Shriram Transport Finance Fixed Deposits

#1
I had applied for the Shriram Transport Finance Fixed Deposits on 13/01/2010 under quarterly interest payment option via ICICIDirect. The status is still showing 'Under process'. Has anybody applied and received the certificates (or updates in portfolio in ICICIDirect) ? How much time do they need to process ?
 

Alchemist

Administrator
Staff member
#2
Write to ICICIDirect support.

Sometimes due to technical problems, applications don't get processed.

I have such a problem with Maruti IPO.
 
#3
I have found ICICIDirect Customer Support to be the most useless entity when help is needed. Recently to one of my question they asked me to contact the registrar/transfer agent as these people are suppose to transfer the details to my portfolio. ICICIDirect has nothing to do and gave me NSEIndia site details to look for the agents and contacts. ICICIDirect is just a dalal as usual.
 
#4
While looking at Shriram Transport's financial statements , I see that they have been reporting -ve operating cash flows in successive years ( possibly from large interest payments ??? ) :

Shriram Transport Finance Corporation Cash Flow, Shriram Transport Finance Corporation Financial Statement & Accounts

Why does this not reflect in the income statement, the income statement keeps showing increasing profit ?

Shriram Transport Finance Corporation Profit & Loss account, Shriram Transport Finance Corporation Financial Statement & Accounts
 
#5
While looking at Shriram Transport's financial statements , I see that they have been reporting -ve operating cash flows in successive years ( possibly from large interest payments ??? ) :

Shriram Transport Finance Corporation Cash Flow, Shriram Transport Finance Corporation Financial Statement & Accounts

Why does this not reflect in the income statement, the income statement keeps showing increasing profit ?

Shriram Transport Finance Corporation Profit & Loss account, Shriram Transport Finance Corporation Financial Statement & Accounts
Increase / Decrease in hypothecated, secured and unsecured loans under "Assets under Financing Activities" was a part of operating cashflow until 2008-2009. Since then, it's become a part of cashflow from financing activities. As a result, operating cashflow has turned positive and cashflow from financing has gone down between 2009 and 2010 (refer to the annual report for 2010 cashflow statement).

Apart from that, there's been a lot of investment in bonds and stocks in 2009-2010 impacting cashflows.
 
#6
While looking at Shriram Transport's financial statements , I see that they have been reporting -ve operating cash flows in successive years ( possibly from large interest payments ??? ) :

Shriram Transport Finance Corporation Cash Flow, Shriram Transport Finance Corporation Financial Statement & Accounts

Why does this not reflect in the income statement, the income statement keeps showing increasing profit ?

Shriram Transport Finance Corporation Profit & Loss account, Shriram Transport Finance Corporation Financial Statement & Accounts
The main business of lending compaines is to give out money on loans (their operations). Therefore it is seems logical that net cash from operations is negative.
 

alto

New member
#7
How to apply for these company fixed deposits? Is securities companies are only option (e.g. ICICI direct, HDFC securities), or there is any other option?
 

Alchemist

Administrator
Staff member
#8
How to apply for these company fixed deposits? Is securities companies are only option (e.g. ICICI direct, HDFC securities), or there is any other option?
You can apply via their local branches. Shriram Transport Finance has branches in all major cities and towns.
 
#11
I had applied for a FD of Shriram Transport and it matures next month.

Can someone guide me on how to get the Deposit money back? I had received instructions from them but I misplaced them :shot:

I vaguely remember that a revenue stamp had to be affixed and signed FD certificate had to be returned.

- What value of revenue stamp is required?
- Where and to whom to send the FD cert?
- What needs to be written on back of the cert?

If anyone has done this before, please guide.
 

Alchemist

Administrator
Staff member
#12
I had applied for a FD of Shriram Transport and it matures next month.

Can someone guide me on how to get the Deposit money back? I had received instructions from them but I misplaced them :shot:

I vaguely remember that a revenue stamp had to be affixed and signed FD certificate had to be returned.

- What value of revenue stamp is required?
- Where and to whom to send the FD cert?
- What needs to be written on back of the cert?

If anyone has done this before, please guide.
Try writing to the company (email).

You should get a reply within 3-4 working days.
 
#15
I had applied for a FD of Shriram Transport and it matures next month.

Can someone guide me on how to get the Deposit money back? I had received instructions from them but I misplaced them :shot:

I vaguely remember that a revenue stamp had to be affixed and signed FD certificate had to be returned.

- What value of revenue stamp is required?
- Where and to whom to send the FD cert?
- What needs to be written on back of the cert?

If anyone has done this before, please guide.

A 1 rupee revenue stamp is enough. Stick the same on the back of the certificate and sign across the stamp.

Submit the signed doc at the nearest Shriram office ( best approach) or mail it to their registered address given on certi/envelope. Take a xerox copy for your record before doing so. They would directly credit your bank account with the proceeds.
 
#16
How safe are Shriram Transport FDs? I have one of 50,000 Rs which is maturing in a couple of years.

Should I redeem it after paying penalty or does it look safe? Any idea about their Solvency, Liquidity, Asset Liability mismatch etc?
 

Alchemist

Administrator
Staff member
#17
How safe are Shriram Transport FDs? I have one of 50,000 Rs which is maturing in a couple of years.

Should I redeem it after paying penalty or does it look safe? Any idea about their Solvency, Liquidity, Asset Liability mismatch etc?
STFC's bonds are trading near their face value. As of now, there is nothing to suggest that STFC is facing any kind of financial problems.

However, I won't suggest any fresh investment in this company. I would prefer bank deposits or NBFC with very strong parent companies (e.g. M&M Financial).
 
#18
How much does this company pays with it safe deposits ? Something good or not really ? Please do explain. Why people are not discussing amounts here and fixed rates ? Is it prohibited or something like that ? Do let me know for sure.
 
Top