Pioneer Investcorp Ltd

₹ 81.1 -3.55%

10 Jul - close price

About

Incorporated in 1984, Pioneer Investcorp Ltd
is in the business of providing Financial Services

Key Points

Business Overview:^[1]
Company is a SEBI registered Category–I Merchant Banker and an integrated mid-market focused financial services company. It provides Investment Banking and Financial Advisory Services which includes formulating capital structure, raising capital, debt restructuring, project financing, coal consultancy and other corporate advisory services. Apart from this, company also deals in Secondary capital market like open offer in Takeovers, Right issue, Buyback, Mergers and Amalgamation, and valuation assignments, Government securities (G-Sec & SDL) and corporate bonds

Website BSE NSE

Market Cap ₹ 99.7 Cr.
Current Price ₹ 81.1
High / Low ₹ 136 / 55.0
Stock P/E 6.27
Book Value ₹ 140
Dividend Yield 0.00 %
ROCE 11.0 %
ROE 9.71 %
Face Value ₹ 10.0

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Pros

Company has reduced debt.
Stock is trading at 0.58 times its book value
Company has delivered good profit growth of 78.4% CAGR over last 5 years

Cons

Though the company is reporting repeated profits, it is not paying out dividend
The company has delivered a poor sales growth of 8.51% over past five years.
Company has a low return on equity of 6.07% over last 3 years.
Promoters have pledged 43.5% of their holding.
Earnings include an other income of Rs.12.8 Cr.
Company has high debtors of 928 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

Financial Services Financial Services Finance Other Financial Services

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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
	9.66	8.35	7.34	8.43	11.45	8.64	8.00	9.66	9.91	15.31	15.57	11.93	3.90
	5.59	5.26	5.07	5.47	8.63	5.10	7.06	5.57	7.96	8.43	7.72	4.59	7.15
Operating Profit	4.07	3.09	2.27	2.96	2.82	3.54	0.94	4.09	1.95	6.88	7.85	7.34	-3.25
OPM %	42.13%	37.01%	30.93%	35.11%	24.63%	40.97%	11.75%	42.34%	19.68%	44.94%	50.42%	61.53%	-83.33%
	0.14	0.11	0.02	0.21	6.88	2.67	3.87	0.82	7.07	1.72	0.82	1.49	9.73
Interest	2.39	2.32	1.82	2.50	4.01	2.26	4.10	3.01	3.83	4.02	2.39	2.23	3.69
Depreciation	0.15	0.25	0.26	0.27	0.28	0.24	0.23	0.20	0.39	0.17	0.17	0.25	0.26
Profit before tax	1.67	0.63	0.21	0.40	5.41	3.71	0.48	1.70	4.80	4.41	6.11	6.35	2.53
Tax %	84.43%	49.21%	47.62%	27.50%	38.45%	11.32%	41.67%	12.35%	40.83%	18.14%	20.79%	9.29%	33.60%
	0.27	0.32	0.11	0.30	3.34	3.29	0.28	1.49	2.84	3.61	4.85	5.76	1.69
EPS in Rs	0.22	0.26	0.09	0.24	2.72	2.68	0.23	1.21	2.31	2.94	3.94	4.68	1.37
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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
	34	25	63	40	38	43	31	36	32	41	47	47
	17	18	24	31	28	26	19	20	21	24	24	27
Operating Profit	17	8	39	9	10	17	12	16	11	17	23	20
OPM %	50%	31%	62%	23%	27%	39%	40%	44%	34%	40%	49%	42%
	0	0	0	0	0	0	0	0	0	2	3	13
Interest	9	8	13	7	8	11	8	10	7	11	14	12
Depreciation	1	1	1	1	1	1	1	1	1	1	1	1
Profit before tax	8	-1	25	1	2	5	3	5	4	7	11	19
Tax %	18%	-35%	30%	74%	-4%	38%	68%	25%	43%	39%	26%	18%
	6	-1	18	0	2	3	1	4	2	4	8	16
EPS in Rs	5.04	-0.69	14.48	0.26	1.57	2.53	0.72	3.03	1.68	3.31	6.42	12.94
Dividend Payout %	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%

