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Cholamandalam Investment & Finance Company

CHOLAFIN NSE
₹1,658.00 +8.00 (+0.48%)
P/E
24.45
View as Markdown
MCP
Close 4 Nov 2026 ₹1,658.00 −25.40 −1.51% 1Y
Start ₹1,683.40

Key Fundamentals

LargecapFinanceFinancial Services

Price-based figures as of · EPS basis: Consolidated · TTM

Debt to Equity
6.93
EPS (TTM)
₹67.80
Book Value
₹404.13
Market Cap
—
P/E (TTM)
24.45
P/B
4.10
ROE
19.40%
Dividend Yield
0.12%
52W High
₹1,952.50
52W Low
₹1,299.40
Day Range
₹1,639.50 – ₹1,672.70
Volume
7,00,521
ROCE
Not meaningful for a lender: the ratio describes an industrial company’s balance sheet
EBITDA
Not meaningful for a lender: the ratio describes an industrial company’s balance sheet

Peer Comparison

Financial Services › NBFC › Non Banking Financial Company (NBFC)

Cholamandalam Investment peer comparison
Bajaj Finance
₹994.0028.53₹6,11,015 Cr5.020.62%18.20%—₹90,331 Cr₹22,067 Cr
Shriram Finance
₹908.7515.19₹2,13,704 Cr1.920.73%16.40%—₹51,877 Cr₹12,688 Cr
Cholamandalam Investment (this company)
₹1,658.0024.45₹1,42,243 Cr4.100.12%19.40%—₹32,663 Cr₹5,751 Cr
Tata Capital
₹337.7526.24₹1,41,036 Cr2.930.17%12.40%—₹32,695 Cr₹5,478 Cr
Muthoot Finance
₹2,709.809.57₹1,04,354 Cr2.481.19%30.90%—₹33,431 Cr₹11,457 Cr
L&T Finance
₹263.7020.75₹63,912 Cr2.261.09%11.20%—₹18,898 Cr₹3,198 Cr
SBI Cards
₹553.0023.14₹52,160 Cr3.060.47%14.70%—₹20,063 Cr₹2,275 Cr
Median 7 companies₹908.7523.14₹1,41,036 Cr2.930.62%16.40%—₹32,695 Cr₹5,751 Cr

Comparable companies in the same industry. Market cap, P/E and P/B use the latest price; other metrics are as reported in filings. A dash means the figure is not published for that company.

Tapetide Score

Data-driven rating, 0–100, as of . How it works →

Overall score

44 Weak

Data confidence 94/100

Category scores

Quality
50
Average
Returns, margins, earnings quality 22% weight
Valuation
40
Weak
Cheap vs sector & own history 24% weight
Growth
68
Strong
Sales & profit trajectory 9% weight
Financial Health
29
Poor
Solvency, leverage, coverage 9% weight
Momentum
41
Weak
Trend strength, vol-adjusted 12% weight
Ownership
41
Weak
FII/DII/promoter flows 24% weight

The Tapetide Score is data analysis, not investment advice. Tapetide is not a SEBI-registered research analyst or investment adviser.

Key Insights

Strengths

2
  • Company has delivered good profit growth of 28.0% CAGR over last 5 years
  • Company's median sales growth is 21.4% of last 10 years

Weaknesses

3
  • Stock is trading at 4.09 times its book value
  • Company has low interest coverage ratio.
  • Company might be capitalizing the interest cost

Technical Indicators

Technical signals: verdict and indicator counts
GroupSignalBearishNeutralBullish
OverallNeutral838
OscillatorsNeutral333
Moving AveragesNeutral505

Key readings

RSI (14)
56.70
Neutral
MACD (12,26,9)
−16.74
Bullish
SMA (50)
1,688.85
Bearish
SMA (200)
1,666.14
Bearish

As of

Analyst Rating

Based on 33 analysts
BUY82%

27 of 33 analysts rate Buy, 5 Hold, 1 Sell.

As of

BUY
27
82%
HOLD
5
15%
SELL
1
3%

Growth Rate

From the financial statements below. 10Y, 5Y, 3Y: compound annual growth to Mar 2026; 1Y: fiscal year to Mar 2026 against Mar 2025; TTM: four quarters to Jun 2026 against Jun 2025.

