Piramal Enterprises Q1FY26 Results: Consolidated PAT Surges to ₹276 Cr, Board Approves NCD Issue up to ₹1,000 Cr

Mumbai, July 29, 2025 — Piramal Enterprises Ltd (NSE: PEL, BSE: 500302) has reported a robust commencement to FY26, with its consolidated net profit reaching ₹276.37 crore for the quarter ended 30th June 2025. This marks a significant year-on-year growth from ₹181.48 crore in Q1FY25. Additionally, the Board of Directors has given its approval for the issuance of Non-Convertible Debentures (NCDs) amounting to up to ₹1,000 crore through a private placement.

Despite the positive financials, the shares closed at ₹1,295.00, marginally down by 0.06% or ₹0.80. The shares made an intraday high of ₹1,304.30 and a low of ₹1,275.30.

Q1FY26 Financial Performance

The company posted robust revenue growth backed by a diversified financial services portfolio. Total consolidated income rose to ₹2,693.53 crore in Q1FY26 from ₹2,249.09 crore in Q1FY25.

Consolidated Financial Highlights (₹ in crore)

The company demonstrated strong revenue growth in Q1FY26, underpinned by its diversified financial services portfolio. Total consolidated income increased to ₹2,693.53 crore in Q1FY26 from ₹2,249.09 crore in Q1FY25.

• Interest Income: ₹2,393.43 crore in Q1FY26, up from ₹1,928.50 crore in Q1FY25 and ₹2,263.60 crore in Q4FY25. The full FY25 figure was ₹8,461.37 crore.
• Total Revenue from Operations: ₹2,642.67 crore in Q1FY26, compared to ₹2,226.51 crore in Q1FY25 and ₹2,853.55 crore in Q4FY25. The full FY25 figure was ₹10,269.56 crore.
• Total Income: ₹2,693.53 crore in Q1FY26, up from ₹2,249.09 crore in Q1FY25 and ₹3,032.60 crore in Q4FY25. The full FY25 figure was ₹10,611.86 crore.
• Profit Before Tax & Associates: ₹222.67 crore in Q1FY26, compared to ₹240.34 crore in Q1FY25 and ₹25.82 crore in Q4FY25. The full FY25 figure was ₹508.28 crore.
• Share of Profit from JVs/Associates: ₹78.36 crore in Q1FY26, significantly up from ₹7.59 crore in Q1FY25 and ₹90.25 crore in Q4FY25. The full FY25 figure was ₹136.61 crore.
• Net Profit: ₹276.37 crore in Q1FY26, a substantial increase from ₹181.48 crore in Q1FY25 and ₹102.44 crore in Q4FY25. The full FY25 figure was ₹485.45 crore.
• Total Comprehensive Income: ₹309.50 crore in Q1FY26, compared to ₹275.60 crore in Q1FY25 and ₹149.55 crore in Q4FY25. The full FY25 figure was ₹663.28 crore.
• EPS (Basic): ₹12.22 in Q1FY26, up from ₹8.08 in Q1FY25 and ₹4.54 in Q4FY25. The full FY25 figure was ₹21.55.

On a standalone basis, the company reported a net profit of ₹162.43 crore in Q1FY26, which was a decrease from ₹228.07 crore year-on-year, but a sharp recovery from a net loss of ₹23.33 crore in the preceding quarter. Standalone revenue from operations stood at ₹476.20 crore.

Key Ratios and Financial Strength

As per disclosures under SEBI (LODR) Regulation 52(4), Piramal Enterprises reported the following key financial ratios:

• Consolidated Debt-to-Equity Ratio: 3.00
• Net Worth: ₹22,925.05 crore
• Gross Non-Performing Assets (GNPA) Ratio: 2.83%
• Net Non-Performing Assets (NNPA) Ratio: 2.01%
• Consolidated Net Profit Margin: 10.26%
• Standalone Net Worth: ₹18,825.66 crore
• Standalone Net Profit Margin: 32.43%
• Standalone Net Profit Margin: 32.43%

Fundraising: NCDs up to ₹1,000 Crore Approved

The Board has approved the issuance of Redeemable, Non-Convertible Debentures through a private placement. The issuance will aggregate up to ₹1,000 crore and can take place during the period from 29th July 2025 to 31st March 2026. These NCDs may be listed on BSE and/or NSE, with their tenure and coupon rates to be determined by the Administrative Committee.

NCD Issuance Details

Management Commentary

Ajay Piramal, Chairman, in a signed note from London dated July 29, emphasised the company’s forward momentum despite macroeconomic challenges, citing continued recoveries in Alternative Investment Funds (AIFs) and strong underwriting.

Strategic Developments

• The Reserve Bank of India (RBI) has approved the merger of Piramal Enterprises Ltd with Piramal Finance Ltd (formerly Piramal Capital & Housing Finance Ltd). The scheme, with an appointed date of 1st April 2024, is currently awaiting approval from the National Company Law Tribunal (NCLT).
• Piramal Finance Ltd (PFL) transitioned from being a Housing Finance Company (HFC) to a Non-Banking Financial Company – Investment and Credit Company (NBFC-ICC) as of April 2025.
• Deferred tax assets amounting to ₹1,522.28 crore have been recognised, based on expected future profits.

Insights For Investors 

Piramal Enterprises’ Q1FY26 performance marks a solid start to the fiscal year, with a 52% YoY jump in net profit driven by higher interest income and a strong contribution from associates. The company’s improving asset quality, with GNPA at 2.83% and NNPA at 2.01%, adds further confidence to its lending book’s health. Approval for up to ₹1,000 crore in NCDs signals a proactive capital-raising approach to support business growth and balance sheet strength. While the standalone profit dipped YoY, the sharp QoQ recovery shows operational resilience. Investors may also keep an eye on the progress of the merger with Piramal Finance and the RBI’s regulatory clearance, which could unlock greater operational synergies in the quarters ahead.

About Piramal Enterprises Ltd

Piramal Enterprises Ltd, listed on both NSE and BSE, is a prominent Indian financial services firm. Its operations encompass both wholesale and retail lending. The company is actively engaged in the process of merging with Piramal Finance to consolidate its lending operations under a unified structure. As of the reporting date, it has no outstanding redeemable preference shares and no deviation in the utilisation of NCD funds.

REF:https://nsearchives.nseindia.com/corporate/PEL_29072025155040_PELOutcomeofBoard.pdf

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