Cholamandalam Financial Holdings (CHOLAHLDNG) Q2 25/26 earnings summary

Executive summary

• Consolidated revenue for Q2 FY26 rose 17% YoY to ₹9,589 Cr, with PAT up 8% to ₹1,214 Cr and EPS at ₹29.28; H1 FY26 revenue was ₹18,972 Cr, PAT ₹2,474 Cr, and EPS ₹60.09.

• Board approved unaudited standalone and consolidated results for the quarter and half year ended September 30, 2025.

• Group maintains a diversified presence across agriculture, engineering, and financial services, with a market cap of $51.9B as of September 2025.

• Assets under management grew 21% YoY to ₹2,14,906 Cr as of September 30, 2025.

• Insurance premium growth moderated due to loss of crop business and market effects.

Financial highlights

• Vehicle Finance disbursements grew 10% in Q2 FY26 and 8% in H1 FY26 YoY; AUM up 17% YoY.

• Loan Against Property disbursements up 8% in Q2 FY26 and 14% in H1 FY26; AUM up 33% YoY.

• Home Loans AUM up 28% YoY, with PBT up 28% in Q2 FY26 and 20% in H1 FY26.

• General Insurance GWP for H1 FY26 at ₹4,217 Cr, up 2% YoY; solvency ratio at 2.11x.

• Standalone Q2 FY26 total income: ₹30.07 Cr; PAT: ₹27.16 Cr.

Outlook and guidance

• Growth in Vehicle Finance expected to continue, supported by infrastructure spending and rural demand.

• LAP and Home Loans to expand in tier 3/4 markets and affordable housing, leveraging government initiatives.

• General Insurance sector remains underpenetrated, with long-term growth potential from regulatory support and product innovation.

• Board approved reclassification of a promoter group entity to public shareholder, subject to regulatory approval.