Cholamandalam Financial Holdings LimitedAnnual Report 2023-24
III. Operations | ||||||
18. Number of locations where plants and/or operations/offices | of the entity are situated: | |||||
Locations | Number of Plants* | Number of offices | Total | |||
National | NA | 1,539 | 1,539 | |||
International | NA | Nil | Nil |
- The group is not engaged in manufacturing activities, hence this criterion is not applicable.
19. Markets served by the entity:
a. Number of locations
Locations | Number |
National (No. of States) | Lending Business: 26 States / 6 Union Territories |
Insurance Business: 25 States | |
International (No. of Countries) | Nil |
- What is the contribution of exports as a percentage of the total turnover of the entity?
Nil. The group provides financial services to the Indian market.
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A brief on types of customers
Lending Business: The company focusses on retail borrowers including First time Borrowers (FTB) and New to Credit Customers (NTCC) ensuring financial inclusion. Following are the types of customers based on the products: - Vehicle Financing: Transport entrepreneurs, FTB and NTCC predominantly in geographies with limited presence of banks and other organized financiers.
- Loan against Property: Small business entrepreneurs against the collateral of self-occupied residential property.
- Affordable Housing: Underserved customers in Tier III, IV, V, and VI cities to enable them to achieve their dream of owning a home. It also serves customers from unorganized segments who receive their salaries in cash and women borrowers.
- Secured Business and Personal Loans (SBPL): Under-servedself-employednon-professional customers (eg, grocery shop, dairy owners, unskilled laborers, low salaried/cash salaried workers).
- SME Loans: Funding to Micro, Small, and Medium Enterprises (MSME) customers through various products like Term Loan against property as collateral, Equipment Finance as against machinery as collateral, and supply chain finance for purchase & sales of inventory to their customers. This supports SME customers for their working capital needs. The company has also forayed into leasing thereby enhancing the loan offerings to the borrowers as per their requirements.
- Consumer and Small Enterprises Loans (CSEL): Unsecured lending to retail customers including NTCC through partnership business to support lower-income segment people, salaried, self employed and proprietorships/partnerships etc.,
General Insurance Business:
Provides wide range of products and services to both commercial and retail customers. The customer base includes corporates, small, micro, medium enterprises and individuals. The vehicle insurance business provides insurance coverage for two wheelers, four wheelers, commercial vehicles and tractors. The property and casualty insurance business comprises the marine, fire, engineering, commercial, SME and bancassurance verticals. The business also provides health, accident and travel insurance.
IV. Employees
20. Details as at March 31, 2024:
- Employees and workers (including differently abled):
SN. | Particulars | Total (A) | Male | Female | ||||
No. (B) | % (B/A) | No. (C) | % (C/A) | |||||
EMPLOYEES | ||||||||
1. | Permanent (D) | 39,734 | 38,533 | 97% | 1,201 | 3% |
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Corporate Overview Management Reports Financial Statements
SN. | Particulars | Total (A) | Male | Female | ||||
No. (B) | % (B/A) | No. (C) | % (C/A) | |||||
EMPLOYEES | ||||||||
2. | Other than Permanent (E) | 13 | 11 | 85% | 2 | 15% | ||
3. | Total employees (D + E) | 39,747 | 38,544 | 97% | 1,203 | 3% | ||
WORKERS |
4. Permanent (F)
5. | Other than Permanent (G) | Nil |
6. Total workers (F + G)
b. Differently abled Employees and workers:
SN. | Particulars | Total (A) | Male | Female | |||||
No. (B) | % (B/A) | No. (C) | % (C/A) | ||||||
DIFFERENTLY ABLED EMPLOYEES | |||||||||
1. | Permanent (D) | 21 | 20 | 95% | 1 | 5% | |||
2. | Other than permanent (E) | - | - | - | - | - | |||
3. | Differently Abled employees | 21 | 20 | 95% | 1 | 5% | |||
(D + E) | |||||||||
DIFFERENTLY ABLED WORKERS
4. Permanent (F)
5. | Other than Permanent (G) | Nil |
6. Total workers (F + G)
21. Participation/Inclusion/Representation of women as on March 31, 2024:
Particulars | Total (A) | No. and percentage of Females | |
No. (B) | % (B/A) | ||
Board of Directors | 6 | 1 | 16.7% |
Key Management Personnel | 2 | 1 | 50% |
22. Turnover rate for permanent employees and workers as on March 31, 2024:
Particulars | FY 24 | FY 23 | FY 22 | ||||||
Male | Female | Total | Male | Female | Total | Male | Female | Total | |
Permanent Employees | 33% | 24% | 32% | 19% | 19% | 19% | 16% | 22% | 16% |
Permanent Workers | NA | NA | NA | ||||||
- Holding, Subsidiary and Associate Companies (including joint ventures)
23. Names of holding/subsidiary/associate companies/joint ventures:
Indicate whether | Does the entity indicated | |||||
Name of the holding/subsidiary/ | Holding/ | % of shares | at column A, participate in | |||
SN. | associate companies/ | Subsidiary/ | held by | the Business Responsibility | ||
joint ventures (A) | Associate/Joint | listed entity | initiatives of the listed | |||
Venture | entity? (Yes/No) | |||||
1. | Cholamandalam | Investment and | Associate* | 44.39 % | Yes | |
Finance Company Limited ('CIFCL') | ||||||
2. | Cholamandalam | MS | General | Subsidiary | 60.00% | Yes |
Insurance ('CMSGICL') | ||||||
3. | Cholamandalam | MS Risk | Services | Joint Venture | 49.99% | No |
Limited ('CMSRSL') | ||||||
* Treated as a subsidiary under Ind-AS for consolidation purposes |
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