Sundaram Finance FY24 Performance Highlights PDF

PERFORMANCE HIGHLIGHTS FY24 CONTENTS 01 02 03 04 05 Overview of Financial results & Key trends in financial Consolidated results More about Sundaram Finance performance performance...

PERFORMANCE HIGHLIGHTS FY24 CONTENTS 01 02 03 04 05 Overview of Financial results & Key trends in financial Consolidated results More about Sundaram Finance performance performance Sundaram Finance 2 01 Overview of Sundaram Finance 3 OUR VISION, MISSION AND PHILOSOPHY Service Pru y de pla n ce ir Fa Hone sty Vision P G Mission Integrity To be the most respected NBFC To deliver the “Sundaram Humi in the country experience” to all our customers, Q big and small, in keeping with the lity ethos of the company Op ne li en ne ss ip D is c Relationships Growth Quality Profitability 4 THE SUNDARAM WAY Service Fair play Humility To be of service even when To stand for fair play when the To realise that humility is the time is against you odds are stacked against you greatest virtue Discipline Honesty Openness To know that discipline is To believe that honesty is the To be open to scrutiny, anywhere, your ally in all situations only policy anytime Prudence Integrity Relationships To be the voice of prudence To put integrity about To know that we are not merely the in the midst of chaos all else holders of people’s money; but more importantly the custodians of their trust 5 THE SF GROUP AUM Branches Staff * Customer count 43,987 710 7,459 5,73,127 8,673 161 2,708 30,33,437 Joint Venture with Ageas Insurance International NV 13,812 138 1,548 59,620 100% subsidiary 70,883 85 555 13,49,667 100% subsidiary Group 1,37,355 1,094 12,270 50,15,851 * Includes off roll employees 6 STRATEGIC SOURCES OF DISTINCTIVENESS 69-year heritage of trust Pioneer of hire-purchase Diversified financial services group Lending business focused on and prudence finance in India across lending, general insurance, the underserved but home finance and asset aspiring Indian management with total AUM of entrepreneur (road transport over Rs. 1,30,000 cr. operator, infrastructure contractor, small farmer, MSME owner) Legacy of deep deposit Technology-enabled Consistent best-in-class customer connect and and data-powered asset quality loyalty with 80+% approach to a high-touch performance over decades renewal rate across customer approach offerings 7 PRODUCT OFFERINGS Asset Finance Commercial lending Working capital finance Distribution Cars Leasing Diesel Fixed Deposits Commercial vehicles NBFC Insurance General insurance Construction equipment SME Tyre Home loans Tractors and farm equipment Supply chain financing Sundaram Credit Line Investment services Used vehicles Life insurance Mutual funds 8 SUNDARAM FINANCE – PERFORMANCE OVER LAST TWENTY YEARS ₹ in Crore Receivables Under Management 51,385 39,950 35,088 35,736 33,774 33,447 28,648 24,036 20,699 17,645 18,158 18,734 15,540 12,354 8,925 9,204 10,219 7,327 4,488 5,452 Mar-05 Mar-06 Mar-07 Mar-08 Mar-09 Mar-10 Mar-11 Mar-12 Mar-13 Mar-14 Mar-15 Mar-16 Mar-17 Mar-18 Mar-19 Mar-20 Mar-21 Mar-22 Mar-23 Mar-24 9 SUNDARAM FINANCE – PERFORMANCE OVER LAST TWENTY YEARS ₹ in Crore PAT 1,454 120 1,126 1,088 903 522 809 724 53 1,334 563 410 477 495 443 454 355 26 41 295 671 213 227 39 563 604 171 151 26 436 495 76 100 77 355 89 256 151 Mar-05 Mar-06 