Piramal Enterprises Limited has informed the Exchange about General Updates - Financial Results
Awaiting price reaction for this filing.
Piramal Enterprises reported audited FY25 standalone results with profit after tax of ₹503.73 Cr, up modestly from ₹474.05 Cr in FY24, translating to EPS of ₹22.35 (vs ₹20.50). Total revenue from operations fell sharply to ₹2,138.36 Cr from ₹3,734.30 Cr last year because FY24 included large one-time gains from the sale of its Shriram associates (₹1,725+ Cr). Q4 FY25 alone posted a loss of ₹(23.33) Cr versus a ₹183.30 Cr profit in the preceding quarter. The Board recommended a final dividend of ₹11 per share (550% on face value of ₹2). Auditors gave an unmodified opinion but flagged two emphasis-of-matter items: (1) the conversion of subsidiary Piramal Finance Limited from an HFC to NBFC-ICC, completed on April 4, 2025, and (2) deferred tax assets recognized on unadjusted tax losses that depend on future profitability. PFL received RBI approval for the conversion and the composite scheme of arrangement, with ₹600 Cr infused into PFL via a rights issue during the quarter.
Core earnings remain steady and the healthy 550% dividend signals management confidence, but the sharp drop in revenue reflects the absence of last year's one-off Shriram divestment gains rather than an underlying slowdown. The emphasis on deferred tax recoverability and the HFC-to-NBFC transition are worth monitoring, though neither triggered a qualified opinion. Net NPA at 0.93% and debt-equity at 0.45x indicate balance sheet stability.