Cholamandalam Investment and Finance Company Limited

Total assets under Management up by 24% crosses Rs.25000 crores, Q4 PAT up by 6%, YTD PAT up by 19%

 

Q – 4 Performance Highlights:

Chennai, Apr 28th, 2014: Disbursements in vehicle finance were marginally lower while disbursements in Home equity loans grew by 23% compared to the same period last year.

The Company disbursed rs2795 Cr in Vehicle Finance as against rs3140 Cr in Q4 of 2012-13 and disbursed rs785 Cr in Home Equity loans as against rs638 Cr in Q4 of 2012-13.

Disbursement from new businesses was rs92 Cr The aggregate disbursements of the Company for the quarter are rs3673 Cr as againstrs3808 Cr in Q4 of 2012-13.

Total Income is rs847.95 Cr compared to rs725.95 Cr in Q4 of 2012-13 registering a growth of 17%.

Profit before tax is rs137.58 Cr as against rs122.47 Cr in Q4 of 2012-13 registering a growth of 12%.

Profit after tax is rs90.73 Cr as against rs85.76 Cr in Q4 of 2012-13 registering a growth of 6%.

FY – 14 – Performance Highlights:

The Company disbursed rs10128 Cr in Vehicle Finance as against
rs9882 Cr in FY-13, disbursed rs2810 Cr in Home Equity loans as against rs2161 Cr in FY-13 and in the new businesses disbursed rs176 Cr The aggregate disbursements of the Company for the FY-13 are
rs13114 Cr as against rs12118 Cr in FY-13 registering a growth of 8%.

Total Income is rs3262.84 Cr compared to rs2555.68 Cr in FY 13 registering a growth of 28%.

Profit before tax is rs550.21 Cr as against rs450.80 Cr in FY-13 registering a growth of 22%.

Profit after tax is rs364.01 Cr as against rs306.55 Cr in FY-13 registering a growth of 19%.

Financial Performance – Summary :

2012-13

 Particulars

2012-13

Q-o-Q Y-o-Y
 Q-IV FY 12-13 Q – IV FY 13-14 Growth Growth
 3,807.78  12,118.27  Disbursements Total Income 3,672.57 13,114.22 -4% 8%
 725.95  2,555.68 847.95 3,262.84 17% 28%
 122.47  450.80  Profit Before Tax Profit After Tax 137.58 550.21 12% 22%
 85.76  306.55 90.73 364.01 6% 19%

• The Company has expanded its presence to 574 branches as on 31st March 2014 compared to 518 as on 31st March 2013. The additional branches are in Tier III and Tier IV locations across India.

• The Company raised Tier II capital of rs328 Cr during the FY14 by way of subordinated debt and perpetual debt instruments to strengthen its capital adequacy ratio.

• The capital adequacy ratio (CAR) of the company remained at 17.23% as compared to the regulatory requirement of 15%.

Portfolio Quality:

The sustained slowdown in the economy and reduction in freight earnings of the borrowers resulted in continued pressure on the asset quality. With a vigorous focus on portfolio quality, the Company contained GNPA at 1.9% and NNPA at 0.7%. We continue to follow an aggressive provisioning policy resulting in an incremental provision of rs122 crores above RBI norms thus ensuring provision coverage of 60%. We continue to follow a stringent credit selection approach which is reflected in the disbursement growth being relatively lower as compared to the previous year especially in the vehicle finance business.

Subsidiaries Performance:

The subsidiaries had made a profit of rs4.27 Cr during the year as against rs1.03 Cr in FY – 13.

Consolidated Results:

The consolidated profit after tax for the year was rs368.28 Cr as against a PAT of rs307.91 Cr in FY – 13 registering a growth of 20%.

Others:

The Board has recommended a final dividend of  rs1/- per share (10 % on the face value of rs10/- per share) to its equity shareholders. Including the interim dividend, the total dividend if declared by the shareholders will be rs3.50/- per share.