Piramal Enterprises

Non-bank lender Piramal Enterprises on Wednesday said its September quarter net profit tripled to Rs 163 crore on a low base, but flagged risks from the "precarious" credit environment. The city-headquartered entity had reported a profit of Rs 48 crore in the year-ago period, and Rs 181 crore in the preceding June quarter. Its core net interest income was up 17 per cent to Rs 881 crore, while recoveries of Rs 181 crore from alternate investment fund investments in the first half of the fiscal helped the other income grow by 56 per cent to Rs 257 crore. Net interest margin went up to 5.1 per cent from 4.7 per cent in the year-ago period on a shift in the loan base towards what the company defines as growth assets. Managing Director of Piramal Capital and Housing Finance Jairam Sridharan however said that chances of a further upside are slim, and the number may narrow as well in the future. Gross non performing assets ratio moved up to 3.1 per cent from 2.7 per cent, and Sridharan s

The company said that the acquisition of shares aligns with the promoters' belief in its growth trajectory, further reflecting their trust in the company's business fundamentals

PEL's share prices ended at Rs 881.35 today, down 10.59 per cent on the BSE

The net interest margin (NIM) of the finance company dropped to 6.7 per cent compared to 7.3 per cent in the last year.

Piramal Enterprises on Tuesday reported a 64 per cent decline in its June quarter net profit to Rs 181 crore, impacted because of a higher base due to a one-off item last year. The city-headquartered non-bank lender had reported a consolidated net profit of Rs 509 crore in the year-ago period. Its managing director and chief executive Jairam Sridharan said the year-ago performance included a Rs 850 crore benefit from a stake sale in a Shriram Group entity, and added that the performance has been stable in the reporting quarter this year. The core net interest income grew 18 per cent to Rs 807 crore on the back of a 10 per cent increase in the overall assets under management to Rs 70,576 crore, while the net interest margin narrowed to 6.7 per cent from 7.3 per cent in the year-ago period. Sridharan said disbursements were impacted in the June quarter due to regulatory changes around fair practices but exuded confidence that the company will be able to meet its FY25 target of 15 per

Since the acquisition of DHFL in 2021, the goal has been to build on its strong customer franchise in smaller towns

On a sequential basis, the company's profit jumped more than nine-fold

The main reasons behind this merger with Piramal Capital & Housing Finance are to simplify the group structure and provide shareholders with direct access to the entire lending business

Capital adequacy remains strong despite 4% AIF impact; Slows down on unsecured consumer loan book

SOT is the promoter of Shriram Capital Private Limited, which is the overarching holding company of Shriram Group

Piramal to adjust Rs 3,164 cr; IIFL Finance sees Rs 161 cr impact

As per the RBI's direction, regulated entities must liquidate their investments in AIFs within 30 days should the fund invest in an existing borrower

Move follows RBI directive limiting investments in AIFs to curb evergreening

Indian Shadow lenders declined after the nation's central bank tightened norms for investments by banks and other regulated entities into alternative investment funds to plug lending loopholes.

Stocks to watch on Friday, November 10, 2023: Biocon, Hindustan Aeronautics, Hindalco, LIC, M&M, ONGC, SAIL and Tata Chemicals among prominent companies scheduled to announce Q2 results today.

Piramal Enterprises Limited on Wednesday said it plans to raise Rs 1,000 crore from maiden issuance of Non Convertible Debentures (NCDs) to fund business growth. The tranche I comprises the base issue size of Rs 200 crore and a green-shoe option of up to Rs 800 crore, aggregating up to Rs 1,000 crore, which is within the shelf limit of Rs 3,000 crore. The issue opens for subscription on October 19 and closes on November 2, 2023 with an option of early closure as per the Securities and Exchange Board of India norms. According to Jairam Sridharan, MD, Piramal Capital & Housing Finance Ltd, 60 per cent of issue is reserved for high net-worth individuals and retail investors. The secured, rated, listed, redeemable, non-convertible debentures of the face value of Rs 1,000 each is proposed to be listed on BSE and NSE, with BSE being the designated stock exchange for the issue. The minimum application size is Rs 10,000 and thereafter in multiples of Rs 1,000. The issue has ...

Financial advisors for this transaction included O3 Capital, representing IndiaRF, and Unaprime Investment Advisors, advising Ivy

The API business has a presence across the US, Japan, Korea, EU, Brazil, and India

"By the end of September, we will have approximately Rs 6000 crore of cash in the balancesheet, which is much more than the LCR requirements"

Piramal Enterprises, KRBL, FDC and IndiaMART InterMESH turned ex-date for share buyback on Friday, falling in the range of 2 per cent to 4 per cent on the BSE in intra-day deals.