Cholamandalam Investment and Finance Company logo

Cholamandalam Investment and Finance Company share price

NSE: CHOLAFINBSE: 511243FinanceLarge Cap

Cholamandalam Investment and Finance Company Limited · Formerly Cholamandalam DBS Finance · Face value ₹2 · Listed Sep 1991 on BSE, May 1996 on NSE
Last close ₹1,545.20up ₹76.20 (5.19%)BSE ₹1,545.50

Share price at the NSE close on 28 Oct 2026. Previous close ₹1,469.00.

28 Oct: open ₹1,469.00, high ₹1,557.10, low ₹1,451.20

52-week range of traded prices to 28 Oct 2026
₹1,299.40Low, 2 Apr 2026₹1,952.50High, 6 Aug 2026
Market cap
₹1,32,503 Cr70th largest listed
P/E
21.30
P/B
3.84
Dividend yield
0.13%
ROE
20.6%
NIM
6.79%
Cost of funds
7.43%
Credit cost
1.77%
ROA
2.34%
Leverage
8.26times net worth
Volume, NSE
31,86,83842.8% delivered

Cholamandalam Investment and Finance Company share price chart

Daily closes since Jan 2007, adjusted for splits and bonuses

−10.3%over a year · Nifty Financial Services −11.1% · Nifty 500 −8.8%

Results20-session average 17,30,030 shares a day, 57.8% delivered

About Cholamandalam Investment and Finance Company

Cholamandalam Investment and Finance Company Limited (Chola), the financial services arm of the Murugappa Group, is a non-banking finance company (a lender registered with the Reserve Bank of India that is not a bank).12 Based in Chennai, it lends mainly to rural and semi-urban customers across India, among them small road transport operators, micro-enterprises, cash-salaried workers and first-time borrowers.345

It offers vehicle finance, home loans, loans against property, loans to small and medium enterprises (SMEs), secured business and personal loans, consumer and small enterprise loans, gold loans and consumer durable loans.6 Its subsidiaries are Cholamandalam Securities, which gives customers access to shares and other investments, and Cholamandalam Leasing.27

It was incorporated in 1978 and began as an equipment financing company.6 It started home loans in the year to Mar 2013 and launched consumer and small enterprise loans, secured business and personal loans and SME loans in the year to Mar 2022.8 It launched gold loans in the year to Mar 2026.9 In the year to Mar 2024 it launched a ₹4,000 crore qualified institutions placement (a sale of shares and convertible debentures to large investors).8

The Murugappa Group is a 125-year-old conglomerate with 10 listed companies.10 At the end of June 2026 the promoter group held 49.22% of Chola, including 43.74% held by Cholamandalam Financial Holdings Limited, its holding company.1112 Vellayan Subbiah is executive chairman and Ravindra Kumar Kundu is managing director.13

Cholamandalam Investment and Finance Company key points

Results

  • Consolidated results, quarter to Jun 2026 against a year earlier14
    Itemquarter to Jun 2026quarter to Jun 2025
    Income₹8,957 crore₹7,353 crore
    Profit before tax₹2,222 crore₹1,531 crore
    Profit after tax₹1,656 crore₹1,138 crore
  • On a standalone basis, total income for the year to Mar 2026 was ₹31,445 crore, profit before tax rose 21% to ₹6,961 crore and profit after tax rose 23% to ₹5,220 crore.15
  • Loans disbursed (paid out) in the year to Mar 2026 were ₹1,11,642 crore, up 11% and the company's highest ever.16
  • In the quarter to Jun 2026, the net income margin (lending income less borrowing costs, as a share of assets) rose to 8.2% from 7.8%, and return on equity was 21.2% against 18.8%.17

Business segments

  • Vehicle finance. Loans for new and used commercial vehicles, cars, two-wheelers, three-wheelers, tractors and construction equipment. Profit before tax rose 50% to ₹945 crore in the quarter to Jun 2026.1819
  • Loan against property. Long-term loans secured on property, to self-employed people and small businesses. Profit before tax rose 39% to ₹565 crore in the quarter to Jun 2026.2021
  • Home loans. Home loans for lower-middle-income customers in Tier II to Tier IV towns. Profit before tax, which includes affordable loans against property, rose 48% to ₹270 crore in the quarter to Jun 2026.2223

