Cholamandalam Investment & Finance Company Ltd logo

Cholamandalam Investment & Finance Company Ltd

CHOLAFIN NSE

Key Fundamentals

LargecapNBFCFinancial Services
Market Cap
1.6L Cr
Volatility
Moderate
P/E Ratio
27.24
EBITDA
₹21,641 Cr
Return on Equity
17.17%
Debt to Equity
7.13
Book Value
₹358.78
EPS
₹43.53
52W High
₹1,952.5
52W Low
₹1,299.4

Insights

Beta

AI-extracted from concalls & annual reports · figures as reported, with sources

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42 extracted metrics + investor summaries across FY12–FY26.

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Tapetide Score

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Technical Indicators

Key Insights

Strengths

2
  • Company has delivered good profit growth of 28.0% CAGR over last 5 years
  • Company's median sales growth is 21.4% of last 10 years

Weaknesses

3
  • Stock is trading at 5.21 times its book value
  • Company has low interest coverage ratio.
  • Company might be capitalizing the interest cost

Growth Rate

Revenue Growth
20.59% ↗
Net Income Growth
22.74% ↗
Cash Flow Change
7.38% ↗
ROE
-4.61% ↘
ROCE
-1.56% ↘
EBITDA Margin (Avg.)
-2.90% ↘

AI Analysis — Bull vs Bear

Anthropic anthropic claude-opus-4.6 4d ago
AI opinion · based on fundamentals
Risk medium

Cholamandalam Investment & Finance Company is a large-cap NBFC (market cap ~₹1.6 lakh crore) with a consistent growth track record — 28% profit CAGR over 5 years, 20% ROE sustained over a decade, and AUM of ~₹2.4 lakh crore in FY26 (up 21% YoY). However, it trades at a premium valuation of 5.2x book and 27.7x earnings, and asset quality has shown some pressure with GNPA at 4.36% as of Q4 FY26.

Bull Case 8
  • Strong profit compounding at 28% CAGR over the last 5 years and 25% CAGR over 10 years, demonstrating sustained earnings momentum
  • AUM grew 21% YoY to ~₹2.42 lakh crore in FY26 with management guiding to double AUM over the next 5 years
  • Consistent ROE of ~19-20% maintained over 3, 5, and 10-year periods, indicating efficient capital deployment for a lending business
  • Diversified growth engines — SME book grew 41% YoY and secured business/personal loans grew 46% YoY in Q4 FY26, reducing dependence on vehicle finance alone
  • Revenue from operations grew to ₹30,982 crore in FY26 from ₹25,746 crore in FY25, a 20% increase; 10-year sales CAGR of 22% shows long runway
  • Q4 FY26 standalone PAT jumped 31% YoY to ₹1,645 crore, with sequential improvement in asset quality (GNPA declined from 4.63% to 4.36% QoQ)
  • Part of the Murugappa Group conglomerate, providing strong parentage, brand trust, and access to capital markets at competitive rates
  • Stock has delivered 24% CAGR returns over 10 years, consistently outperforming broader indices
Bear Case 8
  • Trades at 5.24x price-to-book, a significant premium to most NBFC peers, leaving limited margin of safety if growth disappoints
  • GNPA at 4.36% and NNPA at 2.87% in Q4 FY26 remain elevated; Q1 FY27 showed further slippage with NNPA rising to 2.95%
  • Low interest coverage ratio flagged as a structural concern — typical for NBFCs but magnifies risk in a rising cost-of-funds environment
  • Potential capitalisation of interest costs may overstate reported profitability and asset quality, requiring careful scrutiny of accounting treatment
  • Dividend yield of just 0.11% offers negligible income return, meaning investors rely entirely on capital appreciation
  • PE of 27.7x is demanding for a financial services company and prices in sustained high growth execution with little room for error
  • Newer segments (SME, personal loans) growing at 41-46% are unseasoned — credit costs from these books will only be visible over the next 2-3 years
  • TTM revenue growth has moderated to 20% from 34% 3-year CAGR, suggesting a natural deceleration as the AUM base scales larger

This is AI-generated analysis, not financial advice. Do your own due diligence.

