CholamandalamIFCL Net profit up by 49%

CholamandalamIFCL Net profit up by 49%

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Aggregate disbursements for the half year were at Rs. 13,914 Cr as against Rs. 10,345 Cr in the previous half year of FY18, registering a growth of 34%

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.

Highlights:

• Vehicle Finance business has clocked a volume of Rs. 11,207 Crs for the period ended September 2018 as against Rs. 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 Rs. 1,849 Crs as against Rs. 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

Q2 Performance

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:

GNPA, NNPA and Provision Coverage Ratio

Capital Adequacy:

The Capital Adequacy Ratio (CAR) of the company as on 30th September 2018, was at 18.34% as against the regulatory requirement of 15%.

 Subsidiaries Performance

Subsidiaries Performance:

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%.

About Chola

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.

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.