Cholamandalam Investment And Finance Co. Ltd. · NSE:CHOLAFIN
Cholamandalam Investment And Finance — Q1 FY27 Earnings Presentation
105 slides from Cholamandalam Investment And Finance's earnings presentation, Jul 28, 2026
Slide 1: Cover letter to stock exchanges
28 July, 2026 The Secretary The Secretary National Stock Exchange of India Limited BSE Ltd. Trade World, 4th Floor, Kamala Mills Compound, 1st Floor, P.J. Towers Senapati Bapat Marg, Dalal Street, Fort, Lower Parel, Mumbai 400 001 Mumbai 400 013 Dear Sir / Madam, Sub.: Investor Presentation for the
Slide 2: Corporate Presentation June 2026
CORPORATE PRESENTATION June 2026
Slide 3: Table of Contents
Table of Contents 1. Group overview………………………………………………………………………………………….. 3 2. Chola Corporate Overview………………………………………………………………………….. 5 3. Financial Overview …………………………………………………………………………………….. 9 4. Business Segments Overview…........................................................................ 24 a
Slide 4: Murugappa Group Overview
Murugappa Group Overview 3
Slide 5: Murugappa Group in a Nutshell
Murugappa Group in a Nutshell AGRICULTURE ENGINEERING FINANCIAL SERVICES Market Cap(Cr.) 59,263 12,693 22,421 58,766 1,49,977 1,52,740 NA 31,245 Turnover (Cr.) 31,480 38,534 52,063 22,221 12,418 31,073 4,840 39,073 1,898 1,380 1,678 1,116 1,199 5,233 331 5,485 PAT(Cr.) 126 Years of $10.2 Consolidate
Slide 6: Chola Finance Corporate Overview
Chola Finance Corporate Overview 5
Slide 7: Our journey so far
Our journey so far • Equipment financing & 2016 2026 • VF business • New LEAP LOS Digital platform • Launched Gold loan • Started Chola Securities business. 2017 • GaadiBazaar dealer platform • Total AUM crossed ₹2.42 2006 lakh Cr. • JV with DBS bank Singapore 2018 commenced Consumer • Gen 3 scoring
Slide 8: Highlights – Q1 FY27
Highlights – Q1 FY27 Particulars Q1 FY27 vs Q1 FY26 Disbursement Disbursement grew at 22% to Rs.29,612 Cr as compared to Rs. 24,325 Cr Business AUM Rs.2,33,586 Cr, a growth of 22%. NIM Improved to 8.2% as compared to 7.8% PBT Rs.2,220 Cr, a growth of 45% PBT – ROTA Improved to 3.7% as compared to 3.
Slide 9: Strong Geographical Presence
Strong Geographical Presence 119 171 Ladakh (1) 724 691 688 Jammu & Kashmir (10) 545 Punjab (35) Himachal Pradesh (26) Chandigarh (1) 1613 1642 1649 Uttarakhand (23) 1387 Haryana (52) Sikkim (3) Arunachal Delhi (9) Pradesh (1) Rajasthan (121) UP (121) Assam (43) FY24 FY25 FY26 Q1FY27 Bihar (77) Megh
Slide 10: Financial Overview
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Slide 11: Financial Snapshot —15 Years
Financial Snapshot —15 Years ₹ Cr Recovery and Stabilsation COVID New Growth FY12 FY13 FY14 FY15 FY16 FY17 FY18 FY19 FY20 FY21 FY22 FY23 FY24 FY25 FY26 CAGR CAGR CAGR Financials Snapshot YoY (10 (15 IGAAP IGAAP IGAAP IGAAP IGAAP IGAAP INDAS INDAS INDAS INDAS INDAS INDAS INDAS INDAS INDAS (5 years) y
Slide 12: Chola – Disbursement & Portfolio Mix – Q1 FY27
Chola – Disbursement & Portfolio Mix – Q1 FY27 Well diversified product segments Disbursements (%) - Product wise Portfolio (%) - Product wise 3 Wheeler 3 Wheeler 1% 1% 2 Wheeler HL Gol d Gol d 2 Wheeler 2% 6% HL 4% 6% 1% 10% Us ed Vehicles CSEL 14% Us ed Vehicles CSEL 12% Cons umer 16% 7% Cons umer
Slide 13: Disbursements by ecosystem
Disbursements Disbursements (₹Cr) Disbursements (%) 0.4% 2% 2% 8% 7% 7% * 1,11,642 7% 6% 9% 2,469 13% 12% 9% 12% * 1,00,869 7,363 7% 7% 7,404 10,249 9% 8% 7% * 88,725 Cconsumer 7,312 Ecosystem 12,552 19% 6,362 18% 16% 15% 18% 11,281 7,763 20,459 1% 2% 1% 1% 1% 8,106 17,913 1,667 13,554 Ecosystem 1,3
Slide 14: Assets Under Management by ecosystem
