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

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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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