Latest news with #YSChakravarti
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Business Standard
04-07-2025
- Automotive
- Business Standard
Truck rentals, EV and tractor sales rise in June; car sales see decline
Truck rentals saw positive momentum across most key trunk routes owing to increased hiring by the private sector. The Kolkata–Guwahati–Kolkata corridor witnessed a month-on-month (MoM) rise of 2.4 per cent, while the Mumbai–Chennai–Mumbai route grew by 1.9 per cent and the Delhi–Hyderabad–Delhi route saw a 1.6 per cent increase in truck rentals, said the June edition of the Shriram Mobility Bulletin. On a year-on-year (YoY) basis, truck rentals surged 14 per cent on the Kolkata–Guwahati–Kolkata route, 12 per cent on the Mumbai–Chennai–Mumbai corridor, and 9 per cent on the Delhi–Hyderabad–Delhi route. The June edition of the report reflects a steady recovery in India's logistics and mobility ecosystem, supported by pre-Kharif agricultural activity and a manufacturing sector targeting exports. Farm-linked categories and electric vehicles stood out as growth drivers in automotive sales, underlining the evolving contours of India's mobility landscape. Fuel consumption dipped MoM in June, but petrol and diesel sales rose YoY by 6.4 per cent and 1.2 per cent respectively. FASTag transaction volumes (in million) and values (in crore) also witnessed a fall MoM, but saw a YoY spike of 16 per cent and 18 per cent respectively. Vehicle retail sales in June 2025 reflected a mixed trend. While overall numbers declined MoM due to seasonal factors, farm and infrastructure-linked categories showed resilience. Agricultural tractors grew 3 per cent MoM and 4 per cent YoY, supported by pre-Kharif demand and stable rural cash flows. Construction equipment vehicles saw a strong uptick of 12 per cent MoM and 25 per cent YoY, driven by sustained infrastructure activity. Commercial tractors also rose 5 per cent MoM and 2 per cent YoY. Meanwhile, motor car sales dipped 12 per cent MoM and 6 per cent YoY, and two-wheelers contracted 18 per cent MoM and 1 per cent YoY as consumers deferred discretionary purchases amid market uncertainty. The electric vehicle segment maintained strong momentum in June 2025, supported by consumer demand and the introduction of new models. Electric two-wheelers grew 5 per cent MoM and surged 254 per cent YoY, reflecting their increasing popularity for urban mobility. Electric three-wheelers recorded a 2 per cent MoM rise and an impressive 663 per cent YoY growth, driven by demand in last-mile delivery and commercial transport. EV motor car sales also edged up 1 per cent MoM and soared 1,267 per cent YoY, reflecting broader adoption across consumer segments. Y S Chakravarti, Chief Executive Officer and Managing Director, Shriram Finance Ltd, said: 'June 2025 underscored a positive shift in economic momentum across the transportation sector. Truck rentals saw healthy month-on-month growth, spurred by a revival in manufacturing activity. Export-driven freight shows continued resilience, setting a constructive tone for Q2. While fuel consumption and FASTag collections dipped slightly, their sharp year-on-year rise signals enduring structural recovery and seasonal mobility trends.' 'However, passenger car sales continue to reel under subdued consumer sentiment, shaped by ongoing market uncertainty. Encouragingly, early monsoon onset and increased rural economic activity have strengthened tractor demand, with agriculture-linked mobility seeing renewed traction. Meanwhile, the electric vehicle segment is accelerating ahead of forecasts, powered by robust consumer interest and a wave of fresh model launches by leading automakers,' he said. E-way bill generation reflected steady growth in May. Intra-state e-way bill generations rose 4 per cent MoM and 19 per cent YoY, with the transaction value up 2 per cent MoM and 12 per cent YoY at Rs 15.04 trillion. Similarly, inter-state e-way bill generations grew 1 per cent MoM and 19 per cent YoY, while the value of transactions climbed 4 per cent MoM and 10 per cent YoY to Rs 13.13 trillion. The consistent uptick underscores sustained supply chain momentum driven by strong domestic consumption and early monsoon stock movements.