AI News Digest

Anthropic anthropic claude-opus-4.6 5h ago
Positives 3
  • PAT up 46%, AUM ₹2.54L cr Jul 28

    Q1FY27 net profit surged 46% YoY to ₹1,654 crore with AUM growing 23% to ₹2.54 lakh crore. Net income rose 28% and company approved ₹55,000 crore NCD issuance for growth funding.

  • PBT up 45%, NIM at 8.2% Jul 28

    PBT grew 45% to ₹2,220 crore in Q1FY27 with disbursements rising 22% to ₹29,612 crore. NIM expanded to 8.2%, indicating improved lending margins.

  • Final dividend of ₹0.70/share Jul 28

    Declared ₹0.70 per share final dividend at the 48th AGM held on July 28, 2026.

Neutral 2
  • ₹350 cr NCD at 8.64% Aug 21

    Allotted ₹350 crore secured NCDs with 8.64% coupon rate and nearly three-year tenure for balance sheet funding.

  • Q4FY26 earnings call uploaded Jul 28

    Audio recording of Q1FY27 earnings call (quarter ended June 30, 2026) uploaded to website per SEBI regulations.

TL;DR: Cholamandalam delivered a standout Q1FY27 with 46% PAT growth, strong disbursement momentum, and expanding NIMs at 8.2%. AUM crossed ₹2.54 lakh crore reflecting robust loan book growth across segments. No visible headwinds in recent news flow. The growth trajectory and margin expansion suggest continued strength if asset quality holds steady.

Quarterly Results

  Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Revenue
4,100
4,623
5,007
5,410
5,812
6,255
6,733
7,046
7,267
7,491
7,898
8,417
8,856
Expenses
1,174
1,391
1,412
1,417
1,727
1,897
2,038
2,010
2,286
2,460
2,554
2,597
2,652
Financing Profit
920
1,028
1,155
1,414
1,289
1,300
1,420
1,671
1,512
1,514
1,698
2,067
2,197
Fin. Margin %
22%
22%
23%
26%
22%
21%
21%
24%
21%
20%
22%
25%
25%
Other Income
71
73
47
105
45
68
105
92
87
123
111
148
102
Interest
2,006
2,204
2,441
2,579
2,796
3,059
3,275
3,365
3,468
3,517
3,646
3,753
4,007
Depreciation
39
39
46
75
59
63
59
64
67
71
74
72
75
PBT
952
1,062
1,156
1,444
1,275
1,305
1,466
1,699
1,532
1,566
1,736
2,143
2,224
Tax %
25%
27%
25%
26%
26%
26%
26%
26%
26%
26%
26%
23%
26%
Net Profit
710
773
872
1,065
947
968
1,088
1,260
1,138
1,160
1,290
1,645
1,656
EPS in Rs
8.64
9.4
10.39
12.68
11.27
11.52
12.94
14.98
13.53
13.78
15.28
19.31
19.43
Figures in ₹ Crores

Profit & Loss

  Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Revenue
3,715
4,214
4,694
5,559
7,108
8,712
9,583
10,148
12,884
19,163
25,890
31,120
32,663
Expenses
1,061
1,266
1,322
1,451
1,632
2,421
2,858
2,926
3,621
5,385
7,670
9,890
10,264
Financing Profit
696
899
1,143
1,451
1,888
1,699
2,150
2,924
3,515
4,548
5,726
6,845
7,476
Fin. Margin %
19%
21%
24%
26%
27%
20%
22%
29%
27%
24%
22%
22%
23%
Other Income
0
2
3
0
1
0
0
84
220
255
261
412
484
Interest
1,958
2,048
2,228
2,657
3,588
4,592
4,576
4,298
5,748
9,231
12,495
14,384
14,923
Depreciation
30
22
39
51
57
111
102
101
121
198
245
284
292
PBT
666
879
1,107
1,401
1,832
1,588
2,048
2,908
3,615
4,605
5,741
6,973
7,668
Tax %
33%
35%
35%
34%
35%
34%
26%
26%
26%
26%
26%
25%
—
Net Profit
444
575
718
918
1,197
1,054
1,521
2,154
2,665
3,420
4,263
5,233
5,751
EPS in Rs
6.18
7.36
9.21
11.76
15.32
12.86
18.55
26.23
32.42
40.72
50.69
61.41
67.8
Div. Payout %
11%
12%
12%
11%
8%
13%
11%
8%
6%
5%
4%
3%
—
Figures in ₹ Crores

