Shriram Transport Finance Targets AUM Growth of 10-12% in Fiscal Year 22

Shriram Transport Finance Targets AUM Growth of 10-12% in Fiscal Year 22

The non-bank lender’s collections improved to 103 per cent in the fourth quarter of FY21 from 97 per cent in December 2020.
“We have kept a target of 10-12 per cent growth in our AUM in FY22. We feel that there is enough pent-up demand. Even though the demand is temporarily getting postponed because of the surge in COVID-19 cases, it will come back by June,” Revankar said.

Revankar said disruptions caused due to the restriction in movements imposed by several states to stem a surge in COVID-19 cases may have a short-term impact on collections but will normalise by June.
Source economictimes.indiatimes.com

For fiscal 2020-21, PAT stood at Rs 2,487.26 crore as against Rs 2,501.84 crore in FY2019-2020.

In the quarter ended March 31, 2021, the lender’s profit after tax stood at Rs 754.93 crore as against Rs 223.38 crore in the year-ago quarter. “Collections may be temporarily down in May and April but by June things should become normal. There are no restrictions on transportations of goods and agriculture activities and so, I don’t see any challenge as far as business is concerned,” he said.

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