Assets Under Management Business - Assets under Management (₹Cr) Business - Assets under Management (%) 0.1% 1% 1% 9% 10% 10% 10% 10% * 2,33,586 * 2,24,334 2,143 8% 7% 8% 7% 7% 1,804 23,644 3% 4% 22,688 4% 4% 4% * 1,92,148 15,884 * 1,84,746 15,113 97 9,923 21% 19,399 Ecosystem Consumer 9,338 22% 23%
Slide 15: Profitability and Net worth
Profitability and Net worth Profit after tax (₹Cr) Networth (₹Cr) *32,078 *30,404 171 5220 170 *24,715 *23,627 4259 168 168 *19,557 3423 168 31,908 30,234 23,459 24,547 19,388 1654 1136 FY24 FY25 FY26 Q1 FY26 Q1 FY27 FY24 FY25 FY26 Q1 FY26 Q1 FY27 Reserves and Surplus Equity Share Capital * Total Ne
Slide 16: Asset Ratios
Asset Ratios Net Income Margin (%) Expenses Ratio (%) 8.2% 8.0% 3.1% 3.1% 7.7% 7.8% 3.0% 3.0% 7.5% 2.9% FY24 FY25 FY26 Q1 FY26 Q1 FY27 FY24 FY25 FY26 Q1 FY26 Q1 FY27 Loan Losses & Provisions (%) ROA - PBT (%) 1.8% 3.7% 1.7% 3.4% 1.5% 3.3% 3.3% 1.4% 3.1% 1.0% FY24 FY25 FY26 Q1 FY26 Q1 FY27 FY24 FY25
Slide 17: Shareholding
Shareholding Shareholding Pattern Institutional Holders (More than 1%) Corporate Top Domestic Institutional Holding Bodies Mutual 5% • Axis Mutual Fund Funds • SBI Mutual Fund 16% • Kotak Mutual Fund • ICICI Prudential Mutual Fund Public • HDFC Mutual Fund Promoters 5% 49% • Invesco Mutual Fund • DS
Slide 18: Shareholders’ Returns Ratios
Shareholders’ Returns Ratios Return on equity (%) Earnings per share (₹) 21.2% 77.8 20.6% 19.8% 19.7% 61.8 54.2 18.8% 50.7 41.2 FY24 FY25 FY26 Q1 FY26 Q1 FY27 FY24 FY25 FY26 Q1 FY26 Q1 FY27 P/E Ratio P/BV Ratio 5.4 5.5 30.0 30.0 5.0 4.8 28.1 3.8 23.0 21.9 FY24 FY25 FY26 Q1 FY26 Q1 FY27 FY24 FY25 FY2
Slide 19: Profit and Loss Statement (As per IND AS)
Profit and Loss Statement (As per IND AS) ₹ Cr Growth % Particulars Q1 FY26 Q1 FY27 FY26 Q1-o-Q1 Disbursements 24,325 29,612 22% 1,11,642 Asset Under Management 2,07,663 2,54,392 23% 2,42,630 Income 7,331 8,933 22% 31,445 Finance Charges 3,466 4,003 15% 14,374 Net Income 3,865 4,930 28% 17,071 Expen
Slide 20: Balance Sheet (As per IND AS)
Balance Sheet (As per IND AS) ₹ Cr Particulars Jun25 Mar26 Jun26 ASSETS Financial Assets 2,06,081 2,41,854 2,52,241 Cash and Bank balance 10,779 14,611 15,150 Derivative financial instruments 318 1,701 1,604 Receivables 374 492 808 * Loans 1,87,642 2,17,571 2,25,548 Investments 6,474 6,638 8,213 Oth
Slide 21: Stagewise Assets & Provision Summary
Stagewise Assets & Provision Summary ₹ Cr Mar-26 Jun-26 Mar-26 Jun-26 Particulars INR Cr INR Cr % to GA % to GA Gross Assets 2,21,942 2,30,249 100.0% 100.0% Stage 1 2,09,689 2,16,420 94.48% 93.99% Stage 2 (A) 5,486 6,263 2.47% 2.72% Stage 3 (B) 6,767 7,565 3.05% 3.29% (A) + (B) 12,252 13,828 5.52% 6
Slide 22: Stagewise ECL Summary – Jun26
Stagewise ECL Summary – Jun26 ₹ Cr ECL Total Total Particulars Asset Model Provn NNPA Asset Provn NNPA Rs in Cr % Stage 1A (A ) 2,15,899 730 730 2,15,169 93.77% 0.34% 93.45% Stage 1B ~ (B ) 521 18 18 503 0.23% 3.45% 0.22% Total Stage 1 (C ) 2,16,420 747 747 2,15,672 93.99% 0.35% 93.67% - - Stage 2A
Slide 23: Stage 3 Assets Product-wise
Stage 3 Assets Product-wise ₹ Cr Closing Gross Stage 3 ECL Provision Net Stage Net Asset Class Asset Stage 3 Asset % Provision Coverage 3 Stage 3% Jun26 2,30,249 7,565 3.29% 3,459 45.73% 4,106 1.78% VF 1,27,396 5,155 4.05% 2,500 48.49% 2,655 2.08% LAP 46,977 1,210 2.58% 457 37.72% 754 1.60% HL 23,62
Slide 24: Chola – Assets Trend
Chola – Assets Trend 47.29% 50.00% 12.00% 45.50% 45.27% 45.73% 44.49% 44.10% 43.03% 43.72% 43.23% 45.00% 10.00% 40.00% Stage 3 8.00% 35.00% 6.00% 3.16% 3.35% 3.36% 3.05% 3.29% 30.00% 4.00% 2.83% 2.91% 2.81% 2.62% 1.38% 1.45% 1.44% 1.44% 1.50% 2.00% 1.19% 1.26% 1.28% 1.27% 25.00% 1.43% 1.57% 1.63% 1.
