ALFA Finder
The call ran from 3:59 PM to 4:30 PM IST (31 min).
Key takeaways
Weak Q2 FY27: H1 combined ratio 124.2% (122.7% ex-NatCat), PAT about ₹78 Cr. Premium growth of 7.1% trails industry at 8.9%, and October growth slowed to about 4%.
| Revenue growth | Q2 GWP ₹2,386 Cr, +7.4% YoY; H1 ₹4,517 Cr, +7.1%. |
|---|---|
| Margins | H1 combined ratio 124.2%, ex-NatCat 122.7%; no peer comparison. |
| Demand visibility | Industry GI grew 8.9% H1; motor 13%; October growth slowed to ~4%. |
| Management confidence | Balanced; candid on tough quarter, but 'confident' on sourcing recovery. |
Growth
Q2 gross premium ₹2,386 Cr (+7.4%); H1 ₹4,517 Cr (+7.1%). Motor grew only 4.1% in H1, with growth driven by commercial and PA.
Outlook
Motor OD loss ratio to improve about 5% from current levels. Management affirmed 78-80% motor OD loss ratio for FY28, with benefits 3-4 quarters out.
Risks
Motor OD loss ratio about 94% ex-CAT in Q2 (analyst-cited); NatCat impact ₹71 Cr in H1. Distribution reform could curb financing-linked sales.
Last quarter's promises, checked
Partly delivered
- Motor OD below 80% 'over a period of time' → FY28 78-80% target set, not yet met (= PARTIAL)
Missed
- Motor OD LR 'high-70s' near-term → Q2 ~94% ex-CAT (analyst-cited) (= MISS)
- Fixes to show 'within a couple of quarters' → H1 combined ratio 124.2% vs Q1 120.4% (= MISS)
Summary by ALFA Finder, written with AI assistance from the earnings call transcript the company filed, published . Open it on ALFA Filings ›
The results behind this call
Cholamandalam Financial Holdings Q2 FY27 Results: Net Profit ₹1,520 Cr, Up 25.2% YoY
Cholamandalam Financial Holdings Ltd reported revenue from operations of ₹11,264 Cr (+19.2% YoY) and net profit of ₹1,520 Cr (+25.2% YoY) for Q2 FY27.
- Key figure
- Net profit ₹1,520 Cr · +25.2% YoY
What management said last time
Full summary →From the call summary published .
Outlook they gave
Targeting motor OD loss ratios below 80% through better sourcing and mix management in coming quarters.
Growth they described
GWP grew 6.7% to ₹2,130 Crores; motor insurance remains the primary driver despite industry-wide claims inflation.
Call details
| Company | Cholamandalam Financial Holdings Ltd |
|---|---|
| NSE symbol | CHOLAHLDNG |
| ISIN | INE149A01033 |
| Call | Q2 FY27 earnings call |
| Date | Friday, 6 November 2026 |
| Time | 4:00 PM IST |
| Length | 31 min |
Cholamandalam Financial Holdings Ltd: key numbers
- Share price
- ₹1,460.00
- Market cap
- ₹27,416 Cr
- Revenue (annual)
- ₹39,073 Cr
- Net profit (annual)
- ₹2,441 Cr
- P/E (TTM)
- 9.9×Sector 22.5×
- Promoter holding
- 46.39%-0.04% QoQ
- FII holding
- 12.57%Current quarter
Reference market data from a third-party provider, updated daily. Not a valuation or a recommendation.
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