Piramal Enterprises Ltd
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]
- Market Cap ₹ 19,082 Cr.
- Current Price ₹ 849
- High / Low ₹ 1,140 / 666
- Stock P/E 16.7
- Book Value ₹ 967
- Dividend Yield 3.65 %
- ROCE 9.54 %
- ROE 10.1 %
- Face Value ₹ 2.00
Pros
- Stock is trading at 0.88 times its book value
- Stock is providing a good dividend yield of 3.65%.
- 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
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
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 | |
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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 | |
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10 Years: | 29% |
5 Years: | 36% |
3 Years: | 166% |
TTM: | -64% |
Stock Price CAGR | |
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10 Years: | 11% |
5 Years: | -11% |
3 Years: | -5% |
1 Year: | 28% |
Return on Equity | |
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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 | |
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-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% |
Documents
Announcements
- Compliances-Reg. 39 (3) - Details of Loss of Certificate / Duplicate Certificate 4m
- Intimation Under Regulation 30 And 51 Of SEBI (LODR) Regulations, 2015, As Amended 2d
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Announcement under Regulation 30 (LODR)-Acquisition
2d - Intimation under Regulation 30 and 51 of the SEBI (LODR) Regulations, 2015, as amended
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Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation
18 Mar - Of Schedule of Analyst/ Institutional Investor Meetings under the SEBI (LODR) Regulations, 2015
- Compliances-Reg. 39 (3) - Details of Loss of Certificate / Duplicate Certificate 16 Mar
Annual reports
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Financial Year 2023
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Financial Year 2022
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Financial Year 2021
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Financial Year 2020
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Financial Year 2019
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Financial Year 2018
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Financial Year 2017
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Financial Year 2016
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Financial Year 2015
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Financial Year 2014
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Financial Year 2013
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Financial Year 2012
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Financial Year 2012
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Financial Year 2011
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Financial Year 2011
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Concalls
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Feb 2024Transcript PPT
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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).