Cholamandalam Investment & Finance Company Ltd(CHOLAFIN)

NSE: CHOLAFINBSE: 511243

₹ 1,455-0.62%refreshed 26 Oct, 03:30 pm ISTMarket cap: ₹ 1.25 L crNext results: 28 Oct 2026Website: www.cholamandalam.comUpdated: 24 Oct 2026

About

Cholamandalam Investment & Finance Company Ltd (Chola) is an Indian NBFC offering vehicle finance, home loans, loan against property, SME loans, SBPL, CSEL, gold loans, consumer durable loans and other financial services from 1,761 branches across 26 states and 7 Union Territories. Total AUM reached ₹2,54,392 Cr in Q1 FY27, growing 23% year-on-year, serving over 47.5 lakh customers. Vehicle Finance is the largest segment at 54% of FY26 revenue, with LAP contributing 19.6%.^[1][2]

Business segments

Vehicle Finance: segment revenue from operations of ₹16,335.41 Cr in FY26 vs ₹13,938.65 Cr in FY25; 54.0% of FY26 segment revenue.^[3][4][2]
Loan against Property: segment revenue of ₹5,985.88 Cr in FY26 vs ₹4,565.46 Cr in FY25; 19.6% of FY26 segment revenue.^[3][4][2]
Home Loans: segment revenue of ₹3,174.18 Cr in FY26 vs ₹2,501.31 Cr in FY25; 10.6% of FY26 segment revenue.^[3][4][2]
Others (SME, SBPL, CSEL, gold and other loans): segment revenue of ₹4,653.59 Cr in FY26 vs ₹4,003.19 Cr in FY25; 15.8% of FY26 segment revenue.^[3][4][2]
Between FY2019 and FY2026, Vehicle Finance's share of segment revenue fell by 22.3 percentage points while Others rose by 10.9 points.^[2]

Products and services

Product portfolio spans eight lines: vehicle finance, home loans, LAP, SME loans, SBPL, CSEL, gold loans and consumer durable loans, plus other financial services.^[3]
'Chola One' customer app has 10 lakh+ downloads supporting any-branch, any-product servicing in 11 languages; 'Gaadi Bazaar' dealer platform integrates vehicle trading, auctions and trade advances.^[3]
Solar funding launched as Chola's first Green Finance product, targeting commercial and industrial rooftop installations under the SME lending segment.^[3]
Consumer Durables lending operates via Samsung Finance Plus platform and open-market channels with 9 brand tie-ups covering ~75% of the mobile market, expanding into household appliances.^[5]
Vehicle finance is a fixed-rate book; FY26 annual report states a calibrated new/used vehicle mix focused on sustaining higher yields and margins.^[3]

Branch network and operations

Chola operates 1,761 branches across 26 states and 7 Union Territories as of FY26.^[3]
LAP operates 814 branches across 26 states; 76% of branches are in rural areas, serving over 87,077 customers in FY26.^[3]
Home Loans is serviced through 712 touchpoints across 22 states; SME Loans covers 22 regions with over 120 branches and partnerships with more than 40 OEMs (FY26).^[3]
SBPL is distributed across 400+ touchpoint locations in 11 states; Gold Loan operates ~119 branches in South and East India with average AUM of over ₹15 Cr per branch as of FY26.^[3]
Gold loan network expanded to 171 branches by Q1 FY27 with AUM of ₹2,143 Cr; 90% of gold loan customers are new to Chola.^[1]

Key operating metrics

Total AUM: ₹2,54,392 Cr in Q1 FY27 (+23% YoY); disbursements: ₹29,612 Cr in Q1 FY27 (+22% YoY).^[1]
NIM: 8.2% in Q1 FY27 (+42 bps YoY); cost of funds: 6.7% in Q1 FY27 (-30 bps YoY).^[1]
Net credit loss: 1.5% in Q1 FY27 (-30 bps YoY); Stage 3 (90 DPD): 3.29% in Q1 FY27 (+13 bps YoY).^[1]
GNPA (RBI): 4.50% and NNPA (RBI): 2.95% in Q1 FY27; capital adequacy ratio 19.81% with Tier 1 at 14.81% in Q1 FY27.^[1]
Pre-tax ROA: 3.7% in Q1 FY27, up from 3.1% in Q1 FY26.^[1]

