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Cholamandalam Investment Allots ₹2,000 Cr Perpetual Debt at 8.97% Coupon
Cholamandalam Investment and Finance Company has allotted 2,000 Unsecured Perpetual Non-Convertible Securities worth ₹2,000 crore on private placement via the NSE EBP platform. The perpetual debt carries a coupon rate of 8.97% per annum, payable annually on September 1. A call option is scheduled after 10 years on September 2, 2036. The fundraise of ₹2,000 crore represents approximately 6.6% of the company's net worth of ₹30,404 crore and will support ongoing lending operations.
Confidence: HIGH
What changedCholamandalam has completed the allotment of ₹2,000 crore in unsecured perpetual debt instruments to institutional investors.
Why it mattersPerpetual debt qualifies as hybrid Tier-1 capital, providing long-term non-dilutive capital to support loan book growth across vehicle, MSME, and rural finance.
Issue size: 2000 crsCoupon rate: 8.97%Call Option date: 2nd Sep 2036Fundraise vs Net Worth: ~6.6%
📅 Short termNeutral impact on stock price as this is a standard institutional debt placement for an active NBFC.
📈 Long termStrengthens capital adequacy and supports the company's targeted ~20% loan book expansion without equity dilution.
⚠ Risk flags
- Higher cost of capital with an 8.97% coupon rate compared to standard senior secured borrowing
- Subordinated/unsecured perpetual nature
Key Highlights
Allotted 2,000 Unsecured Perpetual Non-Convertible Securities aggregating to ₹2,000 cr
Issued on private placement via NSE EBP platform with no green shoe option
Fixed annual coupon rate of 8.97% payable on September 1 each year
Perpetual tenure with a 10-year Call Option exercisable on September 2, 2036
👀 What to Watch
Track how the capital infusion impacts the company's Tier-1 capital adequacy and net interest margins (NIMs) in upcoming quarterly results.
22% Disbursement Growth: CHOLAFIN Q1 FY27 Earnings Call Highlights
CHOLAFIN reported a strong Q1 FY27 with aggregate disbursements growing 22% YoY to INR 29,612 Cr, driving a 23% increase in AUM to INR 2,54,392 Cr. Profitability metrics improved significantly, with Return on Assets (ROA) rising to 3.7% from 3.1% YoY, aided by a 42 bps expansion in NIMs and a reduction in credit costs to 1.5%. The company is aggressively expanding its footprint, planning to convert 125 resident locations into full branches and add 360 gold loan branches this year. Capital adequacy remains healthy at 19.81%, with a final INR 430 Cr CCD conversion expected in October 2026.
Confidence: HIGH
What changedManagement provided detailed Q1 FY27 performance metrics, confirmed a shift to cheque-clearance-based disbursement accounting, and outlined specific branch expansion targets for the fiscal year.
Why it mattersThe results demonstrate CHOLAFIN's ability to maintain 20%+ growth momentum while simultaneously improving margins and asset quality, despite seasonal pressures in the vehicle finance segment.
Disbursement Growth (YoY): 22%Total AUM: INR 2,54,392 CrReturn on Assets (ROA): 3.7%Credit Cost: 1.5%Capital Adequacy Ratio: 19.81%AUM vs TTM Revenue: 856%
📅 Short termThe stock may see positive sentiment driven by the ROA improvement and strong disbursement growth across segments like Consumer (up 52%) and Vehicle Finance (up 21%).
📈 Long termStructural growth is supported by diversification into MSME, Home Loans, and Gold Loans, reducing cyclicality while maintaining high ROE (21.2%).
⚠ Risk flags
- Potential impact of below-average monsoon (92% predicted) on rural repayments
- Seasonal GNPA volatility (Stage 3 rose 25 bps QoQ)
- Execution risk in rapid gold loan branch expansion
Key Highlights
Aggregate disbursements reached INR 29,612 Cr in Q1 FY27, a 22% YoY increase.
Total Assets Under Management (AUM) grew 23% YoY to INR 2,54,392 Cr.
Net Interest Margins (NIMs) improved by 42 bps YoY, supported by lower funding costs.
Credit costs declined to 1.5% from 1.8% in the previous year, meeting management targets.
Planned expansion includes 360 new gold loan branches and converting 125 resident locations to full branches.