Slide 25: Business Overview
Business Overview 24
Slide 26: Auto Ecosystem - VF
AUTO ECOSYSTEM - VF
Slide 27: Ecosystem Play in the Auto Sector (CV, PV)
Ecosystem Play in the AUTO Sector CV PV Low Industry Low Low Industry Low Chola Position Chola Position Principal Operator Salaried > 50 Vehicles Large Operators 26- 50 vehicles HCV Self Employed with Returns Returns Financials RISK RISK Medium Operators 10 -25 – HCV & LCV vehicles Taxi and Tour Ope
Slide 28: Ecosystem Play in the Auto Sector (Tractor, CE)
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 Returns Returns Medium Retail operator RISK RISK Medium Farmers Small Retail Operat
Slide 29: Sector outlook – Vehicle Finance business (1/2)
Sector outlook – Vehicle Finance business (1/2) ▪ The Heavy Commercial Vehicle (HCV) segment witnessed 13% growth in Q1 FY’27, recording its highest ever Q1 sales. The segment is supported by healthy freight activity, sustained infrastructure spending and continued replacement demand. ▪ The Light Co
Slide 30: Sector outlook – Vehicle Finance business (2/2)
Sector outlook – Vehicle Finance business (2/2) ▪ The used vehicle market continues to remain resilient, supported by increasing finance penetration, improved vehicle availability and transition of the industry towards organized players. ▪ The Construction Equipment segment witnessed a growth of 9%
Slide 31: Auto Industry Outlook
Auto Industry Outlook Trend in Domestic LCV Sales Trend in Domestic SCV Sales Chol a 4 year Chola YoY growth rate 18% Chola 4 year (in Units) Chola YoY grow th rate 45% (in Units) CAGR 8% CAGR 5% CAGR @ 5% CAGR @ 2% 177832 52160 153618 49152 130086 116779 43065 109939 42471 37428 Q1FY24 Q1FY25 Q1FY2
Slide 32: Auto Industry Outlook
Auto Industry Outlook Trend in Domestic HCV Sales Trend in Domestic Car & MUV Sales Chola 4 year (in Units) Chola 4 year Chola YoY growth rate 43% (in Units) Chola Y oY growth rate 50% CAGR 25% CAGR 19% 1465623 CAGR @ 7% 85523 1266060 69812 998382 1026099 1006488 65203 61722 61742 Q1FY24 Q1FY25 Q1FY
Slide 33: Vehicle Finance - Disbursement/Portfolio Mix Statewise – Q1 FY27
Vehicle Finance - Disbursement/Portfolio Mix Statewise – Q1 FY27 Diversified across geography Disbursements - State wise Portfolio - State wise Dadra and Nagar Haveli Dadra and Nagar Haveli & & Daman and Diu Daman & Diu MP AP Karnataka MP AP 0.05% 0.04% Karnataka Maharashtra Maharashtra 5% 5% 6% 5%
Slide 34: Vehicle Finance - Disbursement/Portfolio Mix – Q1 FY27
Vehicle Finance - Disbursement/Portfolio Mix – Q1 FY27 Diversified product segments Disbursements (%) - Product wise Portfolio (%) - Product wise HCV HCV 6% 3 Wheeler 7% 3 Wheeler LCV CE 2% CE 1% 16% 5% 6% LCV 19% 2 Wheeler 2 Wheeler 8% 12% MUV 14% MUV Used Vehicles 13% 26% Used Vehicles 28% CAR 11%
Slide 35: Vehicle Finance - Disbursement Mix – Quarter-wise
Vehicle Finance - Disbursement Mix – Quarter-wise Disbursement (₹Cr) - Product wise Disbursement (%) – Product wise * 18,132 1,201 5% 5% 6% 5% Low Yield * 16,805 7% * 16,503 6% 6% 1,014 7% 6% 1,694 848 9% 1,232 1,051 17% 16% 16% * 13,647 * 13,539 15% 2,735 15% Medium Yield 670 632 2,494 2,677 782 76
Slide 36: Vehicle Finance - Portfolio Mix – Quarter-wise
Vehicle Finance - Portfolio Mix – Quarter-wise Portfolio (₹Cr) - Product wise Portfolio (%) – Product wise 6% 6% 6% 6% 6% * 1,24,132 * 1,19,558 7% 7% 7% 7% 7% * 1,12,937 7,664 * 1,07,568 7,509 9,038 Low Yield * 1,04,720 6,982 8,732 19% 19% 19% 18% 19% 6,600 7,746 6,571 7,172 22,991 7,058 22,113 21,1
Slide 37: Vehicle Finance: Q1 FY27 Performance
Vehicle Finance: Q1 FY27 Performance Disbursements grew by 21% in Q1 FY27 to Rs. 16,503 Cr as compared Disbursements to Q1 FY26. Assets under AUM has grown by 19% YoY. management Loss and Loan losses improved to 2.0% in Q1 FY27 as compared to 2.2% in Q1 provisions FY26. Profit before tax PBT grew by
