Cholamandalam Investment and Finance

Cholamandalam's net profit rose 30.3% to INR 11,981 mil in 2018

By Helgi Analytics - October 15, 2019

Cholamandalam Investment and Finance made a net profit of INR 11,981 mil under revenues of INR 35,207 mil in 2018, up 30.3% and 21.3% ...

Cholamandalam's net interest margin fell 15.0% to 5.86% in 2018

By Helgi Analytics - October 15, 2019

Cholamandalam Investment and Finance's net interest margin amounted to 5.86% in 2018, down from 6.90% compared to the previous year....

Cholamandalam's price/earnings (P/E) fell 23.2% to 19.0 in 2018

By Helgi Analytics - October 15, 2019

Cholamandalam Investment and Finance stock traded at INR 290 per share at the end 2018 implying a market capitalization of USD 3,260 mil. ...

Profit Statement 2016 2017 2018
Net Interest Income INR mil 20,483 25,777 29,778
Net Fee Income INR mil ... 1,793 2,473
Other Income INR mil 4,175 1,456 2,956
Total Revenues INR mil 24,658 29,026 35,207
Operating Profit INR mil 14,203 14,008 18,315
Provisions INR mil 3,160 0 0
Net Profit INR mil 7,194 9,193 11,981
Balance Sheet 2016 2017 2018
Interbank Loans INR mil 1,821 228 168
Customer Loans INR mil 292,616 422,440 526,108
Debt Securities INR mil 218 1,246 804
Total Assets INR mil 305,982 441,668 574,901
Shareholders' Equity INR mil 42,999 51,258 62,087
Interbank Borrowing INR mil 32,305 0 0
Customer Deposits INR mil 0 0 0
Issued Debt Securities INR mil 151,046 201,664 321,238
Ratios 2016 2017 2018
ROE % 18.0 19.5 21.1
ROA % 2.46 2.46 2.36
Costs (As % Of Assets) % 3.58 4.02 3.32
Costs (As % Of Income) % 42.4 51.7 48.0
Capital Adequacy Ratio % 18.6 18.4 17.4
Net Interest Margin % 7.00 6.90 5.86
Loans (As % Of Deposits) % ... ... ...
Valuation 2016 2017 2018
Market Capitalisation (End Of Period) USD mil 2,220 3,562 3,260
Share Price (End Of Period) INR 193 290 290
Price/Earnings (P/E) 21.0 24.7 19.0
Price/Book Value (P/BV) 3.51 4.43 3.66
Earnings Per Share (EPS) 9.21 11.8 15.3
Book Value Per Share 55.0 65.5 79.4

