PIRAMALFIN
Piramal Finance share price & financials
- Price
- ₹2,153.1
- Market cap
- ₹48.7k Cr
- Sector
- Financial Services
- Calls analysed
- 3
Piramal Finance Limited Q1 FY27
What went well
- Total AUM grew by 25% year-on-year to Rs. 107,000 crores, with Growth AUM increasing by 32% year-on-year.
- PAT was up 67% year-on-year to Rs. 461 crores, with underlying Growth business PBT of Rs. 470 crores.
- Growth business ROAUM improved to 1.9% in Q1 FY27 from 1.5% in Q1 FY26, driven by a 57-basis point improvement in OPEX ratio.
What to watch
- A mild uptick in secured lending risk, particularly in mortgages, was observed, returning to Q3 levels.
- Early signs of stress (bounces from current) were noted in IT sector salaried customers, particularly in Southern markets, prompting increased monitoring.
What Piramal Finance Limited does
Piramal Finance is a diversified, technology-led NBFC that lends to individuals, small businesses and corporates through a network of branches across semi-urban and rural India. Its Retail Lending arm offers secured products (housing loans, loan-against-property, used car loans, gold loans) and unsecured products (salaried personal loans, business loans, rural micro loans, digital loans), while its Wholesale 2.0 arm finances real estate and corporate/mid-market projects. It also runs Piramal Alternatives (private credit and special situations funds), a Life Insurance joint venture distributing third-party insurance, and holds a legacy investment stake in the Shriram group.
Segments
- Retail Lending
- Wholesale 2.0 Lending
- Legacy Portfolio
- Piramal Alternatives
- Life Insurance
- Investments in Shriram
- Branch network
- 701 branches
- Geographic footprint
- 568 cities across 26 states/UTs
- Pin codes served
- 13,000+
- Customer franchise
- 5.7 million customers served
- High-impact loans disbursed
- 2.5 million+ loans supporting affordable housing and small businesses
- Customer geography
- Majority of customers based outside Tier-1 cities, in semi-urban and rural India
Guidance record · Q1 FY27
what the last two calls moved 18 tracked 3 delivered 2 missed 13 open- Total AUM delivered said Q3 FY26 Promised: over INR 1 lakh crores Q1 FY27: This promise has been achieved and is now complete.
- Cost of Borrowing Reduction missed said Q3 FY26 Promised: further approximately 25 basis points in the months ahead Q1 FY27: This promise was for the 'months ahead' from Q3 FY26 and was missed in Q4 FY26. It is now concluded.
- Total AUM on track said Q3 FY26 Promised: over INR 1.5 lakh crores by FY '28 Q1 FY27: On track. AUM grew to INR 1,07,000 crores, representing 25% YoY growth, which is consistent with the trajectory required to meet the FY28 target.
All 18 tracked — every revision, and every one management stopped mentioning.
Open the guidance ledgerQuarterly results
Q1 FY27: revenue up 27.6%, net profit up 67.0% against the same quarter last year.
| Line item | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 2,365 | 2,825 | 2,854 | 2,639 | 2,872 +21% | 2,918 +3% | 3,424 +20% | 3,368 +28% |
| EBITDA | 1,429 | 1,451 | 1,317 | 1,721 | 1,949 +36% | 1,935 +33% | 1,446 +10% | 2,073 +20% |
| Net profit | 163 | 39 | 102 | 276 | 327 +101% | 401 +928% | 502 +392% | 461 +67% |
How to read this
₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.
Performance +37.1% YTD
YTD: ₹1,645 on 1 Jan 2026 → ₹2,255.6. High ₹2,310.5 (9 Sept 2026), low ₹1,645 (1 Jan 2026).
How the price took the results
close before → close after
- Q1 FY27
- +0.8%
- 16 Jul
- Q4 FY26
- −1.1%
- 27 Apr
- Q3 FY26
- −1.5%
- 23 Jan
The move from the last close before each results date to the first close after it — the market's first read on the quarter, not the quarter itself.
Financials, as filed
| Year ending | FY26 |
|---|---|
| Revenue | ₹11.9k Cr |
| Operating profit | ₹7.1k Cr |
| Operating margin | 59.5% |
| Interest | ₹6.4k Cr |
| Depreciation | ₹903 Cr |
| Net profit | ₹1.5k Cr |
| Net margin | 12.7% |
| ROCE | 6.0% |
How to read this
From the company's own filings. Margins are computed from the filed sums; a year with an incomplete quarter is left blank rather than estimated.
