Sector Alpha Week of 2026-09-11
Not SEBI Registered !! Not Investment advice !!
Sector Alpha — machine-written from the numbers · Data as of 2026-09-11

Piramal Enterprises Ltd(Merged)

PEL
Diversified

Piramal Enterprises Ltd(Merged)'s three tracks disagree. Price, valuation and the earnings engine each tell a different story — the next quarter or two settles it.

The sharpest disagreement: Promoters moved +2.7 points over 8 quarters while the operating story went the other way — someone close to the numbers is not convinced.

The price is in a confirmed uptrend (18 weeks in) while the P/E sits at the 75th percentile of its own 10-year range. Underneath, the last four quarters read deteriorating — profit −28.9% year on year, and 35% of the last 3 years' profit arrived as cash. What settles it: whether the register turns back in the story’s favour.

Price
₹1,124
+7.4% 1Y
P/E
61.4×
75th pctile
of its own 10-year range
Revenue (Jun 25)
₹476 Cr
−14.5% YoY
Profit (Jun 25)
₹162 Cr
−28.9% YoY
ROE
2%
FY25
Cash conversion
35%
of profit, last 3 FY
Unverified figures: Some figures on this page come from a second financial-data feed that could not be cross-checked against the primary source — the two do not share enough overlapping reported history to compare. They are drawn, because they are the only evidence there is, and every section carrying one is marked unverified.
01 · Price story

Price story Before the numbers, the tape. A stock price moves through four repeating seasons: a flat base (stage 1), an advance (2), a top (3), a decline (4). Where the price sits in that cycle frames everything below.

Piramal Enterprises Ltd(Merged) trades at ₹1,124, in a confirmed uptrend and 18 weeks into that stage. That is +2.5% against its own 200-day average. It sits at 55% of a 52-week range of ₹872 to ₹1,327. On relative strength it has been ahead of the NIFTY 500 on a trailing-13-week view for 1 straight week.

Today the stock is in a confirmed uptrend — week 18 of stage 2, confirmed. At ₹1,124 it trades +2.5% versus its 200-day average and sits at 55% of its 52-week range (₹872–₹1,327).

Sep 25: ₹1,124 Weekly closing price (₹) with 50- and 200-day averages; shaded bands mark the price stage (grey base, green advance, amber top, red decline). 3-year window.
+2.5% versus the 200-day line, week 18 of stage 2
Price50-day avg200-day avg
S4S2S4S2S4S2₹1,381₹1,185₹988₹792₹595₹1,124₹1,096Sep 22Jun 23Mar 24Dec 24Sep 25
S4S2S4S2S4S2₹1,381₹1,185₹988₹792₹595₹1,124₹1,096Sep 22Mar 24Sep 25
Beating or trailing, week by week since 2016 Each cell is one week from 2016 to now (496 weeks): the stock's trailing 13-week return minus the NIFTY 500's, green ahead / red behind (±25% ramp). Grey cells are the 13-week warm-up or weeks where the NIFTY 500 reading is not held.
trailing 13-week return vs the NIFTY 500
Apr 16Sep 25

Against the market, two honest reads. Cumulative: over the last 9.5 years the stock moved +93% while the NIFTY 500 moved +259% — behind the index over the full window. Recent form: on a trailing-13-week view the stock has been ahead for 1 straight week — the ribbon below is that same metric, week by week.

What would end the trend, mechanically: two Friday closes in a row below the 200-day line. That is the exit rule — no debates.

02 · Valuation

Valuation P/E is the price of ₹1 of annual profit: how many rupees the market pays for each rupee the company earns in a year.

Piramal Enterprises Ltd(Merged) trades at 61.4× P/E, at the pricey end of its own range (75th percentile). Its long-run median P/E is 42.3×, measured across 9.5 years of weekly readings. This places the multiple against the stock’s own record, and says nothing about what the business is worth.

Today's P/E of 61.4× is at the pricey end of its own range (75th percentile), against a long-run median of 42.3× measured over 9.5 years of weekly readings. This is a comparison against the stock's own history — not a claim about what it is worth.

