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CHOLAMANDALAM INVESTMENT & FINANCE COMPANY LTD.

NSE : CHOLAFINBSE : 511243ISIN CODE : INE121A01024Industry : Finance - NBFCHouse : Murugappa Chettiar
BSE415.40-6.35 (-1.51 %)
PREV CLOSE ( ) 421.75
OPEN PRICE ( ) 421.50
BID PRICE (QTY) 415.20 (20)
OFFER PRICE (QTY) 415.60 (101)
VOLUME 112391
TODAY'S LOW / HIGH ( )410.60 430.45
52 WK LOW / HIGH ( )117.4 464.9
NSE417.55-3.05 (-0.73 %)
PREV CLOSE( ) 420.60
OPEN PRICE ( ) 422.45
BID PRICE (QTY) 417.40 (15)
OFFER PRICE (QTY) 417.60 (2614)
VOLUME 3653733
TODAY'S LOW / HIGH( ) 410.50 430.75
52 WK LOW / HIGH ( )117.4 464.85
AnalystEmailIdketan.mehrotra@narnolia.com
AnalystNameKetan Mehrotra
BSECode511243
CP1DesignationMD
CP1NameMr. Arun Alagappan
CP2DesignationExe VP & CFO
CP2NameMr. Arul Selvan
CP3DesignationSr. VP & Buss. Head
CP3NameMr. Rupinder Singh
CallDate30 Oct 2020
DescriptionAs of September management feels there no need to enhance any further provision. In Q3FY20 company expects to reach Pre-Covid field collection numbers. Market is confident of maintaining the market share in CV segment and in other segment market share isslightly higher than last year. Margin improvement is on account change in the product mix as company is moving into the higher yielding products, also on account of the moratorium the book was not running down though the disbursements have been lower. There was no off balance sheet item that helped on the margin front Collection efficiency is Q2FY21 was around 87% v/s 105-108 in Q2FY20 but is expected to get back to around 108% in October. The cumulative collection efficiency as on September was around 60%. Collection efficiency in the LAP is better than Vehicle finance. Government scheme has helped company to have good disbursement in Home equity segments. Rs 390 Cr have been disbursed under the government scheme. The OPEX is expected to go up as the volumes picks up. The cost to asset ratio going forward could be around 2.1%-2.4% going forward. Majority of the company branches are in Tier 2, Tier 3, Tier 4 towns and that’s where the most of the business happens. Out of total 1100 branches LAP has reached 250 branches and Home loan is also closer to 200 branches, going forward the penetration of the segments in the rural markets will increase. NRRB(normalization plus roll back together) for company is coming to the February levels. In July and August the levels of NRRB was higher. IN bucket 1 and 2 NRRB for month of February was 11% and in July and August it went to 25% and in September it has gone to 6%. Roll forward in 1- 2 bucket in September was 7%. Disbursement during the Q2FY21 was evenly spread in the 3 months. During H2FY21 the disbursements will be higher than H2FY21.
SubjectQ2FY21 EARNING CONFERENCE CALL

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