Balance sheet
| Year ending | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|
| Equity capital | ₹314 Cr | ₹21.4k Cr | ₹21.4k Cr | ₹23.4k Cr | ₹45 Cr | ₹45 Cr |
| Reserves | ₹-21.0k Cr | ₹823 Cr | ₹-6.6k Cr | ₹-8.5k Cr | ₹27.4k Cr | ₹28.1k Cr |
| Borrowings | ₹89.9k Cr | ₹46.4k Cr | ₹41.2k Cr | ₹45.7k Cr | ₹71.7k Cr | ₹80.0k Cr |
| Other liabilities | ₹1.2k Cr | ₹11.0k Cr | ₹6.3k Cr | ₹5.3k Cr | ₹2.2k Cr | ₹2.4k Cr |
| Total liabilities | ₹70.4k Cr | ₹79.6k Cr | ₹62.3k Cr | ₹65.9k Cr | ₹101.3k Cr | ₹110.5k Cr |
| Fixed assets | ₹940 Cr | ₹10.8k Cr | ₹1.6k Cr | ₹1.8k Cr | ₹3.1k Cr | ₹2.4k Cr |
| Capital work in progress | ₹0 Cr | ₹12 Cr | ₹4 Cr | ₹10 Cr | ₹0 Cr | ₹116 Cr |
| Investments | ₹8.4k Cr | ₹13.9k Cr | ₹13.0k Cr | ₹8.3k Cr | ₹12.0k Cr | ₹9.8k Cr |
| Other assets | ₹61.0k Cr | ₹55.0k Cr | ₹47.7k Cr | ₹55.8k Cr | ₹86.2k Cr | ₹98.3k Cr |
| Total assets | ₹70.4k Cr | ₹79.6k Cr | ₹62.3k Cr | ₹65.9k Cr | ₹101.3k Cr | ₹110.5k Cr |
How to read this
As filed each year. A line the company does not report — deposits for a non-lender, for instance — is left out rather than shown as a row of dashes.
Who owns it
As disclosed at Jun 2026
Since Jun 2021, the public trimmed −37.55 pp while FIIs added +15.20 pp. The shareholder count shrank 43% to 1,97,926.
- Promoters
- 46.2%
- FIIs
- 15.4%
- DIIs
- 18.6%
- Public
- 19.5%
- Others
- 0.2%
Since Jun 2021
- Public −37.55 pp
- FIIs +15.20 pp
- DIIs +15.18 pp
How it drifted, 12 quarters
Over this window the public fell from 47.5% to 19.5% — −28.0 pp.
Ownership split by quarter, oldest first. Sep '19: Promoters 39.2%, FIIs 9.5%, DIIs 3.8%, Public 47.5%.Dec '19: Promoters 39.2%, FIIs 6.5%, DIIs 3.5%, Public 50.8%.Mar '20: Promoters 39.2%, FIIs 3.1%, DIIs 3.5%, Public 54.2%.Jun '20: Promoters 39.2%, FIIs 2.9%, DIIs 3.5%, Public 54.5%.Sep '20: Promoters 39.2%, FIIs 2.5%, DIIs 3.5%, Public 54.9%.Dec '20: Promoters 39.2%, FIIs 2.5%, DIIs 3.5%, Public 54.9%.Mar '21: Promoters 39.2%, FIIs 1.9%, DIIs 3.5%, Public 55.4%.Jun '21: Promoters 39.2%, FIIs 0.3%, DIIs 3.5%, Public 57.1%.Sep '25: Promoters 46.2%, FIIs 15.1%, DIIs 14.5%, Public 23.8%, Others 0.5%.Dec '25: Promoters 46.2%, FIIs 15.6%, DIIs 16.3%, Public 21.6%, Others 0.4%.Mar '26: Promoters 46.2%, FIIs 14.6%, DIIs 18.8%, Public 20.1%, Others 0.3%.Jun '26: Promoters 46.2%, FIIs 15.4%, DIIs 18.6%, Public 19.5%, Others 0.2%.
Who bought this quarter
since Mar 2026
Disclosed holders that added to a position or appeared on the register for the first time, biggest addition first.
