Cholamandalam Financial Holdings Limited has informed the Exchange about Transcript
CHOLAHLDNG · price
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Cholamandalam Financial Holdings held its Q4 FY26 earnings call focused on subsidiary Chola MS General Insurance. The company reported GDPI of INR 7,762 crores for FY26, impacted by loss of crop insurance business (INR 590 crores). Combined ratio stood at 115.2% (112.2% excluding 1/n accounting effect), with claims ratio at 81.3%. The motor portfolio composition shifted towards cars (49%) while 2-wheeler business was deliberately reduced from 19.6% to 10.6%. Management expects 7-8% improved pricing in motor OD business over next 6 months. The company will transition to IFRS from April 2027 and targets 15%+ ROE in medium-to-long term. Leadership transition announced with Rajive Kumaraswami taking over as Managing Director from June 1.
The combined ratio above 100% indicates underwriting losses, but management expects motor OD pricing improvements and crop insurance recovery to drive combined ratio lower. The IFRS transition expected to benefit P&L through discounting of motor TP reserves. The 15%+ ROE target signals confidence in medium-term profitability improvement despite near-term margin pressure.