Cholamandalam Investment and Finance : Annual Report 2022-23

BETTER

LIVES

BETTER

NATION

CholamandalamInvestment and Finance Company Limited

Annual Report 2022-2023

Note: Across this report, the word 'Chola' refers to 'Cholamandalam Investment and Finance Company Limited.'

Forward-looking statement

In this Annual Report we may have disclosed forward-looking information to enable investors to comprehend our prospects and take informed investment decisions. This report and other statements - written and oral - that we periodically make, may contain forward-looking statements that set out anticipated results based on the management's plans and assumptions. We have tried wherever possible to identify such statements by using words such as 'anticipates', 'estimates', 'expects', 'projects', 'intends', 'plans', 'believes' and words of similar substance in connection with any discussion of future performance.

We cannot guarantee that these forward-looking statements will be realised, although we believe we have been prudent in our assumptions. The achievement of results is subject to risks, uncertainties and inaccurate assumptions. Should known or unknown risks or uncertainties materialise or should underlying assumptions prove inaccurate, our actual results could vary materially from those anticipated, estimated or projected. Readers should bear this in mind.

We undertake no obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise.

Cholamandalam Investment and Finance Company Limited	Annual Report 2022-2023

BETTER LIVES

BETTER NATION

For over four decades Chola has been committed to enriching millions of lives across India by providing nancial assistance to full their dreams, meet their long-term and short-term goals and to grow their business. Chola reaches out to the segments of society that has little or no access to credit, giving them hope for a better future. Chola plays a pivotal role in the shift to a better life. Customers come to Chola as truck drivers and transform as eet owners, tenants become home owners, ideas and dreams become reality.

Chola believes that transforming the small business sector will empower the nation. Opening the tap to the untapped sectors is watering the roots to strengthen the tree. No nation can really progress unless its citizens progress. When you support people nancially, you break barriers, open doors to a better life. Chola has been fuelling the aspirations and serving its customers through nancial products that meet various needs, delivered with trust and responsibility. By empowering individuals and families, Chola believes that better lives will lead to a better nation.

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Cholamandalam Investment and Finance Company Limited	Annual Report 2022-2023

CONTENTS

CORPORATE OVERVIEW

04	Corporate Information
10	Message from the Chairman
12		Board of Directors
15	Pan India Presence
16	Business Highlights
22		Business Review
33	ESG Initiatives
35	CSR Initiatives
36	Financial Highlights
MANAGEMENT REPORTS
38		Board's Report
58	Management Discussion and Analysis
66	Report on Corporate Governance
78		General Shareholders Information
84	Business Responsibility and
Sustainability Report

FINANCIAL STATEMENTS

117		Standalone Financial Statements
222	Consolidated Financial Statements

313 GLOSSARY

CORPORATE INFORMATION

BOARD OF DIRECTORS

Mr. Vellayan Subbiah

Mr. N. Ramesh Rajan

Mr. Anand Kumar

Ms. Bhama Krishnamurthy

Mr. M. A. M. Arunachalam

Mr. Rohan Verma

Mr. Ravindra Kumar Kundu

SECRETARY

Ms. P. Sujatha

Phone: [phone] (B) 40907055 (D)

Fax: [phone]

E-mail:[e-mail]

AUDITORS

M/s. Price Waterhouse LLP

7th Floor, Menon Eternity, 165, St. Mary's road, Alwarpet, Chennai - 600028

M/s. Sundaram & Srinivasan, Chartered Accountants, 23, CP Ramaswamy Road, Alwarpet, Chennai 600018

REGISTERED OFFICE

Dare House, No. 2, N.S.C. Bose Road, Parrys, Chennai - 600 001

CORPORATE IDENTITY NUMBER

L65993TN1978PLC007576

REGISTRAR & SHARE

TRANSFER AGENT

KFin Technologies Limited

(Unit: Cholamandalam Investment and Finance Company Limited) Selenium Building Tower B, Plot 31-32, Financial District, Nanakramguda, Serilingampally, Hyderabad,

Rangareddi, Telangana 500 032 Phone No.: 040-67162222 | 79611000

Toll Free No.: 18003094001| Fax No: 040-23001153

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Cholamandalam Investment and Finance Company Limited	Annual Report 2022-2023

CHOLA'S STATEMENT OF PURPOSE

BELIEVE IN INDIA

Our beliefs are the heart of our passion, the genes of our genius. We believe India is rising and it will continue to rise. Because, the wisdom of our ancient civilization is now being powered by the aspirations of one of the world's youngest populations.

BELIEVE IN CHOLA

We believe that Chola is uniquely placed to full these aspirations. Armed with a workforce, charged by the fearless spirit of youth, each of our business give wings, to the dreams of millions of young Indians. Dreams that will power and propel Chola to the pinnacle of progress. We believe we will achieve this fully, by championing our values. Values that allow us

to be transparent and grow, so that young India with dreams,

can come to us in faith and leave fullled.

This is our purpose.

And every great cause calls for great leadership. Marching under a banner of meritocracy,

we believe in growing great leaders from within. Leaders who are young.

Leaders who will make today better than yesterday.

Through transparency, through teamwork, we believe that each one of us is this leader. That each one

of us can make a dierence. Not just for our customers, but also for our country.

BELIEVE IN YOURSELF

Only one person controls your destiny. That person is you! Chola trusts you and believes in you,

so believe in yourself. Believe that you will create Chola of the future.

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