Slide 38: Vehicle Finance - Disbursements and Asset Under Management
Vehicle Finance - Disbursements and Asset Under Management Disbursements (₹Cr) Assets under management (₹Cr) *1,24,132 *1,19,558 1 62,123 1 *1,01,257 *1,04,720 53,922 *84,498 9 6 42 48,348 1,19,557 1,24,132 1,01,248 1,04,714 84,456 16,503 13,647 FY24 FY25 FY26 Q1 FY26 Q1 FY27 FY24 FY25 FY26 Q1 FY26
Slide 39: Vehicle Finance - Income and Profit before tax
Vehicle Finance - Income and Profit before tax Income (₹Cr) Profit before tax (₹Cr) 16,511 3,145 14,108 2,824 2,532 11,274 4,597 945 3,848 628 FY24 FY25 FY26 Q1 FY26 Q1 FY27 FY24 FY25 FY26 Q1 FY26 Q1 FY27 38
Slide 40: Vehicle Finance - Asset Ratios
Vehicle Finance - Asset Ratios Net Income Margin (%) Expense Ratio (%) 8.1% 8.2% 3.3% 3.3% 8.0% 7.7% 7.8% 3.2% 3.2% 3.1% FY24 FY25 FY26 Q1 FY26 Q1 FY27 FY24 FY25 FY26 Q1 FY26 Q1 FY27 Loan Losses & Provisions (%) ROA - PBT (%) 2.2% 3.4% 1.9% 2.0% 3.1% 3.0% 2.9% 1.6% 2.4% 1.2% FY24 FY25 FY26 Q1 FY26 Q
Slide 41: Profit and Loss Statement - Vehicle Finance (Managed)
Profit and Loss Statement - Vehicle Finance (Managed) ₹ Cr Growth % Particulars Q1 FY26 Q1 FY27 FY26 Q1-o-Q1 Disbursements 13,647 16,503 21% 62,123 Asset Under Management 1,04,720 1,24,132 19% 1,19,558 Income 3,848 4,597 19% 16,511 Finance Charges 1,853 2,102 13% 7,614 Net Income 1,995 2,494 25% 8,8
Slide 42: VF – Assets Trend
VF – Assets Trend 13.00% 49.19% 48.49% 46.51% 46.29% 45.34% 50.00% 45.75% 45.97% 45.50% 45.46% 11.00% 45.00% 9.00% 40.00% 7.00% 35.00% Stage 3 30.00% 5.00% 4.11% 4.17% 3.84% 4.05% 3.60% 3.67% 3.89% 3.27% 3.52% 25.00% 3.00% 1.77% 1.87% 1.89% 1.89% 1.96% 1.52% 1.65% 1.69% 1.63% 20.00% 1.00% 1.75% 1.95
Slide 43: MSME Ecosystem – LAP, SME & SBPL
MSME Ecosystem – LAP, SME & SBPL 42
Slide 44: Ecosystem Play in the MSME Sector
Ecosystem Play in the MSME Sector Represents Chola’s presence Larger enterprises largely focused by Banks Large SME Focused by via SME business since the last 4 years Medium (SENP) Focused by via LAP business since the last 20 years Mini (SENP) Focused by via SBPL business since the last 4 years Pro
Slide 45: MSME Ecosystem – Q1 FY27 Performance
MSME Ecosystem – Q1 FY27 Performance Disbursements grew by 6% in Q1 FY27 to Rs. 7,151 Cr as compared to Q1 Disbursements FY26 Asset under AUM has grown by 26% YoY. management Loss and Loan losses at 0.6% in Q1 FY27 as compared to 0.5% in Q1 FY26 provisions Profit before tax PBT grew by 44% in Q1 FY2
Slide 46: MSME Ecosystem - Disbursements and Asset Under Management
MSME Ecosystem - Disbursements and Asset Under Management Disbursements (₹Cr) Assets under Management (₹Cr) * 65,171 * 67,782 *29,438 3,730 *26,992 1,667 3,537 1,316 * 53,734 9,923 * 50,490 9,338 *22,734 7,312 2,671 1,074 2,422 7,763 7,119 * 36,240 6,628 8,106 1,404 4,977 52,295 54,130 20,459 *6,769
Slide 47: MSME Ecosystem– Income and Profit before tax
MSME Ecosystem– Income and Profit before tax Income (₹Cr) Profit before tax (₹Cr) * 7,848 763 * 2,201 * 5,775 1,002 218 489 165 * 1,520 * 3,948 743 142 227 111 * 1,089 514 35 6,083 * 2,304 81 1,818 4,543 * 1,759 228 * 692 1,266 * 482 72 3,208 165 317 49 56 213 973 28 1,382 1,758 565 405 FY24 FY25 FY
Slide 48: MSME Ecosystem – Asset Ratios
MSME Ecosystem – Asset Ratios Net Income Margin (%) Expenses Ratio (%) 6.9% 2.2% 2.2% 6.6% 2.2% 6.1% 6.2% 2.1% 5.8% 2.0% FY24 FY25 FY26 Q1 FY26 Q1 FY27 FY24 FY25 FY26 Q1 FY26 Q1 FY27 Loan Losses & Provisions (%) ROA - PBT (%) 0.6% 4.2% 0.6% 3.8% 3.7% 3.6% 3.5% 0.5% 0.3% -0.1% FY24 FY25 FY26 Q1 FY26
Slide 49: Profit and Loss Statement – MSME Ecosystem
