Piramal Enterprises Limited announces consolidated results for Q2 and H1 FY2023

Piramal Enterprises
0 0
Read Time:1 Minute, 20 Second

Mumbai, India | November 9, 2022: Piramal Enterprises Limited (‘PEL’, NSE: PEL, BSE: 500302), a leading diversified NBFC, today announced its consolidated results for the Second Quarter (Q2) and Half Year (H1) FY2023 ended 30th September 2022.

Ajay Piramal, Chairman, of Piramal Enterprises Ltd. said, “This quarter marks the successful and time-bound demerger of the Pharma business, creating two sector-focused entities in Financial Services and Pharma.

In the Retail lending business, we successfully completed our 1-year milestone of the DHFL acquisition, delivering robust growth on most key parameters. Our size now places us in a dominant position amongst large NBFCs in India. The retail lending business continues to grow faster than our earlier guidance, taking us closer to our aspirations of becoming a more retail-oriented NBFC.

In the Wholesale lending business, we have largely completed our asset recognition cycle and are well provided on Stage 2 and Stage 3 loans. We are focused on making the Wholesale book more granular and with the increased focus on recoveries/ monetization, we expect the wholesale book size to moderate in the short term. Further, we are also investing to build a cashflow & asset-backed real estate and mid-size corporate lending business.

Our balance sheet remains strong with a capital adequacy ratio of 23% and an equity base of INR 27,472 Cr. in Q2 FY23. In addition, there are significant pockets of value embedded in our balance sheet, where we expect value unlocking to take place in the coming few quarters. We will continue to work towards creating long-term value for our stakeholders.”

Happy
Happy
0 %
Sad
Sad
0 %
Excited
Excited
0 %
Sleepy
Sleepy
0 %
Angry
Angry
0 %
Surprise
Surprise
0 %

Average Rating

5 Star
0%
4 Star
0%
3 Star
0%
2 Star
0%
1 Star
0%

Leave a Reply

Your email address will not be published.