Review

CHOLAMANDALAM FINANCIAL HOLDINGS LTD

Ticker : 504973
FV : ₹1
52-Week H/L : ₹763.05/553.25

We recommended Cholamandalam Financial Holdings Limited in volume no. 38, issue no. 15 (dated January 27, 2022) when the scrip was trading at Rs 698.4. On a quarterly consolidated financial front, the income from interest was reported at Rs 0.29 crore for Q3FY22, which is a decrease of 6.45 per cent as com- pared to Rs 0.31 crore reported for Q3FY21. The total income calculated for Q3FY22 slipped 3.4 per cent to Rs 2.27 crore from Rs 2.35 crore in Q3FY21. For Q3FY22, the net loss lowered to Rs 1.28 crore as compared to a net loss of Rs 3.48 crore reported in Q3FY21. The last quarter of FY22 has ended amid the unprec- edented global volatility of the Russia-Ukraine crisis as well as concern regarding yanking up of interest rates by US Federal Reserve. Indian companies are gearing up to declare their earnings for Q4FY22 over the next few weeks. The banks and the financial services sector are expected to be the key drivers for January to March corporate profits. Hence, we recommend HOLD.