👀 What to Watch
Watch for the impact of monsoon progress on rural cash flows in Q3 and the execution of the gold loan branch expansion strategy. Monitor the final conversion of INR 430 Cr CCDs in October 2026 for its impact on equity dilution and capital ratios.
Rs 4,00,000 Cr Borrowing Limit Approved at CHOLAFIN 48th AGM; Rs 0.70 Final Dividend Declared
Cholamandalam Investment and Finance (CHOLAFIN) concluded its 48th AGM on July 28, 2026, where shareholders approved a significant increase in borrowing powers to Rs 4,00,000 crores. This new limit provides substantial balance sheet headroom, representing approximately 13.16x the company's current net worth of Rs 30,404 crores. Shareholders also ratified a final dividend of Rs 0.70 per share, bringing the total dividend for FY26 to Rs 2.00. The meeting confirmed the re-appointment of Managing Director Ravindra Kumar Kundu and highlighted the company's ongoing expansion into Tier III-VI cities and new verticals like Gold Loans.
Confidence: HIGH
What changedShareholders have formally approved the FY26 financial results, dividend payouts, and a massive expansion in the company's legal capacity to raise debt.
Why it mattersThe increased borrowing limit is a critical enabler for CHOLAFIN to fund its targeted 20% growth and maintain its aggressive expansion in underserved rural markets without frequent shareholder interventions for capital raising.
Approved Borrowing Limit: Rs 4,00,000 crFinal Dividend: Rs 0.70 per shareTotal FY26 Dividend: Rs 2.00 per shareBorrowing Limit vs Net Worth: ~13.16xTTM Revenue: Rs 29,702 cr
📅 Short termNeutral; the AGM proceedings were largely procedural and in line with expectations, with the dividend payout being the primary immediate event for shareholders.
📈 Long termThe expanded borrowing capacity supports the company's structural growth story in the NBFC space, particularly its goal of deeper rural penetration and vertical diversification.
⚠ Risk flags
- Rising credit costs in Home Loans (3.2% vs 2.5% YoY)
- Sensitivity of rural cash flows to monsoon performance
Key Highlights
Shareholders approved an increase in borrowing powers up to a limit of Rs 4,00,000 crores.
Final dividend of Rs 0.70 per share declared, following an interim dividend of Rs 1.30 per share.
Managing Director Ravindra Kumar Kundu re-appointed as Director retiring by rotation.
Auditor reports for the financial year ended March 31, 2026, contained no qualifications or adverse remarks.
Management reiterated a 20% expected growth rate driven by rural penetration and SME finance.
👀 What to Watch
Monitor the pace of debt utilization under the new Rs 4 lakh crore limit and track if the expansion into higher-risk segments like Gold Loans and D2C lending impacts overall credit costs.
45% PBT Growth in Q1 FY27; Disbursements Rise 22% to ₹29,612 Cr
CHOLAFIN reported a strong start to FY27 with disbursements growing 22% YoY to ₹29,612 Cr and Assets Under Management (AUM) reaching ₹2,33,586 Cr. Profitability saw a significant jump as Profit Before Tax (PBT) rose 45% to ₹2,220 Cr, aided by Net Interest Margin (NIM) expansion to 8.2% from 7.8%. While growth and margins were robust, asset quality showed slight pressure with GNPA increasing to 4.50% from 4.29% YoY. The company continues to diversify, with non-vehicle segments now accounting for 44% of total disbursements.
Confidence: HIGH
What changedThe company has demonstrated strong operating leverage in Q1 FY27, achieving 45% profit growth on a 22% increase in disbursements while expanding its branch network to 1,820 locations.
Why it mattersThe results confirm CHOLAFIN's ability to maintain high growth and improve margins despite a moderating industry environment, while successfully diversifying its portfolio beyond vehicle finance.
Disbursement Growth (YoY): 22%PBT Growth (YoY): 45%Net Interest Margin: 8.2%Total AUM: ₹2,33,586 CrGNPA (RBI): 4.50%Tier I Capital: 14.81%
📅 Short termThe stock is likely to react positively to the strong PBT growth and NIM expansion, which exceeded disbursement growth rates.
📈 Long termThe structural shift towards a multi-product ecosystem (MSME, Consumer, Gold) reduces cyclical risk associated with vehicle finance and supports a sustainable 20%+ ROE profile.
