MarketFriction

Piramal Enterprises Ltd(Merged)

NSE PEL · Non Banking Financial Company (NBFC)
₹1,124.20 +0.18%
NSE close2025-09-22
Market cap₹25,483 Cr.
P/E49.0
Merged or delisted Delivery 53.2%

Price

Drag to pan, scroll or pinch to zoom. Ruler (or Shift + drag) measures a move.Dashed lines: 52 week high and low. Prices adjusted for splits and bonuses.

Financials

Consolidated, Rs crore
Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025
Revenue1,8942,8112,1322,8782,1932,4762,4732,2272,2882,8252,8542,643
Interest1,0009599911,0421,0391,1031,1671,1961,3051,3641,4171,492
Expenses3,7831,8181,3181,1581,0751,2702,8517629361,3741,537922
Financing Profit-2,89034-17867779103-1,5442694787-100229
Financing Margin %-153%1%-8%24%4%4%-62%12%2%3%-4%9%
Other Income687110244218-3,3961,5723019858269129
Depreciation2730413738417125155545357
Profit before tax-2,230113-19468259-3,335-68424819091116301
Tax %-31%-3,024%1%25%18%-29%-120%27%14%57%12%8%
Net Profit-1,5363,545-19650948-2,37813718116339102276
EPS in Rs-64.36148.53-8.2121.312.14-105.816.108.057.231.714.5412.19
Gross NPA %3.70%4.01%3.76%2.79%2.74%2.41%2.37%2.67%3.08%2.83%2.84%2.83%
Net NPA %1.30%1.69%1.93%1.47%1.48%1.11%0.83%1.08%1.46%1.46%1.85%2.01%
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025TTM
Revenue5,1236,3428,50410,63111,88313,06812,8097,7268,98110,11010,37510,609
Interest5119592,0312,9784,1005,3214,2094,2253,9944,3445,2825,577
Expenses4,2334,7514,9975,4715,2646,8015,3382,1377,4346,3514,6084,768
Financing Profit3796311,4752,1822,5199473,2631,363-2,447-584485263
Financing Margin %7%10%17%21%21%7%25%18%-27%-6%5%2%
Other Income2,9465792172601981,5557541,1168,470-1,865373655
Depreciation29025538247740152056174123829214220
Profit before tax3,0359541,3101,9642,3161,9823,4562,4055,900-3,278645698
Tax %11%5%17%-146%37%99%59%17%-69%-49%25%
Net Profit2,8509051,2525,1201,464211,4131,9999,969-1,684485580
EPS in Rs139.7044.3561.39250.8170.261.0759.0880.57417.62-74.9221.5325.67
Dividend Payout %12%33%29%9%35%1,314%56%41%7%-13%51%
10 Years5 Years3 YearsTTM1 YearLast Year
Compounded Sales Growth7%-5%10%13%
Compounded Profit Growth-1%102%-33%28173%
Stock Price CAGR1%-6%2%0%
Return on Equity6%4%3%2%
Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Equity Capital353535353637454548484545
Reserves9,28711,70112,91414,84826,52627,18730,52633,97335,44131,01126,51227,051
Borrowing9,5527,30616,27930,45144,16156,03742,23839,55755,53949,58353,61165,577
Other Liabilities2,6221,8911,7222,8752,0482,3332,0913,3218,6523,1102,4372,271
Total Liabilities21,49520,93330,94948,20972,77185,59474,90076,89699,68183,75282,60594,943
Fixed Assets6,1917,0657,5259,97310,72611,1976,4157,8609,1333,2633,3893,268
CWIP4912773558806474945176361,18862043
Investments9,4467,76816,31725,18128,84225,74719,44322,02924,85722,33212,51312,539
Other Assets5,3675,8236,75212,17632,55648,15648,52546,37164,50358,15166,68379,094
Total Assets21,49520,93330,94948,20972,77185,59474,90076,89699,68183,75282,60594,943
Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Cash from Operating Activity-1,604-2,207-6,956-10,057-15,967-11,6117,5163,6658,4431,37895-8,091
Cash from Investing Activity1,5356,193-594-2,376-1,747-8207,491-2,766-967-646-1,581-1,854
Cash from Financing Activity126-3,8657,54413,57018,65010,752-13,0192,072-6,774-3,2871,03111,664
Net Cash Flow57122-71,138936-1,6791,9882,970702-2,555-4551,718
Free Cash Flow897-1,874-7,639-12,155-16,771-12,3037,0503,0747,4831,181-1,143-8,131
CFO/OP-228%-209%-417%-274%-293%-162%133%59%167%89%3%-140%
Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
ROE %-5%4%7%9%25%7%0%4%4%6%1%2%
Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025
Promoters43.48%43.48%43.48%43.48%46.20%46.20%46.20%46.03%46.30%46.30%46.41%46.16%
FIIs32.05%31.25%28.67%26.04%19.69%17.19%16.97%16.19%14.93%16.44%16.12%15.23%
DIIs7.85%8.05%9.59%11.92%12.06%13.02%13.19%13.35%14.94%13.82%14.33%15.19%
Public16.10%16.71%17.75%18.06%21.56%23.09%23.14%23.94%23.42%23.08%22.78%22.75%
Others0.50%0.49%0.49%0.49%0.50%0.50%0.49%0.50%0.41%0.37%0.35%0.64%
No. of Shareholders2,59,6352,65,2132,68,9462,82,9322,95,1093,14,9133,15,9453,10,8572,78,2432,63,8982,59,2832,47,946