Profit and Loss Statement – MSME Ecosystem ₹ Cr Growth % Particulars Q1FY26 Q1FY27 FY26 Q1-o-Q1 Disbursements 6,769 7,151 6% 29,438 Asset Under Management 53,734 67,782 26% 65,171 Income 1,759 2,304 31% 7,848 Finance Charges 951 1,158 22% 4,087 Net Income 809 1,146 42% 3,761 Expenses 266 352 32% 1,2
Slide 50: Loan Against Property
CO OED e—™ Loan Against Property
Slide 51: Loan Against Property – Q1 FY27 Performance
Loan Against Property – Q1 FY27 Performance Disbursements grew by 2% in Q1 FY27 to Rs. 4,780 Cr as compared to Q1 Disbursements FY26. Asset under AUM has grown by 23% YoY. management Loss and Loan losses at 0.4% in Q1 FY27 as compared to 0.3% in Q1 FY26. provisions Profit before tax PBT grew by 39%
Slide 52: Sector outlook: Loan Against Property
Sector outlook: Loan Against Property • The NBFC-Retail sector to continue to grow at a healthy 16-18% in FY2027, though moderating from the previous year. • The LAP segment would continue to grow at a faster pace of 19-21% YoY in FY2027 though moderating from earlier years. • Credit costs in the se
Slide 53: Loan Against Property - Disbursements and Asset Under Management
Loan Against Property - Disbursements and Asset Under Management Disbursements (₹Cr) Assets under Management (₹Cr) 20,459 * 52,295 * 54,130 6,487 7,774 17,913 * 43,943 * 41,439 2,512 4,226 13,554 * 29,859 823 45,808 46,355 38,927 39,717 29,036 4,705 4,780 FY24 FY25 FY26 Q1 FY26 Q1 FY27 FY24 FY25 FY2
Slide 54: Loan Against Property – Income and Profit before tax
Loan Against Property – Income and Profit before tax Income (₹Cr) Profit before tax (₹Cr) 6,083 1,818 4,543 1,266 3,208 973 1,758 565 1,382 405 FY24 FY25 FY26 Q1 FY26 Q1 FY27 FY24 FY25 FY26 Q1 FY26 Q1 FY27 53
Slide 55: Loan Against Property – Asset Ratios
Loan Against Property – Asset Ratios Net Income Margin (%) Expenses Ratio (%) 6.3% 1.8% 1.9% 6.0% 1.8% 5.5% 5.6% 5.7% 1.7% 1.6% FY24 FY25 FY26 Q1 FY26 Q1 FY27 FY24 FY25 FY26 Q1 FY26 Q1 FY27 Loan Losses & Provisions (%) ROA - PBT (%) 0.4% 4.3% 0.3% 3.9% 3.9% 0.3% 3.8% 3.6% 0.2% FY24 FY25 FY26 Q1 FY26
Slide 56: Profit and Loss Statement - Loan Against Property (Managed)
Profit and Loss Statement - Loan Against Property (Managed) ₹ Cr Growth % Particulars Q1 FY26 Q1 FY27 FY26 Q1-o-Q1 Disbursements 4,705 4,780 2% 20,459 Asset Under Management 43,943 54,130 23% 52,295 Income 1,382 1,758 27% 6,083 Finance Charges 775 919 19% 3,302 Net Income 607 839 38% 2,780 Expenses
Slide 57: LAP – Assets Trend
LAP – Assets Trend 12.00% 44.42% 42.50% 41.88% 40.42% 40.88% 45.00% 37.81% 36.54% 37.72% 10.00% 35.75% 40.00% 35.00% 8.00% 30.00% Stage 3 6.00% 25.00% 20.00% 4.00% 15.00% 2.35% 2.27% 2.26% 2.40% 2.43% 2.58% 2.25% 2.02% 2.24% 10.00% 2.00% 1.04% 0.96% 0.92% 0.85% 0.88% 0.87% 0.92% 0.97% 0.85% 5.00% 1.
Slide 58: Profit and Loss Statement – SBPL
Profit and Loss Statement – SBPL ₹ Cr Growth % Particulars Q1 FY26 Q1 FY27 FY26 Q1-o-Q1 Disbursements 359 379 6% 1,667 Asset Under Management 2,671 3,730 40% 3,537 Income 165 228 39% 763 Finance Charges 46 61 32% 207 Net Income 118 167 41% 557 Expenses 56 74 33% 254 Net Credit Losses 14 21 55% 84 PB
Slide 59: Profit and Loss Statement – SME
Profit and Loss Statement – SME ₹ Cr Growth % Particulars Q1 FY26 Q1 FY27 FY26 Q1-o-Q1 Disbursements 1,705 1,992 17% 7,312 Asset Under Management 7,119 9,923 39% 9,338 Income 213 317 49% 1,002 Finance Charges 129 178 37% 578 Net Income 83 139 67% 424 Expenses 37 53 44% 165 Net Credit Losses 19 31 64
Slide 60: Consumer Ecosystem – CSEL, HL, CD & Gold
Consumer Ecosystem – CSEL, HL, CD & Gold
Slide 61: Consumer Ecosystem – Q1 FY27 Performance
Consumer Ecosystem – Q1 FY27 Performance Disbursements grew by 52% to Rs. 5,958 Cr in Q1 FY27 as compared to Disbursements Q1 FY26. Asset under AUM has grown by 24% YoY. management Loss and Loan losses improved to 2.2% in Q1 FY27 as compared to 3.2% in Q1 provisions FY26. Profit before tax PBT grew
