Key Financial results (Q2 & H1 FY23): • Disbursements at ₹ 14,623 Cr for the quarter (Up by 68%) and ₹ 27,953 Cr for the half year (Up by 126% YoY) • Total AUM at ₹ 91,841 Cr (Up by 22% YoY) • Net Income Margin up at ₹ 1,697 Cr for the quarter (Up 21% YoY) and ₹ 3,337 Cr for the half year (Up 20% YoY) • PAT at ₹ 563 Cr for the quarter (down by 7%) and ₹ 1,129 Cr for the half year (Up by 21% YoY)

Chennai, November 01, 2022: The Board of Directors of CIFCL today announced the unaudited financial results for the quarter and half year ended 30 th September 2022.

Central banks across the world have hiked the interest rate in response to high inflation. This may lead to possible global recession and financial crisis in emerging market and developing economies. Despite the grim outlook India is the fastest growing economy in the world. IMF has projected 6.8% growth for India in FY2022-23. While India could fare well relatively, it faces headwinds from imminent global demand and trade slowdown, risks of higher global inflation and interest rates, and a strengthening US dollar. Despite these factors, Chola has achieved its highest ever quarterly disbursals which was possible through our diversified product mix, and this will help sustain the momentum moving onto the festival season ahead.

Performance Highlights: Note:
Profits after Tax (PAT) for Q2 FY 23 were at ₹ 563 Cr compared to ₹ 606 Cr in Q2 FY 22, registering de-growth of 7% YoY. Q1 of FY 22 was impacted by Covid 2nd wave and lockdowns Rs in Cr Particulars Q2 FY-22 Q2 FY-23 Growth (Y-o-Y) YTD Sep 21 YTD Sep 22 Growth (Y-o-Y) Disbursements 8,706 14,623 68% 12,341 27,953 126% AUM 75,063 91,841 22% 75,063 91,841 22% Total Income 2,481 3,038 22% 4,959 5,809 17% Finance Cost -1,078 -1,340 24% -2,182 -2,471 13% Net Income 1,403 1,697 21% 2,778 3,337 20% Total Expenses -518 -661 28% -888 -1,241 40% Loan Losses -69 -278 304% -632 -577 -9% Profit Before Tax 816 758 -7% 1,257 1,520 21% Profit After Tax 606 563 -7% 933 1,129 21% resulting in forward flows to higher buckets and higher provisioning. Post release of lockdowns in Q2 of FY 22, the company was able to roll-back customers who moved into higher buckets in Q1 of FY 22. Hence, Q1 of FY 22 had higher credit loss provisioning at over 3% and NCL of Rs.563 Cr and Q2 of FY 22 resulted in a meagre 0.37% and NCL of Rs.69 Cr. Quarter on quarter numbers are not comparable as things were normalized in current financial year. The company had registered strong growth of 21% of PAT in H1 FY 23 at ₹ 1,129 Cr as against ₹ 933 Cr of previous year. • Aggregate disbursements in Q2 FY 23 were at ₹ 14,623 Cr as against ₹ 8,706 Cr in Q2 FY 22 with a growth of 68%. Disbursements in H1 FY 23 were at ₹ 27,953 Cr as against ₹ 12,341 Cr registering the growth of 127% Y-on-Y. • Vehicle Finance (VF) disbursements were at ₹ 8,502 Cr in Q2 FY 23 as against ₹ 6,161 Cr in Q2 FY22, registering a growth of 38%. Disbursements in H1 FY 22, were at ₹ 17,063 Cr as against ₹ 9,007 Cr in the previous year, reporting a growth of 89% Y-o-Y. • Loan Against Property (LAP) business disbursed ₹ 2,246 Cr in Q2 FY 23, as against ₹ 1,624 Cr in Q2 FY 22, with a good growth rate of 38%. The Disbursements in H1 FY 23 were at ₹ 4,282 Cr as against ₹ 2,006 Cr in the previous year, registering a good growth rate of 113% Y-o-Y. • Home Loan (Affordable HL and Affordable LAP) business disbursed ₹ 743 Cr in Q2 FY 23, as against ₹ 605 Cr in Q2 FY 22 registering growth of 23%. The Disbursements in H1 FY 23 were at ₹ 1,354 Cr as against ₹ 808 Cr in the previous year, registering a growth of 67% Y-o-Y. • Small and Medium Enterprises Loan (SME) business disbursed ₹ 1,473 Cr in Q2 FY 23, registering 367% growth over ₹ 315 Cr in Q2 FY 22. The disbursements in H1 FY23 were at ₹ 2,503 Cr, registering 382% growth over ₹ 519 Cr in H1 FY 22. • Consumer and Small Enterprise Loans (CSEL) disbursed ₹ 1,579 Cr and ₹ 2,633 Cr in Q2 and H1 respectively for the FY 23. • Secured Business and Personal Loan (SBPL) disbursed ₹ 81 Cr and ₹ 118 Cr in Q2 and H1 respectively for the FY 23. • Assets under management as of 30th Sep 2022, stood at ₹ 91,841 Cr as compared to ₹ 75,063 Cr as of end Sep in FY 22. • PBT-ROA for Q2 FY 23 was at 3.4% and for the half year was at 3.5% which was at similar levels in H1 