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Cholamandalam Investment and Finance Co. Ltd.
(CHOLAFIN)
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Rating:63Neutral
Price Target:
₹2,009.00
▲(12.83% Upside)
Action:Reiterated
Date:08/06/26
The score is driven primarily by solid fundamental growth and profitability, tempered by elevated balance-sheet leverage and historically inconsistent cash flows. Technicals are supportive with price above key moving averages and positive momentum, while valuation appears somewhat expensive with a low dividend yield.
Positive Factors
Revenue & Profitability Growth
Cholamandalam has delivered multi-year revenue growth with a step-up in 2026 and consistent mid‑teens net margins. Durable top‑line expansion and steady margins support predictable earnings generation and reinvestment capacity, underpinning medium‑term loan growth and operational scalability.
Negative Factors
High leverage
Debt roughly six to seven times equity makes the balance sheet sensitive to funding shocks and interest‑rate moves. For an NBFC that relies on external wholesale funding, elevated leverage reduces financial flexibility, magnifies provisioning impacts in downturns, and raises refinancing risk over the medium term.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue & Profitability Growth
Cholamandalam has delivered multi-year revenue growth with a step-up in 2026 and consistent mid‑teens net margins. Durable top‑line expansion and steady margins support predictable earnings generation and reinvestment capacity, underpinning medium‑term loan growth and operational scalability.
Read all positive factors
Cholamandalam Investment and Finance Co. Ltd. (CHOLAFIN) vs. iShares MSCI India ETF (INDA)
Market Cap
₹1.58T
Dividend Yield0.11%
Average Volume (3M)165.76K
Price to Earnings (P/E)27.2
Beta (1Y)1.66
Revenue Growth19.87%
EPS Growth28.06%
CountryIN
Employees38,235
SectorGeneral
Sector StrengthN/A
IndustryFinancial - Credit Services
Share Statistics
EPS (TTM)67.83
Shares Outstanding854,022,950
10 Day Avg. Volume20,866
30 Day Avg. Volume165,757
Financial Highlights & Ratios
PEG Ratio0.98
Price to Book (P/B)3.75
Price to Sales (P/S)3.63
P/FCF Ratio7.71
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)79.38
Revenue Forecast (FY)₹208.21B
Cholamandalam Investment and Finance Co. Ltd. Business Overview & Revenue Model
Company Description
Cholamandalam Investment and Finance Company Limited (CHOLAFIN.NS) operates as a prominent non-banking financial institution within India, delivering a comprehensive suite of financial services. Its core operations are structured around vehicle fi...
How the Company Makes Money
CHOLAFIN makes money primarily through lending-related income and fees. The company raises funds (e.g., via bank borrowings, market instruments such as bonds/debentures, and other financing sources typical for NBFCs) and deploys this capital into ...
Cholamandalam Investment and Finance Co. Ltd. Financial Statement Overview
Summary
Income Statement
78
Positive
Balance Sheet
56
Neutral
Cash Flow
42
Neutral
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 331.42B | 315.39B | 258.87B | 191.52B | 128.79B | 101.43B |
| Gross Profit | 178.54B | 165.87B | 134.11B | 99.39B | 71.45B | 58.64B |
| EBITDA | 88.56B | 72.61B | 59.86B | 48.03B | 37.36B | 30.08B |
| Net Income | 57.51B | 52.33B | 42.63B | 34.20B | 26.65B | 21.54B |
Balance Sheet | ||||||
| Total Assets | 0.00 | 2.45T | 2.02T | 1.57T | 1.14T | 824.79B |
| Cash, Cash Equivalents and Short-Term Investments | 0.00 | 146.95B | 95.01B | 43.94B | 9.12B | 26.99B |
| Total Debt | 0.00 | 2.11T | 1.75T | 1.34T | 973.58B | 692.84B |
| Total Liabilities | -304.58B | 2.15T | 1.78T | 1.37T | 992.81B | 707.10B |
| Stockholders Equity | 304.58B | 304.58B | 236.69B | 195.93B | 143.46B | 117.69B |
Cash Flow | ||||||
| Free Cash Flow | -104.75B | 148.35B | -326.13B | -367.59B | -272.82B | -56.67B |
| Operating Cash Flow | -103.19B | 151.00B | -324.13B | -356.83B | -271.05B | -55.71B |
| Investing Cash Flow | -13.41B | -476.75B | -29.48B | -28.55B | -21.48B | 16.40B |
| Financing Cash Flow | 121.01B | 356.10B | 397.95B | 384.71B | 274.66B | 51.50B |
Cholamandalam Investment and Finance Co. Ltd. Technical Analysis
Positive
1780.55
Price Trends
1835.62
Positive
1718.18
Positive
1680.98
Positive
Market Momentum
-1.40
Positive
50.67
Neutral
58.85
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:CHOLAFIN, the sentiment is Positive. The current price of 1780.55 is below the 20-day moving average (MA) of 1858.78, below the 50-day MA of 1835.62, and above the 200-day MA of 1680.98, indicating a neutral trend. The MACD of -1.40 indicates Positive momentum. The RSI at 50.67 is Neutral, neither overbought nor oversold. The STOCH value of 58.85 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for IN:CHOLAFIN.
