Cholamandalam Inv & Fin Co (CHOLAFIN) Stock Price, Fundamentals, Valuation & Analysis

🧬 TickerPulse Stock DNA

8-pillar deterministic fundamental framework with transparent methodology

Composite: Not available

⚡ What Changed? (Recent Signal Radar)

Real-time delta analysis across price discovery, institutional flows, and disclosures

Evidence-Backed Signals • Q3 FY25

Price Move ↑

+1.34%

Short-term demand accumulation with positive intraday momentum.

Inspect Evidence →

Institutional Flow (FII/DII) 🏛️

Holding at 24.5%

Foreign & domestic institutions retain solid allocation across top-tier funds.

Inspect Evidence →

Capital Productivity ⚙️

ROE: 19.3%

Double-digit return on equity ensures sustainable organic balance sheet expansion.

Inspect Evidence →

Exchange Filings & Disclosures 📑

3 Verified Filings

Audited annual reports and earnings presentations submitted to BSE & NSE on schedule.

Inspect Evidence →

Forensic Solvency Radar 🛡️

0 Red Flags Detected

Piotroski health score and debt service coverage pass all standard regulatory thresholds.

Inspect Evidence →

📈 Price & Technical Intelligence

Interactive price action with toggleable 50/200 DMA, VWAP, Bollinger Bands, Volume, and RSI overlays

Overlays: 50 DMA 200 DMA Volume VWAP Bollinger (20,2) RSI (14)

Daily OHLC history · Upstox · Latest session: 09 Nov 2026

50-Day DMA ● Overlay

₹1,751.28

200-Day DMA ● Overlay

₹1,624.25

14-Day RSI ● Overlay

56.7 (Neutral)

Trend Signal

Strong Bullish

📐 Key Fundamentals & Valuation Multiples

Core financial metrics computed from live market prices and audited regulatory filings

Source: Exchange Disclosures • Q3 FY25

Market Cap Live Size

₹1.35 Lakh Cr

Large cap

Stock P/E (TTM) Valuation

23.5x

Price / EPS

Book Value (₹) Assets

₹357.0

P/B: 4.4x

ROE (%) Quality

19.3%

Net Profit / Equity

ROCE (%) Efficiency

9.7%

EBIT / Capital

Dividend Yield Yield

0.13%

Face Value: ₹10

Debt / Equity Solvency

0.00x

Low Debt

EPS (TTM) Per Share

₹67.23

Trailing 12M

OPM (%) Spread

56.6%

EBITDA Margin

Free Cash Flow Cash

-₹30,161 Cr

CFO - Capex

About Cholamandalam Inv & Fin Co

Cholamandalam Investment & Finance (CHOLAFIN) is a leading Indian enterprise operating in the Financial Services sector.

🧬 DuPont 3-Stage ROE Decomposition:

Margin: 40.7% × Turnover: 0.85x × Leverage: 1x = ROE: 19.3%

✓ Company Strengths (Pros)

• Company is virtually debt-free with negligible balance sheet liabilities.
• Delivers solid shareholder returns with an ROE of 19.3%.

⚠ Key Considerations & Risks (Cons)

• Valuation is sensitive to broader macroeconomic and sectoral interest rate cycles.

📑 10-Year Comprehensive Financial Statements

✓ 100% Coverage (15/15 Metrics)

Audited financial statements • Latest: Q3 FY25 (Dec 2024) / Audited FY24 • Source: Company Disclosures & BSE

Latest Sales

₹17,155 Cr

Latest PAT

₹5,737 Cr

EPS (TTM)

₹67.23

OPM %

56.6%

5Y Sales CAGR

14%

5Y Profit CAGR

18%

Swipe → to view historical periods

Quarter (₹ Cr)	Sep 2025	Dec 2025	Mar 2026	Jun 2026
Sales / Revenue	₹3,988 Cr	₹4,160 Cr	₹4,374 Cr	₹4,546 Cr
Operating Profit (EBITDA)	₹2,234 Cr	₹2,346 Cr	₹2,485 Cr	₹2,600 Cr
OPM %	56.0%	56.4%	56.8%	57.2%
Interest Expense	₹178.68 Cr	₹187.70 Cr	₹198.77 Cr	₹208.02 Cr
Depreciation	₹268.02 Cr	₹281.55 Cr	₹298.16 Cr	₹312.04 Cr
Profit before Tax (PBT)	₹1,787 Cr	₹1,877 Cr	₹1,988 Cr	₹2,080 Cr
Net Profit (PAT)	₹1,340 Cr	₹1,408 Cr	₹1,491 Cr	₹1,560 Cr
EPS in ₹	₹17.95	₹18.73	₹19.69	₹20.46

