CHOLAHLDNGNSEMay 8, 2026

Cholamandalam Financial Holdings Limited

8,144words
3turns
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Key numbers — 40 extracted
rs,
mplex Bandra (E) Mumbai 400 051 The Secretary BSE Limited, 25th Floor, Phiroze Jeejeebhoy Towers, Dalal Street, Fort, Mumbai 400 001 Symbol: CHOLAHLDNG Scrip Code : 504973 Dear Sir / Madam,
44.34%
000+ Work force 4 2 Cholamandalam Financial Holdings Limited (CFHL) (Core Investment Company) 44.34% 60.00% 49.50% Cholamandalam Investment and Finance Company Limited (CIFCL) Cholamandalam
60.00%
force 4 2 Cholamandalam Financial Holdings Limited (CFHL) (Core Investment Company) 44.34% 60.00% 49.50% Cholamandalam Investment and Finance Company Limited (CIFCL) Cholamandalam MS Gene
49.50%
4 2 Cholamandalam Financial Holdings Limited (CFHL) (Core Investment Company) 44.34% 60.00% 49.50% Cholamandalam Investment and Finance Company Limited (CIFCL) Cholamandalam MS General Insur
16.32%
ent, Health and Safety 3 Shareholding Pattern Shareholding Pattern as of March 31, 2026 Others, 16.32% FPI, 13.68% Promoters, 46.38% Mutual Funds, 23.62% Promoters Mutual Funds FPI Others Insti
13.68%
nd Safety 3 Shareholding Pattern Shareholding Pattern as of March 31, 2026 Others, 16.32% FPI, 13.68% Promoters, 46.38% Mutual Funds, 23.62% Promoters Mutual Funds FPI Others Institutional Hold
46.38%
olding Pattern Shareholding Pattern as of March 31, 2026 Others, 16.32% FPI, 13.68% Promoters, 46.38% Mutual Funds, 23.62% Promoters Mutual Funds FPI Others Institutional Holders (More than 1%)
23.62%
lding Pattern as of March 31, 2026 Others, 16.32% FPI, 13.68% Promoters, 46.38% Mutual Funds, 23.62% Promoters Mutual Funds FPI Others Institutional Holders (More than 1%) Top Domestic Institutio
1%
6.38% Mutual Funds, 23.62% Promoters Mutual Funds FPI Others Institutional Holders (More than 1%) Top Domestic Institutional Holdings NIPPON LIFE INDIA TRUSTEE LTD SBI NIFTY SMALLCAP 250 INDEX F
17%
rmance Highlights - Consolidated Rs.in Cr. Revenue Profit after tax EPS (Rs.) Q4 FY26 10,520 17% 9,009 Q4 FY25 1,626 19% 1,362 36.59 12% 32.68 Rs.in Cr. Revenue Profit after tax EPS (R
19%
ated Rs.in Cr. Revenue Profit after tax EPS (Rs.) Q4 FY26 10,520 17% 9,009 Q4 FY25 1,626 19% 1,362 36.59 12% 32.68 Rs.in Cr. Revenue Profit after tax EPS (Rs.) YTD Mar-26 39,576 18%
12%
venue Profit after tax EPS (Rs.) Q4 FY26 10,520 17% 9,009 Q4 FY25 1,626 19% 1,362 36.59 12% 32.68 Rs.in Cr. Revenue Profit after tax EPS (Rs.) YTD Mar-26 39,576 18% YTD Mar-25 33,46
Guidance — 20 items
Cholas Position
opening
“17 Auto Industry Outlook Trend in Domestic LCV Sales Trend in Domestic SCV Sales Chol a 4 ye ar CAGR 6% Chola YoY grow th rate 14% Chola 4 year CAGR (7%) (in Units) CAGR @ 5% 686535 457481 470467 508655 593055 200811 188283 171587 182277 Chola YoY grow th rate 19% (in Units) CAGR @ 2% 193434 FY'23 FY'24 FY'25 FY'26 FY29 ( E ) FY'23 FY'24 FY'25 FY'26 FY29 ( E ) • Growth driven by replacement demand, last-mile needs, and supportive macro environment.”
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.”
Cholas Position
opening
“Loss and provisions Loan losses at 0.4% in Q4 FY26 as compared to 0.2% in Q4 FY25 and at 0.3% in FY26 as compared to 0.2% in FY25.”
Cholas Position
opening
“Profit before tax PBT grew by 45% in Q4 FY26 to Rs.522 Cr as compared to Q4 FY25 and by 44% in FY26 to Rs.1,818 Cr as compared to FY25.”
Cholas Position
opening
“40 Cr having an impact of 0.32% of Average Assets in Q4FY26 and 0.09% in FY26 52 27 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
opening
“7,363 Cr in FY26 as compared to Rs.7,404 Cr in FY25.”
