Cholamandalam Investment and Finance Company Limited (CIFCL) disbursements reached ₹35,872 Cr in H1 FY27 compared to ₹24,442 Cr in H1 FY26, representing 47% growth
CIFCL Assets Under Management stood at ₹268,009 Cr as of September 30, 2026 compared to ₹242,630 Cr as of March 31, 2026
CIFCL branch network expanded to 1,958 branches as of September 30, 2026 from 1,761 branches as of March 31, 2026
Chola MS General Insurance Company Limited sold 37 lakh policies in H1 FY27
Segment-wise Performance
Vehicle Finance Business
Disbursements grew by 43% in Q2 FY27 to ₹2,426 Cr compared to Q2 FY26
Disbursements grew by 22% in H1 FY27 to ₹4,223 Cr compared to H1 FY26
AUM grew by 24% YoY
PBT grew by 24% in Q2 FY27 to ₹271 Cr compared to Q2 FY26
PBT grew by 35% to ₹540 Cr in H1 FY27 compared to H1 FY26
Loan losses at 1.0% in Q2 FY27 compared to 0.5% in Q2 FY26
Loan losses at 0.8% in H1 FY27 compared to 0.6% in H1 FY26
Home Loans Business
Disbursements grew by 43% in Q2 FY27 to ₹2,426 Cr compared to Q2 FY26
Disbursements grew by 22% in H1 FY27 to ₹4,223 Cr compared to H1 FY26
AUM grew by 24% YoY
PBT grew by 24% in Q2 FY27 to ₹271 Cr compared to Q2 FY26
PBT grew by 35% to ₹540 Cr in H1 FY27 compared to H1 FY26
Loan losses at 1.0% in Q2 FY27 compared to 0.5% in Q2 FY26
Loan losses at 0.8% in H1 FY27 compared to 0.6% in H1 FY26
General Insurance Business (Chola MS)
Gross Written Premium grew 7.1% to ₹4,517 Cr in H1 FY27 from ₹4,217 Cr in H1 FY26
GDPI stood at ₹3,705 Cr in H1 FY27 compared to ₹3,647 Cr in H1 FY26
Net Earned Premium was ₹3,314 Cr in H1 FY27 compared to ₹3,190 Cr in H1 FY26
Underwriting Results showed loss of ₹-658 Cr in H1 FY27 compared to ₹-435 Cr in H1 FY26
Investment income (Net) was ₹764 Cr in H1 FY27 compared to ₹712 Cr in H1 FY26
PBT was ₹98 Cr in H1 FY27 compared to ₹266 Cr in H1 FY26
PAT was ₹78 Cr in H1 FY27 compared to ₹198 Cr in H1 FY26
Solvency Ratio stood at 1.880x in H1 FY27 compared to 2.112x in H1 FY26
Return on Average Networth was 2.3% in H1 FY27 (not annualized) compared to 6.4% in H1 FY26
Net worth (Ex fair value change surplus) was ₹3,408 Cr in H1 FY27 compared to ₹3,197 Cr in H1 FY26
Financial Highlights
Consolidated Performance (including Chola Sec, Chola Home Finance, Paytail and Payswiff)
Q2 FY27 Income: ₹9,395 Cr (23% growth YoY from ₹7,614 Cr in Q2 FY26)
H1 FY27 Income: ₹18,351 Cr (23% growth YoY from ₹14,967 Cr in H1 FY26)
Q2 FY27 Expenses: ₹7,207 Cr (19% growth YoY from ₹6,050 Cr in Q2 FY26)
H1 FY27 Expenses: ₹13,942 Cr (17% growth YoY from ₹11,872 Cr in H1 FY26)
Q2 FY27 PBT: ₹2,187 Cr (40% growth YoY from ₹1,564 Cr in Q2 FY26)
H1 FY27 PBT: ₹4,409 Cr (42% growth YoY from ₹3,096 Cr in H1 FY26)
Q2 FY27 PAT: ₹1,628 Cr (41% growth YoY from ₹1,158 Cr in Q2 FY26)
H1 FY27 PAT: ₹3,284 Cr (43% growth YoY from ₹2,296 Cr in H1 FY26)
Standalone CFHL Performance
H2 FY27 Income: ₹35.36 Cr compared to ₹33.72 Cr in H2 FY26
H2 FY27 Expenses: ₹1.67 Cr compared to ₹1.60 Cr in H2 FY26
H2 FY27 Profit Before Tax: ₹33.69 Cr compared to ₹32.12 Cr in H2 FY26
H2 FY27 Tax Expense: ₹1.42 Cr compared to ₹2.85 Cr in H2 FY26
H2 FY27 Profit After Tax: ₹32.27 Cr compared to ₹29.27 Cr in H2 FY26
As of September 30, 2026 Total Liabilities and Equity: ₹1,418.76 Cr compared to ₹1,404.21 Cr as of March 31, 2026
As of September 30, 2026 Networth: ₹1,414.55 Cr compared to ₹1,399.68 Cr as of March 31, 2026
