Piramal Enterprises Ltd

Piramal Enterprises Ltd

₹ 933 1.13%
22 Feb 1:31 p.m.
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 20,957 Cr.
  • Current Price 933
  • High / Low 1,140 / 630
  • Stock P/E 13.8
  • Book Value 1,278
  • Dividend Yield 3.34 %
  • ROCE 2.21 %
  • ROE 5.72 %
  • Face Value 2.00

Pros

  • Stock is trading at 0.72 times its book value
  • Stock is providing a good dividend yield of 3.35%.
  • Company has been maintaining a healthy dividend payout of 34.8%

Cons

  • Company has low interest coverage ratio.
  • The company has delivered a poor sales growth of -3.32% over past five years.
  • Tax rate seems low
  • Company has a low return on equity of 4.96% over last 3 years.
  • Working capital days have increased from 15.3 days to 87.4 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

Consolidated Figures in Rs. Crores / View Standalone

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 3,169 3,402 2,909 1,574 3,816 4,163 2,160 1,894 2,811 2,132 2,878 2,193 2,476
Interest 1,012 936 985 911 1,294 1,237 1,044 1,000 959 991 1,035 1,039 1,103
1,278 1,624 1,359 130 1,646 2,987 579 3,783 1,818 1,318 1,165 1,075 1,270
Financing Profit 879 841 565 533 876 -61 538 -2,890 34 -178 677 79 103
Financing Margin % 28% 25% 19% 34% 23% -1% 25% -153% 1% -8% 24% 4% 4%
263 270 253 6 434 426 7,787 687 110 24 42 18 -3,396
Depreciation 142 145 149 14 173 190 25 27 30 41 37 38 41
Profit before tax 1,001 966 669 525 1,137 174 8,301 -2,230 113 -194 682 59 -3,335
Tax % 20% 153% 20% 19% 22% 14% 2% 31% -3,024% -1% 25% 18% 29%
799 -510 534 426 888 151 8,155 -1,536 3,545 -196 509 48 -2,378
EPS in Rs 34.58 -25.33 22.60 17.56 35.82 4.59 341.66 -64.36 148.53 -8.21 21.31 2.14 -105.83
Gross NPA % 3.40% 4.10% 4.30% 3.70% 3.30% 3.40% 3.70% 3.70% 4.01% 3.76% 2.79% 2.74% 2.41%
Net NPA % 1.70% 2.10% 2.20% 1.80% 1.80% 1.60% 1.80% 1.30% 1.69% 1.93% 1.47% 1.48% 1.11%
Raw PDF

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

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 2,159 3,520 4,503 5,123 6,342 8,504 10,631 11,883 13,068 12,809 7,726 8,981 9,679
Interest 215 575 1,050 511 959 2,031 2,978 4,100 5,321 4,209 4,225 3,994 4,168
2,160 3,086 3,855 4,233 4,751 4,997 5,471 5,264 6,801 5,338 1,984 7,434 4,829
Financing Profit -216 -141 -402 379 631 1,475 2,182 2,519 947 3,263 1,516 -2,447 681
Financing Margin % -10% -4% -9% 7% 10% 17% 21% 21% 7% 25% 20% -27% 7%
467 158 214 2,946 579 217 260 198 1,555 754 963 8,560 -3,312
Depreciation 129 210 247 290 255 382 477 401 520 561 74 123 157
Profit before tax 121 -193 -435 3,035 954 1,310 1,964 2,316 1,982 3,456 2,405 5,991 -2,788
Tax % 5% -13% -14% 11% 5% 17% -146% 37% 99% 59% 17% -66%
115 -222 -501 2,850 905 1,252 5,120 1,464 21 1,413 1,999 9,969 -2,016
EPS in Rs 5.47 -11.14 -24.58 139.70 44.35 61.39 250.81 70.26 1.07 59.08 80.57 417.62 -90.59
Dividend Payout % 271% -133% -181% 12% 33% 29% 9% 35% 1,314% 56% 41% 7%
Compounded Sales Growth
10 Years: 10%
5 Years: -3%
3 Years: -12%
TTM: -12%
Compounded Profit Growth
10 Years: 27%
5 Years: -18%
3 Years: 473%
TTM: -36%
Stock Price CAGR
10 Years: 12%
5 Years: -7%
3 Years: -4%
1 Year: 14%
Return on Equity
10 Years: 6%
5 Years: 4%
3 Years: 5%
Last Year: 6%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

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 11,208 10,689 9,287 11,701 12,914 14,848 26,526 27,187 30,526 33,973 35,441 31,011 28,665
Preference Capital -0 -0 -0 -0 -0 -0 -0 -0 71 -0 -0 -0
2,047 7,688 9,552 7,306 16,279 30,451 44,161 56,037 42,168 39,557 55,539 49,583 49,810
1,408 1,832 2,622 1,891 1,722 2,875 2,048 2,333 2,161 3,321 8,652 3,110 3,125
Total Liabilities 14,697 20,244 21,495 20,933 30,949 48,209 72,771 85,594 74,900 76,896 99,681 83,752 81,645
1,828 5,709 6,191 7,065 7,525 9,973 10,726 11,197 6,415 7,860 9,133 3,263 3,037
CWIP 261 372 491 277 355 880 647 494 517 636 1,188 6 0
Investments 6,964 7,877 9,446 7,768 16,317 25,181 28,842 25,747 19,443 22,029 24,857 22,332 18,033
5,644 6,285 5,367 5,823 6,752 12,176 32,556 48,156 48,525 46,371 64,503 58,151 60,574
Total Assets 14,697 20,244 21,495 20,933 30,949 48,209 72,771 85,594 74,900 76,896 99,681 83,752 81,645

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
-685 -1,570 -1,604 -2,207 -6,956 -10,057 -15,967 -11,611 7,516 3,665 8,443 1,359
-1,581 -1,495 1,535 6,193 -594 -2,376 -1,747 -820 7,491 -2,766 -967 -590
640 3,281 126 -3,865 7,544 13,570 18,650 10,752 -13,019 2,072 -6,774 -3,325
Net Cash Flow -1,626 216 57 122 -7 1,138 936 -1,679 1,988 2,970 702 -2,555

Ratios

Consolidated Figures in Rs. Crores / View Standalone

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% -5% 4% 7% 9% 25% 7% 0% 4% 5% 6%

Shareholding Pattern

Numbers in percentages

1 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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Documents

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