Piramal Finance Ltd
PIRAMALFIN NSE
Piramal Finance Ltd
Financial ServicesNSE: PIRAMALFIN BSE: 544597 Finance
Piramal Finance Corporation's main business is of providing loans to Retail customers for construction or purchase of residential property, loans against property, etc.
AI Verdict: HOLD Confidence: 4%
Piramal Finance trades at a PE of 30.1x with an extremely weak ROE of ~1% over 3 years and a TTM profit decline of 46%. While the 5-year stock CAGR of 164% and 21% 3-year sales growth show potential, the deteriorating profitability and rising working capital days warrant caution until earnings stabilize.
Key Fundamentals
MidcapFinanceFinancial ServicesMarket Cap
₹47,668 Cr
Volatility
Moderate
P/E Ratio
39.2
EBITDA
₹7,230 Cr
Debt to Equity
2.63
Book Value
₹1,241.8
52W High
₹2,175
52W Low
₹1,260
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 3d agoHOLD
Risk high
Piramal Finance trades at a PE of 30.1x with an extremely weak ROE of ~1% over 3 years and a TTM profit decline of 46%. While the 5-year stock CAGR of 164% and 21% 3-year sales growth show potential, the deteriorating profitability and rising working capital days warrant caution until earnings stabilize.
Bull Case 7
- Strong 5-year stock price CAGR of 164%, indicating significant long-term wealth creation for investors
- Compounded sales growth of 21% over 3 years demonstrates healthy top-line expansion in the lending business
- TTM revenue growth of 15% shows continued momentum in loan book growth
- Market cap of Rs 45,866 Cr provides institutional-grade liquidity and index eligibility potential
- 5-year compounded profit growth of 15% suggests the business can generate earnings over longer cycles
- Price-to-book ratio of 1.61x is reasonable for an NBFC with a growing loan book, compared to peers trading at 2-4x
- 10-year stock CAGR of 27% demonstrates sustained long-term compounding through multiple business cycles
Bear Case 8
- TTM compounded profit has declined 46%, indicating severe earnings deterioration in the most recent period
- 3-year ROE of just 1% is abysmal for a financial services company where cost of equity typically exceeds 12-14%
- Low interest coverage ratio signals potential stress in servicing debt obligations on the balance sheet
- Working capital days have deteriorated sharply from -7.71 days to 83.6 days, suggesting asset-liability mismatch risks
- 3-year compounded profit decline of 56% reflects structural profitability challenges, not just a one-off event
- Dividend payout of only 5.51% of profits over 3 years offers negligible income return to shareholders
- PE of 30.1x is elevated given the weak ROE profile and declining earnings trajectory
- Dividend yield of just 0.55% provides no meaningful downside cushion in a rising rate environment
This is AI-generated analysis, not financial advice. Do your own due diligence.
AI News Digest
anthropic claude-opus-4.6 14h ago Positives 4
- FY26 net profit surges 210% Jun 16
Consolidated net profit rose 210% YoY to ₹1,506 Cr for FY26, driven by strong retail growth and asset quality improvements.
- Targets 25% AUM growth FY27 May 28
Total AUM reached ₹1,01,230 Cr in FY26. Management targets 25% AUM growth in FY27 alongside the 210% profit jump.
- Final dividend ₹11 per share May 29
Record date fixed as June 12, 2026 for a final dividend of ₹11 per share for FY26, subject to AGM approval on July 2.
- NCLAT eases merger approval May 26
NCLAT removed the requirement for an equity shareholder meeting for Piramal Finance's amalgamation of wholly owned subsidiaries, simplifying the merger process.
Neutral 4
- No promoter share encumbrance Jun 17
Promoters confirmed zero encumbrance on shares during FY26 under SEBI SAST regulations, filed with BSE and NSE.
- BRSR filed for FY26 Jun 10
Filed Business Responsibility & Sustainability Report for FY26 with ESG metrics assured by LKM & Co.
- Investor meeting scheduled Jun 17 Jun 10
Analyst and institutional investor meeting scheduled for June 17, 2026 in Thane.
