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Cholamandalam Financial Holdings

CHOLAHLDNG NSE
₹1,374.80 −25.50 (−1.82%)
P/E
9.67
View as Markdown
MCP
Close 4 Nov 2026 ₹1,374.80 −597.80 −30.3% 1Y
Start ₹1,972.60

Key Fundamentals

SmallcapFinanceFinancial Services

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

Debt to Equity
13.61
EPS (TTM)
₹142.12
Book Value
₹822.62
Market Cap
—
P/E (TTM)
9.67
P/B
1.67
ROE
17.50%
Dividend Yield
0.09%
52W High
₹2,064.00
52W Low
₹1,236.70
Day Range
₹1,371.20 – ₹1,414.90
Volume
84,972
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 › Investment Company

Cholamandalam Financial Holdings peer comparison
Jio Financial
₹222.2784.51₹1,43,288 Cr1.160.28%1.19%1.86%₹5,623 Cr₹1,711 Cr
Aditya Birla Capital
₹379.9525.26₹1,05,060 Cr2.440.00%12.00%—₹48,186 Cr₹4,119 Cr
Tata Investment Corporation
₹564.5066.26₹28,326 Cr0.920.61%1.44%1.57%₹404 Cr₹431 Cr
Cholamandalam Financial Holdings (this company)
₹1,374.809.67₹26,343 Cr1.670.09%17.50%—₹40,890 Cr₹6,015 Cr
TVS Holdings
₹12,237.0012.55₹24,865 Cr3.700.69%30.60%17.00%₹62,488 Cr₹3,888 Cr
Maharashtra Scooters
₹11,775.0048.32₹13,738 Cr0.421.32%1.06%1.06%₹289 Cr₹279 Cr
JSW Holdings
₹10,942.0088.41₹12,133 Cr0.340.00%0.46%0.59%₹184 Cr₹138 Cr
Median 7 companies₹1,374.8048.32₹26,343 Cr1.160.28%1.44%1.57%₹5,623 Cr₹1,711 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

50 Average

Data confidence 94/100

Category scores

Quality
59
Good
Returns, margins, earnings quality 22% weight
Valuation
56
Good
Cheap vs sector & own history 24% weight
Growth
62
Good
Sales & profit trajectory 9% weight
Financial Health
29
Poor
Solvency, leverage, coverage 9% weight
Momentum
12
Poor
Trend strength, vol-adjusted 12% weight
Ownership
52
Average
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

1
  • Company has delivered good profit growth of 24.3% CAGR over last 5 years

Weaknesses

1
  • Company has low interest coverage ratio.

Technical Indicators

Technical signals: verdict and indicator counts
GroupSignalBearishNeutralBullish
OverallBearish847
OscillatorsBullish243
Moving AveragesStrong Bearish604

Key readings

RSI (14)
49.57
Neutral
MACD (12,26,9)
−18.87
Bullish
SMA (50)
1,430.49
Bearish
SMA (200)
1,557.75
Bearish

As of

Analyst Rating

Based on 2 analysts
BUY100%

2 of 2 analysts rate Buy, 0 Hold, 0 Sell.

As of

BUY
2
100%
HOLD
0
0%
SELL
0
0%

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+17.21%
5Y+23.01%
3Y+29.20%
1Y+17.95%
TTM+17.54%

Net profit

Net profit growth by window
10Y+16.60%
5Y+25.47%
3Y+24.98%
1Y+15.72%
TTM+24.28%

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₹2,688 Cr
Mar 2018₹8,909 Cr
Mar 2019₹10,926 Cr
Mar 2020₹13,135 Cr
Mar 2021₹13,900 Cr
Mar 2022₹14,644 Cr
Mar 2023₹18,154 Cr
Mar 2024₹25,830 Cr
Mar 2025₹33,196 Cr
Mar 2026₹39,156 Cr

Net profit by year

Net profit by year, ₹ crore
Mar 2017₹538 Cr
Mar 2018₹1,127 Cr
Mar 2019₹1,415 Cr
Mar 2020₹1,165 Cr
Mar 2021₹1,764 Cr
Mar 2022₹2,239 Cr
Mar 2023₹2,810 Cr
Mar 2024₹3,851 Cr
Mar 2025₹4,740 Cr
Mar 2026₹5,485 Cr

Analyst Forecasts

Forecast For
FY27 consensus · EPS
₹158.00 +21.5% 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 Financial Holdings Ltd trades at ₹1,401.7 as of 2026-11-02 with a market cap of ₹25,746 crore, a trailing PE of 9.86 and a price-to-book of 1.70. The company has compounded profits at 24% CAGR over five years while the stock has declined 36% over the past one year, creating a divergence between operating performance and market pricing.