Loan book and deposits

  • Total assets under management (loans it manages, including those sold on to other lenders) were ₹2,54,392 crore at the end of June 2026, up 23% from a year earlier, and disbursements in the quarter were ₹29,612 crore, up 22%.24
  • Business assets under management by business line, end of June 2026252627
    Itemquarter to Jun 2026
    Vehicle finance₹1,24,132 crore
    Loan against property₹54,130 crore
    Home loans₹23,644 crore
    Consumer and small enterprise loans₹15,884 crore
    SME loans₹9,923 crore
    Secured business and personal loans₹3,730 crore
    Gold loans₹2,143 crore
    Together they make up business assets under management of ₹2,33,586 crore.
  • Gross Stage 3 assets (loans more than 90 days overdue) were 3.29% of the book at the end of June 2026, against 3.16% a year earlier; under the Reserve Bank of India's definition, gross non-performing assets were 4.50%.28

Funding and capital

  • Borrowings, its main source of funds, were ₹2,20,247 crore at the end of June 2026, against ₹1,81,304 crore a year earlier.29
  • Capital adequacy (capital as a share of risk-weighted assets) was 19.81% at the end of June 2026 and Tier I capital 14.81%, against Reserve Bank of India minimums of 15% and 10%.3031

Branches and reach

  • At the end of June 2026 the company had 1,820 branches in 26 states and 7 union territories, and 87% of its locations were in Tier III to Tier VI towns (smaller towns and rural centres).32
  • Most branches of the other lending businesses share premises with vehicle finance (804 of 815 loan against property branches, 679 of 715 home loan branches, all 131 SME branches), while gold loans run from 171 branches of their own.3233
  • It had 51,57,904 customers and 75,882 employees at the end of June 2026.34

Customers and partners

  • Consumer durable loans began with a tie-up with Samsung to finance its mobile phones and now cover other brands, including Vivo, Oppo, Realme, Xiaomi, Haier and Whirlpool.35
  • The SME loans business works with more than 40 equipment makers in industrial equipment, generator sets, medical equipment and solar finance.36

What the company expects

  • On its earnings call of 28 Jul 2026, the company said it had decided to open another 360 gold loan branches and expects gold loan assets under management to reach ₹5,000 crore in the year to Mar 2027.37
  • On its earnings call of 28 Jul 2026, the company said net credit cost (loan losses as a share of assets) reached its full-year target of 1.5% in the quarter to Jun 2026, and that it expects further improvement.3839
  • On its earnings call of 28 Jul 2026, the company said 3.5% is the minimum pre-tax return on total assets it aims for; it was 3.7% in the quarter to Jun 2026.404142
  • On its earnings call of 28 Jul 2026, the company said ₹200 crore of its compulsorily convertible debentures (debt that must turn into shares) were converted in July 2026, and it expects the last ₹430 crore to convert in October 2026.43

Recent events

  • On 26 Aug 2026, the stock exchanges approved reclassifying Algavista Greentech Private Limited from the promoter group to the public category.44
  • On 30 Apr 2026, the board recommended a final dividend of ₹0.70 a share for the year to Mar 2026, after an interim dividend of ₹1.30 a share. It went to the annual general meeting of 28 Jul 2026; the company's documents give no outcome.4546

Last updated

All 46 sources, each with its page
  1. 1. Exchange filing, 25 Jun 2026, page 2
  2. 2. Annual report, 6 Jul 2026, page 282
  3. 3. Annual report, 6 Jul 2026, page 16
  4. 4. Annual report, 6 Jul 2026, page 115
  5. 5. Annual report, 6 Jul 2026, page 15
  6. 6. Annual report, 6 Jul 2026, page 19
  7. 7. Annual report, 6 Jul 2026, page 59
  8. 8. Investor presentation, 28 Jul 2026, page 7
  9. 9. Investor presentation, 28 Jul 2026, page 7
  10. 10. Exchange filing, 25 Jun 2026, page 3
  11. 11. Investor presentation, 28 Jul 2026, page 17
  12. 12. Annual report, 6 Jul 2026, page 219
  13. 13. Annual report, 6 Jul 2026, page 66
  14. 14. Investor presentation, 28 Jul 2026, page 81
  15. 15. Annual report, 6 Jul 2026, page 26
  16. 16. Annual report, 6 Jul 2026, page 64
  17. 17. Investor presentation, 28 Jul 2026, page 8
  18. 18. Annual report, 6 Jul 2026, page 115
  19. 19. Investor presentation, 28 Jul 2026, page 37
  20. 20. Annual report, 6 Jul 2026, page 34
  21. 21. Investor presentation, 28 Jul 2026, page 51
  22. 22. Annual report, 6 Jul 2026, page 89
  23. 23. Investor presentation, 28 Jul 2026, page 67
  24. 24. Earnings call, 28 Jul 2026, page 3
  25. 25. Earnings call, 28 Jul 2026, page 3
  26. 26. Earnings call, 28 Jul 2026, page 3
  27. 27. Investor presentation, 28 Jul 2026, page 8
  28. 28. Investor presentation, 28 Jul 2026, page 8
  29. 29. Investor presentation, 28 Jul 2026, page 20
  30. 30. Investor presentation, 28 Jul 2026, page 8
  31. 31. Investor presentation, 28 Jul 2026, page 79
  32. 32. Investor presentation, 28 Jul 2026, page 9
  33. 33. Earnings call, 28 Jul 2026, page 20
  34. 34. Investor presentation, 28 Jul 2026, page 8
  35. 35. Annual report, 6 Jul 2026, page 89
  36. 36. Annual report, 6 Jul 2026, page 90
  37. 37. Earnings call, 28 Jul 2026, page 13
  38. 38. Earnings call, 28 Jul 2026, page 6
  39. 39. Earnings call, 28 Jul 2026, page 12
  40. 40. Earnings call, 28 Jul 2026, page 14
  41. 41. Earnings call, 28 Jul 2026, page 15
  42. 42. Investor presentation, 28 Jul 2026, page 8
  43. 43. Earnings call, 28 Jul 2026, page 4
  44. 44. Exchange filing, 26 Aug 2026, page 1
  45. 45. Exchange filing, 30 Apr 2026, page 2
  46. 46. Annual report, 6 Jul 2026, page 3