Mar-07 Mar-08 Mar-09 Mar-10 Mar-11 Mar-12 Mar-13 Mar-14 Mar-15 Mar-16 Mar-17 Mar-18 Mar-19 Mar-20 Mar-21 Mar-22 Mar-23 Mar-24 Exceptional item 10 SUNDARAM FINANCE – PERFORMANCE OVER LAST TWENTY YEARS ₹ in Crore Market Capitalization 45,983 28,560 25,548 21,560 16,859 17,940 18,634 17,318 14,450 13,366 7,359 5,265 2,722 3,645 1,078 1,099 1,602 917 2,096 782 Mar-05 Mar-06 Mar-07 Mar-08 Mar-09 Mar-10 Mar-11 Mar-12 Mar-13 Mar-14 Mar-15 Mar-16 Mar-17 Mar-18 Mar-19 Mar-20 Mar-21 Mar-22 Mar-23 Mar-24 11  SUNDARAM FINANCE – PERFORMANCE OVER LAST TWENTY YEARS Core Return on Equity %* 28.3 26.8 23.5 19.5 19.9 19.3 18.8 18.2 18.5 18.0 18.0 17.0 16.5 16.5 16.3 14.9 15.5 15.3 13.0 12.6 Mar-05 Mar-06 Mar-07 Mar-08 Mar-09 Mar-10 Mar-11 Mar-12 Mar-13 Mar-14 Mar-15 Mar-16 Mar-17 Mar-18 Mar-19 Mar-20 Mar-21 Mar-22 Mar-23 Mar-24 ROE% 12.6 22.8 11.9 22.1 13.7 18.4 20.7 21.4 21.2 19.7 17.6 15.2 14.0 14.3 24.5 13.7 13.8 13.8 14.9 17.5 * Core ROE (excluding investments in subsidiaries) 12 02 Financial results & performance 13 OVERALL HIGHLIGHTS OF FINANCIAL PERFORMANCE As of 31st March 2024 AUM Gross Stage 3 Cost-to-income ROA ROE ₹43,987 Crores 1.26% 34.69% 3.18% 17.5%* 27.3% up 1.66% 34.26% 2.84% 14.9% from Mar 23 in Mar 23 in FY23 in FY23 in FY23 160% final dividend (₹ 16/- per share) declared. Total dividend for FY24 300% (₹ 30/- per share) *Core ROE (excluding investments in subsidiaries) at 16.5% vs. 18.5% 14 HIGHLIGHTS – GROWTH OF 25% IN CORE BUSINESS Economic activity in the automotive sector was muted in the second half of the year. Several asset classes declined YOY with others recording single digit growth. For the year, commercial vehicles grew 2-3% YOY and passenger cars were up 8-9%; however, tractors declined 11-12% YOY. Growth in disbursements was driven by sharp focus on ensuring rightful market share in all asset classes and geographies of operations. FY24 disbursements are highest- ever and grew 25% over FY23 while Q4 disbursements were up 18% over same period last year. Disbursements for FY24 recorded a growth of 25% to Net interest income rose 17% in FY24 compared to FY23. ₹26,163 crores as compared to ₹20,966 crores registered in the previous year. The Company gained market share across nearly all asset classes and geographies of operations. The assets under the management stood at ₹43,987 crores as on The total restructured assets under Covid package were ₹ 260 crores, 31st March 2024 as against ₹ 34,552 crores as on 31st March 2023, about 0.6% of outstanding loans as on 31st March 2024. registering a 27% increase year-on-year. 15 HIGHLIGHTS – ASSET QUALITY CONTINUES TO REMAIN INDUSTRY BEST Our asset quality continued to remain best-in-class with continuing improvement in collections & recovery activity. Current collections are back to pre-Covid levels and Gross Stage 3 assets continued to improve. Collections performance has reverted to pre-Covid levels with current collections of current demand at 93%. Gross stage 3 assets as on 31st March 2024 stood at 1.26% with provision cover of 50% when compared to 1.66% with 49% provision cover as of 31st March 2023. Net stage 3 assets as on 31st March 2024 closed at 0.63% as against 0.86% as on 31st March 2023. The Gross and Net NPA, as per RBI’s asset classification norms, are 1.98% and 1.25% respectively as against 3.00% and 2.10% as of 31st March 2023. 