Cholamandalam Investment and Finance Company (511243) Q2 24/25 earnings summary

Executive summary

• Disbursements for Q2 FY25 were INR 24,314 crores, up 13% year-on-year; H1 disbursements were INR 48,646 crores, up 17% year-on-year.

• Total AUM reached INR 1,77,426 crores, a 33% year-on-year increase.

• Net income for Q2 was INR 3,238 crores, up 37% year-on-year; H1 net income was INR 6,271 crores, up 40% year-on-year.

• PAT for Q2 was INR 963 crores, up 26% year-on-year; H1 PAT was INR 1,905 crores, up 28% year-on-year.

• Consolidated total income for Q2 FY25 was ₹6,322.34 crore, up from ₹4,695.16 crore in Q2 FY24, with consolidated net profit after tax at ₹967.80 crore.

Financial highlights

• Standalone revenue from operations for Q2 FY25 was ₹6,226.60 crore, up from ₹4,434.95 crore in Q2 FY24.

• Standalone profit before tax for Q2 FY25 was ₹1,298.58 crore, up from ₹1,020.75 crore in Q2 FY24.

• Vehicle finance disbursements grew 5% in Q2 and 9% in H1 year-on-year.

• LAP disbursements grew 35% in Q2 and 39% in H1 year-on-year.

• Home loan disbursements increased 16% in Q2 and 19% in H1 year-on-year.

Outlook and guidance

• Disbursement growth moderated to 13% for the quarter, with AUM growth expected to normalize closer to 25% guidance for the full year.

• Credit cost guidance for FY25 is 1.3% for the full year, with improvement expected in Q4.

• ROA is expected to improve to 3.2–3.3% for the year, with medium-term guidance unchanged at 3.5% over the cycle.

• Capital adequacy ratio stood at 19.5% as of September 30, 2024.

• Liquidity coverage ratio improved to 202% in Q2 FY25, up from 149% in Q2 FY24.