Cholamandalam Investment and Finance Company Ltd.

CHOLAFINFinancial Services filings

We hold this company’s filings and have not read the financial statements out of them yet. Every filing on record is listed under filings, and each one opens.

Earnings calls

6 transcript(s)/analyst meet(s) served; 7 document(s) on file are not transcripts (cover letters, duplicates, unresolved) and are excluded. Speaker attribution is shown only where the segmenter attributes ≥ 95% of sentences to management or analysts (0 of 6 documents here); elsewhere sentences render unattributed.

Kind	Date	Period	Served
COVER_LETTER	20230510	2023-03-31	no
COVER_LETTER	20240202	2023-12-31	no
COVER_LETTER	20240508	2024-03-31	no
COVER_LETTER	20240802	2024-06-30	no
COVER_LETTER	20241104	2024-09-30	no
DUPLICATE	20241104	2024-09-30	no
TRANSCRIPT	20250206	2024-12-31	yes
COVER_LETTER	20250808	2025-06-30	no
TRANSCRIPT	20251114	2025-09-30	yes
TRANSCRIPT	20251230	2025-09-30	yes
TRANSCRIPT	20260511	2026-03-31	yes
TRANSCRIPT	20260804	2026-06-30	yes

CHOLAFIN

files as a non-banking financial company. Every figure below opens to the filing it was read from; where a figure is not shown, the reason is printed in its place.

Identity


Statement division	nbfc
Scope served	consolidated
Panels on this page	4

Market

The closes are adjusted for every split and bonus on record inside the period this series covers, and each adjustment is checked against the price move on its ex-date.


Last close	1,681.70
52-week range	1354.7 – 1940.0
Return 1M	-10.21%
Return 3M	-6.53%
Return 1Y	3.16%
Return 3Y	42.14%
Return 5Y	191.91%
Market capitalisation	not shown — we could not confirm it
Shares outstanding	not shown — we could not confirm it
P/E	not shown — we could not confirm it
P/B	not shown — we could not confirm it
EV/EBITDA	not shown — we could not confirm it

Latest quarter filed — period ending 2026-06-30

In INR crore except per-share figures. `period_id` is the period the filing names for the number; the date beside each cell is when it was filed.


Revenue from operations	8,856.00
Other income	100.00
Total income	8,957.00
Cost of materials consumed	0.00
Purchases of stock-in-trade	0.00
Changes in inventories	0.00
Employee benefit expense	1,149.00
Finance costs	4,007.00

Ownership — 2026-06-30, and the change from 2026-03-31

Holder	Per cent	Change
promoter and promoter group	0.49	-0.00
institutions foreign	0.24	-0.00
institutions domestic	0.21	0.01
mutual funds	0.15	0.00
public	0.51	0.00

Documents on file

Class	Most recent	On file
COVER_LETTER	2025-06-30	6
DUPLICATE	2024-09-30	1
TRANSCRIPT	2026-06-30	5

Financial statements

Filed results, consolidated, in INR crore except per-share figures. Every figure opens to the filing it was read from. Quarterly and annual columns are the periods the filing itself names, never a document date.

