4

Market Leader in High-Yield Pre-Owned CV Financing

q  Shriram Transport Finance Company Limited (STFC) is one of the largest asset financing NBFC with approximately 20-25% market share in pre-owned and approximately 7-8% market share in new truck financing

q  Strategically present in high yield - pre-owned CV financing with expertise in loan origination, valuation and collection

q  Expanded product portfolio to include financing of tractors, small commercial vehicles, 3-wheelers, passenger commercial vehicles and construction equipment

q  Large customer base in excess of 0.85 mn as of March 31, 2012

q  Employee strength of approximately 15,057 including 8,155 product/credit executives as of March 31, 2012

q  Listed on the National Stock Exchange and Bombay Stock Exchange with a market capitalisation of over Rs. 132 bn

q  Equity investment from reputed private equity and institutional investors including TPG

Operating Revenue Break Up

FY11 – Rs. 54.00 bn

Extensive Distribution Network Large Assets Under Management ( as on March 31, 2012)

q  Total Assets Under Management (AUM) of Rs. 402.14 bn

●  Pre-Owned CV: Approximately Rs. 310.42 bn

●  New CV: Approximately Rs. 90.86 bn

●  Others: Approximately Rs.0.86bn

q  Pan-India presence through a network of

●  502 branch offices

q  Partnership with over 500 Private Financiers

70.5

29.0%

0.5

64.4%

35.5%

0.1%

FY12 – Rs. 58.89 bn

Fund Based Income from Securitisation Fee Based

5

Corporate History

2009

2005-06

2002-04

1999

1984

1979

q  Successfully placed Rs. 10 bn of NCD with domestic investors q  Purchased hypothecation loan outstandings of commercial

vehicles and construction equipments of GE Capital Services India and GE Capital Financial Services (GE) aggregating to approximately Rs. 11 bn

q  Merger of Shriram Investment Ltd. and Shriram Overseas Finance Ltd. With STFC ; PAT crosses Rs. 1,000 mn (2006)

q  Investment from ChrysCapital (2005) and TPG (2006)

q  Preferential Allotment to Citicorp Finance (India) in 2002 q  Preferential Allotment to Axis Bank and Reliance Capital in 2004

q  Tied up with Citicorp for CV financing under Portfolio Management Services (PMS) q  The 1st securitization transaction by STFC

q  Initial Public Offering

q  STFC was established

AUM: Rs. 2.44 bn

AUM: Rs 402.14 bn As of March 31, 2012

1990 q  Investment from Telco & Ashok Leylond

q  Securitised Rs. 87.57 bn during FY 2010. q  Successfully raised Rs. 5.84 bn through QIP with

domestic & international investors.

2010

6

Unique Business Model

CV Financing Business Model

Pre Owned (5-12 Years Old CVs) New

Owned Funds Average core lending business yields 18-24%

Owned Funds Average core lending business yields 15-16%

Securitization Average back-stop funding - Net spread: 5-6%

Target Segment q  Small truck owners (less than 2-3 trucks) with underdeveloped banking habits

Market Share q  Leadership position with a market share of 20-25%

Performance q  AUM of approximately Rs. 310.42 bn at the end of FY12

q  Existing customer base upgrading to new trucks

q  7-8%

q  AUM of approximately Rs. 90.86 bn at the end of FY12

FY07 FY08 FY09 FY10 FY11 FY12

LCV 275,600 215,912 200,699 287,777 361,846 460,831

MHCV 247,040 274,582 183,495 244,944 323,059 348,701

Total 522,640 490,494 384,194 532,721 684,905 809,532

Vehicles sold during FY07-12

With a Strong Financial Track Record

12,116.3 17,277.5

22,175.5

29,078.5 32,261.4

0 3,000 6,000 9,000

12,000 15,000 18,000 21,000 24,000 27,000 30,000 33,000 36,000

2008 2009 2010 2011 2012

27.74% CAGR

Net Interest Income

(Rs mn)

3,898.2

6,124.0

8,731.1

12,298.8 12,574.6

0 1,000 2,000 3,000 4,000 5,000 6,000 7,000 8,000 9,000

10,000 11,000 12,000 13,000 14,000

2008 2009 2010 2011 2012

Net Profit

(Rs mn)

20.26

30.11

41.09

54.49 55.59

0 6

12 18 24 30 36 42 48 54 60

2008 2009 2010 2011 2012

EPS

(Rs)

28.70% CAGR

25,073.0

37,299.7 44,955.4

54,010.5 58,938.8

0 7,000

14,000 21,000 28,000 35,000 42,000 49,000 56,000 63,000

2008 2009 2010 2011 2012

Total Income

(Rs mn)

7

Driven by Fast Growth in AUM with Low NPAs

0.9% 0.8% 0.7%

0.4%

0.4%

1.6%

2.1%

2.8% 2.6%

3.1%

0.0%

0.5%

1.0%

1.5%

2.0%

2.5%

3.0%

3.5%

FY'08 FY'09 FY'10 FY'11 FY'12

Net NPA Gross NPA

NPA Levels 151.4% 179.6% 179.8% 198.7% 219.9%44.0%

53.6%111.8%

163.2% 182.3%

-20%20%60%

100%140%180%220%260%300%340%380%420%

2008% 2009% 2010% 2011% 2012%

Off-Books% On-Books%

19.77% CAGR

AUM (Rs bn)

8

10

Strengths

1 Widespread Geographical Reach

2 Valuation Skills & Recovery/Collection Operation

3 Strong Balance Sheet

4 Strong Management Team

5 Organizational Structure: Credit Risk Focus

6 Strengthening Presence and Expanding Reach

11

Branch Locations Across India

States with STFC Presence

502 Branch Offices

Tie up with Over 500 Private Financiers

15,057 Employee including 8,155 Field Officers

Pan-India Presence

As on March 31, 2012

Regional Split of Branches

South East, 139

South West, 88

West, 86

North, 81

Central, 56

East, 52

Geographical Reach & Proximity to the Customer 1

12

Valuation Skills & Recovery/Collection Operation: Leveraging on Relationships

q  Valuation Skills: ●  Considerable expertise in valuation

of pre-owned trucks

●  Valuation skills is critical to succeed in this space given that the amount of loan, EMI and a truck operator’s ability to repay rests on the value of the truck

q  Recovery/Collection Operation: ●  Due to underdeveloped banking

habits of small truck operators, a large part of monthly collections is in the form of cash