Revenue

Revenue growth by window
10Y+22.13%
5Y+26.56%
3Y+34.17%
1Y+20.20%
TTM+19.64%

Net profit

Net profit growth by window
10Y+24.71%
5Y+28.03%
3Y+25.22%
1Y+22.75%
TTM+29.12%

Operating cash flow

Not meaningful

A bank's or NBFC's operating cash flow moves with deposits and loans, so its growth says little about the business.

Revenue by year

Revenue by year, ₹ crore
Mar 2017₹4,694 Cr
Mar 2018₹5,559 Cr
Mar 2019₹7,108 Cr
Mar 2020₹8,712 Cr
Mar 2021₹9,583 Cr
Mar 2022₹10,148 Cr
Mar 2023₹12,884 Cr
Mar 2024₹19,163 Cr
Mar 2025₹25,890 Cr
Mar 2026₹31,120 Cr

Net profit by year

Net profit by year, ₹ crore
Mar 2017₹718 Cr
Mar 2018₹918 Cr
Mar 2019₹1,197 Cr
Mar 2020₹1,054 Cr
Mar 2021₹1,521 Cr
Mar 2022₹2,154 Cr
Mar 2023₹2,665 Cr
Mar 2024₹3,420 Cr
Mar 2025₹4,263 Cr
Mar 2026₹5,233 Cr

Analyst Forecasts

Forecast For
FY27 consensus · EBITDA
₹12,840 Cr −40.7% vs FY26
Reported High Mean Low

AI Analysis — Bull vs Bear

Figures as of 2 Nov 2026
AI opinion · based on fundamentals
Risk medium

Cholamandalam Investment & Finance Company Ltd trades at ₹1,624.4 as of 2026-11-02 with a market cap of ₹1,37,415.86 crore, a trailing P/E of 23.96, and a P/B of 4.02. The company has compounded profits at 25% over the last 10 years and delivered an ROE of 17.17%, but the stock has declined 16% over the past one year and trades well below its 52-week high of ₹1,952.5.

Bull Case 7
  • Profit has compounded at 28% CAGR over the last 5 years, indicating strong and consistent earnings growth for a financial services company.
  • Revenue has compounded at 22% CAGR over the last 10 years, with median sales growth of 21.4% over that period, reflecting a durable business expansion track record.
  • TTM profit growth stands at 29%, showing that earnings momentum has actually accelerated beyond the longer-term trend.
  • ROE has averaged around 19-20% over 3, 5 and 10-year periods, with the current ROE at 17.17%, demonstrating consistent ability to generate returns on shareholder equity.
  • 10-year stock CAGR of 20% shows the company has rewarded long-term shareholders with meaningful capital appreciation over a full market cycle.
  • 3-year revenue CAGR of 34% suggests the company significantly accelerated its loan book growth in recent years, outpacing the broader NBFC sector.
  • The stock trades roughly 17% below its 52-week high of ₹1,952.5 and about 25% above its 52-week low of ₹1,299.4, sitting in the middle of its recent range rather than at stretched levels.
Bear Case 6
  • The company has a low interest coverage ratio, which for a lending business signals that the spread between borrowing costs and lending yields may be under pressure.
  • There are indications the company might be capitalizing interest costs, which could flatter reported profitability and overstate true earnings quality.
  • The stock has delivered a negative 1-year return of -16%, underperforming meaningfully even as TTM profits grew 29%, suggesting the market is repricing growth expectations downward.
  • TTM revenue growth of 20% has decelerated from the 3-year CAGR of 34%, pointing to a potential slowdown in loan book expansion.
  • Dividend yield stands at just 0.13%, providing virtually no income cushion for investors during periods of capital depreciation.
  • ROCE at 9.46% is notably lower than the ROE of 17.17%, reflecting the heavy leverage inherent in the NBFC model and the thin return on total capital deployed.

This is AI-generated analysis, not financial advice. Do your own due diligence.

