Shriram Transport Finance Company

What Shriram Transport Finance Company does

Shriram Transport Finance Company Ltd., operating commercially as 'Shriram Finance' and listed on NSE under SRTRANSFIN, is an Indian non-banking financial company founded in 1979 as part of the Shriram Group (established 1974) and headquartered in Mumbai. The company historically specialized in financing pre-owned commercial vehicles and has since expanded into a diversified retail financial services franchise spanning two-wheeler loans, used-car loans, personal loans, business loans, gold loans, fuel finance, fixed deposits, fixed investment plans, general and life insurance distribution, BBPS bill payments, and UPI transactions. Its primary customer segments are commercial-vehicle operators (truck and fleet owners, including first-generation entrepreneurs without formal credit histories), underserved MSMEs, retail consumers in rural and semi-urban India, and buyers of electric and alternative-fuel vehicles.

The company's distribution platform is anchored by a 3,225-branch physical network across India combined with the Shriram One super-app, which consolidates loan origination, deposit booking, insurance distribution, BBPS bill aggregation, and UPI payments on a single mobile application supported by Google Play and Apple App Store distribution. Supporting technology includes the auto.shriramfinance.in two-wheeler marketplace with EV hub and comparison tools, a suite of financial calculators, and CKYC-compliant onboarding. The core lending technology is a documented relationship-based, decentralized underwriting model in which branch managers originate and service loans using customer knowledge rather than rigid credit scoring.

STFC generates revenue primarily through interest income on its lending book (two-wheeler loans from 10% p.a., deposits up to 7.80% p.a.), insurance distribution commissions (general and life products under the Shriram Life brand), and transaction fees from BBPS aggregation and UPI payments. The company is employee-owned via the Shriram Ownership Trust following founder R. Thyagarajan's 2006 transfer of his 33% stake, reports group-level headcount of 64,000, and has raised substantial institutional capital between 2021 and 2025 — including a Rs 2,000 crore QIP, Rs 900 crore private placement bond, a $475M bond, a $250M DFC facility, a $100M ADB loan, and a $500M syndicated loan — supporting reported assets under management of ₹3.02 Lakh Crore as of March 31, 2026.

Name

Shriram Transport Finance Company

Legal name

Shriram Transport Finance Company Ltd.

Website

https://stfc.in

Company type

Public

Founded year

1979

Operating status

Operating

Headcount range

5,001–10,000 employees

Short description

Shriram Transport Finance Company (Shriram Finance) is an Indian listed NBFC providing commercial-vehicle, MSME, and retail loans alongside fixed deposits, insurance, BBPS bill payments, and UPI via a 3,225-branch network and the Shriram One super-app, primarily serving rural and semi-urban Indian customers.

Ownership category

akta.pro rank

Product category

Commercial Vehicle Financing

NAICS

Depository Credit Intermediation (5221), Savings Institutions and Other Depository Credit Intermediation (52218)

SIC

Loan Brokers (6163), Finance Lessors (6172)

akta.pro primary industry

Commercial Trucking & Heavy Equipment Vehicle Finance (FSAKADAI)

akta.pro secondary industries

Commercial Mortgage Servicing & Asset Management (Master/Special) (FSALADAJ), SME Equipment & Asset Finance (Leasing, Fleet, Capex) (FSABABAH)

Keywords

• Commercial vehicle financing
• Non-banking financial services
• Retail lending products
• Fixed deposit services
• Two-wheeler loans

Headquarters

HQ city

Mumbai

HQ country

India

HQ region

Asia

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure, Others

Revenue model

1. Vehicle & Commercial Vehicle Loan Interest Income: Core lending revenue from two-wheeler, used car, fuel finance, and the legacy commercial-vehicle / MSME loan book; interest is charged on outstanding principal with tenures and rates tailored to asset class (e.g., two-wheeler loans start at 10% p.a.).
2. Personal, Business & Gold Loan Interest Income: Interest income from unsecured personal loans, secured business loans, and gold-backed lending; revenue generated on a recurring basis across the loan lifecycle.
3. Fixed Deposit & Fixed Investment Plan Spread: Spread earned on customer deposits (Fixed Deposit up to 7.80% p.a., Fixed Investment Plan 7.30% p.a.) that are redeployed into the company's lending book.
4. Insurance Distribution Commissions: Commission revenue from distributing general insurance (four-wheeler, two-wheeler, goods vehicle, critical care) and life insurance products (Shriram Life Assured Income, Early Cash, Premier Assured Benefit, New Shri Vidya plans).
5. BBPS Bill Payment & UPI Transaction Revenue: Fee-based revenue from Bharat Bill Payment System aggregations (mobile prepaid/postpaid, DTH, FASTag, electricity, LPG, gas, broadband, water, cable TV, credit card, loan EMI, insurance premium) and UPI payment processing.

