Cholamandalam Investment Posts Healthy Q3 Operating Performance: Motilal Oswal
A cashier counts Indian rupee banknotes in Mumbai, India. (Photographer: Dhiraj Singh/Bloomberg)

Cholamandalam Investment Posts Healthy Q3 Operating Performance: Motilal Oswal

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.

Motilal Oswal Report

Cholamandalam Investment and Finance Company Ltd. reported 5% YoY growth in profit after tax to Rs 4.1 billion (in-line).

Operating profit grew 51% YoY, 11% above our expectation. However, higher-than-expected provisions (Rs 4.45 billion versus Rs 3.5 billion) drove PAT in-line.

We expect the company to deliver asset under management growth in the low-to-mid teens in the medium term.

The margin should expand given lower cost of funds and reduced liquidity on the balance sheet.

The 100 basis points QoQ increase in the proforma gross non-performing loan ratio is commendable in the current environment.

Click on the attachment to read the full report:

Motilal Oswal Cholamandalam Investment Q3FY21 Result Update.pdf


This report is authored by an external party. BloombergQuint does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BloombergQuint.

Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

BQ Install

Bloomberg Quint

Add BloombergQuint App to Home screen.