Investor Presentation
Awaiting price reaction for this filing.
Piramal Enterprises shared its July 2025 investor presentation detailing FY25 performance and FY26 outlook. FY25 consolidated AUM stood at INR 80,689 Cr (12% CAGR over FY23-25) with consolidated PAT of INR 485 Cr and Growth Business PBT of INR 896 Cr. Growth Business AUM grew 45% CAGR to INR 73,769 Cr, driven by retail AUM of INR 64,652 Cr (+35% YoY) and Wholesale 2.0 AUM of INR 9,117 Cr. Asset quality remained strong with GNPA at 2.8%, NNPA at 1.9%, Retail 90+ DPD at 0.8%, and nil delinquencies in Wholesale 2.0. Net worth stood at INR 27,096 Cr with CRAR of 23.6% and domestic credit rating of AA/Stable. Management guided FY26E total AUM growth of ~25% YoY (~INR 100k Cr), consolidated PAT of INR 1,300-1,500 Cr, and retail share rising to 80-85% of AUM. The proposed merger of PEL with Piramal Finance Ltd is targeted for completion by Q3FY26.
The presentation signals a sharp recovery story — FY26E PAT guidance of INR 1,300-1,500 Cr is roughly 3x FY25 levels, reflecting margin expansion as legacy book shrinks and growth business scales. The pending merger with PFL should simplify the structure and give shareholders direct exposure to the lending franchise, which is a positive structural catalyst.