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Non-bank lender of the Piramal Group, providing retail and wholesale/real-estate financing across India.
Non-bank lender of the Piramal Group, providing retail and wholesale/real-estate financing across India.
In one line: India's smaller specialty consumer/commercial lender.
Moat: narrow (brand, distribution). Piramal Group brand and a diversified lending book, though real-estate wholesale exposure carries higher credit risk.
Headquarters: Mumbai, India · Founded: 1984 · Employees: 18,000
Size Piramal Finance (PIRAMALFIN.NS) is an India Financials company (Finance/Rental/Leasing) with a market value of $7.17B, the 160th largest of 1,058 India companies the cockpit tracks. Shares closed at ₹2,162 on 6 Nov 2026.
Performance Over six months the shares gained 12.8%, against -9.6% for the median peer and 0.0% for the India market (cap-weighted) — 2nd highest of 21 in its peer set.
Growth Revenue grew 71.2% over the last twelve months (peer median +7.4%); the operating margin is 20.8% (peer median 34.9%).
Valuation It trades at 1.58× book value against a peer median of 1.95× (8th cheapest of 21).
Price implies The share price implies a return on equity of about 13.0%; Piramal Finance delivers 6.5%, so the price asks more than the business earns today.
Credit Piramal Finance has 1 bond outstanding ($450M), rated BB by the agencies.
Next results Next results expected around 3 Mar 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | ₹117B | ₹84.3B | ₹63.9B | ₹42.1B | ₹22.3B |
| Revenue growth | — | +32% | +52% | +89% | — |
| Gross profit | ₹57.6B | ₹75.2B | ₹61.3B | ₹39.8B | ₹19.8B |
| EBITDA | ₹34.6B | ₹66.3B | ₹34.6B | ₹12.6B | ₹5.72B |
| Net income | ₹19.0B | ₹15.0B | ₹4.85B | -₹19.8B | -₹74.0B |
| Free cash flow | n/a | ₹34.2B | ₹25.6B | ₹12.5B | ₹62.0B |
| Capital expenditure | n/a | ₹1.16B | ₹2.74B | ₹2.53B | ₹1.45B |
| Total debt | ₹858B | ₹802B | ₹658B | ₹455B | ₹411B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | ROE | Price / book | Implied ROE |
|---|---|---|---|---|---|---|
| Piramal Finance PIRAMALFIN.NS | $7.17B | +13% | +71% | 7% | 1.58× | 13.0% |
| Bajaj Housing Finance BAJAJHFL.NS | $7.05B | -9% | +17% | 12% | 2.77× | 41.1% |
| L&T Finance LTF.NS | $7.36B | -9% | +17% | 12% | 2.38× | 45.8% |
| Bajaj Finance BAJFINANCE.NS | $71.6B | +12% | +19% | 19% | 5.50× | 77.1% |
| Aditya Birla Capital ABCAPITAL.NS | $11.5B | +8% | +24% | 12% | 2.56× | 41.9% |
| Poonawalla Fincorp POONAWALLA.NS | $4.42B | +4% | +77% | 9% | 3.02× | 47.4% |
| Tata Capital TATACAP.NS | $16.0B | +10% | +18% | 14% | 3.08× | 41.2% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | PIRAMALFIN.NS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +9.1% | -0.7% | 5th highest of 21 |
| 6-month return | +12.8% | -9.6% | 2nd highest of 21 |
| Return on equity | 6.5% | 12.5% | 2nd lowest of 21 |
| Price / book | 1.58× | 1.95× | 8th cheapest of 21 |
| Trailing P/E | 26.0× | 15.5× | 3rd most expensive of 21 |
| ROE the price implies | 13.0% | 19.2% | 9th least demanding of 21 |
| ROE delivered | 6.5% | 12.5% | 2nd lowest of 21 |
| Company | Market | Market cap | 6M return | Revenue growth | ROE | Price / book | Implied ROE | Delivered ROE |
|---|---|---|---|---|---|---|---|---|
| Piramal Finance PIRAMALFIN.NS | India | $7.17B | +13% | +71% | 7% | 1.58× | 13.0% | 6.5% |
| BOC Aviation 2588.HK | Hong Kong | $7.09B | -3% | -2% | 12% | 1.01× | 6.2% | 11.8% |
| Bajaj Housing Finance BAJAJHFL.NS | India | $7.05B | -9% | +17% | 12% | 2.77× | 41.1% | 12.4% |
| L&T Finance LTF.NS | India | $7.36B | -9% | +17% | 12% | 2.38× | 45.8% | 12.3% |
| Tokyo Century 8439.T | Japan | $7.50B | +12% | +8% | 12% | 1.01× | 7.7% | 11.6% |
| Jiangsu Financial Leasing 600901.SS | China | $6.66B | +12% | +14% | 13% | 1.67× | 5.9% | 13.5% |
| FirstCash FCFS | United States | $7.96B | -18% | +23% | 18% | 3.50× | 19.9% | 18.2% |
| OneMain OMF | United States | $6.42B | 0% | +6% | 23% | 1.90× | 18.5% | 22.7% |
| REC RECLTD.NS | India | $8.27B | -18% | -3% | 17% | 0.83× | 15.1% | 17.0% |
| Ayvens AYV.PA | France | $8.45B | -16% | 0% | 9% | 0.68× | 8.0% | 9.2% |
| SBI Cards & Payment Services SBICARD.NS | India | $5.89B | -10% | +6% | 16% | 3.24× | 40.7% | 16.3% |
| Chailease 5871.TW | Taiwan | $5.74B | -10% | -4% | 12% | 0.97× | 3.8% | 11.5% |
| Element Fleet Management EFN.TO | Canada | $5.61B | -31% | +5% | 11% | 2.06× | 9.2% | 10.6% |
| Credit Acceptance CACC | United States | $5.37B | -1% | +2% | 23% | 3.86× | 38.2% | 22.7% |
| Figure Technology Solutions FIGR | United States | $5.10B | -40% | +66% | 26% | 3.58× | 26.5% | 26.2% |
| Herc HRI | United States | $5.08B | +14% | +19% | 6% | 2.56× | 33.3% | 6.3% |
| Sundaram Finance SUNDARMFIN.NS | India | $4.95B | -11% | +14% | 14% | 2.89× | 35.3% | 14.4% |
| HDB Financial Services HDBFS.NS | India | $4.71B | -24% | +11% | 14% | 2.01× | 30.2% | 14.3% |
| Nelnet NNI | United States | $4.67B | +7% | -7% | 8% | 1.24× | 10.1% | 8.1% |
| Indian Railway Finance IRFC.NS | India | $11.1B | -25% | +13% | 13% | 1.74× | 28.2% | 12.6% |
| Ally Financial ALLY | United States | $11.5B | -14% | +5% | 10% | 0.88× | 9.8% | 9.9% |
Piramal Finance has 1 bond outstanding with $450M face value. The agencies rate it BB.