Cholafin at new high

about 8 months ago
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Cholamandalam Investment & Finance Company Ltd (Cholafin), opened 3.5% higher at Rs.711.10 and went on to hit a new 52-week high at Rs.749.10. Volumes jumped up more than 7-times.

The market has cheered its performance update.

The company said:

1. Disbursements for Q4 FY 22 stood approximately at Rs.12718 Crores as against Rs.8071 Crores in Q4 of FY 21 which is a growth of 58% and for FY 22 stood approximately at Rs.35,489 Crores as against Rs.26043 Crores which is a growth of 36%.

2. Disbursements in Vehicle Finance business grew by 43% to approximately Rs.8785 Crores in Q4 of FY 22 and by 26% in FY 22 to approximately Rs.25,439 Crores. Loan Against Property business grew disbursements by 57% to approximately Rs.1870 Crores in Q4 of FY 22 and by 53% to approximately Rs.5536 Crores in FY 22. Disbursements in Home Loans stood at Rs.549 Crores for Q4 of FY 22 and Rs.1896 Crores in FY 22 which is a growth of 2% and 23% respectively YoY. Apart from this, the new businesses launched last year together made disbursals of Rs.1514 Crores for Q4 of FY 22 and Rs.2618 Cr in FY 22.

3. Collection Efficiency on billing improved across all Product segments and stood at 138% in Q4 of FY 22 as against 120% in Q4 of FY 21. This will result in strengthening the asset quality position of the Company.

4. The Company continues to hold a strong liquidity position with Rs.5575 Crores as cash balance as at end of March 2022 (including Rs.1500 Crores invested in Gsec shown under investments), with a total liquidity position of Rs. 7,400 Crores (including undrawn sanctioned lines). The ALM is comfortable with no negative cumulative mismatches across all time buckets.

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