P/E 61.4× vs a 42.3× long-run median P/E, weekly (left axis); earnings per share, trailing twelve months, weekly (right axis). 9.5-year window; loss-period spikes above 119× shown pinned at the top. The eps (ttm) bars are red where the reading is lower than the quarter before.
at the pricey end of its own range (75th percentile)
P/EMedianEPS (TTM) (quarterly)
128.4×₹15596.3×₹11664.2×₹77.432.1×₹38.70.0×₹0.0×61.20×₹18Apr 16Jun 18Sep 20Jul 23Sep 25
128.4×₹15596.3×₹11664.2×₹77.432.1×₹38.70.0×₹0.0×61.20×₹18Apr 16Sep 20Sep 25
P/E
61.4×
75th percentile of 10y

Why the multiple sits where it does: over the past year annual EPS moved +5.9% against a +7.4% price move — the price outran earnings, pushing the multiple UP its own range.

The price move, decomposed: over 5y, of the +9.7%/yr price move, ~+14.6%/yr came from earnings growth and ~−4.9 pp from the multiple (compressing). The split is the honest approximate (price return minus earnings growth); it makes the rally itself visible instead of hiding it behind the percentile.

Put together: the multiple is full against its own past, so the story rests on the earnings line underneath it, not the multiple.

03 · What the price assumes

What the price assumes This reading works the multiple backwards. It asks one question: what yearly rate of profit growth is a buyer at the market price already paying for? The number is the growth rate that makes eleven years of profit — six years growing, then five fading — add up to that day's market price, once each year is discounted at 11% a year.

Solved at its 13 June 2026 price, Piramal Enterprises Ltd(Merged) was paying for profit growth of about 27.5% a year. Profit itself has compounded 3.1% a year over the past 10 years. Today the market pays 61.4× P/E, the 75th percentile of its own 10-year range.

What the two numbers say together. The multiple is full against its own past, and the growth the price is paying for is far above what this company has actually delivered.

How to hold this number: it is a reading of one day's price, taken on 13 June 2026, not a running figure — every other number on this page, the multiple included, is read off the live quote as of 11 September 2026. A higher price is paying for more growth and a lower price for less, so it moves whenever the price does, and this page does not restate it between measurements.

04 · Stage: No read

Stage: No read Every business sits somewhere on a fundamental arc, and this page names the spot before anything else. The last twelve quarters of revenue, profit and EPS growth — plus the return the business earns on its capital — are read as curves: Deteriorating (the curves are falling), Turning around (a trough has just formed and the last few quarters lift off it), Improving (the climb off the trough is sustained), Consistent (steadily positive with healthy returns), Topping out (still high but decelerating from the peak). When the curves genuinely disagree the read is Mixed; too little history is No read. CAGR (compound annual growth rate) is the smooth yearly pace that turns the starting value into the latest one — the fairest way to compare growth across different time spans. Read the columns together: if the 1-year number towers over the 10-year, recent growth is running hotter than the long-run trend. A dash means that window is not held, or the base year was a loss (where a growth rate is not meaningful).

Piramal Enterprises Ltd(Merged) reads as no read on its fundamental arc. Under eight usable quarters on the growth trio — not enough history for an honest trajectory read. The read is built from 9 quarters across 2 curves, on partial evidence.

Growth, year by year: revenue −42.3% in FY25, profit +6.3% Year-over-year growth per fiscal year, %: revenue (left axis); net profit and EPS (right axis — profit growth swings far wider). Zero line drawn. Turnaround-year spikes shown pinned (▲).
Revenue YoYProfit YoYEPS YoY
86%345%51%181%17%16%−17%−148%−52%−313%%%−42.3%6.3%FY15FY20FY25
86%345%51%181%17%16%−17%−148%−52%−313%%%−42.3%6.3%FY15FY20FY25
Three growth curves, twelve quarters Year-on-year growth of trailing-twelve-month revenue (left axis), profit and EPS (right axis — they swing far wider), % at each quarter-end. Where the trailing-twelve-month history is short, the curve falls back to single-quarter year-on-year growth — noisier, and the classifier smooths and caps base-effect spikes before reading. Base-effect spikes shown pinned (▲). A missing point means that reading is not held for the quarter.
the trajectory the stage is read from · revenue accelerating, profit accelerating
RevenueProfitEPS
331%335%220%208%108%82%0.0%−45%−114%−172%%%−14.5%−28.9%250.6%Sep 22Dec 23Jun 25
331%335%220%208%108%82%0.0%−45%−114%−172%%%−14.5%−28.9%250.6%Sep 22Dec 23Jun 25
ROE Annual readings — the quarterly balance-sheet pieces this curve needs are not held for this stock, so the returns read moves once a year and carries less weight in the call.
the return curve, annual readings
ROE
11%8.3%6.0%3.7%1.4%%2%FY22FY23FY25
11%8.3%6.0%3.7%1.4%%2%FY22FY23FY25
Revenue growth
Flat
latest −14.5% · span −83.1% to +100.0%
ROE
Stuck low
latest 2.0% · span 2.0%–10.0%