Results

Consolidated; ₹ crore. Income from operations is what the business earns: interest on loans, fees, dividends and the rest.Cholamandalam Investment and Finance Company quarterly results

Income from operations growth, 12 months
+21.1%
Net profit growth, 12 months
+33.9%

Quarter to Sep 2026, against the quarter before

Income from operations
₹9,395 Crup 4.89%
Net profit
₹1,630 Crdown 1.56%

Income from operations by quarter

₹6,733 CrDec 24₹7,046 CrMar 25₹7,267 CrJun 25₹7,491 CrSep 25₹7,898 CrDec 25₹8,417 CrMar 26₹8,856 CrJun 26₹9,395 CrSep 26
Peak income from operations ₹9,395 Cr, quarter to Sep 2026; lowest ₹6,733 Cr, quarter to Dec 2024

Net profit by quarter, a loss in red

₹1,088 CrDec 24₹1,260 CrMar 25₹1,138 CrJun 25₹1,160 CrSep 25₹1,290 CrDec 25₹1,645 CrMar 26₹1,656 CrJun 26₹1,630 CrSep 26
₹ croreDec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026Sep 2026
Income from operations6,7337,0467,2677,4917,8988,4178,8569,395
Net profit1,0881,2601,1381,1601,2901,6451,6561,630
Consolidated. The last eight quarters. The latest is shaded. Net profit is the whole group's, the other owners of its subsidiaries included; P/E and ROE use the company's own share.

Business segments

Share of revenue, year to Mar 2026, consolidated.Segment revenue and profit

  • Vehicle Finance₹16,511 Crup 17.05%54.0%
  • Loan against property₹5,989 Crup 30.95%19.6%
  • Home Loans₹3,241 Crup 29.55%10.6%
  • Others₹4,828 Crup 18.25%15.8%
The pill is the change in revenue on the year before; the share is of all the businesses together.

Valuation

Today, against the company's own history.Cholamandalam Investment and Finance Company PE ratio and valuation

Price to earnings

At or below today's level on 21% of 2,455 trading days over the last 10 years.

LowestHighest
Its median26.41Industry median19.07
Price to book

At or below today's level on 25% of 1,978 trading days since Nov 2018.

LowestHighest
Its median4.95Industry median1.08
Dividend yield

At or below today's level on 12% of 2,478 trading days over the last 10 years.

LowestHighest
Its median0.30%Industry median0.78%

Where the return came from

Yearly rates to Mar 2026, per-share figures restated for splits and bonuses.

OverReturn a yearEarnings growthChange in P/EDividend yield
1 year−10.7%+22.2%−27.1%0.1%
3 years+21.3%+24.1%−2.3%0.2%
5 years+19.6%+27.3%−6.2%0.2%
Return is price growth plus the average dividend yield. Change in P/E is (1 + price growth) / (1 + earnings growth) - 1, so the parts compound rather than add.

