Cholamandalam Investment Q4 Review - Shock Absorbers In Place: Prabhudas Lilladher
A man holds a two thousand Indian rupee banknote for a photograph in Mumbai, India. (Photographer: Dhiraj Singh/Bloomberg)

Cholamandalam Investment Q4 Review - Shock Absorbers In Place: Prabhudas Lilladher

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.

Prabhudas Lilladher Report

Q4 FY21 earnings miss for Cholamandalam Investment and Finance Company Ltd. came on the back of elevated provisions (credit costs: 2.9% versus 2.6% in Q3 FY21) led by additional Covid-19 led provisions (Rs 3.5 billion) due to second wave and higher opex (cost-income: 38% versus 27% in Q3) due to employee incentives.

The company witnessed marginal deterioration in asset quality at 3.96% gross non-performing asset versus 3.75% (Q3 FY21), but write-offs were limited to 1% and declined in absolute terms (Rs 600 million: Q4 FY21 versus Rs 900 million in Q3).

Click on the attachment to read the full report:

Prabhudas Lilladher Cholamandalam Q4FY21 Result Update.pdf

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