Piramal Finance Ltd
PIRAMALFIN NSE
Piramal Finance Ltd
Financial ServicesNSE: PIRAMALFIN BSE: 544597 Finance
Key Fundamentals
MidcapFinanceFinancial ServicesMarket Cap
₹49,436 Cr
Volatility
Moderate
P/E Ratio
29.78
EBITDA
₹7,230 Cr
Return on Equity
5.34%
Debt to Equity
2.84
Book Value
₹1,241.8
52W High
₹2,220
52W Low
₹1,260
Insights
BetaAI-extracted from concalls & annual reports · figures as reported, with sources
Log in to view Piramal Finance Ltd insights
46 extracted metrics + investor summaries across FY14–FY26.
Tapetide Score
Data-driven rating, 0–100. How it works →
Technical Indicators
Key Insights
Weaknesses
5- Company has low interest coverage ratio.
- Tax rate seems low
- Company has a low return on equity of 0.55% over last 3 years.
- Dividend payout has been low at 5.51% of profits over last 3 years
- Working capital days have increased from -7.71 days to 83.6 days
Growth Rate
Revenue Growth
13.38% ↗
Net Income Growth
210.22% ↗
Cash Flow Change
-95.74% ↘
ROE
198.32% ↗
ROCE
4.17% ↗
EBITDA Margin (Avg.)
6.20% ↗
AI Analysis — Bull vs Bear
anthropic claude-opus-4.6 6d agoAI opinion · based on fundamentals
Risk high
Piramal Finance Ltd trades at a market cap of ₹46,700 Cr with a P/E of 27.5x and P/B of 1.65x. The company is in a transformation phase — AUM crossed ₹1 lakh crore in FY26 with growth book now at ~97% of total AUM, but historical profitability remains weak with 3-year average ROE of just ~1% and compounded profit declining 56% over 3 years.
Bull Case 8
- AUM grew 25% YoY to cross ₹1 lakh crore in FY26, with a clear roadmap to ₹1.5 lakh crore by FY28 implying sustained 23-25% CAGR
- Q4 FY26 net profit surged 390% YoY to ₹502 crore, with total income up 56.5% YoY to ₹4,783 crore, signaling operating leverage kicking in
- Growth business now constitutes ~97% of total AUM (up from 34% in FY22), indicating near-complete transition away from legacy wholesale book
- Net Interest Income rose 41% YoY to ₹1,362 crore in Q4 FY26, reflecting improving spread dynamics on the growth book
- Retail lending anchors ~85% of AUM, reducing concentration risk versus the old wholesale-heavy model
- Growth business RoAUM improved to 2.1% in Q4 FY26 from 1.7% in Q4 FY25, showing improving unit economics
- Legacy AUM declined 84% since FY22 to under ₹3,000 crore, reducing the drag from stressed wholesale assets
- TTM revenue growth of 18% with compounded sales CAGR of 21% over 3 years shows steady top-line momentum
Bear Case 8
- 3-year compounded profit has declined 56% and TTM profit is down 23%, reflecting the heavy cost of business transformation
- 3-year average ROE is just 0.55-1%, extremely low for a financial services company of this scale with ₹46,700 Cr market cap
- GNPA at 2.6-2.8% and NNPA at 1.8-1.9% have remained elevated, rising from 2.4% GNPA and 0.8% NNPA in Q4 FY24
- Interest coverage ratio is low, indicating vulnerability to rate cycle changes or asset quality deterioration
- Working capital days deteriorated sharply from -7.7 days to 83.6 days, signaling potential liquidity management challenges
- Dividend payout has been just 5.51% of profits over 3 years with a yield of only 0.53%, offering minimal income return to shareholders
- P/B of 1.65x is being paid for a business delivering sub-2% ROE currently, implying valuation is pricing in future profitability that is yet to materialize
- 10-year compounded profit CAGR is negative at -11%, reflecting a decade of inconsistent earnings through multiple business pivots
This is AI-generated analysis, not financial advice. Do your own due diligence.
AI News Digest
anthropic claude-opus-4.6 15h ago Headwinds 1
- Higher impairment charges in Q1 Aug 24
Piramal Finance recorded higher impairment charges in Q1FY27 despite overall profit growth, signaling potential asset quality pressure ahead.
