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Nirmal Bang Report
We hosted Shriram Transport Finance Company Ltd. as part of our annual investor conference. The key highlights of the call are–
expect merger between Shriram Transport Finance, Shriram City Union Finance Ltd. and Shriram Capital Ltd. to be completed by October-November 2022,
expect combined entity (Shriram Transport Finance plus Shriram City Union Finance) to report combined assets under management growth of 15% for FY23,
the non-banking financial company may continue to follow November-12 circular on non-performing asset recognition despite the extension in deadline to September 2023,
credit costs for Q4 FY22 expected at ~2%,
cost of fund likely to improve by 20- 25 basis points over the next two quarters as 85-90% of the borrowings are fixed in nature.
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