Cholamandalam Financial Holdings Ltd · NSE:CHOLAHLDNG
Cholamandalam Financial — Q3 FY2026 Earnings Presentation
69 slides from Cholamandalam Financial's earnings presentation, Dec 31, 2025
Slide 1: Corporate Presentation – Q3-FY26
CHOLAMANDALAM FINANCIAL HOLDINGS LIMITED CORPORATE PRESENTATION – Q3-FY26 1
Slide 2: Murugappa Group in a Nutshell
Murugappa Group in a Nutshell FINANCIAL AGRICULTURE ENGINEERING SERVICES Market Cap(Cr.) 67,064 18,417 16,315 50,599 1,02,075 1,43,662 NA 34,087 Turnover (Cr.) 24,085 31,609 4,834 7,431 9491 25,846 8,927 86 2,055 1,773 293 1,297 974 4,263 507 65 PAT(Cr.) 125 $10.2 Consolidated Years of Years B Turno
Slide 3: Cholamandalam Financial Holdings Limited (CFHL) (Core Investment Company)
Cholamandalam Financial Holdings Limited (CFHL) (Core Investment Company) 44.18% 60.00% 49.50% Cholamandalam Cholamandalam MS Investment and Cholamandalam MS General Insurance Risk Services Limited Finance Company Company Limited Limited (CIFCL) (CMSRSL) (CMSGICL) • Subsidiary (as per Ind AS) • Join
Slide 4: Shareholding Pattern
Shareholding Pattern Shareholding Pattern Institutional Holders (More than 1%) as of December 31, 2025 Others, 16.22% Top Domestic Institutional Holdings NIPPON LIFE INDIA TRUSTEE LTD- A/C NIPPON INDIA GR SBI LARGE & MIDCAP FUND AXIS MUTUAL FUND TRUSTEE LIMITED A/C AXIS MUTUAL FUND Promoters, FPI, 1
Slide 5: Performance Highlights - Consolidated
Performance Highlights - Consolidated Rs.in Cr. Revenue Profit after tax EPS (Rs.) Q3 FY26 10,084 1,386 33.32 17% 27% 29% Rs.in Cr. Q3 FY25 8,593 1,093 25.89 Revenue Profit after tax EPS (Rs.) YTD Dec 25 29,056 3,860 93.42 19% 14% 12% YTD Dec 24 24,451 3,378 83.08
Slide 6: Performance Highlights - Consolidated
Performance Highlights - Consolidated Profit After Tax (Rs.in crs) Profit After Tax (Rs. in crs) 1,600 4,500 1,386 4,000 1,400 1,290 3,860 3,500 1,200 3,587 1,088 1,093 3,378 3,000 1,000 3,003 2,500 800 2,000 600 1,500 400 1,000 200 500 93 2 3 3 258 366 15 9 - - CIFCL CMSGICL Others CFHL Consol CIFC
Slide 7: Financial Performance & Metrics
Financial Performance & Metrics CFHL - Standalone CIFCL YTD Dec-25 YTD Dec24 Particulars (Rs. in Cr) YTD Dec25 YTD Dec24 Disbursements (Rs. in Cr) 78,729 74,452 As of As of Income 37.41 34.67 31-Dec-2025 31-Mar-2025 Expenses 2.37 2.13 Asset Under Management (Rs. in Cr) 227,770 199,876 Profit Before
Slide 8: Regulatory Ratios of CFHL
Regulatory Ratios of CFHL Regulatory Ratios as at December 31, 2025 Rs Crs As of As of Particulars December 31, 2025 March 31, 2025 Owned Funds (A) 1,347.79 1,336.20 Adjusted Networth (B) 30,668.35 25,840.63 Risk Weighed Assets ( C) 1,294.69 1,292.60 Outside Liabilities (D) 2.53 4.13 Net assets (E)
Slide 9: Cholamandalam Investment and Finance Company Limited
Cholamandalam Investment and Finance Company Limited 9
Slide 10: Disbursements
Disbursements Disbursements (₹Cr) Disbursements (%) 6% -0.03% 1% 16% Q1 Q1 Q2 Q2 Q3 Q3 YTD YTD Q1 Q1 Q2 Q2 Q3 Q3 YTD YTD FY25 FY26 FY25 FY26 FY25 FY26 Dec24 Dec25 FY25 FY26 FY25 FY26 FY25 FY26 Dec24 Dec25 GOLD 100 467 772 1,339 GOLD 0.4% 2% 3% 4% SBPL 268 359 312 385 331 429 911 1,173 SBPL 1% 2% 1%
Slide 11: Assets Under Management