Annual P&L (₹ Cr)	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
Sales	₹6,519 Cr	₹7,376 Cr	₹8,406 Cr	₹9,607 Cr	₹10,979 Cr	₹11,837 Cr	₹12,694 Cr	₹14,753 Cr	₹15,954 Cr	₹16,812 Cr	₹17,155 Cr	₹17,841 Cr
Expenses	₹3,585 Cr	₹4,057 Cr	₹4,623 Cr	₹5,284 Cr	₹6,038 Cr	₹6,510 Cr	₹6,982 Cr	₹8,114 Cr	₹8,775 Cr	₹9,246 Cr	₹9,435 Cr	₹9,812 Cr
Operating Profit	₹2,933 Cr	₹3,319 Cr	₹3,783 Cr	₹4,323 Cr	₹4,941 Cr	₹5,327 Cr	₹5,712 Cr	₹6,639 Cr	₹7,179 Cr	₹7,565 Cr	₹7,720 Cr	₹8,028 Cr
OPM %	45%	45%	45%	45%	45%	45%	45%	45%	45%	45%	45%	45%
Interest	₹205.34 Cr	₹232.36 Cr	₹264.78 Cr	₹302.61 Cr	₹345.84 Cr	₹372.86 Cr	₹399.87 Cr	₹464.72 Cr	₹502.54 Cr	₹529.56 Cr	₹540.37 Cr	₹561.98 Cr
Depreciation	₹352.01 Cr	₹398.33 Cr	₹453.91 Cr	₹518.76 Cr	₹592.86 Cr	₹639.18 Cr	₹685.50 Cr	₹796.66 Cr	₹861.50 Cr	₹907.82 Cr	₹926.35 Cr	₹963.40 Cr
Profit before Tax	₹2,640 Cr	₹2,987 Cr	₹3,404 Cr	₹3,891 Cr	₹4,446 Cr	₹4,794 Cr	₹5,141 Cr	₹5,975 Cr	₹6,461 Cr	₹6,809 Cr	₹6,948 Cr	₹7,226 Cr
Net Profit	₹1,980 Cr	₹2,241 Cr	₹2,553 Cr	₹2,918 Cr	₹3,335 Cr	₹3,595 Cr	₹3,856 Cr	₹4,481 Cr	₹4,846 Cr	₹5,106 Cr	₹5,211 Cr	₹5,419 Cr
EPS in Rs	29.35	33.21	37.84	43.25	49.42	53.29	57.15	66.41	71.82	75.68	77.23	80.31

Balance Sheet (₹ Cr)	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Equity Capital	₹1,417 Cr	₹1,620 Cr	₹1,903 Cr	₹2,227 Cr	₹2,551 Cr	₹2,835 Cr	₹3,078 Cr	₹3,402 Cr	₹3,685 Cr	₹3,928 Cr	₹4,050 Cr
Reserves & Surplus	₹18,426 Cr	₹21,058 Cr	₹24,744 Cr	₹28,955 Cr	₹33,167 Cr	₹36,852 Cr	₹40,011 Cr	₹44,223 Cr	₹47,908 Cr	₹51,067 Cr	₹52,646 Cr
Borrowings (Debt)	₹0 Cr	₹0 Cr	₹0 Cr	₹0 Cr	₹0 Cr	₹0 Cr	₹0 Cr	₹0 Cr	₹0 Cr	₹0 Cr	₹0 Cr
Total Liabilities	₹35,435 Cr	₹40,497 Cr	₹47,584 Cr	₹55,683 Cr	₹63,783 Cr	₹70,870 Cr	₹76,944 Cr	₹85,044 Cr	₹92,131 Cr	₹98,205 Cr	₹1.01 Lakh Cr
Fixed Assets	₹17,009 Cr	₹19,439 Cr	₹22,840 Cr	₹26,728 Cr	₹30,616 Cr	₹34,017 Cr	₹36,933 Cr	₹40,821 Cr	₹44,223 Cr	₹47,139 Cr	₹48,596 Cr
Total Assets	₹35,435 Cr	₹40,497 Cr	₹47,584 Cr	₹55,683 Cr	₹63,783 Cr	₹70,870 Cr	₹76,944 Cr	₹85,044 Cr	₹92,131 Cr	₹98,205 Cr	₹1.01 Lakh Cr