16 HIGHLIGHTS – PROFITABILITY IMPROVED CONSISTENTLY Profits after tax grew 23% (excluding exceptional item) over FY23 due to continuing improvements in asset quality, tight control on costs, meticulous management of our cost of borrowing in a rising interest rate regime consistent with our “AAA” rating. We are ensuring prudent focus on asset class mix as well as customer segment mix to optimize our margin while ensuring growth and profitability. Cost to income closed at 34.69% in FY24 as against 34.26% in FY23. Return on assets (ROA) for FY24 closed at 3.18% as against 2.84% for FY23. Return of equity (ROE) was at 17.5% for FY24 as against 14.9% for FY23. If we exclude investments in subsidiaries and group companies, core ROE was at 16.5% for FY24 as against 18.5% for FY23. Profit after tax at ₹ 1,334 crores (excluding exceptional item) in FY24 as against ₹ 1,088 crores in FY23, up by 23%; Profit after tax for Q4FY24 up by 22% to Rs. 386 crores (excluding exceptional item) from Rs. 316 crores in Q4FY23. Provision of ₹ 69.61 crores was made in respect of investments in Alternate Investment Funds (AIF) pursuant to RBI circular dated 27th March 2024. During the year, the Company transferred 79,73,529 equity shares of ₹ 5/- each held in Sundaram Finance Holdings Limited (SFHL), representing 3.59% stake, resulting in a profit of ₹ 134 crores. SFHL has ceased to be a subsidiary of the company. The Company has decided to recognise this investment at Fair Value through Other Comprehensive Income as per IND AS 109. 17 PROFIT & LOSS STATEMENT ₹ in Crore Particulars Q4FY23 Q4FY24 Q3FY24 FY23 FY24 Revenue From Operations* 1,035 1,544 1,321 3,984 5,387 Other Income 51 (1) 6 64 14 Total Revenue 1,086 1,543 1,327 4,048 5,401 Finance cost 491 724 694 1,780 2,576 Operating expenses 173 215 222 714 854 Impairment 17 138 21 134 274 Total Expenses 681 1,077 937 2,628 3,704 Profit Before Exceptional Item and Tax 405 466 390 1,420 1,697 Exceptional Item - 134 - - 134 Profit After Tax 316 506 300 1,088 1,454 *Revenue from operations is net of depreciation on operating lease. 18 BALANCE SHEET ₹ in Crore Particulars 31-Mar-23 31-Mar-24 Equity and Liabilities Financial Liabilities 33,254 41,431 Non-Financial Liabilities 68 85 Equity 7,737 9,472 Total – Equity and Liabilities 41,059 50,988 Assets Financial Assets 39,938 49,942 Non-Financial Assets 1,121 1,046 Total – Assets 41,059 50,988 19 03 Key trends in financial performance 20 FINANCIAL SUMMARY ₹ in Crore Receivables Market Year Paid-up Capital Networth Disbursements PAT Dividend % Under Management Capitalisation Mar-13 *111 2,087 9,991 17,645 410 90 5,265 Mar-14 111 2,405 9,719 18,158 443 100 7,359 Mar-15 111 2,978 10,012 18,734 454 105 16,859 Mar-16 111 3,313 11,444 20,699 477 110 14,450 Mar-17 111 3,746 13,218 24,036 **495 115 17,940 Mar-18 111 4,134 15,712 28,648 563 120 18,634 Mar-19 111 5,044 17,170 33,447 @604 #175 17,318 Mar-20 111 5,547 15,175 35,088 724 130 13,366 Mar-21 111 6,179 11,742 35,736 809 180 28,560 Mar-22 111 6,893 13,275 33,774 903 200 21,560 Mar-23 111 7,737 20,966 39,950 1,088 270 25,548 Mar-24 111 9,472 26,163 51,385 @1,334 300 45,983 * Increase in Capital by way of 1:1 bonus issue, ** Adjusted for demerger ₹460.57 Cr, # Includes special dividend of 50%. @ Excludes exceptional item, Market