Fundamentals

Market Cap₹ 25,483 Cr.
Current Price₹ 1,124
Stock P/E49.0
Book Value₹ 1,202
ROCE6.78 %
ROE1.63 %
Dividend Yield0.98 %
Face Value₹ 2.00
Compounded Sales Growth (TTM)13%
Compounded Profit Growth (TTM)28173%
Consolidated figures.
Valuation
Market capRs 25,351 Cr
Enterprise valueRs 84,652 Cr
P/E (TTM)43.68x
Price to book0.94x
Price to sales2.39x
EV / EBITDA13.03x
EV / EBIT13.49x
EV / sales7.98x
Earnings yield2.29%
Dividend yield0.98%
P/E, 3-year average23.76x
P/B, 3-year average0.69x
P/E, 5-year average19.96x
P/B, 5-year average0.71x
Profitability
Operating margin (excl. other income)55.59%
Operating margin (incl. other income)59.18%
EBITDA margin61.22%
Pre-tax margin6.58%
Net profit margin5.47%
Net margin, latest quarter10.46%
ROE1.81%
ROCE6.86%
ROA0.55%
ROE, 3-year average8.64%
ROCE, 3-year average6.57%
ROA, 3-year average3.13%
ROE, 5-year average7.12%
ROCE, 5-year average7.65%
ROA, 5-year average2.67%
ROIC (approx.)5.47%
Tax rate24.72%
Other income / net worth1.38%
Growth
Sales growth (latest year)2.62%
Sales CAGR, 3 years10.33%
Sales CAGR, 5 years-4.51%
Profit CAGR, 3 years-36.80%
Profit CAGR, 5 years82.42%
Sales growth QoQ-7.39%
Profit growth QoQ169.79%
Sales growth YoY (latest quarter)18.69%
Profit growth YoY (latest quarter)52.29%
Per share
EPS (TTM)Rs 25.74
EPS (latest year)Rs 21.53
EPS (latest quarter)Rs 12.26
EPS, 3-year averageRs 121.41
EPS, 5-year averageRs 100.78
Book value per shareRs 1,201.58
Sales per shareRs 470.45
Cash flow per shareRs -358.79
Free cash flow per shareRs -360.57
Dividend per share (latest year)Rs 10.99
Dividend per share, 3-year averageRs 17.33
Dividend per share, 5-year averageRs 23.60
Dividends
Dividend payout51.07%
Dividend payout, 3-year average29.25%
Dividend payout, 5-year average38.83%
Efficiency
Asset turnover0.11x
Fixed asset turnover3.17x
Debtor days0 days
Debtors turnover1749.63x
Leverage
Total debtRs 65,577 Cr
Cash and bankRs 6,276 Cr
Net debtRs 59,301 Cr
Debt to equity2.42x
Net debt / EBITDA9.13x
Interest coverage1.13x
Owners' fund to total sources28.54%
Debt to assets69.07%
Cash flow
Cash from Operating Activity (latest year)Rs -8,091 Cr
Cash from Investing Activity (latest year)Rs -1,854 Cr
Cash from Financing Activity (latest year)Rs 11,664 Cr
Net Cash Flow (latest year)Rs 1,718 Cr
Free cash flow (latest year)Rs -8,131 Cr
FCFE (approx.: FCF + change in debt)Rs 3,835 Cr
Cash from ops / profit, 5 years0.45x
Statement figures
Net sales (TTM)Rs 10,609 Cr
Net sales (latest year)Rs 10,375 Cr
Sales (latest quarter)Rs 2,643 Cr
Operating profit excl. other income (latest year)Rs 5,767 Cr
Operating profit (latest quarter)Rs 1,721 Cr
Other income (TTM)Rs 655 Cr
EBITDA (TTM)Rs 6,495 Cr
PBDT (TTM)Rs 918 Cr
Profit before tax (TTM)Rs 698 Cr
Tax (latest year)Rs 159 Cr
Net profit (TTM)Rs 580 Cr
Net profit (latest year)Rs 485 Cr
Net profit (latest quarter)Rs 276 Cr
Depreciation (TTM)Rs 220 Cr
Depreciation (latest quarter)Rs 57 Cr
Interest (TTM)Rs 5,577 Cr
Cost of goods sold (latest year)Rs 537 Cr
Total expenditure (latest year)Rs 4,608 Cr
Total income (latest year)Rs 10,748 Cr
Share capitalRs 45 Cr
ReservesRs 27,051 Cr
Shareholders' fundsRs 27,096 Cr
Total assetsRs 94,943 Cr
Net blockRs 3,268 Cr
Capital work in progressRs 43 Cr
InvestmentsRs 12,539 Cr
ReceivablesRs 6 Cr
Other liabilitiesRs 2,271 Cr
Shares outstanding (crore)22.55
Ownership
Promoter holding46.16% (+0.13 in a year)
Computed by MarketFriction from the consolidated statements. Returns use average balances.
P/E 43.7 is at the 71th percentile of its own 7.0-year range (median 27.8, low 2.1, high 68.2).
P/B 0.94 is at the 33th percentile (median 1.26).
Monthly. Market cap from split-adjusted price; profit and book value as reported by that month. A low percentile means cheap versus its own history, not cheap versus peers.
PeriodPELNifty 50Difference
1 week-1.5%-2.8% +1.3 pts
1 month-3.4%-6.8% +3.4 pts
3 months+0.3%-7.6% +7.9 pts
6 months+16.8%+0.4% +16.4 pts
1 year+3.9%-9.9% +13.8 pts
2 years+3.2%-13.6% +16.7 pts
3 years+17.6%+14.2% +3.4 pts
5 years-9.8%+27.9% -37.7 pts

