Mr. Jaikishan Parmar - Sr. Equity Research Analyst, Angel Broking Ltd
Cholamandalam Inv. & Finance (CIFC) reported the above estimate numbers for Q2FY21. AUM grew at 13% YoY / 6% QoQ, NII increased 36% YoY. NIM improved 120bps/60bps YoY/QoQ led by Growth in higher yield asset and Lower cost of fund. PAT reported growth of 40% led by healthy NII growth and controlled Opex however, partially offset by higher credit cost. On the asset quality front, The GNPL ratio improved by 60bp QoQ to 2.8%. 95% of morat. customers have paid at least one installment. Disbursal and AUM growth is much better than listed peers, The company has been gaining market share, especially in Tractor. We have BUY recommendation on CIFC owing to stable asset quality, focussed management, diversified AUM, and the ability to raise funds at competitive rates.
Shares of Cholamandalam Investment and Finance Company Ltd was last trading in BSE at Rs.273.1 as compared to the previous close of Rs. 250.1. The total number of shares traded during the day was 1194918 in over 30472 trades.
The stock hit an intraday high of Rs. 280.3 and intraday low of 248.6. The net turnover during the day was Rs. 321997153.