Slide 62: Consumer Ecosystem - Disbursements and Asset Under Management
Consumer Ecosystem - Disbursements and Asset Under Management Disbursements (₹Cr) Assets under Management (₹Cr) *41,671 * 39,605 2,143 *20,081 1,804 *19,956 *33,694 2,469 * 33,000 *17,643 97 7,404 * 24,834 22,688 23,644 6,362 7,363 18,427 19,399 13,404 *5,958 11,281 12,552 *3,910 754 10,249 100 15,8
Slide 63: Consumer Ecosystem– Income and Profit before tax
Consumer Ecosystem– Income and Profit before tax Income (₹Cr) Profit before tax (₹Cr) * 6,243 * 1,000 * 1,033 * 5,301 3,274 * 735 * 3,470 2,548 709 865 1,756 489 * 395 * 1,783 * 1,464 * 222 2,754 2,876 270 729 917 1,713 343 182 246 234 734 782 67 129 FY24 FY25 FY26 Q1 FY26 Q1 FY27 FY24 FY25 FY26 Q1
Slide 64: Consumer Ecosystem – Asset Ratios
Consumer Ecosystem – Asset Ratios Net Income Margin (%) Expenses Ratio (%) 10.3% 10.5% 10.4% 10.6% 4.5% 4.4% 4.5% 10.2% 4.3% 4.1% FY24 FY25 FY26 Q1 FY26 Q1 FY27 FY24 FY25 FY26 Q1 FY26 Q1 FY27 Loan Losses & Provisions (%) ROA - PBT (%) 3.2% 3.8% 3.9% 3.1% 3.5% 2.9% 2.8% 2.7% 2.2% 2.0% FY24 FY25 FY26
Slide 65: Profit and Loss Statement – Consumer Ecosystem
Profit and Loss Statement – Consumer Ecosystem ₹ Cr Growth % Particulars Q1FY26 Q1FY27 FY26 Q1-o-Q1 Disbursements 3,910 5,958 52% 20,081 Asset Under Management 33,694 41,671 24% 39,605 Income 1,464 1,783 22% 6,243 Finance Charges 618 709 15% 2,554 Net Income 846 1,074 27% 3,689 Expenses 355 457 29%
Slide 66: Home Loans
Home Loans
Slide 67: Home Loans – Q1 FY27 Performance
Home Loans – Q1 FY27 Performance Disbursements grew by 2% at Rs. 1,797 Cr in Q1 FY27 as compared to Q1 Disbursements FY26. Asset under AUM has grown by 22% YoY. management Loss and Loan losses remained at 0.6% in Q1 FY27 as compared to Q1 FY26. provisions Profit before tax PBT grew by 48% to Rs. 270
Slide 68: Sector outlook: Home loans
Sector outlook: Home loans • ICRA expects AUM of AHFCs to rise by 19% -21% in FY26 and FY27 supported by Government’s thrust on “housing for all’ • Overall cost of funds could be impacted by external factors like inflationary pressures and shall remain monitorable • Profitability indictors were supp
Slide 69: Home Loans - Disbursements and Asset Under Management
Home Loans - Disbursements and Asset Under Management Disbursements (₹Cr) Assets under Management (₹Cr) 7,404 *22,688 *23,644 7,363 228 240 6,362 *18,427 *19,399 281 296 *13,404 356 22,448 23,416 18,131 19,117 13,048 1,764 1,797 FY24 FY25 FY26 Q1 FY26 Q1 FY27 FY24 FY25 FY26 Q1 FY26 Q1 FY27 On Book A
Slide 70: Home Loans - Income and Profit before tax
Home Loans - Income and Profit before tax Income (₹Cr) Profit before tax (₹Cr) 3,274 865 709 2,548 1,756 489 270 917 729 182 FY24 FY25 FY26 Q1 FY26 Q1 FY27 FY24 FY25 FY26 Q1 FY26 Q1 FY27 69
Slide 71: Home Loans – Asset Ratios
Home Loans – Asset Ratios Net Income Margin (%) Expenses Ratio (%) 8.8% 8.7% 8.9% 4.1% 8.6% 8.0% 3.7% 3.6% 3.6% 3.5% FY24 FY25 FY26 Q1 FY26 Q1 FY27 FY24 FY25 FY26 Q1 FY26 Q1 FY27 Loan Losses & Provisions (%) ROA - PBT (%) 1.0% 4.7% 4.5% 4.5% 4.2% 0.6% 0.6% 3.9% 0.4% 0.2% FY24 FY25 FY26 Q1 FY26 Q1 FY
Slide 72: Profit and Loss Statement - Home Loans (Managed)
Profit and Loss Statement - Home Loans (Managed) ₹ Cr Growth % Particulars Q1 FY26 Q1 FY27 FY26 Q1-o-Q1 Disbursements 1,764 1,797 2% 7,363 Asset Under Management 19,399 23,644 22% 22,688 Income 729 917 26% 3,274 Finance Charges 352 402 14% 1,481 Net Income 377 515 36% 1,792 Expenses 165 208 26% 730
Slide 73: HL – Assets Trend
HL – Assets Trend 5.00% 50.00% 4.00% 36.31% 35.38% 40.00% 32.63% 31.45% 30.90% 29.22% 28.49% 28.09% 27.66% 3.00% 30.00% Stage 3 1.85% 20.00% 2.00% 1.68% 1.65% 1.55% 1.22% 1.32% 1.33% 1.04% 1.15% 0.52% 10.00% 0.48% 0.46% 0.41% 0.48% 0.55% 1.00% 0.36% 0.36% 0.34% 0.00% 1.20% 1.33% 1.20% 0.79% 0.86% 0.
