Sharekhan's research report on Cholamandalam Investment and Finance Company
Moreover, CIFC remains a key beneficiary in the lower interest rate regime as NIMs are likely to improve led by lower cost of funds along with higher share of fixed-rate vehicle book. Asset quality performance has been broadly satisfactory unlike peers, although new segments (CESL, SME, SBPL) remain a key monitorable as it is still an unseasoned loan book. Stock trades at 5.4x/4.3x/3.4x FY2025E/FY2026E/FY2027E BV estimates.
Outlook
We maintain buy on Cholamandalam with a revised PT of Rs. 1,850 (valuing at 5.0x/4.0x of FY26E/FY27E BV estimates). We believe strong growth outlook and superior profitability would support premium valuation.
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Cholamandalam Investment and Finance Company - 18092024 - khan
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