Cholamandalam Financial Holdings logo

Cholamandalam Financial Holdings

CHOLAHLDNG NSE

Key Fundamentals

SmallcapInvestment CompanyFinancial Services
Market Cap
₹26,176 Cr
P/E (TTM)
9.81
EBITDA
₹22,047 Cr
Return on Equity
16.17%
Debt to Equity
13.76
Book Value
₹822.62
EPS (TTM)
₹142.12
52W High
₹2,064.00
52W Low
₹1,305.00

Price-based figures as of 9 Oct 2026, 12:43 pm IST · EPS basis: Consolidated · TTM

Tapetide Score

Data-driven rating, 0–100. How it works →

Key Insights

Strengths

1
  • Company has delivered good profit growth of 24.3% CAGR over last 5 years

Weaknesses

1
  • Company has low interest coverage ratio.

Growth Rate

Revenue Growth
18.28% lower than 3Y
Net Income Growth
15.71% lower than 3Y
Cash Flow Change
12.19% lower than 3Y
EBITDA Margin (Avg.)
-2.86% lower than 3Y

AI Analysis — Bull vs Bear

Figures as of 1 Oct 2026
AI opinion · based on fundamentals
Risk medium

As of the 2026-10-01 close, Cholamandalam Financial Holdings traded at Rs 1,369.6, with a market cap of Rs 25,718 crore, a trailing P/E of 9.64x and a P/B of 1.66x. That price is about 33.6% below its 52-week high of Rs 2,064 and about 5% above its 52-week low of Rs 1,305. Profits have compounded at 24% over both 3 and 5 years, and TTM profit growth is 21%. Against that, the stock has fallen 26% over the past year, ROE has eased to 16.17% from a 3-year average of 19%, and the company has a low interest coverage ratio.

Bull Case 7
  • Profit has compounded at 24.3% CAGR over the last 5 years and 24% over 3 years. TTM profit growth is still 21%, so the earnings trend remains intact.
  • The trailing P/E of 9.64x on TTM EPS of Rs 142.12 is low compared with 21% TTM profit growth, which gives a PEG well below 1.
  • Sales have compounded at 29% over 3 years, 23% over 5 years and 17% over 10 years. That shows sustained balance-sheet and premium growth across its lending and insurance subsidiaries.
  • ROE has been steady at around 18% over both 5 and 10 years, and the current 16.17% is still in the mid-to-high teens. This suggests consistent capital efficiency over a full credit cycle.
  • A P/B of 1.66x is a modest premium to book for a business earning a 16.17% ROE. The price-to-book multiple is therefore low relative to the returns the business generates.
  • The stock is about 5% above its 52-week low of Rs 1,305 and about 33.6% below its 52-week high of Rs 2,064. Earnings have kept growing at 21% TTM while the price fell, so the drop has come from a lower multiple rather than lower profits.
  • Over 10 years the stock has compounded at 12% and profits at 15%. As a holding company it gives combined exposure to vehicle/MSME lending and general insurance in India.
Bear Case 8
  • The stock is down 26% over 1 year and has returned only 7% CAGR over 3 years, even though profits grew 24% CAGR over the same 3 years. The market has clearly de-rated the stock.
  • Interest coverage is low, and ROCE is just 9.5% against a 16.17% ROE. The gap shows the consolidated returns rely heavily on leverage in the lending subsidiary.
  • ROE has slipped from a 3-year average of 19% to 17% last year and 16.17% now. Profitability is trending down.
  • Sales growth has slowed from a 29% 3-year CAGR to 18% TTM. If loan-book or premium growth keeps decelerating, the 21% TTM profit growth could also come under pressure.
  • The dividend yield is only 0.09%, so shareholders receive almost no cash income. Returns depend almost entirely on price appreciation, which was -26% over the past year.
  • Holding-company structures often trade at a discount to the value of their underlying stakes. That can partly explain the 9.64x P/E and 1.66x P/B, and the discount may not narrow.
  • The stock trades about 33.6% below its 52-week high of Rs 2,064 and close to its Rs 1,305 low. This shows high volatility and weak momentum in the stock.
  • Debt-to-equity is not available in the data. That limits how well anyone can judge leverage, especially alongside the low interest coverage.