Capitalisation is on the last day of respective period ends. 21 DISBURSEMENTS AND AUM ₹ in Crore Disbursements AUM 26,163 43,987 20,966 6,209 34,552 5,259 29,936 30,882 15,175 6524 29,532 13,275 11,742 5653 6941 5139 6489 4915 Mar-20 Mar-21 Mar-22 Mar-23 Mar-24 Mar-20 Mar-21 Mar-22 Mar-23 Mar-24 Growth -11.6% -22.6% 13.1% 57.9% 24.8% Growth 3.3% 3.2% -4.4% 17.0% 27.3% Q1 Q2 Q3 Q4 22 DISBURSEMENTS Mar-23 Mar-24 6.9% 1.6% 2.4% MHCV 8.8% Retail CV 7.7% 25.8% 31.1% 7.4% Cars 10.8% ₹ 20,966 Cr. 11.2% ₹ 26,163 Cr. Construction Equipment Asset wise Tractors 20.9% 24.2% 17.7% 23.5% Commercial Lending Used Assets – 22.4% Used Assets – 22.8% Others 4.4% 4.5% South 13.4% 13.1% North ₹ 20,966 Cr. 54.9% ₹ 26,163 Cr. 53.9% West Region wise 27.3% 28.5% East ICV, LCV and SCV as Retail CV 23 AUM Mar-23 Mar-24 5.4% 5.0% MHCV 4.1% 7.2% Retail CV 8.0% 24.4% 29.3% 7.5% Cars 10.7% ₹ 34,552 Cr. 10.6% ₹ 43,987 Cr. Construction Equipment Asset wise Tractors 21.3% 17.5% 25.0% 24.0% Commercial Lending Used Assets – 18.4% Used Assets – 18.3% Others 4.4% 4.3% South 13.5% 14.0% North ₹ 34,552 Cr. 54.8% ₹ 43,987 Cr. 54.0% West Region wise 27.3% 27.7% East ICV, LCV and SCV as Retail CV 24 BRANCH NETWORK Mar-23 Mar-24 7 41 12 40 81 76 356 337 211 220 No. of Branches: 671 No. of Staffs: 7,199 No. of Branches: 710 No. of Staffs: 7,459 South North West East Commercial Lending 25 PORTFOLIO QUALITY Gross Stage 3% Net Stage 3% 2.47% 2.19% 1.84% 1.66% 1.65% 1.26% 1.01% 1.07% 0.86% 0.63% Mar-20 Mar-21 Mar-22 Mar-23 Mar-24 Mar-20 Mar-21 Mar-22 Mar-23 Mar-24 26 FUNDING MIX ₹ 29,007 Cr. ₹ 29,251 Cr. ₹ 28,297 Cr. ₹ 32,915 Cr. ₹ 40,941 Cr. 0.0% 7.7% 2.5% 6.8% 4.7% 14.3% 15.1% 13.2% 14.8% 14.2% 11.3% 11.0% 11.4% 11.5% 16.7% 19.9% 19.9% 16.7% 25.9% 35.8% 52.0% 54.0% 45.7% 41.1% 33.8% Mar-20 Mar-21 Mar-22 Mar-23 Mar-24 Debentures Bank Borrowings* Securitisation Deposits Commercial Paper * Includes a) Term loans b) Commercial Papers and demand loans availed against the sanctioned limits. 27 PAT & ROA ₹ in Crore Profit after Tax Return on Assets - % 1,454 120 3.2 1,088 386 2.8 903 809 316 2.5 724 300 2.3 # 53 243 2.0 # 366 671 303 226 282 Mar-20 Mar-21 Mar-22 Mar-23 Mar-24 Mar-20 Mar-21 Mar-22 Mar-23 Mar-24 EPS (₹) 65.2 72.8 81.3 98.0 130.9 # adjusted for exceptional item Q1 Q2 Q3 Q4 Exceptional Item 28 NET WORTH ₹ in Crore Net worth 9,472 7,737 6,893 6,179 5,547 Mar-20 Mar-21 Mar-22 Mar-23 Mar-24 Book Value (₹) 499.3 556.2 620.4 696.4 852.5 29 LEVERAGE AND CAPITAL ADEQUACY Leverage Capital adequacy 4.9 4.6 24.4% 4.3 22.8% 4.2 22.1% 4.0 20.5% 18.4% Mar-20 Mar-21 Mar-22 Mar-23 Mar-24 Mar-20 Mar-21 Mar-22 Mar-23 Mar-24 30 04 Consolidated results 31 CONSOLIDATED RESULTS ₹ in Crore Profit after Tax Net Worth 11,078 1,436 9,920 1,328 8,795 1,165 1,173 268 7,730 443 6,677 792 427 333 366 306 375 246 Mar-20 Mar-21 Mar-22 Mar-23 Mar-24 Mar-20 Mar-21 Mar-22 Mar-23 Mar-24 Book Value EPS (₹) 71.9 105.7 106.5 120.5 130.3 606.1 701.6 798.2 900.2 1005.3 (₹) Q1 Q2 Q3 Q4 32 CONSOLIDATED RESULTS ₹ in Crore Particulars Share of Net Worth Share in Profit 31-Mar-23 31-Mar-24 FY23 FY24 Sundaram Finance Ltd. 7,737 9,472 1,088 1,454 Subsidiaries: Sundaram Home Finance Ltd. 1,805 1,880 215 236 Sundaram Finance Holdings Ltd. (Consolidated)* 839 - 56 125 Sundaram Asset Management Company Ltd. (Consolidated) 454 431 85 112 Sundaram Fund Services Ltd. 1 1 - - Sundaram Finance Employees Welfare Trust 20 22 2 2 Sundaram Trustee Company Ltd. 4 4 1 2 LGF Services Ltd. 3 4 - - Joint Control Entities: Royal Sundaram General Insurance Co. Ltd. 721 821 22 84 Adjustment arising out of Consolidation (1,664) (1,557) (141) (579) Total 9,920 11,078 1,328 1,436 * SFHL has ceased to be a subsidiary of the Company effective 26th March 2024. 