Cholamandalam Investment and Finance Company Ltd.
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ABOUT
KEY POINTS
Revenue Breakup Mar 2026 • Vehicle finance: 52.7% • Loan Against Property: 19.3% • Others: 14.7%
AI Sector View
AI GENERATEDFinancial Services
Financials remain one of the clearest macro beneficiaries. Loan growth was 18.3% (Aug/26) versus deposit growth 14.7% (Aug/26), SCB credit growth was 17.5% YoY (2026-07), UPI transactions rose 22.0% YoY (2026-07), and M3 money supply grew 15.0% YoY (2026-07). Sector flows have also turned meaningfully supportive, with INR 13171 crore net FPI inflow over 3 months to 2026-08-31 after INR -114652 crore in the prior 3 months.
PROS
- Company has delivered good profit growth of 28.1% CAGR over last 5 years
- Comfortable capital adequacy - CAR of 19.2%
- Solid return on assets for a lender - ROA of 2.3%
- Latest quarter profit grew 45.6% YoY, showing strong momentum
- Company has delivered good sales growth of 26.6% CAGR over last 5 years
CONS
- Net NPA is elevated at 2.9% - provisioning cushion is thin
- Asset quality is weak - gross NPA at 4.4%
- Company has a low return on capital employed of 10.1%
- Free cash flow has been persistently negative
- Operating margins have contracted to 68.3% from 74.2%
- Thin net interest margin of 0.0%
* The pros and cons are machine generated based on quantitative rules.
Peer comparison
| Name | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| BAJFINANCE | 1040.00 | 31.89 | 647499.25 | 0.58 | 6080.60 | 27.60 | 23165.45 | 20.37 | 10.87 | 70.70 |
| SHRIRAMFIN | 1029.35 | 21.40 | 242204.36 | 1.05 | 3452.77 | 59.90 | 13400.43 | 17.46 | 11.49 | 74.63 |
| CHOLAFIN | 1829.00 | 27.16 | 156208.67 | 0.11 | 1656.22 | 45.56 | 8856.29 | 21.89 | 9.70 | 70.07 |
| TATACAP | 362.95 | 28.51 | 154067.52 | 0.16 | 16281.80 | 1464.16 | 88219.30 | 1051.00 | 8.66 | 75.72 |
| JIOFIN | 231.00 | 73.81 | 152532.57 | 0.26 | 830.25 | 155.73 | 2004.47 | 227.28 | 2.11 | 69.71 |
| BAJAJHLDNG | 11093.25 | 13.94 | 123460.67 | 1.76 | 2708.08 | -92.27 | 394.33 | 23.34 | 14.81 | 684.72 |
| MUTHOOTFIN | 2820.00 | 9.95 | 113214.11 | 1.06 | 2824.84 | 43.08 | 8671.60 | 36.25 | 15.87 | 83.76 |
| ABCAPITAL | 398.80 | 26.60 | 109173.43 | 0.00 | 1223.85 | 43.85 | 12179.54 | 137.84 | 8.82 | 41.91 |
| LTF | 310.20 | 24.43 | 77747.06 | 0.89 | 915.99 | 30.70 | 5212.92 | 22.38 | 8.54 | 62.13 |
| SBICARD | 670.00 | 28.02 | 63760.09 | 0.37 | 664.44 | 19.51 | 5040.55 | 7.60 | 11.75 | 29.83 |
| HDBFS | 674.90 | 25.77 | 56068.33 | 0.59 | 785.20 | 38.31 | 4937.90 | 18.71 | 9.09 | 57.98 |
| SUNDARMFIN | 4724.30 | 23.65 | 52488.80 | 0.85 | 636.19 | 33.88 | 2644.13 | 23.37 | 9.35 | 80.61 |
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
| Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 4,052 | 4,425 | 4,956 | 5,388 | 5,784 | 6,225 | 6,709 | 7,024 | 7,244 | 7,468 | 7,874 | 8,391 | 8,833 | |
| 1,121 | 1,308 | 1,378 | 1,401 | 1,706 | 1,877 | 2,019 | 1,989 | 2,268 | 2,444 | 2,536 | 2,581 | 6,712 | |
