Latest news with #YSChakravarti
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Business Standard
13 hours ago
- 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.
CNA
28-04-2025
- Business
- CNA
India's Shriram Finance mulling yen-denominated fundraise to diversify borrowing, CEO says
MUMBAI :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 300 billion rupees 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.