Assets Under Management Business - Assets under Management (₹Cr) Business - Assets under Management (%) Q1 Q1 Q2 Q2 Q3 Q3 FY25 FY26 FY25 FY26 FY25 FY26 Q1 Q1 Q2 Q2 Q3 Q3 GOLD 97 456 980 FY25 FY26 FY25 FY26 FY25 FY26 SBPL 1,618 2,671 1,863 2,932 2,115 3,221 Gold 0.1% 0.2% 0.5% SME 5,576 7,119 5,877 7
Slide 12: Profitability and Net worth
Profitability and Net worth Profit after tax (₹Cr) Networth (₹Cr) 3,579 *27,577 *25,895 *24,715 169 168 *22,593 2,992 168 *21,365 *20,525 168 168 168 25,726 27,408 24,547 21,196 22,425 20,357 1,288 1,136 1,155 1,087 942 963 Q1 Q1 Q2 Q2 Q3 Q3 Q1 Q1 Q2 Q2 Q3 Q3 YTD YTD FY25 FY26 FY25 FY26 FY25 FY26 FY
Slide 13: Chola – Stage 3 Assets Trend
Chola –Stage 3 Assets Trend As per revised RBI norms GNPA% & NNPA% as of Dec25 is at 4.63% and 3.13%, respectively. 13
Slide 14: Vehicle Finance
Vehicle Finance Primary Colours 14
Slide 15: Vehicle Finance: Q3 FY26 & YTD Dec25 Performance
Vehicle Finance: Q3 FY26 & YTD Dec25 Performance Disbursements grew by 17% in Q3 FY26 to Rs. 16,805 Cr as compared Disbursements to Q3 FY25 and by 11% in YTD Dec25 to Rs.43,991 as compared to YTD Dec24. Assets under AUM has grown by 17% YoY. management Loan losses at 2.0% in Q3 FY26 from 1.7% in Q3
Slide 16: Sector outlook – Vehicle Finance business (1/3)
Sector outlook – Vehicle Finance business (1/3) Sector Outlook Chola’s Position ▪The Heavy Commercial Vehicle (HCV) segment witnessed 20% ▪We will continue to closely monitor this segment and align growth in Q3 FY26 & 6% in YTD Dec’25. Q3 FY26 witnessed a our growth approach with industry trends. se
Slide 17: Sector outlook – Vehicle Finance business (2/3)
Sector outlook – Vehicle Finance business (2/3) Sector Outlook Chola’s Position ▪The Passenger Vehicle (Car&MUV) segment recorded a growth ▪We will continue our focus in this segment in of 21% in Q3 FY’26 & 6% in YTD Dec’25 with an all time high line with the industry momentum. sales number. The str
Slide 18: Sector outlook – Vehicle Finance business (3/3)
Sector outlook – Vehicle Finance business (3/3) Sector Outlook Chola’s Position ▪The Construction Equipment segment had a de-growth ▪ Our exposure in this segment is around of 6% in Q3 FY’26 & 10% in YTD Dec’25, impacted by a 6% at the portfolio level, and we will high base effect. Demand is expecte
Slide 19: Auto Industry Outlook
Auto Industry Outlook Trend in Domestic LCV Sales Trend in Domestic SCV Sales Chola 4 year Chola YoY growth rate 18% Chola 4 year (in Units) Chola YoY growth rate 28% (in Units) CAGR 8% CAGR (5%) CAGR @ 5% CAGR @ 5% 193129 55005 51832 166832 46679 45747 133589 44645 112124 105589 Q3 FY'23 Q3 FY'24 Q
Slide 20: Auto Industry Outlook
Auto Industry Outlook Trend in Domestic HCV Sales Trend in Domestic Car & MUV Sales Chola 4 year Chola 4 year Chola YoY growth rate 56% (in Units) Chola YoY growth rate 26% (in Units) CAGR 31% CAGR 21% CAGR @ 7% CAGR @ 5% 1458731 106623 1260107 87036 75773 1014125 1045405 72918 72785 936880 Q3 FY'23
Slide 21: Ecosystem Play in the AUTO Sector