●  Compulsory monthly visits to borrowers by field officers help in managing large cash collections

●  Continuous monitoring of disbursed loans

Field Officers Vast Customer Base

Knowledge & Relationship based Recovery Procedure

In-house Administered Loan Recovery

2 Knowledge driven valuation model

Experience in credit appraisal & recovery/collection operations has lead STFC to become one of the leading organized players in the sector

Vehicle Assessment 60%-70% Loan-to-Value

Ratio – Old CVs 75%-85% Loan to Value

Ratio – New CVs

13

Healthy Asset Quality

Prudent Credit Norms NPA Levels

q  Substituted formal credit evaluation tools, such as IT returns and bank statements, with personal understanding of the customers’ proposed business model

q  Client and truck-wise exposure limits

Reasons for Low Delinquency

q  Asset backed lending with adequate cover

q  Assets are easy to repossess with immediate liquidity

q  Target segment generally operates on state highways and short distances, ferrying essential commodities

0.9% 0.8%

0.7%

0.4% 0.4%

1.6%

2.1%

2.8%

2.6%

3.1%

0.0%

0.5%

1.0%

1.5%

2.0%

2.5%

3.0%

3.5%

FY08 FY09 FY10 FY11 FY12

Net NPA Gross NPA

3

Incentive Schemes

q  Well-defined incentive plan for field officers to ensure low default rates

q  Field officers are responsible for recovery of loans they originate

Over 85% coverage between Gross/Net NPA as on March 31, 2012

14

Has Attracted Strong Interest from Quality Investors

q  Consistent track record and high growth potential has attracted reputed institutional and private equity investors to infuse growth capital

q  Last fund raising : Allotted 11.658 mn equity shares at Rs. 500.80 per share to Qualified Institutional Buyers (QIB) for an aggregate sum of Rs. 5.84 bn resulting in a dilution of around 5.20% to 45 marquee global as well as domestic funds and insurers, which included 22 existing investors and the rest, new investors on January 28, 2010

q  Capital Adequacy ratio as of March 31, 2012 : 24.26 %

Large Investments by major Institutional and Private Equity Investors

Key Shareholders* Current Shareholding (Mn Shares) % age

Shriram Holdings Madras Pvt. Limited(1) 93.37 41.26

Genesis Indian Investment Company 16.81 7.43

Shriram Capital 9.91 4.38

ICICI Prudential Life Insurance Company 6.73 2.97

Ontario Teachers 4.30 1.90

Stiching Pensioenfonds ABP 3.95 1.74

Merril Lynch Capital Market 3.13 1.38

Equinox Partners 3.08 1.36

Fidelity Investment Trust 2.34 1.04

Public & Others 82.68 36.54

Total 226.30 100.00

3

*As on March 31, 2012

(1) TPG Newbridge has a stake in Shriram Holding Madras Pvt. Limited

15

Optimized Balance Sheet : Access to Low Cost Funds

q  Strategic mix of retail deposits and institutional funding

q  Average cost of funds declined over the years with increase in Bank/ Institutions liabilities

q  Access to fixed rate long term loans of 3 - 5 years due to strong relationships with public, private sector, foreign banks and institutions

Borrowings

Securitization

q  Securitization of loan book at regular intervals to fund new originations and maintain growth momentum.

q  Securitized assets portfolio stands at Rs. 182.26 bn at the end of FY12

q  Conservative recognition of income on account of amortization of securitization income over the tenor of the agreements

Improved Funding Mix as % of Overall Liabilities

16% 16% 18%22% 21%

84% 84% 82%78% 79%

0%

20%

40%

60%

80%

100%

FY'08 FY'09 FY'10 FY'11 FY'12

Retail Banks/Institutions

Long term rating: AA+ from CARE & AA from CRISIL

Credit Ratings

Highest short term rating: F1+ from Fitch & P1+ from CRISIL

3

16

Strong Management Team

R. Sridhar Managing Director

Shriram Capial

q  Over two decades of experience in financial services sector, especially in commercial vehicle financing

q  Joined Shriram Group in 1985 and is serving as the Managing Director since September 2000 q  Elevated as Managing Director of Shriram Capital w.e.f 01/04/2012

q  Fellow member of the Institute of Chartered Accountants of India

4

Umesh Revenkar Managing Director

q  Joined as an Executive Trainee in 1987 and looks after operations of the CV finance business

q  Holds a degree in MBA Finance

Parag Sharma CFO

q  Over 19 years experience in finance industry

q  Joined in 1992 and now heads the Finance function, a qualified Cost Accountant

Sanjay K Mundra Vice President –

Investor and Media Relations

q  Over 19 years experience in the finance Industry

q  Joined in 2007, a qualified Company Secretary

Vinay Kelkar Executive Director

q  Over 27 years experience and 15 years of experience in finance industry

q  Joined in 1995 and now heads the Compliance and Accounts function, a qualified Chartered Accountant & Cost Accountant

S. Sunder Senior Vice President

q  Over 19 years experience in finance industry

q  Joined in 1995 and now heads the Accounts and Administration function, a qualified Cost Accountant

17

Board of Directors 4

Arun Duggal Chairman

q  Experienced International Corporate Business Advisor on financial strategy, M&A and capital raising q  Held important positions in Bank of America during his 26 years’ tenure at various locations

q  Presently, Director on board of Jubilant Energy Ltd., Patni Computers, Fidelity Fund Management, InfoEdge, LNG Petronet, Dish TV India, Hertz (India), Shriram Properties, Shriram City Union Finance , Shriram EPC Ltd. etc