Compounded Sales Growth
10 Years:	6%
5 Years:	9%
3 Years:	13%
TTM:	0%

Compounded Profit Growth
10 Years:	35%
5 Years:	78%
3 Years:	98%
TTM:	102%

Stock Price CAGR
10 Years:	13%
5 Years:	18%
3 Years:	37%
1 Year:	39%

Return on Equity
10 Years:	4%
5 Years:	5%
3 Years:	6%
Last Year:	10%

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	13	13	13	13	13	13	13	13	13	13	13	13
Reserves	96	96	113	110	112	117	119	124	126	135	143	159
	66	34	50	46	73	42	103	51	84	108	143	109
	18	8	20	10	9	9	8	16	24	149	150	136
Total Liabilities	193	151	197	179	207	182	243	205	248	406	449	417
	3	2	3	4	5	6	5	5	4	5	5	8
CWIP	0	0	0	0	0	0	0	0	0	0	0	0
Investments	7	4	15	16	17	16	16	18	18	119	122	127
	183	145	179	158	186	160	222	182	226	282	322	282
Total Assets	193	151	197	179	207	182	243	205	248	406	449	417

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	Mar 2026
	10	29	10	17	-12	32	-55	68	-30	-23	-25	68
	1	5	-11	-1	-1	6	1	-2	1	6	5	-25
	-7	-40	3	-12	20	-43	52	-62	26	11	21	-46
Net Cash Flow	4	-6	1	4	7	-5	-2	5	-2	-6	1	-3
Free Cash Flow	10	29	9	15	-12	30	-55	67	-30	-24	-25	64
CFO/OP	63%	387%	48%	189%	-103%	194%	-438%	437%	-258%	-132%	-98%	358%

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	1,131	1,350	569	925	1,027	1,130	1,397	1,044	1,660	1,240	1,043	928
Inventory Days
Days Payable
Cash Conversion Cycle	1,131	1,350	569	925	1,027	1,130	1,397	1,044	1,660	1,240	1,043	928
Working Capital Days	824	1,182	559	801	929	1,142	2,347	1,488	2,113	686	838	448
ROCE %	10%	5%	24%	5%	5%	8%	6%	7%	5%	7%	9%	11%

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

Brokerage Income
Rs. lakhs

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Investment Banking & Advisory Fees
Rs. lakhs

Stock in Trade (Securities Inventory)
Rs. lakhs

Total Transaction Volume (G-Sec, SDL & Corporate Bonds)
Rs. crore

Average Cash Credit Limit Utilization
%

Extracted by Screener AI

Shareholding Pattern

Numbers in percentages

2 Recently

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026
	64.80%	64.80%	64.80%	64.80%	64.80%	64.80%	64.80%	64.80%	64.80%	65.34%	65.46%	65.46%
	3.79%	3.79%	3.79%	3.79%	3.79%	3.79%	3.59%	2.99%	2.99%	2.99%	2.99%	2.99%
	0.22%	0.22%	0.22%	0.22%	0.22%	0.22%	0.22%	0.22%	0.22%	0.22%	0.22%	0.22%
	31.19%	31.19%	31.18%	31.19%	31.18%	31.19%	31.40%	32.01%	31.99%	31.46%	31.33%	31.34%
No. of Shareholders	4,094	4,116	4,086	4,093	4,118	4,112	4,811	4,932	4,853	4,895	4,732	4,608

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	56.51%	56.51%	60.85%	61.93%	64.80%	64.80%	64.80%	64.80%	64.80%	65.46%
	3.79%	3.79%	3.79%	3.79%	3.79%	3.79%	3.79%	3.79%	2.99%	2.99%
	0.22%	0.22%	0.22%	0.22%	0.22%	0.22%	0.22%	0.22%	0.22%	0.22%
	39.48%	39.48%	35.14%	34.06%	31.18%	31.18%	31.18%	31.19%	32.01%	31.34%
No. of Shareholders	5,451	4,855	4,575	4,149	3,940	3,984	4,078	4,093	4,932	4,608

* 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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Pioneer Investcorp Ltd

Pioneer Investcorp Ltd

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Cash Flows

Ratios

Insights

Shareholding Pattern

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