⚠ Risk flags
- Slight deterioration in asset quality (GNPA/NNPA) on a YoY basis
- Sensitivity of rural cash flows to monsoon patterns affecting repayments
Key Highlights
Disbursements grew 22% YoY to ₹29,612 Cr for the quarter ended June 2026
Profit Before Tax (PBT) increased by 45% to ₹2,220 Cr compared to the same quarter last year
Net Interest Margin (NIM) improved to 8.2% from 7.8% in Q1 FY26
Return on Equity (ROE) strengthened to 21.2% from 18.8% YoY
Gross NPA (RBI) stood at 4.50% in Q1 FY27 versus 4.29% in Q1 FY26
👀 What to Watch
Investors should monitor the asset quality trend (GNPA/NNPA) in upcoming quarters to ensure the slight uptick is not a structural concern. Additionally, watch the execution of the new Gold Loan and Consumer (CSEL) verticals as they scale to contribute more to the bottom line.
Rs 55,000 Cr NCD Fundraise Approved; Q1 PAT Jumps 46% YoY to Rs 1,654 Cr
CHOLAFIN reported a robust Q1 FY27 with standalone Net Profit rising 46% YoY to Rs 1,654 cr, supported by a 22% growth in total income. The Board has approved a massive fundraise of Rs 55,000 cr through Non-Convertible Debentures (NCDs) to fuel its lending operations. Assets Under Management (AUM) grew 23% YoY to Rs 2,54,392 cr, while disbursements rose 22% to Rs 29,612 cr. However, asset quality saw a slight seasonal dip with Stage 3 assets increasing to 3.29% from 3.05% in the previous quarter.
Confidence: HIGH
What changedThe company reported strong Q1 FY27 earnings and initiated a large-scale debt fundraise of Rs 55,000 cr.
Why it mattersThe significant fundraise (approx. 37% of market cap) indicates aggressive growth targets for the fiscal year, while the 46% PAT growth demonstrates high operational efficiency.
NCD Fundraise Amount: Rs 55,000 crFundraise vs Market Cap: ~37.2%PAT Growth (YoY): 46%AUM: Rs 2,54,392 crCapital Adequacy Ratio: 19.81%GNPA (RBI Norms): 4.50%
📅 Short termThe stock is likely to react positively to the strong earnings growth and the clarity on growth capital through the NCD approval.
📈 Long termThe company continues to deliver high ROE (21.2%) and robust AUM growth, though investors should watch for credit cost trends in new segments like CSEL and SME finance.
⚠ Risk flags
- Slight sequential deterioration in asset quality (Stage 3 up from 3.05% to 3.29%)
- Interest rate sensitivity given the large planned debt issuance
Key Highlights
Standalone Net Profit (PAT) increased 46% YoY to Rs 1,654 cr for the quarter ended June 30, 2026.
Board approved a fundraise of Rs 55,000 cr via NCDs on a private placement basis.
Assets Under Management (AUM) reached Rs 2,54,392 cr, a 23% growth over June 2025.
Return on Equity (ROE) for Q1 FY27 remained strong at 21.2%.
Stage 3 assets (90+ DPD) stood at 3.29% as of June 2026, compared to 3.05% in March 2026.
👀 What to Watch
Monitor the cost of borrowing for the new Rs 55,000 cr debt and observe if the Stage 3 asset quality (3.29%) improves as rural cash flows stabilize post-monsoon.
46% PAT Growth in Q1 FY27; Board Approves ₹55,000 Cr NCD Fundraise
CHOLAFIN reported a strong 46% YoY growth in standalone Profit After Tax (PAT) to ₹1,654 Cr for Q1 FY27. This was supported by a 22% increase in disbursements to ₹29,612 Cr and a 23% growth in Assets Under Management (AUM) to ₹2,54,392 Cr. While profitability remains high with an ROE of 21.2%, asset quality saw a slight seasonal deterioration with Stage 3 assets rising to 3.29% from 3.05% in the previous quarter. The board also approved a massive fundraise of ₹55,000 Cr via NCDs to fuel future growth.
Confidence: HIGH
What changedThe company reported its Q1 FY27 financial results and secured board approval for a ₹55,000 Cr fundraise via NCDs.
