CHOLAMANDALAM INVESTMENT AND FINANCE COMPANY LIMITED (CIFCL) UNAUDITED FINANCIAL RESULTS FOR THE QUARTER ENDED 30ᵗʰ JUNE 2024
Key Financial Results (Q1 FY 24-25):
- Disbursements at ₹ 24,332 Cr for the quarter (Up by 22%)
- Total AUM at ₹ 1,68,832 Cr (Up by 38% YoY)
- Net Income for the quarter was at ₹ 3,033 Cr (Up 43% YoY)
- PAT at ₹ 942 Cr for the quarter (Up by 30% YoY)
Chennai: The Board of Directors of CIFCL today approved the unaudited financial results for the quarter ended 30th June 2024.
Performance Highlights:
- Aggregate disbursements in Q1 FY 25 were at ₹ 24,332 Cr as against ₹ 20,015 Cr in Q1 FY 24 with a growth of 22%.
- Vehicle Finance (VF) disbursements were at ₹ 12,766 Cr in Q1 FY 25 as against ₹ 11,301 Cr in Q1 FY24, registering a growth of 13%.
- Loan Against Property (LAP) business disbursed ₹ 3,874 Cr in Q1 FY 25, as against ₹ 2,679 Cr in Q1 FY24, with a growth rate of 45%.
- Home Loan business disbursed ₹ 1,778 Cr in Q1 FY 25, as against ₹ 1,454 Cr in Q1 FY24 registering a growth of 22%.
- Small and Medium Enterprises Loan (SME) business disbursed ₹ 2,160 Cr in Q1 FY 25, registering 6% growth over ₹ 2,045 Cr in Q1 FY24.
- Consumer and Small Enterprise Loans (CSEL) disbursed ₹ 3,486 Cr in Q1 FY 25, as against ₹ 2,355 Cr in Q1 FY24 registering a growth of 48%.
- Secured Business and Personal Loan (SBPL) disbursed ₹ 268 Cr in Q1 FY 25, as against ₹ 182 Cr in Q1 FY24 registering a growth of 48%.
- Assets under management as of 30th June 2024, stood at ₹ 1,68,832 Cr as compared to ₹ 1,22,755 Cr as of 30th June 2023, clocking a growth of 38% Y-O-Y.
- PBT for Q1 FY 25 was at ₹ 1,268 Cr, registering a growth of 31% over Q1 of FY 24.
- PBT-ROA for Q1 FY 25 was at 3.2%.
- ROE for Q1 FY 25 was at 18.9%.
- The Company continues to hold a strong liquidity position with ₹ 14,324 Cr as cash balance as of the end of Jun'2024 (including Rs 1,551 Cr in Gsec / Rs 1,606 Cr TBill & Rs 611 Cr in Strips shown under investments), with a total liquidity position of ₹ 14,767 Cr (including undrawn sanctioned lines). The ALM is comfortable with no negative cumulative mismatches across all time buckets as per Regulatory norms.
- Consolidated Profit Before Tax (PBT) for Q1 FY 25 was at ₹ 1,275 Cr as against ₹ 956 Cr in Q1 FY 24 registering a growth of 33%.
Asset Quality:
Stage 3 levels representing 90+ dues increased to 2.62% as of June 24 from 2.48% as of the end of March 24. GNPA % as per RBI norms increased to 3.62% as of June 24 as against 3.54% on March 24. NNPA as per RBI norms has also increased to 2.37% as of June 24 against 2.32% on March 24. NNPA is below the threshold of 6% prescribed by RBI as the threshold for PCA.
The details of the stagewise assets and provisions are given in the Annexure.
Capital Adequacy:
The Capital Adequacy Ratio (CAR) of the company as of 30th June 2024, was at 18.03% as against the regulatory requirement of 15%. Tier-I Capital was at 14.76% (Common Equity Tier-I Capital at 13.63% as against a regulatory minimum of 9%) and Tier-II Capital was at 3.27%.