Sundaram Finance FY23 Performance Highlights PDF

PERFORMANCE HIGHLIGHTS FY23 CONTENTS 01 02 03 04 05 Overview of Financial results & Key trends in financial Consolidated results More about Sundaram Finance performance performance...

PERFORMANCE HIGHLIGHTS FY23 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 Vision P G Mission To be the most respected NBFC To deliver the “Sundaram in the country experience” to all our customers, Q big and small, in keeping with the ethos of the company 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 Staffs * Customer count 34,552 671 7,371 5,32,533 7,673 164 2,910 32,53,364 Joint Venture with Ageas Insurance International NV 11,181 117 1,127 41,431 100% subsidiary 54,804 85 506 13,19,288 100% subsidiary Group 1,08,210 1,037 11,914 51,46,616 * Includes off roll employees 6 STRATEGIC SOURCES OF DISTINCTIVENESS 68-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 nearly Rs. 1,10,000 cr. operator, infrastructure contractor, small farmer, MSME owner) Legacy of deep customer Technology-enabled Consistent best-in-class connect and loyalty with and data-powered asset quality 80% renewal rate approach to a high-touch performance over decades across offerings customer approach 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 39,950 35,088 35,736 33,447 33,774 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 3,093 Mar-04 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 9 SUNDARAM FINANCE – PERFORMANCE OVER LAST TWENTY YEARS ₹ in Crore PAT 1,126 1,088 903 522 809 724 53 563 477 495 355 443 454 410 26 41 295 227 39 563 604 213 495 171 151 26 428 436 100 77 56 76 89 201 256 82 136 Mar-04 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 Exceptional item 10 SUNDARAM FINANCE – PERFORMANCE OVER LAST TWENTY YEARS ₹ in Crore Market Capitalization 28,560 25,548 21,560 17,940 18,634 17,318 16,859 14,450 13,366 7,359 5,265 3,645 2,096 2,722 1,078 1,099 1,602 917 533 782 Mar-04 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 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 16.3 14.9 15.5 15.3 14.4 13.0 12.6 Mar-04 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 ROE% 11.0 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 * Core ROE (excluding investments in subsidiaries) 12 02 Financial results & performance 13 OVERALL HIGHLIGHTS OF FINANCIAL PERFORMANCE As of 31st March 2023 AUM Gross Stage 3 Cost-to-income ROA ROE ₹34,552 Crores 1.66% 34.36% 2.8% 14.9%* 17.0% up 2.19% 32.36% 2.5% 13.8% from Mar 22 in Mar 22 in FY22 in FY22 in FY22 150% final dividend (₹ 15 per share) declared. Total dividend for FY23 270% (₹ 27 per share) *Core ROE (excluding investments in subsidiaries) at 18.5% vs. 18.2% 14 HIGHLIGHTS – GROWTH OF 58% IN CORE BUSINESS Economic activity continued to improve across all segments during FY23 despite global geo-political tensions and consequent inflation and monetary policy actions. Growth in disbursements was driven by sharp focus on ensuring rightful market share in all asset classes and geographies of operations. FY23 disbursements are highest-ever and grew 58% over FY22. Disbursements for FY23 recorded a growth of 58% to Commercial vehicles, especially medium and heavy commercial ₹20,966 crores as compared to ₹13,275 crores registered in the vehicles, recovery continued through FY23. Prospects for growth corresponding