CHOLAMANDALAM INVESTMENT AND FINANCE COMPANY LIMITED (CHOLA)
UN-AUDITED FINANCIAL RESULTS FOR THE QUARTER AND HALF YEAR ENDED
30th SEPTEMBER 2018
Q2 FY19: Assets under Management up by 31% and PAT up by 49% over Q2 FY18
Chennai, October 30, 2018: The Board of Directors of Cholamandalam Investment and Finance Company Limited today approved its un-audited financial results for the quarter and half year ended 30th September 2018.
Q2 Performance: Rs in Cr.
Rs in Cr.
* Annualised **As % of average assets
Disbursements grew by 26% PAT grew by 49% ROTA – PBT improved by 50 bps
Aggregate disbursements for the half year were at ₹ 13,914 Cr as against ₹ 10,345 Cr in the previous half year of FY18, registering a growth of 34%,.
Vehicle Finance business has clocked a volume of ₹ 11,207 Crs for the period ended September 2018 as against ₹ 8,114 Cr. for the same period in the previous year, reporting a growth of 38% Y-o-Y. This has been attributable by consistent growth in HCV and LCV segment.
Home Equity business disbursed ₹ 1,849 Crs as against ₹ 1,570 Crs for YTD September FY 18, marking a growth of 18% YoY, getting back to growth trajectory.
Assets under management grew by 31% at Rs.47,720 Crs as compared to Rs.36,456 Crs in Q2 FY18.
The PBT-ROTA for YTD FY19 improved to 4.0% as against 3.6% in YTD September of FY18
GNPA, NNPA and Provision Coverage Ratio
The Company has been able to maintain stage 3 receivables in absolute term at June’18 level, inspite of increase in overall asset position from Rs. 45,243 Cr to Rs 47,690 Cr. A brief comparison under IGAAP and IND AS is given below:
Rs in Cr.
The Capital Adequacy Ratio (CAR) of the company as on 30th September 2018, was at 18.34% as against the regulatory requirement of 15%.
During the quarter, the Company entered into an investment agreement with TVS Logistics Services Limited (TVSLSL), pursuant to which TVSLSL has taken a 51% stake in White Data Systems India Private Limited. Consequently the holding of our Company is reduced from 63% to 31%.
Cholamandalam Investment and Finance Company Limited (Chola), incorporated in 1978 as the financial services arm of the Murugappa Group. Chola commenced business as an equipment financing company and has today emerged as a comprehensive financial services provider offering vehicle finance, home loans, home equity loans, SME loans, investment advisory services, stock broking and a variety of other financial services to customers.
Chola operates from 885 branches across India with assets under management above INR 47,000 Crores. The subsidiaries of Chola are Cholamandalam Securities Limited (CSEC), Cholamandalam Distribution Services Limited (CDSL).
The mission of Chola is to enable customers enter a better life. Chola has a growing clientele of over 8 lakh happy customers across the nation. Ever since its inception and all through its growth, the company has kept a clear sight of its values. The basic tenet of these values is a strict adherence to ethics and a responsibility to all those who come within its corporate ambit – customers, shareholders, employees and society. For more details, please visit www.cholamandalam.com
About Murugappa Group
Founded in 1900, the INR 329 Billion (32,893 Crores) Murugappa Group is one of India’s leading business conglomerates. The Group has 28 businesses including nine listed Companies traded in NSE & BSE. Headquartered in Chennai, the major Companies of the Group include Carborundum Universal Ltd., Cholamandalam Investment and Finance Company Ltd., Cholamandalam MS General Insurance Company Ltd., Coromandel International Ltd., Coromandel Engineering Company Ltd., E.I.D. Parry (India) Ltd., Parry Agro Industries Ltd., Shanthi Gears Ltd., Tube Investments of India Ltd., TI Financial Holdings Ltd and Wendt (India) Ltd.
Market leaders in served segments including Abrasives, Auto Components, Transmission systems, Cycles, Sugar, Farm Inputs, Fertilisers, Plantations, Bio-products and Nutraceuticals, the Group has forged strong alliances with leading international companies such as Groupe Chimique Tunisien, Foskor, Mitsui Sumitomo, Morgan Advanced Materials, Sociedad Química y Minera de Chile (SQM),
Yanmar & Co. and Compagnie Des Phosphat De Gafsa (CPG). The Group has a wide geographical presence all over India and spanning 6 continents.
Renowned brands like BSA, Hercules, Montra, Mach City, Ballmaster, Ajax, Parry’s, Chola, Gromor, Shanthi Gears and Paramfos are from the Murugappa stable. The Group fosters an environment of professionalism and has a workforce of over 35,000 employees. For more details, visit www.murugappa.com