of FY 22. • ROE for the H1 FY 23 was at 18.3 % as against 18.7% in previous year. • The Company continues to hold a strong liquidity position with ₹ 4,841 Cr as cash balance as at end of September 22 (including Rs 1500 Cr invested in Gsec shown under investments), with a total liquidity position of ₹ 6,573 Cr (including undrawn sanctioned lines). The ALM is comfortable with no negative cumulative mismatches across all time buckets. • Consolidated Profit After Tax (PAT) for Q2 FY 23 were at ₹ 563 Cr as against ₹ 611 Cr in Q1 FY 22 and for H1 FY 23 were at 1,125 Cr as against 939 Cr in HY FY 22 with a growth of 20%. Asset Quality CIFCL asset quality as at end of September 2022, represented by Stage 3 assets stood at 3.84% with a provision coverage of 41.48%, as against 4.16% as at end of June 2022 with a provision coverage of 40.69%. The total provisions currently carried against the overall book is 2.73% as against the normal overall provision levels of 1.75% carried prior to the Covid-19 pandemic. As per revised RBI norms (early adopted though the implementation date is only 1st Oct 2022) GNPA% and NNPA% as of September 2022 is at 5.84% and 3.99% respectively. We carry ₹ 771 Cr higher provisions under INDAS over IRAC. As per prevailing IRAC norms the GNPA will be similar to the stage 3 numbers, given above. The details of the stagewise assets and provisions are given in the annexure. Capital Adequacy: The Capital Adequacy Ratio (CAR) of the company as on 30 th September 2022, was at 18.40% as against the regulatory requirement of 15%. Tier-I Capital was at 15.77%. About Cholamandalam Cholamandalam Investment and Finance Company Limited (Chola), incorporated in 1978 as the financial services arm of the Murugappa Group. Chola commenced business as an equipment financing company and has today emerged as a comprehensive financial services provider offering vehicle finance, home loans, home equity loans, SME loans, investment advisory services, stock broking and a variety of other financial services to customers. Chola operates from 1151 branches across India with assets under management above INR 91,841 Crores. The mission of Chola is to enable customers enter a better life. Chola has a growing clientele of over 16 lakh happy customers across the nation. Ever since its inception and all through its growth, the company has kept a clear sight of its values. The basic tenet of these values is a strict adherence to ethics and a responsibility to all those who come within its corporate ambit – customers, shareholders, employees and society. For more details, please visit About Murugappa Group Founded in 1900, the INR 547 Billion (INR 54,722 Crores) Murugappa Group is one of India’s leading business conglomerates. The Group has 29 businesses including ten listed Companies traded in NSE & BSE. Headquartered in Chennai, the major Companies of the Group include Carborundum Universal Ltd., CG Power and Industrial Solutions Ltd., Cholamandalam Financial Holdings Ltd., Cholamandalam Investment and Finance Company Ltd., Cholamandalam MS General Insurance Company Ltd., Coromandel International Ltd., Coromandel Engineering Company Ltd., E.I.D. Parry (India) Ltd., Parry Agro Industries Ltd., Shanthi Gears Ltd., Tube Investments of India Ltd. and Wendt (India) Ltd. The Group holds leadership position in several product lines including Abrasives, Technical Ceramics, Electro Minerals, Auto Components & Systems, Power Conversion Equipment, Transformers & Reactors for the Power T&D segment, Solutions for Railways in Rolling Stock & Signalling Equipment, Bicycles, Fertilisers, Sugar, Tea and Spirulina (Nutraceuticals). The Group has forged strong alliances with leading international companies such as Groupe Chimique Tunisien, Foskor, Mitsui Sumitomo, Morgan Advanced Materials, Yanmar & Co. and Compagnie Des Phosphat De Gafsa (CPG). The Group has a wide geographical presence all over India and spanning 6 continents. Renowned brands like BSA, Hercules, Montra, Mach City, Ballmaster, Ajax, Rhodius, Parry’s, Chola, Gromor, Shanthi Gears and Paramfos are from the Murugappa stable. The Group fosters an environment of professionalism and has a workforce of over 59,000 employees. For more details, visit

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