period of the previous year. Adjusting for the pandemic- segments of Construction Equipment, Tractor & Farm Equipment as induced ECLGS scheme, core business disbursements grew by well as Commercial Lending continue to remain bright. Demand for 60% in FY23 compared to FY22 passenger vehicles remains strong. The assets under the management stood at ₹34,552 crores as on The total restructured assets under Covid package were ₹ 628 crores, 31st March 2023 as against ₹ 29,532 crores as on 31st March 2022, about 1.8% of outstanding loans as on 31st March 2023. registering a 17% increase year-on-year. 15 HIGHLIGHTS – 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. During Q2 FY23, we have adopted, effective April 1, 2022, the tighter norms imposed by the RBI on asset classification ahead of the October 1, 2022 regulatory deadline. Gross stage 3 assets as on 31st March 2023 stood at 1.66% with provision cover of 49% when compared to 2.19% with 52% provision cover as of 31st March 2022. Net stage 3 assets as on 31st March 2023 closed at 0.86% as against 1.07% as on 31st March 2022. RBI vide its circulars dated 12th November 2021 & 15th February 2022 has modified the upgradation norms for Non-Performing Assets for NBFCs. During Q2 FY 23, the Company has adopted the new norms effective 1st April 2022, ahead of the regulatory deadline of 1st October 2022. As a matter of prudence, the ECL model was suitably amended to provide higher provisions to reflect the underlying risk for those loan assets under new norms. With the improvement in the asset quality, the impairment cost for FY23 was Rs. 134 crores as against Rs. 319 crores in FY22. The Gross and Net NPA, per RBI’s tighter norms on asset classification, are 3.00% and 2.10% respectively as against 2.42% and 1.26% as of 31st March 2022 (based on old norms). 16 HIGHLIGHTS – PROFITABILITY IMPROVED CONSISTENTLY Profits after tax grew 20% over FY22 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 and 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 34.36% in FY23 as against 32.36% in Return on assets (ROA) for FY23 closed at 2.8% as against 2.5% for FY22. FY22. Profit after tax at ₹ 1088 crores in FY23 crores as against ₹ 903 crores Return of equity (ROE) was at 14.9% for FY23 as against 13.8% for in FY22, up by 20%; Profit after tax for Q4 FY23 up by 6% to Rs. 316 FY22. If we exclude investments in subsidiaries and group companies, crores from Rs. 299 crores in Q4 FY22 core ROE was at 18.5% for FY23 as against 18.2% for FY22 17 PROFIT & LOSS STATEMENT ₹ in Crore Particulars Q4 FY23 Q3 FY23 Q4 FY22 FY23 FY22 Revenue From Operations* 1,034.93 991.70 927.40 3,984.46 3,827.64 Other Income 50.96 2.28 8.65 63.74 20.43 Total Revenue 1,085.89 993.98 936.05 4,048.20 3,848.07 Finance cost 490.21 457.26 410.89 1,777.09 1,700.11 Operating expenses 173.94 180.31 175.62 716.90 652.54 Impairment 16.79 37.29 (28.37) 134.25 318.52 Total Expenses 680.94 674.86 558.14 2,628.24 2,671.17 Profit Before Tax 404.95 319.12 377.91 1,419.96 1,176.90 Profit After Tax 316.36 242.68 298.80 1,088.31 903.41 *Revenue from operations is net of depreciation on operating lease. During Q4 FY 23, as a matter of prudence, the ECL model was tweaked to provide higher provisions of Rs 29 Cr for Stage 1 & 2 assets. 