R Sridhar Director

q  Over two decades of experience in financial services sector, especially in commercial vehicle financing q  Joined Shriram Group in 1985 and is serving as the Managing Director since September 2000

q  Holds directorship in other Shriram Group companies

q  Fellow member of the Institute of Chartered Accountants of India

Adit Jain Director

q  Currently Managing Director of IMA India and a Non-Executive Director on the Board of Sanmar Group, International Assets Reconstruction Company and PR Pundit

q  Holds degrees in Mechanical Engineering and Business Administration

Mayashankar Verma

Director

q  Former Chairman of State Bank of India, with nearly five decades of experience in Indian financial sector q  Held various critical positions as Advisor to RBI, Chairman IDBI Bank and Chairman TRAI

Umesh Revenkar Managing Director

q  Joined as an Executive Trainee in 1987 and looks after operations of the CV finance business

q  Holds a degree in MBA Finance

18

Board of Directors (Contd.) 4 Mukund Manohar

Chitale Director

q  Practicing Chartered Accountant. Former President of Institute of Chartered Accountants of India q  Serves as Director on the Boards of L&T Ltd, ASREC (India) Ltd, Ram Ratna Wires Ltd, ONGC, Mangalore

Petrochemicals Ltd. and Itz Cash Card Ltd

Puneet Bhatia Director

q  Partner of TPG Capital and country Head – India for TPG’s Asian Business q  Former Chief executive of the Private Equity Group for GE Capital India

q  Holds a degree in Commerce and an MBA from IIM, Calcutta

Subramanian Laksminarayanan

Director

q  Member of Indian Administrative Services (IAS – retired) q  Served at senior positions in the Ministry of Home Affairs, Ministry of Communication & IT etc.

Ranvir Dewan Director

q  Senior Principal and Advisor to TPG Newbridge Capital q  Fellow member of the Institute of Chartered Accountants in England & Wales and a member of the Canadian

Institute of Chartered Accountants

Sumatiprasad M Bafna

Director

q  Has extensive experience in the transportation business q  He currently serves on the board of directors of Seva Finance Ltd, Seva Transport Pvt. Ltd, Isuta

Electronics (India) Ltd, Bafna Motors (Ratnagiri) Pvt Ltd, Kishore Transport Services Pvt. Ltd.

19

Clearly Demarcated Responsibilities

q  Field Offices:

●  Direct contact with customers for vehicle inspection & primary valuation, sales-lead generation, and collection & repossession in the case of default

q  Branch Officer (502 Branches) :

●  Deciding the credit worthiness of individuals and arranging the necessary documentation

●  Each branch has ~15-20 employees, 8-10 field officers, 6-8 support staff

5 Organizational Structure: Credit Risk Focus

National Product Heads Operations Head National Credit Risk Head

Credit Cell

Regional Product Heads Regional Business Heads Regional Credit Risk Head

Credit Cell

Branch Heads Credit Risk Head Credit Cell

Product Executives / Credit Executives

20

6 Strengthening Presence and Expanding Reach

Core Business q  Leverage the large pan-India network to enhance reach in North & East India, particularly in large

CV hubs

q  To increase market share in pre-owned CV market

Expanding the Pre-Owned CV Segment

q  Introduce top-up products such as finance for tyres, working capital and engine replacement

Leveraging Private Financiers

q  Build partnership with private financiers in the unorganized market to leverage their local knowledge to enhance market share

q  Partnered with more than 500 private financiers as of March 31, 2012

Axis Bank co-branded credit

cards

q  Tied up with Axis Bank to distribute credit cards to small truck owners

q  Distributed over 2,40,000 credit cards as of March 31, 2012

21

Strengthening Presence and Expanding Reach (Contd.) 6

Freight Bill Discounting q  Estimated market size of Rs. 60-70 bn with higher yields than the existing CV financing business.

Passenger Commercial

Vehicle Financing

q  Estimated market size of Rs. 200 bn for FY12 backed by growth in population and an improving

road infrastructure

Tractor Financing q  Market experiencing growth with increasing policy thrust on agricultural mechanization.

q  The used tractor financing market is estimated at Rs. 300 bn in FY12

Construction Equipment Financing

q  Market expected to grow at an annual rate of 22% to reach over Rs. 400 bn in 2012 driven by huge infrastructure spending during the 11th 5-Year Plan estimated at approximately Rs. 20 tn

q  This business would be through our 100% subsidiary Shriram Equipment Finance Company Ltd under an independent management which would focus on end-to-end equipment financing

Automall

q  Platform to facilitate buyers and sellers to meet for sale of pre-owned CVs, where Shriram Automall, 100% subsidiary can earn commission fees through its advisory services and STFC will provide financing to the buyer

q  Shriram Automall is creating a market for pre-owned trucks in organised and transparent manner and planning to create 50 – 60 such automall

STFCL

Increase Reach & Branding

New Innovative Products and

Tieups

Multiply Consolidated AUM over Rs 500 bn by

2013

Target to reach AUM over Rs 500 bn by FY13 6

Well Planed Strategy for Future Growth

22

Building Trust and Strengthening Relationship:

q  Unparalleled physical auction model in the country.

q  Opportunity for Sellers and Financial institutions to sell assets and realize the best value with bidding by 300 and more bidders in every auction.

q  8 Automalls in operation.

q  Over 1200 Auctions conducted, more than 45,000 assets sold and over 35,000 bidders bought assets.

q  AutoMalls in addition would be offering host of services like valuation, parking, financing etc.

q  Touch Screen Kiosks are Virtual Truck Bazaars-Buy & Sell as per convenience.

q  Facilitates Buyer and Sellers to purchase and sell vehicles at the Right price.

q  Kiosks available in 440 branches across the length and breadth of the country.

q  Over 50,000 Buyers and Sellers have benefitted from the innovative service.