Ecosystem Play in the AUTO Sector Low CV Low PV Industry Low Industry Low Chola Position Chola Position Principal Operator Salaried > 50 Vehicles Large Operators 26- 50 vehicles HCV Self Employed with RISK RISK Returns Returns Financials Medium Operators 10 -25 – HCV & LCV vehicles Taxi and Tour Ope
Slide 22: Ecosystem Play in the AUTO Sector
Ecosystem Play in the AUTO Sector Tractor CE Low Industry Low Low Industry Low Chola Position Super Strategic Chola Position Large Farmer Strategic Customer Captive Users / Prior Vehicles Captive Users/Prior Vehicles Return Return RISK RISK Medium Retail operator s s Medium Farmers Small Retail Oper
Slide 23: Vehicle Finance - Disbursement/Portfolio Mix Statewise – Q3 FY26
Vehicle Finance - Disbursement/Portfolio Mix Statewise – Q3 FY26 Well diversified across geography Disbursements - State wise Portfolio - State wise Dadra and Nagar Haveli & Daman and Diu MP AP Karnataka Dadra MP and Nagar AP Haveli & 0.05% Daman & Diu 0.04% Karnataka Maharashtra Maharashtra 5% 5% 6
Slide 24: Vehicle Finance - Disbursement/Portfolio Mix – Q3 FY26
Vehicle Finance - Disbursement/Portfolio Mix – Q3 FY26 Well diversified product segments Disbursements (%) - Product wise Portfolio (%) - Product wise HCV HCV 3 Wheeler 7% 3 Wheeler 7% CE 2% CE 1% LCV 6% LCV 6% 15% 19% 2 Wheeler 2 Wheeler 7% 12% MUV 12% MUV Used Vehicles 13% 27% Used Vehicles 29% CA
Slide 25: Vehicle Finance - Disbursement Mix – Quarter-wise
Vehicle Finance - Disbursement Mix – Quarter-wise Disbursement (₹Cr) - Product wise Disbursement (%) – Product wise * 16,805 1,014 * 14,390 * 14,430 1,232 Low Yield 6% 6% 5% 5% 6% 816 * 13,647 * 13,539 6% 6% 912 6% 7% 7% 854 1,051 670 632 2,494 782 768 15% 17% 16% 16% 15% 2,116 Medium Yield 2,333 2,
Slide 26: Vehicle Finance - Portfolio Mix – Quarter-wise
Vehicle Finance - Portfolio Mix – Quarter-wise Portfolio (₹Cr) - Product wise Portfolio (%) – Product wise * 1,12,937 * 1,07,568 6% 6% 6% 6% 6% * 1,04,720 6,982 * 1,01,257 7% 7% 7% 7% 7% * 96,673 6,600 7,746 6,571 6,490 7,172 Low Yield 6,232 7,058 6,882 19% 19% 19% 19% 19% 6,398 21,167 20,753 20,158
Slide 27: Vehicle Finance - Disbursements and Asset Under Management
Vehicle Finance - Disbursements and Asset Under Management Disbursements (₹Cr) Assets under management (₹Cr) 43,991 * 1,12,937 *1,04,720 *1,07,568 2 39,492 4 * 96,673 6 *92,012 *88,638 12 27 18 1,07,564 1,12,935 1,04,714 91,994 96,660 88,611 16,805 12,766 13,647 13,539 14,390 12,336 Q1 Q1 Q2 Q2 Q3 Q
Slide 28: Vehicle Finance - Income and Profit before tax
Vehicle Finance - Income and Profit before tax Income (₹Cr) Profit before tax (₹Cr) 12,070 2,077 1,918 10,307 4,212 758 3,848 4,010 691 667 3,433 3,619 620 628 631 3,255 Q1 Q1 Q2 Q2 Q3 Q3 YTD YTD Q1 Q1 Q2 Q2 Q3 Q3 YTD YTD FY25 FY26 FY25 FY26 FY25 FY25 Dec24 Dec25 FY25 FY26 FY25 FY26 FY25 FY26 Dec24
Slide 29: Loan Against Property
Loan Against Property ary Colours 29
Slide 30: Loan Against Property – Q3FY26 & YTD Dec25 Performance
Loan Against Property – Q3FY26 & YTD Dec25 Performance Disbursements grew by 26% in Q3 FY26 to Rs. 5,285 Cr as compared to Disbursements Q3 FY25 and by 18% in YTD Dec25 to Rs.14,621 Cr as compared to YTD Dec24. Asset under AUM has grown by 31% YoY. management Loan losses remains at 0.2% in Q3 FY26 a
