Exclusive: Shriram Transport's MD and CEO Umesh Revankar speaks to Anil Singhvi on scrappage policy, fund raising and business outlook
In today’s episode of News Par Views show, Zee Business Managing Editor Anil Singhvi spoke to Umesh Revankar, Managing Director (MD) and Chief Executive Officer (CEO) of Shriram Transport Finance, one of the leading NBFC companies, which had started operations in 1979. The company has been there in the commercial vehicle financing sector for more than four decades. (#NewsParViews)
In today’s episode of News Par Views show, Zee Business Managing Editor Anil Singhvi spoke to Umesh Revankar, Managing Director (MD) and Chief Executive Officer (CEO) of Shriram Transport Finance, one of the leading NBFC companies, which had started operations in 1979. The company has been there in the commercial vehicle financing sector for more than four decades. (#NewsParViews)
On Shriram Transport’s plans to raise funds, Revankar said that fund raising regularly happens in finance business. The fund raising announced this time is to meet company’s lending targets for this quarter. The company has been able to successfully meets its lending targets over the years, he said.
See Zee Business Live TV Streaming Below:
The lending target in this quarter will be slightly higher than the last quarter. He said that the demand for credit is good in rural areas and the demand is coming from the infrastructure segment.
The company has assets worth 1.15 lakh cr on its balance sheet.
Watch Zee Business Tweet Video Below:
स्क्रैपेज पॉलिसी आने से 5-10 साल पुराने वाहनों को मिलेगी बेहतर कीमत...#NewsParViews में श्रीराम ट्रांसपोर्ट फाइनेंस के MD & CEO उमेश रेवणकर ने कहा- ई-कॉमर्स और FMCG में बढ़ी भारी वाहनों की मांग#NewsParViews #ShriramTransportFinance @AnilSinghvi_ pic.twitter.com/CwyIWjfX3Z
— Zee Business (@ZeeBusiness) March 4, 2021
Shriram Transport Business Outlook
The month-on-month sales is improving for the commercial vehicle segment. It will not be correct to make comparisons with the last year sales, he said. He said January and February months were good and March is also expected to remain good.
In the LCV (Light Commercial Vehicle) segment, the month-on-month and year-on-year sales are going strong, he further said.
On Scrappage Policy
Though there is no final word till now on the scrappage policy, there could be two scenarios, he said. There could be compulsory scrappage and voluntary scrappage. He said that the government could announce voluntary scrappage policy, now.
Under this, the government would discourage vehicles that are more than 15 years old. The company currently finances 5-10-year-old vehicles. Anybody who has a vehicle which is more than 10-years old will look for a younger vehicle instead of new vehicle. This will increase demand for credit and the resale value of vehicle between 5 and 10 years will go up significantly.
Shriram Transport’s business will gain from this, he said.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.
RECOMMENDED STORIES
SBI 444-day FD vs Union Bank of India 333-day FD: Know maturity amount on Rs 4 lakh and Rs 8 lakh investments for general and senior citizens
Power of Compounding: Salary Rs 25,000 per month; is it possible to create over Rs 2.60 crore corpus; understand it through calculations
New Year Pick by Anil Singhvi: This smallcap stock can offer up to 75% return in long term - Check targets
Power of Compounding: How many years it will take to reach Rs 2 crore corpus if your monthly SIP is Rs 3,000, Rs 4,000, or Rs 5,000
Retirement Calculator: 40 years of age, Rs 50,000 monthly expenses; what should be retirement corpus and monthly investment
03:12 PM IST