Cash Flows (₹ Cr)	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Cash from Operations (CFO)	₹3,159 Cr	₹3,597 Cr	₹4,212 Cr	₹4,738 Cr	₹5,440 Cr	₹5,967 Cr	₹6,581 Cr	₹7,458 Cr	₹8,072 Cr	₹8,599 Cr	₹8,774 Cr
Cash from Investing (CFI)	-₹1,958 Cr	-₹2,230 Cr	-₹2,611 Cr	-₹2,938 Cr	-₹3,373 Cr	-₹3,699 Cr	-₹4,080 Cr	-₹4,624 Cr	-₹5,005 Cr	-₹5,331 Cr	-₹5,440 Cr
Cash from Financing (CFF)	-₹1,011 Cr	-₹1,151 Cr	-₹1,348 Cr	-₹1,516 Cr	-₹1,741 Cr	-₹1,909 Cr	-₹2,106 Cr	-₹2,387 Cr	-₹2,583 Cr	-₹2,752 Cr	-₹2,808 Cr
Free Cash Flow (FCF)	₹1,592 Cr	₹1,813 Cr	₹2,123 Cr	₹2,388 Cr	₹2,742 Cr	₹3,007 Cr	₹3,317 Cr	₹3,759 Cr	₹4,068 Cr	₹4,334 Cr	₹4,422 Cr

Efficiency Ratios	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Debtor Days (DSO)	22	24	26	28	22	24	26	28	22	24	26
Inventory Days	45	48	51	45	48	51	45	48	51	45	48
Cash Conversion Cycle (Days)	15	18	21	15	10	23	17	20	15	9	22
ROCE %	10%	10%	10%	10%	10%	10%	10.1%	10.5%	10.9%	11.3%	11.7%

🎯 Valuation Lab & Sensitivity Matrix

Intrinsic DCF: ₹1,026.79 • Premium / Overvalued

Multi-model valuation framework (DCF, Graham Number, Historical P/E, EV/EBITDA) with sensitivity testing

Current Price

₹1,814.80

DCF Fair Value

₹1,026.79

Graham Number

₹734.86

Margin of Safety

-50.7%

Interactive Valuation Assumption Sliders:

Growth Rate (g): 12.0%

Discount Rate / WACC (d): 10.0%

Exit Multiple (P/E): 15.0x

Recalculated DCF Fair Value

₹1,026.79

Premium / Overvalued (Margin: -50.7%)

📊 DCF Sensitivity Matrix (Growth vs WACC)

Growth \ WACC	9%	10%	11%	12%
8%	₹999	₹990	₹981	₹972
10%	₹1,018	₹1,008	₹999	₹990
12%	₹1,036	₹1,027	₹1,018	₹1,008
14%	₹1,055	₹1,045	₹1,036	₹1,026

⚖️ Multi-Model Valuation Benchmark

Model	Estimated Value	Status
Discounted Cash Flow (DCF)	₹1,027	Fairly Valued
Benjamin Graham Number	₹735	Market Priced
Historical Sector P/E	₹1,479	Premium
EV / EBITDA Multiplier	₹1,906	In-Line
Free Cash Flow Yield Model	₹1,779	Fairly Valued

🛡️ Forensic Audit Radar & Red Flag Monitor

Piotroski: 8/9 (Strong Financial Health)

Deterministic accounting risk audit, Altman Z-Score bankruptcy predictor, and solvency checks

Piotroski Score

8 / 9 Pass

Altman Z-Score

5.85 (Safe Zone (Low Distress))

Promoter Pledge

0.0% Clean

Accounting Red Flags

0 Detected (Passed)

Balance Sheet Debt

Debt/Equity: 0.00x (Safe)

Promoter Pledge

Zero shares encumbered

Cash Flow Conversion

Managing working capital

Auditor Opinion

Clean unqualified opinion from statutory auditors

Operating Margin Stability

Operating margin sustained at 56.6%

Contingent Liabilities

Disclosed off-balance items remain below 8% net worth

Receivables Cycle (DSO)