33 SUNDARAM HOME FINANCE Particulars Q4 FY24 Q3 FY24 Q4 FY23 FY24 FY23 Disbursements (₹ in Crore) 1,469 1,252 1,204 5,029 3,901 Housing 52.1% 53.2% 54.6% 50.9% 55.6% Non-Housing 47.9% 46.8% 45.4% 49.1% 44.4% AUM (₹ in Crore) 13,812 12,973 11,181 13,812 11,181 Housing 61.0% 61.7% 64.9% 61.0% 64.9% Non-Housing 39.0% 38.3% 35.1% 39.0% 35.1% PAT (₹ in Crore) 56.8 62.3 65.3 235.8 215.4 EPS (₹) 22.44 24.60 25.79 23.29 21.27 Net worth (₹ in Crore) 1,880 1,883 1,805 1,880 1,805 Book Value (₹) 185.70 186.00 178.27 185.70 178.27 Gross Stage 3% 1.2% 1.3% 2.3% 1.2% 2.3% Net Stage 3% 0.5% 0.6% 1.1% 0.5% 1.1% CAR 20.3% 20.3% 23.5% 20.3% 23.5% Branches 138 138 117 138 117 Staffs 1,548 1,461 1,127 1,548 1,127 Customers 59,620 60,014 57,377 59,620 57,377 34 ROYAL SUNDARAM Particulars Q4 FY24 Q3 FY24 Q4 FY23 FY24 FY23 Gross Written Premium (₹ in Crore) 1,033 974 938 3,825 3,517 AUM (₹ in Crore) 8,673 8,513 7,673 8,673 7,673 PAT (₹ in Crore) (9) 33 38 169 44 Other Comprehensive Income (Net of Taxes) 34 4 1 61 (121) Total Comprehensive Income 26 37 39 230 (77) Net worth (₹ in Crore) 1,642 1,616 1,443 1,642 1,443 Combined Operating Ratio 118% 116% 101% 115% 111% Branches 161 161 164 161 164 Staffs 2,708 2,804 2,910 2,708 2,910 Customers 30,33,437 31,20,574 32,53,364 30,33,437 32,53,364 Profit after tax during FY24 includes net gain of Rs. 71 crores on Fair Value of Equity investments as against net loss on Fair Value of equity investments of Rs. 105 crores in FY23. 35 SUNDARAM ASSET MANAGEMENT Particulars Q4 FY24 Q3 FY24 Q4 FY23 FY24 FY23 AUM (₹ in Crores) 70,883 67,272 54,719 70,883 54,719 Equity (₹ in Crores) 61,241 57,784 45,748 61,241 45,748 Debt (₹ in Crores) 9,642 9,488 8,971 9,642 8,971 PAT (₹ in Crores) 38 26 19 112 85 Net worth (₹ in Crores) 431 489 454 431 454 Staffs 555 551 506 555 506 Retail Investors 13,49,667 12,95,511 13,19,288 13,49,667 13,19,288 Branches 85 85 85 85 85 36 05 More about Sundaram Finance 37 SHAREHOLDING PATTERN 31-Mar-23 31-Mar-24 Top institutional shareholders As of 31st March 2024 Name of Shareholder Share % Axis Mutual Fund 3.92 Nalanda India Equity Fund Limited 3.78 32.1% 32.8% 38.5% 37.9% Bright Star Investments Private Limited 2.37 SBI Mutual Fund 1.35 HSBC Mutual Fund 1.31 HDF Life Insurance Company Limited 1.19 3.7% 2.9% United India Insurance Company Limited 1.13 Pari Washington India Master Fund Limited 1.00 12.5% 13.2% 16.9% 9.5% Damani Estate and Finance Private Limited 0.93 BNP Paribas Financial Markets 0.92 Promoters Mutual Funds & AIFs FIIs/FPIs and NRIs Banks, Financial Institutions & Insurance Companies Public 38 CREDIT RATINGS Instrument ICRA CRISIL Deposits AAA (Stable) AAA (Stable) Debentures AAA (Stable) AAA (Stable) Subordinated Debentures AAA (Stable) AAA (Stable) Long Term Loans AAA (Stable) AAA (Stable) Working Capital Facilities AAA (Stable) Commercial Paper A1+ A1+ Short Term Loans A1+ 39  Mar-19 Jun-19 Sep-19 Dec-19 SHARE PRICE MOVEMENT Mar-20 Jun-20 Sep-20 Dec-20 Mar-21 