Balance Sheet

  Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital
144
156
156
156
156
164
164
164
164
168
168
170
Reserves
2,531
3,514
4,142
4,969
6,052
8,036
9,436
11,605
14,182
19,425
23,500
30,288
Borrowing
19,950
22,546
24,071
38,330
50,567
55,005
63,730
69,174
97,358
1,34,475
1,75,036
2,11,070
Other Liabilities
1,243
1,673
2,230
711
715
853
1,314
1,536
1,923
2,618
3,182
3,920
Total Liabilities
23,868
27,889
30,598
44,167
57,490
64,058
74,644
82,478
1,13,627
1,56,686
2,01,887
2,45,448
Fixed Assets
69
120
150
170
167
283
228
259
403
1,563
1,780
1,869
CWIP
0
0
0
4
14
11
10
37
60
13
11
42
Investments
25
16
182
23
42
33
1,583
2,055
3,562
4,036
6,367
6,646
Other Assets
23,775
27,753
30,266
43,970
57,267
63,732
72,823
80,127
1,09,602
1,51,075
1,93,729
2,36,892
Total Assets
23,868
27,889
30,598
44,167
57,490
64,058
74,644
82,478
1,13,627
1,56,686
2,01,887
2,45,448
Figures in ₹ Crores

Cash Flow

  Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating
-2,264
-2,809
-1,468
-7,926
-9,317
-2,075
-8,842
-5,571
-27,105
-35,683
-32,413
-30,021
Investing
-40
-137
-222
-60
-11
-54
-1,572
1,640
-2,148
-2,855
-2,948
-2,554
Financing
1,819
3,031
1,692
8,009
12,191
2,452
8,516
5,150
27,466
38,471
39,795
35,610
Net Cash Flow
-485
85
2
22
2,862
323
-1,898
1,218
-1,787
-66
4,434
3,035
Free Cash Flow
-2,294
-2,885
-1,525
-7,994
-9,391
-2,145
-8,873
-5,665
-27,293
-36,754
-32,600
-30,263
CFO/OP
-75
-82
-29
-179
-157
-24
-121
-65
-283
-249
-169
-133
Figures in ₹ Crores

Ratios

  Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
ROE %
18%
18%
18%
20%
21%
15%
17%
20%
20%
20%
20%
19%

Shareholding Pattern

As of Jun 2026
Promoters 49.22%
FIIs 24.45%
DIIs 20.62%
Public 4.38%
Others 1.32%
Total 99.99%
  Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Promoters
51.62%
51.61%
51.57%
51.55%
51.55%
51.52%
51.50%
51.49%
51.47%
51.46%
51.43%
50.37%
50.35%
50.33%
50.24%
49.93%
49.92%
49.90%
49.88%
49.72%
49.25%
49.22%
FIIs
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.01%
0.01%
0.01%
0.01%
21.51%
24.73%
26.00%
26.62%
27.17%
27.43%
28.23%
27.96%
26.85%
26.55%
24.87%
24.45%
DIIs
20.28%
17.95%
18.30%
18.39%
19.54%
19.20%
20.64%
21.24%
21.47%
18.60%
20.04%
18.38%
17.04%
16.86%
16.58%
16.10%
15.49%
16.06%
17.27%
17.55%
19.91%
20.62%
Government
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
Public
5.87%
6.05%
6.24%
6.18%
6.17%
6.28%
6.14%
6.06%
5.87%
5.69%
5.43%
5.11%
5.18%
4.91%
4.76%
5.20%
4.93%
4.80%
4.54%
4.48%
4.59%
4.38%
Others
22.23%
24.40%
23.89%
23.88%
22.74%
23.00%
21.70%
21.20%
21.18%
24.25%
1.60%
1.41%
1.43%
1.28%
1.25%
1.35%
1.42%
1.27%
1.46%
1.69%
1.37%
1.32%
No. of Shareholders
86,296
1,03,134
1,07,443
1,14,309
1,20,069
1,25,525
1,30,833
1,30,154
1,21,184
1,40,546
1,46,815
1,40,636
1,55,055
1,43,097
1,46,889
1,76,231
1,78,471
1,83,933
1,65,068
1,70,050
1,60,428
1,51,219