AI News Digest

9h ago

TL;DR: Cholamandalam Investment is exploring a QIP capital raise, signaling intent to strengthen its balance sheet or fund growth — a constructive step for a financial services company. No material headwinds emerged in the latest news cycle. The KFin RTA relocation is procedural and unrelated to CHOLAFIN's operations. Near-term focus will be on the QIP outcome and how the fresh capital, if raised, is deployed.

Positives 1
  • Board considers QIP capital raise Oct 22

    Cholamandalam Investment board meeting scheduled for October 28, 2026 to consider raising capital via qualified institutions placement (QIP) under SEBI ICDR Regulations, 2018. Shareholder approval will be sought through a postal ballot.

Neutral 1
  • KFin RTA office relocation Nov 3

    KFin Technologies corporate office shifts to Kokapet, Telangana effective December 1, 2026. Mahindra EPC Irrigation investors asked to update records with the new address.

Quarterly Results

₹ Cr
CHOLAFIN quarterly results, ₹ crore
Particulars Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Revenue
4,100
4,623
5,007
5,410
5,812
6,255
6,733
7,046
7,267
7,491
7,898
8,417
8,856
Expenses
1,174
1,391
1,412
1,417
1,727
1,897
2,038
2,010
2,286
2,460
2,554
2,597
2,652
Financing Profit
920
1,028
1,155
1,414
1,289
1,300
1,420
1,671
1,512
1,514
1,698
2,067
2,197
Fin. Margin %
22%
22%
23%
26%
22%
21%
21%
24%
21%
20%
22%
25%
25%
Other Income
71
73
47
105
44.44
67.22
104
91.34
86.29
122
110
147
102
Interest
2,006
2,204
2,441
2,579
2,796
3,059
3,275
3,365
3,468
3,517
3,646
3,753
4,007
Depreciation
39
39
46
75
59
63
59
64
67
71
74
72
75
PBT
952
1,062
1,156
1,444
1,275
1,304
1,465
1,698
1,531
1,565
1,735
2,142
2,224
Tax %
25%
27%
25%
26%
26%
26%
26%
26%
26%
26%
26%
23%
26%
Net Profit
710
773
872
1,065
947
968
1,088
1,260
1,138
1,160
1,290
1,645
1,656
EPS (₹)
8.64
9.4
10.39
12.68
11.27
11.52
12.94
14.98
13.53
13.78
15.28
19.31
19.43

Profit & Loss

₹ Cr
CHOLAFIN profit and loss, annual, ₹ crore
Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Revenue
3,715
4,214
4,694
5,559
7,108
8,712
9,583
10,148
12,884
19,163
25,890
31,120
32,663
Expenses
1,061
1,266
1,322
1,451
1,632
2,421
2,858
2,926
3,621
5,385
7,670
9,890
10,264
Financing Profit
696
899
1,143
1,451
1,888
1,699
2,150
2,924
3,515
4,548
5,726
6,845
7,476
Fin. Margin %
19%
21%
24%
26%
27%
20%
22%
29%
27%
24%
22%
22%
23%
Other Income
0
2
3
0
1
0
0
84
220
255
261
412
484
Interest
1,958
2,048
2,228
2,657
3,588
4,592
4,576
4,298
5,748
9,231
12,495
14,384
14,923
Depreciation
30
22
39
51
57
111
102
101
121
198
245
284
292
PBT
666
879
1,107
1,401
1,832
1,588
2,048
2,908
3,615
4,605
5,741
6,973
7,668
Tax %
33%
35%
35%
34%
35%
34%
26%
26%
26%
26%
26%
25%
—
Net Profit
444
575
718
918
1,197
1,054
1,521
2,154
2,665
3,420
4,263
5,233
5,751
EPS (₹)
6.18
7.36
9.21
11.76
15.32
12.86
18.55
26.23
32.42
40.72
50.69
61.41
67.8
Div. Payout %
11%
12%
12%
11%
8%
13%
11%
8%
6%
5%
4%
3%
—