Slide 31: Loan Against Property: Industry outlook
Loan Against Property: Industry outlook Sector Outlook Chola’s Position • Crisil Intelligence expects overall NBFC credit to • Chola’s LAP team continues to focus on retail grow at a rate of 18-19% during the fiscal years customers especially in smaller towns and rural FY26 and FY27 primarily driven
Slide 32: Loan Against Property - Disbursements and Asset Under Management
Loan Against Property - Disbursements and Asset Under Management Disbursements (₹Cr) Assets under Management (₹Cr) * 49,162 * 46,302 * 43,943 5,678 14,621 4,842 4,226 * 37,564 12,374 * 34,824 1,517 * 32,135 702 759 41,460 43,484 39,717 34,121 36,047 31,376 5,285 4,705 4,295 4,630 3,874 4,205 Q1 Q1 Q
Slide 33: Loan Against Property – Income and Profit before tax
Loan Against Property – Income and Profit before tax Income (₹Cr) Profit before tax (₹Cr) 4,417 1,296 3,280 907 1,474 1,561 431 460 1,382 405 1,091 1,183 320 1,006 292 295 Q1 Q1 Q2 Q2 Q3 Q3 YTD YTD Q1 Q1 Q2 Q2 Q3 Q3 YTD YTD FY25 FY26 FY25 FY26 FY25 FY26 Dec24Dec25 FY25 FY26 FY25 FY26 FY25 FY26 Dec24
Slide 34: Home Loans
Home Loans Primary Colours 34
Slide 35: Home Loans – Q3 FY26 & YTD Dec25 Performance
Home Loans – Q3 FY26 & YTD Dec25 Performance Disbursements grew by 10% at Rs. 2,007 Cr in Q3 FY26 as Disbursements compared to Q3 FY25 and grew by 1% at Rs. 5,468 Cr in YTD Dec25 as compared to YTD Dec24. Asset under AUM has grown by 27% YoY. management Loan losses at 1.1% in Q3 FY26 as compared to
Slide 36: Home Loans - Industry outlook
Home Loans - Industry outlook Sector Outlook Chola’s Position • Moderation in business growth in FY2025 & Q1 FY2026 • Chola’s home loans business is well positioned to benefit from steady demand for affordable housing with a continued focus on first-time vis-à-vis FY2024 resulting in book growth by
Slide 37: Home Loans - Disbursements and Asset Under Management
Home Loans - Disbursements and Asset Under Management Disbursements (₹Cr) Assets under Management (₹Cr) *21,691 5,421 5,468 *19,399 *20,405 253 267 281 *17,121 *15,892 311 *14,565 326 341 -1% -7% 20,138 21,438 19,117 15,566 16,810 2,007 14,224 1,764 1,823 1,697 1,820 1,778 Q1 Q1 Q2 Q2 Q3 Q3 YTD YTD
Slide 38: Home Loans - Income and Profit before tax
Home Loans - Income and Profit before tax Income (₹Cr) Profit before tax (₹Cr) 2,368 626 1,838 511 789 850 219 225 729 663 617 182 171 177 558 163 Q1 Q1 Q2 Q2 Q3 Q3 YTD YTD Q1 Q1 Q2 Q2 Q3 Q3 YTD YTD FY25 FY26 FY25 FY26 FY25 FY26 Dec24 Dec25 FY25 FY26 FY25 FY26 FY25 FY26 Dec24 Dec25
Slide 39: Funding Profile
Funding Profile 1 ». . iN BG SP Chola 39 Murugappa Financial Holdings 9
Slide 40: CAR and Credit Rating
CAR and Credit Rating Capital Adequacy Ratio (CAR) – As per RBI guideline Tier I Tier II 18.57 19.75 19.96 20.00 19.16 3.47 5.34 5.65 5.41 4.95 15.10 14.41 14.31 14.59 14.21 FY24 FY25 Q1FY26 Q2FY26 Q3FY26 Minimum CAR Stipulated by RBI is 15% & for Tier I is 10% Loan type India ratings Care ICRA Cris
Slide 41: Diversified Borrowings Profile (I/II)
Diversified Borrowings Profile (I/II) Borrowing mix by instrument type ₹ Cr * 1,67,076 * 1,74,946 * 1,81,304 * 1,87,515 * 1,97,810 3% 2% 1% 2% 1% 3% 1% 1% 2% 1% 2%1% 2% 3% 5% 6% 3% 3% 2% 3% 17% 15% 14% 16% 15% 6% 8% 7% 7% 7% 6% 7% 7% 7% 6% 11% 11% 12% 11% 11% 46% 44% 44% 43% 43% 6% 6% 7% 6% 6% Q3FY2
