Home / Business and Economy / Cholamandalam Chairman Status Clarified Amidst Rumors
Cholamandalam Chairman Status Clarified Amidst Rumors
26 Feb
Summary
- Executive Chairman Vellayan Subbiah's tenure confirmed until March 2030.
- Company denies any change in management control or ownership structure.
- Chola reports significant income and profit growth in Q3FY26.
Cholamandalam Investment and Finance Company has issued a clear denial of recent media speculation, reaffirming that Vellayan Subbiah continues in his role as Executive Chairman. This confirmation is crucial as his appointment is officially set for a five-year term, running from April 1, 2025, to March 31, 2030.
The company explicitly stated that there has been no alteration to the management control structure or ownership of the Murugappa Group's businesses. The existing leadership, including Vellayan Subbiah and M.A.M. Arunachalam, continues to direct major entities like Tube Investments of India and CG Power and Industrial Solutions.
Financially, Cholamandalam Investment reported strong third-quarter results for FY26. The total income for the quarter stood at Rs 7,985 crore, an increase from Rs 6,812 crore in the same period of the previous fiscal year. Profit after tax also saw a healthy rise, climbing to Rs 1,288 crore from Rs 1,087 crore in Q3FY25.