Slide 74: Profit and Loss Statement – CSEL
Profit and Loss Statement – CSEL ₹ Cr Growth % Particulars Q1 FY26 Q1FY27 H1FY24FY26 Q1-o-Q1 Disbursements 2,046 3,408 67% 10,249 Asset Under Management 14,199 15,884 12% 15,113 Income 734 782 7% 2,876 Finance Charges 265 268 1% 1,016 Net Income 470 515 10% 1,860 Expenses 164 204 25% 720 Net Credit
Slide 75: Funding Profile
Funding Profile 74
Slide 76: Diversified Borrowings Profile (I/II)
Diversified Borrowings Profile (I/I) Borrowing mix by instrument type ₹ Cr * 1,81,304 * 1,87,515 * 1,97,810 * 2,10,867 * 2,20,247 2% 1% 2% 1% 1% 2% 0.3% 2% 0.3% 2% 3% 5% 6% 5% 5% 3% 2% 2% 1% 3% 14% 15% 16% 15% 15% 7% 7% 7% 7% 7% 7% 6% 7% 6% 7% 12% 11% 11% 14% 12% 44% 43% 43% 42% 43% 7% 6% 6% 6% 7% Q
Slide 77: Diversified Borrowings Profile (II/II)
Diversified Borrowings Profile (II/II) Borrowing mix by investor type ₹ Cr * 1,81,304 * 1,87,515 * 1,97,810 * 2,10,867 * 2,20,247 7% 6% 6% 7% 7% 14% 16% 15% 15% 15% 0.2%2% 0.3% 3% 0.2% 2% 0.5% 2% 0.2% 3% 7% 7% 7% 7% 7% 52% 51% 52% 52% 51% 0.7% 0.7% 0.6% 0.6% 0.5% 7% 6% 6% 7% 7% 6% 7% 8% 6% 8% 3% 3%
Slide 78: ALM Statement as of 30th Jun 2026 (As per IND AS)
ALM Statement as of 30th Jun 2026 (As per IND AS) ₹ Cr Particulars 1m >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 5,437.21 1,025.87 5,110.18 1,328.32 2,131.10 3,495.78 2,074.12 2,040.32 22,642.90 Advances 7,553.21 7,252.81 5,949.31 21,341.75 36,618.0
Slide 79: CAR and Credit Rating
CAR and Credit Rating Capital Adequacy Ratio (CAR) – As per RBI guideline Tier I Tier II 18.57 19.75 19.21 19.81 17.13 2.35 3.47 5.34 4.48 5.00 14.78 15.10 14.41 14.73 14.81 FY23 FY24 FY25 FY26 Q1FY27 Minimum CAR Stipulated by RBI is 15% & for Tier I is 10% Loan type India ratings Care ICRA Crisil S
Slide 80: Consolidated Financials
Consolidated Financials 79
Slide 81: Consolidated Profit & Loss
Consolidated Profit & Loss ₹ Cr Growth % Particulars Q1FY26 Q1FY27 FY26 Q1-o-Q1 Income 7,353 8,957 22% 31,539 Expenses 5,822 6,735 16% 24,566 PBT 1,531 2,222 45% 6,973 PAT 1,138 1,656 46% 5,233 80 Note: Above financials includes Chola Sec, Chola Home Finance, Paytail and Payswiff.
Slide 82: Risk Management
Risk Management 81
Slide 83: Our Enterprise Risk Management strategy covers all aspects of risk
Our Enterprise Risk Management strategy comprehensively covers all aspects of risk 1 Risk Vision Risk Pillars 2 3 4 5 6 7 Cyber & Capital & Regulatory & Key Credit Fraud Information Liquidity Compliance Emerging Risk Risk Security Risk Risk Risks Risk 8 Risk Organization 9 Risk Governance & Reportin
Slide 84: Best-in-class practices across all key risk areas (I/II)
We have integrated best-in-class practices across all key risk areas (I/II) Category Key Highlights Risk vision • Risk Appetite Statement implemented as a strategic lever: Strong linkage to functions with 1 well-defined thresholds and robust governance mechanisms Capital & • Well-diversified source
Slide 85: Best-in-class practices across all key risk areas (II/II)
We have integrated best-in-class practices across all key risk areas (II/II) Category Key Highlights Built/ deployed robust capabilities, processes and toolkits to manage growing cyber risks • Deployed Brand Monitoring to identify and protect against misuse of our brand across digital platforms • Ro
Slide 86: Capital & Liquidity risk | Well managed with judicious buffers
Capital & Liquidity risk | Well managed with judicious buffers maintained consistently ALM: Stringent Internal thresholds Liquidity: LCR reported is 194% - 1.94x of RBI mandate on average Distribution of reported LCR (Q1 FY26 – Q1 FY27) Chola internal Time bucket RBI thresholds thresholds RBI manda
Slide 87: Capital & Liquidity risk | Sufficient Tier 1 capital
Capital & Liquidity risk | Sufficient Tier 1 capital (₹Cr) Per regulatory guidance, NBFCs to Chola held 14.81% Total RWA as on 30th Jun’26 maintain at least of RWA as Tier I 10% of RWA as Tier I capital as on 30th 2,05,177 capital Jun’26 ~Rs 630 Cr maintained as CCD as 630 part of Tier- 2 capital 30
Slide 88: Holistic risk management for credit risk mitigation
Holistic risk management for credit risk mitigation Robust Business Decision Multi-faceted Proactive portfolio Matrix based on key criteria underwriting process monitoring at a customer level • Choosing right customer mix upfront for Input variables leveraged- • Rigorous non-starter/early default mo
Slide 89: Regulatory & compliance risk | Effective governance
Regulatory & compliance risk | Effective governance augmented by a strong compliance function Governance & Compliance form the core of 20+ professionals every business and functional process with collective experience of 200+ years Strong ‘Compliance- first’ approach tone setting from the Board and
Slide 90: Regulatory & compliance risk | Robust compliance mechanisms
