CHOLAMANDALAM INVESTMENT AND FINANCE COMPANY LIMITED

Financials Cholamandalam Investment and Finance Company Limited

Equities

CHOLAFIN

INE121A01024

Consumer Lending

Market Closed - Bombay S.E. Other stock markets 11:00:49 16/07/2025 BST			5-day change	1st Jan Change
1,558.75 ^INR	+0.09%		+2.32%	+31.37%

06-26	INDIA STOCKS-Reliance, financials lead rise in Indian shares	RE
06-12	Cholamandalam reports rise in disbursements and AUM

Projected Income Statement: Cholamandalam Investment and Finance Company Limited

Fiscal Period: March	2021	2022	2023	2024	2025	2026	2027	2028
Net sales ¹	49,437	58,400	72,292	99,857	135,699	168,603	205,358	246,799
Change	-	18.13%	23.79%	38.13%	35.89%	24.25%	21.8%	20.18%
EBITDA ¹	-	28,005	33,788	42,110	54,277	70,684	84,461	98,116
Change	-	-	20.65%	24.63%	28.89%	30.23%	19.49%	16.17%
EBIT ¹	33,603	37,712	12,731	59,039	82,311	102,090	125,144	152,355
Change	-	12.23%	-66.24%	363.75%	39.42%	24.03%	22.58%	21.74%
Interest Paid ¹	-	-	-	-	-124,848	-156,358	-189,452	-
Earnings before Tax (EBT) ¹	20,384	28,909	35,997	45,821	57,369	72,922	91,449	110,566
Change	-	41.82%	24.52%	27.29%	25.2%	27.11%	25.41%	20.9%
Net income ¹	15,149	21,467	26,662	34,228	42,585	54,504	68,558	82,834
Change	-	41.71%	24.2%	28.38%	24.42%	27.99%	25.79%	20.82%
Announcement Date	07/05/21	05/05/22	03/05/23	30/04/24	25/04/25	-	-	-

¹INR in Million

Estimates

Fiscal Period: March	2021 Q1	2021 Q2	2021 Q3	2021 Q4	2022 Q1	2022 Q2	2022 Q3	2022 Q4	2023 Q1	2023 Q2	2023 Q3	2023 Q4	2024 Q1	2024 Q2	2024 Q3	2024 Q4	2025 Q1	2025 Q2	2025 Q3	2025 Q4	2026 Q1	2026 Q2	2026 Q3	2026 Q4
Net sales ¹	9,830	12,546	13,644	13,417	13,632	13,929	14,842	15,606	16,401	16,974	18,317	20,601	21,265	23,667	25,207	29,127	30,333	32,376	35,406	37,584	37,965	41,147	43,754	47,340
Change	-	27.63%	8.75%	-1.67%	1.6%	2.18%	6.55%	5.15%	5.09%	3.49%	7.92%	12.47%	3.23%	11.29%	6.51%	15.55%	4.14%	6.74%	9.36%	6.15%	1.01%	8.38%	6.34%	8.2%
EBITDA ¹	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	19,840	-	-	24,481	-	-	-
Change	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
EBIT ¹	6,372	8,996	9,956	8,279	9,926	8,750	9,525	9,120	10,604	10,362	10,797	12,731	13,399	15,910	15,157	16,278	18,499	19,221	21,276	23,315	23,387	25,102	26,510	28,474
Change	-	41.19%	10.68%	-16.84%	19.9%	-11.86%	8.87%	-4.25%	16.26%	-2.27%	4.19%	17.91%	5.25%	18.74%	-4.73%	7.39%	13.65%	3.9%	10.69%	9.58%	0.31%	7.33%	5.61%	7.41%
Charge d'intérêts	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Earnings before Tax (EBT) ¹	5,810	5,820	5,511	3,244	4,407	8,165	7,043	9,294	7,617	7,581	9,208	11,591	9,675	10,208	11,569	14,369	12,685	12,986	14,636	17,062	16,155	16,541	19,136	22,772
Change	-	0.17%	-5.31%	-41.14%	35.86%	85.27%	-13.75%	31.97%	-18.04%	-0.48%	21.47%	25.88%	-16.53%	5.5%	13.34%	24.2%	-11.72%	2.37%	12.71%	16.58%	-5.32%	2.39%	15.69%	19%
Net income ¹	4,309	4,319	4,089	2,432	3,268	6,065	5,238	6,896	5,657	5,634	6,843	8,528	7,260	7,625	8,762	10,581	9,422	9,630	10,865	12,667	12,267	13,058	14,246	15,590
Change	-	0.23%	-5.34%	-40.52%	34.37%	85.6%	-13.64%	31.65%	-17.97%	-0.4%	21.46%	24.63%	-14.87%	5.02%	14.91%	20.77%	-10.95%	2.21%	12.82%	16.58%	-3.16%	6.45%	9.1%	9.43%
Announcement Date	30/07/20	29/10/20	29/01/21	07/05/21	30/07/21	29/10/21	01/02/22	05/05/22	29/07/22	01/11/22	31/01/23	03/05/23	01/08/23	02/11/23	25/01/24	30/04/24	26/07/24	25/10/24	31/01/25	25/04/25	-	-	-	-