Documents

Frequently Asked Questions about Cholamandalam Investment & Finance Company Ltd

What does Cholamandalam Investment & Finance Company Ltd do?
Cholamandalam Investment & Finance Company is one of the premier diversified non-banking finance companies in India, engaged in providing vehicle finance, home loans and Loan against property.[1]
Where is Cholamandalam Investment & Finance Company Ltd (CHOLAFIN) listed?
Cholamandalam Investment & Finance Company Ltd is listed on the Indian stock exchanges. It is listed on NSE: CHOLAFIN and BSE: 511243. You can view its live share price, financials, and ratios on Tapetide.
Which sector does Cholamandalam Investment & Finance Company Ltd belong to?
Cholamandalam Investment & Finance Company Ltd operates in the Financial Services sector within the NBFC industry. Sector classification helps investors compare companies affected by similar economic conditions and regulatory changes.
What is the market capitalisation of Cholamandalam Investment & Finance Company Ltd?
Cholamandalam Investment & Finance Company Ltd has a market capitalisation of approximately ₹157582.50 Cr. Based on this, it is classified as a Large Cap stock.
What is the PE ratio of Cholamandalam Investment & Finance Company Ltd?
The Price-to-Earnings (PE) ratio of Cholamandalam Investment & Finance Company Ltd is 27.24. The PE ratio compares a company's share price to its earnings per share and is commonly used to assess whether a stock is overvalued or undervalued relative to its peers.
What is the 52-week high and low of Cholamandalam Investment & Finance Company Ltd?
Over the past 52 weeks, Cholamandalam Investment & Finance Company Ltd has traded between a low of ₹1,299.4 and a high of ₹1,952.5. This range helps investors understand the stock's price volatility and recent trading levels.
Does Cholamandalam Investment & Finance Company Ltd pay dividends?
Yes, Cholamandalam Investment & Finance Company Ltd has a dividend yield of 0.11%. Dividend yield indicates the annual dividend income relative to the share price. A consistent dividend history can signal financial stability.
What is the Return on Equity (ROE) of Cholamandalam Investment & Finance Company Ltd?
Cholamandalam Investment & Finance Company Ltd has a Return on Equity (ROE) of 17.17%. ROE measures how effectively a company uses shareholders' equity to generate profits. A higher ROE generally indicates better capital efficiency.
How can I research Cholamandalam Investment & Finance Company Ltd on Tapetide?
On Tapetide, you can view Cholamandalam Investment & Finance Company Ltd's live share price, quarterly results, profit & loss statements, balance sheet, cash flow, key ratios, shareholding pattern, technical indicators, analyst ratings, and forecasts — all on a single page without needing to sign up.

Company Information

Cholamandalam Investment & Finance Company is one of the premier diversified non-banking finance companies in India, engaged in providing vehicle finance, home loans and Loan against property.[1]

Website cholamandalam.com
CEO Mr. Murugappan Vellayan Subbiah
Employees 45,194
Listed 1996-05-15
Face Value ₹ 2
Issued Size 84,39,52,471

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