Why it mattersThe results demonstrate CHOLAFIN's ability to maintain high growth (23% AUM) and profitability (21% ROE) despite a large base. The fundraise, which is ~1.8x the company's current net worth, signals a strong pipeline for credit disbursement.
PAT (Q1 FY27): ₹1,653.59 CrAUM Growth (YoY): 23%Fundraise vs Net Worth: ~181%Stage 3 Assets: 3.29%Capital Adequacy Ratio: 19.81%ROE: 21.2%
📅 Short termThe stock is likely to react positively to the 46% profit growth and robust disbursement numbers, though the slight uptick in NPAs may temper the rally.
📈 Long termCHOLAFIN continues to diversify its book with SME and Gold Loans growing faster than the core vehicle finance, supporting a structural 20%+ growth trajectory.
⚠ Risk flags
- Asset quality stress (Stage 3 assets rose from 3.05% in March to 3.29% in June)
- High reliance on wholesale debt markets for the ₹55,000 Cr fundraise
Key Highlights
Standalone PAT grew 46% YoY to ₹1,654 Cr for the quarter ended June 30, 2026
Total Disbursements increased by 22% YoY to ₹29,612 Cr, led by strong growth in SME and Vehicle Finance
Assets Under Management (AUM) reached ₹2,54,392 Cr, representing a 23% YoY growth
Board approved a significant fundraise of ₹55,000 Cr through Non-Convertible Debentures (NCDs)
Return on Equity (ROE) for the quarter stood at 21.2% with a Capital Adequacy Ratio of 19.81%
👀 What to Watch
Investors should monitor the asset quality trend in the next quarter to see if the Stage 3 asset increase (to 3.29%) is purely seasonal or a structural concern. The massive ₹55,000 Cr fundraise approval indicates aggressive growth plans for FY27.
13.54 Lakh Shares Allotted via Conversion of 20,000 CCDs at Rs 1476.08
Cholamandalam Investment and Finance (CHOLAFIN) has approved the conversion of 20,000 Compulsorily Convertible Debentures (CCDs) into 13,54,940 equity shares. These CCDs were part of a larger 2,00,000 CCD issuance from October 2023. The conversion price of Rs 1476.08 per share was calculated at a 16.50% discount to the 7-day volume-weighted average price (VWAP) preceding July 1, 2026. This specific allotment results in a marginal equity dilution of approximately 0.16%.
Confidence: HIGH
What changedA portion of the company's debt-like instruments (CCDs) has been converted into equity, increasing the total number of outstanding shares.
Why it mattersWhile it strengthens the Tier-1 capital base of the NBFC, it leads to minor equity dilution. The conversion price is significantly lower than the current market price of Rs 1849.0.
CCDs Converted: 20,000Shares Allotted: 13,54,940Conversion Price: Rs 1476.08Equity Dilution: ~0.16%Discount to VWAP: 16.50%
📅 Short termThe market is likely to view this as a routine capital structure adjustment, though the discount in conversion price is a point of note.
📈 Long termThe conversion supports the company's capital adequacy as it pursues a 20% growth rate and expands into rural Tier III-VI markets.
⚠ Risk flags
- Potential for further equity dilution from the remaining 1,80,000 unconverted CCDs.
Key Highlights
Conversion of 20,000 CCDs with a face value of Rs 1,00,000 each into equity.
Allotment of 13,54,940 new equity shares of face value Rs 2 each.
Conversion price set at Rs 1476.08, representing a 16.50% discount to the 7-day VWAP.
Total paid-up capital increased from 85,26,58,096 to 85,40,13,036 shares.
The conversion window for this tranche was open from July 1, 2026, to July 7, 2026.
👀 What to Watch
Investors should monitor the conversion of the remaining 1,80,000 CCDs (90% of the original issue) as they will lead to further equity dilution over the coming quarters.
₹4,00,000 Cr Borrowing Limit Proposed by CHOLAFIN; Final Dividend of ₹0.70 Announced
Cholamandalam Investment and Finance (CHOLAFIN) has scheduled its 48th AGM for July 28, 2026. The company has recommended a final dividend of ₹0.70 per share (35%), which, combined with the interim dividend, brings the total FY26 payout to ₹2.00 per share. Crucially, the board is seeking shareholder approval to increase its borrowing limit to ₹4,00,000 crores. This proposed limit is approximately 13.1x the company's current net worth of ₹30,404 crores, signaling significant headroom for future loan book expansion.
