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SHRIRAM TRANSPORT FINANCE COMPANY …

SHRIRAM TRANSPORT FINANCE COMPANY LIMITEDI34TH ANNUAL REPORT 2012-13 ContentsCORPORATE INFORMATION1 ABOUT US2 PERFORMANCE IN NUMBERS4 ANNUAL PERFORMANCE TRENDS5 OUR REACH6 MANAGEMENT DISCUSSION & ANALYSIS8 RISK MANAGEMENT14 DIRECTORS REPORT16 REPORT ON CORPORATE GOVERNANCE24 CERTIFICATE ON CORPORATE GOVERNANCE44 BUSINESS RESPONSIBILITY REPORT45 FINANCIAL SECTIONS 59 FORWARD LOOKING STATEMENTSIn this Annual Report, we have disclosed forward looking information to enable investors to comprehend our prospects and take in-formed investment decisions. This report and other statements written and oral that we periodically make, contain forward looking statements that set out anticipated results based on the management s plans and assumptions.

STFC is listed on the Bombay Stock Exchange (stock code: 511218) and the National Stock Exchange (stock code: SRTRANSFIN). …

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Transcription of SHRIRAM TRANSPORT FINANCE COMPANY …

1 SHRIRAM TRANSPORT FINANCE COMPANY LIMITEDI34TH ANNUAL REPORT 2012-13 ContentsCORPORATE INFORMATION1 ABOUT US2 PERFORMANCE IN NUMBERS4 ANNUAL PERFORMANCE TRENDS5 OUR REACH6 MANAGEMENT DISCUSSION & ANALYSIS8 RISK MANAGEMENT14 DIRECTORS REPORT16 REPORT ON CORPORATE GOVERNANCE24 CERTIFICATE ON CORPORATE GOVERNANCE44 BUSINESS RESPONSIBILITY REPORT45 FINANCIAL SECTIONS 59 FORWARD LOOKING STATEMENTSIn this Annual Report, we have disclosed forward looking information to enable investors to comprehend our prospects and take in-formed investment decisions. This report and other statements written and oral that we periodically make, contain forward looking statements that set out anticipated results based on the management s plans and assumptions.

2 We have tried wherever possible to identify such statements by using words such as anticipate , estimate , expects , projects , intends , plans , believes , and words of similar substance in connection with any discussion of future cannot guarantee that these forward looking statements will be realised, although we believe we have been prudent in assump-tions. The achievement of results is subject to risks, uncertainties and even inaccurate assumptions. Should known or unknown risks or uncertainties materialise or should underlying assumptions prove inaccurate, actual results could vary materially from those antici-pated, estimated or projected.

3 Readers should bear this in undertake no obligation to publicly update any forward looking statements, whether as a result of new information, future events or OF DIRECTORSC hairman (Non Executive)Arun Duggal Managing DirectorUmesh Revankar DirectorsMaya Shanker Verma (Independent)Sumatiprasad M. Bafna (Independent)S. Lakshminarayanan (Independent)Puneet BhatiaRanvir DewanR. Sridhar ( May 08, 2012)Amitabh Chaudhry (Independent) ( October 30, 2012)Kishori Udeshi (Independent) ( October 30, 2012)S. Venkatakrishnan (upto May 08, 2012) (Independent-upto July 05, 2012)Adit Jain (Independent-upto July 05, 2012) COMPANY SECRETARYV ivek Achwal AUDITORSM/s.

4 S. R. Batliboi & , Chartered AccountantsM/s. G. D. Apte & Co., Chartered AccountantsSHARE TRANSFER AGENTSI ntegrated Enterprises (India) Limited2nd Floor, Kences Towers , No. 1,Ramakrishna Street,North Usman Road, T. Nagar,Chennai - 600 : 044 2814 0801/02/03 Fax: 044 2814 2479 REGISTERED OFFICEM ookambika Complex, 3rd Floor, No. 4, Lady Desika Road, Mylapore,Chennai 600 OFFICEW ockhardt TowersWest Wing, Level-3, C-2,G-Block, Bandra-Kurla Complex, Bandra (East),Mumbai - 400 051, : 022 4095 9595 Fax: 022 4095 9597 LISTED ATNational Stock exchange of India Insurance Corporation of India (LIC)Small Industries Development Bank of India (SIDBI)

