STFC decided to finance the much neglected Small Truck Owner. Shriram understood the power of ‘Aspiration’ much before marketing based on ‘Aspiration’ became fashionable. Shriram started lending to the Small Truck Owner to buy new trucks. But the company found a mismatch between the Aspiration and Ability. The truck operator was honest but the equity at his command was not sufficient to support the credit levels required to buy a new truck. The company did not have the heart to send the truck operator back empty handed so it decided to fund pre-owned trucks. This was the most momentous decision made by STFC. What followed was sheer magic.
From Driver to Owner, even if only of a Pre owned Truck and from Pre owned Truck to the New Truck, we have been with him in his journey of Prosperity as he has been the partner in company’s road to success and leadership. At Shriram, credit worthiness of the Small Truck Owner has always been an article of faith. This faith has guided the journey from pioneering days in financing Small Truck Owners to the present day leadership. Today STFC is not only the leader in Truck Finance, it is also India’s largest Asset Based Non Banking Finance Company.
STFC believes in six principles which we have been laid down -1. Exclusive growth benefits individuals or organizations. Inclusive growth benefits the nation2. Create viability, Not liability3. Fund assets on Installments, take interest in relationships4. When the going gets tough, the brand gets going5. The wider your reach, the more you sell6. An organization is only as good as its people
The company now has almost 1,000 official branches across the subcontinent. It is also present in remote rural areas with offices of just one or two employees bringing its total network to 1,800 locations. All this allows it to effectively serve a client base that now surpasses 1.5 million people a testament to the remarkable success of its customer focus. As customers’ businesses have grown from one vehicle operations, STFC has grown along with them and maintained close relationships. During its first 28 years, the company focused on trucks and commercial vehicles. Since then it has moved into passenger cars, tractors and even construction equipment.
Operational efficiency, integrity and a strong focus on catering to the needs of the common man by offering him high quality and cost-effective products & services are the values driving STFC. These core values are deep-rooted within the organisation and have been strongly adhered to over the decades. STFC prides itself on a perfect understanding of the customer. Each product or service is tailor-made to perfectly suit customer needs. It is this guiding philosophy of putting people first that has brought the company closer to the grassroots and made it the preferred choice for all the truck financing requirements amongst customers.
STFC is part one of the largest Indian conglomerates – The Sriram Group
With a track record of about 37 years in this business, the company is among the leading organized finance providers for the commercial vehicle industry.
Total income and profit after tax in FY 2016 are Rs.10,245 crores and Rs. 1,178 crores respectively.