BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.
IDBI Capital Report
Cholamandalam Investment and Finance Company Ltd.’s asset quality deteriorated slightly as gross stage-III assets stood at 3.96% versus 3.75% QoQ (3.8% YoY).
However, restructured assets stood at 2% of loan book; lower than guided in the range of 3-5% is the key positive.
Further, Covid-19 related provisions increased to 1.6% of assets versus 1.13% (Q3 FY21) due to unexpected second wave of Covid-19; earlier management guided for reversal of Covid-19 provisions.
Net interest margins declined by 20 basis points QoQ led by change in product mix resulted in lower yields.
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