Positives 3
- Q1FY27 profit up 67% YoY Aug 25
Net profit rose 67% YoY to ₹461 crore in Q1FY27, with revenue up 27% to ₹3,368 crore and retail AUM growing 32%.
- ₹4,000 crore capital raise approved Aug 18
Shareholders approved a special resolution to raise up to ₹4,000 crore via equity or other securities with 99.97% assent in postal ballot.
- ₹1,750 crore promoter warrant issue Aug 24
Board approved preferential issue of 82,94,000 warrants to Nithyam Realty at ₹2,110 per warrant, with 25% upfront payment and EGM on September 19, 2026.
Neutral 3
- QIP floor price set at ₹2,102.65 Aug 24
Piramal Finance opened qualified institutional placement with floor price of ₹2,102.65 per share, following shareholder approval on August 17, 2026.
- Investor meeting in Varanasi Aug 14
Analyst and institutional investor meeting scheduled for August 20, 2026, featuring a branch visit in Varanasi.
- Board met on preferential allotment Aug 19
Board meeting held on August 24 to consider raising funds via preferential allotment; trading window closed for designated persons.
TL;DR: Piramal Finance delivered strong Q1FY27 results with 67% profit growth and 32% retail AUM expansion, while actively raising capital through multiple channels totaling up to ₹5,750 crore. The promoter warrant issue at a premium signals confidence, though rising impairment charges bear watching. The growth and capital-raising trajectory is clearly positive, but asset quality trends in coming quarters will determine whether the re-rating sustains.
Quarterly Results
| Jun 2022 | Dec 2022 | Mar 2023 | Dec 2023 | Mar 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 1,672 | 1,751 | 1,640 | 1,689 | 1,717 | 2,365 | 2,825 | 2,854 | 2,639 | 2,872 | 2,918 | 3,424 | 3,368 |
| Expenses | 366 | 1,570 | 966 | 729 | 2,780 | 936 | 1,374 | 1,537 | 919 | 922 | 983 | 1,978 | 1,296 |
| Operating Profit | 1,306 | 181 | 674 | 960 | -1,063 | 1,429 | 1,451 | 1,317 | 1,721 | 1,949 | 1,935 | 1,446 | 2,073 |
| OPM % | 78% | 10% | 41% | 57% | -62% | 60% | 51% | 46% | 65% | 68% | 66% | 42% | 62% |
| Other Income | 95 | 7 | -10,250 | -1,855 | 249 | 121 | 58 | 269 | 129 | 11 | 96 | 1,377 | 160 |
| Interest | 890 | 834 | 848 | 928 | 999 | 1,305 | 1,364 | 1,417 | 1,492 | 1,567 | 1,646 | 1,674 | 1,734 |
| Depreciation | 18 | 22 | 37 | 38 | 45 | 55 | 54 | 53 | 57 | 144 | 57 | 645 | 56 |
| PBT | 492 | -668 | -10,461 | -1,862 | -1,858 | 190 | 91 | 116 | 301 | 249 | 328 | 505 | 443 |
| Tax % | 25% | -523% | -14% | -31% | -60% | 14% | 57% | 12% | 8% | -31% | -22% | 1% | -4% |
| Net Profit | 370 | 2,824 | -8,982 | -1,282 | -752 | 163 | 39 | 102 | 276 | 327 | 401 | 502 | 461 |
| EPS in Rs | 0.17 | 1.32 | -4.2 | -0.6 | -0.32 | 0.07 | 0.02 | 0.04 | 0.11 | 14.42 | 17.69 | 22.14 | 20.34 |
Profit & Loss
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 6,420 | 7,835 | 11,465 | 10,849 | 12,882 | 9,558 | 8,771 | 6,039 | 6,644 | 6,729 | 10,375 | 11,903 | 12,582 |
| Expenses | 968 | 1,196 | 1,477 | 1,413 | 4,496 | 21,824 | 28,621 | 1,859 | 5,660 | 4,915 | 4,608 | 4,801 | 5,178 |
| Operating Profit | 5,451 | 6,639 | 9,989 | 9,436 | 8,386 | -12,266 | -19,850 | 4,180 | 984 | 1,814 | 5,767 | 7,102 | 7,403 |
| OPM % | 85% | 85% | 87% | 87% | 65% | -128% | -226% | 69% | 15% | 27% | 56% | 60% | 59% |
| Other Income | 2 | 4 | 6 | 41 | -22 | 19 | 32 | -62 | -10,210 | -1,618 | 373 | 1,563 | 1,644 |
