Cholamandalam Financial Holdings FY26 PAT Up 16% to ₹5,485 Cr; CFO Transition Announced
Cholamandalam Financial Holdings reported FY26 consolidated PAT of ₹5,485 Cr, up 16% YoY, on total income of ₹39,576 Cr, up 18%. Key subsidiary CIFCL posted 23% PAT growth for the full year with AUM rising 21% to ₹2,42,630 Cr. The Board recommended a final dividend of ₹1.30 per share and announced the appointment of Mr. Shyam Shankar as CFO and Manager effective June 15, 2026, succeeding Mr. N Ganesh.
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Cholamandalam Financial Holdings (CFHL) has reported its audited financial results for the quarter and year ended March 31, 2026. The Board of Directors approved the results at their meeting held on May 8, 2026. On a consolidated basis, total income for the year ended March 31, 2026 stood at ₹39,576 Cr, compared to ₹33,460 Cr in the corresponding period of the previous year, registering a growth of 18%. Consolidated profit after tax (PAT) for the full year rose 16% to ₹5,485 Cr from ₹4,740 Cr in the prior year. The statutory auditors, M/s. R.G.N. Price & Co., Chartered Accountants, have issued an unmodified opinion on both the standalone and consolidated financial results.
Consolidated Financial Performance
For the quarter ended March 31, 2026, consolidated total income was ₹10,520 Cr as against ₹9,009 Cr in the corresponding quarter of the previous year, a growth of 17%. Consolidated PAT for the quarter was ₹1,626 Cr compared to ₹1,362 Cr in the same quarter of the previous year, registering a growth of 19%. The following table summarises the key consolidated financial metrics on a year-on-year basis:
| Metric: | Q4 FY26 | Q4 FY25 | YoY Growth |
|---|---|---|---|
| Consolidated Total Income: | ₹10,520 Cr | ₹9,009 Cr | 17% |
| Consolidated PAT: | ₹1,626 Cr | ₹1,362 Cr | 19% |
| Consolidated Total Income (Full Year): | ₹39,576 Cr | ₹33,460 Cr | 18% |
| Consolidated PAT (Full Year): | ₹5,485 Cr | ₹4,740 Cr | 16% |
Standalone Financial Performance
On a standalone basis, total income for the quarter ended March 31, 2026 was ₹52.38 Cr as against ₹51.53 Cr in the corresponding quarter of the previous year. Standalone PAT for the quarter was ₹38.48 Cr compared to ₹37.60 Cr in the same quarter of the previous year. For the full year, standalone total income was ₹89.79 Cr against ₹86.20 Cr, and standalone PAT was ₹70.41 Cr against ₹64.40 Cr in the prior year.
Subsidiary and Joint Venture Performance
Cholamandalam Investment & Finance Company Ltd (CIFCL), in which CFHL holds approximately 43.76% stake, disbursed ₹32,913 Cr in Q4 FY26 as against ₹26,417 Cr in Q4 FY25, a growth of 25%. CIFCL's PAT for the quarter was ₹1,641 Cr compared to ₹1,267 Cr in the corresponding quarter of the previous year, a growth of 30%. For the full year, CIFCL's PAT was ₹5,220 Cr compared to ₹4,259 Cr in the prior year, a growth of 23%. Assets under management grew 21% to ₹2,42,630 Cr as at March 31, 2026 from ₹1,99,876 Cr as at March 31, 2025.
Segment-wise, CIFCL's Vehicle Finance disbursements grew by 26% in Q4 FY26 to ₹18,132 Cr. Assets under management for this segment grew by 18% YoY. Loan losses were at 1.6% in Q4 FY26 compared to 1.2% in Q4 FY25. Profit before tax for Vehicle Finance grew by 18% in Q4 FY26 to ₹1,067 Cr. The Loan Against Property segment saw disbursements grow by 5% in Q4 FY26 to ₹5,838 Cr, with AUM growing by 26% YoY. Profit before tax for this segment rose by 45% in Q4 FY26 to ₹522 Cr. The Home Loans segment reported disbursements of ₹1,895 Cr in Q4 FY26, with AUM growing by 23% YoY and profit before tax increasing by 21% to ₹239 Cr.
