HDFC Securities: Shriram Transport - Asset Quality Concerns Remain
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HDFC Securities Report
Shriram Transport Finance Company Ltd.’s Q2 earnings were ahead of estimates on account of lower-than- expected provisions.
The company witnessed a significant and sustained improvement in monthly collection efficiency (reaching approximately 95% in September).
Despite this, we remain cautious on the company’s asset quality and continue to build in a significant rise in gross non-performing assets in FY21E.
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