External broker reports(aggregated public sources), Sharekhan

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External broker reports(aggregated public sources)

Equity Bottom-Up

Cholamandalam Investment and Finance / Equity Bottom-Up

Cholamandalam Investment and Finance (CIFC IN)

<ul><li>CIFC reported net earnings of Rs. 963 crore, 3.5% (up 26.3%/2.2%, y-o-y/q-o-q) below estimates due to higher credit cost.</li><li>Core PBT grew by 27.5% y-o-y/3.5% q-o-q, driven by AUM/NII growth.</li><li>NIM, at 6.59% up 10 bps y-o-y, was in line with estimates. AUM growth stood at 32.5% y-o-y/5.9% q-o-q, driven by growth in disbursement (13%); within this LAP, home loans and CSEL segments performed well, while vehicle finance witnessed weak demand due to extended/heavy rainfall.</li></ul><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

CIFC reported net earnings of Rs. 963 crore, 3.5% (up 26.3%/2.2%, y-o-y/q-o-q) below estimates due to higher credit cost.Core PBT grew by 27.5% y-o-y/3.5% q-o-q, driven by AUM/NII growth.NIM, at 6.59% up 10 bps y-o-y, was in line with estimates. AUM growth stood at 32.5% y-o-y/5.9% q-o-q, driven by growth in disbursement (13%); within this LAP, home loans and CSEL segments performed well, while vehicle finance witnessed weak demand due to extended/heavy rainfall.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Cholamandalam Investment and Finance Company - Good Q2, Except for Higher Credit Cost