Cholamandalam Financial Holdings Ltd(CHOLAHLDNG)

NSE: CHOLAHLDNGBSE: 504973

₹ 1,271-3.57%refreshed 23 Oct, 03:30 pm ISTMarket cap: ₹ 23,867 crNext results: 6 Nov 2026Website: www.cholafhl.comUpdated: 24 Oct 2026

About

Cholamandalam Financial Holdings Limited (CFHL) is a Murugappa Group Core Investment Company registered with RBI, holding 43.8% in CIFCL (NBFC), 60% in CMSGICL (general insurance) and 49.5% in CMSRSL (EHS consulting). CIFCL's AUM stood at Rs 2,42,630 crore as of March 31, 2026, and CMSGICL wrote Gross Written Premium of Rs 9,110 crore in FY26.^[1][2][3][4]

Business segments

CMSRSL, the EHS consulting JV with Mitsui Sumitomo Insurance Group (49.5% stake), operates with 550+ professionals across 100+ locations in India, the Middle East and beyond.^[1]

CIFCL loan book and products

CIFCL offers vehicle finance, home loans, LAP, SME loans, consumer & small enterprise loans, SBPL, gold loans, consumer durables lending, stock broking, insurance agency and payment aggregation.^[1]
LAP AUM grew 26% YoY to Rs 52,295 crore in FY26 (disbursements Rs 20,459 crore, +14% YoY; five-year CAGR of 41%).^[1]
Home Loans AUM reached Rs 22,688 crore (+23% YoY) with over 1.68 lakh live accounts (+20% YoY) and disbursements of Rs 7,363 crore in FY26.^[1]
SME loan AUM grew 41% to Rs 9,338 crore in FY26 across 22 regions and 120+ branches, serving approximately 12,200 MSME customers.^[1]
Gold Loans launched in FY26; AUM reached Rs 1,804 crore from over 26,000 customers across ~119 branches in South and East India as of March 31, 2026.^[1]
Consumer Durables disbursements grew 50% in FY26 with new brand additions including Vivo, Oppo, Realme, Xiaomi, Haier, Whirlpool, Havells-Lloyd and others.^[1]

CIFCL operations and reach

CIFCL operates 1,761 branches across 26 States and 7 Union Territories, serving over 47.5 lakh customers with focus on Tier III to Tier VI markets.^[1]
CIFCL's capital adequacy ratio stood at 19.21% as of March 31, 2026, against the regulatory minimum of 15%.^[1]
CIFCL's SBPL business had over 89,000 live accounts with AUM of Rs 3,537 crore distributed across 400+ touchpoint locations in 11 states as of March 31, 2026.^[1]
CIFCL workforce is 73,689, including off-roll employees.^[1]

CIFCL key operating numbers

Vehicle Finance disbursements grew 21% YoY to Rs 16,503 crore in Q1 FY27; loan losses improved to 2.0% from 2.2% in Q1 FY26.^[5]
CIFCL GNPA stood at 4.50% as of June 2026, compared with 4.36% at Q4 FY26 and 4.63% at Q3 FY26.^[5][4][6]
Home Loans target segment is lower-middle income; nearly 88% of the portfolio comprises business owners with semi-formal income.^[1]

CMSGICL operations and distribution

CMSGICL covers 23 States and 5 Union Territories with 700+ touchpoints, 152 branches, a cashless network of 13,500+ hospitals and 17,800+ garages.^[1]
CMSGICL issued 1.06 crore policies and serviced over 45 lakh claims in FY26.^[1]
CMSGICL's investment portfolio was Rs 18,382 crore as of Q2 FY26, with equity allocation at 7.9% of corpus as of June 2026 (up from 5.6% in June 2025).^[7][5]
CMSGICL holds CRISIL AA+ Stable and ICRA AA Stable ratings; solvency ratio was 1.93x in Q1 FY27 (1.96x at FY26 end), above the IRDAI mandated 1.50x.^[1][5]

CMSGICL key operating numbers

GWP grew 6.7% YoY to Rs 2,131 crore in Q1 FY27; GDPI grew 2.6% to Rs 1,860 crore. Full-year FY26 GWP was Rs 8,904 crore (+6.9% YoY).^[5][4]
Combined ratio deteriorated to 120.4% in Q1 FY27 from 114.8% in Q1 FY26, driven by motor reserve strengthening, elevated motor OD claims, and a large fire loss of Rs 12.4 crore net.^[5]
Motor OD loss ratio worsened from 73.6% in FY25 to 84.1% in FY26 and further to 86.3% in Q1 FY27. Management has initiated corrective measures including portfolio mix optimisation and NCB sourcing enhancement.^[5]
Two-wheeler share of motor mix dropped from 19.6% to 10.6% over FY23 - FY26, reducing premium by over Rs 225 crore; car share rose to 49% of motor mix.^[4]
Expense of Management (EOM) on GWP (1/n basis) was 30.46% for FY26 (29.12% ex-1/n), completing the regulatory glide path at the 30% ceiling.^[4]
Long-term non-motor advance premium book more than doubled YoY to Rs 578 crore as of March 2026 from Rs 250 crore at March 2025.^[4]

Recent developments

Rajive Kumaraswami took over as MD of CMSGICL from V. Suryanarayanan effective June 1, 2026.^[4]
CMSGICL deployed the motor issuance platform across the bank channel and launched the Xceed digital platform for agents and sales teams in FY27; interface-led motor OD issuance reached 97% in Q1 FY27 vs 81% in Q1 FY26.^[5]
CMSGICL's Board resolved to transition statutory accounting to Ind AS (IFRS 17) from April 1, 2027 after receiving regulatory forbearance; financial impact assessment is ongoing.^[5][4]
NATCAT events of June 2026 resulted in an estimated industry loss of Rs 3,000 - 4,000 crore, which management expects to drive improved pricing discipline in property and commercial lines at the next reinsurance renewal cycle.^[5]
Health portfolio GWP fell in Q1 FY27 (retail -19% YoY to Rs 70 crore; group -26% YoY to Rs 121 crore) due to deliberate pricing corrections in the PSU bank group health platform.^[5]

Market Cap

₹23,867 Cr

High / Low

₹2,061 / 1,270

Stock P/E

8.9

Price / Book

1.5

Book Value

₹823

EPS

₹130.0

No. of Shares

18.78 Cr

ROCE

9.2%

ROE

17.5%

Sales

₹39,073 Cr

Net Profit

₹5,485 Cr

Promoter holding

46.4%

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Cholamandalam Financial Holdings Ltd(CHOLAHLDNG)

About

Business segments

CIFCL loan book and products

CIFCL operations and reach

CIFCL key operating numbers

CMSGICL operations and distribution

CMSGICL key operating numbers

Recent developments

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