Why it matters: with too little history, an honest page says so instead of guessing a trajectory.

One or more growth curves carry a base-effect spike — a large year-on-year move off a near-zero or loss-making comparable quarter. Those spikes are capped before the classifier reads the trajectory, and shown pinned on the chart, so a single distorted quarter does not drive the stage call.

Return readings here are annual, not quarterly — read as level and direction only; they can confirm the growth curves but never drive the stage on their own.

Fewer than eight usable quarters on the growth curves — this page will not guess a trajectory from a stub of history.

Compound annual growth rate (%) Compound annual growth rate over each window, %. Revenue, profit and EPS from fiscal-year figures; share price is the price CAGR over the same spans. A dash = that window is not held, or the base was a loss.
1yr3yr5yr10yr
Revenue−42.3%−7.0%−1.0%−0.9%
Profit+6.3%−20.4%+28.3%+3.1%
EPS+5.9%−18.8%+28.3%+2.0%
Share price+7.4%+5.6%+9.7%
Revenue YoY (Jun 25)
−14.5%
latest quarter vs a year ago
Profit YoY (Jun 25)
−28.9%
latest quarter vs a year ago
Revenue 10y
−0.9%
long-run compound pace
05 · 4-Factor Sector Score

4-Factor Sector Score

45.1/100 — rank 19 of 20 in Diversified · 41% evidence confidence · provisional, ranked below fully-evidenced peers

Piramal Enterprises Ltd(Merged) scores 45.1 out of 100 against the 20 companies it is compared with in Diversified, ranking 19. Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.

The four contributions add to the total exactly: 16.7 + 11.1 + 9.6 + 7.7 = 45.1. This is the SAME number shown on the sector comparison — it is computed once, for the whole peer set, and read here.

What would change it: The read weakens if profit growth turns negative or margin improvement reverses while sector-relative strength deteriorates.

06 · Revenue

Revenue Revenue is the top line: everything the company billed its customers in the period.

Piramal Enterprises Ltd(Merged) reported ₹476 Cr of revenue in the Jun 25 quarter, −14.5% year on year. Over 10 years it has compounded at −0.9% a year. The last full year, FY25, came in at ₹2,188 Cr. The last four reported quarters add to ₹2,025 Cr.

FY25 revenue came in at ₹2,188 Cr (−42.3% on the year), capping 10 years at −0.9% compound. The latest quarter (Jun 25) printed ₹476 Cr, −14.5% year on year.

FY25 revenue ₹2,188 Cr (−42.3% YoY) Revenue bars, ₹ Cr (left); YoY growth-% line (right). 11-year window. A bar is red when it is lower than the year before.
−0.9% a year over 10 years
RevenueYoY growth
5.2k86%3.9k51%2.6k17%1.3k−17%0−52%₹ Cr%₹2,188−42.3%FY15FY20FY25
5.2k86%3.9k51%2.6k17%1.3k−17%0−52%₹ Cr%₹2,188−42.3%FY15FY20FY25
Jun 25: ₹476 Cr (−14.5% YoY) Quarterly revenue bars, ₹ Cr (left); YoY growth-% line (right). Last 12 quarters. A bar is red when it is lower than the quarter before.
Revenue (quarterly)YoY growth
4.1k747%3.0k524%2.0k301%1.0k78%0−145%₹ Cr%₹476−14.5%Sep 22Dec 23Jun 25
4.1k747%3.0k524%2.0k301%1.0k78%0−145%₹ Cr%₹476−14.5%Sep 22Dec 23Jun 25

Pace check: the last four quarters averaged −24.2% growth against the decade's −0.9% — the current year is running slower than its own long-run rate.

