ARTICLE AD BOX
Motilal Oswal expects Cholamandalam to deliver a PAT CAGR of ~25% over FY25-28, with RoA/RoE of 2.7%/20% by FY28, hence reiterates Buy.
10 Dec 2025, 11:53 AM IST i 10 Dec 2025, 11:53 AM IST 10 Dec 2025, 11:53 AM IST

Cholamandalam is gradually evolving into a more robust and resilient NBFC.
(Photo source: Usha Kunji/ NDTV Profit)
In this report Motilal Oswal highlights Cholamandalam’s measured approach of curbing exposure to riskier product lines, while simultaneously expanding newer businesses, such as credit-deposit and gold loans, underscores its commitment to preserving earnings quality and maintaining balance sheet strength.

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