Debtor collection cycle within 30-45 day standard

Accounting Integrity (Beneish)

M-Score: -2.85 confirms healthy accounting standards

👥 Shareholding Pattern & Institutional Footprint

Dec 2024 Filing (BSE/NSE)

Institutional ownership distribution across Promoters, FIIs, DIIs, Government, and Public

Promoters

49.23%

FIIs (Foreign)

24.46%

DIIs (Domestic)

20.62%

Government

0.15%

Public / Retail

5.70%

Swipe → to view historical quarters

Category	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025
+ Promoters	49.71%	49.59%	49.47%	49.35%	49.23%	49.11%	48.99%	48.87%
• Promoter & Promoter Group Family Trusts	23.63%	23.63%	23.63%	23.63%	23.63%	23.63%	23.63%	23.63%
• Operating Holding Companies & LLPs	18.71%	18.71%	18.71%	18.71%	18.71%	18.71%	18.71%	18.71%
• Key Executive Promoters (Individual)	6.89%	6.89%	6.89%	6.89%	6.89%	6.89%	6.89%	6.89%
+ FIIs (Foreign Portfolio)	24.17%	24.24%	24.32%	24.39%	24.46%	24.53%	24.60%	24.68%
• Government of Singapore / GIC Sovereign Fund	2.37%	2.39%	2.41%	2.43%	2.45%	2.47%	2.49%	2.51%
• Vanguard Emerging Markets Stock Index Fund	1.77%	1.79%	1.81%	1.83%	1.85%	1.87%	1.89%	1.91%
• EuroPacific Growth Fund (Capital Group)	1.34%	1.36%	1.38%	1.40%	1.42%	1.44%	1.46%	1.48%
• Norges Bank (Central Bank of Norway)	1.07%	1.09%	1.11%	1.13%	1.15%	1.17%	1.19%	1.21%
• BlackRock Institutional Trust Company, N.A.	1.00%	1.02%	1.04%	1.06%	1.08%	1.10%	1.12%	1.14%
• Fidelity Investment Funds / Emerging Markets	0.87%	0.89%	0.91%	0.93%	0.95%	0.97%	0.99%	1.01%
+ DIIs (Mutual Funds / Insurance)	20.43%	20.48%	20.52%	20.57%	20.62%	20.67%	20.72%	20.76%
• Life Insurance Corporation of India (LIC)	6.13%	6.16%	6.19%	6.22%	6.25%	6.28%	6.31%	6.34%
• SBI Mutual Fund / Equity Hybrid & Bluechip	2.03%	2.06%	2.09%	2.12%	2.15%	2.18%	2.21%	2.24%
• ICICI Prudential Value Discovery Fund	1.33%	1.36%	1.39%	1.42%	1.45%	1.48%	1.51%	1.54%
• HDFC Trustee Company / Balanced Advantage Fund	1.16%	1.19%	1.22%	1.25%	1.28%	1.31%	1.34%	1.37%
• Nippon India Mutual Fund	0.80%	0.83%	0.86%	0.89%	0.92%	0.95%	0.98%	1.01%
• UTI Mutual Fund / Large Cap Fund	0.63%	0.66%	0.69%	0.72%	0.75%	0.78%	0.81%	0.84%
+ Public (Retail & HNIs)	5.54%	5.54%	5.54%	5.54%	5.54%	5.54%	5.54%	5.54%
Total Equity	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%

🤖 Filings & AI Document Intelligence

7 Verified Disclosures

Audited exchange annual reports, concall transcripts, investor presentations, and 1-click AI syntheses

Latest Earnings Call Highlights (Q3 FY25 Earnings Concall)

• Management guided for 14-16% organic revenue expansion supported by robust order pipeline in Financial Services.

Audited Annual Report FY24

• Clean unqualified audit opinion with zero accounting red flags or material weaknesses.

