Cholamandalam Investments Q4 PAT surges 184% YoY to Rs 690 crore

Cholamandalam Investment and Finance Company's net profit jumped 184% to Rs 689.58 crore in Q4 FY22 from 243.21 crore posted in Q4 FY21.

Total income rose by 4.5% year-on-year (YoY) to Rs 2,631.75 crore during the quarter. Aggregate disbursements in Q4 FY22 were at Rs 12,718 crore as against Rs 8,071 crore in Q4 FY21, with a growth of 58%.

Vehicle Finance (VF) business clocked disbursements of Rs 8,785 crore in Q4 FY22 as against Rs 6,153 crore in Q4 FY21, registering a growth of 43%. Loan Against Property (LAP) including affordable LAP, business saw disbursement of Rs 1,978 crore in Q4 FY22, as compared to Rs 1,191 crore recorded in Q4 FY21, clocking a growth of 66%. Home Loan (HL) business witnessed 18% decline in disbursements to Rs 441 crore in Q4 FY22, from Rs 538 crore in Q4 FY21.

Assets under management as of 31 March 2022, grew by 8.3% at Rs 82,904 crore as compared to Rs 76,518 crore as at end of March 2021.

The asset quality witnessed a mild decline. Gross Non Performing Assets ratio stood at 6.82% as of 31 March 2022 as compared to 4% as of 31 March 2021. Net Non Performing Assets stood at 4.8% as of 31 March 2022 as against 2.2% as of 31 March 2021. Provision Coverage ratio as per IND AS was at 39.7% at the end of 31 March 2022 as against 44.3% reported at the end of 31 March 2021.

The NBFC said it continues to hold strong liquidity position with Rs 5,341 crore as cash balance as at end of March 2022 (including Rs 1500 crore invested in GSec shown under investments) with a total liquidity position of Rs 13,246 crore (including undrawn sanctioned lines). The asset and liability management (ALM) was with no negative cumulative mismatches across all time buckets.

The company reported a 41.7% jump in net profit to Rs 2,146.71 crore on a 5.9% rise in total income to Rs 10,138.77 crore in the year ended 31 March 2022 over the year ended 31 March 2021.

The board recommended a dividend of Rs 0.7 per equity share for the financial year ended 31 March 2022.

Cholamandalam Investment and Finance Company, the financial services arm of Murugappa Group, is a diversified non-banking finance company engaged in providing vehicle finance, home loans and corporate mortgage loans, small and medium enterprises (SME) loans, investment advisory services, stock broking and a range of other financial services.

The scrip fell 11.07% to end at Rs 636.15 on Friday.

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