PIRAMAL FINANCEPiramal Finance LimitedNSE:PIRAMALFINTechnicalAnalystSucritPiramal Finance (CMP ₹2,114.00, NSE: PEL) The SmartWay Research Desk | 12 August 2026 A Mumbai‑based diversified NBFC, Piramal Finance (part of Piramal Enterprises Ltd.) operates across retail lending, housing finance, MSME loans, and wholesale credit, with a strong presence in digital lending platforms and co‑lending partnerships. FY22–FY26 Snapshot Revenue Growth: FY26 revenue ₹11,842 Cr vs ₹10,412 Cr in FY25 (+13.7% YoY). → Good Net Profit: FY26 PAT ₹2,012 Cr vs ₹1,782 Cr in FY25 (+12.9% YoY). → Good Operating Margin: FY26 EBITDA ₹4,212 Cr, margin 35.6% vs 34.8% last year (+80 bps). → Good Equity Capital: Stable, face value ₹2. → Good Dividend Policy: Dividend ₹12.00/share declared for FY26. → Good Asset Building: Investments in digital lending, housing finance expansion, and fintech partnerships. → Good Sales: Strong demand from retail loans and MSME financing. → Good Expense: Credit costs remain manageable; GNPA ~2.1%. → Neutral/Good EPS: FY26 EPS ₹52.25 vs ₹46.30 last year (+12.8%). → Good Institutional Interest & Ownership Trends (Mar 2026) Promoter Holding: 46.2% (no pledges) FII Holding: 22.12% DII Holding: 20.34% Retail & Others: 11.36% Strategic Moves & Innovations Expansion in housing finance and retail lending. Focus on digital lending platforms and AI‑driven credit scoring. Partnerships with banks and fintechs for co‑lending. Diversification into secured loans and affordable housing finance. Cash Flow & Balance Sheet Strength Market cap ~₹56,800 Cr. Debt‑to‑equity ratio ~3.5 (typical NBFC leverage). Book value per share ₹412.00; P/B ~5.1. EPS (TTM) ₹52.25; P/E ~40.4. Risk Factors High P/E ratio ~40.4, valuations expensive. Dependence on retail credit demand and interest rate cycles. Exposure to RBI regulatory changes for NBFCs. Competition from Bajaj Finance, Aditya Birla Capital, and L&T Finance. Investor Takeaway Piramal Finance has delivered steady FY26 performance, supported by retail lending expansion, housing finance growth, and digital initiatives. With strong promoter backing, dividend payouts, and leadership in diversified NBFC space, Piramal Finance remains a large‑cap financial services play. At CMP ₹2,114.00, valuations are expensive (P/E ~40.4, P/B ~5.1), reflecting growth expectations but also sectoral risks.