Quarterly results, as filed

Line	2022-09-30	2022-12-31	2023-03-31	2023-06-30	2023-09-30	2023-12-31	2024-03-31	2024-06-30	2024-09-30	2024-12-31	2025-03-31	2025-06-30	2025-09-30	2025-12-31	2026-03-31	2026-06-30
Revenue from operations	3,017.00	3,356.00	3,741.00	4,082.00	4,623.00	5,007.00	5,428.00	5,812.00	6,255.00	6,733.00	7,046.00	7,267.00	7,491.00	7,898.00	8,417.00	8,856.00
Other income	50.00	52.00	93.00	89.00	73.00	47.00	72.00	44.00	67.00	104.00	91.00	86.00	122.00	110.00	147.00	100.00
Total income	3,067.00	3,408.00	3,835.00	4,171.00	4,695.00	5,055.00	5,499.00	5,857.00	6,322.00	6,837.00	7,137.00	7,353.00	7,613.00	8,009.00	8,564.00	8,957.00
Cost of materials consumed	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Purchases of stock-in-trade	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Changes in inventories	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Employee benefit expense	312.00	373.00	410.00	371.00	637.00	695.00	775.00	694.00	806.00	893.00	934.00	936.00	1,073.00	1,094.00	1,092.00	1,149.00
Finance costs	1,340.00	1,543.00	1,734.00	2,006.00	2,204.00	2,441.00	2,579.00	2,796.00	3,059.00	3,275.00	3,365.00	3,468.00	3,517.00	3,646.00	3,753.00	4,007.00
Depreciation and amortisation	28.00	30.00	36.00	39.00	39.00	46.00	75.00	59.00	63.00	59.00	64.00	67.00	71.00	74.00	72.00	75.00
Other expenses	347.00	377.00	378.00	427.00	350.00	358.00	455.00	451.00	467.00	481.00	451.00	468.00	490.00	550.00	658.00	581.00
Total expenses	2,305.00	2,482.00	2,672.00	3,215.00	3,630.00	3,898.00	4,071.00	4,582.00	5,018.00	5,372.00	5,439.00	5,822.00	6,049.00	6,274.00	6,422.00	6,735.00
Profit before exceptional items and tax	762.00	926.00	1,163.00	956.00	1,065.00	1,156.00	1,428.00	1,275.00	1,304.00	1,465.00	1,698.00	1,531.00	1,565.00	1,735.00	2,142.00	2,222.00
Exceptional items	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Profit before tax	762.00	926.00	1,163.00	956.00	1,065.00	1,156.00	1,428.00	1,275.00	1,304.00	1,465.00	1,698.00	1,531.00	1,565.00	1,735.00	2,142.00	2,222.00
Current tax	163.00	243.00	236.00	274.00	323.00	362.00	263.00	357.00	386.00	471.00	512.00	441.00	457.00	549.00	567.00	653.00
Deferred tax	33.00	-5.00	71.00	-31.00	-34.00	-77.00	116.00	-29.00	-49.00	-94.00	-73.00	-47.00	-51.00	-104.00	-69.00	-85.00
Tax expense	196.00	238.00	307.00	242.00	289.00	284.00	379.00	328.00	337.00	377.00	439.00	394.00	406.00	446.00	498.00	567.00
Profit for the period	563.00	685.00	855.00	710.00	773.00	872.00	1,065.00	947.00	968.00	1,088.00	1,260.00	1,138.00	1,160.00	1,290.00	1,645.00	1,656.00
Profit attributable to owners	566.00	685.00	—	703.00	773.00	872.00	1,065.00	947.00	968.00	1,088.00	1,260.00	1,138.00	—	1,290.00	1,645.00	1,656.00
Profit attributable to non-controlling interests	0.00	0.00	—	0.00	0.00	0.00	—	0.00	0.00	0.00	0.00	0.00	0.00	0.00	—	0.00
Other comprehensive income	20.00	-14.00	-0.00	-7.00	0.00	-46.00	-17.00	-1.00	-92.00	101.00	-149.00	-80.00	47.00	38.00	167.00	-25.00
Total comprehensive income	583.00	671.00	855.00	703.00	773.00	826.00	1,048.00	946.00	876.00	1,189.00	1,111.00	1,058.00	1,207.00	1,328.00	1,813.00	1,631.00
Earnings per share, basic	6.85	8.34	10.40	8.64	9.40	10.40	12.68	11.27	11.52	12.95	14.98	13.53	13.78	15.29	19.33	19.43
Earnings per share, diluted	6.84	8.32	10.39	8.62	9.37	10.37	12.65	11.25	11.49	12.91	14.94	13.50	13.75	15.25	19.28	19.40
Interest earned	2,829.00	3,142.00	3,499.00	3,851.00	4,223.00	4,616.00	4,938.00	5,375.00	5,776.00	6,167.00	6,424.00	6,656.00	6,901.00	7,232.00	7,613.00	8,048.00
Fees and commission income	152.00	175.00	196.00	192.00	356.00	365.00	429.00	405.00	431.00	439.00	470.00	434.00	489.00	546.00	645.00	594.00
Net gain on fair value changes	15.00	18.00	28.00	29.00	33.00	23.00	60.00	32.00	46.00	62.00	57.00	29.00	23.00	17.00	42.00	50.00
Dividend income	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Rental income	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00

