Piramal Finance Limited has informed the Exchange regarding a press release dated January 05, 2026, titled "CRISIL Ratings Assigns Long-Term Rating of AA+/Stable to Piramal Finance Limited".
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CRISIL Ratings has assigned a long-term rating of AA+/Stable to Piramal Finance's Non-Convertible Debentures and Bank Debt, upgrading it from the existing AA/Stable ratings held with ICRA and CARE. The rating reflects improved asset quality, a granular retail loan book, stronger profitability, robust capitalisation, and a conservative liquidity position, supported by strong promoter backing. The company has total outstanding borrowings of around ₹75,000 crore, raised nearly ₹21,000 crore in long-term funding in FY25, and grew its AUM (excluding legacy) at a 40% CAGR over four years to about ₹86,000 crore, with total AUM at ₹91,000 crore. Management aims to scale AUM beyond ₹1.5 lakh crore by FY28, and the higher rating is expected to expand its addressable long-term funding market. Commercial Paper rating was reaffirmed at A1+.
This rating upgrade to AA+/Stable should lower Piramal Finance's borrowing costs and broaden its investor base, supporting growth plans. For shareholders, it signals stronger credit quality and improved investor confidence in the NBFC's fundamentals.