Slide 42: Diversified Borrowings Profile (II/II)
Diversified Borrowings Profile (II/II) Borrowing mix by investor type ₹ Cr * 1,67,076 * 1,74,946 * 1,81,304 * 1,87,515 * 1,97,810 6% 7% 7% 6% 6% 17% 15% 14% 16% 15% 2% 3% 0.3% 2% 0.2% 2% 0.3% 3% 0.2% 0.3% 8% 7% 7% 7% 6% 52% 52% 52% 51% 52% 1% 1% 1% 1% 1% 7% 7% 7% 6% 6% 5% 5% 6% 7% 8% 3% 3% 3% 3% 3%
Slide 43: ALM Statement as of 31st Dec 2025 (As per IND AS)
ALM Statement as of 31st Dec 2025 (As per IND AS) ₹ Cr Particulars 1 m >1 to 2m >2 to 3m >3 to 6m >6m to 1 yr >1 to 3 yr >3 to 5 yr >5 yr Total Cash & Bank Balances 5,087.44 2,785.45 6,665.58 501.72 627.40 1,744.03 918.83 - 18,330.44 Advances 6,632.87 5,994.43 5,219.85 18,998.80 32,932.43 82,531.43
Slide 44: Cholamandalam MS General Insurance Company Limited
Cholamandalam MS General Insurance Company Limited Financial data in this section is as per IGAAP 44
Slide 45: Chola MS General Insurance: Brief Overview
Chola MS General Insurance: Brief Overview Murugappa Group Mitsui Sumitomo Insurance, Japan ◼ Murugappa Group - India's leading business ◼ Mitsui Sumitomo Insurance - part of MS&AD – one of conglomerate the largest insurance group in the world. ◼ Founded in 1900, Headquartered in Chennai, the INR 90
Slide 46: Key Financial Parameters (Rs. Crs)
Key Financial Parameters (Rs. Crs) Particulars – In Rs. Cr FY’24 FY’25 Q3 FY 25 Q3 FY 26 YTD Dec FY25 YTD Dec FY26 Gross Written Premium# 7598 8328 2057 2338 6193 6555 NEP 5079 5806 1510 1697 4241 4888 U/W Results -659 -661 -195 -303* -509 -738* Investment income (Net) 1116 1307 337 364 995 1076 PBT
Slide 47: Financial Performance (Rs. Crs)
Financial Performance (Rs. Crs) Excluding 1/n impact With 1/n impact Particulars (In Rs. Crs) Q3 FY 26 YTD Dec FY26 Q3 FY 26 YTD Dec FY26 GWP* 2441 6861 2338 6555 GWP growth 11.9% 8.6% 13.66% 5.85% PAT 84 331 59 257 PAT Growth -24.6% -11.0% -41.9% -29.2% ROE (not annualised) 2.5% 10.3% 1.8% 8.2% COR
Slide 48: LOB Wise - Growth Trends of Multi-line Insurers
LOB Wise - Growth Trends of Multi-line Insurers LOB Wise - Growth trends In YTD Dec FY26, Other ▪ Growth restored in Particulars Months Fire Comml Motor Health PA Crop Others Total fire line of business Lines in Q3 H1 FY'26 20.5% 7.7% 7.6% 7.6% 33.8% -43.3% 7.9% 5.3% ▪ Motor growth Industry Q3 FY'26
Slide 49: Among the Top ranked GI Players supported by strong growth
Among the Top ranked GI Players supported by strong growth GWP growth 1.5 times of Industry growth in last 4 years Rs In Crs (CAGR FY2021 - FY 2025 = 17.3%) YTD Dec FY’2026 8328 7598 6200 6555 4400 4854 2.72% Market share FY'21 FY'22 FY'23 FY'24 FY'25 YTD Dec FY'26 Growth vis-à-vis peers / industry
Slide 50: Key Financial Indicators
Key Financial Indicators GWP (INR Cr) and Growth (%) Return on Net Worth – Not Annualized (%) Includes RI Inwards 22.5% 18.5% 900 0 251 25. 0% 306 800 0 700 0 126 20. 0% 14.3% 7598 8328 12.7% 10.0% 600 0 13.7% 6193 15. 0% 500 0 400 0 6555 103 10. 0% 300 0 126 8.2% 200 0 9.6% 2338 11.0% 5.0 % 100 0 2
Slide 51: Profit (PBT) waterfall YTD Dec FY26 Vs YTD Dec FY25
