Anup singh
Piramal Enterprises Limited Announces Consolidated Results for Q1 FY2022
About Piramal Enterprises Ltd
Piramal Enterprises Limited (PEL) is one of the large companies in India, with a presence in Financial Services and
Pharmaceuticals. PEL’s consolidated revenues were US$1.7 Billion in FY 2021, with ~37% of revenues generated from
outside India.
In Financial Services, the Company offers a wide range of financial products and solutions, with presence across both
retail and wholesale financing. Within retail lending, through its multi-product platform, the Company offers home
loans, loans for small businesses and loans for working capital to customers in affordable housing and mass affluent
segments across Tier I, II and III cities. Within wholesale lending, the business provides financing to real estate
developers, as well as corporate clients. The Company has also formed strategic partnerships with leading financial
institutions such as CPPIB, APG and Ivanhoe Cambridge, etc. across various investment platforms. Piramal
Alternatives, the fund management business, provides customised financing solutions to high quality corporates
through – ‘Piramal Credit Fund’, a performing, sector-agnostic credit fund with capital commitment from CDPQ; and
‘IndiaRF’, a distressed asset investing platform with Bain Capital Credit, which invests in equity and/or debt across
non-real estate sectors. PEL also has equity investments in the Shriram Group, a leading financial conglomerate in
India.
In Pharma, the Company has a differentiated business model that is diversified across three segments: Contract
Development and Manufacturing Organization (CDMO), Complex Hospital Generics (CHG) and India Consumer
Healthcare. Through end-to-end manufacturing capabilities across 15 global facilities and a large global distribution
network spanning over 100 countries, PEL sells a portfolio of niche differentiated pharma products and provides an
entire pool of pharma services. CDMO business offers integrated solutions across the drug lifecycle – ranging from
discovery clinical development to commercial manufacturing of Active Pharmaceutical Ingredients (APIs) and
Formulations. The Complex Hospital Generics business markets niche inhalation anaesthesia, injectable anaesthesia,
intrathecal spasticity and pain management and select antibiotics. PEL’s Consumer Healthcare business is among the
leading players in India in the self-care space, with established brands in the Indian consumer healthcare market.
The Pharma Business has a joint venture with Allergan, a leader in ophthalmology in the Indian formulations market.
In October 2020, the company raised fresh equity from The Carlyle Group for a 20% stake in Piramal Pharma.
Consolidated Financial Highlights
P&L Performance:
- Q1 FY22 revenues of INR 2,909 Cr., broadly stable year over year
- Q1 FY22 Net Profit at INR 534 Cr., increased 8% year over year
Balance Sheet:
- Equity increased by 29% to INR 34,996 Cr. since March 2019
- 50% reduction in Net Debt by INR 27,677 Cr. since March 2019
- PEL Net Debt-to-Equity at 0.8x
DHFL Acquisition – Significant progress made in Q1 FY22:
- Resolution Plan received approval from NCLT and Monitoring Committee appointed in June 2021
- Implementation of the Resolution Plan is in progress – To be completed within 90 days of NCLT
approval, as per regulatory requirement
Business-wise Revenue Performance
Consolidated P&L
Note: Figures in previous periods might have been regrouped or restated, wherever necessary to make them comparable to current period.
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