AutoMalls

Touch Screen Kiosks

These initiatives would help STFC gain the Trust of those associated with theTransport and Equipment Industry

6

23

Quarterly Performance

"  Growth in total income driven by growth across key revenue streams: ü  Securitisation Income (net) up by17.1% to Rs 5,156.6 mn from Rs 4,404 mn (securitised asset portfolio of Rs

43,456 mn during Q4 FY’12)

"  Growing operating profits by 4.1% to Rs 6,528.8 mn from Rs 6,271.7 mn "  Decrease in PAT by 9.6% due to higher provisioning cost and decline in net interest margin by 35 basis point. but

increase in PAT by 1.77% to 3,080.5 mn from 3,026.8 mn (QnQ)

"  Healthy asset quality with Gross NPAs & Net NPA stood at 3.06% & 0.44% and the Net NPA in absolute amount stands at Rs. 977.2 mn (Coverage ratio maintained over 85%)

"  Employees reduced by 622 taking the total strength to 15,057 from 15,679 including 8,155 field officers

Performance Review Q4 FY’11 Vs. Q4 FY’12

Total Income Net Interest Income* EPS

7.4%

Rs 14,854.6 mn Rs 8,056.0 mn

9.6%

Rs 13.62

Rs 13,835.1 mn Rs 7,646.8 mn Rs 15.06

*including Securitisation Income

Rs 3,080.5 mn

PAT

5.4%

Rs 3,406.2 mn

9.6%

25

Driven by Growing AUM

Assets under Management (On books & Off books)

"   11.1% growth in total Assets under Management to Rs. 402.14 bn

Assets under Management (New & Pre-owned CVs)

"   77.2% of total Assets under Management in pre-owned CV to Rs 310.42 bn

1,98,656 2,19,878

1,63,170 1,82,261

0 50,000

1,00,000 1,50,000 2,00,000 2,50,000

Q4FY'11 Q4FY'12

On books Off books

Rs mn

88,300 90,857

2,72,561 3,10,424

0

1,00,000

2,00,000

3,00,000

4,00,000

Q4FY'11 Q4FY'12

New CVs Pre-Owned CVs

Rs mn

26

Supported by a Healthy Borrowing Profile

Borrowing Profile

Q4 FY’11 – Rs 198.74 bn Q4 FY’12 – Rs 231.22 bn

22.4%

77.6%

Retail Banks/Institutional

21.1%

78.9%

Retail Banks/Institutional

27

Modernization of trucking industry § Legislative pressure on banning trucks beyond 15 years is likely

to trigger replacement boom § Transport associations’ introduction of Voluntary Retirement

Scheme for old trucks with better financing options § Financing amount of Rs 1,078bn to be triggered through

replacement demand for 1.35mn new as well as pre-owned trucks

Sustained Growth Expected to Continue

§ CV Financing market size of Rs 1,850 bn § Shriram targets the largest market segment of 5-12 years,

accounting for 42% of the total market volume § Market for second hand truck financing is under penetrated

with 65-70% of the market with private financiers who charge high interest rates

Shriram Target Segment

Market Potential

12+ Yrs Rs 180 bn

5-12 Yrs Rs 750 bn

0-4 Yrs Rs 920 bn

Truck Profile (5.2 mn)

0-4 Yrs 38%

5-12 Yrs 42%

> 12 Yrs 20%

Stricter emission norms expected to generate huge demand for 5-12 year old trucks Growing freight capacity § GDP growth rate driving incremental freight capacity which is estimated to increase at 1.25 times of GDP growth.

Exponential Growth in CV Financing

Only Organised Player in the Pre-owned CV Financing Market

29

Transport Logistic Model to Stay – hub & spoke

STFC will benefit from Exponential growth in the vehicles required for Last Mile Transport-SRTO

q  Transport Industry maturing with the years.

q  Distribution solution providers changing the dimension of Transportation.

q  Rural and Semi Urban markets seeing higher growth rates across all products.

q  Better Road network seeing light of the day.

q  Competition and Emission standards driving manufacturer’s to launch Latest Technology International standard vehicles.

q  Last mile Transport pushing demand for Cargo LCV’s.

