Cholamandalam Investment and Finance Company denied media reports and reiterated that Vellayan Subbiah continues to be the Executive Chairman of Cholamandalam Investment and Finance Company and confirmed no change in control. The stock also saw a significant recovery in intra-day trade and ended flat after a knee-jerk reaction earlier in the day.
In a statement released on BSE, Cholamandalam Investment stated that, “Vellayan Subbiah continues to be the Executive Chairman of Cholamandalam Investment and Finance Company in accordance with his duly approved appointment for a five-year term from April 1, 2025, to March 31, 2030.”
‘No change in management control structure’
The company also clarified that there has been no change in the management control structure or ownership of the Murugappa Group’s businesses. It added that the current management structure remains unchanged, with Vellayan Subbiah and M.A.M. Arunachalam overseeing Tube Investments of India, Cholamandalam Investment and Finance Company, CG Power and Industrial Solutions, and their respective subsidiaries.
Chola said it continues to comply with disclosure requirements under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and would make appropriate disclosures if any event requiring disclosure occurs.
Chola Q3 results
Meanwhile, the company recorded a total income of Rs 7,985 crore for Q3FY26 as compared to Rs 6,812 crore in Q3FY25. Furthermore, the Profit after tax for the same period is Rs 1,288 crore, as compared to Rs 1,087 crore in Q3FY25.