30 April, 2010

Unaudited Financial Results for the Quarter ended on 31st March 2010

Thursday, 29th April, 2010, Mumbai : The Board Meeting of Shriram Transport Finance Company Limited (STFC), the largest asset financing NBFC in the country, was held today to consider the audited financial results for the year ended 31st. March, 2010.

Financials (Standalone) :
Fourth Quarter ended 31st. March, 2010 :
The revenues for the fourth quarter ended 31st March, 2010 surged by 24.55% to Rs. 1,229.24 crores as against Rs. 986.92 crores of the same period previous year. The profit after tax rose by 71.86% to Rs. 264.42 crores as against Rs. 153.86 crores recorded in the same period earlier year. The earning per share (basic) also surged by 58.07% to Rs. 11.95 from Rs. 7.56 recorded in the same period earlier year. Year ended 31st. March, 2010 :
The revenues for the year ended 31st March, 2010 surged by 20.60% to Rs. 4,499.64 crores as against Rs. 3,731.14 crores of the previous year. The profit after tax rose by 42.57% to Rs. 873.12 crores as against Rs. 612.41 crores recorded in the earlier year.

Earning Per Share :
The earning per share (basic) for the year ended also surged by 36.43% to Rs. 41.08 from Rs. 30.11 recorded in the earlier year.

Dividend :
STFC has proposed a final dividend of Rs.4/- per share. This is in addition to the interim dividend of Rs. 2/- per share declared at the Board Meeting held on 28th October, 2009 making the total dividend of Rs. 6/- per share as against the total dividend of Rs. 5/- per share paid for 2008 - 09.

Assets under Management :
Total Assets under Management as on 31st March, 2010 increased by 25.11% to Rs. 29,126 crores as compared to Rs. 23,281 crores as on 31st March, 2009.

CRISIL Rating :
On 27th. April, 2010, CRISIL has assigned its ratings of ‘AA’ for Long Term, ‘FAA+’ for Fixed Deposits, ‘AA’ for Subordinated Debt, ‘AA’ for Bank borrowings and reaffirmed its rating of ‘P1+’on short term debt programme of the company. The ratings reflect the company’s strong market position in the pre-owned commercial vehicle finance segment, healthy capitalization, stable asset quality, and healthy earning profile.

About Shriram Transport Finance Company Limited.
Shriram Transport Finance Company Limited is the flagship company of the Shriram group which has 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 small truck owners for every possible need related to their assets. It has PAN India presence with 484 branch offices. Based at Mumbai, it manages assets over Rs 29,000 crores and has a live customer base exceeding 7,00,000.

For Further information, please contact:

Mr. Sanjay K. Mundra

Vice President

Shriram Transport Finance Company Ltd.

Wockhardt Towers,
3rd Floor, West Wing, G Block,
Bandra-Kurla Complex,
Bandra (East),
Mumbai - 400051.
Email:
Telephone: 022-40959595