- Nippon Life India Trustee Ltd-A/C Nippon India Value Fund Mutual fund newly disclosed 1.06% held
- HSBC Mutual Fund - HSBC Midcap Fund Mutual fund +0.53 pp 1.96% held
- Kotak Midcap Fund Mutual fund +0.34 pp 4.32% held
- Shrikrishna Services Private Limited newly disclosed 0.00% held
- AnsaPack (FC) Private Limited newly disclosed 0.00% held
- Rich Printers Private Limited newly disclosed 0.00% held
- Webteck Printpack Private Limited newly disclosed 0.00% held
The same filing shows 3 holders trimming and 0 off the list — both are in the register beside this.
Who is on the register
Named in the Jun 2026 filing
Every holder of Piramal Finance Limited above SEBI's 1% disclosure line, and what changed since Mar 2026.
| Holder | Stake | Change |
|---|---|---|
| Anutham Realty Private Limited | 24.78% | unchanged |
| The Sri Krishna Trust (through its Trustee Mr. Ajay G Piramal and Dr. (Mrs.) Swati Piramal) | 10.02% | unchanged |
| Kotak Midcap Fund Mutual fund | 4.32% | +0.34 pp |
| V3 Designs LLP | 4.28% | unchanged |
| PRL Realtors LLP | 3.96% | unchanged |
| Quant Mutual Fund - Quant Small Cap Fund Mutual fund | 3.48% | unchanged |
| Government Pension Fund Global Sovereign | 3.09% | unchanged |
| Life Insurance Corporation Of India Insurer | 2.84% | −1.31 pp |
| HSBC Mutual Fund - HSBC Midcap Fund Mutual fund | 1.96% | +0.53 pp |
| Indiahold Limited | 1.91% | unchanged |
| East Bridge Capital Master Fund I Ltd FPI fund | 1.47% | −0.13 pp |
| Semplice Corporate Solutions Private Limited (Formerly known as AASAN Corporate Solutions Pvt. Ltd) | 1.27% | unchanged |
A holder disappearing from this list has fallen below the 1% line — it is not necessarily a sale. Percentages are of total shares, as disclosed in the company's own filing. Who was buying across the market this quarter.
Mutual funds in PIRAMALFIN
Filings to Aug 2026
2 new, 9 added, 1 trimmed, 0 sold out — net +12.77 L shares (+35.3%).
- Held by funds
- ₹1.1k Cr
- 13 schemes
- Biggest holder
- Nippon India Growth Mid Cap Fund
- ₹280 Cr · 0.5% of that fund
| Scheme | Holding | Last month | Held since |
|---|---|---|---|
| Nippon India Growth Mid Cap Fund Nippon India Mutual Fund | ₹280 Cr | +2.06 L | Jul '26 |
| Nippon India Value Fund Nippon India Mutual Fund | ₹210 Cr | +1.29 L | Nov '25 |
| Nippon India Small Cap Fund Nippon India Mutual Fund | ₹185 Cr | +2.06 L | Sep '25 |
| Nippon India Banking & Financial Services Fund Nippon India Mutual Fund | ₹115 Cr | held | Nov '25 |
| Nippon India Vision Large & Mid Cap Fund Nippon India Mutual Fund | ₹87 Cr | new | Aug '26 |
| Nippon India Balanced Advantage Fund Nippon India Mutual Fund | ₹70 Cr | +0.31 L | Apr '26 |
| Nippon India Multi Cap Fund Nippon India Mutual Fund | ₹59 Cr | new | Aug '26 |
| Nippon India Multi Asset Allocation Fund Nippon India Mutual Fund | ₹51 Cr | +0.65 L | Dec '25 |
HDFC, Nippon India and SBI schemes, from their monthly disclosures. Changes are counted in shares, so a price move never looks like buying or selling.
Mutual funds Aug 2026
9 added, 1 trimmed — net +12.77 L shares (+35.3%)
- Funds are sitting on
- +13%
- vs est. average cost
- Held by funds
- ₹1.1k Cr
- 13 schemes · ≈ 2.2% of the company
- Biggest holder
- Nippon India Growth Mid Cap Fund
- ₹280 Cr · 0.5% of that fund
- Longest holder
- Nippon India Small Cap Fund
- 1y · since Sep '25
Shares held by these funds +296%
Sep '25 36.20 L shares Jul '26
All earnings calls (3)
Read the Q1 FY27 call →Learn to analyse Piramal Finance Limited
Guides on how to read this kind of business and the numbers that matter.