Piramal Enterprises Ltd

Piramal Enterprises Ltd

₹ 841 0.44%
18 Apr - close price
About

Piramal Enterprises Limited (PEL) is one of India’s leading diversified non-banking financial companies (NBFC) with assets worth ~$10 billion, with a network of over 400 branches across 26 states/Union Territories, offering a wide range of financial products and solutions across retail and wholesale lending, fund-based platforms and investments.[1]

Key Points

Promoters[1]
PEL is the holding company of the Piramal Group headed by the Chairman, Ajay Piramal. The promoter group has presence in diversified businesses like financial services through PEL, pharma (CDMO, Critical Care, OTC) through Piramal Pharma Ltd (PPL), and real estate development and consulting (through a separate company).

  • Market Cap 18,899 Cr.
  • Current Price 841
  • High / Low 1,140 / 706
  • Stock P/E 16.6
  • Book Value 967
  • Dividend Yield 3.69 %
  • ROCE 9.54 %
  • ROE 10.1 %
  • Face Value 2.00

Pros

  • Stock is trading at 0.87 times its book value
  • Stock is providing a good dividend yield of 3.69%.
  • Company is expected to give good quarter
  • Company has been maintaining a healthy dividend payout of 650%

Cons

  • Tax rate seems low
  • Company has a low return on equity of 4.95% over last 3 years.
  • Working capital days have increased from 75.6 days to 220 days

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Sector: Finance Industry: Finance & Investments

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023
Revenue 563 494 513 595 624 574 528 314 3,763 181 1,150 527 636
Interest 254 181 183 338 207 168 230 150 165 167 201 151 188
223 199 301 76 297 341 193 830 650 31 226 374 269
Financing Profit 86 114 28 181 119 65 105 -666 2,948 -17 723 2 179
Financing Margin % 15% 23% 5% 30% 19% 11% 20% -212% 78% -9% 63% 0% 28%
-236 23 36 10 79 302 11,472 473 11 9 8 7 -1,614
Depreciation 9 7 5 6 6 6 6 7 8 2 2 3 2
Profit before tax -158 129 59 185 192 361 11,571 -200 2,951 -10 729 7 -1,437
Tax % -4% 39% 10% 19% 12% 12% 0% 75% 2% -443% 21% 55% 26%
-165 79 53 150 169 316 11,549 -51 2,892 -57 577 3 -1,060
EPS in Rs -7.30 3.49 2.23 6.29 7.06 13.25 483.81 -2.12 121.16 -2.38 24.17 0.13 -47.16
Gross NPA % 4.92%
Net NPA % 1.33%
Raw PDF

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 TTM
Revenue 1,153 1,401 1,991 2,401 3,384 3,766 3,289 3,671 2,013 1,825 2,719 4,794 2,494
Interest 200 420 813 307 787 1,178 990 1,497 1,710 1,069 1,243 712 707
1,349 1,529 1,716 1,953 2,074 1,930 2,072 1,998 650 630 377 1,704 900
Financing Profit -396 -548 -538 141 523 657 228 176 -347 126 1,098 2,379 888
Financing Margin % -34% -39% -27% 6% 15% 17% 7% 5% -17% 7% 40% 50% 36%
593 378 244 594 540 357 637 -842 925 -3 135 11,955 -1,590
Depreciation 76 78 76 89 80 94 112 131 42 33 22 23 9
Profit before tax 121 -248 -370 646 984 920 753 -798 535 91 1,211 14,311 -712
Tax % -8% 7% 0% 42% -1% 16% 31% -9% 73% 56% 18% -0%
131 -232 -370 373 996 777 518 -868 145 40 998 14,333 -536
EPS in Rs 6.41 -11.35 -18.14 18.27 48.81 38.08 25.39 -41.57 6.42 1.77 41.80 600.47 -25.24
Dividend Payout % 231% -130% -245% 93% 30% 47% 87% -60% 218% 1,865% 79% 5%
Compounded Sales Growth
10 Years: 13%
5 Years: 8%
3 Years: 34%
TTM: -52%
Compounded Profit Growth
10 Years: 29%
5 Years: 36%
3 Years: 166%
TTM: -64%
Stock Price CAGR
10 Years: 10%
5 Years: -11%
3 Years: -4%
1 Year: 17%
Return on Equity
10 Years: 3%
5 Years: 4%
3 Years: 5%
Last Year: 10%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Sep 2023
Equity Capital 35 35 35 35 35 35 36 37 45 45 48 48 45
Reserves 11,106 10,521 9,093 11,412 12,766 14,388 21,301 19,455 22,583 23,139 24,038 23,987 21,672
Preference Capital 0 0 0 0 0 0 0 0 0 0 5,319 4,322
1,327 4,646 5,893 3,862 13,560 10,255 14,600 17,488 10,618 6,693 3,061 4,393 7,919
1,276 1,141 1,908 1,124 757 797 795 1,009 1,230 821 6,185 4,676 503
Total Liabilities 13,744 16,342 16,929 16,433 27,117 25,475 36,732 37,988 34,476 30,698 33,331 33,104 30,139
760 773 780 756 954 1,075 1,807 1,824 1,789 1,389 1,434 1,365 1,371
CWIP 167 166 162 61 103 602 112 98 119 1 3 3 0
Investments 7,110 9,623 11,586 10,223 18,054 17,274 23,731 23,014 19,439 19,825 18,393 17,436 13,180
5,707 5,780 4,400 5,392 8,006 6,524 11,083 13,053 13,128 9,483 13,501 14,300 15,587
Total Assets 13,744 16,342 16,929 16,433 27,117 25,475 36,732 37,988 34,476 30,698 33,331 33,104 30,139

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
-755 -1,752 -1,749 -3,369 -7,131 -6,348 -4,910 6,747 1,134 2,257 3,106 917
-1,312 -791 1,668 6,771 -1,440 -2,424 -4,403 -9,329 1,887 2,679 -27 -45
413 2,552 87 -3,398 8,556 8,887 9,690 2,069 -4,544 -2,466 -3,011 -603
Net Cash Flow -1,654 9 6 4 -15 115 376 -513 -1,523 2,470 68 268

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
ROE % 1% -2% -3% 2% 8% 6% 3% 2% 1% 1% 4% 10%

Shareholding Pattern

Numbers in percentages

4 Recently
Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023
46.06% 43.52% 43.51% 43.49% 43.49% 43.49% 43.48% 43.48% 43.48% 43.48% 46.20% 46.20%
29.07% 33.27% 34.97% 35.31% 35.03% 34.54% 32.05% 31.25% 28.67% 26.04% 19.69% 17.19%
10.54% 9.81% 8.42% 8.19% 8.44% 8.13% 7.85% 8.05% 9.59% 11.92% 12.06% 13.02%
13.60% 12.77% 12.58% 12.53% 12.65% 13.47% 16.10% 16.71% 17.75% 18.06% 21.56% 23.09%
0.73% 0.63% 0.52% 0.47% 0.39% 0.36% 0.50% 0.49% 0.49% 0.49% 0.50% 0.50%
No. of Shareholders 1,31,7131,28,5481,34,7371,53,9601,68,2511,84,2702,59,6352,65,2132,68,9462,82,9322,95,1093,14,913

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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