Shareholding

Per cent of the company's shares, from the filing for Sep 2026.Cholamandalam Investment and Finance Company shareholding pattern

Shareholding by group

  • Promoters48.93%
  • Foreign institutions24.87%
  • Indian institutions20.38%
  • Individuals and others5.83%
Holder
Cholamandalam Financial Holdings LimitedPromoter43.48%
Ambadi Investments LimitedPromoter3.93%
NPS TRUST - A/C SBI PENSION FUND SCHEME - NPS TIERProvident and pension funds2.65%
GOVERNMENT PENSION FUND GLOBALForeign portfolio investors, category I1.43%
NEW WORLD FUND INCForeign portfolio investors, category I1.15%
M.A.AlagappanPromoter0.29%
Holders are named in the company's own words: an insurer's holding can carry one of its funds' names. Mutual funds are left out here and listed fund by fund below.

Since Jun 2026: promoters −0.29 pts, foreign institutions +0.42 pts, Indian institutions −0.24 pts, mutual funds −0.34 pts.

Mutual fund holdings

329 funds disclosed a holding for Sep 2026. What they did in Sep 2026, against each fund's month before. 106 of the 157 funds that added or cut are index funds, ETFs or arbitrage funds: an index fund or ETF holds what its index holds, and an arbitrage fund holds the share against a sale of its future. 1 more fund filed its first portfolio on record, holding it.All 329 funds holding Cholamandalam Investment and Finance Company

Bought for the first time
4
Bought again
14
Added
103
Cut
54
Held unchanged
153
Sold out
6
Fund
SBI Mutual Fund logoSBI Large Cap FundSBI Mutual Fund66,00,0002.04%₹1,069.2 Cr
HDFC Mutual Fund logoHDFC Large Cap FundHDFC Mutual Fund52,39,7202.28%₹848.8 Cr
Kotak Mahindra Mutual Fund logoKotak Mid Cap FundKotak Mahindra Mutual Fund43,93,5771.07%₹711.8 Cr
Axis Mutual Fund logoAxis ELSS Tax Saver FundAxis Mutual Fund42,10,4112.25%₹682.1 Cr
Kotak Mahindra Mutual Fund logoKotak Arbitrage FundKotak Mahindra Mutual Fund40,73,1250.88%₹659.8 Cr
SBI Mutual Fund logoSBI Balanced Advantage FundSBI Mutual Fund36,37,1781.45%₹589.2 Cr
Axis Mutual Fund logoAxis Large Cap FundAxis Mutual Fund35,95,0161.99%₹582.4 Cr
Axis Mutual Fund logoAxis Focused FundAxis Mutual Fund33,23,4465.14%₹538.4 Cr
ICICI Prudential Mutual Fund logoICICI Prudential Balanced Advantage FundICICI Prudential Mutual Fund31,60,9510.71%₹512.1 Cr
DSP Mutual Fund logoDSP Midcap FundDSP Mutual Fund29,30,5182.44%₹474.7 Cr
Portfolios disclosed for Sep 2026. Weight is the holding as a share of the fund's assets.

Promoter and insider buying and selling

Trades made since 29 Oct 2025.Cholamandalam Investment and Finance Company insider trading

No promoter, director, key manager or employee bought or sold on the market.

  • Promoters and promoter group: no market trade · 14 pledge filings of unclear kind
  • Others: no market trade · 131 pledge filings of unclear kind
Bought and sold count trades on the market only. A pledge is shares given to a lender as security for a loan; a lender invokes it by selling them.

Cholamandalam Investment and Finance Company competitors and peers

Non Banking Financial Company (NBFC), 279 listed companies, priced on 28 Oct 2026. The table lists the 8 companies closest to Cholamandalam Investment and Finance Company in market cap.Finance companies

Where the company sits among the companies nearest its size

Return on equity across, P/E up, size is market cap
Company
Bajaj Finance logoBajaj FinanceBAJFINANCE5,71,07626.324.64+18.8%+18.5%19.2%–3.77%9.08%0.65%
Shriram Finance logoShriram FinanceSHRIRAMFIN1,95,90315.441.76+13.8%+28.6%14.7%–3.26%9.00%1.30%
Tata Capital logoTata CapitalTATACAP1,31,29422.012.68––14.0%–––0.18%
Muthoot Finance logoMuthoot FinanceMUTHOOTFIN96,0598.452.45+50.7%+84.8%33.2%–6.46%12.81%1.25%
SBI Cards and Payment Services logoSBI Cards and Payment ServicesSBICARD50,20419.252.92+5.8%+36.0%16.3%–3.29%11.24%0.47%
Sundaram Finance logoSundaram FinanceSUNDARMFIN43,59919.642.93+13.7%+15.6%15.8%–2.56%4.60%1.02%
Piramal Finance logoPiramal FinancePIRAMALFIN42,68322.481.38––6.5%–––0.61%
Authum Investment & Infrastructure logoAuthum Investment & InfrastructureAIIL41,95620.032.85−34.5%−48.8%14.2%13.3%––0.00%
Market cap in ₹ crore. Growth is the last twelve months against the twelve before. A figure is left empty where it would rest on a loss or the company has under a year of results on record; for ROCE and EV/EBITDA, where the company is a lender or an insurer; for NIM and ROA, where the company does not file a lender's accounts or has no recent year with a balance sheet at its start and its end. ROE is the shareholders' profit over their net worth. ROCE is profit before interest and tax over the whole group's net worth plus borrowings, as in the figures at the top of the page. ROA is the year's profit over average total assets. NIM is net interest income over average loans and investments. Income growth is the growth of everything the company earns: interest, fees, premiums and the rest.

