Investor Presentation (Revised)
Awaiting price reaction for this filing.
Piramal Enterprises reported FY25 consolidated AUM of INR 80,689 Cr, up 17% YoY, with the retail-to-wholesale mix improving to 80:20 from 70:30 last year. Retail AUM grew 35% YoY to INR 64,652 Cr across 517 branches, while Wholesale 2.0 AUM rose 44% YoY to INR 9,117 Cr. The company swung to a consolidated PAT of INR 485 Cr in FY25 from a loss of INR 1,684 Cr in FY24, with Q4 FY25 PAT at INR 102 Cr. Legacy book shrank to INR 6,920 Cr (down 53% YoY, just 9% of total AUM). The firm raised USD 815 million from global markets in FY25, holds INR 10,084 Cr in cash and liquid investments, and has 23.6% capital adequacy. Management guided FY26 total AUM growth of ~25% YoY to around INR 100,000 Cr and consolidated PAT of INR 1,300-1,500 Cr. RBI has approved the PEL-Piramal Finance merger, expected by September 2025.
Sharp turnaround from loss to profit, strong AUM growth, falling legacy book, and clear FY26 guidance are positives for shareholders. Completion of the PEL-PFL merger should simplify the group structure and provide direct access to the lending business.