Acceleration check: trailing-twelve-month revenue grew −35.5% over the last 4 quarters against −38.8%/yr over the last 8 — accelerating; TTM profit +250.4% vs −63.9%/yr — accelerating.

07 · Operating margin

Operating margin Operating margin is what is left of every ₹100 of sales after running the business, before interest and tax. It is the cleanest read on pricing power and cost control.

A clean operating margin is not in our numbers for Piramal Enterprises Ltd(Merged) — its accounts do not report the operating-profit line this section reads, which is common for lenders and holding companies. The sections above and below carry the readings this company's filings do support.

This company's accounts do not report the operating-profit line this section reads — common for lenders and holding companies classified outside the financial bucket. The revenue and net-profit sections are the cleaner reads for Piramal Enterprises Ltd(Merged).

🚨 Why the margin moved: operating margin went −9.8 pp year on year while gross margin went +0.0 pp — the loss came mostly below the gross line: operating leverage, with costs spread over a bigger revenue base.

08 · Net profit

Net profit Net profit is what survives every cost, interest and tax — the number EPS, dividends and book value all grow from.

Piramal Enterprises Ltd(Merged) earned ₹162 Cr of net profit in the Jun 25 quarter, −28.9% year on year. Full-year FY25 profit was ₹504 Cr. The 10-year compound rate is 3.1%. That is 34.0% of the quarter's revenue. The same quarter a year earlier earned ₹228 Cr. 4 of the last 12 reported quarters were loss-making.

Jun 25 profit was ₹162 Cr, −28.9% year on year. On the full year, FY25 printed ₹504 Cr (+6.3%), and the 10-year compound rate is 3.1%.

FY25 profit ₹504 Cr (+6.3% YoY) Net profit bars, ₹ Cr (left); YoY growth-% line (right). 11-year window. A bar is red when it is lower than the year before.
3.1% a year over 10 years
Net profitYoY growth
15.5k2,608%11.1k1,836%6.7k1,064%2.3k292%−2.1k−481%₹ Cr%₹5046.3%FY15FY20FY25
15.5k2,608%11.1k1,836%6.7k1,064%2.3k292%−2.1k−481%₹ Cr%₹5046.3%FY15FY20FY25
Jun 25: ₹162 Cr (−28.9% YoY) Quarterly net profit bars, ₹ Cr (left); YoY growth-% line (right). Last 12 quarters. A bar is red when it is lower than the quarter before.
Net profit (quarterly)YoY growth
3.2k4,079%2.1k2,947%9161,815%−230683%−1.4k−449%₹ Cr%₹162−28.9%Sep 22Dec 23Jun 25
3.2k4,079%2.1k2,947%9161,815%−230683%−1.4k−449%₹ Cr%₹162−28.9%Sep 22Dec 23Jun 25

Pace comparison, last four quarters: profit +1,211.8% vs revenue −24.2%. Profit is growing faster than sales — fixed costs are being spread over a bigger base, and each extra rupee of revenue drops more to the bottom line.

09 · Cash flow — the router

Cash flow — the router The P&L says what was earned; the cash-flow statement says what actually arrived. Operating cash flow (CFO) against profit is the cleanest lie detector in the accounts.

Over the last 3 fiscal years 35% of Piramal Enterprises Ltd(Merged)'s reported profit arrived as operating cash — a gap worth watching. In FY25 that was ₹454 Cr of operating cash against ₹504 Cr of profit. After ₹49.0 Cr of capital spending, ₹405 Cr was left as free cash.

FY25: operating cash of ₹454 Cr against reported profit of ₹504 Cr, leaving free cash of ₹405 Cr after ₹49.0 Cr of capital spending. Across the last 3 fiscal years the conversion rate is 35% of profit.

Cash-flow readings here are annual — that is the resolution our series carries, so this section moves once a year.

