CHOLAFINNSE30 April 2026

Cholamandalam Investment and Finance Company Limited

10,773words
3turns
0analyst exchanges
0executives
Key numbers — 40 extracted
Rs.1000
ance business 2017 • GaadiBazaar dealer platform 2018 • Gen 3 scoring model 2019 • PAT crossed Rs.1000 Cr • HL platform digitization • HRMS SaaS solution • AI/ML based scoring model 2012 • Commenced T
16%
150 Days 2021 • LAP platform digitization • Covid pandemic - registered a growth in assets of 16% and a growth of 44% in PAT 2022 • Launched CSEl, SSBPL ₹1.5 lakh Cr. • Launched a composite
44%
platform digitization • Covid pandemic - registered a growth in assets of 16% and a growth of 44% in PAT 2022 • Launched CSEl, SSBPL ₹1.5 lakh Cr. • Launched a composite QIP issue of equity
₹1.5 lakh
registered a growth in assets of 16% and a growth of 44% in PAT 2022 • Launched CSEl, SSBPL ₹1.5 lakh Cr. • Launched a composite QIP issue of equity shares and CCD aggregating to Rs.4,000 Cr. &
Rs.4,000
BPL ₹1.5 lakh Cr. • Launched a composite QIP issue of equity shares and CCD aggregating to Rs.4,000 Cr. & SME business • ROA back to Pre- COVID levels • Reaffirmed as constituent of FTSE4Good Ind
₹1.99 lakh
as UL • category Launch of public debt. 2024 • Total AUM crossed 2025 • Total AUM crossed ₹1.99 lakh Cr. • Increased branch network to 1613. 2026 • Launched Gold loan business. • Total AUM crosse
₹2.42 lakh
• Increased branch network to 1613. 2026 • Launched Gold loan business. • Total AUM crossed ₹2.42 lakh Cr. • Increased branch network to 1761. 50.4 lakh + customers 73,689 employees Rs. 2.42+ lakh
50.4 lakh
d Gold loan business. • Total AUM crossed ₹2.42 lakh Cr. • Increased branch network to 1761. 50.4 lakh + customers 73,689 employees Rs. 2.42+ lakh Cr. Total AUM Rs. 115k+ Cr. market cap 1761 branch
rs 73,689
s. • Total AUM crossed ₹2.42 lakh Cr. • Increased branch network to 1761. 50.4 lakh + customers 73,689 employees Rs. 2.42+ lakh Cr. Total AUM Rs. 115k+ Cr. market cap 1761 branches Diversified produc
Rs. 2.42
d ₹2.42 lakh Cr. • Increased branch network to 1761. 50.4 lakh + customers 73,689 employees Rs. 2.42+ lakh Cr. Total AUM Rs. 115k+ Cr. market cap 1761 branches Diversified product portfolio Exper
Rs. 115
d branch network to 1761. 50.4 lakh + customers 73,689 employees Rs. 2.42+ lakh Cr. Total AUM Rs. 115k+ Cr. market cap 1761 branches Diversified product portfolio Experienced management 6 Highlig
25%
Q4 FY26 & FY26 Particulars Q4 FY26 Vs Q4 FY25 FY26 Vs FY25 Disbursement Disbursement grew at 25% to Rs.32,913 Cr as compared to Rs. 26,417 Cr Disbursement grew at 11% to Rs.1,11,642 Cr as compa
Guidance — 20 items
Cholas Position
opening
“28 Auto Industry Outlook Trend in Domestic LCV Sales Trend in Domestic SCV Sales CAGR @ 5% Chola 4 year CAGR (7%) CAGR @ 2% • Growth driven by replacement demand, last-mile needs, and supportive macro environment.”
Cholas Position
opening
“18,132 Cr as compared to Q4 FY25 and by 15% in FY26 to Rs.62,123 as compared to FY25.”
Cholas Position
opening
“Loss and provisions Loan losses at 1.6% in Q4 FY26 as compared to 1.2% in Q4 FY25 and at 1.9% in FY26 as compared to 1.6% in FY25.”
Cholas Position
opening
“Profit before tax PBT grew by 18% in Q4 FY26 to Rs.1,067 Cr as compared to Q4 FY25 and by 11% in FY26 to Rs.3,145 Cr as compared to FY25.”
Cholas Position
opening
“SBPL - Secured Business & Personal Loan 44 MSME Ecosystem – Q4 FY26 & FY26 Performance Disbursements Disbursements grew by 11% in Q4 FY26 to Rs.”