Confidence: HIGH
What changedThe company is formalizing its FY26 financial adoption and seeking a substantial increase in its debt-raising capacity to fund future growth.
Why it mattersThe ₹4,00,000 crore borrowing limit provides the necessary regulatory headroom for CHOLAFIN to sustain its 20% growth target and scale new verticals like Gold Loans and MSME finance.
Final Dividend: ₹0.70 per shareProposed Borrowing Limit: ₹4,00,000 CrBorrowing Limit vs Net Worth: 13.15xTotal FY26 Dividend: ₹2.00 per shareDividend Record Date: July 21, 2026
📅 Short termThe stock may see minor interest leading up to the July 21 record date for the final dividend.
📈 Long termThe increased borrowing capacity is a structural positive, enabling the company to expand its balance sheet significantly over the next few years.
⚠ Risk flags
- High leverage if the full borrowing limit is utilized
- Sensitivity to rural cash flows affecting credit costs
Key Highlights
Proposed final dividend of ₹0.70 per share (35% on ₹2 face value) with a record date of July 21, 2026.
Total dividend for FY26 confirmed at ₹2.00 per share, including the ₹1.30 interim dividend paid in February 2026.
Special resolution to increase the borrowing limit to ₹4,00,000 crores, superseding the previous limit.
Re-appointment of Mr. Ravindra Kumar Kundu as Director, who is also the current Managing Director & CEO.
AGM to be conducted via Video Conferencing on July 28, 2026, at 3:30 PM IST.
👀 What to Watch
Investors should monitor the voting results for the special resolution on borrowing limits and listen for management commentary during the AGM regarding the timeline for utilizing this expanded capital base.
Cholamandalam Investment Allots ₹2,000 Cr Unsecured Subordinated NCDs at 8.88% Coupon
Cholamandalam Investment and Finance Company (CHOLAFIN) has successfully allotted 200,000 unsecured subordinated non-convertible securities via private placement. The total fundraise amounts to ₹2,000 crores, which includes a significant green shoe option of ₹1,400 crores. These securities carry a fixed coupon rate of 8.88% per annum with a tenure of 7 years, maturing in June 2033. This capital infusion will likely support the company's growth objectives and strengthen its Tier-II capital base.
Key Highlights
Allotted 200,000 unsecured subordinated NCDs totaling ₹2,000 crores via private placement.
The issuance includes a green shoe option of ₹1,400 crores, indicating strong institutional demand.
Fixed coupon rate set at 8.88% per annum with annual interest payments and maturity in 2033.
The 7-year tenure provides long-term stable funding for the NBFC's lending operations.
👀 What to Watch
Investors should note the successful fundraise as a sign of institutional confidence and improved capital adequacy. Monitor how this 8.88% cost of debt impacts the overall net interest margins in the coming quarters.
Cholamandalam Finance Allots ₹100 Crore Secured NCDs at 8.08% Coupon
Cholamandalam Investment and Finance Company Limited has successfully allotted 10,000 secured non-convertible securities via private placement. The total issue size is ₹100 crores with a tenure of approximately 2 years and 11 months. The securities carry a fixed coupon rate of 8.08% and a re-issue yield of 8.15%. These funds will likely be utilized to support the company's ongoing lending operations and strengthen its capital base.
Key Highlights
Allotment of 10,000 secured non-convertible securities totaling ₹100 crores.
Fixed coupon rate of 8.08% per annum with annual and maturity-based payment frequency.
Tenure of 1,083 days (approximately 2 years 11 months) with a maturity date of June 5, 2029.
Issued via private placement on the NSE EBP platform and listed on the WDM segment of NSE.
👀 What to Watch
Investors should monitor the company's cost of borrowing trends, as this 8.08% rate is indicative of current market pricing for high-rated NBFC debt. No immediate portfolio action is required as this is a routine fundraising activity.
Cholamandalam Investment Allots ₹5,000 Crore Secured NCDs via Private Placement
Cholamandalam Investment and Finance Company Limited has successfully allotted 5,00,000 secured non-convertible securities to raise ₹5,000 crores. The issuance was conducted via a private placement on the NSE EBP platform with no green shoe option. The securities have a tenure of approximately 2 years and 9 months (1007 days) and carry a floating coupon rate of 3-month T-Bill plus 2.75%, currently set at 8.12%. This capital infusion will likely support the company's lending operations and liquidity management.
