Lends to retail and wholesale borrowers as a non-banking financial company that has shifted 98% of its book to growth (retail) lending. The wholesale book is 70:30 between real estate and CMML at an average ticket of Rs 56 crore and yield of 14.2%. Retail disbursements accelerated to Rs 12,527 crore in Q1 FY27, up 44% YoY, with the network covering 780 branches across 607 cities and around 6 million customers. The biggest line in the FY26 cost stack is employee cost at Rs 1,811.24 crore (15.3% of revenue), followed by other opex at Rs 1,268.69 crore and depreciation at Rs 902.8 crore. Capital adequacy stood at 18.85% with debt-to-equity at 2.80; the company is rated AA+ domestically by CRISIL, ICRA and CARE, and BBB/Stable by Japanese agencies. Three group companies are being merged into the lender via an NCLT-filed scheme, and the board has approved a fund raise of up to Rs 4,000 crore. AR · MarketPing reader · 2026-08-03
Revenue streams, as the annual report describes them. Retail/Growth lending (85%), Wholesale lending (15%). Retail-focused upper-layer NBFC with a mortgage-heavy book and a residual wholesale real estate portfolio
| ₹ crore · consolidated | FY26 |
|---|---|
| Revenue | 11,852 |
| EBITDA (ex other income) | 8,296 |
| margin % | 70.0 |
| Owners' profit | 1,504 |
| EPS, as reported (₹) | 66.49 |
| ROE % · ROCE % | 5.3 · — |
| Debt / equity (x) | 0.00 |
| Cash from operations | (15,892) |
| Capex | (116) |
| ₹ crore | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|
| Revenue | 2,872 | 2,918 | 3,424 | 3,368 |
| Profit before tax | 186 | 289 | 496 | 344 |
| Net profit | 327 | 401 | 502 | 461 |
| EPS (₹) | 14.43 | 17.69 | 22.14 | 20.38 |
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| BAJAJ FINANCE LIMITED | 6,43,552 | 31.7 | 5.50 | 11.6 | 16.5 | — | 25.2 | 70.7 |
| SHRIRAM FINANCE LIMITED | 2,42,019 | 18.1 | 3.67 | 6.7 | 15.2 | — | 22.5 | 74.7 |
| CHOLAMANDALAM IN & FIN CO | 1,57,446 | 27.2 | 5.17 | 6.9 | 17.2 | — | 26.5 | 71.2 |
| TATA CAPITAL LIMITED | 1,54,110 | 28.2 | 3.27 | 6.5 | 10.4 | — | — | 75.8 |
| MUTHOOT FINANCE LIMITED | 1,12,094 | 9.9 | 2.82 | 3.9 | 26.7 | — | 22.0 | 84.0 |
| SBI CARDS & PAY SER LTD | 62,349 | 27.4 | 3.96 | — | 13.8 | — | — | 33.1 |
| Date · filing | Category | Importance | 1-day % | 5-day % |
|---|---|---|---|---|
| 11 Sept 2026 · Corrigendum to EGM Notice - Preferential Issue Objects Modified | board shareholder meetings | low | — | — |
| 11 Sept 2026 · Moody's upgrades Piramal Finance rating to Ba2 from Ba3, outlook stable | credit debt | high | — | — |
| 11 Sept 2026 · Moody's upgrades Piramal Finance rating to Ba2 from Ba3; outlook stable | credit debt | high | — | — |
| 11 Sept 2026 · Piramal Finance Q1 FY27 Results: AUM up 25%, PAT jumps 67% YoY | investor communications | medium | — | — |
| 11 Sept 2026 · Analyst meeting intimation: Citi India Financials Forum on Sep 21, 2026 | board shareholder meetings | low | — | — |
| 8 Sept 2026 · Piramal Finance approves Rs 2,000 cr NCD issuance at 8.57 percent coupon | fund raising | high | — | — |
| 7 Sept 2026 · Piramal Finance informs of investor group branch visit in Gurgaon on 14 Sep 2026 | board shareholder meetings | low | — | — |
| 4 Sept 2026 · Piramal Finance decides not to pursue partial NCD redemption | credit debt | medium | — | — |
| 1 Sept 2026 · Meeting on 4 Sep 2026 to consider partial redemption of NCDs | credit debt | medium | — | — |
| 31 Aug 2026 · Piramal Finance raises Rs 3,850 crore via QIP and promoter warrants | fund raising | high | — | — |
| Where a broker report shows | This document shows | Why |
|---|---|---|
| A rating (BUY / ADD / REDUCE / SELL) |
| HDB FINANCIAL SERVICES L |
| 55,706 |
| 20.2 |
| 2.70 |
| — |
| 12.3 |
| — |
| — |
| 58.0 |
| SUNDARAM FINANCE LTD | 52,217 | 23.3 | 3.51 | 6.7 | 13.8 | — | — | 78.4 |
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 30.2 | 18.2 | 147 of 212 | 31% |
| P/B | 1.8 | 1.1 | 164 of 245 | 33% |
| ROE | 5.3 | 3.0 | 104 of 266 | 61% |
| Debt / Equity | 0.0 | 0.0 | 5 of 266 | 11% |
| EBITDA margin | 63.4 | 48.6 | 104 of 249 | 59% |
| Market cap | 51144 | 37 | 9 of 260 | 97% |
| A state: the latest filed quarter and the measured reactions |
| an event is a fact; a rating is an opinion that requires SEBI RA registration |
| A target price and upside | The current price and the multiples against the group | a target is a forecast; a multiple is a measurement |
| Estimate years marked E | More audited years; no estimates | MarketPing publishes no forecasts — your own model lives on the Models page |
This document is a statistical summary of publicly filed information and market data, prepared by software from primary sources: SEBI results XBRL filed with BSE and NSE, LODR disclosures, shareholding patterns, exchange price data. It contains no research recommendation, no price target and no opinion on the merits of any security, and is not a research report within the meaning of the SEBI (Research Analysts) Regulations, 2014, Regulation 2(1)(w)(vii). Financial statements are as filed (consolidated where the company files consolidated results). Ratios are computed over filed lines. Where a figure is unavailable the table shows a dash rather than an estimate. The business brief is written by MarketPing's reader from the annual report and checked against it; no figure in a table was generated by a model. Nothing here constitutes investment advice, an offer or a solicitation; readers should consult a SEBI-registered adviser before acting. MarketPing is not a SEBI-registered intermediary.
