2014-15 - Q 1 -
Performance Highlights:
The Cholamandalam Investment and Finance
Company Limited disbursed Rs.2320 Cr. in
Vehicle Finance as against Rs. 2609 Cr. in Q 1 of 2013-14 and disbursed Rs.716
Cr. in Home Equity loans as against Rs. 662 Cr. in Q 1 of 2013-14.
Disbursements from new businesses were Rs. 153 Cr. The aggregate disbursements
of the Company for the quarter are Rs.3188 Cr. as against Rs. 3278 Cr. in Q 1
of 2013-14.
Total
Income is Rs.869 Cr. compared to Rs.762 Cr. in Q 1 of 2013-14 registering a
growth of 14%.
 |
| Vellayan Subbiah, MD, CIFCL |
With
continuing stress witnessed in the Commercial vehicles segment, the Company’s
overall GNPA has risen to 2.4% and the NNPA to 1.1% as on 30th June 2014. The
company continues to follow a stringent credit selection approach which is
reflected in the disbursement growth being relatively lower as compared to the previous
year in the vehicle finance business.
Profit
before tax is Rs.141 Cr. as against Rs.138 Cr. in Q 1 of 2013-14 registering a
growth of 2%.
Profit
after tax is Rs.93 Cr. as against Rs. 91 Cr. in Q 1 of 2013-14 registering a
growth of 2%.
Financial
Performance – Summary
The
Company has expanded its presence in 3 additional locations taking the total
number of branches to 577 as on 30th June 2014.
The
Company raised Tier II capital of Rs.270 Cr. by way of subordinated debt and
perpetual debt instruments to strengthen its capital adequacy ratio.
The
capital adequacy ratio (CAR) of the company was at 18.05% as against the
regulatory requirement of 15%.
Subsidiaries
Performance:
The
subsidiaries Cholamandalam Securites Limited and Cholamandalam Distribution
Services Limited had together made a profit of Rs. 2.56 Cr. as against Rs. 0.87
Cr. in Q1 of 2013-14.
Consolidated
Results:
The
consolidated profit after tax is Rs. 96 Cr. as against Rs. 92 Cr. in Q1 of
2013-14 registering a growth of 4%.
Equity Issuance:
The
Board of Directors at their meeting held on 26 July, 2014 considered and
approved an issue of 50,000,000 Compulsorily Convertible Preference Shares
("CPS") of Rs 100 each aggregating to Rs 500 Crores (Rupees Five
Hundred Crores only) on a preferential basis .This capital infusion will help
the Company to meet the business growth and augment he Tier 1 capital.
For Media Contact
Amit Mishra
M:
9344075741
Konnections
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