Cholamandalam Financial Holdings Ltd

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Cholamandalam Financial Holdings Ltd

₹ 1,288 1.05%
14 Jun - close price
cholafhl.com BSE: 504973 NSE: CHOLAHLDNG
About

Cholamandalam Financial Holdings Limited (CFHL) is a part of the Murugappa Group. The Co. is a Core Investment Company registered with the RBI, offering a diverse range of financial products and risk management services to individual and corporate customers through its group companies. [1]

Key Points

Services
NBFC: The Co. provides financial services through its subsidiary Cholamandalam Investment and Finance Company Limited (CIFCL) by offering vehicle finance, home loans, loan against property, etc to a wide range of customers, wherein it holds 45.41% as of June 2022.
General Insurance: The Co. offers a wide range of insurance including motor, travel, health, accident, home, and other types of insurance for corporate customers through its subsidiary Cholamandalam MS General Insurance Company Limited (CMSGICL), wherein it holds 60% as on June 2022.
Risk Management & Engineering Solutions: The Co. provides risk management and engineering solutions in the field of Safety, Health, and Environment through its Joint Venture with Mitsui Sumitomo Insurance Group, Japan through Cholamandalam MS Risk Services Ltd (CMSRSL), wherein it holds 49.5% as on June 2022. [1]

Website BSE NSE
  • Market Cap ₹ 24,183 Cr.
  • Current Price ₹ 1,288
  • High / Low ₹ 1,300 / 863
  • Stock P/E 392
  • Book Value ₹ 68.6
  • Dividend Yield 0.04 %
  • ROCE 6.42 %
  • ROE 4.89 %
  • Face Value ₹ 1.00
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Pros

  • Company has reduced debt.
  • Company is almost debt free.
  • Company has been maintaining a healthy dividend payout of 17.7%

Cons

  • Stock is trading at 18.8 times its book value
  • The company has delivered a poor sales growth of 3.19% over past five years.
  • Company has a low return on equity of 4.81% over last 3 years.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Sector: Finance Industry: Finance & Investments

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024
51 2 28 2 51 2 29 2 51 3 29 3 52
1 1 0 0 1 1 1 0 1 1 1 1 1
Operating Profit 50 2 28 2 50 1 28 2 50 2 28 2 50
OPM % 98% 75% 98% 79% 98% 71% 98% 79% 98% 75% 98% 78% 97%
0 0 0 0 0 0 0 0 0 0 0 0 0
Interest 5 3 3 3 2 2 2 2 2 1 1 1 1
Depreciation 0 0 0 0 0 0 0 0 0 0 0 0 0
Profit before tax 44 -1 25 -1 47 -0 26 0 48 1 28 1 49
Tax % 28% 0% 15% -71% 23% 0% 15% 25% 25% 25% 16% 25% 25%
32 -1 21 -1 36 -0 22 0 36 1 23 1 37
EPS in Rs 1.70 -0.05 1.14 -0.07 1.93 -0.01 1.18 0.00 1.91 0.04 1.23 0.05 1.96
Raw PDF

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
3,575 3,539 3,836 4,769 40 65 74 91 58 84 84 86
3,242 3,200 3,547 3,600 4 3 3 2 3 3 3 3
Operating Profit 333 339 289 1,169 36 61 71 88 55 81 81 83
OPM % 9% 10% 8% 25% 91% 95% 96% 97% 96% 97% 97% 96%
0 12 103 3 0 0 0 0 0 0 0 0
Interest 107 125 140 137 0 0 0 1 22 10 7 4
Depreciation 80 84 97 111 0 0 0 0 0 0 0 0
Profit before tax 147 141 155 924 36 61 71 87 34 71 74 79
Tax % 29% 33% 22% 21% 0% 3% 6% 4% 36% 22% 22% 22%
104 94 121 730 36 59 67 83 22 56 58 62
EPS in Rs 5.57 5.03 6.46 38.97 1.94 3.17 3.54 4.44 1.16 2.96 3.08 3.29
Dividend Payout % 36% 40% 31% 13% 65% 39% 35% 15% 48% 19% 18% 17%
Compounded Sales Growth
10 Years: -31%
5 Years: 3%
3 Years: 14%
TTM: 3%
Compounded Profit Growth
10 Years: -4%
5 Years: -1%
3 Years: 42%
TTM: 7%
Stock Price CAGR
10 Years: 20%
5 Years: 22%
3 Years: 28%
1 Year: 40%
Return on Equity
10 Years: 5%
5 Years: 5%
3 Years: 5%
Last Year: 5%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Equity Capital 37 37 37 37 19 19 19 19 19 19 19 19
Reserves 1,144 1,201 1,283 1,902 950 1,001 1,046 1,100 1,122 1,168 1,218 1,269
1,302 1,363 1,421 1,374 0 0 0 201 150 100 50 0
655 773 822 865 2 3 3 3 12 3 2 2
Total Liabilities 3,138 3,375 3,563 4,178 971 1,023 1,068 1,322 1,303 1,290 1,288 1,289
632 694 904 832 0 0 0 0 0 0 0 0
CWIP 160 197 36 56 0 0 0 0 0 0 0 0
Investments 1,444 1,506 1,523 1,461 914 940 956 1,278 1,279 1,280 1,280 1,279
903 978 1,100 1,829 57 83 112 44 24 10 8 10
Total Assets 3,138 3,375 3,563 4,178 971 1,023 1,068 1,322 1,303 1,290 1,288 1,289

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
301 279 167 135 -19 66 -34 -161 52 58 53 67
-697 -186 -54 794 -608 0 0 -0 0 -0 0 -0
343 -96 -117 -220 -106 -11 -21 170 -50 -60 -59 -61
Net Cash Flow -53 -3 -4 709 -733 55 -55 9 2 -2 -6 6

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Debtor Days 40 46 45 38 0 0 0 0 0 0 0 0
Inventory Days 58 62 70 69
Days Payable 78 98 94 92
Cash Conversion Cycle 19 10 22 14 0 0 0 0 0 0 0 0
Working Capital Days -18 -27 -5 -39 478 -17 -16 -12 -75 -13 -5 -4
ROCE % 11% 10% 10% 8% 2% 6% 7% 7% 4% 6% 6%

Shareholding Pattern

Numbers in percentages

Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024
48.80% 48.62% 48.62% 48.62% 48.62% 48.61% 48.61% 48.39% 48.39% 47.37% 47.37% 47.37%
11.12% 11.35% 12.14% 11.66% 11.82% 11.76% 11.60% 11.99% 11.31% 12.92% 12.87% 13.78%
27.25% 25.96% 25.32% 25.64% 25.64% 26.54% 26.57% 26.56% 27.15% 26.71% 25.96% 25.24%
0.00% 0.00% 0.00% 0.00% 0.00% 0.46% 0.46% 0.46% 0.46% 0.46% 0.46% 0.46%
12.83% 14.07% 13.92% 14.09% 13.93% 12.62% 12.78% 12.59% 12.68% 12.53% 13.34% 13.15%
No. of Shareholders 21,37621,34921,22621,27922,17220,96221,28921,67823,17030,62343,35832,532

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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