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]
PromoterThe company is part of the Murugappa Group, a prominent Chennai-based conglomerate founded in 1900. With a $9.3 billion portfolio, the group spans three sectors with 29 businesses and nine listed companies. It operates 113 manufacturing sites in 50 countries and employs over 83,000 people.[1][2]
| S.No. | Name | Current Price (Rs.) | Price to Earning | Market Capitalization (Rs.Cr.) | Dividend yield (%) | Net Profit latest quarter (Rs.Cr.) | YOY Quarterly profit growth (%) | Sales latest quarter (Rs.Cr.) | YOY Quarterly sales growth (%) | Return on capital employed (%) | Sales (Rs.Cr.) | OPM (%) | Profit after tax (Rs.Cr.) | Profit after tax latest quarter (Rs.Cr.) | Price to book value | Return on assets (%) | Debt to equity |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1. | Bajaj Finance | 950.25 | 32.30 | 591197.59 | 0.46 | 4947.76 | 21.89 | 20178.90 | 18.06 | 11.35 | 76194.74 | 68.48 | 18301.08 | 4875.36 | 5.73 | 3.99 | 3.85 |
| 2. | Shriram Finance | 995.45 | 21.45 | 187896.03 | 0.99 | 2314.16 | 12.22 | 11912.44 | 18.07 | 10.95 | 45601.30 | 72.59 | 8760.03 | 2314.22 | 3.09 | 3.04 | 3.87 |
| 3. | Muthoot Finance | 3936.10 | 21.64 | 158038.06 | 0.66 | 2411.65 | 90.36 | 7282.79 | 47.76 | 13.19 | 24544.40 | 75.96 | 7303.69 | 2420.63 | 4.82 | 4.67 | 3.76 |
| 4. | Tata Capital | 359.35 | 41.43 | 152474.92 | 0.00 | 1118.97 | 2.01 | 7737.18 | 7.69 | 9.58 | 28323.85 | 71.64 | 3658.33 | 1097.32 | – | 1.72 | 5.88 |
| 5. | Cholaman.Inv.&Fn | 1699.20 | 30.87 | 143389.94 | 0.12 | 1155.31 | 19.96 | 7469.58 | 19.96 | 10.34 | 28448.76 | 69.35 | 4644.47 | 1155.31 | 5.52 | 2.38 | 7.24 |
| 6. | SBI Cards | 839.65 | 41.65 | 79889.76 | 0.30 | 444.77 | 9.98 | 4960.98 | 12.21 | 10.40 | 19130.54 | 27.49 | 1918.14 | 444.77 | 5.40 | 3.10 | 3.33 |
| 7. | L&T Finance Ltd | 296.40 | 27.50 | 74200.78 | 0.93 | 734.88 | 5.64 | 4335.75 | 7.87 | 8.71 | 16715.82 | 60.77 | 2698.51 | 734.84 | 2.81 | 2.37 | 3.72 |
| – | Median: 96 Co. | 130.93 | 21.7 | 490.94 | 0.0 | 7.23 | 10.95 | 41.0 | 12.68 | 8.91 | 166.22 | 56.43 | 17.7 | 6.24 | 1.93 | 3.04 | 0.78 |
Standalone figures in ₹ crores
| Sep 2022 | Dec 2022 | Mar 2023 | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Sales | – | – | – | – | – | – | – | – | – | – | – | – | – |
Expenses | 912 | 881 | 866 | 1,121 | 1,308 | 1,378 | 1,401 | 1,706 | 1,877 | 2,019 | 1,989 | 2,268 | 2,444 |
Operating Profit | – | – | – | – | – | – | – | – | – | – | – | – | – |
Other Income | 50 | 52 | 93 | 71 | 137 | 59 | 104 | 44 | 66 | 103 | 96 | 86 | 121 |
Profit before tax | 758 | 921 | 1,159 | 968 | 1,021 | 1,157 | 1,437 | 1,268 | 1,299 | 1,464 | 1,706 | 1,530 | 1,561 |
Tax % | 26% | 26% | 26% | 25% | 25% | 24% | 26% | 26% | 26% | 26% | 26% | 26% | 26% |
Net Profit | 563 | 684 | 853 | 726 | 762 | 876 | 1,058 | 942 | 963 | 1,087 | 1,267 | 1,136 | 1,155 |
EPS in Rs | 6.86 | 8.33 | 10.38 | 8.83 | 9.27 | 10.43 | 12.60 | 11.21 | 11.46 | 12.92 | 15.06 | 13.50 | 13.73 |
Standalone Figures in ₹ Crores / Yearly
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Sales | – | – | – | – | – | – | – | – | – | – | – | – | – |
Expenses | 918 | 1,044 | 1,250 | 1,286 | 1,369 | 1,525 | 2,367 | 2,862 | 2,852 | 3,510 | 5,207 | 7,589 | 8,719 |
Operating Profit | – | – | – | – | – | – | – | – | – | – | – | – | – |
Other Income | 1 | 0 | 1 | 1 | 0 | 1 | 0 | 56 | 84 | 220 | 255 | 261 | 405 |
Interest | 1,771 | 1,960 | 2,051 | 2,231 | 2,659 | 3,589 | 4,592 | 4,576 | 4,299 | 5,749 | 9,231 | 12,485 | 13,616 |
Depreciation | 24 | 29 | 21 | 38 | 50 | 55 | 108 | 98 | 97 | 119 | 196 | 242 | 259 |
Profit before tax | 550 | 657 | 871 | 1,106 | 1,401 | 1,823 | 1,586 | 2,038 | 2,891 | 3,600 | 4,582 | 5,737 | 6,260 |