Cholas Position
opening
“8,519 Cr as compared to Q4 FY25 and grew by 9% in FY26 to Rs.29,438 Cr as compared to FY25.”
Cholas Position
opening
“Loss and provisions Loan losses at 0.7% in Q4 FY26 as compared to 0.4% in Q4 FY25 and at 0.6% in FY26 as compared to 0.3% in FY25.”
Cholas Position
opening
“Profit before tax PBT grew by 45% in Q4FY26 to Rs.633 Cr as compared to Q4 FY25 and by 45% in FY26 to Rs.2,201 Cr as compared to FY25.”
Cholas Position
opening
“55 Cr having an impact of 0.10% of Average Assets in FY26 48 4.9%5.5%5.8%6.1%6.6%FY22FY23FY24FY25FY261.4%1.8%2.2%2.2%2.2%FY22FY23FY24FY25FY260.7%0.3%-0.1%0.3%0.6%FY22FY23FY24FY25FY262.8%3.5%3.6%3.5%3.8%FY22FY23FY24FY25FY26 Profit and Loss Statement – MSME Ecosystem ₹ Cr Note: Includes LAP, SME & SBPL * Loan Losses includes Management overlay of Rs.”
Cholas Position
opening
“5,838 Cr as compared to Q4 FY25 and by 14% in FY26 to Rs.20,459 Cr as compared to FY25.”
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Risks & concerns — 12 flagged
55 Cr having an impact of 0.10% of Average Assets in FY26 48 4.9%5.5%5.8%6.1%6.6%FY22FY23FY24FY25FY261.4%1.8%2.2%2.2%2.2%FY22FY23FY24FY25FY260.7%0.3%-0.1%0.3%0.6%FY22FY23FY24FY25FY262.8%3.5%3.6%3.5%3.8%FY22FY23FY24FY25FY26 Profit and Loss Statement – MSME Ecosystem ₹ Cr Note: Includes LAP, SME & SBPL * Loan Losses includes Management overlay of Rs.
— Cholas Position
40 Cr having an impact of 0.32% of Average Assets in Q4FY26 and 0.09% in FY26 52 51 Sector outlook: Loan Against Property • ICRA expects the NBFC Retail segment to grow at a moderate pace of 17-19% during FY2026 and 16-18% in FY2027.
— Cholas Position
Growth is supported by steady disbursement momentum and disciplined risk management, anchored by robust collections, legal processes, and strong early-bucket performance.
— Cholas Position
40 Cr having an impact of 0.09% of Average Assets in FY26 55 4.9%5.5%5.5%5.6%6.0%FY22FY23FY24FY25FY261.2%1.4%1.8%1.9%1.8%FY22FY23FY24FY25FY260.7%0.1%-0.2%0.2%0.3%FY22FY23FY24FY25FY263.0%4.0%3.9%3.6%3.9%FY22FY23FY24FY25FY26 Profit and Loss Statement - Loan Against Property (Managed) ₹ Cr Note: *Loan Losses includes Management overlay of Rs.
— Cholas Position
5 Cr having an impact of 0.60% of Average Assets in Q4FY26 and 0.20% in FY26 Net impact on ARC Sale in NCL is Rs 10.60 Cr (1.27% on Avg.
— Cholas Position
25 Cr having an impact of 0.07% of Average Assets in FY26 64 7.7%8.8%10.3%10.5%10.4%FY22FY23FY24FY25FY262.9%4.0%4.5%4.1%4.4%FY22FY23FY24FY25FY261.0%0.8%2.0%2.9%3.1%FY22FY23FY24FY25FY263.9%4.0%3.8%3.5%2.8%FY22FY23FY24FY25FY26 Profit and Loss Statement – Consumer Ecosystem ₹ Cr Note: Includes HL, CSEL, CD, Gold * Loan Losses includes management overlay of Rs.
— Cholas Position
The impact of leverage, competition and seasoning of earnings remain monitorable over the medium term.
— Cholas Position
• Asset quality to remain rangebound; portfolio seasoning and concerns emerging from external disruptions impacting borrower income and their credit quality remain a monitorable and pose downside risk to asset quality performance.
— Cholas Position
We will capitalize on sustained affordable housing demand, led by first-time buyers in semi-urban and rural markets, while pursuing calibrated growth with strong underwriting and risk discipline.