FY25: CFO ₹454 Cr vs profit ₹504 Cr Operating cash flow and net profit by fiscal year, ₹ Cr; the line is free cash flow (CFO minus capital spending). 11-year window, annual resolution.
35% of 3-year profit arrived as cash
Operating cashNet profitFree cash
16.1k9.8k3.4k−2.9k−9.2k₹ Cr₹454₹504₹405FY15FY20FY25
16.1k9.8k3.4k−2.9k−9.2k₹ Cr₹454₹504₹405FY15FY20FY25
FY25: CFO = 90% of profit (three-year rate 35%) Operating cash as a share of net profit, per fiscal year, % (line). Dashed line = 100% — every unit of profit arriving as cash; outlier years shown pinned.
Conversion100%
400%38%−324%−686%−1,048%%90%FY15FY20FY25
400%38%−324%−686%−1,048%%90%FY15FY20FY25

🚨 Why: conversion is measured cleanly, but the working-capital day-counts behind it sit below what we hold — the move is shown without inventing its driver.

Router verdict: the visible cash user is investment — the next section checks what the spending is buying.

10 · Where the cash goes

Where the cash goes Working capital is the cash tied up between paying suppliers and getting paid: debtor days (customers owe), inventory days (stock waits), and the cash conversion cycle (the whole loop, in days of sales).

Piramal Enterprises Ltd(Merged) does not report the debtor, inventory and payable day-counts a cash cycle is built from, so this section reads the investment side instead. Capital spending ran ₹55.0 Cr over the last 3 years. Averaged over those years that is 0.8% of FY25 revenue a year.

Working-capital day-counts are not in our numbers for this stock, so this section reads the investment side — where the cash is being put to work.

On the investment side: capital spending of ₹55.0 Cr over the last 3 fiscal years against ₹714 Cr of depreciation — spending at or below maintenance level. Capital work-in-progress stands at ₹42.0 Cr (FY25) — capacity paid for but not yet earning.

FY25: capex ₹49.0 Cr, work-in-progress ₹42.0 Cr Capital spending per fiscal year, ₹ Cr (bars); capital work-in-progress, ₹ Cr (line). Quarterly capital-spending history is not held for India — annual is the honest resolution.
steady investment
CapexWork-in-progress
810462115−233−581₹ Cr₹49₹42FY15FY17FY20FY22FY25
810462115−233−581₹ Cr₹49₹42FY15FY20FY25

The synthesis: the cash is going into capacity, not disappearing into the cycle — the question becomes whether the new capacity earns.

11 · Return on equity

Return on equity Return on equity (ROE) is the profit the business earns on its shareholders’ money. With the full capital-employed split not in our numbers, ROE is the cleanest long ladder we can draw here.

Piramal Enterprises Ltd(Merged) earns a ROE of 2% in FY25. That is up from a trough of −3% in FY14. A return-on-invested-capital spread against the cost of capital is not computable from what is held here. The wiring behind it is 23.0% net margin on 0.07× asset turns.

FY25 ROE is 2%, recovered from a FY14 trough of −3% — the full ladder below shows the fall and the climb, undoctored.

Why the return is what it is — the wiring (FY25): 23.0% net margin × 0.07× asset turns × 1.40× balance-sheet leverage ≈ 2.3% on equity. Margin is doing the heavy lifting; leverage is modest — this is an earned return, not a borrowed one.

FY25: ROE 2% Return on equity by fiscal year, % (line). 12-year window, dips included. Dashed line = the 12.0% cost of capital used on this page.
the climb back from FY14's −3%
ROEWACC
13%8.8%4.5%0.0%−4.2%%2%FY14FY16FY19FY22FY25
13%8.8%4.5%0.0%−4.2%%2%FY14FY19FY25
12 · Debt

Debt Debt-to-equity says how much of the business is funded by borrowings; interest cover says how many times operating profit pays the interest bill. Low and high, respectively, is the safe corner.

Piramal Enterprises Ltd(Merged) carries ₹8,451 Cr of borrowings against ₹21,968 Cr of equity in FY25, a debt-to-equity of 0.38. Over 5 years borrowings went from ₹10,618 Cr to ₹8,451 Cr. Capital spending ran ₹55.0 Cr across the last 3 of those years.

FY25: borrowings of ₹8,451 Cr against equity of ₹21,968 Cr — a debt-to-equity of 0.38. Over 5 years borrowings went from ₹10,618 Cr to ₹8,451 Cr while capital spending ran ₹55.0 Cr in just the last 3 — the build-out is being paid for out of cash, not debt.