As of September 30, 2026 Investments and Bank deposits: ₹1,417.08 Cr compared to ₹1,404.03 Cr as of March 31, 2026
Regulatory Ratios of CFHL
As at September 30, 2026 Owned Funds: ₹1,383.61 Cr
As at September 30, 2026 Adjusted Networth: ₹32,403.07 Cr
As at September 30, 2026 Risk Weighed Assets: ₹1,306.67 Cr
As at September 30, 2026 Capital Ratio (B/C): 2479.82% vs Regulatory minimum of 30.00%
As at September 30, 2026 Leverage Ratio (D/B): 0.0001 vs Regulatory maximum of 2.50
As at September 30, 2026 Investment in group companies (F/E): 99.699% vs Regulatory minimum of 90.000%
Funding Profile
Borrowing mix includes diversified instruments and investor types
ALM Statement as of September 30, 2026 shows cumulative gap percentages ranging from 25.59% (1 month) to 0.00% (>5 years)
Credit Ratings: LT NCD/CC rated IND AA+/Stable, CARE AA+/Stable, ICRA AA+/Positive; ST CP/WCDL rated ICARE A1+, ICRA A1+, CRISIL A1+
Chola MS General Insurance Detailed Performance
Line of Business Performance
Motor Business GDPI: ₹2,629 Cr in H1 FY27 (4% growth from ₹2,526 Cr in H1 FY26)
Two Wheeler: ₹232 Cr in H1 FY27 (-21% from ₹294 Cr in H1 FY26)
Private Car: ₹1,300 Cr in H1 FY27 (0% growth from ₹1,305 Cr in H1 FY26)
Commercial Vehicle: ₹1,096 Cr in H1 FY27 (18% growth from ₹927 Cr in H1 FY26)
Commercial Lines GDPI: ₹595 Cr in H1 FY27 (6% growth from ₹562 Cr in H1 FY26)
Fire: ₹390 Cr in H1 FY27 (-2% from ₹398 Cr in H1 FY26)
Marine: ₹137 Cr in H1 FY27 (39% growth from ₹99 Cr in H1 FY26)
Engineering: ₹26 Cr in H1 FY27 (12% growth from ₹23 Cr in H1 FY26)
Liability: ₹20 Cr in H1 FY27 (15% growth from ₹18 Cr in H1 FY26)
Health, Accident and Travel GDPI: ₹480 Cr in H1 FY27 (-14% from ₹559 Cr in H1 FY26)
Health Retail: ₹159 Cr in H1 FY27 (-10% from ₹177 Cr in H1 FY26)
Health Group: ₹180 Cr in H1 FY27 (-38% from ₹288 Cr in H1 FY26)
Accident: ₹141 Cr in H1 FY27 (50% growth from ₹93 Cr in H1 FY26)
Loss Ratios
Motor OD: 91.8% in H1 FY27 (89.9% excluding NatCat) vs 83.2% in H1 FY26
Motor TP: 84.2% in H1 FY27 vs 79.3% in H1 FY26
Motor Total: 86.7% in H1 FY27 (86.1% excluding NatCat) vs 80.6% in H1 FY26
Health, Travel & Accident: 93.7% in H1 FY27 vs 85.8% in H1 FY26
Commercial: 103.5% in H1 FY27 (80.5% excluding NatCat) vs 86.7% in H1 FY26
Total: 88.6% in H1 FY27 (87.3% excluding NatCat) vs 81.5% in H1 FY26
Investment Portfolio
As of September 2026: ₹19,052 Cr total investment portfolio
Govt Securities: ₹8,240 Cr
PSU/Corporate Bonds: ₹9,006 Cr
Equity: ₹1,498 Cr (7.9% of corpus)
Others: ₹504 Cr
Yield with profit on sale: 7.3%
Yield without profit on sale: 7.0%
Investment book/Net worth: 5.6x
Duration of Portfolio: 4.7 years
No stressed assets; Exposure to Securities rated less than AA: NIL
Exposure to AIFs: ₹261.2 Cr
Strategic Initiatives
Technology transformation complete across Motor Line of Business
Centralized Data Platform operational with 18 years data ingested
Integrated Dashboards for Business and Technical functions implemented
Health Claims Fraud Analytics Model deployed
Renewal and Upsell Model implementation in progress
Automated Commission payments underway
Key Risks
Natural Catastrophe events (Floods in MH, Gujarat, Daman & Diu) impacted PBT by ₹71.2 Cr in H1 FY27 (Q2 @ ₹58.3 Cr)
Motor OD loss ratios have increased across the industry and remain elevated for Chola MS
