sep 2016 Dec 2016 Mar 2017 Jun 2017 Sep 2017 Dec 2017 Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019
Revenue 2,713 2,717 2,712 3,116 3,259 3,377 3,545 3,729 3,938 3,991 3,871 4,054
Interest 1,331 1,278 1,268 1,552 1,560 1,594 1,669 1,854 1,850 1,919 1,888 2,043
780 902 1,206 854 935 941 558 985 1,148 1,080 1,008 1,003
Financing Profit 602 537 239 710 764 841 1,318 891 940 992 975 1,007
Financing Margin % 22% 20% 9% 23% 23% 25% 37% 24% 24% 25% 25% 25%
Other Income 0 0 0 3 1 1 200 2 10 2 9 8
Depreciation 9 8 8 8 9 9 10 10 11 11 12 33
Profit before tax 594 529 231 704 756 833 1,508 883 939 984 972 982
Tax % 35% 35% 35% 35% 34% 35% 36% 35% 35% 35% 23% 35%
Net Profit 388 346 150 460 497 542 962 573 610 635 746 634
Gross NPA % 6.58% 6.62% 8.16% 8.03% 8.06% 7.98% 9.15% 8.98% 8.77% 8.97% 8.29% 0.00%
Net NPA % 2.04% 1.71% 2.65% 2.49% 2.45% 2.45% 2.83% 2.74% 2.75% 2.78% 2.55% 0.00%
Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes

Profit & Loss Standalone Figures in Rs. Crores / View Consolidated

Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 TTM
Revenue 2,495 3,697 4,493 5,393 5,883 6,553 7,880 8,637 10,290 10,829 13,357 15,529 15,854
Interest 1,297 1,978 2,247 2,317 2,490 2,908 3,963 4,420 5,087 5,220 6,411 7,564 7,701
577 805 910 1,224 1,510 1,620 2,068 2,341 3,388 3,652 3,252 4,160 4,239
Financing Profit 622 915 1,336 1,852 1,884 2,024 1,849 1,876 1,814 1,956 3,693 3,805 3,914
Financing Margin % 25% 25% 30% 34% 32% 31% 23% 22% 18% 18% 28% 24% 25%
Other Income 21 41 3 7 10 11 8 7 3 2 145 16 29
Depreciation 37 35 15 11 13 18 29 41 36 34 36 43 67
Profit before tax 606 921 1,325 1,849 1,881 2,016 1,828 1,842 1,781 1,924 3,802 3,778 3,877
Tax % 36% 33% 34% 33% 33% 33% 31% 33% 34% 35% 35% 32%
Net Profit 390 612 873 1,230 1,257 1,361 1,264 1,238 1,178 1,257 2,461 2,564 2,625
EPS in Rs 18.33 29.24 37.70 53.30 55.56 59.97 54.53 52.55 51.92 54.60 108.44 113.00
Dividend Payout % 26% 17% 16% 12% 12% 12% 13% 18% 19% 7% 10% 11%
* Sales is net of excise duty and discounts
Compounded Sales Growth
10 Years:15.43%
5 Years:14.53%
3 Years:14.70%
TTM:13.98%
Compounded Profit Growth
10 Years:15.39%
5 Years:15.23%
3 Years:29.59%
TTM:2.02%
Return on Equity
10 Years:17.47%
5 Years:15.28%
3 Years:16.35%
Last Year:17.44%

Balance Sheet Standalone Figures in Rs. Crores / View Consolidated

Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019
203 204 226 226 226 227 227 227 227 227 227 227
Reserves 1,589 2,089 3,609 4,678 5,766 6,968 8,046 9,011 9,927 11,075 13,349 15,609
Borrowings 14,773 20,121 18,460 19,882 23,127 31,002 35,925 44,276 49,791 53,110 82,131 87,914
1,713 2,611 4,686 6,850 6,667 6,269 5,049 5,823 8,024 9,995 1,539 1,542
Total Liabilities 18,278 25,024 26,980 31,636 35,786 44,466 49,247 59,337 67,969 74,407 97,245 105,292
143 134 46 36 38 60 101 101 101 86 122 147
CWIP 0 0 0 0 0 0 0 0 0 0 0 0
Investments 1,385 655 1,856 3,646 3,954 3,569 2,725 3,327 1,356 1,547 2,341 3,999
16,750 24,235 25,078 27,954 31,794 40,837 46,421 55,909 66,512 72,774 94,782 101,146
Total Assets 18,278 25,024 26,980 31,636 35,786 44,466 49,247 59,337 67,969 74,407 97,245 105,292

Cash Flows Standalone Figures in Rs. Crores / View Consolidated

Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019
-5,768 -1,556 868 -2,045 -865 -7,003 -3,778 -9,906 -7,906 -2,707 -13,160 -5,837
-1,463 264 -1,962 -3 -15 -40 -67 -42 -20 -1 103 -76
6,463 5,231 -1,043 1,242 3,057 7,686 4,688 8,124 5,241 3,046 13,017 5,852
Net Cash Flow -768 3,939 -2,137 -807 2,176 642 843 -1,824 -2,685 338 -40 -62

Ratios Standalone Figures in Rs. Crores / View Consolidated

Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019
ROE % 27% 30% 28% 28% 23% 21% 16% 14% 12% 12% 19% 17%

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