Profit (PBT) waterfall YTD Dec FY26 Vs YTD Dec FY25 Rs In Crs 87 150 88 76 63 21 7 574 486 486 512 436 373 352 352 352 346 PBT (YTD Dec Increase in Inv. Reduction in Increase in TP Increase in LR - Decrease in RI Impact of RI PBT (YTD Dec New Labour PBT (YTD Dec FY25) Income & Others EOM inflation l
Slide 52: Capital efficiency - No Capital Infusion in last 13 years
Capital efficiency - No Capital Infusion in last 13 years Rs In Crs Net Worth 2492 2999 2855 3256 2,814 2557 2,413 2050 442 442 442 442 FY'24 FY'25 YTD Dec FY 25 YTD Dec FY 26 Capital Invested Reserves ▪ Accumulated profits @ 86.4% of Net worth (Rs.3256 Crs) as on Dec’25 ▪ Total Capital infused is R
Slide 53: Claims Ratio (%)
Claims Ratio (%) YTD Dec YTD Dec Line of Business FY’24 FY’25 Q3 FY’25 Q3 FY’26 FY’25 FY’26 Motor OD 72.8% 73.6% 71.5% 82.9% 74.0% 83.1% Motor TP* 76.0% 72.2% 70.5% 78.2% 71.3% 78.9% Motor Total 75.1% 72.6% 70.8% 79.8% 72.1% 80.3% Health, Travel & PA@ 66.7% 73.0% 75.5% 87.1% 72.3% 86.3% Crop 104.2%
Slide 54: Investment Book Overview (Rs In Crs)
Investment Book Overview (Rs In Crs) Category Mar-24 Mar-25 Sep-25 Dec-25 Govt Securities 10121 7871 6863 6545 PSU / Corporate Bonds 5475 8779 9911 10416 Equity 583 1001 1140 1244 Others 322 600 468 506 Grand Total 16501 18251 18382 18711 Yield with profit on sale 7.1% 7.5% 7.1% 7.1% Yield without p
Slide 55: Dominance in Motor, Diversification Underway
Dominance in Motor, Diversification Underway Motor Market Share (Largest GI Segment) Strategized diversification across Motor eco-system GI Market Share by GWP 75.6% 75.1% 72.6% 81.1% 19.6% 16.7% 14.9% 11.3% 5.4% 5.5% 37.4% 5.3% 5.3% 43.8% 42.8% 44.6% 42.3% 51.3% 35.9% 39.5% FY'23 FY'24 FY'25 YTD De
Slide 56: Dominance in Motor, Gaining Prominence in Other Segment
Dominance in Motor, Gaining Prominence in Other Segment 1.6% 6.2% 1.6% 3.4% 8.3% 8.9% 5.1% 7.3% 6.0% 4.6% 4.0% 6.9% 4.8% 2.5% 5.3% 4.5% 5.3% 7.5% 6.5% 6.3% 17.8% Crop 12.0% 11.0% 14.2% 11.4% PA & Others Group Health Retail Health Commercial 65.9% 65.4% 66.8% 70.3% 64.0% Motor FY'24 YTD Dec FY'25 FY'
Slide 57: Retail Focused Diversified Operations
Retail Focused Diversified Operations Retail dominated business mix Steady growth in policy issuance over the years No. of policies issued (in Lacs) Commercial 19.2% 137 130 121 85 Retail 80.8% FY'23 FY'24 FY'25 YTD Dec FY'26 Significant growth in retail oriented policies Geographic Presence – Mix %
Slide 58: Multi-Channel Model Ensures Less Concentration & Diversified Revenue Stream
Multi-Channel Model Ensures Less Concentration & Diversified Revenue Stream Channel wise Mix% 7.2% 7.7% 7.8% 2.9% 2.1% 11.6% 11.7% 9.8% 8.1% 12.5% 6.4% 6.1% 5.8% 2.7% 2.6% 36.5% 41.7% 41.0% 50.5% 48.0% 29.2% 25.3% 25.4% 18.2% 19.8% 14.5% 11.4% 11.2% 10.5% 11.7% FY'24 FY'25(1/n) YTD Dec FY'25 YTD Dec
Slide 59: Technology Transformation Initiatives
Technology Transformation Initiatives Core PAS System Upgrade Adoption of new Work flow Solutions ▪ Agile configuration capabilities to enable faster time to ▪ Working on upgrading workflow solution for increased market with new product launches productivity across user groups ▪ Out of the box micro