FY25: borrowings ₹8,451 Cr at 0.38× equity Borrowings by fiscal year, ₹ Cr (bars); debt-to-equity, × (line). 12-year window. Quarterly balance-sheet history is not held for India — annual is the honest resolution.
debt is falling while the business grows
BorrowingsDebt-to-equity
18.9k1.1×14.2k0.9×9.4k0.7×4.7k0.5×00.2×₹ Cr×₹8,4510.38×FY14FY16FY19FY22FY25
18.9k1.1×14.2k0.9×9.4k0.7×4.7k0.5×00.2×₹ Cr×₹8,4510.38×FY14FY19FY25
13 · Ownership

Ownership Who owns the stock, quarter by quarter: promoters (the controlling owners), foreign and domestic institutions, and the public. Steady accumulation by people close to the numbers is a signal; a quiet register is also an answer.

Foreign institutions cut 10.8 points of Piramal Enterprises Ltd(Merged) over 8 quarters, the biggest move on the register. That takes foreign institutions to 15.2% of the company. Domestic institutions moved +3.3 points over the same window, to 15.2%. The register is read on the four disclosed classes only; nothing is inferred between filings.

The register over the last two years — Foreign institutions: −10.8 points over 8 quarters to 15.2%; Domestic institutions: +3.3 points over 8 quarters to 15.2%; Promoters: +2.7 points over 8 quarters to 46.2%.

Why the register moved: rotation — foreign institutions −10.8 points against domestic institutions +3.3 points over 8 quarters, with promoters +2.7 points — one class of institutions handing the register to the other, not a verdict change by the people closest to the numbers.

Fiscal-year ends: promoters +2.9 pts from Mar 23 to Mar 25 Shareholding at each fiscal-year end (March quarter), % of the company. 3 year-ends held.
PromotersForeign inst.Domestic inst.Public
49%39%28%17%6.6%%46.4%16.1%14.3%22.8%Mar 23Mar 24Mar 25
49%39%28%17%6.6%%46.4%16.1%14.3%22.8%Mar 23Mar 24Mar 25
Foreign institutions cut 10.8 points over 8 quarters Shareholding by holder class, % of the company, quarterly, last 12 quarters.
PromotersForeign inst.Domestic inst.Public
49%38%27%16%4.8%%46.2%15.2%15.2%22.8%Sep 22Dec 23Jun 25
49%38%27%16%4.8%%46.2%15.2%15.2%22.8%Sep 22Dec 23Jun 25
14 · Safety line

Safety line The Z-score estimates how far a company sits from balance-sheet distress — above roughly 3 is safe, below roughly 1.8 is the danger zone. It was built for manufacturers, so it is not applied to banks and lenders.

Piramal Enterprises Ltd(Merged): the Z-score is not available for this stock, so we say so rather than invent one. It is a distance-to-distress estimate from the balance sheet, not a forecast of failure. The debt, cash-flow and return sections above carry the balance-sheet evidence this page does hold, and each of them states its own reporting date.

The safety line in one sentence: the Z-score is not available for this stock, so we say so rather than invent one.

