Cholamandalam Investment and Finance Company Limited has informed the Exchange about Transcript
CHOLAFIN · price
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Awaiting price reaction for this filing.
Cholamandalam filed the transcript of an investor call convened at short notice to respond to allegations published by Cobrapost against the company, its associates, and other Murugappa Group entities. Management termed the allegations 'malicious and baseless' and clarified each point: cash collections are under 20% of total (down from 50% earlier), all related party transactions are fully disclosed and at arm's length with third-party and statutory auditor verification, and total rating agency fees are about INR 20 crore per year (0.01% of borrowings of ~INR 1,74,000 crore). Financial position was reaffirmed as strong — net worth of INR 26,783 crore (up over INR 3,000 crore from FY25), cash and bank balances of INR 14,900 crore, CAR of 19.79% with Tier-1 at 14.53%, and AA+ ratings from ICRA, India Ratings, and CARE. The role of Murugappa Management Services (MMS) has been pared down to under INR 1 crore per annum since FY22. Management indicated Q3 will be a 'turnaround quarter' with vehicle finance and home loan disbursements picking up, and noted the company recently completed a six-week regulatory inspection.
This is a defensive, reputation-management call rather than a strategic update. The detailed point-by-point rebuttals and strong financial disclosures should help contain stock volatility from the negative publicity, though near-term sentiment may remain cautious until regulators conclude their review of the Cobrapost complaint.