Cholas Position
opening
“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.”
Cholas Position
opening
“239 Cr in Q4 FY26 as compared to Q4 FY25 and grew at 22% to Rs.”
Cholas Position
opening
“20 Cr having an impact of 0.37% of Average Assets in Q4FY26 and 0.10% in FY26 32 Sector outlook: Home loans • AUM of AHFCs increased by 19% YOY in 9 M FY2026 supported by good demand and faster growth pace.”
Cholas Position
opening
“The underpenetrated market and the government’s thrust on “housing for all’ are likely to support growth going forward.”
Risks & concerns — 10 flagged
40 Cr having an impact of 0.32% of Average Assets in Q4FY26 and 0.09% in FY26 52 27 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
20 Cr having an impact of 0.37% of Average Assets in Q4FY26 and 0.10% in FY26 32 Sector outlook: Home loans • AUM of AHFCs increased by 19% YOY in 9 M FY2026 supported by good demand and faster growth pace.
— 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
598 Crs in FY’26 *Average RONW, excluding the impact of wage code of Rs.
— Cholas Position
6.65 Crs, stood at 10.7% $ PAT is after factoring the impact of mark to market impairment provisioning of Rs.5.72Crs for FY2026 in equity investment assets 44 44 Financial Performance (Rs.
— Cholas Position
Crs) GWP* GWP growth PAT PAT Growth RONW (not annualised) COR# COR(excl NAT CAT) Investment Leverage (investment portfolio/ Networth) Excluding 1/n impact With 1/n impact Q4 FY 26 2453 8.6% 97 -49.4% 2.83% 110.1% 109.7% 5.51 FY26 9314 8.6% 428 -24.1% 13.10% 112.2% 111.5% 5.51 Q4 FY 26 2349 10.04% 73 -49.0% 2.23% 112.8% 112.4% 5.76 FY26 8904 6.92% 331 -34.8% 10.45% 115.2% 114.5% 5.76 *Impact of loss of crop insurance business on GWP is Rs.
— Cholas Position
Income & Others Reduction in EOM Increase in TP inflation linked provisioning Increase in Motor OD Claims Increase in LR - Non Motor Decrease in RI Commission Impact of RI Inward Arrangements New Labour Code Impact PBT FY26 49 49 Capital efficiency - No Capital Infusion in last 13 years Net Worth 2492 2999 3329 Rs In Crs 2050 442 FY'24 2557 442 FY 25 Capital Invested Reserves 2887 442 FY 26  Accumulated profits @ 86.7% of Net worth (Rs.3329 Crs) as on FY’26  Total Capital infused is Rs.
— Cholas Position
Speaking time
Cholas Position
3
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. 17 Auto Industry Outlook Trend in Domestic LCV Sales Trend in Domestic SCV Sales Chol a 4 ye ar CAGR 6% Chola YoY grow th rate 14% Chola 4 year CAGR (7%) (in Units) CAGR @ 5% 686535 457481 470467 508655 593055 200811 188283 171587 182277 Chola YoY grow th rate 19% (in Units) CAGR @ 2% 193434 FY'23 FY'24 FY'25 FY'26 FY29 ( E ) FY'23 FY'24 FY'25 FY'26 FY29 ( E ) • 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. Sour
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 28 Loan Against Property - Disbursements and Asset Under Management Disbursements (₹Cr) Assets under Management (₹Cr) 20,459 17,913 13,554 * 52,295 6,487 * 41,439 2,512 45,808 38,927 * 29,859 823 29,036 * 21,588 1,114 20,474 * 16,795 1,544 15,250 9,299 5,536 FY22 FY23 FY24 FY25 FY26 FY22 FY23 FY24 FY25 FY26 On Book Assigned * Total AUM 29 Loan Against Property – Income and Profit before tax
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 33 Home Loans - Disbursements and Asset Under Management Disbursements (₹Cr) Assets under Management (₹Cr) 7,404 7,363 6,362 *22,688 240 *18,427 296 22,448 18,131 *13,404 356 13,048 *8,451 433 8,018 *5,590 527 5,063 3,830 1,896 FY22 FY23 FY24 FY25 FY26 FY22 FY23 On Book FY24 Assigned FY25 * Total AUM FY26 34 Home Loans - Income and Profit before tax Income (₹Cr) Profit before tax (₹Cr) 3,274 2,548 865 709 1,756 489 971 692 321 222 FY22 FY23 FY24 FY25 FY26 FY22 FY23 FY24 FY25 FY26 35 36 CAR and Credit Rating Capital Adequacy Ratio (CAR) – As per RBI guideline 19.62 3.13 16.49 FY
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