As part of its corporate restructuring programme, Shriram Holdings will be amalgamated with commercial vehicle financier Shriram Transport Finance.
In an interview to CNBC-TV18, R Shridhar, managing director of Shriram Transport Finance Company Ltd says, freight rates have been under pressure. “It looks to be under pressure in the future also,” he adds. He expects 10% growth in assets in the current year.
In an interview to CNBC-TV18, R Shridhar, managing director of Shriram Transport Finance Company says, flat profit is on account of higher provisions and write offs. He sees 10% growth in assets under management this year. He doesn’t see any pressure on margins.
Speaking to CNBC-TV18, R Shridhar, managing director of Shriram Transport Finance pointed out that the new norms will call for a change in the recovery practices of getting back loans given, followed by the companies.
As banks are all set to pass the bill from the Reserve Bank’s shocking 50 basis point rate hike, M Parag Sharma, CFO of Shriram Transport Finance Company hints a rate hike as well, adding that when the company will continue to borrow at high rates, borrowers will continue to do the same.
R Shridhar, MD of Shriram Transport Finance Company said he is seeing signs of sluggishness in demand. However, he doesn’t see much pressure on net interest margins.
The commercial vehicle industry has had good run for the last two years, however, R Shridhar, MD of Shriram Transport Finance Company says that “interest rate hikes and upcoming fuel price rise will bring the sluggish down trend in this industry.”
The Reserve Bank of India on Tuesday announced its credit policy. Along with hikes in both lending and borrowing rates, the RBI also said that they are no longer going to classify non-banking financial companies (NBFCs) as priority sector loans.
In an interview with CNBC-TV18, R Sridhar, managing director, Shriram Transport Finance Company, spoke about the company’s results and the road ahead.
Shriram Transport Finance Company has rolled out the country's first automall last week. In an interview with CNBC-TV18, R Shridhar, MD, Shriram Transport Finance Company gave his perspective on the company's latest venture.
Shriram Transport Finance Corporation came out with its results. The revenues were up 19.2% at Rs 1375.6 crore versus Rs 1154.5 crore.
In an interview with CNBC-TV18, Parag Sharma, CFO of Shriram Transport Finance spoke about the results and his outlook for the company.