Annual results, as filed

Line	2020-03-31	2021-03-31	2022-03-31	2023-03-31	2024-03-31	2025-03-31	2026-03-31
Revenue from operations	8,712.00	9,579.00	10,141.00	12,884.00	19,140.00	25,846.00	31,073.00
Other income	1.00	4.00	91.00	221.00	280.00	307.00	466.00
Total income	8,713.00	9,584.00	10,232.00	13,106.00	19,420.00	26,153.00	31,539.00
Cost of materials consumed	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Purchases of stock-in-trade	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Changes in inventories	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Employee benefit expense	700.00	792.00	957.00	1,360.00	2,479.00	3,328.00	4,195.00
Finance costs	4,592.00	4,576.00	4,298.00	5,748.00	9,231.00	12,495.00	14,384.00
Depreciation and amortisation	111.00	102.00	101.00	121.00	198.00	245.00	284.00
Other expenses	824.00	744.00	1,088.00	1,412.00	1,590.00	1,850.00	2,166.00
Total expenses	7,124.00	7,536.00	7,324.00	9,491.00	14,815.00	20,411.00	24,566.00
Profit before exceptional items and tax	1,588.00	2,048.00	2,908.00	3,615.00	4,605.00	5,741.00	6,973.00
Exceptional items	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Profit before tax	1,588.00	2,048.00	2,908.00	3,615.00	4,605.00	5,741.00	6,973.00
Current tax	568.00	757.00	695.00	886.00	1,222.00	1,727.00	2,014.00
Deferred tax	-34.00	-231.00	54.00	52.00	-27.00	-245.00	-270.00
Tax expense	534.00	527.00	749.00	938.00	1,195.00	1,481.00	1,744.00
Profit for the period	1,054.00	1,521.00	2,154.00	2,665.00	3,420.00	4,263.00	5,233.00
Profit attributable to owners	—	—	0.00	—	3,420.00	4,263.00	5,233.00
Profit attributable to non-controlling interests	—	—	0.00	—	—	0.00	—
Other comprehensive income	-70.00	-29.00	136.00	24.00	-71.00	-141.00	172.00
Total comprehensive income	984.00	1,492.00	2,290.00	2,689.00	3,349.00	4,122.00	5,405.00
Earnings per share, basic	13.39	18.55	26.24	32.44	41.17	50.72	61.98
Earnings per share, diluted	13.37	18.52	26.19	32.38	41.06	50.60	61.83
Interest earned	8,125.00	9,225.00	9,567.00	12,083.00	17,627.00	23,748.00	28,403.00
Fees and commission income	249.00	269.00	473.00	651.00	1,342.00	1,739.00	2,114.00
Net gain on fair value changes	16.00	5.00	16.00	70.00	146.00	197.00	111.00
Dividend income	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Rental income	0.00	0.00	0.00	0.00	0.00	0.00	0.00

