Q3 Performance highlights:

Rs in Cr.

Particulars

Q3
2010-2011

Q3
2009-2010

Growth

YTD Dec 2010-11

YTD Dec 2009-10

Growth

Disbursements

1473

1012

46%

4050

2587

57%

Business Assets net of Provisions
(own assets)

7277

4425

64%

7277

4425

64%

Managed Assets net of provisions

8421

6342

33%

8421

6342

33%

Profit Before Tax (Before Exceptional Items)

28.13

11.37

147%

91.75

21.79

321%

Chennai 27th January, 2011: During the quarter, Vehicle Finance disbursed Rs 1158 Cr. (as against Rs. 754 Cr. in Q3 of 2009-10) and Home Equity disbursed Rs 315 Cr. (as against Rs 258 Cr. in Q3 of 2009-10). The corporate and mortgage finance product float grew to Rs 655 Cr. (as against Rs 461 Cr. in Q3 of 2009-10).

The asset financing verticals – represented by Vehicle Finance, Home Equity and Business finance delivered a PBT before exceptional items of Rs 80 Cr. for the Quarter as against Rs 46 Cr. in Q3 of 2009 – 10 recording a growth of 74%.

Personal Loan Portfolio :

The aggregate receivables net of Provisions for the Personal Loan portfolio has come down to Rs.95 Cr. as on 31st December 2010 from Rs.266 Cr. as on 31st December 2009.

Capital Adequacy Ratio :

The Capital Adequacy Ratio of the Company is at 18.76% as on 31st December 2010 compared to 15.61% as on 31st December 2009.

New Branches

During the quarter, the Company expanded its operations to 10 new locations and as on 31st December, 2010 the Company operates out of 220 branches.

Subsidiaries Performance:

The Subsidiaries –Cholamandalam Securities Ltd. and Cholamandalam Distribution Services Ltd reported a PBT of Rs 0.72 Cr. and Rs 1.69 Cr. respectively during the quarter as against a PBT of Rs 0.54 Cr. and Rs 1.70 Cr. in the corresponding quarter of 2009-10. Cholamandalam Factoring Ltd. another subsidiary reported a loss of Rs. 1.72 Cr. as against a loss of Rs 8.33 Cr. in the corresponding quarter 2009-10.

Consolidated Performance:

Consolidated income from operations for the quarter ended 31st December 2010 is at Rs.286.26 Cr. as against Rs 238.71 Cr. for the same period last year and consolidated profit before tax & Exceptional Items for the quarter was at Rs 28.81 Cr. as against a profit of Rs 10.04 cr. during the same period last year.

About Murugappa Group: Founded in 1900, the Rs.13617 Crores (USD 3.03 billion) Murugappa Group is one of India’s leading business conglomerates. The Group has 29 businesses including seven listed companies actively traded in NSE & BSE. Headquartered in Chennai, the major companies of the Group include Carborundum Universal Ltd., Cholamandalam Investment and Finance Company Ltd., Cholamandalam MS General Insurance Company Ltd, Coromandel International Ltd, Coromandel Engineering Company Ltd, EID Parry (India) Ltd, Parry Agro Industries Ltd, Tube Investments of India Ltd and Wendt (India) Ltd.

Market leaders in served segments including Abrasives, Auto Components, Cycles, Sugar, Farm Inputs, Fertilizers, Plantations, Construction, Bio-products and Nutraceuticals, the Group has forged strong joint venture alliances with leading international companies like Mitsui Sumitomo, Foskor, Cargill, Groupe Chimique Tunisien, Winterthur Technology Group and Morgan Crucible. The Group has a wide geographical presence panning 13 states in India and 5 continents.

Renowned brands like BSA, Hercules, Ballmaster, Ajax, Parry’s, Gromor and Paramfos are from the Murugappa stable. The organization fosters an environment of professionalism and has a workforce of over 32,000 employees.


For further information, please contact:

Vinod Kumar /Diya Kinger
Ogilvy Public Relations Worldwide, Chennai
Mobile :98401 26179 / 8939623044