Key Highlights
Allotted 5,00,000 secured non-convertible securities totaling ₹5,000 crores
Issued via private placement on the NSE Electronic Bidding Platform (EBP) with no green shoe option
Tenure set at 1,007 days with a maturity date of February 27, 2029
Floating coupon rate of 3m T-Bill + 2.75%, with the first reset coupon at 8.12%
Securities are secured at 1x cover and will be listed on the WDM segment of NSE
👀 What to Watch
Investors should view this as a positive sign of the company's ability to raise large-scale capital to fuel its loan book growth. Monitor the impact of the floating rate interest cost on the company's net interest margins (NIMs) in upcoming quarters.
Cholamandalam Investment Allots ₹317 Crore Secured NCDs at 8.08% Coupon
Cholamandalam Investment and Finance Company Limited (CHOLAFIN) has successfully allotted 31,700 secured non-convertible securities via a private placement on the NSE EBP platform. The allotment represents a total value of ₹317 crores, part of a larger ₹1000 crore issue size which includes a ₹635 crore green shoe option. These securities carry a coupon rate of 8.08% and a tenure of 3 years and 15 days (1,111 days). The funds raised will likely support the company's ongoing lending operations and capital requirements.
Key Highlights
Allotted 31,700 secured non-convertible securities totaling ₹317 crores.
The securities carry a coupon rate of 8.08% with a re-issue yield of 8.35%.
Tenure of the debt instrument is set at 3 years and 15 days, maturing on June 5, 2029.
The issuance is part of a ₹1000 crore total issue size, including a green shoe option of ₹635 crores.
Securities will be listed on the Wholesale Debt Market (WDM) segment of the National Stock Exchange.
👀 What to Watch
This is a routine fundraise for an NBFC to manage liquidity and growth; investors should monitor the company's cost of funds and credit rating stability.
Chola Finance Q4 FY26: AUM Up 21% to ₹2.42 Lakh Cr, ROE Hits 23%
Cholamandalam Investment and Finance reported a robust Q4 FY26 with aggregate disbursements growing 25% YoY to ₹32,913 crores, leading to a 21% increase in AUM. Profitability improved significantly with NIMs expanding by 40 bps and ROA (pre-overlay) reaching 4.1%. Despite strong asset quality, the company prudently created a ₹200 crore management overlay to buffer against global macro uncertainties. Management has guided for a sustained 20-23% AUM growth and a reduction in credit costs to 1.5% for FY27.
Key Highlights
Aggregate disbursements grew 25% YoY to ₹32,913 crores in Q4 FY26
Total AUM reached ₹2,42,630 crores, driven by 26% growth in Vehicle Finance and 29% in MSME
Return on Equity (ROE) stood at a strong 23% for the quarter
NIMs improved by 40 bps YoY, supported by softening interest rates and lower cost of funds
Management provided a ₹200 crore precautionary overlay despite a 20 bps decline in core credit costs
👀 What to Watch
Investors should view the strong ROE and conservative provisioning as a sign of operational strength. The stock remains a solid play on diversified credit growth in India, especially with the 20-23% growth guidance for FY27.
Cholamandalam Investment Allots ₹500 Crore Secured NCDs at 8.08% Coupon
Cholamandalam Investment and Finance Company Limited (CHOLAFIN) has allotted 50,000 secured non-convertible securities via a private placement on the NSE EBP platform. The company raised ₹500 crores as part of a larger ₹1,500 crore issue, which includes a ₹1,000 crore green shoe option. These NCDs carry a coupon rate of 8.08% per annum with a tenure of approximately 3 years and 1 month. The funds raised will likely be utilized to support the company's ongoing lending operations and strengthen its capital base.
Key Highlights
Allotment of 50,000 secured non-convertible securities amounting to ₹500 crores
Coupon rate fixed at 8.08% per annum with annual and maturity-based payments
Total issue size of ₹1,500 crores including a green shoe option of ₹1,000 crores
Tenure of the debt instrument is 1,127 days (approx. 3 years 1 month) maturing on June 5, 2029
👀 What to Watch
This is a routine fund-raising activity for a large NBFC like Cholamandalam to fuel its loan book growth. Investors should continue to monitor the company's cost of borrowing and its impact on net interest margins (NIMs).