30

Shareholding Structure as on March 31, 2012

No. of shares outstanding: 226.30mn

Promoter & Promoter Group 45.6%

FII 39.2%

MF/ Banks 2.4%

Public 8.0%

Other Corporate Bodies 4.5% NRI/ OCBs

0.2%

32

Profit and Loss Statement

33

Rs mn Profit  &  Loss  Statement   Q4  FY'11   Q1  FY'12   Q2  FY'12   Q3  FY'12   Q4  FY'12   YoY  %   QoQ  %   FY'11   FY'12   YoY  %  Interest  Income    9,033.7      8,368.4      9,675.0      9,457.7      9,158.2     1.38%   -­‐3.17%    37,114.7      36,659.4     -­‐1.23%  Interest  expended    5,790.9      5,714.3      6,152.6      6,347.4      6,258.9     8.08%   -­‐1.39%    23,007.9      24,473.3     6.37%  Net  Interest  Income    3,242.8      2,654.1      3,522.4      3,110.3      2,899.3     -­‐10.59%   -­‐6.78%    14,106.8      12,186.1     -­‐13.62%  Income  from  SecuriAsaAon    4,603.7      5,483.9      4,989.2      5,031.7      5,429.8     17.94%   7.91%    15,850.1      20,934.6     32.08%      Less  :  SecuriAsaAon  Expenses    199.7      317.4      164.6      104.3      273.1     36.78%   161.98%    878.3      859.4     -­‐2.16%  Income  from  SecuriAsaAon  (Net)    4,404.0      5,166.5      4,824.7      4,927.4      5,156.6     17.09%   4.65%    14,971.8      20,075.3     34.09%  Net  Interest  Income  including  Income  from  SecurAsaAon    7,646.8      7,820.6      8,347.1      8,037.7      8,056.0     5.35%   0.23%    29,078.6      32,261.4     10.95%  Fees  for  trading    62.4      -­‐          -­‐          -­‐          -­‐         -­‐100.00%   0.00%    270.3      -­‐         -­‐100.00%  OperaAng  Income    7,709.2      7,820.6      8,347.1      8,037.7      8,056.0     4.50%   0.23%    29,348.9      32,261.4     9.92%  OperaAng  expenditure    1,549.4      1,677.7      1,787.6      1,866.5      1,782.3     15.04%   -­‐4.51%    6,373.3      7,114.1     11.62%  Core  OperaAng  Profit  (before  Provisions  &  ConAngencies)    6,159.8      6,142.9      6,559.5      6,171.2      6,273.6     1.85%   1.66%    22,975.6      25,147.3     9.45%  Other  Income    111.9      476.7      258.2      293.7      255.2     128.09%   -­‐13.11%    685.0      1,283.7     87.40%  OperaAng  Profit    6,271.7      6,619.6      6,817.7      6,464.9      6,528.8     4.10%   0.99%    23,660.7      26,431.0     11.71%  Provisions  for  Bad  Debts    1,217.5      1,356.2      2,318.2      1,933.3      1,953.4     60.44%   1.04%    4,683.1      7,561.0     61.45%  Provisions  against  Standard  Assets    (64.5)    63.7      45.1      (13.0)    (35.0)   -­‐45.78%   168.84%    488.2      60.8     -­‐87.54%  PBT    5,118.7      5,199.7      4,454.4      4,544.6      4,610.3     -­‐9.93%   1.45%    18,489.3      18,809.2     1.73%  Tax    1,712.5      1,726.7      1,460.3      1,517.8      1,529.8     -­‐10.67%   0.79%    6,190.5      6,234.6     0.71%  PAT    3,406.2      3,473.0      2,994.1      3,026.8      3,080.5     -­‐9.56%   1.77%    12,298.8      12,574.6     2.24%  EPS  (Rs)   15.06   15.36   13.24   13.38   13.62   -­‐9.56%   1.79%   54.49   55.59   2.02%  Total  CRAR  %*   24.85%   23.44%   23.80%   24.91%   24.26%   -­‐2.37%   -­‐2.58%   24.85%   24.26%   -­‐2.37%  Book  Value  (Rs)   215.22   230.59   243.30   253.96   263.05   22.22%   3.58%   215.22   263.05   22.22%  

Key  RaAos  (%)   Q4  FY'11   Q1  FY'12   Q2  FY'12   Q3  FY'12   Q4  FY'12   YoY  %   QoQ  %   FY'11   FY'12   YoY  %  Return  on  Avg.  Net  Worth   28.46%   27.36%   22.17%   21.35%   20.92%   -­‐26.51%   -­‐2.02%   27.94%   22.82%   -­‐18.33%  Return  on  Avg.  Assets   4.40%   4.31%   3.61%   3.60%   3.53%   -­‐19.80%   -­‐1.97%   4.20%   3.75%   -­‐10.60%  Interest  Coverage  RaAo    2.39      2.51      2.43      2.33      2.37     -­‐0.57%   1.83%    2.34      2.41     2.66%  

Balance Sheet

34

Rs mn Balance  Sheet   Q4  FY'11   Q1  FY'12   Q2  FY'12   Q3  FY'12   Q4  FY'12   YoY  %   QoQ  %   FY'11   FY'12   YoY  %  LiabiliAes                                          Shareholder  funds                                                  Equity  Capital    2,261.8      2,262.1      2,262.5      2,262.5      2,263.2     0.06%   0.03%    2,261.8      2,263.2     0.06%          Reserves    46,782.1      50,257.8      53,257.7      55,628.3      57,659.9     23.25%   3.65%    46,782.1      57,659.9     23.25%  Preference  Capital                                          Loans                                                Secured    1,48,693.8      1,43,172.0      1,65,092.8      1,75,664.1      1,78,057.1     19.75%   1.36%    1,48,693.8      1,78,057.1     19.75%        Unsecured    50,049.0      50,411.5      53,033.1      52,370.2      53,161.4     6.22%   1.51%    50,049.0      53,161.4     6.22%  Current  LiabiliAes    68,168.7      89,245.3      57,852.0      59,692.5      66,051.3     -­‐3.11%   10.65%    68,168.7      66,051.3     -­‐3.11%  Total    3,15,955.4      3,35,348.7      3,31,498.0      3,45,617.5      3,57,193.0     13.05%   3.35%    3,15,955.4      3,57,193.0     13.05%  Assets                                          Fixed  Assets    384.3      370.0      368.4      392.4      397.3     3.37%   1.24%    384.3      397.3     3.37%  Loans  &  Advances    1,548.8      1,711.5      2,111.7      2,057.7      1,622.3     4.75%   -­‐21.16%    1,548.8      1,622.3     4.75%  Cash  &  Bank  balances    36,251.1      62,567.8      39,559.7      37,923.6      53,808.7     48.43%   41.89%    36,251.1      53,808.7     48.43%  Investments    36,452.9      8,608.4      15,699.4      35,164.8      39,646.4     8.76%   12.74%    36,452.9      39,646.4     8.76%  Truck  receivables    1,97,690.0      2,21,273.7      2,42,090.9      2,35,991.5      2,19,019.0     10.79%   -­‐7.19%    1,97,690.0      2,19,019.0     10.79%  Deferred  Tax  Asset    1,536.9      1,732.3      1,799.3      1,970.3      2,166.7     40.98%   9.97%    1,536.9      2,166.7     40.98%  Current  Assets    42,091.4      39,085.0      29,868.6      32,117.2      40,532.6     -­‐3.70%   26.20%    42,091.4      40,532.6     -­‐3.70%  Total    3,15,955.4      3,35,348.7      3,31,498.0      3,45,617.5      3,57,193.0     13.05%   3.35%    3,15,955.4      3,57,193.0     13.05%  