Regulatory & compliance risk | Governance further strengthened by robust compliance mechanisms Regular Independent Audit Annual review and approval of all Committee meetings held key policies by the Board Specific focus on review of compliance of policies and processes Monthly concurrent Internal Di
Slide 91: Cyber risk | Regular monitoring & strong internal processes
Cyber risk | Regular monitoring & strong internal processes to prevent, detect & mitigate cyber risk People Process Tools & Technology 1 • Well-equipped, adept 3 •5 Continuous expansion of suite of Continued effort towards team of security professionals to tools to monitor threats, potential strengt
Slide 92: Risk governance & reporting
Risk governance & reporting | Clearly defined roles & responsibilities for effective corporate governance Organization structure setup to ensure effective governance Well-defined tracking mechanism & review cadence 1 RCSA (Risk control and self-assessment) conducted across • Oversee the entire risk
Slide 93: Information Technology
Information Technology 92
Slide 94: Chola's overall technology focus spread across all layers
Chola's overall technology focus spread across all layers Systems of Engagement Direct to Customer LOS CRM Partner Integration (GB, Chola One) Systems of Record Loan Customer Management Collections Accounting Treasury Database System Systems of Intelligence Other Core Areas Copyright © 2021 by Bosto
Slide 95: Digitization of Loan Origination System (LOS)
Organization-wide capabilities built for digitization of Loan Origination System (LOS) Loan Underwriting Sourcing Disbursement journey & Loan Sanction Integration with Partners / OEMs Third party validations Document digitization Validated KYC via golden sources Automated bureau checks E-Sign Digiti
Slide 96: Digital Collection Management System
We have a comprehensive digital Collection Management System to manage end-to-end collection process Analytics Engine 1 (EWS) 10 Easy payment through Bitly link Allocation Rule Engine Customers 2 (Automatic allocation) 11 Real time view of MIS/reports 3 E-receipts (view/download) 12 Integrated conta
Slide 97: Chola One platform envisioned to be a super-app
Chola One platform envisioned to be a super-app, a one-stop-shop for all our products, lead generation, VAS, customer service Organic Traffic One-stop shop for financial products One-stop shopPhase for financial 1 products (SEO) Lending Insurance & WM VAS • PL • LI • Credit CSEL Propensity • VF • HI
Slide 98: E2E integrated ecosystem for VF
We are building an E2E integrated ecosystem for VF Monthly Avg. Used vehicle marketplace SEO Score1 Page authority Unique Users • Vehicle listing for selling (out of 100) (score out of 100) (site traffic) • Dealer info for buying 92 38 • GenAI Search 1.9M+ "Used truck" New vehicle discovery search r
Slide 99: Data and Analytics team across customer journey
Our Data and Analytics team works across the entire value chain of customer journey EWS Model UW Scorecards mo A cc torin ou g ni nt nt Credit assessme Roll-forward Model Risk-based pricing l Cross sel Bureau enrichment & S al es for DPD customers Pre-approved offer Propensity models CIBIL Alerts ge
Slide 100: AI to drive efficiency across the lending value chain
AI to drive efficiency and effectiveness across the lending value chain AI agents for lead AI agents for AI based facial Customer nurturing and customer drop-off verification & signature qualification management KYC & liveliness check validation identity Sales Vernacular voice agents for Voice agent
Slide 101: Environmental Social Governance
Environmental Social Governance 100
Slide 102: We Believe In Making A Positive Impact In The Society
ESG POLICY We Believe In Making A Positive Impact In The Society Environmental Social Governance As an environmentally responsible To enable better opportunity for all, we The company has strong commitment company, we focus on sustainability and ensure financial inclusion of to values and ethical bu
Slide 103: Chola ESG Rating and Ranking
Chola ESG Rating and Ranking CSRhub Sustainalytics higher score indicates lower risks S&P lower rank indicates lower risk 80 higher score indicates lower risks 70 67 26 63 24.9 40 25 24.7 60 34 24.1 35 30 50 43 45 24 30 40 25 23 19 30 20 16 22 21.6 15 20 21 10 10 5 20 0 0 19 FY 23 FY 24 FY 25 FY 26
Slide 104: Social Responsibility Year-wise Thematic Allocation
Social Responsibility Year-wise Thematic Allocation (₹ Cr) FY 26 43 10 1 14 11 11 FY 25 31 20 1 8 8 7 FY 24 23 24 3 11 5 FY 23 22 12 4 3 12 FY 22 19 8 12 3 1 4 Health Education Rural Development Environment Disaster Relief Sports *Others Note: *Others includes Armed Forces, Livelihood, Slum developm
Slide 105: Contact email IDs
EMAIL ID: Sujatha P- Chief Compliance Officer –companysecretary@chola.murugappa.com Arulselvan D- Chief Financial Officer – cfo@chola.murugappa.com
Cholamandalam Investment and Finance Company — Q1 FY27 Earnings Presentation on 6ix