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Murugappa Group holding company whose main value is its stake in Cholamandalam Investment & Finance and Chola MS Insurance.
Murugappa Group holding company whose main value is its stake in Cholamandalam Investment & Finance and Chola MS Insurance.
Holds shares rather than running a business itself, so what it earns comes from the vehicle-finance lender and the general insurer in which it owns stakes, and from dividends they pay upward. The Murugappa Group, a Chennai-based industrial family group, controls it.
Moat: none. Value derives entirely from underlying operating subsidiaries, not an independent moat.
Headquarters: Chennai, India · Founded: 1949 · Employees: 54,000
Size Cholamandalam Financial (CHOLAHLDNG.NS) is an India Financials company (Finance/Rental/Leasing) with a market value of $2.89B, the 296th largest of 1,058 India companies the cockpit tracks. Shares closed at ₹1,455 on 6 Nov 2026.
Performance Over six months the shares fell 17.1%, against -7.7% for the median peer and 0.0% for the India market (cap-weighted) — 9th lowest of 21 in its peer set.
Growth Revenue grew 17.8% over the last twelve months (peer median +11.1%); the operating margin is 28.2% (peer median 30.8%).
Valuation It trades at 1.77× book value against a peer median of 1.48× (9th most expensive of 21).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | ₹414B | ₹393B | ₹331B | ₹256B | ₹182B |
| Revenue growth | — | +19% | +30% | +41% | — |
| Gross profit | ₹207B | ₹315B | ₹264B | ₹197B | ₹143B |
| EBITDA | ₹120B | ₹257B | ₹217B | ₹161B | ₹107B |
| Net income | ₹26.7B | ₹24.4B | ₹21.7B | ₹17.7B | ₹12.9B |
| Free cash flow | n/a | ₹155B | ₹111B | ₹59.1B | ₹63.4B |
| Capital expenditure | n/a | ₹3.60B | ₹3.41B | ₹11.7B | ₹2.61B |
| Total debt | n/a | ₹2.11T | ₹1.75T | ₹1.34T | ₹974B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | ROE | Price / book | Implied ROE |
|---|---|---|---|---|---|---|
| Cholamandalam Financial CHOLAHLDNG.NS | $2.89B | -17% | +18% | 17% | 1.77× | 26.2% |
| Bajaj Holdings & Investment BAJAJHLDNG.NS | $13.0B | +4% | -14% | 13% | 1.67× | 20.7% |
| Tata Investment TATAINVEST.NS | $3.06B | -22% | +18% | 1% | 0.93× | 13.0% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | CHOLAHLDNG.NS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +3.7% | +2.7% | 11th highest of 21 |
| 6-month return | -17.1% | -7.7% | 9th lowest of 21 |
| Return on equity | 17.5% | 12.8% | 6th highest of 21 |
| Price / book | 1.77× | 1.48× | 9th most expensive of 21 |
| Trailing P/E | 10.2× | 11.5× | 9th cheapest of 19 |
| ROE the price implies | 26.2% | 13.5% | 6th most demanding of 21 |
| Company | Market | Market cap | 6M return | Revenue growth | ROE | Price / book | Implied ROE | Delivered ROE |
|---|---|---|---|---|---|---|---|---|
| Cholamandalam Financial CHOLAHLDNG.NS | India | $2.89B | -17% | +18% | 17% | 1.77× | 26.2% | n/a |
| IIFL Finance IIFL.NS | India | $2.83B | +35% | +36% | 18% | 1.73× | 23.7% | 17.6% |
| PNB Housing Finance PNBHOUSING.NS | India | $3.03B | +5% | +11% | 12% | 1.42× | 19.4% | 12.3% |
| McGrath RentCorp MGRC | United States | $3.05B | +9% | +2% | 13% | 2.38× | 13.2% | 12.9% |
| Hercules Capital HTGC | United States | $3.06B | 0% | +40% | 16% | 1.32× | 10.4% | 15.7% |
| Marui 8252.T | Japan | $3.09B | -7% | +8% | 12% | 2.12× | 7.1% | 12.4% |
| SLM SLM | United States | $3.10B | -25% | -6% | 25% | 1.55× | 13.8% | 24.7% |
| LIC Housing Finance LICHSGFIN.NS | India | $3.12B | -9% | -1% | 14% | 0.67× | 11.6% | 14.3% |
| China Development Bank Financial Leasing 1606.HK | Hong Kong | $2.66B | +4% | -5% | 13% | 0.40× | 4.5% | 12.6% |
| Manappuram Finance MANAPPURAM.NS | India | $3.23B | +3% | +5% | 7% | 1.90× | 33.0% | n/a |
| Samsung Card 029780.KS | South Korea | $3.30B | -21% | +11% | 7% | 0.51× | 4.2% | n/a |
| Indian Renewable Energy Development Agency IREDA.NS | India | $3.31B | -18% | +17% | 14% | 2.18× | 42.4% | 14.4% |
| Housing & Urban Development HUDCO.NS | India | $3.39B | -30% | +22% | 22% | 1.39× | 31.5% | 21.7% |
| PennyMac Financial Services PFSI | United States | $3.41B | -28% | +4% | 6% | 0.78× | 10.2% | 5.6% |
| Mizuho Leasing 8425.T | Japan | $2.45B | -13% | +16% | 13% | 0.77× | 6.0% | 13.3% |
| WillScot WSC | United States | $3.42B | -33% | -3% | -7% | 3.75× | 35.8% | -7.1% |
| Capri Global Capital CGCL.NS | India | $2.44B | +20% | +53% | 18% | 2.90× | 21.5% | 17.9% |
| UWM UWMC | United States | $2.44B | -56% | +16% | 2% | 2.67× | 32.8% | 2.1% |
| Far East Horizon 3360.HK | Hong Kong | $3.44B | -25% | +1% | 8% | 0.45× | 4.5% | 7.6% |
| Encore Capital ECPG | United States | $2.42B | +36% | +29% | 31% | 2.24× | 21.7% | 30.5% |
| Fuyo General Lease 8424.T | Japan | $2.34B | -6% | +19% | 5% | 0.72× | 4.8% | 4.5% |