Jun-21 SFL Closing Share Price Sep-21 Dec-21 Mar-22 Indexed share price and Nifty from March 2019 Jun-22 S & P CNX Nifty Sep-22 Dec-22 Mar-23 Jun-23 Sep-23 Dec-23 Mar-24 192.08 265.47 40 SUBSIDIARIES & JOINT VENTURES Subsidiaries Joint Venture Sundaram Home Finance Limited Royal Sundaram General Insurance Company Limited Sundaram Asset Management Company Limited Sundaram Asset Management Singapore Pte. Limited Sundaram Trustee Company Limited Sundaram Alternate Assets Limited Sundaram Fund Services Limited LGF Services Limited 41 BOARD OF DIRECTORS AS ON 24.05.2024 Sri S. Viji Sri T. T. Srinivasaraghavan Sri Srivats Ram Chairman Non-executive Director Non-executive Director Has over 5 decades of experience in Banking, Finance, Has over 4 decades of experience in Banking and Financial Has nearly 3 decades of rich experience in auto Insurance and Automotive Component Manufacturing Services. He served as the Managing Director of the company component manufacturing industry. He is the Managing Industry. He is the Executive Vice Chairman of Brakes India for a period of 18 years. Director of Wheels India Limited. Private Limited. B.Com. BA (Economics) B.Com. MBA (Gannon University, Pennsylvania) MBA (Case Western Reserve University, USA) ACA MBA (University of Michigan, USA) Sri S. Mahalingam Sri Raghuttama Rao Raghavendra Sri L. Ganesh Independent Director Independent Director Independent Director 4 decades of experience in Finance and Information Has over 3 decades of work experience spanning Has over 4 decades of Industrial experience in and Technology. Formerly Chief Financial Officer and Executive Manufacturing, Financial Markets, Public Policy and overall management of the companies. He is the Chairman Director of Tata Consultancy Services. Management Consulting. Currently CEO of GDC at IIT Madras. of Rane Holdings Limited, one of the acknowledged Formerly, MD of IMaCS and Joint Managing Director of ICRA. leaders in the auto component industry since 2006. B.Com. (Honours) FCA B.Tech. (Mech. Engg.) – IIT Madras MBA (Pennsylvania State University, USA) CMA – ICWAI ACA He will be completing his second term of office on 25th May P.G.D.M. – IIM Ahmedabad 2024. 42 BOARD OF DIRECTORS AS ON 24.05.2024 Ms Bhavani Balasubramanian Dr. Kshama Fernandes Sri R. Venkatraman Independent Director Independent Director Independent Director Has over 4 decades of audit experience including Has close to 4 decades of experience in consulting and Has nearly 3 decades of experience spanning across overseas experience. Formerly a partner of Fraser & Ross advisory services across various industries. He was the management, risk advisory and academia. She is the Non- and Deloitte Haskins & Sells, with extensive experience in head of KPMG India’s consulting practice, and the co- executive Vice Chairperson of the Northern Arc Group and auditing a variety of clients, including listed companies and head of their risk advisory services. He was also a Executive Chairperson of Northern Arc Investment Managers. multinationals in different industries in India and abroad. partner at AT Kearney and Andersen Business PhD Finance Consulting. He is also a visiting professor at Indian FCA Institute of Management, Trichy. ACS BE (Mechanical) - Birla Institute of Technology, MBA /PGDM - IIM Bangalore Ms. Anuradha Rao