Cholamandalam Investment & Finance Co. Ltd. Report

Chennai, July 29th, 2024: The Board of Directors of CIFCL approved the unaudited financial results for the quarter ended 30th June 2024.

Performance Highlights:

• Aggregate disbursements in Q1 FY 25 were at ₹ 24,332 Cr as against ₹ 20,015 Cr in Q1 FY 24 with a growth of 22%.
• Vehicle Finance (VF) disbursements were at ₹ 12,766 Cr in Q1 FY 25 as against ₹ 11,301 Cr in Q1 FY24, registering a growth of 13%.
• Loan Against Property (LAP) business disbursed ₹ 3,874 Cr in Q1 FY 25, as against ₹ 2,679 Cr in Q1 FY24, with a growth rate of 45%.
• Home Loan business disbursed ₹ 1,778 Cr in Q1 FY 25, as against ₹ 1,454 Cr in Q1 FY24 registering a growth of 22%.
• Small and Medium Enterprises Loan (SME) business disbursed ₹ 2,160 Cr in Q1 FY 25, registering 6% growth over ₹ 2,045 Cr in Q1 FY24.
• Consumer and Small Enterprise Loans (CSEL) disbursed ₹ 3,486 Cr in Q1 FY 25, as against ₹ 2,355 Cr in Q1 FY24 registering a growth of 48%.
• Secured Business and Personal Loan (SBPL) disbursed ₹ 268 Cr in Q1 FY 25, as against ₹ 182 Cr in Q1 FY24 registering a growth of 48%.
• Assets under management as of 30th June 2024, stood at ₹ 1,68,832 Cr as compared to ₹ 1,22,755 Cr as of 30th June 2023, clocking a growth of 38% Y-O-Y.
• PBT for Q1 FY 25 was at ₹ 1,268 Cr, registering a growth of 31% over Q1 of FY 24.
• PBT-ROA for Q1 FY 25 was at 3.2%.
• ROE for Q1 FY 25 was at 18.9%.
• The Company continues to hold a strong liquidity position with ₹ 14,324 Cr as cash balance as of the end of Jun’2024 (including Rs 1,551 Cr in Gsec / Rs 1,606 Cr TBill & Rs 611 Cr in Strips shown under investments), with a total liquidity position of ₹ 14,767 Cr (including undrawn sanctioned lines). The ALM is comfortable with no negative cumulative mismatches across all time buckets as per Regulatory norms.
• Consolidated Profit Before Tax (PBT) for Q1 FY 25 was at ₹ 1,275 Cr as against ₹ 956 Cr in Q1 FY 24 registering a growth of 33%.

Asset Quality:

Stage 3 levels representing 90+ dues increased to 2.62% as of June 24 from 2.48% as of the end of March 24. GNPA % as per RBI norms increased to 3.62% as of June 24 as against 3.54% on March 24. NNPA as per RBI norms has also increased to 2.37% as of June 24 against 2.32% on March 24. NNPA is below the threshold of 6% prescribed by RBI as the threshold for PCA.

Capital Adequacy:

The Capital Adequacy Ratio (CAR) of the company as of 30th June 2024, was at 18.03% as against the regulatory requirement of 15%. Tier-I Capital was at 14.76% (Common Equity Tier-I Capital at 13.63% as against a regulatory minimum of 9%) and Tier-II Capital was at 3.27%.