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summary Unit 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018
income statement                                      
Net Interest Income INR mil                         8,826 11,977 14,637 18,161 20,483    
Total Revenues INR mil                         11,618 15,103 17,573 21,661 24,658    
Operating Profit INR mil                         5,755 8,371 9,913 13,049 14,203    
Net Profit INR mil                         3,079 3,683 4,441 5,747 7,194    
balance sheet                                      
Interbank Loans INR mil ... ... ... ... ... ... ... ...         1,720 390 246 160 1,821    
Customer Loans INR mil                         174,335 203,752 231,311 268,341 292,616    
Debt Securities INR mil                         48.6 166 118 115 218    
Total Assets INR mil                         182,285 215,442 238,680 278,892 305,982    
Shareholders' Equity INR mil                         19,526 22,868 31,744 36,732 42,999    
Interbank Borrowing INR mil                         69,699 31,473 26,763 39,712 32,305    
Customer Deposits INR mil                         0 0 0 0 0    
Issued Debt Securities INR mil                         82,987 98,330 124,245 109,312 151,046    
ratios                                      
ROE %                         18.3 17.4 16.3 16.8 18.0    
ROA %                         1.94 1.85 1.96 2.22 2.46    
Costs (As % Of Assets) %                         3.70 3.38 3.37 3.33 3.58    
Costs (As % Of Income) %                         50.5 44.6 43.6 39.8 42.4    
Capital Adequacy Ratio % ... ... ... ... ... ... ... ... ... ... ... ... 19.0 17.2 21.2 19.7 18.6    
Net Interest Margin %                         5.56 6.02 6.45 7.02 7.00    
Interest Income (As % Of Revenues) %                         76.0 79.3 83.3 83.8 83.1    
Fee Income (As % Of Revenues) % ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ...    
Equity (As % Of Assets) %                         10.7 10.6 13.3 13.2 14.1    
Loans (As % Of Deposits) % ... ...     ...     ... ... ... ... ... ... ... ... ... ... ... ...
Loans (As % Assets) %                         95.6 94.6 96.9 96.2 95.6    
valuation                                      
Market Capitalisation (End Of Period) USD mil                         669 669 1,357 1,643 2,220    
Number Of Shares (Average) mil                         671 717 726 755 781    
Share Price (End Of Period) INR                         54.6 57.7 118 144 193    
Earnings Per Share (EPS)                         4.59 5.14 6.12 7.61 9.21    
Book Value Per Share                         29.1 31.9 43.7 48.6 55.0    
Price/Earnings (P/E)                 ...       11.9 11.2 19.3 19.0 21.0    
Price/Book Value (P/BV)                         1.88 1.81 2.69 2.97 3.51    
Earnings Per Share Growth % ...                       62.7 12.0 19.1 24.4 21.0    
Book Value Per Share Growth % ...                       24.2 9.65 37.1 11.2 13.1    
income statement Unit 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018
income statement                                      
Interest Income INR mil                         22,926 29,671 34,215 38,641 42,763    
Interest Cost INR mil                         14,100 17,694 19,578 20,480 22,279    
Net Interest Income INR mil                         8,826 11,977 14,637 18,161 20,483    
Net Fee Income INR mil ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ...    
Other Income INR mil                         2,792 3,125 2,936 3,500 4,175    
Total Revenues INR mil                         11,618 15,103 17,573 21,661 24,658    
Operating Cost INR mil                         5,863 6,731 7,659 8,612 10,455    
Operating Profit INR mil                         5,755 8,371 9,913 13,049 14,203    
Provisions INR mil ...                       1,233 2,834 3,249 4,273 3,160    
Extra and Other Cost INR mil ...                       0 -7.28 1.88 -19.3 -30.8    
Pre-Tax Profit INR mil                         4,522 5,545 6,662 8,795 11,074    
Tax INR mil                         1,443 1,862 2,221 3,048 3,895    
Minorities INR mil                         ... 0 0 -0.332 -15.0    
Net Profit INR mil                         3,079 3,683 4,441 5,747 7,194    
growth rates                                      
Net Interest Income Growth % ...                       52.2 35.7 22.2 24.1 12.8    
Net Fee Income Growth % ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ...  
Total Revenue Growth % ...                       32.7 30.0 16.4 23.3 13.8    
Operating Cost Growth % ...                       28.4 14.8 13.8 12.4 21.4    
Operating Profit Growth % ...                       28.4 14.8 47.3 31.6 8.85    
Pre-Tax Profit Growth % ...                       56.3 22.6 20.2 32.0 25.9    
Net Profit Growth % ...                       82.2 19.6 20.6 29.4 25.2    
market share                                      
Market Share in Revenues % ... ... ... ... ... ... ... ... ... ... ...   0.492 0.560 0.579 0.643 0.613   ...
Market Share in Net Profit % ... ... ... ... ... ... ... ... ... ... ...   0.520 0.683 0.814 1.40 ... ... ...
balance sheet Unit 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018
balance sheet                                      
Cash INR mil                         4,037 8,128 3,522 5,095 4,938    
Interbank Loans INR mil ... ... ... ... ... ... ... ...         1,720 390 246 160 1,821    
Customer Loans INR mil                         174,335 203,752 231,311 268,341 292,616    
Debt Securities INR mil                         48.6 166 118 115 218    
Fixed Assets INR mil                         663 686 651 1,063 1,196    
Total Assets INR mil                         182,285 215,442 238,680 278,892 305,982    
Shareholders' Equity INR mil                         19,526 22,868 31,744 36,732 42,999    
Of Which Minority Interest INR mil                         0 0 0 35.0 20.0    
Liabilities INR mil                         162,759 192,574 206,936 242,160 262,983    
Interbank Borrowing INR mil                         69,699 31,473 26,763 39,712 32,305    
Customer Deposits INR mil                         0 0 0 0 0    
Issued Debt Securities INR mil                         82,987 98,330 124,245 109,312 151,046    
Other Liabilities INR mil                         10,073 62,771 55,928 93,137 79,633    
growth rates                                      
Customer Loan Growth % ...                       34.1 16.9 13.5 16.0 9.05    
Total Asset Growth % ...                       35.1 18.2 10.8 16.8 9.71    
Shareholders' Equity Growth % ...                       39.1 17.1 38.8 15.7 17.1    
Customer Deposit Growth % ... ... ...     ...     ... ... ... ... ... ... ... ... ... ... ...
market share                                      
Market Share in Customer Loans % ... ... ... ...                 0.316 0.317 0.326 0.337 0.354   ...
Market Share in Total Assets %                         0.210 0.213 0.214 0.221 0.215   ...
Market Share in Customer Deposits %                         0 0 0 0 0   ...
ratios Unit 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018
ratios                                      
ROE %                         18.3 17.4 16.3 16.8 18.0    
ROA %                         1.94 1.85 1.96 2.22 2.46    
Costs (As % Of Assets) %                         3.70 3.38 3.37 3.33 3.58    
Costs (As % Of Income) %                         50.5 44.6 43.6 39.8 42.4    
Capital Adequacy Ratio % ... ... ... ... ... ... ... ... ... ... ... ... 19.0 17.2 21.2 19.7 18.6    
Tier 1 Ratio % ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... 13.6    
Net Interest Margin %                         5.56 6.02 6.45 7.02 7.00    
Interest Spread % ...                       4.51 4.96 5.27 5.81 5.80    
Asset Yield %                         14.5 14.9 15.1 14.9 14.6    
Cost Of Liabilities % ...                       9.94 9.96 9.80 9.12 8.82    
Interest Income (As % Of Revenues) %                         76.0 79.3 83.3 83.8 83.1    
Fee Income (As % Of Revenues) % ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ...    
Other Income (As % Of Revenues) %                         24.0 20.7 16.7 16.2 16.9    
Equity (As % Of Assets) %                         10.7 10.6 13.3 13.2 14.1    
Loans (As % Of Deposits) % ... ...     ...     ... ... ... ... ... ... ... ... ... ... ... ...
Loans (As % Assets) %                         95.6 94.6 96.9 96.2 95.6    
Cost of Provisions (As % Of Loans) % ...                       0.811 1.50 1.49 1.71 1.13    
other data Unit 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018
other data                                      
Employees ... ... ... ... ...               2,044 2,550 2,674 4,000 6,776    

