Pilani Investment & Industries Corporation Ltd

₹ 4,489 -3.08%

29 May - close price

pilaniinvestment.com BSE: 539883 NSE: PILANIINVS

About

Pilani Investment and Industries Corporation Limited is registered as a non-deposit-taking NBFC with the Reserve Bank of India. It functions as a core investment company with main activity being investment in shares and securities of the Birla group companies and providing finance to them. ^[1]

Key Points

Investments^[1]
The Co holds investments in Equity Shares of various companies like Grasim (3.89% stake), Aditya Birla Real Estate Limited (33.29%), Ultratech (1.50%), Hindalco (1.33%), Aditya Birla Capital Ltd (1.29%), ABLBL (3.67%), ABFRL (3.67%) and VIL (0.17%). The market value of stakes in these companies was around Rs 23,374 crore as on Sept 30, 2025. Investment activities of the company are carried out within India.^[2]

Website BSE NSE

Market Cap ₹ 4,971 Cr.
Current Price ₹ 4,489
High / Low ₹ 5,980 / 4,092
Stock P/E 160
Book Value ₹ 14,334
Dividend Yield 0.33 %
ROCE 1.41 %
ROE 0.20 %
Face Value ₹ 10.0

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Pros

Stock is trading at 0.31 times its book value
Company has been maintaining a healthy dividend payout of 26.8%

Cons

Company has low interest coverage ratio.
The company has delivered a poor sales growth of 7.32% over past five years.
Company has a low return on equity of 0.67% over last 3 years.

* 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

Financial Services Financial Services Finance Holding Company

Part of BSE Financial Services BSE 1000

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Detailed Comparison with:

Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026
	54.13	54.74	106.64	61.66	63.27	61.75	122.83	60.94	56.63	49.69	129.47	59.60	44.10
	2.64	1.93	2.38	4.78	1.08	1.70	1.95	4.52	5.79	3.56	21.22	4.33	3.32
Operating Profit	51.49	52.81	104.26	56.88	62.19	60.05	120.88	56.42	50.84	46.13	108.25	55.27	40.78
OPM %	95.12%	96.47%	97.77%	92.25%	98.29%	97.25%	98.41%	92.58%	89.78%	92.84%	83.61%	92.73%	92.47%
	0.79	0.00	0.00	0.00	0.00	0.00	1.61	0.72	2.60	0.00	0.00	0.27	5.12
Interest	15.69	16.32	17.46	18.77	21.75	19.95	19.50	19.96	28.99	39.93	38.87	42.16	43.67
Depreciation	0.07	0.06	0.06	0.06	0.06	0.05	0.05	0.05	0.09	0.08	0.08	0.08	0.08
Profit before tax	36.52	36.43	86.74	38.05	40.38	40.05	102.94	37.13	24.36	6.12	69.30	13.30	2.15
Tax %	26.10%	25.23%	25.91%	26.60%	25.06%	25.27%	25.35%	27.82%	24.88%	27.94%	27.92%	25.86%	46.98%
	75.08	25.30	54.20	55.52	31.44	32.51	77.70	13.37	-25.09	-4.02	44.71	-14.39	4.75
EPS in Rs	67.81	22.85	48.95	50.14	28.40	29.36	70.18	12.08	-22.66	-3.63	40.38	-13.00	4.29
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Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	32	28	35	30	25	126	199	258	279	286	305	283
	6	6	4	4	3	11	7	7	7	10	14	32
Operating Profit	26	22	31	26	22	115	191	250	272	276	291	250
OPM %	80%	78%	90%	87%	87%	91%	96%	97%	98%	96%	95%	89%
	0	0	0	-2	0	0	1	0	1	0	2	5
Interest	0	0	0	0	19	43	52	59	65	74	88	165
Depreciation	0	0	1	1	0	0	0	0	0	0	0	0
Profit before tax	26	22	30	23	3	72	140	191	208	202	204	91
Tax %	7%	6%	9%	12%	-294%	25%	24%	24%	25%	26%	26%	28%
	-35	10	43	20	2,017	175	97	201	246	166	98	31
EPS in Rs	-31.52	8.79	38.50	120.69	1,817.32	157.61	87.30	181.91	222.11	150.34	88.94	28.05
Dividend Payout %	-57%	203%	46%	15%	1%	11%	17%	8%	7%	10%	17%	53%

Compounded Sales Growth
10 Years:	26%
5 Years:	7%
3 Years:	0%
TTM:	-7%

Compounded Profit Growth
10 Years:	12%
5 Years:	-20%
3 Years:	-50%
TTM:	-68%

Stock Price CAGR
10 Years:	17%
5 Years:	22%
3 Years:	35%
1 Year:	-5%

Return on Equity
10 Years:	4%
5 Years:	1%
3 Years:	1%
Last Year:	0%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