Net Profit | 364 | 435 | 568 | 719 | 918 | 1,186 | 1,052 | 1,515 | 2,147 | 2,666 | 3,423 | 4,259 | 4,644 |
EPS in Rs | 5.08 | 6.06 | 7.28 | 9.20 | 11.75 | 15.17 | 12.84 | 18.47 | 26.15 | 32.44 | 40.75 | 50.64 | 55.21 |
Dividend Payout % | 14% | 12% | 12% | 12% | 11% | 9% | 13% | 11% | 8% | 6% | 5% | 4% | – |
Standalone figures in ₹ crores
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Equity Capital | 143 | 144 | 156 | 156 | 156 | 156 | 164 | 164 | 164 | 164 | 168 | 168 | 168 |
Reserves | 2,151 | 2,530 | 3,501 | 4,129 | 4,942 | 6,019 | 8,008 | 9,396 | 11,543 | 14,132 | 19,388 | 23,459 | 25,726 |
Borrowings | – | – | – | – | – | – | – | – | – | – | – | – | – |
Other Liabilities | 1,159 | 1,225 | 1,655 | 2,201 | 661 | 684 | 825 | 1,258 | 1,482 | 1,863 | 2,421 | 3,074 | 3,060 |
Total Liabilities | 21,547 | 23,873 | 27,888 | 30,595 | 44,090 | 57,426 | 64,002 | 74,548 | 82,363 | 113,516 | 156,451 | 201,648 | 216,470 |
Fixed Assets | 73 | 68 | 111 | 140 | 161 | 163 | 274 | 220 | 255 | 399 | 1,557 | 1,772 | 1,915 |
Gross Block | 159.53 | 177.20 | 231.64 | 296.50 | 205.31 | 265.98 | 475.74 | 517.44 | 639.96 | 880.91 | 2,188.73 | 2,367.21 | – |
Accumulated Depreciation | 86.64 | 108.87 | 120.32 | 156.42 | 44.51 | 103.22 | 202.14 | 297.84 | 385.39 | 482.18 | 631.59 | 595.27 | – |
CWIP | 0 | 0 | 0 | 0 | 4 | 13 | 10 | 10 | 37 | 60 | 12 | 11 | 9 |
Investments | 82 | 67 | 67 | 239 | 73 | 73 | 73 | 1,619 | 2,076 | 3,620 | 4,100 | 6,390 | 7,183 |
Other Assets | 21,391 | 23,737 | 27,710 | 30,216 | 43,852 | 57,178 | 63,646 | 72,700 | 79,996 | 109,436 | 150,781 | 193,474 | 207,363 |
Total Assets | 21,547 | 23,873 | 27,888 | 30,595 | 44,090 | 57,426 | 64,002 | 74,548 | 82,363 | 113,516 | 156,451 | 201,648 | 216,470 |
Standalone Figures in ₹ Crores / Yearly
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
Cash from Operating Activity | -2,451 | -2,271 | -2,814 | -1,491 | -7,923 | -9,331 | -2,086 | -8,857 | -5,608 | -27,037 | -35,768 | -32,404 |
Cash from Investing Activity | -80 | -40 | -147 | -202 | -63 | -4 | -51 | -1,759 | 1,667 | -2,160 | -2,705 | -2,867 |
Cash from Financing Activity | 2,751 | 1,826 | 3,037 | 1,701 | 7,965 | 12,220 | 2,461 | 8,708 | 5,151 | 27,449 | 38,405 | 39,707 |
Net Cash Flow | 219 | -485 | 76 | 8 | -20 | 2,885 | 323 | -1,908 | 1,210 | -1,748 | -68 | 4,436 |
Standalone Figures in ₹ Crores / Yearly
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
Debtor Days | – | – | – | – | – | – | – | – | – | – | – | – |
Inventory Days | – | – | – | – | – | – | – | – | – | – | – | – |
Days Payable | – | – | – | – | – | – | – | – | – | – | – | – |
Cash Conversion Cycle | – | – | – | – | – | – | – | – | – | – | – | – |
Working Capital Days | – | – | – | – | – | – | – | – | – | – | – | – |
ROCE % | – | – | – | – | – | – | – | – | – | – | – | – |
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Stock Analysis
Cholamandalam Investment and Finance Company Limited is a diversified NBFC, part of the Murugappa Group, offering vehicle finance, home loans, and Loan Against Property.
The company's Q2 FY26 results showed strong AUM growth in Vehicle Finance (17% YoY), Loan Against Property (33% YoY), and Home Loans (28% YoY). Management guided for AUM growth above 20% in H2 FY26, with NIM improvement and moderating credit costs.
Currently no data available for Order Book.
Historically, the stock traded at a high Price to Book value (5.49x). Recent results also indicated a slight increase in GNPA (4.57%) and Stage 3 assets, alongside increased finance costs and impairments.
Board meeting scheduled for January 30, 2026, to approve Q3 FY26 results.
Corporate Announcements
