Shriram Transport Finance Board Elevates Mr. Lakshminarayanan as Chairman

Shriram Transport Finance Company Ltd. (STFC), the largest asset financing NBFC in India, announced the election of Mr. S. Lakshminarayanan as Chairman by the Board of Directors of the company in the board meeting held at Colombo on January 24, 2015.

Mr. Lakshminarayanan has been Independent Director of STFC, since September 2009.

A retired IAS officer, Mr. Lakshminarayanan had an illustrious career in the civil services and held several senior positions such as Secretary to Government of India, Ministry of Home Affairs. He was also worked as Principal Secretary, Joint Secretary, Additional Secretary in the various other Ministries of Government of India including the Department of Information and Technology in the Ministry of Communications, Ministry of Information and Broadcasting. In the state of Madhya Pradesh, he worked as Principal Secretary in the Department of Tourism, Culture and Public Relations, Department of Mines, Mineral Resources, Revenue and Relief and Rehabilitation.

Mr. S. Lakshminarayanan, Chairman, Shriram Transport Finance Company Limited

During his long innings in the government, he had been on the board of directors of several public sector undertakings. He was India’s representative in the World Intellectual Property Organisation, Geneva dealing with protection of Intellectual Property Rights in the audio-visual media for 5 years. He was Vice-Chairman of International Programmes on development of communications in UNESCO’s Bureau at Paris for 5 years.

He holds Master Degree in Science in Chemistry and Post Graduate Diploma from University of Manchester (U.K.) in Advanced Social & Economic Studies. He also holds an Honorary Doctorate on Federalism from University of Mexico.

Commenting on his appointment Mr. Lakshminarayanan Subramanian, Chairman, STFC said, “Being elevated as the Chairman of Shriram Group’s flagship company brings in further responsibility and I am fully driven to contribute to the future growth and profitability of our company”.

Mr. Umesh Revankar, MD, STFC commented, “Mr. Lakshminarayanan has been associated with Shriram Group for a long period in the capacity of Independent Director and Chairman of various committees of the board. Our company will continue to be immensely benefited from his rich and wide experience, guidance, expertise and able leadership”.

STFC, which also declared its December quarter results, saw its total assets under management increased 6 per cent to Rs 60,328.95 crore compared to Rs 56,883 crore in the same period last year. The consolidated net interest income too jumped 9.55% to Rs 1,106.27 crore compared to Rs 1,009.81 crore in the same period last year. The profit after tax stood at Rs. 321.27 crore in Q3FY15 as against Rs. 324.85 crore.

About Shriram Transport Finance Company (STFC):

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 719 branch offices. Based at Mumbai, it manages assets over Rs 57,000 crores and has a live customer base exceeding 11 lacs.

Company is listed on both National Stock Exchange and Bombay Stock Exchange.