¹INR in Million

Estimates

Forecast Balance Sheet: Cholamandalam Investment and Finance Company Limited

Fiscal Period: March	2021	2022	2023	2024	2025	2026	2027	2028
Net Debt ¹	-	-	943,946	1,301,534	1,655,454	1,993,613	2,382,409	2,854,027
Change	-	-	-	37.88%	27.19%	20.43%	19.5%	19.8%
Announcement Date	07/05/21	05/05/22	03/05/23	30/04/24	25/04/25	-	-	-

¹INR in Million

Estimates

Cash Flow Forecast: Cholamandalam Investment and Finance Company Limited

Fiscal Period: March	2020	2021	2022	2023	2024	2025
CAPEX ¹	715.6	328.9	959.1	1,894	10,762	1,995
Change	-	-54.04%	191.61%	97.53%	468.09%	-81.46%
Free Cash Flow (FCF) ¹	-	-	-	-	-	-
Change	-	-	-	-	-	-
Announcement Date	08/07/20	08/07/21	07/07/22	27/07/23	04/07/24	09/07/25

¹INR in Million

Estimates

Forecast Financial Ratios: Cholamandalam Investment and Finance Company Limited

Fiscal Period: March	2021	2022	2023	2024	2025	2026	2027	2028
Profitability
EBITDA Margin (%)	-	47.95%	46.74%	42.17%	40%	41.92%	41.13%	39.76%
EBIT Margin (%)	67.97%	64.58%	17.61%	59.12%	60.66%	60.55%	60.94%	61.73%
EBT Margin (%)	41.23%	49.5%	49.79%	45.89%	42.28%	43.25%	44.53%	44.8%
Net margin (%)	30.64%	36.76%	36.88%	34.28%	31.38%	32.33%	33.38%	33.56%
FCF margin (%)	-	-	-	-	-	-	-	-
FCF / Net Income (%)	-	-	-	-	-	-	-	-
Profitability
ROA	2.19%	2.74%	2.72%	2.54%	2.38%	2.43%	2.52%	2.54%
ROE	16.9%	20.19%	20.51%	20.22%	19.72%	20.15%	20.32%	20.25%
Financial Health
Leverage (Debt/EBITDA)	-	-	27.94x	30.91x	30.5x	28.2x	28.21x	29.09x
Debt / Free cash flow	-	-	-	-	-	-	-	-
Capital Intensity
CAPEX / Current Assets (%)	-	-	-	-	-	-	-	-
CAPEX / EBITDA (%)	-	-	-	-	-	-	-	-
CAPEX / FCF (%)	-	-	-	-	-	-	-	-
Items per share
Cash flow per share ¹	-107.8	-68.2	-	-	-	-	-	-
Change	-	36.73%	-	-	-	-	-	-
Dividend per Share ¹	2	2	2	2	2	2.85	3.327	4.2
Change	-	0%	0%	0%	0%	42.52%	16.71%	26.25%
Book Value Per Share ¹	116.5	142.5	173.8	232.7	280.9	349.9	427.1	525.6
Change	-	22.3%	21.96%	33.88%	20.68%	24.59%	22.07%	23.04%
EPS ¹	18.45	26.11	32.4	41.09	50.55	64.13	80.72	97.06
Change	-	41.52%	24.09%	26.82%	23.02%	26.87%	25.87%	20.24%
Nbr of stocks (in thousands)	820,035	821,041	822,040	839,969	841,310	841,177	841,177	841,177
Announcement Date	07/05/21	05/05/22	03/05/23	30/04/24	25/04/25	-	-	-