Slide 60: We Continue to Invest Further in Tech & Data to Power our Future Digital Journey
We Continue to Invest Further in Tech & Date to Power our Future Digital Journey 3 4 Data Enablement Digital Enablement & Tech Transformation • Enablement of analytics use cases – Analytics in fraud management, renewals, cross-sell, • Digitally enabling the sales force up-sell – A super app powering
Slide 61: Centralized Data Platform in Place having Ability to Power Data Intensive Application
Centralized Data Platform in Place having Ability to Power Data Intensive Application and Deploying Analytical Models Digital Sales Apps Technical Reports Foundational capabilities allows us quicker Analytics Models onboarding for analytical use cases Analytics COE Native AWS stack being used to bui
Slide 62: Overview of the General Insurance Industry in India
#3 Overview of the General Insurance Industry in India 62
Slide 63: Indian General Insurance: Large addressable market
Indian General Insurance: - Large addressable market Significantly underpenetrated Premium as a % GDP Non-Life Insurance Density (Premium per capita) (CY24) (US$) (CY24) (US$) 9.4 7995 5.3 2.6 2.0 2.4 1.9 1.9 1894 1359 1.0 0.7 0.6 654 245 193 151 97 30 25 China Indonesia Brazil India UK USA Japan Ru
Slide 64: Industry has Witnessed Strong Growth Over the last 15 Years
Industry has Witnessed Strong Growth Over the last 15 Years General Insurance Gross Premium has grown >10x over the last 15 years Growth of 8.7% over YTD Dec FY’26 (Rs In Cr) CAGR (Last 15 Years) = 14.9% 289,738 307,659 256,912 250,209 198,724 220,772 170,036 189,302 128,213 150,572 84,686 96,394 38
Slide 65: Motor & Retail Health are the Largest GI Segment and Continue to Grow at Steady Pace
Motor & Retail Health are the Largest GI Segment and Continue to Grow at Steady Pace Motor accounts for 43.3% share of the overall GWP for Private General Insurers (single largest segment) Motor Claim ratio (Private Motor Insurance– GWP Rs in Crs) (Private Motor Insurance– Claims Ratio) CAGR: 14% 65
Slide 66: Favorable Regulations Aiding Growth
Favorable Regulations Aiding Growth Amendment to Acts expected to improve profitability and growth across segments Growth Oriented Requiring Tweaks Impending Product Regulations Rural / Social / TP Obligations Courts’ recognition of amended MV Act Use and File across lines Claim initiation time
Slide 67: Contact us
Contact us Cholamandalam Financial Holdings Limited (CFHL), Dare House, No. 234, NSC Bose Road, Parrys, Our registered Chennai 600001. office Land Line: 044–4090 7638 / 2530 6486 http://www.cholafhl.com Email-ID Krithika E - Company Secretary–krithikae@cfhl.murugappa.com 67
Slide 68: Disclaimer
Disclaimer • Certain statements included in this presentation may be forward looking statements made based on management’s current expectations and beliefs concerning future developments and their potential effects upon Cholamandalam Financial Holdings Ltd and its subsidiaries. There can be no assur
Slide 69: Thank You
Thank You <$ Chola 2% Financial Holdings murugappa
Cholamandalam Financial Holdings — Q3 FY2026 Earnings Presentation on 6ix