Investor Presentation
Awaiting price reaction for this filing.
Piramal Enterprises reported Q1 FY26 consolidated AUM of ₹85,756 Cr, up 22% YoY and 6% QoQ, led by retail lending which grew 37% YoY to ₹69,005 Cr (now 80% of consolidated AUM). Consolidated PAT rose 52% YoY to ₹276 Cr, while Growth business PBT jumped 44% YoY to ₹295 Cr. Net Interest Margin expanded to 5.9% from 4.9% a year ago, with growth-business opex-to-AUM improving 230 bps over the last nine quarters to 3.9%. Asset quality stayed stable — retail 90+ DPD at 0.8% and Wholesale 2.0 at zero delinquencies — and credit cost eased to 1.4% from 1.8%. Legacy AUM is down 85% since March 2022 to ₹6,327 Cr, and the company reaffirmed its FY26 targets, with the PEL–PFL merger expected to complete by September 2025.
The strong YoY PAT growth, expanding margins, and stable asset quality signal improving profitability for shareholders. The pending PEL–PFL merger completion in Q2 FY26 could further simplify the group structure and lift capital adequacy by about 245 bps.