5 GE Capital Services LtdIDFC LtdBANKERSAbu Dhabi Commercial BankAllahabad BankAndhra BankAustralia and New Zealand Banking Group LtdAxis BankBarclays Bank PLCBank of America of Bahrain & Kuwait of BarodaBank of CeylonBank of IndiaBank of MaharashtraBank of Tokyo - Mitsubishi UFJC anara BankCentral Bank of IndiaCitibank Union BankCorporation BankCredit Suisse Group AGDBS BankDena BankDeutsche Bank AGDevelopment Credit BankDhanlaxmi BankHDFC BankHongkong and Shanghai Banking CorporationICICI BankIDBI BankIndian BankIndian Overseas BankIndusInd BankING Vysya BankJP Morgan Chase Bank BankKarur Vysya BankKotak Mahindra BankLakshmi Vilas BankMizuho Corporate BankOriental Bank of CommercePunjab & Sind BankPunjab National BankShinhan BankSociete Generale Corporate & Investment BankingStandard Chartered BankState Bank of Bikaner & JaipurState Bank of HyderabadState Bank of IndiaState Bank of MauritiusState Bank of MysoreState Bank of PatialaState Bank of TravancoreSyndicate BankTamilnad Mercantile BankThe Federal BankThe Jammu & Kashmir BankThe Ratnakar BankThe South Indian BankUBS AGUCO BankUnion Bank of IndiaUnited Bank of IndiaVijaya BankYes BankCORPORATE INFORMATIONA nnual Report 2012-13

6 Established in 1979, STFC has evolved into largest asset s nancing Non Banking FINANCE COMPANY having ~25% market share in pre-owned and ~6% share in new commercial vehicles s nancing. ABOUT USE t bli h d i 1979 STShriram TRANSPORT FINANCE COMPANY Limited (STFC) is the agship COMPANY of SHRIRAM Group a diversis ed group with interests in s nancial services, manufacturing, value added services, project development, engineering Services, pharmaceuticals, in Mumbai, STFC has played a credible role in s nancial inclusion of millions of s rst time users (FTUs) and driver-turned-owner (DTO) by offering affordable s nance on pre-owned commercial vehicles (CVs).

7 A professionally managed COMPANY , presently led by Mr. Umesh Revankar, Managing Director; STFC has fostered the culture of entrepreneurship across all levels in the organization. Presently, the COMPANY is driven by 16,000+ motivated entrepreneurs (including ~10,100 product/credit executives) championing a unique relationship-based business model through a pan-India network comprising 539 branches, 350 rural centers and partnerships with ~500 private s TRANSPORT FINANCE COMPANY Limited2 STFC is listed on the bombay Stock exchange (stock code: 511218) and the National Stock exchange (stock code: SRTRANSFIN).

8 Its market capitalization as on March 31, 2013 stood at Rs. 15,770 cr.+.STFC s subsidiary - SHRIRAM Equipment FINANCE COMPANY Limited offers affordable s nancing of pre-owned and new construction equipment; Another subsidiary SHRIRAM Automall India Limited owns, operates and manages Automall to provide facilitation services to potential buyers and sellers of pre-owned commercial vehicle. It presently operates 21 Automalls across , being a pioneer in pre-owned CV segment, has institutionalized its expertise in loan origination, valuation and collection. Over the years, STFC has created an ecosystem of empowerment by expanding its products and services to encompass similar asset classes (pre-owned and new commercial and passenger vehicles, tractors, 3 wheelers, multi-utility vehicles, etc.)

9 And ancillary services ( FINANCE for working capital, engine replacement, bill discounting, credit cards and tyre-loans as holistic s nancing support).ABOUT US (Contd.)Annual Report 2012-133 PERFORMANCE IN NUMBERSCONSOLIDATED BASISSTANDALONE BASISA ssets under management crossed ,000 crore-markTotal income up by % to , croreNet pro t up by % to ,463 croreNet interest income up by to , croreEarnings per share up by to for the year 2012-13 crossed ,500 croreTotal income up by % to , croreNet pro t up by % to , croreNet interest income up by to , croreEarnings per share up by to TRANSPORT FINANCE COMPANY Limited4 ANNUAL PERFORMANCE TRENDS STANDALONE (BASIC) (Rs.)