Cholamandalam MS General Insurance Company Ltd (CMSGICL), a subsidiary in which CFHL holds approximately 60% stake, registered a Gross Written Premium (GWP) of ₹2,398 Cr in Q4 FY26 against ₹2,224 Cr in the corresponding period of the previous year, a growth of 8%. For the full year, GWP was ₹9,110 Cr against ₹8,564 Cr in the previous year, a growth of 6%. PAT (under Ind AS) for the year ended March 31, 2026 was ₹253 Cr as against ₹484 Cr in the corresponding period of the previous year. CMSGICL has an investment book of ₹19,013 Cr as of March 31, 2026. For the quarter ended March 31, 2026, CMSGICL incurred a loss of ₹5 Cr as against a profit of ₹118 Cr in the corresponding quarter of the previous year, on account of fair value change in equity.
Cholamandalam MS Risk Services Ltd, a joint venture in which CFHL holds 49.5% stake, registered total income of ₹28.98 Cr for the quarter ended March 31, 2026 against ₹24.79 Cr in the corresponding quarter of the previous year. PAT for the quarter was ₹3.55 Cr compared to ₹3.63 Cr in the same period of the previous year. For the full year, total income was ₹98.78 Cr against ₹83.20 Cr, and PAT was ₹7.73 Cr against ₹7.07 Cr.
Key Management Personnel Changes
The Board also announced a transition in key managerial personnel. Mr. N Ganesh has tendered his resignation from the position of Chief Financial Officer of the Company, effective close of business hours on June 14, 2026. Mr. Ganesh, who also served as the Manager of the Company, completes his third term of three years in that capacity on the same date, having been re-appointed effective June 15, 2023, and having served a total of nine years as Manager. He has stated that his decision is purely professional in nature and that there is no other material reason associated with the same.
Based on the recommendation of the Nomination and Remuneration Committee, Mr. Shyam Shankar has been appointed as both the Chief Financial Officer and Manager of the Company, effective June 15, 2026. His appointment as Manager is for a period of five years, subject to shareholders' approval. Mr. Shyam Shankar is a qualified Chartered Accountant and Cost Accountant with over 20 years of experience in senior finance roles within regulated financial services environments, bringing expertise in financial reporting oversight, audit governance, internal financial controls, and investor communication.
| Parameter: | Mr. N Ganesh | Mr. Shyam Shankar |
|---|---|---|
| Role: | CFO & Manager | CFO & Manager |
| Effective Date: | Cessation: June 14, 2026 | Appointment: June 15, 2026 |
| Reason: | Resignation (CFO); Retirement (Manager) | Appointment by NRC recommendation |
| Manager Tenure: | Nine years (third term of 3 years from June 15, 2023) | Five years (subject to shareholders' approval) |
Dividend and AGM
The Board of Directors has recommended a final dividend of 130%, being ₹1.30 per equity share of face value of ₹1/- each, for the year ended March 31, 2026, subject to shareholders' approval at the ensuing Annual General Meeting (AGM). The record date for the purpose of the AGM and payment of dividend has been fixed as Friday, August 7, 2026. The 77th AGM is scheduled to be held on Friday, August 14, 2026. The dividend will be paid to shareholders within 30 days from the date of the AGM.
Historical Stock Returns for Cholamandalam Financial Holdings
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| +1.46% | +14.43% | +27.50% | -5.49% | -4.61% | +209.58% |
How might the rising loan loss ratio in CIFCL's Vehicle Finance segment (1.6% in Q4 FY26 vs 1.2% in Q4 FY25) impact the company's credit provisioning strategy and profitability in FY27?
What could be the strategic implications of CMSGICL's sharp PAT decline from ₹484 Cr to ₹253 Cr for the full year, and how might the company restructure its equity investment portfolio to reduce fair value volatility?
With CIFCL's AUM crossing ₹2.42 lakh crore and growing at 21%, what capital raising plans or regulatory capital adequacy considerations could emerge to sustain this growth trajectory?
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