Nirmal Bang

Nirmal Bang, one of the leading stock broking companies in India, caters to retail and institutional clients by offering them a range of financial products and services, including equities, derivatives, commodities, currency derivatives, mutual funds, IPOs, insurance, depository services and PMS.

Nirmal Bang is drawn from a diversity of professional backgrounds, and blend of experience, skill and dedication is shared with its clients. Nirmal Bang emphasizes adequate, thorough research local and world-wide developments, balancing these with the astute discovery of intrinsic values, synergies and growth. The aim is simply to help the investors to maximize their returns.

A Relationship Beyond Broking

External broker reports(aggregated public sources), Nirmal Bang

External broker reports(aggregated public sources)

Equity Bottom-Up

Cholamandalam Investment and Finance / Equity Bottom-Up

Cholamandalam Investment and Finance (CIFC IN)

<ul><li>Disbursements strong: Disbursements at Rs127bn were up 58% YoY and 22% QoQ. Vehicle Finance disbursements grew by 43% YoY and 15% QoQ.</li><li>I<span style="font-size: var(--content-font-size);">mproved collections and higher write-offs lead to lower NPAs: Write-offs for 4QFY22 at Rs5.5bn (calc), 0.7% of gross advances, were higher than normal range of 10-20bps per quarter.</span></li><li><div><div><div><p>Other key takeaways: (1) Focus is to maintain NIM at ~7.5% levels and RoA at 3-3.5%</p></div></div></div></li></ul><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

Disbursements strong: Disbursements at Rs127bn were up 58% YoY and 22% QoQ. Vehicle Finance disbursements grew by 43% YoY and 15% QoQ.Improved collections and higher write-offs lead to lower NPAs: Write-offs for 4QFY22 at Rs5.5bn (calc), 0.7% of gross advances, were higher than normal range of 10-20bps per quarter.Other key takeaways: (1) Focus is to maintain NIM at ~7.5% levels and RoA at 3-3.5%Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Cholamandalam Investment - Provision Write-Back Aids Profitability; Asset Quality Improves