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Cholamandalam's customer loans rose 24.5% to INR 422,440 mil in 2018

By Helgi Analytics - October 15, 2019

Cholamandalam Investment and Finance's customer loans reached INR 422,440 mil in 2017, up 44.4% compared to the previous year. Indian banking sector provided customer loans of INR 88,362 bil in 2017, up 7.04% when compared to the last year. Cholamandalam ...

Cholamandalam's total revenues rose 21.3% to INR 29,026 mil in 2018

By Helgi Analytics - October 15, 2019

Cholamandalam Investment and Finance generated total banking revenues of INR 29,026 mil in 2017, up 17.7% compared to the previous year. Indian banking sector banking sector generated total revenues of INR 4,320,359 mil in 2017, up 7.41% when compared...

Cholamandalam's customer deposits remain unchanged at INR 0 mil in 2018

By Helgi Analytics - October 15, 2019

Cholamandalam Investment and Finance's customer deposits reached INR 0 mil in 2017, down 0% compared to the previous year. Indian banking sector accepted customer deposits of INR 110,303 bil in 2017, up 3.61% when compared to the last year. Cholamandalam ...

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Cholamandalam Investment and Finance Logo

Finance

Cholamandalam Investment and Finance has been growing its revenues and asset by 17.6% and 27.3% a year on average in the last 3 years. Its loans and deposits have grown by 25.2% and 0% a year during that time and loans to deposits ratio reached at the end of 2018. The company achieved an average return on equity of 19.6% in the last three years with net profit growing 27.7% a year on average. In terms of operating efficiency, its cost to income ratio reached 48.0% in 2018, compared to 47.4% average in the last three years.

Equity represented 10.8% of total assets or 11.8% of loans at the end of 2018. Cholamandalam Investment and Finance's non-performing loans were of total loans while provisions covered some of NPLs at the end of 2018.

Valuation

Cholamandalam Investment and Finance stock traded at INR 290 per share at the end of 2018 resulting in a market capitalization of USD 3,260 mil. Over the previous five years, stock price rose by 404% or 38.2% a year on average. That’s compared to an average ROE of 18.3% the bank generated for its shareholders. This closing price put stock at a 12-month trailing price to earnings (PE) of 19.0x and price to book value (PBV) of 3.66x in 2018.