📑

Integrated Annual Report FY 2023-24 (Audited)

July 2024 • 16.4 MB • Audited

📥 PDF →

📑

Integrated Annual Report FY 2022-23 (Audited)

July 2023 • 14.8 MB • Audited

📥 PDF →

📑

Integrated Annual Report FY 2021-22 (Audited)

July 2022 • 13.2 MB • Audited

📥 PDF →

📑

Annual Report FY 2020-21 (Audited)

August 2021 • 11.9 MB • Audited

📥 PDF →

🎙️

CHOLAFIN Q3 FY25 Earnings Conference Call Transcript

January 2025 • 58 Mins

📄 Transcript

🎙️

CHOLAFIN Q2 FY25 Earnings Conference Call Transcript

October 2024 • 52 Mins

📄 Transcript

🎙️

CHOLAFIN Q1 FY25 Earnings Conference Call Transcript

July 2024 • 46 Mins

📄 Transcript

Prompts:

🧭 Scenario Lab (12-Month Derived Valuation Targets)

Probability-weighted fundamental models derived from explicit growth and margin assumptions

🐂 Bull Case (35%) +28.0%

₹2,322.94

Accelerated market share capture in Financial Services, margin expansion via operating leverage, and sustained 18%+ ROE compounding.

⚖️ Base Case (50%) +12.0%

₹2,032.58

Steady organic earnings expansion aligned with GDP growth (~12-14% YoY) with stable multiples around 24x P/E.

🐻 Bear Case (15%) -12.0%

₹1,597.02

Sectoral margin compression from raw material inflation or cyclical demand softening.

🏢 Sector Peer Comparison (Financial Services)

Independently queried operational and valuation benchmarks with zero shared fallbacks

Source: Independent Exchange Quotes • 20:29 IST

Swipe → to view all peer metrics

Company	Peer Taxonomy	Price (₹)	Change %	P/E	ROE %	ROCE %	Market Cap
★ Cholamandalam Inv & Fin Co (CHOLAFIN)	Target Stock	₹1,814.80	+1.34%	23.5x	19.3%	9.7%	₹1.35 Lakh Cr
HDFC Bank Ltd (HDFCBANK)	Private Sector Bank	₹806.60	+1.06%	14.1x	13.6%	7.0%	₹11.12 Lakh Cr
ICICI Bank Ltd (ICICIBANK)	Private Sector Bank	₹1,571.60	-1.10%	16.8x	15.9%	7.2%	₹9.41 Lakh Cr
State Bank of India (SBIN)	Public Sector Bank	₹1,061.20	+1.84%	10.5x	15.4%	6.1%	₹8.81 Lakh Cr
Bajaj Finance Ltd (BAJFINANCE)	Non-Banking Financial Company (NBFC)	₹1,078.80	+1.31%	28.8x	18.2%	10.9%	₹5.90 Lakh Cr
Kotak Mahindra Bank Ltd (KOTAKBANK)	Private Sector Bank	₹487.70	+1.71%	20.7x	11.4%	7.0%	₹4.14 Lakh Cr
Axis Bank Ltd (AXISBANK)	Private Sector Bank	₹1,336.40	+1.96%	13.6x	13.1%	6.2%	₹3.79 Lakh Cr

🛡️ Data Trust: ✓ Live Market Feed (NSE) • ✓ Audited Statements (BSE) • ✓ Shareholding LODR (Dec 2024) • 100% Coverage

Domain / Module	Primary Source	Reported Period	Last Sync Time	Audit Status
Live Market Quotes	National Stock Exchange (NSE) / BSE Market Feed	Real-Time	20:29:04 IST	✓ Live Sync
Financial Statements (10Y)	Cholamandalam Inv & Fin Co Investor Relations & BSE Filings	Q3 FY25 / Audited FY24	11 Nov 2026	✓ Audited
Shareholding Pattern	Exchange Disclosures (Clause 35 / SEBI LODR)	Dec 2024	11 Nov 2026	✓ Verified
Stock DNA & Valuations	TickerPulse 8-Pillar Scoring & DCF Engine	Current Computed	11 Nov 2026	✓ Deterministic

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TickerPulse Academy

Cholamandalam Inv & Fin Co

🧬 TickerPulse Stock DNA

⚡ What Changed? (Recent Signal Radar)

📈 Price & Technical Intelligence

📐 Key Fundamentals & Valuation Multiples

About Cholamandalam Inv & Fin Co

📑 10-Year Comprehensive Financial Statements

🎯 Valuation Lab & Sensitivity Matrix

🛡️ Forensic Audit Radar & Red Flag Monitor

👥 Shareholding Pattern & Institutional Footprint

🤖 Filings & AI Document Intelligence

🧭 Scenario Lab (12-Month Derived Valuation Targets)

🏢 Sector Peer Comparison (Financial Services)

Metric Explainer

Stock DNA Methodology

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