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)

  • Market Cap: 16,836 Cr.
  • Current Price: 664.85
  • 52 weeks High / Low 1331.93 / 428.71
  • Book Value: 642.66
  • Stock P/E: 6.70
  • Dividend Yield: 0.75 %
  • ROCE: 10.84 %
  • ROE: 14.73 %
  • Sales Growth (3Yrs): 14.97 %
  • Listed on BSE and NSE
  • Company Website
  • Face Value: 10.00
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Pros:
Stock is trading at 1.03 times its book value
Cons:
Company has low interest coverage ratio.
Promoter holding is low: 26.48%

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

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Quarterly Results Consolidated Figures in Rs. Crores / View Standalone

Jun 2014 Sep 2014 Dec 2014 Mar 2015 Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020
2,150 2,260 2,346 2,421 3,729 3,938 3,991 3,873 4,054 4,218 4,219 4,168
633 624 647 908 985 1,148 1,080 1,011 1,003 1,144 948 1,635
Operating Profit 1,517 1,636 1,699 1,512 2,745 2,790 2,911 2,862 3,050 3,074 3,271 2,534
OPM % 71% 72% 72% 62% 74% 71% 73% 74% 75% 73% 78% 61%
Other Income 0 1 1 0 2 10 2 10 8 2 3 5
Interest 1,053 1,163 1,206 1,253 1,854 1,850 1,919 1,888 2,043 2,113 2,051 2,159
Depreciation 11 11 11 10 10 11 11 12 33 36 36 36
Profit before tax 453 463 484 250 883 939 984 972 982 927 1,186 344
Tax % 31% 33% 34% 66% 35% 35% 35% 23% 35% 17% 26% 35%
Net Profit 313 310 321 84 575 613 639 749 637 768 882 224
EPS in Rs 12.36 12.25 12.69 3.33 22.73 24.21 25.23 29.59 25.19 30.35 34.85 8.87
Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes

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

Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020
4,493 5,482 6,173 7,009 8,476 9,177 10,359 10,903 13,502 15,536 16,568
910 1,315 1,644 1,738 2,244 2,781 3,447 3,712 3,288 4,171 4,689
Operating Profit 3,583 4,167 4,529 5,271 6,232 6,396 6,912 7,190 10,214 11,365 11,879
OPM % 80% 76% 73% 75% 74% 70% 67% 66% 76% 73% 72%
Other Income 3 1 6 7 4 2 3 1 128 20 14
Interest 2,247 2,320 2,560 3,092 4,233 4,706 5,088 5,219 6,409 7,564 8,313
Depreciation 15 11 17 23 33 43 38 35 37 43 141
Profit before tax 1,325 1,838 1,958 2,163 1,970 1,650 1,789 1,938 3,896 3,778 3,439
Tax % 34% 34% 33% 32% 31% 38% 34% 35% 35% 32% 27%
Net Profit 873 1,217 1,309 1,463 1,358 1,028 1,184 1,266 2,549 2,576 2,512
EPS in Rs 33.81 47.27 50.91 56.79 52.58 38.84 44.92 49.27 100.69 101.76 99.26
Dividend Payout % 16% 12% 11% 11% 12% 22% 19% 7% 10% 11% 5%
* Sales is net of excise duty and discounts
Compounded Sales Growth
10 Years:13.94%
5 Years:12.54%
3 Years:14.97%
TTM:6.64%
Compounded Profit Growth
10 Years:11.15%
5 Years:19.54%
3 Years:25.66%
TTM:-2.51%
Stock Price CAGR
10 Years:-0.50%
5 Years:-4.69%
3 Years:-10.51%
1 Year:-30.90%
Return on Equity
10 Years:16.68%
5 Years:15.42%
3 Years:17.02%
Last Year:14.73%

Balance Sheet Consolidated Figures in Rs. Crores / View Standalone

Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020
226 226 226 227 227 227 227 227 227 227 227
Reserves 3,611 4,667 5,806 7,111 8,283 9,039 9,949 11,105 13,463 15,736 17,915
Borrowings 18,460 20,182 24,137 33,386 38,630 46,695 49,790 53,080 82,131 87,914 94,735
4,678 7,047 6,869 6,550 5,192 6,193 8,048 10,034 1,539 1,542 1,389
Total Liabilities 26,974 32,122 37,038 47,274 52,332 62,154 68,013 74,446 97,360 105,419 114,266
46 41 54 72 155 154 152 136 122 147 482
CWIP 0 3 0 0 0 0 0 0 0 0 0
Investments 1,856 3,477 3,666 3,280 2,435 3,037 1,340 1,518 2,456 4,126 2,936
25,072 28,601 33,318 43,922 49,742 58,962 66,522 72,791 94,782 101,146 110,848
Total Assets 26,974 32,122 37,038 47,274 52,332 62,154 68,013 74,446 97,360 105,419 114,266

Cash Flows Consolidated Figures in Rs. Crores / View Standalone

Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020
868 -2,199 -1,687 -8,359 -4,055 -9,611 -5,507 -2,677 -13,142 -5,535 -3,131
-1,960 -11 -28 -41 -112 -45 -36 -2 86 -76 -55
-1,043 1,542 3,766 9,060 5,010 7,836 2,822 3,017 13,014 5,550 5,246
Net Cash Flow -2,135 -668 2,051 661 843 -1,819 -2,721 338 -42 -62 2,060

Ratios Consolidated Figures in Rs. Crores / View Standalone

Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020
ROCE % 18% 16% 15% 14% 12% 12% 12% 13% 11% 11%
Debtor Days 0 0 0 0 0 0 0 0 0 0 0
Inventory Turnover 9.54 9.15 18.60

Shareholding pattern in percentages

Sep 2017 Dec 2017 Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020
26.08 26.08 26.08 26.08 26.08 26.08 26.08 26.08 26.25 26.25 26.25 26.25
48.13 49.73 49.48 47.41 48.70 49.30 50.94 56.40 60.75 64.26 64.66 63.68
4.91 3.52 4.01 5.74 4.53 4.46 3.89 8.09 4.77 3.05 2.70 2.29
20.88 20.67 20.42 20.77 20.69 20.16 19.09 9.43 8.23 6.44 6.39 7.78

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