Piramal Finance Ltd
Piramal Finance Ltd
Financial ServicesKey Fundamentals
MidcapFinanceFinancial ServicesInsights
BetaAI-extracted from concalls & annual reports · figures as reported, with sources
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46 extracted metrics + investor summaries across FY14–FY26.
Tapetide Score
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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
AI Analysis — Bull vs Bear
Piramal Finance Ltd trades at a market cap of ₹46,818 Cr with a P/E of 27.8x and P/B of 1.67x. The company shows strong recent revenue growth (TTM sales up 18%) but profitability remains challenged with a 3-year average ROE of just 1% and a TTM profit decline of -23%.
- TTM revenue growth of 18% indicates accelerating business momentum after a modest 6% CAGR over 5 years
- 3-year compounded sales growth of 21% demonstrates sustained top-line expansion in recent periods
- 5-year stock CAGR of 162% reflects significant market re-rating and value creation over the medium term
- 10-year stock CAGR of 23% suggests long-term compounding despite business volatility
- P/B ratio of 1.67x is relatively modest for a financial services company with improving revenue trajectory
- 5-year compounded profit growth of 15% suggests the business has delivered earnings expansion over a longer horizon despite near-term volatility
- Market cap of ₹46,818 Cr provides scale and liquidity advantages for institutional participation
- 3-year ROE of just 1% (and 0.55% as flagged) indicates extremely poor capital efficiency for a financial services firm
- TTM profit has declined -23%, showing deteriorating bottom-line performance in the most recent period
- 3-year compounded profit CAGR of -56% reflects a severe earnings collapse over the medium term
- Low interest coverage ratio raises concerns about the company's ability to service its debt obligations
- Working capital days have deteriorated sharply from -7.71 days to 83.6 days, indicating significant pressure on cash conversion
- Dividend payout of only 5.51% of profits over 3 years offers minimal income return to shareholders with dividend yield at just 0.53%
- 10-year compounded profit CAGR of -11% shows a long-term structural inability to grow earnings sustainably
- P/E of 27.8x appears elevated given the weak profitability metrics and negative recent earnings trajectory
This is AI-generated analysis, not financial advice. Do your own due diligence.
AI News Digest
- Seeks ₹4,000 crore capital raise Jul 17
Piramal Finance initiated postal ballot to raise up to ₹4,000 crore through various modes. E-voting window runs July 19 to August 17, 2026, signaling growth capital intent.
- Analyst meeting in Varanasi Aug 14
Piramal Finance scheduled an investor/analyst meeting with branch visit in Varanasi on August 20, 2026. Disclosed under SEBI Listing Regulations.
TL;DR: Piramal Finance is in a capital-raising mode, seeking shareholder approval for up to ₹4,000 crore which signals confidence in growth opportunities ahead. No visible headwinds from recent news flow. The investor outreach via branch visits suggests management is actively engaging the Street. Outlook is stable with a mild positive tilt depending on capital deployment clarity.
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
Frequently Asked Questions about Piramal Finance Ltd
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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.