Cholamandalam Financial Holdings Ltd

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Cholamandalam Financial Holdings Ltd

₹ 1,502 -3.08%
21 Nov 4:00 p.m.
cholafhl.com BSE: 504973 NSE: CHOLAHLDNG
About

Cholamandalam Financial Holdings Limited (CFHL) is a part of the Murugappa Group. The Co. is a Core Investment Company registered with the RBI, offering a diverse range of financial products and risk management services to individual and corporate customers through its group companies. [1]

Key Points

Services
NBFC: The Co. provides financial services through its subsidiary Cholamandalam Investment and Finance Company Limited (CIFCL) by offering vehicle finance, home loans, loan against property, etc to a wide range of customers, wherein it holds 45.41% as of June 2022.
General Insurance: The Co. offers a wide range of insurance including motor, travel, health, accident, home, and other types of insurance for corporate customers through its subsidiary Cholamandalam MS General Insurance Company Limited (CMSGICL), wherein it holds 60% as on June 2022.
Risk Management & Engineering Solutions: The Co. provides risk management and engineering solutions in the field of Safety, Health, and Environment through its Joint Venture with Mitsui Sumitomo Insurance Group, Japan through Cholamandalam MS Risk Services Ltd (CMSRSL), wherein it holds 49.5% as on June 2022. [1]

Website BSE NSE
  • Market Cap ₹ 28,206 Cr.
  • Current Price ₹ 1,502
  • High / Low ₹ 2,155 / 960
  • Stock P/E 13.7
  • Book Value ₹ 605
  • Dividend Yield 0.04 %
  • ROCE 10.7 %
  • ROE 19.8 %
  • Face Value ₹ 1.00
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Pros

  • Company is expected to give good quarter
  • Company has delivered good profit growth of 20.5% CAGR over last 5 years

Cons

  • Company has low interest coverage ratio.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Sector: Finance Industry: Finance & Investments

Part of BSE 250 SmallCap Index BSE Diversified Financials Revenue Growth Index (I Nifty Smallcap 250 BSE Allcap BSE SmallCap Select Index

