Cholamandalam Investment and Finance Company

{{short description|Indian non-banking financial company}}

{{Use dmy dates|date=July 2020}}

{{Use Indian English|date=July 2020}}

{{Infobox company

| logo = Cholamandalam logo.png

| name = Cholamandalam Investment and Finance Company

| type = Public

| traded_as = {{ubl|{{NSE|CHOLAFIN}}|{{BSE|511243}}}}

| industry = Financial services

| foundation = {{start date and age|df=y|1978|p=yes|}}

| founder =

| location_city = Chennai, Tamil Nadu

| location_country = India

| area_served =

| key_people = {{ubl|Ravindra Kumar Kundu (Executive Director)|Vellayan Subbiah (Chairman & Non-Executive Director)}}

| num_employees = 13,248 (2023){{cite web |title=Business Responsibility & Sustainability Report |url=https://files.cholamandalam.com/SE_Letter_BRSR_2023_ec09cbdba3.pdf |publisher=Cholamandalam |access-date=1 June 2024}}

| revenue = {{up}} {{INRConvert|19216|c}} (FY24)

| operating_income = {{up}} {{INRConvert|4582|c}} (FY24)

| net_income = {{up}} {{INRConvert|3423|c}} (FY24){{cite web |title=Corporate Presentation - March 2024 |url=https://www.bseindia.com/xml-data/corpfiling/AttachHis/018fbde8-f542-4560-bebe-03d0585c0696.pdf |website=BSE |publisher=Cholamandalam Investment and Finance Company Limited |access-date=1 June 2024}}

| aum = {{up}} {{INRConvert|153718|c}} (FY24)

| subsid = Cholamandalam Home Finance Limited (CHFL)
Cholamandalam Securities Limited (CSEC)

| parent = Murugappa Group

| products = Vehicle Finance, Home Loans, Mortgage Loans, Wealth Management

| homepage = {{URL|www.cholamandalam.com}}

}}

Cholamandalam Investment and Finance Company Limited (CIFCL) is an Indian non-banking financial company and investment service provider, headquartered in Chennai.[https://www.bloomberg.com/research/stocks/private/snapshot.asp?privcapId=4493047 "Company Overview of Cholamandalam Investment and Finance Company Limited"]{{cite news |title=Chola to maintain 22-25% AUM growth in FY24 |url=https://www.thehindu.com/business/chola-to-maintain-22-25-aum-growth-in-fy24/article66838920.ece |access-date=1 June 2024 |work=The Hindu |date=11 May 2023 |archive-url=https://web.archive.org/web/20230523151502/https://www.thehindu.com/business/chola-to-maintain-22-25-aum-growth-in-fy24/article66838920.ece |archive-date=23 May 2023 |language=en-IN}} Established in 1978, it is a part of the Murugappa Group.

As of 2024, the company has 1,387 branches across the country and more than 54,000 employees, with the majority being in smaller towns.{{Cite web|url=https://www.thehindubusinessline.com/money-and-banking/cholamandalam-charts-out-future-growth-path/article28286418.ece|title=Cholamandalam charts out future growth path|last=Balachandar|first=G.|website=Business Line|date=4 July 2019 |language=en|access-date=2019-09-02}}{{Cite web|url=https://www.businesstoday.in/current/corporate/cholamandalam-investment-chola-group-profits-q4-results-quarter-4-march-quarter-fy-19-companies-results/story/341058.html|title=Cholamandalam Investment clocks net profit at Rs 291.86 crore in fourth quarter of 2018-19|website=www.businesstoday.in|date=27 April 2019 |access-date=2019-09-02}}

History

In 2005, DBS Bank acquired a 37.5% stake in Cholamandalam Investment and Finance Company, with the Murugappa Group lowering its stake to 37.5%. The company was subsequently renamed as Cholamandalam DBS Finance.{{cite news |title=DBS to pay Rs 228 cr for 37.5% in Chola Inv |url=https://www.business-standard.com/article/finance/dbs-to-pay-rs-228-cr-for-37-5-in-chola-inv-105061701006_1.html |access-date=21 October 2024 |work=Business Standard |date=17 June 2005}} In 2010, DBS Bank sold its entire stake back to Murugappa Group and exited the joint venture.{{cite news |title=DBS Bank sells stake in Cholamandalam DBS Fin to Murugappa Group |url=https://economictimes.indiatimes.com/markets/stocks/news/dbs-bank-sells-stake-in-cholamandalam-dbs-fin-to-murugappa-group/articleshow/5779638.cms |access-date=21 October 2024 |work=The Economic Times |date=9 April 2010}}

References