The shares of this leading NBFC company surged by 9.5% to reach ₹1,307.65 per share on Thursday after the company’s net profit jumped 25% year-on-year to ₹1,065 crores.
At 2:15 p.m., Cholamandalam Investment & Finance Company Ltd shares were trading at ₹1,299 per share, up 8.86% on the National Stock Exchange from the previous close price. The company has a market capitalization of ₹1,09,121 crore.
Cholamandalam Investment & Finance Company Ltd announced a consolidated net profit of ₹1,065 crores for the quarter ending March 2024 (Q4FY24), marking a 25% rise from ₹855 crores recorded in Q4FY23. Additionally, the company’s total revenue for the same quarter surged by 45%, reaching ₹5,428 crores compared to ₹3,741 crores in the previous year’s corresponding quarter.
For the fiscal year 2023-24, the company reported a consolidated net profit of ₹3,420 Crores, up 28% from ₹2,665 crores in FY22-23. Similarly, the total revenue for the fiscal year grew by 49%, standing at ₹19,140 crores compared to ₹12,884 crores in the previous fiscal year. As per the company’s filing.
During the quarter ending March 2024, total loan disbursements surged by 18% year-on-year, reaching a new high of ₹ 24,784 crore compared to ₹ 21,020 crore in the previous year.
Among the loan segments, vehicle finance loans, constituting the company’s largest loan portfolio, reached ₹ 2,962 crore, marking a 6% increase from ₹ 12,190 crore a year earlier.
Loan against property (LAP) disbursements saw a significant uptick to ₹ 4,273 crore, up by 55% from ₹ 2,762 crore in the previous year. Consumer and small enterprise loans (CSEL) also witnessed a substantial increase to ₹ 3,301 crore, reflecting a 40% rise from ₹ 2,364 crore a year ago.
The company’s total assets under management saw a robust growth of 36%, reaching ₹ 1.53 lakh crore compared to ₹1.12 lakh crore in the preceding year. Additionally, the company maintained a cash balance of ₹ 7,899 crore at the end of March 2024, which includes investments of ₹ 1,500 crore in government securities and ₹ 765 crore in other liquid investments.
The gross stage three advances decreased to 2.48% of advances from 3.01% in the previous year. Furthermore, the company’s capital adequacy ratio (CAR) stood at 18.57%.
Cholamandalam Investment & Finance Company is one of the premier diversified non-banking finance companies in India, engaged in providing vehicle finance, home loans and loans against property.It is one of the 28 businesses under the Murugappa Group.
Over the past six months, Cholamandalam Investment & Finance Company Ltd shares have seen an increase of 11%, while over the course of the last twelve months, the gain has been 49%.
Written by Omkar Chitnis
Disclaimer
The views and investment tips expressed by investment experts/broking houses/rating agencies on tradebrains.in are their own, and not that of the website or its management. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution while investing or trading in stocks. Dailyraven Technologies or the author are not liable for any losses caused as a result of the decision based on this article. Please consult your investment advisor before investing.