— Cholas Position
20 Cr having an impact of 0.10% of Average Assets in FY26 71 7.7%8.0%8.8%8.6%8.7%FY22FY23FY24FY25FY262.2%2.9%4.1%3.7%3.6%FY22FY23FY24FY25FY260.9%0.3%0.2%0.4%1.0%FY22FY23FY24FY25FY264.5%4.8%4.5%4.5%4.2%FY22FY23FY24FY25FY26 Profit and Loss Statement - Home Loans (Managed) ₹ Cr Note: Loan Losses includes management overlay of Rs.
— Cholas Position
20 Cr having an impact of 0.37% of Average Assets in Q4FY26 and 0.10% in FY26 Net impact on ARC Sale in NCL is Rs 37 Cr (0.67% on Avg.
— Cholas Position
ESG Working Committee – This Committee comprises the members of the Enterprise Risk Management (ERM) division and SPOCs from lines of business and functions, directly engaged into ESG related aspects to undertake implementation of the initiatives at the ground level, data obtaining, submission of reports, regulatory compliance, coordination etc.
— Cholas Position
Speaking time
Cholas Position
3
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Opening remarks
Cholas Position
We will continue to closely track industry trends, with growth expected to broadly mirror overall market dynamics and demand conditions. Our strategy remains focused on calibrated, sustainable growth aligned to end-use demand and customer cash-flow trends, while maintaining portfolio quality, scale, and strong collections. 28 Auto Industry Outlook Trend in Domestic LCV Sales Trend in Domestic SCV Sales CAGR @ 5% Chola 4 year CAGR (7%) CAGR @ 2% • Growth driven by replacement demand, last-mile needs, and supportive macro environment. • • Strong traction from consumption-led and e-commerce sectors. Pickups to gain share over time due to higher versatility. • Demand supported by urbanization, school and corporate needs, and higher inter-city travel. Source: FY23 to FY29 numbers are from SIAM & ICRA 31 457481470467508655593055686535FY'23FY'24FY'25FY'26FY29 ( E )(in Units)Chola YoY growth rate 14%Chola 4 year CAGR 6%200811188283171587182277193434FY'23FY'24FY'25FY'26FY29 ( E )(in Units)Chola
Cholas Position
We are driving market-share gains through targeted retail expansion in smaller towns and rural markets, while sustaining a strong presence across Tier 1 and Tier 2 locations to optimize margins and scale. Growth is supported by steady disbursement momentum and disciplined risk management, anchored by robust collections, legal processes, and strong early-bucket performance. Source: https://www.crisilratings.com/en/home/newsroom/press-releases/2025/11/aum-to-tick-up-steadily-for-nbfcs-cross-rs-50-lakh-crore-next-fiscal.html Source: IMARC Report Source: https://www.icra.in/Research/FullReportView/6314 52 Loan Against Property - Disbursements and Asset Under Management Disbursements (₹Cr) Assets under Management (₹Cr) 53 5,536 9,299 13,554 17,913 20,459 FY22FY23FY24FY25FY2615,250 20,474 29,036 38,927 45,808 1,544 1,114 823 2,512 6,487 *16,795 *21,588 *29,859 *41,439 *52,295 FY22FY23FY24FY25FY26On BookAssigned* Total AUM Loan Against Property – Income and Profit before tax Income (₹Cr) Prof
Cholas Position
We will capitalize on sustained affordable housing demand, led by first-time buyers in semi-urban and rural markets, while pursuing calibrated growth with strong underwriting and risk discipline. Operating leverage is improving through a low-cost distribution model, digitization and AI-led efficiencies, with asset quality supported by robust collections and legal recovery frameworks. Source: ICRA research report 67 Home Loans – Q4 FY26 & FY26 Performance Disbursements Disbursements at Rs. 1,895 Cr in Q4 FY26 as compared to Rs. 1,983 in Q4 FY25 and at Rs. 7,363 Cr in FY26 as compared to Rs.7,404 Cr in FY25. Asset under management AUM has grown by 23% YoY. Loss and provisions Loan losses at 1.5% in Q4 FY26 as compared to 0.6% in Q4 FY25 and at 1.0% in FY26 as compared to 0.4% in FY25. Profit before tax PBT grew by 21% to Rs. 239 Cr in Q4 FY26 as compared to Q4 FY25 and grew at 22% to Rs. 865 Cr in FY26 as compared to FY25. Note: Home Loans includes Affordable LAP Loan Losses includes man
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