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Cholamandalam Investment and Finance Company Limited posts Rs. 245.13 crore consolidated PAT in Q4 FY2020-21

Posted On: 2021-05-07 13:38:37 (Time Zone: UTC)


Cholamandalam Investment and Finance Company Ltd has reported financial results for the period ended March 31, 2021.

Financial Results (Q4 FY20-21) - QoQ Comparison

The company has reported total income of Rs.2479.80 crores during the period ended March 31, 2021 as compared to Rs.2520.48 crores during the period ended December 31, 2020.

The company has posted net profit / (loss) of Rs.245.13 crores for the period ended March 31, 2021 as against net profit / (loss) of Rs.409.79 crores for the period ended December 31, 2020.

The company has reported EPS of Rs.2.98 for the period ended March 31, 2021 as compared to Rs.5 for the period ended December 31, 2020.

FinancialsQ4 FY20-21Q3 FY20-21% Change
Total Income₹ 2479.80 crs₹ 2520.48 crsDown Tick -1.61%
Net Profit₹ 245.13 crs₹ 409.79 crsDown Tick -40.18%
EPS₹ 2.98₹ 5Down Tick -40.4%

Financial Results (Q4 FY20-21) - YoY Comparison

The company has reported total income of Rs.2479.80 crores during the period ended March 31, 2021 as compared to Rs.2165.57 crores during the period ended March 31, 2020.

The company has posted net profit / (loss) of Rs.245.13 crores for the period ended March 31, 2021 as against net profit / (loss) of Rs.42.45 crores for the period ended March 31, 2020.

The company has reported EPS of Rs.2.98 for the period ended March 31, 2021 as compared to Rs.0.53 for the period ended March 31, 2020.

FinancialsQ4 FY20-21Q4 FY19-20% Change
Total Income₹ 2479.80 crs₹ 2165.57 crsUp Tick 14.51%
Net Profit₹ 245.13 crs₹ 42.45 crsUp Tick 477.46%
EPS₹ 2.98₹ 0.53Up Tick 462.26%

Financial Results (Year ended FY 20-21) - YoY Comparison

The company has reported total income of Rs.9583.78 crores during the 12 months period ended March 31, 2021 as compared to Rs.8712.63 crores during the 12 months period ended March 31, 2020.

The company has posted net profit / (loss) of Rs.1520.86 crores for the 12 months period ended March 31, 2021 as against net profit / (loss) of Rs.1053.72 crores for the 12 months period ended March 31, 2020.

The company has reported EPS of Rs.18.52 for the 12 months period ended March 31, 2021 as compared to Rs.13.37 for the 12 months period ended March 31, 2020.

FinancialsYear Ended FY20-21Year Ended FY19-20% Change
Total Income₹ 9583.78 crs₹ 8712.63 crsUp Tick 10%
Net Profit₹ 1520.86 crs₹ 1053.72 crsUp Tick 44.33%
EPS₹ 18.52₹13.37Up Tick 38.52%

- Aggregate disbursements in Q4 FY 21 were at ₹ 8,071 Cr as against ₹ 5,663 in Q4 FY 20, with a growth of 43%. Disbursements for the year ended March 21 were at ₹ 26,043 Cr as against ₹ 29,091 Cr in the previous year registering a decline of 10% Y-on Y. The decline in the full year number is primarily due to lower disbursements in Q1 and Q2 of FY 21 due to lock-down.

- Vehicle Finance (VF) business has clocked a volume of ₹ 6,153 Cr in Q4 FY 21 as against ₹ 4,703 in Q4 FY20, registering growth of 31%. Disbursements for the year ended March 21 were at ₹ 20,249 Cr as against ₹ 23,387 Cr in the previous year registering a decline of 13% Y-on Y.

- Loan Against Property (LAP) business disbursed ₹ 1,191 Cr in Q4 FY 21, as against ₹ 589 Cr in Q4 FY 20, clocking a growth of 102%. Disbursements for the year ended March 21 were at ₹ 3,627 Cr as against ₹ 3,662 Cr in the previous year registering a marginal decline of 1% Y-on Y.

-Home Loan (HL) business disbursed ₹ 538 Cr in Q4 FY 21, as against ₹ 271 Cr in Q4 FY 20 registering a growth of 99%. Disbursements for the year ended March 21 were at ₹ 1,542 Cr as against ₹ 1,505 Cr in the previous year started registering a growth of 2% Y-on Y.

- Assets under management as at end of March 2021, grew by 14% at ₹ 76,529 Cr as compared to ₹ 66,943 Cr as at end of March 2020.

- Profits after Tax (PAT) for Q4 FY 21 were at ₹ 243 Cr compared to ₹ 43 Cr in Q4 FY 20, reporting a growth of 470%. PAT for the year ended March 21, were at ₹ 1,515 Cr as against ₹1,052 Cr in the same period last year registering a growth of 44%.

- PBT-ROA for Q4 FY 21 was at 1.8% as against 0.4% in previous year quarter, while for the year ended March 2021 it was at 3.0%, compared to the immediate previous year of 2.7%. If we exclude one-time Provisions, the PBT-ROA would be 3.8% for Q4 FY 21 as against 3.7% for Q4 FY 20, and for the full year ended the ratio improvised to 3.8% for FY 21 compared to 3.5% for FY 20.

- ROE for the year ended March 21 was at 16.9% as against 15.2% in previous year. If we exclude one-time provisions the ROE would be 20.9% in FY 21 compared to 19.7% in FY 20.

- The Company continues to hold strong liquidity position with Rs. 6,428 Cr as cash balance as at end of Mar'21 (including Rs 1500 Cr invested in Gsec shown under investments) with a total liquidity position of Rs.9,780 Cr (including undrawn sanctioned lines). The ALM is comfortable with no negative cumulative mismatches across all time buckets.

CIFCL asset quality as at end of March 2021, represented by Stage 3 assets stood at 3.96% with a provision coverage of 44.27%, as against 3.80% as at end of March 2020 with a provision coverage of 41.52%. The company created additional provisions as management overlay for Rs.350 Cr towards future contingencies and thereby taking the overall management overlay to ₹ 1100 Crs as on 31st March 2021. The total provisions currently carried against the overall book is 3.58% as against the normal overall provision levels of 1.75% carried prior to the Covid-19 pandemic, representing two times than normal provision coverage.

The Capital Adequacy Ratio (CAR) of the company as on 31st March 2021, was at 19.07% as against the regulatory requirement of 15%.

Shares of Cholamandalam Investment and Finance Company Ltd was last trading in BSE at Rs.569.05 as compared to the previous close of Rs. 580.3. The total number of shares traded during the day was 141336 in over 3168 trades.

The stock hit an intraday high of Rs. 587.35 and intraday low of 564.65. The net turnover during the day was Rs. 81436425.


Source: Equity Bulls

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