10 NPA (%) GROSS NPA NET NPA3, , , , , INCOME (Rs. crore) ON BOOKS OFF BOOKS2008-092009-102010-112011-12 17, 23, 29, 36, , , , , , , , 17, 19, 21, 31, 2012-1301000020000300004000050000 ASSETS UNDER MANAGEMENT (Rs. crore) , , , PROFIT (Rs. crore)1, , , , , INTEREST INCOME (Rs. crore)Annual Report 2012-135 AADILABADADONIAGARTALAAGRAAHMEDABADAHMED NAGARAJMERAKOLAALAPPUZHAALIGARHALLAHABAD ALWARAMALAPURAMAMARAVATIAMBALAAMBIKAPURA MRELIAMRITSARANAKAPALLEANANATHAPURANANDA NCHALANGAMALYANGULARAKONAMARANIARIYALURA RRAHASANSOLATTURAURANGABADAZADPURBBACHHE LIBADDIBAGALKOTBALASOREBALGHATBANKURABAN SWARABARAMATIBARASATBARDOLIBAREILLYBARME RBARODABASAVAKALYANBATLAGUNDUBEEDBEGUSAR AIBEHRAICHBELGAUMBELLARYBENGALURUBERHAMP URBETULBHAGALPURBHANDARABHARATPURBHARUCH BHATINDABHAVANIPURAMBHAVNAGARBHILAIBHILW ARABHIMAVARAMBHIWANDIBHIVANIBHOPALBHUBAN ESWARBHUJBIDARBIJAPURBIJNOREBIKANERBILAS HPURBILASPURBIORABIRBHUMBOKAROBONGAIGAON BUNDIBURDWANBURHANPURCCALICUTCHALLAKEREC HAMARAJNAGARCHANDAN NAGARCHANDAPURACHANDIGARHCHANDIKHOLCHAND RAPURCHANNAPATNACHANNARAYAPATNACHATTARPU RCHENGALPATTUCHENNAICHICKBALLAPURCHIDAMB ARAMCHIKKAMANGALORECHIKODICHINCHWADCHIND WARACHIPLUNCHITRADURGACHITTORECHITTORGAR HCHOWTUPPALCOIMBATORECOOCHBEHARCUDDALORE CUDDAPAHCUMBUMCUTTACKDDAHODDARBHANGADAUS ADAVANGEREDEEPIKADEHRADUNDEOGHARDEWASDHA MTARIDHANBADDHARDHARMAPURIDHARWADDHULEDI NDIGULDURGAPUREELURUERNAKULAMERODEETAWAH FFAIZABADFARIDABADFARUKHABADFATHEPURGGAD AGGADHINGLAJGADWALGAJUWAKAGANDHIDHAMGANG ANAGARGANGAVATHIGANGTOKGAYAGOBICHETTIPAL AYAMGODHARAGODHAVARIKHANIGONDIAGORAKHPUR GUDIVADAGUDIYATHAMGUDURGULBARGAGUMMIDIPO ONDIGUNAGUNTURGURGAONGUWAHATIGWALIORHHAL DWANIHANMANAHANUMANGARHHARIHARAHASSANHAV ERIHAZARIBAGHHIMAYATHNAGARHIMMATNAGARHIN DUPURHISARHODALHOOGHLYHOSHANGABADHOSPETH OSURHUBLIHYDERABADIILKALINDOREITCHAPURAM JJABALPURJAGADAMBAJAGDALPURJAIPURJAISALM ERJAJPURJALANDHARJALGAONJALNAJAMKHAMBHAL IAJAMMUJAMNAGARJAMSHEDPURJANJGIRJHALAWAR JHANSIJHARSUGUDAJHUNJHUNUJODHPURJORHATJU NAGADHJYEPOREKKADIRIKAITHALKAKINADAKALLA KURICHIKALYANKANCHANGADKANCHIPURAMKANGRA KANKAVALIKANNURKANPURKARADKARAIKUDIKARIM NAGARKARNALKARURKASARAGODKATHUAKATNIKATT APPANAKATTEDANKAWARDHAKAYAMKULAMKEONJHAR KHAMGAONKHAMMAMKHANDWAKHARAGPU


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