Balance sheet, as filed

Line	2022-09-30	2023-03-31	2023-09-30	2024-03-31	2024-09-30	2025-03-31	2025-09-30	2026-03-31
Total assets	93,653.00	113,627.00	137,588.00	156,686.00	181,945.00	201,887.00	216,746.00	245,448.00
Property, plant and equipment	270.00	375.00	457.00	1,539.00	1,635.00	1,754.00	1,875.00	1,839.00
Capital work-in-progress	30.00	36.00	0.00	0.00	0.00	4.00	9.00	28.00
Goodwill	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Other intangible assets	17.00	28.00	21.00	24.00	20.00	26.00	28.00	29.00
Inventories	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Cash and cash equivalents	1,896.00	912.00	4,956.00	846.00	4,545.00	5,280.00	5,721.00	8,315.00
Total equity and liabilities	93,653.00	113,627.00	137,588.00	156,686.00	181,945.00	201,887.00	216,746.00	245,448.00
Equity	12,900.00	14,346.00	15,807.00	19,593.00	21,411.00	23,669.00	25,942.00	30,458.00
Equity share capital	164.00	164.00	165.00	168.00	168.00	168.00	168.00	170.00
Other equity	12,736.00	14,182.00	15,643.00	19,425.00	21,243.00	23,500.00	25,774.00	30,288.00
Total liabilities	80,753.00	—	—	—	—	178,218.00	190,804.00	214,990.00

Cash flow, as filed

Line	2022-09-30	2023-03-31	2023-09-30	2024-03-31	2024-09-30	2025-03-31	2025-09-30	2026-03-31
Net cash from operating activities	-9,885.00	-27,105.00	-17,088.00	-35,683.00	-17,390.00	-32,413.00	-10,319.00	-30,021.00
Net cash from investing activities	-525.00	-2,148.00	-783.00	-2,855.00	-2,307.00	-2,948.00	-1,341.00	-2,554.00
Net cash from financing activities	9,607.00	27,466.00	21,915.00	38,471.00	23,396.00	39,795.00	12,101.00	35,610.00
Purchase of property, plant and equipment	49.00	143.00	110.00	1,076.00	71.00	200.00	156.00	265.00
Net increase in cash	-803.00	-1,787.00	4,044.00	-66.00	3,699.00	4,434.00	442.00	3,035.00
con:CFO.BEFORE_TAX	-7,577.00	-21,185.00	-12,478.00	-26,074.00	-11,179.00	-21,556.00	-6,048.00	-14,826.00
con:INTEREST_RECEIVED.OPERATING	116.00	0.00	190.00	444.00	0.00	661.00	387.00	814.00
con:INTEREST_PAID.OPERATING	2,048.00	5,280.00	4,087.00	8,745.00	5,736.00	11,977.00	7,132.00	14,228.00
con:DIVIDENDS_RECEIVED.OPERATING	0.00	262.00	0.00	0.00	295.00	0.00	0.00	0.00
con:TAX_PAID.OPERATING	375.00	903.00	713.00	1,308.00	770.00	1,541.00	702.00	1,781.00
con:CF_OTHER.OPERATING	0.00	0.00	0.00	0.00	0.00	2,000.00	3,177.00	0.00
con:INVESTMENTS_PURCHASED	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
con:INVESTMENTS_SOLD	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
con:PPE_DISPOSALS	2.00	2.00	3.00	5.00	7.00	13.00	9.00	23.00
con:CF_INVESTING.SUBSIDIARIES_SOLD	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
con:CF_INVESTING.SUBSIDIARIES_ACQUIRED	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
con:CF_INVESTING.JV_SOLD	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
con:CF_INVESTING.JV_ACQUIRED	1.00	7.00	0.00	0.00	0.00	0.00	0.00	0.00

Who owns it

The shareholding pattern filed with the exchange every quarter, as a series. Percentages are of total shares. Each figure names the filing it was read from and the date it was filed.