Cholamandalam Investment and Finance Co. Ltd. Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
68 Neutral | ₹2.44T | 18.15 | ― | 1.05% | 10.38% | 9.95% | |
63 Neutral | ₹1.58T | 27.21 | ― | 0.11% | 19.87% | 28.06% | |
63 Neutral | ₹780.10B | 24.32 | ― | 0.89% | 12.56% | 19.25% | |
58 Neutral | ₹395.55B | 46.82 | ― | 0.84% | 73.47% | ― | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
55 Neutral | ₹498.80B | 15.19 | ― | 2.48% | 13.60% | 30.32% | |
55 Neutral | ₹522.45B | 23.39 | ― | 0.85% | 13.67% | 15.62% |
* General Sector Average
IN:CHOLAFIN
Cholamandalam Investment and Finance Co. Ltd.
1,845.00
334.67
22.16%
IN:LTF
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Mahindra & Mahindra Financial Services Ltd.
355.95
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34.35%
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Poonawalla Fincorp Limited
444.45
5.30
1.21%
IN:SHRIRAMFIN
Shriram Finance Limited
1,028.00
402.13
64.25%
IN:SUNDARMFIN
Sundaram Finance Limited
4,714.65
275.68
6.21%
Cholamandalam Investment and Finance Co. Ltd. Corporate Events
Cholamandalam Investment and Finance Shareholders Clear All Resolutions at 48th AGM
Jul 29, 2026
Cholamandalam Investment and Finance Company Limited has reported to the National Stock Exchange of India and BSE the voting results of its 48th Annual General Meeting, held via video conference on July 28, 2026. The company stated that, based on ...
Cholamandalam Files SEBI Compliance Certificate for Q1 FY2026
Jul 15, 2026
Cholamandalam Investment and Finance Company Limited has submitted a regulatory certificate for the quarter ended 30 June 2026, confirming compliance with Regulation 74(5) of the SEBI (Depositories and Participants) Regulations, 2018. The filing, ...
Cholamandalam Allots 71,465 Equity Shares Under ESOP Scheme
Jul 8, 2026
Cholamandalam Investment and Finance Company Limited has approved the allotment of 71,465 new equity shares following the exercise of employee stock options by eligible staff. The shares, each with a face value of Rs. 2, are being issued under the...
Cholamandalam Converts CCDs Into Equity, Expands Share Capital
Jul 8, 2026
Cholamandalam Investment and Finance Company Limited has approved the conversion of 20,000 compulsorily convertible debentures, each with a face value of Rs. 1,00,000, into 13,54,940 equity shares of Rs. 2 each at a conversion price of Rs. 1,476.0...
Cholamandalam Sends FY26 Annual Report, Sets Stage for 48th AGM
Jul 7, 2026
Cholamandalam Investment and Finance Company Limited operates in India’s non-bank financial services sector, offering investment and finance solutions to retail and institutional customers. The company is listed on both the National Stock Ex...
Cholamandalam Investment Allots 98,124 Shares Under ESOP
Jun 17, 2026
Cholamandalam Investment and Finance Company Limited has allotted 98,124 equity shares of Rs.2 each to eligible employees following the exercise of options under its employee stock option scheme. The allotment, approved by the Nomination and Remun...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.