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Business Standard
08-06-2025
- Business
- Business Standard
Indo-Pak conflict: FMCG sales soar, auto sector hit in border areas in May
The sale of fast-moving consumer goods (FMCG) surged, while the automobile sector saw a dip in May in the border states of Rajasthan, Punjab, Gujarat, and Jammu & Kashmir, as the fear of a potential war between India and Pakistan led to uneven consumer behaviour, according to available industry data and experts. While panic buying triggered a spike of up to 20 per cent in the FMCG segment, sales of automobiles were severely hit in these states, with market leader Maruti Suzuki being the worst-affected. Cinema halls saw a 50 per cent drop in footfall during the month, while fuel outlets too recorded a decline in sales. In the pharmaceutical sector, sales were almost flat in these areas. However, sources reveal that none of the above sectors witnessed any supply concerns despite disruption in logistics due to rising tensions in these states between April 22 and May 10 — the period from the Pahalgam terrorist attack to de-escalation of military action. 'During such tense times, people worry if they will be able to get their daily necessities. They generally stock up on items like oil, flour, sugar, among other daily needs items. We witnessed a spike in buying of these items at towns closer to the borders. We saw a spike of 8–10 per cent which then impacts later buying of these products once the situation normalised,' said Angshu Mallick, managing director and chief executive officer at AWL Agri Business (formerly known as Adani Wilmar). Parle Products, which is known for its biscuits, also saw a week of spike in sales of 15–20 per cent. 'Consumers resorted to pantry loading during the week of Operation Sindoor which then normalised,' a company source said. According to a Shriram Mobility report, freight movement in some parts of the areas along the India-Pakistan border was disrupted due to night-time blackouts during Operation Sindoor, temporarily halting logistics operations. Vehicle sales and rentals in the border states were also impacted. While motor car sales fell by 21 per cent month-on-month (M-o-M) in Jammu & Kashmir, 18 per cent in Rajasthan, and by 13 per cent in Gujarat. Maxi cabs fell by 43 per cent in Gujarat, by 50 per cent in Jammu & Kashmir, and by 20 per cent in Rajasthan, the Shriram report added. 'Operation Sindoor caused a minor blip in business activities, both in terms of goods movements and vehicle sales in border states, but it has since returned to normal,' said Y S Chakravarti, chief executive officer and managing director, Shriram Finance. In the passenger vehicle segment, market leader Maruti Suzuki has a 55 per cent market share in these four states. 'I would also like to highlight the recent military action along the borders of J&K, Punjab, Rajasthan, and Gujarat. These are markets where we enjoy very high market share. All these markets contribute close to 22 per cent of our sales, and the cities which were impacted — almost 9 per cent of our sales come from this market,' said Partho Banerjee, head of sales and marketing at Maruti Suzuki. The company witnessed a 5 per cent dip in its total domestic sales to 148,858 units in May. Commenting on the impact of border tensions on the pharmaceutical sector, Sheetal Sapale, vice-president (commercial) at market research firm Pharmarack, noted that while border states experienced a slight stagnation in sales in May compared to April, historical data shows that a minor dip during this period is typically observed. According to Pharmarack data, the grouping of northern states, including Punjab, Chandigarh, Jammu and Kashmir, and Himachal Pradesh, saw a 1 per cent rise in sales for May 2025 at ₹825 crore from ₹818 crore a month ago. On the other hand, border states such as Rajasthan and Gujarat witnessed a slight drop in sales figures. While the numbers for Rajasthan were ₹609 crore in May, compared to ₹701 crore in April, Gujarat saw a 2 per cent drop in sales, from ₹877 crore in April to ₹855 crore in May. Sapale added that the border tensions had eased during the final week of May, which coincides with the sales closing period for the pharma industry. 'This likely helped prevent any significant disruption in overall sector performance,' she said. Petrol and diesel sales were down by more than half in the region during the month, compared to a normal May. 'Our supplies were not affected but sales declined by more than 50 per cent when the crisis was at its peak. Anyway, we don't have any outlets near 20–30 kilometers of our border areas,' said Ajay Bansal, president of the All India Petroleum Dealers Association.
