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Piramal Enterprises
Piramal Enterprises (PEL) investor relations material
Piramal Enterprises has been acquired
Piramal Enterprises Q2 25/26 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q2 25/26 earnings summary17 Oct, 2025
Executive summary
Marked the first earnings call post-merger of Piramal Enterprises Ltd with Piramal Finance, with Ajay Piramal stepping down as Chairman and Anand Piramal taking over leadership.
Company is now among India's fastest-growing upper-tier NBFCs, serving over 5 million customers and disbursing 2.5 million loans, focusing on affordable housing, business loans, and microfinance.
Strategic investments in AI and analytics, with 45 live AI use cases, are driving improvements in underwriting, productivity, growth, and customer experience.
Financial highlights
Q2 FY 2026 profit after tax reached INR 327 crore, up 101% year-over-year.
Retail disbursements and AUM both grew 36% YoY; wholesale 2.2 AUM up 43% YoY; consolidated AUM up 22% YoY.
Cost of borrowings fell by 19 bps QoQ to below 9% after five quarters above that level.
Growth business NIM increased by 10 bps QoQ; growth business credit cost at 1.7% in Q2.
Operating profit for growth business rose 73% YoY to INR 687 crore.
Outlook and guidance
Targeting to double AUM to over INR 1.5 lakh crore by FY 2028.
Aiming for sustainable ROAUM above 3% in steady state.
Full-year profit guidance reiterated at INR 1,300–1,500 crore, with INR 600 crore delivered in H1.
No capital raise expected through FY 2026 and FY 2027, barring a drop in capital adequacy below 18%.
Capital plan to fund INR 1.5L Cr AUM by FY28
Wholesale 2.0 strategy for sub-A rated clients
Micro LAP risk outlook vs. UBL/MFI
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Piramal Enterprises
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Frequently asked questions
Piramal Enterprises Limited operates in financial services and pharmaceuticals businesses in India, North America, Europe, Japan, and internationally. It offers various financial solutions, such as structured finance solutions in real estate sector; and fixed income securities in housing finance sector. The company also operates as a contract development and manufacturing organization (CDMO) for generic active pharmaceutical ingredients (APIs) and formulations products. In addition, it provides customized research solutions for the pharmaceutical and biotechnology industries.
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