| Interest | 4,460 | 5,492 | 6,674 | 7,744 | 9,417 | 5,736 | 218 | 3,337 | 3,470 | 3,659 | 5,282 | 6,379 | 6,621 |
| Depreciation | 27 | 30 | 43 | 28 | 51 | 79 | 81 | 52 | 97 | 152 | 214 | 903 | 902 |
| PBT | 966 | 1,121 | 3,276 | 1,706 | -1,104 | -18,063 | -20,117 | 728 | -12,794 | -3,616 | 645 | 1,383 | 1,525 |
| Tax % | 34% | 34% | 15% | 27% | -11% | -26% | -25% | 26% | -42% | -45% | 25% | -9% | — |
| Net Profit | 642 | 749 | 2,806 | 1,263 | -966 | -13,456 | -15,051 | 540 | -7,401 | -1,975 | 485 | 1,506 | 1,691 |
| EPS in Rs | 22.05 | 25.68 | 89.62 | 40.28 | -30.78 | -429 | -480 | 0.25 | -3.46 | -0.85 | 0.19 | 66.36 | 74.59 |
| Div. Payout % | 14% | 31% | 4% | 14% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 17% | — |
Balance Sheet
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 146 | 292 | 313 | 314 | 314 | 314 | 314 | 21,365 | 21,365 | 23,365 | 45 | 45 |
| Reserves | 4,836 | 5,098 | 7,417 | 8,684 | 7,624 | -5,860 | -20,959 | 823 | -6,584 | -8,470 | 27,051 | 28,103 |
| Borrowings | 48,881 | 61,050 | 81,511 | 91,979 | 96,812 | 90,412 | 89,851 | 46,416 | 41,233 | 45,680 | 65,577 | 79,989 |
| Other Liabilities | 1,567 | 2,805 | 3,048 | 5,367 | 1,853 | 964 | 1,153 | 11,036 | 6,253 | 5,283 | 2,271 | 2,409 |
| Total Liabilities | 55,429 | 69,245 | 92,290 | 1,06,344 | 1,06,602 | 85,830 | 70,359 | 79,640 | 62,266 | 65,858 | 94,943 | 1,10,546 |
| Fixed Assets | 191 | 508 | 211 | 850 | 865 | 920 | 940 | 10,820 | 1,616 | 1,768 | 3,268 | 2,352 |
| CWIP | 810 | 590 | 634 | 129 | 104 | 105 | 0 | 12 | 4 | 10 | 43 | 116 |
| Investments | 1,751 | 1,811 | 13,509 | 8,120 | 2,498 | 3,881 | 8,449 | 13,851 | 12,966 | 8,307 | 12,539 | 9,814 |
| Other Assets | 52,677 | 66,336 | 77,936 | 97,245 | 1,03,135 | 80,924 | 60,970 | 54,956 | 47,681 | 55,773 | 79,094 | 98,264 |
| Total Assets | 55,429 | 69,245 | 92,290 | 1,06,344 | 1,06,602 | 85,830 | 70,359 | 79,640 | 62,266 | 65,858 | 94,943 | 1,10,546 |
Cash Flow
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating | -12,272 | -12,582 | -15,593 | -18,136 | -8,735 | 12,576 | 7,135 | 8,661 | 6,723 | -1,928 | -8,119 | -15,892 |
| Investing | -866 | 24 | -10,930 | 6,091 | 6,135 | 644 | -4,526 | 764 | 72 | -816 | -471 | 2,631 |
| Financing | 12,643 | 15,416 | 26,289 | 11,173 | 1,937 | -7,631 | 0 | -8,366 | -9,487 | 2,773 | 11,625 | 12,393 |
| Net Cash Flow | -496 | 2,858 | -234 | -872 | -663 | 5,589 | 2,609 | 1,060 | -2,691 | 29 | 3,035 | -869 |
| Free Cash Flow | -12,315 | -12,710 | -15,693 | -18,319 | -8,820 | 12,556 | 7,139 | 8,615 | 6,694 | -2,149 | -8,160 | -15,949 |
| CFO/OP | -220 | -184 | -148 | -188 | -99 | -103 | -36 | 217 | 683 | -106 | -141 | -224 |
Ratios
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 11 | 10 | 0 | 1 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Cash Conversion Cycle | 11 | 10 | 0 | 1 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Working Capital Days | -585 | -661 | -346 | -421 | -62 | 38 | 34 | -495 | -230 | -178 | 71 | 84 |
| ROCE % | — | 11% | 10% | 10% | 8% | -13% | -26% | 6% | 1% | 3% | 8% | 6% |
Documents
1
Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation
11h - Piramal Finance schedules investor meetings at Macquarie Asia Conference in Hong Kong and Citi Pan-Asia Conference in Singapore. 11h - Piramal Finance schedules investor meetings at Macquarie Asia Conference in Hong Kong and Citi Pan-Asia Conference in Singapore.