Independent Director Has nearly 4 decades of experience in Banking and Finance. Formerly served as Deputy Managing Director of State Bank of India. She also served as the Managing Director and Chief Executive Officer of SBI Funds Management Private Limited. B.Sc. (Osmania University) M.Sc. (Physics) – University of Hyderabad & CAIIB 43 BOARD OF DIRECTORS AS ON 24.05.2024 Sri Harsha Viji Sri Rajiv C. Lochan Sri A. N. Raju Executive Vice Chairman Managing Director Deputy Managing Director Has more than 2 decades of experience in areas of Has nearly 3 decades of experience in the field of Has nearly 4 decades of experience in the specialisation particularly, strategy formulation, joint management especially in the areas of finance, social sector, Automobile, Engineering, Finance and General venture negotiations, new business development. and public health. Formerly MD & CEO of The Hindu Group Management. Formerly with GE Capital & SRF Group. Formerly with McKinsey & Company and and Partner at McKinsey & Company. PriceWaterhouse. BSc (Engineering) B.Tech. (IIT, Madras) MBA B.Com. MS (MIT) ACA MBA (Columbia Business School) MBA (Ann Arbor, Michigan) 44 KEY MANAGERIAL PERSONNEL Sri M. Ramaswamy Sri P. N. Srikant Chief Financial Officer Chief Compliance Officer & Company Secretary He has nearly 4 decades of experience in the Company. He is the Chief He has nearly 3 decades of experience in the Company/Group. He is the Chief Financial Officer of the Company from September 2011. He is responsible Compliance Officer & Company Secretary and responsible for statutory for the Treasury Management, Financial Planning & Accounting, Taxation compliance in respect of all laws and regulations applicable to the Company, and Regulatory Compliance. He is a member of the Risk Management including Company Law, SEBI and RBI. He liaises with the Board Members in Committee and Asset Liability Management Committee of the Company. connection with all Board related actions in the Company. B.Sc. (Statistics) B.Com (H) ACA ACS PGDFM 45 This document is for information purposes only and is not and does not form part of an invitation/ offer/advertisement/advise to purchase or sell any securities of the Company. The materials and information contained in the document are prepared by the Company and are correct and accurate, to the best of our knowledge. No information contained herein has been independently verified by anyone else or approved by any regulatory authorities. No warranty is given as to their accuracy and the company does not accept any responsibility and shall not be liable for any direct or indirect loss caused, arising from and/or use of this document. Forward-looking statements, if any, are subject to risks, uncertainties and assumptions that could cause actual results to differ materially from those contemplated by the relevant statement. The contents of the website are subject to changes and reviews from time to time without notice. By accessing the site, you are deemed to accept the disclaimer clause. Sri M. Ramaswamy Sri P. N. Srikant Chief Financial Officer Chief Compliance Officer & Company Secretary Sundaram Finance Limited Sundaram Finance Limited 21, Patullos Road 21, Patullos Road Chennai – 600002 Chennai – 600002 044 – 28881341 044 – 28881207 [email protected] [email protected] 46