Cholamandalam Investment and Finance Company Limited

Cholamandalam Investment and Finance Company Limited are a non-banking finance company, incorporated in 1978 as the financial services arm of the Murugappa group, which has more than 123 years of existence. The Company is categorized as a NBFC-ICC. They commenced business as an equipment financing company and have since expanded the operations to offer vehicle finance, loan against property, home loans, loans to small and medium-sized enterprises (“SMEs”), consumer and small enterprise loans and secured business and personal loans. They also offer stock broking and a variety of other financial services to customers through the Subsidiaries. As of September 30, 2023, they had 30.94 lakhs active customers across India. They are diversified in terms of the products they offer, the geographies within India where they operate and cater to all customers. As of September 30, 2023, they had 1, 267 branches and 571 resident locations across 29 States and Union Territories in India. They have been able to leverage the knowledge and experience in the vehicle finance industry coupled with the relationships with OEMs and dealers to grow the operations and expand the operating network. The focus on technology and use of data analytics has allowed to drive and digitize the operations, improve efficiency, reduce manpower and turnaround time. They believe that the track record of financial performance across the businesses, prudent risk management practices and strong credit ratings are key factors that have resulted in the growth over the years. In addition, being a part of the Murugappa group they have been able to derive significant synergies by leveraging their brand and existing customer base. The ratings to the NCD Instruments (IND AA+/Stable by India Ratings & Research Private Limited and ICRA AA+ (Stable) by ICRA Limited) considered to have adequate degree of safety regarding timely servicing of financial obligations. Such instruments carry low credit risk. So good brand name of company, good rating and above FD coupon rates make this offer a worthy option for investors looking for long term fixed income. We give SUBSCRIBE rating to debt issue.

• 1 Cholamandalam Financial Holdings Limited
• 2 Tube Investments of India Limited
• 3 New Ambadi Estates Private Limited
• 4 Coromandel International Limited
• 5 Ambadi Enterprises Limited
• 6 Carborundum Universal Limited
• 7 E I D Parry (India) Limited
• 8 Ambadi Investments Limited
• 9 Kadamane Estates
• 10 Murugappa & Sons
• 11 M V Subbiah HUF
• 12 A M M Arunachalam HUF
• 13 M A Alagappan HUF
• 14 A Vellayan HUF
• 15 M M Muthiah HUF
• 16 M M Murugappan HUF
• 17 M A M Arunachalam HUF
• 18 M V Murugappan HUF
• 19 M M Venkatachalam HUF
• 20 A Venkatachalam HUF
• 21 M A M Arunachalam
• 22 Arun Alagappan
• 23 M A Alagappan
• 24 A Vellayan
• 25 M M Murugappan
• 26 A Venkatachalam
• 27 S Vellayan
• 28 V Narayanan
• 29 V Arunachalam
• 30 Arun Venkatachalam
• 31 M M Venkatachalam
• 32 M V Subbiah
• 33 M M Veerappan
• 34 M M Muthiah
• 35 M V Muthiah
• 36 M V Subramanian