Segment-level AUM and growth

Vehicle Finance AUM: ₹1,24,132 Cr in Q1 FY27 (+19% YoY); disbursements ₹16,503 Cr (+21% YoY). HCV grew 13%, LCV 18%, SCV 31%, PV 26%, 2W 20%, tractor 19%.^[1]
SME AUM: ₹9,923 Cr in Q1 FY27 (+39% YoY); SBPL AUM: ₹3,730 Cr (+40% YoY) with pre-tax ROA of 7.9% in Q1 FY27.^[1]
CSEL disbursements: ₹5,958 Cr in Q1 FY27 (+52% YoY); CSEL NCL fell from 6.7% to 4.7%; CSEL pre-tax ROA reached 3.3% in Q1 FY27.^[1]
Consumer Durables disbursements crossed ₹2,174 Cr in FY26 (+50% YoY), acquiring more than 8.3 lakh customers.^[3]

Customers and distribution

Chola serves over 47.5 lakh customers across India as of FY26.^[3]
Vehicle Finance: first-time buyers are ~30% of borrowers; rural women borrowers are ~12% of the total borrower base (FY26).^[3]
Home Loans: 17% of customers are first-time borrowers, average ticket ₹13.9 lakh; SBPL: 89,000+ live accounts, average ticket ₹4.49 lakh, average tenure 6 years as of FY26.^[3]

Expansion plans

Gold loan network to add 360 branches in FY27 (from 171), targeting AUM of ₹5,000 Cr by FY27 year-end.^[1]
HL and LAP each to add 100+ branches in FY27; HL at 715 touchpoints and LAP at 815 branches as of Q1 FY27.^[1]
Vehicle Finance to convert ~125 resident locations into full-fledged branches by end of FY27.^[1]

Management outlook stated in FY26 annual report

Management expects CV loan growth to moderate to 4 - 6% in FY27, largely due to a high base effect, and flags possible cash flow disruption among small transport operators from high fuel prices.^[3]
The West Asia conflict is causing MSME cash flow stress, with early signals of credit stress, per the FY26 annual report.^[3]
Self-employed Tier 3 - 8 SBPL customers face repayment stress from oil-driven inflation, per the FY26 annual report.^[3]

Recent developments

₹200 Cr of the original ₹2,000 Cr CCD issuance was converted to equity in July 2026; the remaining ₹430 Cr is scheduled for conversion in October 2026.^[1]
From Q1 FY27, disbursements are recorded at bank-account debit date rather than cheque-handover date, lowering reported LAP, HL, SBPL and used vehicle figures by a one-time stock amount.^[1]
PaySwiff Technologies (74.63% subsidiary) applied to RBI to act as a Payment Aggregator; gross income of ₹100.24 Cr and PBT of ₹6.72 Cr in FY26.^[3]
A precautionary management overlay of ₹200 Cr (9 bps of average assets) was added in Q4 FY26 for second-order risks from crude oil volatility, LPG supply and shipping disruptions.^[6]

Market Cap

₹1,24,768 Cr

High / Low

₹1,952 / 1,300

Stock P/E

22.5

Price / Book

4.3

Book Value

₹357

EPS

₹61.4

No. of Shares

85.2 Cr

ROE

19.3%

Debt / Equity

6.96

Sales

₹31,073 Cr

Net Profit

₹5,233 Cr

Promoter holding

49.3%

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Cholamandalam Investment & Finance Company Ltd(CHOLAFIN)

About

Business segments

Products and services

Branch network and operations

Key operating metrics

Segment-level AUM and growth

Customers and distribution

Expansion plans

Management outlook stated in FY26 annual report

Recent developments

Signal history

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AI Deep Dive

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Company data

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