Bull Case 6
  • Strong long-term profit growth: compounded profit CAGR stands at 24% over both 3-year and 5-year periods, indicating sustained earnings momentum
  • Healthy sales trajectory: compounded sales growth of 23% over five years and 29% over three years demonstrates the underlying businesses are scaling revenue at a robust pace
  • Consistent return ratios: ROE has averaged 18% over ten years and 19% over three years, reflecting disciplined capital allocation across subsidiaries
  • Current-year earnings growth intact: TTM profit growth of 21% shows the earnings engine continues to deliver even in the recent period
  • Price-to-book of 1.70 paired with a 16.17% ROE suggests the stock is not trading at an excessive premium relative to the returns it generates on equity
  • Decade-long track record: 10-year compounded profit growth of 15% and sales growth of 17% point to a business model that has performed through multiple economic cycles
Bear Case 8
  • Low interest coverage ratio indicates that a significant portion of earnings is consumed by interest obligations, raising vulnerability in a rising-rate or stress scenario
  • Sharp stock underperformance: 1-year stock CAGR of -36% signals sustained negative sentiment and possible structural concerns the market is pricing in
  • Holding company discount risk: as a financial holding entity rather than an operating company, valuations can remain compressed for extended periods regardless of subsidiary performance
  • Negligible dividend yield of just 0.1% offers virtually no income cushion, meaning returns depend almost entirely on capital appreciation
  • ROCE of 9.5% is modest for a financial-services group, suggesting that return on total capital employed — including debt — is not particularly high
  • TTM sales growth has decelerated to 18% from the 3-year CAGR of 29%, hinting at a possible slowdown in the top-line expansion trajectory
  • Last-year ROE of 17% dipped below the 3-year average of 19%, indicating a recent softening in return efficiency
  • Long-term stock CAGR of 11% over ten years lags the profit CAGR of 15% over the same period, suggesting persistent valuation compression over time

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

AI News Digest

52d ago

TL;DR: Limited recent news flow for Cholamandalam Financial Holdings. The company conducted routine corporate governance via its 77th AGM with standard approvals on financials, dividend, and management appointments. No material headwinds or bullish catalysts surfaced in the latest coverage, leaving the near-term outlook largely dependent on broader financial services sector trends.

Neutral 1
  • 77th AGM held, dividend approved Aug 15

    Cholamandalam Financial Holdings held its 77th AGM on August 14, 2026. Shareholders approved FY26 financials, final dividend, and key management appointments.

Quarterly Results

₹ Cr
CHOLAHLDNG quarterly results, ₹ crore
Particulars Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Revenue
5,626
6,317
6,795
7,066
7,633
8,090
8,489
8,913
9,296
9,461
9,949
10,366
11,114
Expenses
2,588
2,898
2,978
2,932
3,253
3,537
3,772
3,709
4,142
4,359
4,487
4,541
4,721
Financing Profit
1,025
1,210
1,371
1,552
1,584
1,496
1,438
1,843
1,687
1,585
1,814
2,070
2,385
Fin. Margin %
18%
19%
20%
22%
21%
18%
17%
21%
18%
17%
18%
20%
21%
Other Income
89
55
47.36
110
45
89.99
104
95.99
88
128
137
153
101
Interest
2,013
2,209
2,445
2,582
2,796
3,058
3,280
3,361
3,468
3,518
3,648
3,755
4,007
Depreciation
52
52
55
88
70
74
72
79
79
83
87
84
87
PBT
1,062
1,213
1,363
1,574
1,559
1,512
1,469
1,860
1,696
1,630
1,863
2,140
2,398
Tax %
25%
27%
25%
27%
26%
26%
26%
27%
26%
26%
26%
24%
25%
Net Profit
792
888
1,027
1,144
1,160
1,125
1,093
1,362
1,260
1,214
1,386
1,626
1,789
EPS (₹)
19.78
22.41
24.88
27.32
29.2
27.99
25.89
32.68
30.81
29.29
33.32
36.59
42.92

Profit & Loss

₹ Cr
CHOLAHLDNG profit and loss, annual, ₹ crore
Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Revenue
9,696
8,004
2,688
8,909
10,926
13,135
13,900
14,644
18,154
25,830
33,196
39,156
40,890
Expenses
6,542
7,029
2,377
4,490
5,147
6,588
6,807
7,210
8,597
11,389
14,269
17,523
18,109
Financing Profit
1,051
−1
311
1,764
2,192
1,954
2,485
3,106
3,780
5,191
6,433
7,244
7,854
Fin. Margin %
11%
0%
12%
20%
20%
15%
18%
21%
21%
20%
19%
18%
19%
Other Income
123
1,538
1
0
21
1
60
92
221
256
262
414
525
Interest
2,103
976
0
2,655
3,587
4,592
4,608
4,328
5,778
9,249
12,494
14,388
14,928
Depreciation
171
163
17
70
78
150
145
154
176
248
296
333
341
PBT
1,003
1,374
295
1,695
2,135
1,806
2,400
3,044
3,824
5,200
6,400
7,326
8,037
Tax %
32%
27%
30%
34%
34%
36%
27%
26%
26%
26%
26%
25%
—
Net Profit
684
1,181
538
1,127
1,415
1,165
1,764
2,239
2,810
3,851
4,740
5,485
6,015
EPS (₹)
22.68
55.47
24.26
29.32
37.12
29.34
43.93
54.49
68.71
94.39
116
130
142
Div. Payout %
9%
9%
1%
4%
3%
2%
1%
1%
1%
1%
1%
1%
—