- 42nd AGM set for July 2 Jun 9
Annual General Meeting scheduled for July 2, 2026 via video conferencing with record date announced for final dividend.
TL;DR: Piramal Finance is in a strong growth phase with FY26 net profit up 210% to ₹1,506 Cr and AUM crossing ₹1 lakh Cr. Management guidance of 25% AUM growth in FY27 and a healthy ₹11/share dividend signal confidence. No material headwinds are visible in recent news flow. The trend is clearly improving with profitability inflecting and regulatory/corporate actions proceeding smoothly.
Quarterly Results
| Jun 2021 | Jun 2022 | Dec 2022 | Mar 2023 | Dec 2023 | Mar 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 2,001 | 1,672 | 1,751 | 1,640 | 1,689 | 1,717 | 2,365 | 2,825 | 2,854 | 2,639 | 2,872 | 2,918 | 3,424 |
| Expenses | 1,487 | 366 | 1,570 | 966 | 729 | 2,780 | 936 | 1,374 | 1,537 | 919 | 922 | 983 | 1,978 |
| Operating Profit | 514 | 1,306 | 181 | 674 | 960 | -1,063 | 1,429 | 1,451 | 1,317 | 1,721 | 1,949 | 1,935 | 1,446 |
| OPM % | 26% | 78% | 10% | 41% | 57% | -62% | 60% | 51% | 46% | 65% | 68% | 66% | 42% |
| Other Income | 1 | 95 | 7 | -10,250 | -1,855 | 249 | 121 | 58 | 269 | 129 | 11 | 96 | 1,377 |
| Interest | 48 | 890 | 834 | 848 | 928 | 999 | 1,305 | 1,364 | 1,417 | 1,492 | 1,567 | 1,646 | 1,674 |
| Depreciation | 19 | 18 | 22 | 37 | 38 | 45 | 55 | 54 | 53 | 57 | 144 | 57 | 645 |
| PBT | 448 | 492 | -668 | -10,461 | -1,862 | -1,858 | 190 | 91 | 116 | 301 | 249 | 328 | 505 |
| Tax % | 30% | 25% | -523% | -14% | -31% | -60% | 14% | 57% | 12% | 8% | -31% | -22% | 1% |
| Net Profit | 314 | 370 | 2,824 | -8,982 | -1,282 | -752 | 163 | 39 | 102 | 276 | 327 | 401 | 502 |
| EPS in Rs | 10.02 | 0.17 | 1.32 | -4.2 | -0.6 | -0.32 | 0.07 | 0.02 | 0.04 | 0.11 | 14.42 | 17.69 | 22.14 |
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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 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 |
| Expenses | 968 | 1,196 | 1,477 | 1,413 | 4,496 | 21,824 | 28,621 | 1,859 | 5,660 | 4,915 | 4,608 | 4,801 |
| 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 |
| OPM % | 85% | 85% | 87% | 87% | 65% | -128% | -226% | 69% | 15% | 27% | 56% | 60% |
| Other Income | 2 | 4 | 6 | 41 | -22 | 19 | 32 | -62 | -10,210 | -1,618 | 373 | 1,563 |
| Interest | 4,460 | 5,492 | 6,674 | 7,744 | 9,417 | 5,736 | 218 | 3,337 | 3,470 | 3,659 | 5,282 | 6,379 |
| Depreciation | 27 | 30 | 43 | 28 | 51 | 79 | 81 | 52 | 97 | 152 | 214 | 903 |
| PBT | 966 | 1,121 | 3,276 | 1,706 | -1,104 | -18,063 | -20,117 | 728 | -12,794 | -3,616 | 645 | 1,383 |
| 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 |
| 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 |
| 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.
3
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.
5
Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Outcome
27 Apr - Audio recording of 27 April 2026 conference call on audited FY26 results available online. 27 Apr - Audio recording of 27 April 2026 conference call on audited FY26 results available online.
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 ₹47668.05 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 39.20. 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 ₹2,175. 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 0.52%. Dividend yield indicates the annual dividend income relative to the share price. A consistent dividend history can signal financial stability.
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.