| Operating Profit | 2,942 | 3,127 | 3,582 | 3,987 | 4,078 | 4,349 | 4,691 | 5,036 | 4,977 | 5,026 | 5,339 | 5,812 | 6,198 |
| OPM % | 72.59% | 70.67% | 72.28% | 74.00% | 70.50% | 69.88% | 69.92% | 71.70% | 68.70% | 67.30% | 67.80% | 69.26% | 70.17% |
| Other Income | 71 | 137 | 59 | 104 | 44 | 66 | 103 | 96 | 86 | 121 | 110 | 146 | 100 |
| Interest | 2,007 | 2,205 | 2,439 | 2,579 | 2,796 | 3,055 | 3,272 | 3,362 | 3,466 | 3,516 | 3,643 | 3,749 | 4,003 |
| Depreciation | 38 | 38 | 45 | 75 | 58 | 62 | 58 | 63 | 67 | 70 | 73 | 71 | 74 |
| 968 | 1,021 | 1,157 | 1,437 | 1,268 | 1,299 | 1,464 | 1,706 | 1,530 | 1,561 | 1,733 | 2,137 | 2,220 | |
| Tax % | 24.96% | 25.30% | 24.27% | 26.36% | 25.72% | 25.84% | 25.76% | 25.76% | 25.74% | 25.98% | 25.69% | 23.24% | 25.53% |
| Net Profit | 726 | 762 | 876 | 1,058 | 942 | 963 | 1,087 | 1,267 | 1,136 | 1,155 | 1,288 | 1,641 | 1,654 |
| 9 | 9 | 10 | 13 | 11 | 11 | 13 | 15 | 14 | 14 | 15 | 19 | 2 |
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 4,660 | 5,479 | 6,992 | 8,653 | 9,516 | 10,048 | 12,757 | 18,845 | 25,746 | 30,982 | 32,566 | |
| 1,521 | 1,376 | 1,528 | 2,370 | 2,865 | 2,853 | 3,512 | 5,210 | 7,597 | 9,833 | 14,273 | |
| Operating Profit | 3,138 | 4,103 | 5,464 | 6,283 | 6,651 | 7,195 | 9,245 | 13,635 | 18,148 | 21,149 | 18,293 |
| OPM % | 67.36% | 74.88% | 78.15% | 72.61% | 69.90% | 71.60% | 72.47% | 72.35% | 70.49% | 68.26% | 56.17% |
| 236 | 7 | 3 | 3 | 61 | 92 | 223 | 373 | 316 | 467 | 477 | |
| Interest | 2,231 | 2,659 | 3,589 | 4,592 | 4,576 | 4,299 | 5,749 | 9,231 | 12,485 | 14,374 | 14,911 |
| Depreciation | 38 | 50 | 55 | 108 | 98 | 97 | 119 | 196 | 242 | 281 | 289 |
| Profit before Tax | 1,106 | 1,401 | 1,823 | 1,586 | 2,038 | 2,891 | 3,600 | 4,582 | 5,737 | 6,961 | 7,652 |
| Tax % | 34.99% | 34.47% | 34.94% | 33.63% | 25.68% | 25.74% | 25.93% | 25.30% | 25.77% | 25.01% | 25.02% |
| Net Profit | 719 | 918 | 1,186 | 1,052 | 1,515 | 2,147 | 2,666 | 3,423 | 4,259 | 5,220 | 5,737 |
| EPS | 45.99 | 58.70 | 15.16 | 13.35 | 18.45 | 26.11 | 32.40 | 40.75 | 50.64 | 61.26 | — |
| Dividend Payout % | 11.96% | 11.07% | 8.57% | 13.24% | 10.83% | 7.65% | 6.17% | 4.91% | 3.95% | 3.26% | — |
COMPOUNDED SALES GROWTH
- 10 Years:
- 22%
- 5 Years:
- 27%
- 3 Years:
- 34%
COMPOUNDED PROFIT GROWTH
- 10 Years:
- 25%
- 5 Years:
- 28%
- 3 Years:
- 25%
STOCK PRICE CAGR
- 10 Years:
- 24%
- 5 Years:
- 27%
- 3 Years:
- 16%
- 1 Year:
- 22%
RETURN ON EQUITY
- 10 Years:
- 19%
- 5 Years:
- 20%
- 3 Years:
- 20%
- Last Year:
- 20%
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 156 | 156 | 156 | 164 | 164 | 164 | 164 | 168 | 168 | 170 |
| 4,128 | 4,931 | 6,001 | 7,978 | 9,362 | 11,488 | 14,048 | 19,248 | 23,244 | 29,918 | |
| 24,230 | 38,337 | 50,575 | 55,015 | 63,739 | 69,180 | 97,361 | 1,34,987 | 1,75,699 | 2,11,503 | |
| Trade Payables | 275 | 171 | 207 | 203 | 53 | 83 | 123 | 115 | 149 | 117 |
| 1,490 | 133 | 34 | 122 | 468 | 776 | 1,211 | 1,278 | 1,440 | 2,204 | |
