Cholamandalam Investment and Finance Company (511243) Q4 21/22 earnings summary

Executive summary

• Q4 FY22 delivered record disbursements, collections and profitability, supported by recovery in auto and mortgage markets; AUM reached ₹82,904 Cr, up 8% YoY.

• FY22 PAT rose 42% YoY to ₹2,147 Cr; Q4 PAT increased 184% YoY to ₹690 Cr.

Financial highlights

• Total income was ₹2,632 Cr in Q4 FY22 and ₹10,139 Cr in FY22; FY PBT was ₹2,891 Cr, up 42% YoY.

• FY22 PAT was ₹2,147 Cr versus ₹1,515 Cr; Q4 PAT was ₹690 Cr versus ₹243 Cr in Q4 FY21.

• FY22 disbursements reached ₹35,490 Cr, up 36% YoY; Q4 disbursements of ₹12,718 Cr rose 58% YoY.

• FY22 loan losses were ₹880 Cr versus ₹1,378 Cr; Q4 loan losses were a net credit of ₹17 Cr versus ₹520 Cr expense in Q4 FY21.

Segment performance

• Vehicle Finance FY22 disbursements were ₹25,439 Cr, up 26% YoY; Q4 disbursements rose 43% to ₹8,785 Cr.

• Loan Against Property FY22 disbursements rose 62% to ₹5,862 Cr; Home Loan disbursements were ₹1,571 Cr versus ₹1,542 Cr.

• New CSEL, SBPL and SME lending disbursed ₹2,619 Cr in FY22, up 319% YoY; Q4 disbursements rose 702% to ₹1,515 Cr.

• Standalone FY22 segment revenue: Vehicle Finance ₹7,57,837 lakh, LAP ₹1,61,349 lakh and Home Loans ₹60,043 lakh; corresponding PBT was ₹1,99,928 lakh, ₹40,865 lakh and ₹18,945 lakh.