Red flags

F-score 4 of 8
explainWeak cash conversion Cash from operations was -75% of net profit over the last 3 years
explainLow interest cover Interest cover 1.1x in 2025
lookProfit leans on other income Other income was 58% of pre-tax profit in 2025
Checks on the latest reported years: cash vs profit, accruals, receivables and inventory vs sales, dilution, debt, interest cover, equity, other income, losses, and auditor, top-management, insolvency and regulator filings in the last 12 months. A flag asks for an explanation; it is not a verdict.

Latest quarter

Jun 2025
Revenue ₹2,643 Cr +18.7% vs Jun 2024. Net profit ₹276 Cr +52.5%.

Activity

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No bulk or block deals on record.
Ex-dateActionFactor
2025-06-13Dividend - Rs 11 Per Share
2024-07-05Dividend - Rs 10 Per Share
2023-08-25Buy Back
2023-06-16Dividend - Rs 31 Per Sh
2022-08-30Demerger
2022-07-14Dividend - Rs 33 Per Share
2021-07-06 Dividend - Rs 33 Per Share
2020-07-16 Annual General Meeting/Dividend - Rs 14 Per Share
2019-12-30 Rights 11:83 @ Premium Rs 1298/-
2019-07-18 Annual General Meeting/ Dividend - Rs 28 Per Share
2018-07-19 Dividend- Rs 25 Per Share
2018-01-31 Rights 1:23 @ Premium Rs 2378/-
2017-07-21 Dividend - Rs 21/- Per Share
2016-03-17 Interim Dividend -Rs 17.50/- Per Share
2015-07-28Annual General Meeting/ Dividend - Rs 20/- Per Share
2014-07-15Annual General Meeting / Dividend - Rs 52.5/- Per Share
2013-07-15Annual General Meeting And Dividend Rs.17.50 Per Equity Share
2012-07-09Annual General Meeting And Dividend Rs.17.50 Per Share
2011-07-28Final Dividend Rs.6/- Per Share And Special Dividend Rs.6/- Per Share
2010-06-29Dividend-Rs.5.40 Per Share
2009-06-05Agm/Div-Rs.4.20 Per Share
2008-06-16Agm/Dividend - 210%
2008-02-15Scheme Of Arrangement
2007-05-31Agm/Final Dividend-25%
2007-03-23Interim Dividend-150% Purpose Revised
2006-06-15Agm/Div-Rs.3/- Per Share
No announcements in our files yet.
Company filings to NSE, newest first. Routine notices (trading window, newspaper copies) are left out. Click a row for the filing.
No short selling reported to NSE in our files.
Short sales disclosed by brokers to NSE, by trade date. Collected since late September 2026.
Not on any NSE surveillance list in the latest file.

Quick answers

What is the market cap of Piramal Enterprises Ltd(Merged)?

Piramal Enterprises Ltd(Merged) (PEL) has a market capitalisation of Rs 25,483 Cr. at the 2025-09-22 close.

What is the P/E ratio of Piramal Enterprises Ltd(Merged)?

Piramal Enterprises Ltd(Merged) trades at a P/E of 49.0 on trailing twelve-month profit, at the 2025-09-22 close.

What were Piramal Enterprises Ltd(Merged)'s latest quarterly results?

In the Jun 2025 quarter, Piramal Enterprises Ltd(Merged) revenue was Rs 2,643 Cr (+18.7% vs Jun 2024) and net profit was Rs 276 Cr.

Data: NSE and BSE daily reports, company filings. Numbers only, not investment advice, not a SEBI-registered research service.AboutMethodologyFAQResearchContactTermsPrivacyDisclaimerUpdated 2026-10-03