18 BALANCE SHEET ₹ in Crore Particulars 31-Mar-23 31-Dec-22 31-Mar-22 Equity and Liabilities Financial Liabilities 33,254.03 30,734.62 28,323.23 Non-Financial Liabilities 67.27 63.68 71.20 Equity 7,737.40 7,557.94 6,893.09 Total – Equity and Liabilities 41,058.70 38,356.24 35,287.52 Assets Financial Assets 39,937.75 37,314.91 34,413.89 Non-Financial Assets 1,120.95 1,041.33 873.63 Total – Assets 41,058.70 38,356.24 35,287.52 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-12 55.55 1,789 9,433 15,540 355.45 155 3,645 Mar-13 *111.10 2,087 9,991 17,645 410.11 90 5,265 Mar-14 111.10 2,405 9,719 18,158 442.51 100 7,359 Mar-15 111.10 2,978 10,012 18,734 454.14 105 16,859 Mar-16 111.10 3,313 11,444 20,699 477.28 110 14,450 Mar-17 111.10 3,746 13,218 24,036 **495.35 115 17,940 Mar-18 111.10 4,134 15,712 28,648 563.44 120 18,634 Mar-19 111.10 5,044 17,170 33,447 @604.04 #175 17,318 Mar-20 111.10 5,547 15,175 35,088 723.95 130 13,366 Mar-21 111.10 6,179 11,742 35,736 809.05 180 28,560 Mar-22 111.10 6,893 13,275 33,774 903.41 200 21,560 Mar-23 111.10 7,737 20,966 39,950 1,088.31 270 25,548 * 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 34,552 20,966 0.2% 29,936 30,882 29,532 17,170 5,259 28,984 2.7% 4.6% 1.2% 15,175 4.8% 13,275 11,742 5,653 3,751 99.8% 97.3% 98.8% 95.2% 95.4% 3,843 5,139 3,621 4,915 2,060 Mar-19 Mar-20 Mar-21 Mar-22 Mar-23 Mar-19 Mar-20 Mar-21 Mar-22 Mar-23 Growth 9.3% -11.6% -22.6% 13.1% 57.9% Growth 16.1% 3.3% 3.2% -4.4% 17.0% Q1 Q2 Q3 Q4 On Books Assigned / Securitised 22 DISBURSEMENTS Mar-22 Mar-23 3.8% 2.4% 6.9% 1.6% MHCV Retail CV 8.9% 27.6% 7.7% 31.1% Cars 11.5% 10.8% ₹ 13,275 Cr. ₹20,966 Cr. Construction Equipment Asset wise Tractors 18.8% 24.2% 27.0% 17.7% Commercial Lending Used Assets – 22.3% Used Assets – 22.4% Others 4.7% 4.4% South 14.1% 11.7% North ₹ 13,275 Cr. 51.3% ₹ 20,966 Cr. 26.1% 57.8% West Region wise 29.9% East ICV, LCV and SCV as Retail CV 23 AUM Mar-22 Mar-23 7.0% 5.4% MHCV 3.1% 4.1% Retail CV 8.1% 28.5% 8.0% 29.3% Cars 11.1% 10.7% ₹ 29,532 Cr. ₹34,552 Cr. Construction Equipment Asset wise Tractors 17.1% 17.5% 25.1% 25.0% Commercial Lending Used Assets – 17.4% Used Assets – 18.1% Others 4.4% 4.4% South 13.0% 12.6% North ₹ 29,532 Cr. ₹ 34,552 Cr. 57.5% 56.5% West Region wise 25.1% 26.5% East ICV, LCV and SCV as Retail CV 24 PORTFOLIO QUALITY Gross Stage 3% Net Stage 3% 2.47% 2.19% 1.84% 1.66% 1.65% 1.33% 1.01% 1.07% 0.83% 0.86% Mar-19 Mar-20 Mar-21 Mar-22 Mar-23 Mar-19 Mar-20 Mar-21 Mar-22 Mar-23 25 FUNDING MIX ₹ 26,673 Cr. ₹ 29,007 Cr. ₹ 29,251 Cr. ₹ 28,297 Cr. ₹ 32,915 Cr. 0.0% 3.4% 7.7% 2.5% 6.8% 11.6% 14.3% 15.1% 13.2% 14.8% 11.3% 11.0% 20.4% 11.4% 16.7% 19.9% 19.9% 25.4% 16.7% 25.9% 52.0% 54.0% 45.7% 41.1% 39.2% Mar-19 Mar-20 Mar-21 Mar-22 Mar-23 Debentures Bank Borrowings* Securitisation Deposits Commercial Paper * Includes a) Term loans b) Commercial Papers and demand loans availed against the sanctioned limits. 26 PAT & ROA ₹ in Crore Profit after Tax Return on Assets - % 1,126 1,088 2.8 903 809 316 2.5 522 724 299 2.3 53 243 2.0 # 2.0 # 202 671 303 211 604 191 226 Mar-19 Mar-20 Mar-21 Mar-22 Mar-23 EPS (₹) 101.4 65.2 72.8 81.3 98.0 Mar-19 Mar-20 Mar-21 Mar-22 Mar-23 Exceptional Item Q1 Q2 Q3 Q4 # adjusted for exceptional item 27 NET WORTH ₹ in Crore Net worth 7,737 6,893 6,179 5,547 5,044 Mar-19 Mar-20 Mar-21 Mar-22 Mar-23 Book Value (₹) 454.0 499.3 556.2 620.4 696.4 28 LEVERAGE AND CAPITAL ADEQUACY Leverage Capital