2
Announcement under Regulation 30 (LODR)-Change in Registered Office Address
30 Apr - Registered office shifted on 30 April 2026 from Amiti Building to Piramal Corporate Park, Mumbai. 30 Apr - Registered office shifted on 30 April 2026 from Amiti Building to Piramal Corporate Park, Mumbai.
4
Announcement under Regulation 30 (LODR)-Press Release / Media Release
27 Apr - Piramal Finance reported FY26 PAT of ₹1,506 Cr; AUM crossed ₹1 lakh crore, up 25% YoY. 27 Apr - Piramal Finance reported FY26 PAT of ₹1,506 Cr; AUM crossed ₹1 lakh crore, up 25% YoY.
Frequently Asked Questions about Piramal Finance Ltd
What does Piramal Finance Ltd do?
Piramal Finance Corporation's main business
is of providing loans to Retail customers for construction or purchase of residential property, loans against property, etc.
Where is Piramal Finance Ltd (PIRAMALFIN) listed?
Piramal Finance Ltd is listed on the Indian stock exchanges. It is listed on NSE: PIRAMALFIN and BSE: 544597. You can view its live share price, financials, and ratios on Tapetide.
Which sector does Piramal Finance Ltd belong to?
Piramal Finance Ltd operates in the Financial Services sector within the Finance industry. Sector classification helps investors compare companies affected by similar economic conditions and regulatory changes.
What is the market capitalisation of Piramal Finance Ltd?
Piramal Finance Ltd has a market capitalisation of approximately ₹49436.14 Cr. Based on this, it is classified as a Large Cap stock.
What is the PE ratio of Piramal Finance Ltd?
The Price-to-Earnings (PE) ratio of Piramal Finance Ltd is 29.78. The PE ratio compares a company's share price to its earnings per share and is commonly used to assess whether a stock is overvalued or undervalued relative to its peers.
What is the 52-week high and low of Piramal Finance Ltd?
Over the past 52 weeks, Piramal Finance Ltd has traded between a low of ₹1,260 and a high of ₹2,220. This range helps investors understand the stock's price volatility and recent trading levels.
Does Piramal Finance Ltd pay dividends?
Yes, Piramal Finance Ltd has a dividend yield of 0.50%. Dividend yield indicates the annual dividend income relative to the share price. A consistent dividend history can signal financial stability.
What is the Return on Equity (ROE) of Piramal Finance Ltd?
Piramal Finance Ltd has a Return on Equity (ROE) of 5.34%. ROE measures how effectively a company uses shareholders' equity to generate profits. A higher ROE generally indicates better capital efficiency.
How can I research Piramal Finance Ltd on Tapetide?
On Tapetide, you can view Piramal Finance Ltd's live share price, quarterly results, profit & loss statements, balance sheet, cash flow, key ratios, shareholding pattern, technical indicators, analyst ratings, and forecasts — all on a single page without needing to sign up.
Company Information
Piramal Finance Corporation's main business is of providing loans to Retail customers for construction or purchase of residential property, loans against property, etc.