Investments in Cholamandalam see 58% growth in fourth quarter payouts

Cholamandalam Investment and Finance Co.Ltd. has reported a 58% growth in payouts to ₹12,718 million for the fourth quarter ended March.

The financial services arm of Murugappa Group grew 36% in FY22 to £35.489 billion versus £26.043 billion, a regulatory filing said.

Vehicle finance payout business grew 43% to £8,785 billion in the fourth quarter and 26% to £25,439 billion in FY22. Loans against property payouts rose 57% to £1,870 billion in the fourth quarter and 53% to £5,536 billion in FY22.

Disbursements for home loans were ₹549 billion in the fourth quarter and ₹1,896 billion for the full year, representing year-on-year growth of 2% and 23%, respectively. Also, last year’s newly formed companies made combined withdrawals of £1,514bn for the fourth quarter and £2,618bn for FY22.

Billing capture efficiency improved across all product segments, standing at 138% versus 120% in the fourth quarter. This will lead to a strengthening of the company’s asset quality position, it said.

CIFCL continues to hold a strong liquidity position of ₹5,575 crore in cash on hand, with a total liquidity position of ₹7,400 crore (including undrawn sanctioned lines). The asset-liability maturity is comfortable, with no negative cumulative mismatches across all maturity bands, it said.

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