Time of India
28-04-2025
- Business
- Time of India
India's Shriram Finance mulling yen-denominated fundraise to diversify borrowing, CEO says
Indian non-banking finance company Shriram Finance is mulling raising funds denominated in Japanese yen to diversify its borrowing profile, with talks still in preliminary stages, its CEO said on Monday. "Our team is exploring a possibility if we can borrow from the Japanese ( currency )," YS Chakravarti told Reuters in an interview. "This could be either from a bank or an international bond issue, which corporates can subscribe to." by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like 10 Things Flight Attendants Rarely Talk About, Plus Tips to Make Your Flights More Comfortable Enhancing In-Flight Comfort Undo Shriram Finance is "still exploring the market", Chakravarti said, without divulging the target or timing of the fundraise. External commercial borrowing loans made up nearly 15% of Shriram's total borrowing profile as of March-end, while overseas bonds comprised about 6.8%. In December, the NBFC raised $1.28 billion in a multi-currency social loan split across the dollar, euro and dirham, with a tenor of up to five years. Live Events On Friday, Shriram Finance reported a smaller-than-expected fourth-quarter profit as high finance costs pressured its bottom line. The company's shares fell as much as 9% on Monday. Shriram Finance is targeting AUM growth of around 17%-18% for 2025-26, higher than its earlier guidance of 15%, Chakravarti said. As of March-end, Shriram Finance's assets under management (AUM) increased by 17% year-on-year and stood at 2.63 trillion rupees ($30.96 billion). The NBFC is looking to bank on its passenger vehicle and small and medium enterprise loan portfolios to drive its AUM growth, the CEO said, while also exploring new products, such as unsecured business loans and supply chain financing. Shriram Finance is also looking to deploy the excess liquidity of about 300 billion rupees on its balance sheet, which will help drive net interest margins in the 8.50%-8.80% range for the current financial year, compared with 8.25% in January-March, Chakravarti added. "Since we are sitting on excess liquidity we will be in a position to actually bargain for an attractive rate. We see our cost of borrowings to trend lower from current levels," he added. ($1 = 84.9550 Indian rupees)
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Business Standard
28-04-2025
- Business
- Business Standard
We're mulling yen-led fundraise to diversify borrowing: Shriram Finance CEO
Indian non-banking finance company Shriram Finance is mulling raising funds denominated in Japanese yen to diversify its borrowing profile, with talks still in preliminary stages, its CEO said on Monday. "Our team is exploring a possibility if we can borrow from the Japanese (currency)," YS Chakravarti told Reuters in an interview. "This could be either from a bank or an international bond issue, which corporates can subscribe to." Shriram Finance is "still exploring the market", Chakravarti said, without divulging the target or timing of the fundraise. External commercial borrowing loans made up nearly 15 per cent of Shriram's total borrowing profile as of March-end, while overseas bonds comprised about 6.8 per cent. In December, the NBFC raised $1.28 billion in a multi-currency social loan split across the dollar, euro and dirham, with a tenor of up to five years. On Friday, Shriram Finance reported a smaller-than-expected fourth-quarter profit as high finance costs pressured its bottom line. The company's shares fell as much as 9 per cent on Monday. Shriram Finance is targeting AUM growth of around 17 per cent-18 per cent for 2025-26, higher than its earlier guidance of 15 per cent, Chakravarti said. As of March-end, Shriram Finance's assets under management (AUM) increased by 17 per cent year-on-year and stood at 2.63 trillion rupees ($30.96 billion). The NBFC is looking to bank on its passenger vehicle and small and medium enterprise loan portfolios to drive its AUM growth, the CEO said, while also exploring new products, such as unsecured business loans and supply chain financing. Shriram Finance is also looking to deploy the excess liquidity of about Rs 300 billion on its balance sheet, which will help drive net interest margins in the 8.50 per cent-8.80 per cent range for the current financial year, compared with 8.25 per cent in January-March, Chakravarti added. "Since we are sitting on excess liquidity we will be in a position to actually bargain for an attractive rate. We see our cost of borrowings to trend lower from current levels," he added.
Reuters
28-04-2025
- Business
- Reuters
India's Shriram Finance mulling yen-denominated fundraise to diversify borrowing, CEO says
MUMBAI, April 28 (Reuters) - Indian non-banking finance company Shriram Finance ( opens new tab is mulling raising funds denominated in Japanese yen to diversify its borrowing profile, with talks still in preliminary stages, its CEO said on Monday. "Our team is exploring a possibility if we can borrow from the Japanese (currency)," YS Chakravarti told Reuters in an interview. "This could be either from a bank or an international bond issue, which corporates can subscribe to." Shriram Finance is "still exploring the market", Chakravarti said, without divulging the target or timing of the fundraise. External commercial borrowing loans made up nearly 15% of Shriram's total borrowing profile as of March-end, while overseas bonds comprised about 6.8%. In December, the NBFC raised $1.28 billion in a multi-currency social loan split across the dollar, euro and dirham, with a tenor of up to five years. On Friday, Shriram Finance reported a smaller-than-expected fourth-quarter profit as high finance costs pressured its bottom line. The company's shares fell as much as 9% on Monday. Shriram Finance is targeting AUM growth of around 17%-18% for 2025-26, higher than its earlier guidance of 15%, Chakravarti said. As of March-end, Shriram Finance's assets under management (AUM) increased by 17% year-on-year and stood at 2.63 trillion rupees ($30.96 billion). The NBFC is looking to bank on its passenger vehicle and small and medium enterprise loan portfolios to drive its AUM growth, the CEO said, while also exploring new products, such as unsecured business loans and supply chain financing. Shriram Finance is also looking to deploy the excess liquidity of about 300 billion rupees on its balance sheet, which will help drive net interest margins in the 8.50%-8.80% range for the current financial year, compared with 8.25% in January-March, Chakravarti added. "Since we are sitting on excess liquidity we will be in a position to actually bargain for an attractive rate. We see our cost of borrowings to trend lower from current levels," he added.