adequacy 5.0 4.9 24.4% 4.6 22.8% 22.1% 4.2 19.4% 4.0 18.4% Mar-19 Mar-20 Mar-21 Mar-22 Mar-23 Mar-19 Mar-20 Mar-21 Mar-22 Mar-23 29 04 Consolidated results 30 CONSOLIDATED RESULTS ₹ in Crore Profit after Tax Net Worth 9,910 8,795 7,730 6,677 1,318 6,259 1,161 1,165 1,173 792 340 433 289 333 259 306 285 246 Mar-19 Mar-20 Mar-21 Mar-22 Mar-23 EPS (₹) 105.4 71.9 105.7 106.5 119.6 Mar-19 Mar-20 Mar-21 Mar-22 Mar-23 Book 568.3 606.1 701.6 798.2 899.3 Q1 Q2 Q3 Q4 Value (₹) 31 CONSOLIDATED RESULTS ₹ in Crore Particulars Share of Net Worth Share in Profit 31-Mar-22 31-Mar-23 FY22 FY23 Sundaram Finance Ltd. 6,893.09 7,737.40 903.41 1,088.31 Subsidiaries: Sundaram Home Finance Ltd. 1,654.98 1,805.03 167.70 215.41 Sundaram Finance Holdings Ltd. (Consolidated) 705.24 838.67 37.80 55.80 Sundaram Asset Management Company Ltd. (Consolidated) 364.08 404.15 71.63 73.11 Sundaram Fund Services Ltd. 39.06 41.11 2.27 2.03 Sundaram Finance Employees Welfare Trust 18.12 19.87 1.17 1.74 Sundaram Trustee Company Ltd. 2.62 3.58 0.97 1.26 LGF Services Ltd. 3.57 3.48 0.12 0.03 Joint Control Entities: Royal Sundaram General Insurance Co. Ltd. 773.49 721.38 86.21 21.77 Adjustment arising out of Consolidation (1,659.42) (1,664.82) (97.94) (141.67) Total 8,794.83 9,909.85 1,173.34 1,317.81 32 SUNDARAM HOME FINANCE Particulars Q4 FY23 Q3 FY23 Q4 FY22 FY23 FY22 Disbursements (₹ in Crore) 1,204 961 794 3,901 2,311 Housing 54.6% 54.8% 56.1% 56.9% 66.3% Non-Housing 45.4% 45.2% 43.9% 43.1% 33.7% AUM (₹ in Crore) 11,181 10,564 9,495 11,181 9,495 Housing 64.9% 69.2% 69.6% 64.9% 69.6% Non-Housing 35.1% 30.8% 30.4% 35.1% 30.4% PAT (₹ in Crore) 65.3 52.6 53.1 215.4 167.7 EPS (₹) 6.45 5.19 5.24 21.27 16.56 Net worth (₹ in Crore) 1,805 1,739 1,655 1,805 1,655 Book Value (₹) 178.27 171.74 163.45 178.27 163.45 Gross Stage 3% 2.3% 2.9% 3.0% 2.3% 3.0% Net Stage 3% 1.1%* 1.6% 1.6% 1.1%* 1.6% CAR 23.5% 24.2% 25.7% 23.5% 25.7% Branches 117 111 105 117 105 Staffs 1,127 1,047 861 1,127 861 Customers 41,431 40,605 40,237 41,431 40,237 The momentum on disbursements continued from Q4 of last year into this year driven by an increasing demand for home loans in tier 2 and 3 towns in the southern markets, a priority focus for the company. * Net Stage 3 excluding restructured accounts is 0.85%. 33 ROYAL SUNDARAM Particulars Q4 FY23 Q3 FY23 Q4 FY22 FY23 FY22 Gross Written Premium (₹ in Crore) 938 934 819 3,517 2,966 AUM (₹ in Crore) 7,673 7,744 7,282 7,673 7,282 PAT (₹ in Crore) 38 5 (17) 44 172 Other Comprehensive Income (Net of Taxes) 1 10 (25) (121) (54) Total Comprehensive Income 39 15 (42) (77) 118 Net worth (₹ in Crore) 1,443 1,404 1,547 1,443 1,547 Combined Operating Ratio 101% 112% 114% 111% 117% Branches 164 161 158 164 158 Staffs 2,910 2,938 2,916 2,910 2,916 Customers 32,53,364 33,77,529 29,69,390 32,53,364 29,69,390 The current year’s profit was lower than previous year majorly due to Mark to Market loss ₹ 78 cr. (net of tax) on equity investments compared to (a) Mark to Market gain ₹ 33 cr. (net of tax) and (b) impairment reversal on certain bonds of ₹ 37 cr. (net of tax) in the previous year. 34 SUNDARAM ASSET MANAGEMENT Particulars Q4 FY23 Q3 FY23 Q4 FY22 FY23 FY22 AUM (₹ in Crores) 54,804 56,787 54,901 54,804 54,901 Equity (₹ in Crores) 45,742 48,023 46,069 45,742 46,069 Debt (₹ in Crores) 9,062 8,764 8,832 9,062 8,832 PAT (₹ in Crores) 19 20 (1) 73 72 Net worth (₹ in Crores) 404 385 364 404 364 Staffs 506 501 478 506 478 Retail Investors 13,19,288 14,19,082 13,09,851 13,19,288 13,09,851 Branches 85 85 85 85 85 The profits for FY23 is lower by ₹ 23 crores due to amortization of ₹ 234 crores of Asset Management rights consequent to the acquisition of Principal Mutual Fund in FY 22. 