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024
3,583 3,726 3,743 3,937 4,298 4,725 5,186 5,626 6,317 6,795 7,083 7,633 8,090
1,589 1,921 1,719 1,999 2,153 2,212 2,244 2,588 2,898 2,978 2,932 3,253 3,537
Operating Profit 1,995 1,805 2,023 1,938 2,145 2,513 2,942 3,038 3,419 3,816 4,152 4,380 4,553
OPM % 56% 48% 54% 49% 50% 53% 57% 54% 54% 56% 59% 57% 56%
1 18 52 26 57 52 97 89 55 48 92 45 91
Interest 1,085 1,054 1,079 1,137 1,347 1,551 1,743 2,013 2,209 2,445 2,582 2,796 3,058
Depreciation 37 38 42 41 42 44 50 52 52 55 88 70 74
Profit before tax 874 732 954 786 813 970 1,246 1,062 1,213 1,363 1,574 1,559 1,513
Tax % 25% 26% 28% 26% 25% 26% 28% 25% 27% 25% 27% 26% 26%
652 543 687 582 606 720 901 792 888 1,027 1,144 1,160 1,125
EPS in Rs 16.14 13.26 16.23 14.25 15.07 17.69 21.72 19.78 22.41 24.88 27.32 29.20 27.99
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Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 TTM
7,724 8,807 9,696 8,004 2,688 8,909 10,926 13,135 13,900 14,644 18,154 25,830 29,601
5,422 5,991 6,542 7,029 2,377 4,490 5,147 6,588 6,807 7,210 8,597 11,389 12,700
Operating Profit 2,302 2,815 3,154 975 311 4,419 5,778 6,547 7,093 7,434 9,558 14,441 16,901
OPM % 30% 32% 33% 12% 12% 50% 53% 50% 51% 51% 53% 56% 57%
25 29 123 1,538 1 0 21 1 60 92 221 256 277
Interest 1,520 1,896 2,103 976 0 2,655 3,587 4,592 4,608 4,328 5,778 9,249 10,881
Depreciation 133 159 171 163 17 70 78 150 145 154 176 248 288
Profit before tax 674 789 1,003 1,374 295 1,695 2,135 1,806 2,400 3,044 3,824 5,200 6,009
Tax % 32% 34% 32% 27% 30% 34% 34% 36% 27% 26% 26% 26%
458 518 684 1,181 538 1,127 1,415 1,165 1,764 2,239 2,810 3,851 4,456
EPS in Rs 15.45 16.66 22.68 55.47 24.26 29.32 37.12 29.34 43.93 54.49 68.71 94.39 109.39
Dividend Payout % 13% 12% 9% 9% 1% 4% 3% 2% 1% 1% 1% 1%
Compounded Sales Growth
10 Years: 11%
5 Years: 19%
3 Years: 23%
TTM: 35%
Compounded Profit Growth
10 Years: 19%
5 Years: 21%
3 Years: 29%
TTM: 34%
Stock Price CAGR
10 Years: 20%
5 Years: 25%
3 Years: 29%
1 Year: 41%
Return on Equity
10 Years: 18%
5 Years: 18%
3 Years: 19%
Last Year: 20%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Sep 2024
Equity Capital 37 37 37 37 19 19 19 19 19 19 19 19 19
Reserves 1,622 1,914 2,290 3,287 2,745 3,291 3,925 4,572 5,367 6,427 7,642 10,223 11,342
16,604 19,464 21,431 1,441 0 38,200 50,447 55,117 63,797 69,229 97,191 134,014 157,330
4,837 5,887 6,579 4,900 5,129 11,897 13,546 16,147 19,432 22,097 26,181 32,662 34,987
Total Liabilities 23,100 27,302 30,338 9,665 7,892 53,407 67,937 75,855 88,616 97,771 131,033 176,917 203,678
1,258 1,318 1,521 1,336 102 311 306 479 447 464 623 1,784 1,926
CWIP 164 201 40 56 0 4 14 11 10 40 60 13 0
Investments 1,688 2,116 2,665 5,141 6,536 6,211 7,552 8,893 11,678 13,282 17,536 20,058 22,463
19,990 23,667 26,112 3,131 1,254 46,881 60,065 66,472 76,481 83,984 112,813 155,063 179,288
Total Assets 23,100 27,302 30,338 9,665 7,892 53,407 67,937 75,855 88,616 97,771 131,033 176,917 203,678

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
-3,228 -1,872 -1,685 -500 594 -6,302 -9,274 -1,914 -9,719 -5,738 -29,329 -35,726
-838 -499 -461 193 -1,263 -1,825 -94 -96 -62 -135 295 -2,625
4,465 2,643 1,704 748 -69 8,287 12,171 2,427 7,688 7,073 27,288 38,269
Net Cash Flow 398 272 -443 441 -738 160 2,803 417 -2,093 1,199 -1,746 -82

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Debtor Days 25 25 25 31 32 3 1 1 1 2 2 3
Inventory Days 71 78 87 86
Days Payable 104 135 125 99
Cash Conversion Cycle -8 -32 -12 18 32 3 1 1 1 2 2 3
Working Capital Days -14 -13 14 -90 -257 -255 -225 -221 -262 -284 -274 -220
ROCE % 13% 13% 13% 10% 7% 18% 11% 10% 10% 9% 10% 11%

Shareholding Pattern

Numbers in percentages

Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024
48.62% 48.62% 48.62% 48.61% 48.61% 48.39% 48.39% 47.37% 47.37% 47.37% 47.32% 47.32%
12.14% 11.66% 11.82% 11.76% 11.60% 11.99% 11.31% 12.92% 12.87% 13.78% 13.73% 16.28%
25.32% 25.64% 25.64% 26.54% 26.57% 26.56% 27.15% 26.71% 25.96% 25.24% 25.51% 23.01%
0.00% 0.00% 0.00% 0.46% 0.46% 0.46% 0.46% 0.46% 0.46% 0.46% 0.46% 0.46%
13.92% 14.09% 13.93% 12.62% 12.78% 12.59% 12.68% 12.53% 13.34% 13.15% 12.99% 12.93%
No. of Shareholders 21,22621,27922,17220,96221,28921,67823,17030,62343,35832,53232,94638,454

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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