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

AI News Digest

25d ago
Neutral 1
  • 77th AGM held, dividend approved Aug 15

    Cholamandalam Financial Holdings held its 77th AGM on August 14, 2026. Shareholders approved FY26 financials, final dividend, and key management appointments.

TL;DR: Limited recent news flow for Cholamandalam Financial Holdings. The company conducted routine corporate governance via its 77th AGM with standard approvals on financials, dividend, and management appointments. No material headwinds or bullish catalysts surfaced in the latest coverage, leaving the near-term outlook largely dependent on broader financial services sector trends.

Quarterly Results

Particulars Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Revenue
5,626
6,317
6,795
7,066
7,633
8,090
8,489
8,913
9,296
9,461
9,949
10,366
11,114
Expenses
2,588
2,898
2,978
2,932
3,253
3,537
3,772
3,709
4,142
4,359
4,487
4,541
4,721
Financing Profit
1,025
1,210
1,371
1,552
1,584
1,496
1,438
1,843
1,687
1,585
1,814
2,070
2,385
Fin. Margin %
18%
19%
20%
22%
21%
18%
17%
21%
18%
17%
18%
20%
21%
Other Income
89
55
48
110
45
91
106
98
88
130
137
156
103
Interest
2,013
2,209
2,445
2,582
2,796
3,058
3,280
3,361
3,468
3,518
3,648
3,755
4,007
Depreciation
52
52
55
88
70
74
72
79
79
83
87
84
87
PBT
1,062
1,213
1,363
1,574
1,559
1,513
1,471
1,862
1,696
1,632
1,863
2,142
2,400
Tax %
25%
27%
25%
27%
26%
26%
26%
27%
26%
26%
26%
24%
25%
Net Profit
792
888
1,027
1,144
1,160
1,125
1,093
1,362
1,260
1,214
1,386
1,626
1,789
EPS in Rs
19.78
22.41
24.88
27.32
29.2
27.99
25.89
32.68
30.81
29.29
33.32
36.59
42.92
Figures in ₹ Crores

Profit & Loss

Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Revenue
9,696
8,004
2,688
8,909
10,926
13,135
13,900
14,644
18,154
25,830
33,196
39,156
40,890
Expenses
6,542
7,029
2,377
4,490
5,147
6,588
6,807
7,210
8,597
11,389
14,269
17,523
18,109
Financing Profit
1,051
-1
311
1,764
2,192
1,954
2,485
3,106
3,780
5,191
6,433
7,244
7,854
Fin. Margin %
11%
0%
12%
20%
20%
15%
18%
21%
21%
20%
19%
18%
19%
Other Income
123
1,538
1
0
21
1
60
92
221
256
262
414
525
Interest
2,103
976
0
2,655
3,587
4,592
4,608
4,328
5,778
9,249
12,494
14,388
14,928
Depreciation
171
163
17
70
78
150
145
154
176
248
296
333
341
PBT
1,003
1,374
295
1,695
2,135
1,806
2,400
3,044
3,824
5,200
6,400
7,326
8,037
Tax %
32%
27%
30%
34%
34%
36%
27%
26%
26%
26%
26%
25%
—
Net Profit
684
1,181
538
1,127
1,415
1,165
1,764
2,239
2,810
3,851
4,740
5,485
6,015
EPS in Rs
22.68
55.47
24.26
29.32
37.12
29.34
43.93
54.49
68.71
94.39
116
130
142
Div. Payout %
9%
9%
1%
4%
3%
2%
1%
1%
1%
1%
1%
1%
—
Figures in ₹ Crores