Chola Finance FY26 PAT Rises 23% to ₹5,220 Cr; AUM Crosses ₹2.42 Lakh Cr
Cholamandalam Investment and Finance (Chola) reported a strong financial performance for FY26, with Profit After Tax (PAT) growing 23% YoY to ₹5,220 Cr. Total Assets Under Management (AUM) reached ₹2,42,630 Cr, marking a 21% growth, while annual disbursements rose 11% to ₹1,11,642 Cr. The company saw an improvement in Net Interest Margins (NIM) to 8.0% for the full year, supported by a diversified product mix and a robust branch network of 1,761 locations.
Key Highlights
Annual PAT increased by 23% to ₹5,220 Cr, with Q4 FY26 PAT surging 30% YoY to ₹1,641 Cr.
Total AUM grew 21% YoY to ₹2,42,630 Cr, driven by Vehicle Finance and Loan Against Property segments.
Net Interest Margin (NIM) for Q4 FY26 improved to 8.4% compared to 8.0% in the previous year.
Branch network expanded to 1,761 locations, with 88% presence in Tier-III to Tier-VI towns.
Return on Equity (ROE) remained healthy at 19.7% for FY26 with a Capital Adequacy Ratio of 19.21%.
👀 What to Watch
Investors should view the strong AUM growth and margin expansion as positive indicators of operational efficiency. While asset quality (GNPA at 4.36%) requires monitoring, the company's deep rural penetration and diversified loan book make it a solid long-term bet in the NBFC space.
Cholamandalam FY26 PAT Jumps 22.5% to ₹5,220 Cr; Final Dividend of ₹0.70 Declared
Cholamandalam Investment and Finance Company (CHOLAFIN) reported a robust performance for FY26, with standalone Profit After Tax (PAT) rising 22.5% to ₹5,219.59 crore. Total revenue from operations grew by 20.3% year-on-year to reach ₹30,981.74 crore, supported by a 19.6% expansion in the loan book to ₹2.17 lakh crore. The Board has recommended a final dividend of ₹0.70 per share (35% of face value), subject to shareholder approval at the upcoming AGM on July 28, 2026. Despite higher impairment costs, the company maintained strong profitability with Basic EPS rising to ₹61.83.
Key Highlights
Standalone PAT for FY26 increased to ₹5,219.59 Cr from ₹4,258.53 Cr in FY25.
Total Revenue from Operations grew 20.3% YoY to ₹30,981.74 Cr, driven by strong interest income.
Loan assets under management grew by 19.6% YoY to reach ₹2,17,571.16 Cr.
Recommended a final dividend of ₹0.70 per equity share (35% on face value of ₹2).
Impairment of financial instruments rose to ₹3,535.83 Cr in FY26 compared to ₹2,494.26 Cr in FY25.
👀 What to Watch
The strong growth in the loan book and double-digit PAT growth reinforce the company's market position in the NBFC sector. Investors should remain positive but monitor the rising impairment costs as a potential risk to future margins.
CHOLAFIN Q4 Profit Rises 29.5% to ₹1,641 Cr; Final Dividend of ₹0.70 Declared
Cholamandalam Investment and Finance reported a robust 22.6% YoY growth in standalone net profit for FY26, reaching ₹5,219.59 crores. The Q4 FY26 standalone profit stood at ₹1,640.71 crores, up from ₹1,266.72 crores in the same quarter last year. The company's total revenue for the year surged to ₹31,444.84 crores, supported by a 19.6% increase in interest income. A final dividend of ₹0.70 per share has been recommended, with the record date fixed as July 21, 2026.
Key Highlights
Standalone Net Profit for FY26 rose 22.6% to ₹5,219.59 crores vs ₹4,258.53 crores in FY25.
Q4 FY26 standalone profit jumped 29.5% YoY to ₹1,640.71 crores.
Total Revenue from Operations for FY26 increased to ₹30,981.74 crores from ₹25,745.57 crores.
Board recommended a final dividend of ₹0.70 per share (35% on face value of ₹2).
Basic EPS for the full year FY26 improved significantly to ₹61.83 from ₹50.67.
