Major Non-Banking Financial Company (NBFC) that operates across various sectors, including such as retail lending, wholesale lending, life insurance, and Fund management division. Jumped over 4% after declaring stellar results.
With a market capitalization of Rs. 20,642 Cr, the share of Piramal Enterprises jumped over 4% from Monday’s close of Rs. 914 and opening of Rs947.
Q3FY25 Results
The company has transitioned from a loss of Rs. 2377 Cr in Q3FY24 to a profit of Rs. 38.56 Cr in Q3FY25. On a QoQ, however, their profits fell by 76.33% from Rs.162.97 Cr. GNPA stood at 2.8% compared to 2.4% and NNPA stood at 1.5% compared to 1.1% for the same period.
NII (Net Interest Income) grew by 13% from 835 Cr to 940 Crores YoY. On QoQ, their NII grew 7% from 881 Cr.
Operational Highlights
Total AUM went up by 16% YoY to Rs 78,362 Cr of which retail AUM stands at Rs 59,093 Cr. NIM (Net Interest Margin) for Q3FY25 stood at 5.7% compared to 4.9% for Q2FY25 and Credit cost was 2.3% compared to 1.8% for the same period.
Housing loans grew by 25% from 20,275 Cr in Q3FY24 to 25,287 Cr in Q3FY25, LAP (loan against property) grew by 58% to Rs. 14,740 Cr, and Used car loans grew by a staggering 119% to Rs 3,530 Cr for the same period
Business loans grew by 37% from Rs. 3,840 Cr in Q3FY24 to Rs. 5,271 Cr in Q3FY25, Salaried personal loans grew by 111% from Rs 2,363 Cr to Rs. 4,997 Cr and Digital loans saw a degrowth of -25% from Rs. 3,781 Cr to Rs. 2,852 Cr
The company has 514 branches across 607 districts and 26 states and the customers acquired through branches represent 91% of total retail AUM.
PEL-PCHFL Merger
On 23rd Dec, RBI advised PCHFL to change the name to Piramal Finance Ltd. and submit the new certificate of incorporation and MoA indicating the new name and the intended business as NBFC-ICC. The application for the name change is being processed with ROC.
Share Price Movement
The stock opened at Rs. 947 and later hit an intra-day high of 984. Stock is 25% down from its 52-week high of Rs 1269. The past month’s return for the stock is -13% and the 6-month return stands at – 7%.
About the company
Piramal Enterprises Limited (PEL), erstwhile Piramal Healthcare Limited, is the flagship company of the Piramal Group, led by Ajay Piramal. Established in the 1980s, the Group is one of India’s powerhouse conglomerates with a track record of establishing successful businesses in varied industries. With a history of successful organic and inorganic growth ventures, the Piramal Group today has a global presence across 30 countries.
Written by Abhishek Das
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