India · Delayed Price · Currency is INR Cholamandalam Investment and Finance Company Earnings Call Transcripts
Fiscal Year 2026
-
Q3 FY26 saw 16% YoY disbursement growth and 20% AUM growth, with strong performance across vehicle finance, LAP, home loans, and SBPL. Asset quality is stabilizing, NIMs improved, and capital adequacy remains robust. Outlook for Q4 and FY27 is positive, with further improvements expected.
-
Q2 FY26 delivered 21% AUM growth and 20% PBT growth year-over-year, with NIM rising to 7.9%. Asset quality improved sequentially, and management expects stronger disbursement and further credit cost moderation in H2, maintaining 20%+ AUM growth guidance.
-
Q1 FY 2026 saw robust AUM growth and improved margins despite muted disbursements and rising asset quality stress, particularly in vehicle finance. Management expects credit costs to normalize and growth to pick up in H2, contingent on macro and rural recovery.
Fiscal Year 2025
-
AUM grew 30% year-over-year, with strong disbursement growth in vehicle finance, LAP, and home loans. Credit costs are expected to improve, and new businesses like gold loans are being launched. Guidance remains for 20-25% AUM growth and stable asset quality.
-
Q3 FY25 saw 15% disbursement growth and 34% AUM growth year-over-year, with net income up 37%. Asset quality remains under pressure in some segments, but management expects credit costs and growth to improve next year, supported by strong liquidity and capital adequacy.
-
Q2 FY25 saw 13% disbursement growth and 33% AUM growth year-on-year, with net income up 37%. Asset quality saw a slight sequential rise in Stage 3 and GNPA, but improvement is expected in Q4. Full-year AUM growth guidance remains at 25%, with credit cost targeted at 1.3%.
-
Q1 FY25 saw 22% YoY disbursement growth and 38% AUM growth, with net income up 43%. Credit costs and write-offs rose but are expected to normalize, while capital and liquidity remain strong. Growth guidance of 25%-30% AUM and 20%-25% disbursement is maintained.