Cholamandalam Investment and Finance: Ready for next leg of growth
Chola's excellent control over credit cost in Q2 led to a 40 percent growth in profit after tax at Rs 607 crore
November 12, 2021 / 11:46 AM IST
PRO Only Highlights
Quarterly performance largely backed by improved realisations
Medium-term triggers China plus and protectionist measures for tyre industry
Valuations not inexpensive; but improved medium-term outlook
Cholamandalam Investment and Finance Company (CIFC; CMP: Rs 639; Market Cap: Rs 52,473 crore), an NBFC focused on rural and semi-urban markets, has put up an impressive show during the second quarter of the current fiscal, logging a healthy rise in after-tax profit and recording the highest ever disbursement in the last 10 quarters. A part of the Murugappa group of companies, CIFC started its operations as an equipment finance company and later diversified into vehicle finance, loan against...