Balance Sheet

₹ Cr
CHOLAFIN balance sheet, annual, ₹ crore
Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital
144
156
156
156
156
164
164
164
164
168
168
170
Reserves
2,531
3,514
4,142
4,969
6,052
8,036
9,436
11,605
14,182
19,425
23,500
30,288
Borrowing
19,950
22,546
24,071
38,330
50,567
55,005
63,730
69,174
97,358
1,34,475
1,75,036
2,11,070
Other Liabilities
1,243
1,673
2,230
711
715
853
1,314
1,536
1,923
2,618
3,182
3,920
Total Liabilities
23,868
27,889
30,598
44,167
57,490
64,058
74,644
82,478
1,13,627
1,56,686
2,01,887
2,45,448
Fixed Assets
69
120
150
170
167
283
228
259
403
1,563
1,780
1,869
CWIP
0
0
0
4
14
11
10
37
60
13
11
42
Investments
25
16
182
23
42
33
1,583
2,055
3,562
4,036
6,367
6,646
Other Assets
23,775
27,753
30,266
43,970
57,267
63,732
72,823
80,127
1,09,602
1,51,075
1,93,729
2,36,892
Total Assets
23,868
27,889
30,598
44,167
57,490
64,058
74,644
82,478
1,13,627
1,56,686
2,01,887
2,45,448

Cash Flow

₹ Cr
CHOLAFIN cash flow, annual, ₹ crore
Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating
−2,264
−2,809
−1,468
−7,926
−9,317
−2,075
−8,842
−5,571
−27,105
−35,683
−32,413
−30,021
Investing
−40
−137
−222
−60
−11
−54
−1,572
1,640
−2,148
−2,855
−2,948
−2,554
Financing
1,819
3,031
1,692
8,009
12,191
2,452
8,516
5,150
27,466
38,471
39,795
35,610
Net Cash Flow
−485
85
2
22
2,862
323
−1,898
1,218
−1,787
−66
4,434
3,035
Free Cash Flow
−2,294
−2,885
−1,525
−7,994
−9,391
−2,145
−8,873
−5,665
−27,293
−36,754
−32,600
−30,263

Ratios

CHOLAFIN financial ratios, annual
Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
ROE %
18%
18%
18%
20%
21%
15%
17%
20%
20%
20%
20%
19%

Insights

Beta

AI-extracted from concalls & annual reports · figures as reported, with sources

Log in to view Cholamandalam Investment insights

49 extracted metrics across FY11–FY27.

Shareholding Pattern

As of Sep 2026

  • Promoters 48.93%
  • FIIs 24.87%
  • DIIs 20.38%
  • Public 4.49%
  • Others 1.34%

No promoter shares pledged as of Sep 2026

Change vs previous quarter

Not shown for some quarters: Others. Not available separately for this quarter: the shareholding filing gives Public and Others as one figure, shown under Public, so Others is left blank rather than estimated.

Documents

Frequently Asked Questions about Cholamandalam Investment & Finance Company

What does Cholamandalam Investment & Finance Company Ltd do?
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.
Where is Cholamandalam Investment & Finance Company Ltd (CHOLAFIN) listed?
Cholamandalam Investment & Finance Company Ltd trades as CHOLAFIN on the NSE and under code 511243 on the BSE.
Which sector does Cholamandalam Investment & Finance Company Ltd belong to?
Cholamandalam Investment & Finance Company Ltd is classified under the Financial Services sector, in the NBFC industry.
What is the PE ratio of Cholamandalam Investment & Finance Company Ltd?
Cholamandalam Investment & Finance Company Ltd trades at a PE ratio of 24.45 as of 4 Nov 2026, on earnings per share of ₹67.8, against a book value of ₹404.13 per share.
What is the 52-week high and low of Cholamandalam Investment & Finance Company Ltd?
Over the last 52 weeks Cholamandalam Investment & Finance Company Ltd has traded between ₹1,299.4 and ₹1,952.5 as of 4 Nov 2026.
Does Cholamandalam Investment & Finance Company Ltd pay dividends?
Cholamandalam Investment & Finance Company Ltd has a dividend yield of 0.12%.
What is the Return on Equity (ROE) of Cholamandalam Investment & Finance Company Ltd?
Cholamandalam Investment & Finance Company Ltd reported a return on equity of 19.40%. Its debt-to-equity ratio is 6.93.

Company Information

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.

Website cholamandalam.com
CEO Mr. Murugappan Vellayan Subbiah
Employees 45,194
Listed 15 May 1996
Face Value ₹2

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