Spread  Analysis   Q4  FY'11   Q1  FY'12   Q2  FY'12   Q3  FY'12   Q4  FY'12           FY'11   FY'12      Total  Income/  Avg.  total  assets   17.83%   17.76%   18.01%   17.56%   16.99%           18.40%   17.57%      Interest  cost/  Avg.  total  assets   7.50%   7.34%   7.48%   7.54%   7.22%           8.01%   7.39%      Gross  Spread   10.33%   10.42%   10.53%   10.02%   9.77%           10.39%   10.18%      NPA  provisioning/  Avg.  total  assets   1.57%   1.68%   2.80%   2.30%   2.24%           1.60%   2.26%      Provisioning  for  standard  assets/  Avg.  total  assets   -­‐0.08%   0.08%   0.05%   -­‐0.02%   -­‐0.04%           0.17%   0.02%      Overhead  Cost/  Avg.  total  assets   2.23%   2.22%   2.30%   2.34%   2.30%           2.32%   2.29%      Net  Spread   6.61%   6.44%   5.38%   5.40%   5.28%           6.30%   5.61%      

35

Details of Key Parameters (Profit & Loss Account)

ParAculars      

Q4   Q1   Q2   Q3   Q4   %   %   Year  ended  Year  ended   %  

FY  2010  11   FY  2011  12   FY  2011  12   FY  2011  12   2011  12   YoY   QoQ   FY  2011   FY  2012   YoY  

Total  Income    mn   13,835.1   14,244.4   15,039.3   14,800.3   14,854.6   7.37%   0.37%   54,010.5   58,938.8   9.12%  

Interest  Income    mn   9,033.6   8,368.4   9,675.0   9,457.7   9,158.2   1.38%   -­‐3.17%   37,114.7   36,659.4   -­‐1.23%  

SecuriAsaAon  Income    mn   4,404.0   5,166.5   4,824.7   4,927.4   5,156.6   17.09%   4.65%   14,971.8   20,075.3   34.09%  

Total  Interest  Income    mn   13,437.6   13,534.9   14,499.7   14,385.1   14,314.8   6.53%   -­‐0.49%   52,086.5   56,734.7   8.92%  

Less  :  Interest  Expenses    mn   5,790.9   5,714.3   6,152.6   6,347.4   6,258.9   8.08%   -­‐1.39%   23,007.9   24,473.3   6.37%  

Net  Interest  Income    mn   7,646.7   7,820.6   8,347.1   8,037.7   8,055.9   5.35%   0.23%   29,078.6   32,261.4   10.95%  

Other  Income    mn   111.9   476.7   258.2   293.7   255.2   128.06%   -­‐13.11%   685.0   1,283.7   87.40%  

Fee  for  Trading    mn   62.4   0.0   0.0   0.0   0.0   -­‐100.00%   0.00%   270.3   0.0   -­‐100.00%  

OperaAng  Income    mn   7,821.0   8,297.3   8,605.3   8,331.4   8,311.1   6.27%   -­‐0.24%   30,033.9   33,545.1   11.69%  

Cost  to  Income  RaAo   %   18.86   19.56   20.24   21.73   21.13   12.04%   -­‐2.76%   20.20   20.66   2.28%  

Profit  a`er  Tax    mn   3,406.2   3,473.0   2,994.1   3,026.8   3,080.5   -­‐9.56%   1.77%   12,298.8   12,574.6   2.24%  

EPS   Rs.    15.06      15.36      13.24      13.38      13.62     -­‐9.56%   1.79%    54.49      55.59     2.02%  

ROA   %    4.4    4.31      3.61      3.60      3.53     -­‐19.77%   -­‐1.94%    4.20      3.75     -­‐10.71%  

ROE   %    28.46      27.36      22.17      21.35     20.92   -­‐26.49%   -­‐2.01%    27.94      22.82     -­‐18.32%  

NIM  (on  AUM)   %    7.59      7.59      8.19      7.39      7.24     -­‐4.61%   -­‐2.03%    7.83      7.51     -­‐4.09%  

36

Details of Key Parameters (Balance Sheet)

ParAculars  

    Q4   Q1   Q2   Q3   Q4   %   %   Year  ended  Year  ended   %  

    FY  2010  11   FY  2011  12   FY  2011  12   FY  2011  12   2011  12   YoY   QoQ   FY  2011   FY  2012   YoY  

Asset  under  Management                                          

   -­‐  On  Books    mn    1,98,656.1      2,22,252.9      2,43,276.7      2,37,177.6      2,19,877.6     10.68%   -­‐7.29%    1,98,656.1      2,19,877.6     10.68%  

   -­‐  Off  Books    mn    1,63,170.2      1,47,719.3      1,37,487.2      1,55,418.3      1,82,261.4     11.70%   17.27%    1,63,170.2      1,82,261.4     11.70%  

Total  AUM    mn    3,61,826.3      3,69,972.2      3,80,763.9      3,92,595.9      4,02,139.0     11.14%   2.43%    3,61,826.3      4,02,139.0     11.14%  

Disbursement                                              

   -­‐  Used  CV    mn    44,842.6      37,089.9      37,830.8      41,703.9      39,838.7     -­‐11.16%   -­‐4.47%    1,49,239.4      1,56,463.3     4.84%  

   -­‐  New  CV    mn    17,169.7      10,752.1      10,113.1      7,565.6      9,964.7     -­‐41.96%   31.71%    49,597.5      38,395.5     -­‐22.59%  

Total  Disbursement    mn    62,012.3      47,842.0      47,943.9      49,269.5      49,803.4     -­‐19.69%   1.08%    1,98,836.9      1,94,858.8     -­‐2.00%  

SecuriAsaAon  done    mn    60,974.0      1,665.0      4,926.0      33,414.0      43,456.0     -­‐28.73%   30.05%    1,02,036.0      83,461.0     -­‐18.20%  