👀 What to Watch
With consistent double-digit profit growth and a steady dividend payout, the stock remains a strong play in the NBFC space. Investors may consider holding or adding on dips given the robust operational performance.
Cholamandalam Finance Q4 PAT Rises 29.5% to ₹1,641 Cr; Recommends ₹0.70 Final Dividend
Cholamandalam Investment and Finance Company (CHOLAFIN) reported a robust performance for FY26, with standalone annual profit after tax growing 22.5% to ₹5,219.59 crores. For the fourth quarter ended March 31, 2026, the company saw a 29.5% YoY increase in standalone PAT to ₹1,640.71 crores. Total revenue from operations for the full year crossed the ₹30,000 crore mark, reaching ₹30,981.74 crores. The board has recommended a final dividend of ₹0.70 per share, reflecting continued shareholder returns alongside strong balance sheet growth.
Key Highlights
Standalone Profit After Tax for FY26 grew 22.5% YoY to ₹5,219.59 crores from ₹4,258.53 crores.
Q4 FY26 standalone revenue from operations rose 19.5% YoY to ₹8,392.30 crores.
Recommended a final dividend of ₹0.70 per equity share (35% on face value of ₹2) for FY26.
Full-year Basic Earnings Per Share (EPS) increased to ₹61.83 from ₹50.67 in the previous fiscal.
Total standalone assets increased to ₹2,45,069.85 crores as of March 31, 2026, up from ₹2,01,647.59 crores YoY.
👀 What to Watch
Investors should take note of the strong double-digit growth in both top-line and bottom-line figures, confirming the company's leadership in the NBFC sector. The stock remains a positive long-term hold given the consistent asset growth and improved EPS.
CHOLAFIN Q4 FY26 PAT Jumps 29.5% YoY to ₹1,641 Cr; Final Dividend of ₹0.70 Recommended
Cholamandalam Investment and Finance (CHOLAFIN) reported a robust performance for the quarter ended March 31, 2026, with standalone PAT rising 29.5% YoY to ₹1,640.71 crore. For the full fiscal year 2026, standalone profit reached ₹5,219.59 crore, a significant increase from ₹4,258.53 crore in FY25. Total revenue from operations grew by 20.3% annually to ₹30,981.74 crore, supported by strong interest income. The board has recommended a final dividend of ₹0.70 per share, bringing the total payout for the year to a consistent level for shareholders.
Key Highlights
Standalone PAT for Q4 FY26 stood at ₹1,640.71 crore, up 29.5% from ₹1,266.72 crore in the same quarter last year.
Full-year FY26 standalone profit after tax grew 22.5% YoY to ₹5,219.59 crore.
Total Revenue from Operations for FY26 increased to ₹30,981.74 crore compared to ₹25,745.57 crore in FY25.
The Board recommended a final dividend of ₹0.70 per equity share (35% on face value of ₹2).
Total Standalone Assets grew to ₹2,45,069.85 crore as of March 31, 2026, representing a 21.5% growth over the previous year.
👀 What to Watch
The company continues to demonstrate strong growth in its loan book and profitability, making it a solid pick in the NBFC space. Investors should hold the stock for long-term value, noting the healthy asset growth and consistent dividend track record.
Cholamandalam Finance Raises ₹2,000 Crore via Secured NCDs at 7.94% Coupon
Cholamandalam Investment and Finance Company Limited (CHOLAFIN) has successfully allotted 200,000 secured non-convertible securities via private placement. The total fundraise amounts to ₹2,000 crores, which includes a green shoe option of ₹1,000 crores. These NCDs carry a competitive coupon rate of 7.94% per annum with a tenure of 3 years. The capital infusion is expected to bolster the company's lending capacity and liquidity position.
Key Highlights
Total allotment of ₹2,000 crores through private placement on the NSE EBP platform
Issue includes a base size and a green shoe option of ₹1,000 crores each
Fixed coupon rate of 7.94% payable annually and on maturity (March 20, 2029)
Securities have a tenure of 1,096 days (3 years) and are secured at 1x cover
Funds raised will support the company's ongoing business growth and debt refinancing
👀 What to Watch
The successful fundraise at a sub-8% rate reflects strong institutional confidence in the company's credit profile. Investors should view this as a positive step for maintaining growth momentum in the loan book.
