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The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
Piramal Pharma, which was demerged from Piramal Enterprises, recently faced an unusual order from SEBI. In a departure from typical review outcomes, SEBI"s whole-time member re-exonerated the company regarding alleged non-disclosure violations, rather than imposing penalties. This decision could have implications for other listed entities navigating similar regulatory scrutiny.
Piramal Enterprises reported a net profit of approximately INR 1.6 billion for 2QFY25, down from INR 1.8 billion in the previous quarter, boosted by an exceptional gain of INR 770 million from AIF portfolio recoveries. NII increased by 17% YoY to INR 8.8 billion, while PPOP surged 58% YoY to INR 4 billion. Despite a 38% YoY decline in PAT for 1HFY25 to INR 3.4 billion, total AUM grew 12% YoY, with retail AUM rising 42% YoY, now comprising 73% of the loan book. The stock is rated Neutral with a target price of INR 1,015.
Piramal Enterprises reported a threefold increase in Q2 profit, reaching Rs 163 crore, while highlighting concerns over a precarious credit environment. The net interest margin improved to 5.1%, up from 4.7% in the same period last year, driven by a shift towards growth assets in its loan portfolio.
Piramal Enterprises anticipates an increase in business loan delinquencies to 2-2.1% in the upcoming quarters, driven by ongoing stress in the microfinance and business loan sectors, according to Managing Director Jairam Sridharan. In the July-September quarter, delinquencies rose to 1.6%, up from 1% a year earlier and 1.3% in the previous quarter, with expectations that the situation may stabilize after a few quarters of improvement.
Piramal Enterprises Limited
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07:21 20.11.2024
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