Gross  NPA   %    2.64      2.66      2.69      2.79      3.06     15.91%   9.68%    2.64      3.06     15.91%  

Net  NPA   %    0.38      0.49      0.41      0.40      0.44     15.79%   10.00%    0.38      0.44     15.79%  

Gross  NPA    mn    5,285.8      6,028.3      6,595.7      6,718.6      6,937.9     31.26%   3.26%    5,285.8      6,937.9     31.26%  

Net  NPA    mn    744.6      1,089.5      986.9      930.9      977.2     31.24%   4.97%    744.6      977.2     31.24%  

Coverage  RaAo   %    85.91      81.93      85.04      86.14      85.91     0.00%   -­‐0.27%    85.91      85.91     0.00%  

CRAR   %    24.85      23.44      23.80      24.91     24.26   -­‐2.37%   -­‐2.61%    24.85      24.26     -­‐2.37%  

Book  Value   Rs.    215.22      230.59      243.30      253.96     263.05   22.22%   3.58%    215.22      263.05     22.22%  

37

Subsidiary Information

1. Shriram Equipment Finance Company Limited. Total Disbursement – Rs. 5,467.1 mn in Q4 FY 12 (16,406.2 mn in FY 12) Assets under Finance - Rs. 19,233.7 mn in FY 12 (6,341.6 mn in FY 11) PAT – Rs. 171.6 mn in Q4 FY 12 (516.2 mn in FY 12)

2. Shriram Automall India Limited. - ONE STOP - Launched in more than 440 branches. - SHRIRAM NEW LOOK - Launched in the State of Tamil Nadu, Andhra Pradesh, Kerala & Karnataka. - AUTOMALL – 4 NEW mini Automall launched during the quarter.

3. Fees Income earned Rs. 212.68 mn in Q4 FY 12 (559.89 mn in FY 12) (Rs. 270.3 mn in FY 11)

Profit and Loss Statement

38

Subsidiary - Shriram Equipment Finance Company Limited

(Rs. in mn)

Particulars Year Ended March 31, 2012 Year Ended March 31, 2011

Income Income from operations 2,101.00 201.64 Other income 0.13 0.01 Total 2,101.13 201.65 Expenditure Employee benefit expenses 172.17 60.35 Finance cost 962.57 22.71 Depreciation and amortisation 4.94 2.84 Other expenses 117.10 75.01 Provisions & write offs 74.35 15.85 Total 1,331.13 176.76 Profit before taxation 770.00 24.89 Provision for taxation Current tax 264.84 18.44 Deferred tax (11.06) (5.12) Total tax expense / (income) 253.78 13.32 Profit after tax from continuing operations 516.22 11.57 Earnings per share Basic (Rs.) 51.62 1.14 Diluted [(Rs.) 51.62 1.14 Nominal value of equity share (Rs.) 10.00 10.00

Balance Sheet

39

Subsidiary - Shriram Equipment Finance Company Limited

(Rs. in mn) Particulars As at March 31, 2012 As at March 31, 2011

I. EQUITY AND LIABILITIES (1) Shareholders' funds (a) Share capital 2,600.00 1,600.00 (b) Reserves and surplus 527.50 11.28 (2) Non-Current Liabilities (a) Long-term borrowings 8,806.32 2,625.00 (b) Other long term liabilities 11.83 - (c) Long term provisions 67.53 11.93 (3) Current Liabilities (a) Short-term borrowings 4,359.02 1,116.78 (b) Trade payables 1,250.80 1,511.86 (c) Other current liabilities 1,722.13 798.96 (d) Short-term provisions 39.75 25.33 Total 19,384.88 7,701.14 II. ASSETS (1) Non-current assets (a) Fixed assets (i) Tangible assets 6.35 2.95 (ii) Intangible assets 5.78 9.53 (b) Deferred tax assets (net) 16.26 5.20 (c) Long term loans and advances 12,045.29 4,397.61 (2) Current assets (a) Cash and cash equivalents 84.91 1,336.66 (b) Short-term loans and advances 7,226.28 1,948.37 (c) Other current assets 0.01 0.82 Total 19,384.88 7,701.14

40

ParAculars      

Q4   Q1   Q2   Q3   Q4   %   %   Year  ended  Year  ended   %  

FY  2010  11   FY  2011  12   FY  2011  12   FY  2011  12   2011  12   YoY   QoQ   FY  2011   FY  2012   YoY  

Interest  Income    mn   163.0   331.2   464.1   580.3   725.3   344.97%   24.99%   201.6   2,101.0   942.16%  

Less  :  Interest  Expenses    mn   12.7   143.7   204.3   276.7   337.9   2560.63%   22.12%   22.7   962.6   4140.53%  

Net  Interest  Income    mn   150.3   187.5   259.8   303.6   387.4   157.75%   27.60%   178.9   1,138.4   536.33%  

Other  Income    mn   -­‐0.3   0.0   0.0   0.0   0.1   -­‐133.33%   -­‐   0.0   0.1   -­‐  

OperaAng  Income    mn   150.0   187.5   259.8   303.6   387.5   158.33%   27.64%   178.9   1,138.5   536.39%  

Cost  to  Income  RaAo   %   36.85   34.57   24.91   23.97   23.71   -­‐35.66%   -­‐1.08%   77.23   25.84   -­‐66.54%  

Profit  a`er  Tax    mn   69.0   74.1   123.5   146.9   171.6   148.70%   16.81%   11.6   516.2   4350.00%  

EPS   Rs.    6.90      7.41      12.35      14.69      17.15     148.55%   16.75%    6.90      51.62     648.12%  

ROA   %    5.64      3.16      4.11      4.17      3.97     -­‐29.61%   -­‐4.80%    0.77      3.91     407.79%  

ROE   %    25.63      13.80      17.99      20.39      22.57     -­‐11.94%   10.69%    3.29      19.08     479.94%  

Subsidiary - Shriram Equipment Finance Company Limited Details of Key Parameters (Profit & Loss Account)