Pricing tiers

Go-to-market motion3 records

Distribution channels4 records

Marketing channels5 records

Core offering

Shriram Transport Finance Company (operating commercially as Shriram Finance) is an Indian non-banking financial company (NBFC) that provides retail lending, deposit, insurance distribution, and bill-payment services. Its core offerings span commercial vehicle financing, two-wheeler loans, used-car loans, personal loans, business loans, gold loans, fuel finance, fixed deposits, fixed investment plans, general and life insurance, BBPS bill payments, and UPI transactions, delivered through a 3,225-branch physical network and the Shriram One super-app.

Product overview

Shriram Transport Finance Company (STFC), now branded as Shriram Finance, operates a single unified financial services platform centered on the Shriram One super app, which aggregates the company's loans (Two-Wheeler, Personal, Used Car, Business, Gold, Fuel Finance, and core Commercial Vehicle Financing), investments (Shriram Unnati Fixed Deposit, Fixed Investment Plan), insurance (General Insurance products such as Four-Wheeler/Two-Wheeler/Goods Vehicle/Critical Care, and Life Insurance plans including Shriram Life Assured Income Plan, Early Cash Plan, Premier Assured Benefit Plan, and New Shri Vidya Plan), BBPS bill payments, and UPI transactions. Supporting modules include a suite of Investment & Loan Calculators and a Two Wheeler Marketplace sub-portal at auto.shriramfinance.in; together these modules form a platform-plus-modules architecture aimed at financially empowering underserved segments across India's rural and semi-urban regions.

Differentiator

Problem solved

Functional benefit

Brands

• Shriram One: Shriram's super app for loans, high-yield deposits, insurance, bill payments, and UPI transactions.
• Shriram Unnati Fixed Deposit
• Shriram Life

Products and services

• Shriram Unnati Fixed Deposit
• Fixed Investment Plan
• Two-Wheeler Loan
• Personal Loan
• Used Car Loan
• Business Loan
• Gold Loan
• Fuel Finance
• Commercial Vehicle Financing
• General Insurance (Four-Wheeler, Two-Wheeler, Goods Vehicle, Critical Care)
• Shriram Life Assured Income Plan
• Shriram Life Early Cash Plan
• Shriram Life Premier Assured Benefit Plan
• Shriram Life New Shri Vidya Plan
• BBPS Bill Payments
• Shriram One Super App
• Two-Wheeler Marketplace

Quantifiable outcome

• ₹3.02 Lakh Cr Assets Under Management (as of March 31, 2026)
• +4 more outcomes

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration4 records

Feature4 records

Scale indicators9 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Bajaj Finance: India's largest retail-focused NBFC offering two-wheeler loans, consumer durable loans, personal loans, business loans, and fixed deposits through both physical and digital channels. Directly comparable as a pan-India retail lending franchise with overlapping product set and similar customer segments.
• Cholamandalam Investment and Finance Company: Leading Indian NBFC specializing in vehicle finance (commercial vehicles, cars, two-wheelers), home loans, and SME lending. Highly comparable to STFC's core commercial vehicle and used vehicle financing franchise, with similar customer profile of fleet owners and MSMEs.
• Mahindra & Mahindra Financial Services: NBFC arm of the Mahindra Group focused on vehicle financing, tractor loans, SME loans, and rural financing. Comparable for vehicle finance focus and rural/semi-urban customer base; explicitly named alongside STFC as a key player in India's EV financing market.
• Shriram City Union Finance: Shriram Group entity focused on small business loans, two-wheeler finance, and consumer lending to underserved segments. Directly comparable as a sister company within Shriram Group undergoing merger with STFC, with overlapping rural/semi-urban customer base and small-ticket lending products.
• Muthoot Finance: India's largest gold loan NBFC with a vast branch network serving semi-urban and rural customers. Comparable for the gold loan product overlap and the deep physical distribution model serving similar underserved customer segments.
• Manappuram Finance: Indian NBFC offering gold loans, microfinance, vehicle finance, and housing finance through a large branch network. Comparable as a gold-loan-focused NBFC targeting similar rural and semi-urban customer segments with overlapping product offerings.
• L&T Finance Holdings: Indian NBFC offering vehicle finance, farm equipment finance, SME loans, and rural financing. Comparable as a diversified NBFC with significant focus on vehicle and rural lending serving similar underserved customer segments in tier 2/3 markets.

Others

• Tata Capital:

Broad incumbents

• HDFC Bank: India's largest private sector bank offering vehicle loans, personal loans, business loans, fixed deposits, and insurance distribution. Comparable as a broader incumbent increasingly expanding into semi-urban and rural segments where STFC has historically dominated.
• ICICI Bank: Major Indian private bank offering comprehensive retail lending, deposits, and digital banking. Explicitly named alongside STFC as a key player in India's EV financing market; competes across multiple of STFC's product lines including vehicle finance and personal loans.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks5 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/STFCconnect
• LinkedInlinkedin.com/company/stfcconnect

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

Subsidiaries1 record

Funding overview

Funding rounds10 records

Investors10 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Shriram Transport Finance Company