Balance Sheet

₹ Cr
CHOLAHLDNG balance sheet, annual, ₹ crore
Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital
37
37
19
19
19
19
19
19
19
19
19
19
Reserves
2,290
3,287
2,745
3,291
3,925
4,572
5,367
6,427
7,642
10,223
12,496
15,435
Borrowing
21,431
1,441
0
38,200
50,447
55,117
63,797
69,229
97,191
1,34,014
1,74,366
2,10,400
Other Liabilities
6,579
4,900
5,129
11,897
13,546
16,147
19,432
22,097
26,181
32,662
37,732
42,476
Total Liabilities
30,338
9,665
7,892
53,407
67,937
75,855
88,616
97,771
1,31,033
1,76,917
2,24,614
2,68,331
Fixed Assets
1,521
1,336
102
311
306
479
447
464
623
1,784
2,029
2,209
CWIP
40
56
0
4
14
11
10
40
60
35
54
97
Investments
2,665
5,141
6,536
6,211
7,552
8,893
11,678
13,282
17,536
20,058
24,271
24,968
Other Assets
26,112
3,131
1,254
46,881
60,065
66,472
76,481
83,984
1,12,813
1,55,041
1,98,260
2,41,056
Total Assets
30,338
9,665
7,892
53,407
67,937
75,855
88,616
97,771
1,31,033
1,76,917
2,24,614
2,68,331

Cash Flow

₹ Cr
CHOLAHLDNG cash flow, annual, ₹ crore
Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating
−1,685
−500
594
−6,302
−9,274
−1,914
−9,719
−5,738
−29,329
−35,726
−34,201
−30,033
Investing
−461
193
−1,263
−1,825
−94
−96
−62
−135
295
−2,625
−1,038
−2,528
Financing
1,704
748
−69
8,287
12,171
2,427
7,688
7,073
27,288
38,269
39,652
35,650
Net Cash Flow
−443
441
−738
160
2,803
417
−2,093
1,199
−1,746
−82
4,413
3,089
Free Cash Flow
−1,822
−674
568
−6,391
−9,367
−2,011
−9,781
−5,874
−29,586
−36,887
−34,528
−30,365

Ratios

CHOLAHLDNG financial ratios, annual
Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
ROE %
19%
21%
15%
18%
19%
13%
17%
17%
18%
20%
19%
17%

Insights

Beta

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

Log in to view Cholamandalam Financial Holdings insights

60 extracted metrics across FY11–FY27.

Shareholding Pattern

As of Sep 2026

  • Promoters 46.39%
  • DIIs 27.77%
  • FIIs 12.56%
  • Public 9.38%
  • Others 3.44%
  • Government 0.46%

0.02% of promoter holding 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 Financial Holdings

What does Cholamandalam Financial Holdings Ltd do?
Cholamandalam Financial Holdings Ltd, part of the Murugappa Group, is an RBI-registered Core Investment Company with interests in lending, general insurance, and risk-management services.
Where is Cholamandalam Financial Holdings Ltd (CHOLAHLDNG) listed?
Cholamandalam Financial Holdings Ltd trades as CHOLAHLDNG on the NSE and under code 504973 on the BSE.
Which sector does Cholamandalam Financial Holdings Ltd belong to?
Cholamandalam Financial Holdings Ltd is classified under the Financial Services sector, in the Investment Company industry.
What is the PE ratio of Cholamandalam Financial Holdings Ltd?
Cholamandalam Financial Holdings Ltd trades at a PE ratio of 9.67 as of 4 Nov 2026, on earnings per share of ₹142.12, against a book value of ₹822.62 per share.
What is the 52-week high and low of Cholamandalam Financial Holdings Ltd?
Over the last 52 weeks Cholamandalam Financial Holdings Ltd has traded between ₹1,236.7 and ₹2,064 as of 4 Nov 2026.
Does Cholamandalam Financial Holdings Ltd pay dividends?
Cholamandalam Financial Holdings Ltd has a dividend yield of 0.09%.
What is the Return on Equity (ROE) of Cholamandalam Financial Holdings Ltd?
Cholamandalam Financial Holdings Ltd reported a return on equity of 17.50%. Its debt-to-equity ratio is 13.61.

Company Information

Cholamandalam Financial Holdings Ltd, part of the Murugappa Group, is an RBI-registered Core Investment Company with interests in lending, general insurance, and risk-management services.

Website cholafhl.com
CEO Mr. N. Ganesh
Employees 48,434
Listed 25 Sep 2017
Face Value ₹1

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