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«MANAGEMENT: MR. UMESH REVANKAR – MANAGING DIRECTOR & CHIEF EXECUTIVE OFFICER, SHRIRAM TRANSPORT FINANCE LIMITED MR. S. SUNDER – EXECUTIVE ...»

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Mohit Pande: Okay. And in terms of the geography that we are present that would largely be in line with your branch split or have a particular geography that we are present in?

Umesh Revankar: No, tractors are there in all the rural geography and we are there across India. Only these states where rain deficiency is there, there the impact is a little more that is all.

Mohit Pande: Okay. And do you finance refinance only Tractors of a particularly manufacturers or is there any such policy?

Umesh Revankar: We are financing only the four major tractor manufacturers not beyond that because there was a lot of small manufacture which we are not doing. We look at the resale values and where the resale values are reasonably good for a long-term then only we finance those vehicles.

Mohit Pande: Okay. And how were the resale values today be as compared to say last year?

–  –  –

Mohit Pande: Okay. And last question was on the yields. What kind of yields do we get on Used Tractors?

Umesh Revankar: Yields, it depends upon the vintage and the ticket size. It can vary between 20%-23%.

Moderator: Thank you. Next question is from the line of Ameya Sathe from Tata Mutual Fund. Please go ahead.

–  –  –

Moderator: Thank you. Next question is from the line of Amit Premchandani from UTI Mutual Fund. Please go ahead.

Amit Premchandani: Can you give us a sense of the number of contracts which are running due? And how has the trend paid out in this over the last say four quarters?

Umesh Revankar: We do not understand the question. Number of contract you mean?

Amit Premchandani: The AUM is divided among number of customers or number of contracts, right.

Umesh Revankar: Okay. Those numbers we do not have right now. You can contact Sanjay, he will be able to give.

Amit Premchandani: And sir on another context, can you give us the collection efficiency then? What is the collection efficiency? Has it moved from 90% to 95% or is it still at 92% level?

Umesh Revankar: Collection percentage…

–  –  –

Amit Premchandani: So there is no change in that trend over the last two quarters - three quarters?

S. Mundra: I think probably last two quarters there has been marginal change otherwise almost flattish.

–  –  –

Akshat Vyas: Sorry, sir, I just joined the call late so, sorry if I am repeating the question. Just wanted to know second-half how do you see compare to the first-half the broad outlook in terms of the industry and all?

Umesh Revankar: See normally second-half is 55 and first-half is 45, that is how we normally calculate because second-half because of festive period and the summer crop coming then a lot of activity being there. Normally the second-half is robust.

So our expectation is that second-half will be much better than the first-half mainly because two things one is the government’s infrastructure activity which they have been announcing for last one or two months are likely to start off in this quarter and second is we also expect the CAPEX cycle to start because the interest rates have come down. There will be some impetus or some push for the private sector to get in manufacturing or business activity.

Moderator: Thank you. As there are no further questions from the participants, I would now like to hand over the floor back to Mr. Umesh Revankar for closing comments. Over to you, sir.

Umesh Revankar: Thank you everyone. We are quite confident that the second-half of the year would be much better because of a lot of government initiative in the infrastructure and we also expect the rural stress will get reduced with better crop winter crop and I wish to see you in the next call with much better results. Thank you very much.

Moderator: Thank you very much, sir. Ladies and gentlemen with this we conclude today’s conference call. Thank you for joining us. You may now disconnect your lines.

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