Q1 2025 Cholamandalam Financial Holdings Ltd Earnings Call Transcript
Key Points
- Chola MS recorded a gross direct premium of INR1,921 crores with a growth rate of 14.2%, outperforming the industry growth of 12.4%.
- The company's expense of management for the quarter decreased to 33.35% from 33.87% in the corresponding quarter.
- The claims ratio for the quarter improved to 72% from 74.5% in the corresponding quarter.
- The combined ratio for the quarter improved to 108.8% from 112.9% in the corresponding previous quarter.
- The profit before tax for the quarter increased significantly to INR179 crores from INR88 crores in the corresponding quarter.
- Retail health growth was 9%, which is lower than the multi-line insurers' growth of 11.4%.
- Motor business growth was only 3.2%, which is below the industry average.
- The impact of Cyclone Remal resulted in a loss of INR6.3 crores.
- The company's return on equity for the quarter was 5.2%, which is not annualized and may indicate lower profitability.
- The company has not yet considered the SEBI circular regarding delisting, which could affect shareholder value.
Ladies and gentlemen, good day and welcome to the Cholamandalam Financial Holdings Limited Q1 FY '25 earnings conference call hosted by Kotak Securities Limited. (Operator Instructions)
Please note that this conference is being recorded. I now hand the conference over to Mr. Nischint Chawathe from Kotak Securities. Thank you, and over to you, sir.
Thank you. Good morning, everyone. Welcome to the earnings conference call of Cholamandalam Financial Holdings Limited. To discuss the 1Q FY '25 performance of Chola Holdings and share industry and business updates, we have with us the senior management today.
The management is represented by Mr. Sridharan Rangarajan, Director, Cholamandalam Financial Holdings Limited; Mr. N. Ganesh, Chief Financial Officer, Cholamandalam Financial Holdings Limited; Mr. V. Suryanarayanan, Managing Director; Chola MS General Insurance Company Limited; and Mr. S. Venugopalan, Chief Financial Officer; Chola MS General Insurance Company Limited.
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