| Total Liabilities | 30,280 | 43,728 | 56,973 | 63,482 | 73,785 | 81,692 | 1,12,907 | 1,55,797 | 2,00,701 | 2,43,912 |
| 140 | 161 | 163 | 273 | 219 | 254 | 399 | 1,557 | 1,772 | 1,863 | |
| Capital Work in Progress | 0 | 0 | 0 | 0 | 0 | 23 | 36 | 0 | 4 | 18 |
| 239 | 73 | 73 | 73 | 1,619 | 2,076 | 3,620 | 4,100 | 6,390 | 6,638 | |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 199 | 188 | 290 | |
| Cash & Bank | 471 | 888 | 3,675 | 6,959 | 5,232 | 4,220 | 2,961 | 2,180 | 7,026 | 11,672 |
| 29,430 | 42,606 | 53,063 | 56,176 | 66,714 | 75,118 | 1,05,891 | 1,47,760 | 1,85,322 | 2,23,431 | |
| Total Assets | 30,280 | 43,728 | 56,973 | 63,482 | 73,785 | 81,692 | 1,12,907 | 1,55,797 | 2,00,701 | 2,43,912 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| -1,077 | -4,812 | -4,988 | 2,986 | -3,962 | -906 | -21,140 | -27,473 | -21,068 | -16,493 | |
| Cash from Investing | -202 | -63 | -4 | -51 | -1,759 | 1,667 | -2,160 | -2,705 | -2,867 | -2,543 |
| Cash from Financing | 1,701 | 7,965 | 12,220 | 2,461 | 8,708 | 5,151 | 27,449 | 38,405 | 39,707 | 35,497 |
| 8 | -20 | 2,885 | 323 | -1,908 | 1,210 | -1,748 | -68 | 4,436 | 3,034 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
Documents
Corporate disclosures, annual reports, credit ratings, and concall transcripts
2026-09-01 - Cholamandalam Investment and Finance Company Limited has informed the Exchange regarding allotment of 2000 securities pursuant to Non Convertible Securities at its meeting held on September 01, 2026
2026-08-26 - Cholamandalam Investment and Finance Company Limited has informed the Exchange regarding the 'NOC received under Reg.31A(8) of SEBI Listing Regulations from stock exchanges.
2026-08-21 - Cholamandalam Investment and Finance Company Limited has informed the Exchange regarding allotment of 35000 securities pursuant to Non Convertible Securities at its meeting held on August 21, 2026
2026-08-21 - Members of the Exchange are hereby informed that the trading in Non-Convertible Debentures of Cholamandalam Investment and Finance Company Limited shall be suspended w.e.f. August 25, 2026 (ISIN No. INE121A07RF6 & INE121A07RD1) on account of Maturity.
2026-08-13 - Cholamandalam Investment and Finance Company Limited has informed the Exchange regarding allotment of 43050 securities pursuant to ESOP/ESPS on August 12, 2026
2026-08-04 - Cholamandalam Investment and Finance Company Limited has informed the Exchange about Transcript
2026-07-29 - Cholamandalam Investment and Finance Company Limited has submitted the Exchange a copy Srutinizers report of Annual General Meeting held on July 28, 2026. Further, the company has informed the Exchange regarding voting results.
2026-07-28 - Cholamandalam Investment and Finance Company Limited has informed the Exchange about Link of Recording
2026-07-28 - Cholamandalam Investment and Finance Company Limited has informed the Exchange regarding Proceedings of Annual General Meeting held on July 28, 2026
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