Balance Sheet

Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital
37
37
19
19
19
19
19
19
19
19
19
19
Reserves
2,290
3,287
2,745
3,291
3,925
4,572
5,367
6,427
7,642
10,223
12,496
15,435
Borrowing
21,431
1,441
0
38,200
50,447
55,117
63,797
69,229
97,191
1,34,014
1,74,366
2,10,400
Other Liabilities
6,579
4,900
5,129
11,897
13,546
16,147
19,432
22,097
26,181
32,662
37,732
42,476
Total Liabilities
30,338
9,665
7,892
53,407
67,937
75,855
88,616
97,771
1,31,033
1,76,917
2,24,614
2,68,331
Fixed Assets
1,521
1,336
102
311
306
479
447
464
623
1,784
2,029
2,209
CWIP
40
56
0
4
14
11
10
40
60
35
54
97
Investments
2,665
5,141
6,536
6,211
7,552
8,893
11,678
13,282
17,536
20,058
24,271
24,968
Other Assets
26,112
3,131
1,254
46,881
60,065
66,472
76,481
83,984
1,12,813
1,55,041
1,98,260
2,41,056
Total Assets
30,338
9,665
7,892
53,407
67,937
75,855
88,616
97,771
1,31,033
1,76,917
2,24,614
2,68,331
Figures in ₹ Crores

Cash Flow

Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating
-1,685
-500
594
-6,302
-9,274
-1,914
-9,719
-5,738
-29,329
-35,726
-34,201
-30,033
Investing
-461
193
-1,263
-1,825
-94
-96
-62
-135
295
-2,625
-1,038
-2,528
Financing
1,704
748
-69
8,287
12,171
2,427
7,688
7,073
27,288
38,269
39,652
35,650
Net Cash Flow
-443
441
-738
160
2,803
417
-2,093
1,199
-1,746
-82
4,413
3,089
Free Cash Flow
-1,822
-674
568
-6,391
-9,367
-2,011
-9,781
-5,874
-29,586
-36,887
-34,528
-30,365
CFO/OP
-41
-13
230
-126
-145
-17
-125
-65
-296
-238
-173
-131
Figures in ₹ Crores

Ratios

Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
ROE %
19%
21%
15%
18%
19%
13%
17%
17%
18%
20%
19%
17%

Insights

Beta

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

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Shareholding Pattern

Others3.56%Govt.0.46%Promot.46.43%Public9.66%FIIs13.00%DIIs26.89%As ofJun 2026
0.02% of promoter holding pledged as of Jun 2026

Documents

Frequently Asked Questions about Cholamandalam Financial Holdings

What does Cholamandalam Financial Holdings Ltd do?
Cholamandalam Financial Holdings Ltd, part of the Murugappa Group, is an RBI-registered Core Investment Company with interests in lending, general insurance, and risk-management services.[1]
Where is Cholamandalam Financial Holdings Ltd (CHOLAHLDNG) listed?
Cholamandalam Financial Holdings Ltd trades as CHOLAHLDNG on the NSE and under code 504973 on the BSE.
Which sector does Cholamandalam Financial Holdings Ltd belong to?
Cholamandalam Financial Holdings Ltd is classified under the Financial Services sector, in the Investment Company industry.
What is the market capitalisation of Cholamandalam Financial Holdings Ltd?
Cholamandalam Financial Holdings Ltd has a market capitalisation of ₹26,176 Cr as of 9 Oct 2026, which places it in the Large Cap band.
What is the PE ratio of Cholamandalam Financial Holdings Ltd?
Cholamandalam Financial Holdings Ltd trades at a PE ratio of 9.81 as of 9 Oct 2026, on earnings per share of ₹142.12, against a book value of ₹822.62 per share.
What is the 52-week high and low of Cholamandalam Financial Holdings Ltd?
Over the last 52 weeks Cholamandalam Financial Holdings Ltd has traded between ₹1,305 and ₹2,064 as of 9 Oct 2026.
Does Cholamandalam Financial Holdings Ltd pay dividends?
Cholamandalam Financial Holdings Ltd has a dividend yield of 0.09%.
What is the Return on Equity (ROE) of Cholamandalam Financial Holdings Ltd?
Cholamandalam Financial Holdings Ltd reported a return on equity of 16.17%. Its debt-to-equity ratio is 13.76.

Company Information

Cholamandalam Financial Holdings Ltd, part of the Murugappa Group, is an RBI-registered Core Investment Company with interests in lending, general insurance, and risk-management services.[1]

Website cholafhl.com
CEO Mr. N. Ganesh
Employees 48,434
Listed 2017-09-25
Face Value ₹ 1
Shares Outstanding 18,77,77,462

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