35 05 More about Sundaram Finance 36 SHAREHOLDING PATTERN 31-Mar-22 31-Mar-23 Top institutional shareholders As of 31st March 2023 Name of Shareholder Share % Axis Mutual Fund 5.51 32.1% Nalanda India Equity Fund Limited 3.78 33.0% 38.5% 38.5% ICICI Prudential Mutual Fund 2.83 Bright Star Investments Pvt Ltd. 2.37 HDFC Life Insurance Company Limited 1.98 Kotak Mutual Fund 1.56 3.9% 3.7% United India Insurance Company Limited 1.25 Pari Washington India Master Fund Ltd. 1.09 14.2% 10.4% 12.5% 13.2% Damani Estate and Finance Pvt Ltd. 0.93 Sundaram Finance Employees Welfare Trust 0.82 Promoters Mutual Funds & AIFs FIIs/FPIs and NRIs Banks, Financial Institutions & Insurance Companies Public 37 BRANCH NETWORK 31-Mar-22 31-Mar-23 40 40 72 76 324 344 182 211 No. of Branches: 618 No. of Staffs: 6,567 No. of Branches: 671 No. of Staffs: 7,371 South North West East 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-18 Jun-18 Sep-18 Dec-18 SHARE PRICE MOVEMENT Mar-19 Jun-19 Sep-19 Dec-19 Mar-20 Jun-20 SFL Closing Share Price Sep-20 Dec-20 Mar-21 Indexed share price and Nifty from March 2018 Jun-21 S & P CNX Nifty Sep-21 Dec-21 Mar-22 Jun-22 Sep-22 Dec-22 Mar-23 137.10 171.64 40 SUBSIDIARIES, JOINT VENTURES & ASSOCIATES Subsidiaries Joint Venture Sundaram Home Finance Limited Royal Sundaram General Insurance Co. Limited Sundaram Finance Holdings Limited Sundaram Business Services Limited Sundaram Asset Management Company Limited Associates of a Subsidiary Company SAMC Support Services Private Limited Axles India Limited The Dunes Oman LLC (FZC) SAMC Trustee Private Limited Wheels India Limited Mind S.r.l. SAMC Services Private Limited Turbo Energy Private Limited Sundaram Composite Structures Sundaram Asset Management Singapore Pte. Limited Private Limited Trans Energy Private Limited Sundaram Trustee Company Limited India Motor Parts & Accessories Sundaram Dynacast Private Sundaram Alternate Assets Limited Limited Limited Sundaram Fund Services Limited Sundaram Hydraulics Limited LGF Services Limited Brakes India Private Limited 41 BOARD OF DIRECTORS Sri S Viji Sri S Prasad Sri Raghuttama Rao Raghavendra Chairman Independent Director Independent Director Has over 5 decades of experience in Banking, Has more than a decade of experience in industry as Has over 3 decades of work experience spanning Finance, Insurance and Automotive Component finance professional and over 42 years as a Manufacturing, Financial Markets, Public Policy and Manufacturing Industry. He is the Executive Vice practicing Chartered Accountant. Management Consulting. Currently CEO of GDC at Chairman of Brakes India Private Limited. IIT Madras. Formerly, MD of IMaCS and Joint FCA Managing Director of ICRA. B.Com. ACA B.Tech. (Mech. Engg.) – IIT Madras MBA (University of Michigan, USA) CMA – ICWAI P.G.D.M. – IIM Ahmedabad Sri P N Venkatachalam Sri S Mahalingam Sri L Ganesh Independent Director Independent Director Independent Director Has over 47 years of Industrial experience in and Has nearly 4 decades of