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Piramal Enterprises Ltd.
Q4FY23 Quarterly & FY23 Annual Result Announced for Piramal Enterprises Ltd.
Finance firm Piramal Enterprises announced Q4FY23 & FY23 results:
- PAT for FY23 grew 5% YoY to Rs 1,902 crore
- PAT for Q4FY23 stood at Rs (196) crore, led by MTM loss of Rs 375 crore on Shriram investments.
- The Board has recommended a dividend of Rs 31 per share, subject to shareholders’ approval at the AGM; the total dividend pay-out would be Rs 740 crore
- Strong consolidated net worth of Rs 31,059 crore for FY23 with Capital Adequacy Ratio of 31% on consolidated balance sheet.
- Cash and liquid investments of Rs 7,430 crore (9% of Total Assets).
- GNPA ratio reduced to 3.8% in Q4 FY23 from 4% in Q3FY23.
- Total provisions as a % of Total AUM now stands at 6.2% in Q4FY23.
- Average borrowing cost for FY23 reduced to 8.6% from 9.6% in FY22.
Ajay Piramal, Chairman, Piramal Enterprises Ltd., said, “We are pleased with our resilient performance amid macroeconomic and geopolitical headwinds. India continues to remain a relative “bright spot” in the world and will likely contribute significantly to global growth in the coming years.
In Retail, we have achieved substantial growth and this business now contributes to 50% of our AUM. We are consciously pivoting to a technology-led multi-product strategy to continue building a large diversified NBFC. As we continue to expand our retail lending business, we are also investing in manpower, branch infrastructure, technology and analytics for its future growth.
In Wholesale, we have reduced our Wholesale 1.0* AUM by 33% YoY. Our Stage 2 3 AUM has reduced by 39% QoQ and we are focused on further bringing these down. We remain focused on ensuring sustained value creation for all stakeholders.”
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