Holder	2023-03-31	2023-06-30	2023-09-30	2023-12-31	2024-03-31	2024-06-30	2024-09-30	2024-12-31	2025-03-31	2025-06-30	2025-09-30	2025-12-31	2026-03-31	2026-06-30
Promoter and promoter group	51.47	51.46	51.43	50.37	50.35	50.33	50.24	49.93	49.92	49.90	0.50	0.50	0.49	0.49
Domestic institutions	21.47	20.37	20.04	18.38	17.04	16.86	16.58	16.10	15.49	16.06	0.17	0.18	0.20	0.21
Mutual funds	—	—	—	—	—	—	—	—	—	12.51	0.13	0.13	0.15	0.15
Insurance companies	2.42	2.14	1.68	1.74	1.58	1.32	1.22	1.42	1.48	1.43	0.01	0.02	0.01	0.02
Foreign institutions	19.63	20.91	21.51	24.73	26.00	26.62	27.18	27.43	28.23	27.96	0.27	0.27	0.25	0.24
Public	48.53	48.54	48.57	49.63	49.65	49.67	49.76	50.07	50.08	50.10	0.50	0.50	0.51	0.51
Non-institutional	7.43	7.26	7.03	6.52	6.61	6.19	6.01	6.54	6.36	6.08	0.06	0.06	0.06	0.06
Shares outstanding	822040356	822219686	822504192	839665330	839968962	840241192	840424255	840781115	840940905	841177467	841399032	843952471	852037169	852586631

Related parties

Transactions with related parties as disclosed to the exchange for the period ending 2024-09-30, by counterparty, largest first. Amounts are as filed. Each row names the filing and the date it was filed.

Counterparty	Relationship	Type	Amount in the period	Transactions
Cholamandalam Securities Limited	Subsidiary Company	Any other transaction, Interest received, Loan, Purc	9,070,200,000.00	45
Chola Business Services Limited	Promoter Group	Any other transaction, Purchase of goods or services	2,647,100,000.00	2
Cholamandalam MS General Insurance Company Limited	Fellow Subsidiary	Any other transaction, Loan, Purchase of goods or se	2,309,100,000.00	10
Cholamandalam Home Finance Limited	Subsidiary Company	Any other transaction, Interest paid, Loan	647,500,000.00	7
Payswiff Technologies Private Limited	Joint Venture	Any other transaction, Interest received, Loan, Purc	342,700,000.00	9
Parry Enterprises India Limited	Subsidiaries of Entity having sign	Advance, Any other transaction, Dividend paid, Purch	294,700,000.00	6
Cholamandalam Financial Holdings Limited	Holding Company	Any other transaction, Dividend paid	268,300,000.00	3
Zetwerk Manufacturing Business Private Limited	a private company in which a direc	Interest received, Loan	201,900,000.00	3
Ambadi Investments Limited	Entity having significant influenc	Any other transaction, Dividend paid, Sale of goods	133,900,000.00	3
AMM Foundation	Promoter Group	Any other transaction	130,900,000.00	1
Net access India Limited	Promoter Group	Purchase of goods or services	63,000,000.00	1
Mr Ravindra Kumar Kundu	KMP	Any other transaction, Dividend paid, Remuneration,	43,700,000.00	4
Medall Health Care Private Limited	a private company in which a direc	Interest received, Loan	36,900,000.00	2
Mr D Arul Selvan	KMP	Any other transaction, Dividend paid, Remuneration,	36,300,000.00	4
M A Alagappan Holdings Private Limited	Promoter Group	Any other transaction, Dividend paid	16,900,000.00	2

What management said

Every earnings call we hold for this company, read in full. Prepared remarks are separated from the question-and-answer session and every paragraph names who said it and on which page. These are management’s own words, not filed figures.

Date	Quarter	Who spoke
2025-02-06	Q3FY25	COMPANY LIMITED, EXECUTIVE DIRECTOR – CHOLAMANDALAM, FINANCIAL OFFICER – CHOLAMANDALAM, LI	Read the call

Some earlier announcements under this heading are covering letters only — no transcript was attached.

What they said about it, quarter by quarter

Topic	Q3FY25
Capex	And from maybe better government capex which will lead to an improvement that we're talking about?
Guidance	So last quarter, I think we commented that generally, we expect Stage 3 assets to improve in the second half of the year.
Margin	Next year margin will be higher because of that.
People	And slowly, slowly improve because the capacity utilization of the vehicle still improving.
Pricing	And because the transfer price takes the market pricing, if there are any reductions that gets passed on and the reference price will change.