	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	8	8	8	8	8	8	11	11	11	11	11	11
Reserves	1,190	1,172	1,211	5,875	5,100	5,103	9,838	11,091	11,158	14,596	15,969	15,860
	2	2	2	0	245	420	810	1,066	736	949	1,937	2,391
	27	29	3	14	22	115	391	542	511	893	1,400	1,318
Total Liabilities	1,226	1,211	1,224	5,897	5,375	5,646	11,050	12,711	12,416	16,449	19,317	19,581
	3	3	3	5	5	5	4	4	4	4	4	4
CWIP	0	0	0	0	0	0	0	0	0	0	0	0
Investments	1,146	1,191	1,212	5,886	5,363	4,186	9,001	10,376	10,274	14,015	17,386	18,939
	78	17	9	6	7	1,455	2,045	2,331	2,138	2,430	1,927	638
Total Assets	1,226	1,211	1,224	5,897	5,375	5,646	11,050	12,711	12,416	16,449	19,317	19,581

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
	26	26	16	19	17	-1,388	-442	-100	417	-87	650
	-5	-6	8	3	-214	1,283	121	-76	-8	-72	-1,648
	-23	-24	-24	-21	198	108	318	181	-412	196	972
Net Cash Flow	-2	-3	-0	-0	0	4	-3	4	-3	37	-27
Free Cash Flow	26	26	16	19	17	-1,388	-442	-100	417	-87	649
CFO/OP	112%	123%	60%	73%	121%	-1,139%	-204%	-21%	172%	-12%	241%

Ratios

Consolidated Figures in Rs. Crores / View Standalone

	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	6	6	3	3	8	2	1	0	1	0	1	0
Inventory Days
Days Payable
Cash Conversion Cycle	6	6	3	3	8	2	1	0	1	0	1	0
Working Capital Days	424	-351	-20	-48	-294	36	-18	-15	-15	-13	-25	-5
ROCE %	2%	2%	3%	1%	0%	2%	2%	2%	2%	2%	2%	1%

Insights

In beta

Mar 2015

Mar 2016

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Number of Permanent Employees
Count ・Standalone data

x	x	x	x	x	x	x	x	x	x	xx
xx,xxx.xx	xxx,xxx.xx	xxx,xxx.xx	xxx,xxx.xx	xxx,xxx.xx	xxx,xxx.xx	xxx,xxx.xx	x,xxx,xxx.xx	x,xxx,xxx.xx	x,xxx,xxx.xx	x,xxx,xxx.xx
x,xxx.xx	xxx.xx	xxx.xx	xxx.xx	xxx.xx	xxx,xxx.xx	xxx,xxx.xx	xxx,xxx.xx	xxx,xxx.xx	xxx,xxx.xx	xxx,xxx.xx
				x.xx		x.xx	x.xx	x.xx	x.xx	x.xx
						x,xxx	xx,xxx	xx,xxx	xx,xxx

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Total Investments (Carrying/Fair Value)
₹ Lakhs

Total Loan Book
₹ Lakhs ・Standalone data

Adjusted Interest Coverage Ratio
Times

Market Value of Investments in Listed Companies
₹ Crore

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Shareholding Pattern

Numbers in percentages

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026
	57.55%	57.55%	57.55%	57.55%	57.55%	57.55%	57.55%	57.55%	57.95%	58.12%	58.24%	58.68%
	0.53%	0.53%	0.50%	0.47%	0.45%	0.56%	0.35%	0.38%	0.49%	0.43%	0.42%	0.43%
	0.25%	0.26%	0.25%	0.25%	0.25%	0.39%	0.39%	0.40%	0.48%	0.48%	1.36%	1.38%
	41.67%	41.65%	41.70%	41.74%	41.75%	41.51%	41.71%	41.68%	41.08%	40.98%	39.97%	39.52%
No. of Shareholders	12,167	13,626	13,116	13,415	13,897	14,797	19,332	19,447	19,273	18,819	18,709	17,854

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	57.55%	57.55%	57.55%	57.55%	57.55%	57.55%	57.55%	57.55%	57.55%	57.55%	58.68%
	0.00%	0.00%	0.16%	0.12%	0.29%	0.36%	0.38%	0.53%	0.47%	0.38%	0.43%
	0.25%	0.25%	1.36%	1.39%	2.28%	1.23%	0.25%	0.25%	0.25%	0.40%	1.38%
	42.20%	42.20%	40.93%	40.94%	39.88%	40.87%	41.82%	41.67%	41.74%	41.68%	39.52%
No. of Shareholders	5,512	6,288	6,074	6,063	6,181	8,721	13,709	12,588	13,415	19,447	17,854

* 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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Pilani Investment & Industries Corporation Ltd

Pilani Investment & Industries Corporation Ltd

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Cash Flows

Ratios

Insights

Shareholding Pattern

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