41

Subsidiary - Shriram Equipment Finance Company Limited Details of Key Parameters (Balance Sheet)

ParAculars  

    Q4   Q1   Q2   Q3   Q4   %   %   Year  ended  Year  ended   %  

    FY  2010  11   FY  2011  12   FY  2011  12   FY  2011  12   2011  12   YoY   QoQ   FY  2011   FY  2012   YoY  Asset  under  Management    mn    6,341.6      9,575.2      12,890.7      15,058.8      19,233.7     203.29%   27.72%    6,341.6      19,233.7     203.29%  

Disbursement                                              

   -­‐  Used  CV    mn    977.1      730.5      787.7      762.7      863.1     -­‐11.67%   13.16%    1,404.3      3,144.0     123.88%  

   -­‐  New  CV    mn    3,520.1      3,027.0      3,069.3      2,561.9      4,604.0     30.79%   79.71%    5,160.0      13,262.2     157.02%  

Total  Disbursement    mn    4,497.2      3,757.5      3,857.0      3,324.6      5,467.1     21.57%   64.44%    6,564.3      16,406.2     149.93%  

Gross  NPA   %    -­‐          0.02      0.12      0.36      0.26     -­‐   -­‐27.78%    -­‐          0.26     -­‐  

Net  NPA   %    -­‐          0.02      0.11      0.30      0.08     -­‐   -­‐73.33%    -­‐          0.08     -­‐  

Gross  NPA    mn    -­‐          1.80      15.10      53.70      50.60     -­‐   -­‐5.77%    -­‐          50.60     -­‐  

Net  NPA    mn    -­‐          1.60      13.50      45.90      15.40     -­‐   -­‐66.45%    -­‐          15.40     -­‐  

Coverage  RaAo   %    -­‐          11.11      10.59      14.53      69.57     -­‐   378.80%    -­‐          69.57     -­‐  

CRAR   %    25.40      28.10      21.87      23.40      20.83     -­‐17.99%   -­‐10.98%    25.40      20.83     -­‐17.99%  

Book  Value   Rs.    11.13      18.54      30.89      45.59      62.75     463.79%   37.64%    11.13      62.75     463.79%  

Profit and Loss Statement

42

Subsidiary - Shriram Automall India Limited

(Rs in mn) Year ended March 31,

2012 Year ended March 31,

2011

Income Revenue from operations 1,154.59 621.63 Other income 0.08 - Total 1,154.67 621.63 Expenditure Purchase of used commercial vehicles 444.36 692.42 Vehicle Refurbishment expenses 20.22 27.15 Adjustment due to decrease/(increase) in stock of used commercial vehicles 119.75 (129.36) Employees Benefit expense 206.52 69.13 Finance cost 20.91 - Depreciation and amortisation 34.17 1.86 Other expenses 312.57 99.18 Total 1,158.50 760.38 Profit/(Loss) before taxation (3.83) (138.75) Provision for taxation Current tax - - Deferred tax liability / (Asset) (0.78) 0.40 Total tax expense / (income) (0.78) 0.40 Profit/(Loss) after taxation (3.05) (139.15) Earnings/(Loss) per share Basic & Diluted (Rs.) (0.17) (35.99) Nominal Value of Share (Rs.) 10.00 10.00

Balance Sheet

43

Subsidiary - Shriram Automall India Limited

(Rs in mn) As at March 31, 2012 As at March 31, 2011

EQUITY AND LIABILITIES Shareholders' Funds Share capital 300.00 100.00 Reserves and Surplus (142.25) (139.21) Non-Current Liabilities Deferred tax liabilities (net) - 0.40 Long term provisions 6.76 0.03 Current Liabilities Short-term borrowings 49.32 275.58 Trade payables 35.91 2.37 Other current liabilities 19.15 65.34 Short-term provisions 5.71 0.06 Total 274.60 304.57 ASSETS Non-current assets Fixed assets Tangible assets 131.95 30.62 Intangible assets 15.45 0.44 Capital work-in-progress - 27.72 Deferred tax assets (net) 0.39 - Long term loans and advances 49.23 42.95 Other non-current assets 0.16 0.05 Current assets Inventories 9.29 129.36 Trade receivables 2.58 0.16 Cash and bank balance 52.24 53.84 Short-term loans and advances 13.31 19.43 Total 274.60 304.57

Contact Us

For any Investor Relations queries please contact

Sanjay K. Mundra Shriram Transport Finance Co. Ltd

Email: smundra@stfc.in Tel. No. +91-22-40959507

Forward Looking Statement Certain statements in this document with words or phrases such as “will”, “should”, etc., and similar expressions or variation of these expressions or those concerning our future prospects are forward looking statements. Actual results may differ materially from those suggested by the forward looking statements due to a number of risks or uncertainties associated with the expectations. These risks and uncertainties include, but are not limited to, our ability to successfully implement our strategy and changes in government policies. The company may, from time to time, make additional written and oral forward looking statements, including statements contained in the company’s filings with the stock exchanges and our reports to shareholders. The company does not undertake to update any forward-looking statements that may be made from time to time by or on behalf of the company.

About Shriram Transport Finance Co. Ltd. Shriram Transport Finance Co Ltd. is the largest asset financing NBFC with assets under management of Rs 402.14 bn. The company is a leader in organized financing of pre-owned trucks with strategic presence in 5-12 year old trucks and a market share of around 25%. It has a pan-India presence with a network of 69 SBUs and 502 branches, and employs 15,057 employees including 8,155 field officers. The company has built a strong customer base of over 0.85 mn. Over the past 34 years, it has developed strong competencies in the areas of loan origination, valuation of pre-owned trucks and collection. It has a vertically integrated business model and offers a number of products which include: Pre-owned CV financing, New CV financing and other loans like accidental repair loans, tyre loans and working capital finance, etc. For more information please visit www.stfc.in

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