In Week of Mar 28, 2026, Piramal Finance Ltd (Conglomerate Backed NBFC) is outperforming Nifty 500 with +25.2% relative strength. Fundamentals: Weak. On a 12-week streak.
Weekly presence in the outperformers list. Green = beating Nifty 500 by 10%+ that week.
Based on Q3 FY26 (ended December 31, 2025) earnings • Updated Feb 22, 2026
What: 51bps NIM expansion YoY with credit cost declining to 1.6% while maintaining strong AUM growth
Impact: +₹97 Cr revenue
“NIM expanded by 51 bps YoY to 6.3% - Q3 FY26 Press Release”
What: 23% YoY AUM growth with Wholesale 2.0 segment growing 35% YoY to ₹12,047 cr
Impact: +₹1934 Cr revenue
“AUM growth further improved to 23% year-on-year and is well on track to end the year over 1 lakh crores - Vikash Singhla”
What: Cost-to-income ratio improved 1000bps YoY to 42% despite ₹35 cr impact from new labor code
Impact: +₹327 Cr revenue
“Growth business opex grew by 11% year-on-year versus income growth of 30% year-on-year - Vikash Singhla”
Earnings deceleration risks from management commentary
Trigger: Continued absence of policy rate cuts
Impact: -10 bps margin impact
Management view: Cost of borrowing moderation was gradual in the third quarter as we saw no MCLR cuts at banks
Monitor: Cost of borrowing
Trigger: Deterioration in LAP segment performance
Impact: -15 bps margin impact
Management view: On LAP, this quarter gave us less reason to be anxious than the previous quarter
Monitor: LAP 90+ DPD
Key quotes from recent conference calls
“NIM expanded by 51 bps YoY to 6.3%. Growth business margins were stable quarter-on-quarter. Cost of borrowing moderation was gradual in the third quarter as we saw no MCLR cuts at banks. — Vikash Singhla”
“On LAP, this quarter gave us less reason to be anxious than the previous quarter. You saw me talk a lot about it in the previous quarter, because if you look at our Page 22, which shows our risk trajectory over the last 3, 3.5 years, you will see what has been happening to... — Jairam Sridharan”
“AUM growth further improved to 23% year-on-year and is well on track to end the year over 1 lakh crores and end the year FY28 at over 1 and a half lakh crores. — Vikash Singhla”
“Net worth stands at ₹27,872 cr with capital adequacy at 20.3% versus 20.7% in previous quarter. — Vikash Singhla”
Forward-looking targets from management for FY26
Revenue Growth Target
20%
Implied PAT Growth
15%
OPM Guidance
25%
Credit Growth Target
23%
NIM Guidance
6.3%
Key Milestones
• Cross ₹1 lakh crore AUM by FY26 end
• Reach ₹1.5 lakh crore AUM by FY28
Revenue, profit and margin growth rates
| Metric | YoY | 3Y CAGR | Trend |
|---|---|---|---|
| Revenue | +3% | +19% | Stable |
| PAT (Net Profit) | +928% | -4% | Stable |
The above analysis is parsed from publicly available earnings call transcripts. This is educational research only — not investment advice. Last updated Feb 22, 2026.
Based on publicly available financial data. This is educational research, not investment advice.
Piramal Finance Ltd's latest quarterly results (Dec 2025) show
Piramal Finance Ltd's profit is growing with an stable trend.
Piramal Finance Ltd's revenue growth trend is stable.
Piramal Finance Ltd's asset quality trend is insufficient_data.
Piramal Finance Ltd's long-term compounding rates
Piramal Finance Ltd's earnings growth is stable with positive momentum on a sequential basis.
Piramal Finance Ltd's trailing twelve month (TTM) performance
Piramal Finance Ltd appears significantly overvalued based on our fair value analysis.
Piramal Finance Ltd's current PE ratio is 36.2x.
Piramal Finance Ltd's current PE is 36.2x.
Piramal Finance Ltd's price-to-book ratio is 1.5x.
Piramal Finance Ltd is rated Weak with a fundamental score of 27/100. This score is calculated from objective financial metrics
Piramal Finance Ltd has a debt-to-equity ratio of N/A.
Piramal Finance Ltd's return ratios over recent years
Piramal Finance Ltd's operating cash flow is negative (FY2025).
Piramal Finance Ltd currently does not pay a significant dividend (yield 0.00%).
Piramal Finance Ltd's shareholding pattern (Dec 2025)
Piramal Finance Ltd's promoter holding has remained stable recently.
Piramal Finance Ltd has been outperforming Nifty 500 for 12 consecutive weeks, indicating strong sustained outperformance.
Piramal Finance Ltd is an established outperformer with 12 weeks of consecutive Nifty 500 outperformance.
Piramal Finance Ltd has 3 key growth catalysts identified from recent earnings analysis
Piramal Finance Ltd has 2 key risks worth monitoring
In Q3 FY26 (ended December 31, 2025), Piramal Finance Ltd's management highlighted
Piramal Finance Ltd's management has provided the following forward guidance for FY26
Based on quantitative research signals, here is why Piramal Finance Ltd may be worth studying
Piramal Finance Ltd investment thesis summary:
Piramal Finance Ltd's forward outlook based on current data signals
The above FAQs are generated from publicly available earnings data and conference call transcripts. This is educational research only. Sector Alpha is not SEBI registered and does not provide investment advice.