experience in Banking, 4 decades of experience in Finance and Information overall management of the companies. He is the Finance and Capital Markets. Formerly Managing Technology. Formerly Chief Financial Officer and Chairman of the Rane Group, one of the Director of State Bank of India. Executive Director of Tata Consultancy Services. acknowledged leaders in the auto component industry since 2006. MA (Economics), CAIIB B.Com. (Honours) FCA MBA((Pennsylvania State University, USA) ACA 42 BOARD OF DIRECTORS Ms Shobhana Ramachandhran Ms Bhavani Balasubramanian Sri T T Srinivasaraghavan Sri Srivats Ram Independent Director Independent Director Non-executive Director Non-executive Director Has 3 decades of experience in General Has over 4 decades of audit experience Has over 4 decades of experience in Banking Has more than 2 decades of rich experience Management and automobile industry. She including overseas experience. Formerly a and Financial Services. He served as the in auto component manufacturing industry. He is the Managing Director of TVS Srichakra partner of Fraser & Ross and Deloitte Haskins Managing Director of the company for a period is the Managing Director of Wheels India Limited. & Sells, with extensive experience in auditing a of 18 years. Limited. variety of clients, including listed companies MA (English Literature) and multinationals in different industries in B.Com. BA (Economics) India and abroad. MBA (Gannon University, MBA (Case Western Reserve Pennsylvania) University, USA) FCA ACS 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 Has nearly 3 decades of experience in the Has nearly 4 decades of experience in the areas of specialisation particularly, strategy field of management especially in the areas of Automobile, Engineering, Finance and General formulation, joint venture negotiations, new finance, social sector, and public health. Management. Formerly with GE Capital & SRF business development. Formerly with Formerly MD & CEO of The Hindu Group and Group. McKinsey & Company and PriceWaterhouse Partner at McKinsey & Company. BSc (Engineering) B.Com. B.Tech. (IIT, Madras) MBA ACA MS (MIT) MBA (Ann Arbor, Michigan) MBA (Columbia Business School) 43 KEY MANAGERIAL PERSONNEL Sri M. Ramaswamy Sri P N Srikant Chief Financial Officer Company Secretary & Compliance Officer He has over 35 years of experience in the Company. He is the Chief He has over 27 years of experience in the Company/Group. He became the Financial Officer of the Company from September 2011. He is responsible Secretary and Compliance Officer of the Company from June 2022. He is for the Treasury Management, Financial Planning & Accounting, Taxation responsible for statutory compliance in respect of all laws and regulations and Regulatory Compliance. He is a member of the Risk Management applicable to the Company, including Company Law, SEBI and RBI. He liaises Committee and Asset Liability Management of the Company. with the Board Members in connection with all Board related actions in the Company. B.Sc. (Statistics) ACA B.Com (H) ACS PGDFM 44 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 Secretary & Compliance Officer Sundaram Finance Limited Sundaram Finance Limited 21, Patullos Road 21, Patullos Road Chennai – 600002 Chennai – 600002 044 – 28881341 044 – 28881207 [email protected] [email protected] 45