Dividends

Per share, by the year it was paid for, and the latest payments.Cholamandalam Investment and Finance Company dividend history

Dividend per share, ₹, restated for later splits and bonuses

1.1Mar 171.3Mar 181.3Mar 191.7Mar 202Mar 212Mar 222Mar 232Mar 242Mar 252Mar 26
Highest ₹2.00 a share, in 6 years, the latest the year to Mar 2026.
Ex-dateTypePer share
21 Jul 2026Final₹0.70
5 Feb 2026Interim₹1.30
24 Jul 2025Final₹0.70
7 Feb 2025Interim₹1.30
19 Jul 2024Final₹0.70
7 Feb 2024Interim₹1.30
Latest payments, as declared, by ex-date.

Latest announcements

Routine notices left out.Cholamandalam Investment and Finance Company announcements

Cholamandalam Investment and Finance Company share price by year

Each calendar year to 2025.Cholamandalam Investment and Finance Company share price history

YearClose at year endChangeHighest closeLowest close
20251,702.20+43.5%1,754.401,175.35
20241,185.95−5.9%1,641.751,019.60
20231,259.80+74.3%1,259.80665.95
2022722.90+38.9%802.20537.25
2021520.40+34.2%662.40397.85
2020387.65+26.9%388.70122.10
2019305.50+21.3%329.85221.82
2018251.94−3.1%348.29211.07
2017259.91+37.3%261.11183.07
2016189.32+47.5%245.63118.99
₹ per share, adjusted for splits and bonuses since. Change is on the close at the end of the year before.

Recent sessions

The 9 trading days to 27 Oct 2026, as traded on NSE; the latest is at the top of the page.

DateOpenHighLowCloseAverage priceVolumeDelivery
27 Oct 20261,454.001,475.001,446.801,469.001,462.9217,26,69463.8%
26 Oct 20261,439.101,457.601,415.001,447.901,443.0817,27,30751.8%
23 Oct 20261,500.001,500.301,450.001,463.801,470.2732,39,30756.0%
22 Oct 20261,520.001,536.101,487.601,530.901,516.3611,51,57760.2%
21 Oct 20261,565.301,565.301,508.601,529.901,525.2622,80,72564.0%
19 Oct 20261,574.401,590.301,548.101,553.001,567.005,73,64756.2%
16 Oct 20261,587.201,591.501,562.901,574.401,575.5010,13,77654.9%
15 Oct 20261,563.001,597.901,544.301,586.001,583.4817,28,21061.6%
14 Oct 20261,610.701,612.901,552.501,563.001,567.8426,08,34363.4%
Prices in ₹ per share as traded, not adjusted.

Price adjustments

What the price chart is corrected for, so it reads as one share held throughout.Stock split history

Ex-dateEventPrice factorWhat happened
23 Mar 2020Price move–Between two trading sessions the price moved by a fifth or more. The Nifty 500 moved 5% or more the same way over the same sessions. Not adjusted for.
14 Jun 2019Split0.2000Each share became 5.
11 Sep 2007Rights issue–Shareholders were offered new shares. Noted, not adjusted for.
Earlier prices are multiplied by the factor, so the chart reads as one share held throughout. Any other event is noted and not adjusted for.

Company details

Chairperson
SUBBIAH VELLAYAN
At the end of the quarter to Jun 2026
Managing director
RAVINDRA KUMAR KUNDU
At the end of the quarter to Jun 2026
NSE symbol
CHOLAFIN
BSE code
511243
ISIN
INE121A01024
Industry
Finance
Former symbols
CHOLADBS, CHOLAINV
CIN
L65993TN1978PLC007576
Corporate identity number, the registrar of companies' code for it
Incorporated
1978
Registered office
Chola Crest, C54-55 & Super B-4, Thiru-Vi-Ka Industrial Estate, Guindy, Chennai 600032, Tamil Nadu
Share registrar
KFin Technologies Ltd
Keeps the register of shareholders and handles transfers and dividend payments