ADVERTISEMENT

Cholamandalam Investment, Computer Age Management Q4 Review: HDFC Securities

Cholamandalam Investment, Computer Age Management Q4 Review: HDFC Securities

<div class="paragraphs"><p>A woman looks at an electronic board showing the graph of the recent fluctuations of market indices. (Photo: Amanda Perobelli/ Source: Reuters)</p></div>
A woman looks at an electronic board showing the graph of the recent fluctuations of market indices. (Photo: Amanda Perobelli/ Source: Reuters)

BQ Prime’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BQ Prime’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

HDFC Securities Institutional Equities

Cholamandalam Investment and Finance Company Ltd. - Cholamandalam’s Q4 FY22 earnings were 18% ahead of our estimates, largely on the back of reversal of Covid-19 provisions.

Consistent with other asset financiers, the stressed pool (gross stage-II plus gross stage-III) witnessed a sharp sequential reduction to 12% (Q3:16%), led by healthy collections and recoveries and improving economic activity, with net stage-III at 2.7% (near the pre-Covid level).

Business momentum continued to gain traction, with strong disbursal growth (up 58% YoY); new businesses contributed 12% of the mix in Q4 FY22.

Computer Age Management Services Ltd. - CAMS reported an in-line revenue (up 2% QoQ, similar to other asset management companies); however, higher admin and opex led a 4% sequential dip in core income to Rs 947 million.

Mutual fund average assets under management witnessed a 1% dip in market share to 69% alongside continued compression in core revenue yields (albeit milder compression compared to listed AMCs).

Click on the attachment to read the full report:

HDFC Securities Institutional Equities Cholamandalam, CAMS Q4FY22 Result Update.pdf

DISCLAIMER

This report is authored by an external party. BQ Prime does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BQ Prime.

Users have no license to copy, modify, or distribute the content without permission of the Original Owner.