15 · Related companies · Diversified
CompanyScorePrice stageGrowth & earnings/35Capital efficiency/25Valuation/20Relative strength/20
1Sobhagya Mercantile Ltd512014 62.8/100Mixed-positive evidence75% evidence BREAKING OUT 15.9/35 Revenue 21.9% · PAT 8.1% · OPM change -0.5 pp 95% evidence 19.1/25 ROCE 23.4% · OPM 14.4% 76% evidence 9.3/20 P/E 70.7× · PEG — 15% evidence 18.5/20 RS sector 45.9% · RS bench 52.9% · 1Y 54.3%6 of 12 weeks ahead 100% evidence
Exact sum: 15.9 + 19.1 + 9.3 + 18.5 = 62.8 · Decision use: Price leads the evidence: RS versus the benchmark is 52.9%, but earnings trajectory is weak. Wait for revenue and profit confirmation.
2Kalind Ltd526935 60.5/100Mixed-positive evidence82% evidence 30.6/35 Revenue 100% · PAT 100% · OPM change 21 pp 95% evidence 18.2/25 ROCE 32% · OPM 63% 76% evidence 11.1/20 P/E 13.9× · PEG — 50% evidence 0.6/20 RS sector -89.7% · RS bench -36.7% · 1Y -77%0 of 8 weeks ahead to 2026-08-16 100% evidence
Exact sum: 30.6 + 18.2 + 11.1 + 0.6 = 60.5 · Decision use: Acceleration candidate, not a confirmed leader: earnings are strong but sector-relative strength is -89.7% and the one-year return is -77%. Do not upgrade until sector-relative strength is above zero and another reported period confirms growth.
3Grasim Industries LtdGRASIM 60.0/100Mixed-positive evidence82% evidence LEADER 24.3/35 Revenue 19.5% · PAT 33.1% · OPM change 1 pp 95% evidence 13.1/25 ROCE 8% · OPM 23% 76% evidence 6.8/20 P/E 38.9× · PEG — 50% evidence 15.8/20 RS sector 8.6% · RS bench 14% · 1Y 17%10 of 12 weeks ahead 100% evidence
Exact sum: 24.3 + 13.1 + 6.8 + 15.8 = 60 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
4BCL Industries LtdBCLIND 57.1/100Mixed-positive evidence87% evidence ASLEEP 20.1/35 Revenue -13.1% · PAT 15.2% · OPM change 3 pp 95% evidence 14.9/25 ROCE 13.9% · OPM 10% 95% evidence 13.1/20 P/E 8.7× · PEG — 50% evidence 9.0/20 RS sector -2.8% · RS bench 2% · 1Y -15.6%5 of 12 weeks ahead 100% evidence
Exact sum: 20.1 + 14.9 + 13.1 + 9 = 57.1 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
5Indiabulls LimitedIBULLSLTD 56.0/100Mixed-positive evidence67% evidence LEADER 18.4/35 Revenue 100% · PAT 100% · OPM change 28 pp 71% evidence 14.1/25 ROCE 16.2% · OPM 43% 76% evidence 10.6/20 P/E 12.6× · PEG — 15% evidence 12.9/20 RS sector 33.2% · RS bench 38.6% · 1Y 34.9%12 of 12 weeks ahead 100% evidence
Exact sum: 18.4 + 14.1 + 10.6 + 12.9 = 56 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
6Balmer Lawrie & Company LtdBALMLAWRIE 54.3/100Mixed-positive evidence82% evidence BASING 17.1/35 Revenue 8.9% · PAT 3.8% · OPM change 1 pp 95% evidence 15.1/25 ROCE 14.6% · OPM 13% 76% evidence 14.5/20 P/E 10.3× · PEG — 50% evidence 7.6/20 RS sector -10.7% · RS bench -6.1% · 1Y -25.7%1 of 12 weeks ahead 100% evidence
Exact sum: 17.1 + 15.1 + 14.5 + 7.6 = 54.3 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
7Nurture Well Industries Ltd531889 52.6/100Mixed-positive evidence75% evidence TURNING 19.8/35 Revenue 34% · PAT 27% · OPM change 1 pp 95% evidence 16.5/25 ROCE 22.9% · OPM 11% 76% evidence 11.5/20 P/E 8.4× · PEG — 15% evidence 4.8/20 RS sector -33.6% · RS bench -29.8% · 1Y 14.9%1 of 12 weeks ahead 100% evidence
Exact sum: 19.8 + 16.5 + 11.5 + 4.8 = 52.6 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
8Texmaco Infrastructure & Holdings LtdTEXINFRA 51.9/100Mixed-positive evidence80% evidence LEADER 18.9/35 Revenue 5.5% · PAT 100% · OPM change -37.9 pp 95% evidence 7.4/25 ROCE 1.4% · OPM -48.8% 95% evidence 8.5/20 P/E 162× · PEG — 15% evidence 17.1/20 RS sector 10% · RS bench 15.5% · 1Y 22.5%11 of 12 weeks ahead 100% evidence
Exact sum: 18.9 + 7.4 + 8.5 + 17.1 = 51.9 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
93M India Ltd3MINDIA 51.2/100Mixed-positive evidence94% evidence FADING 21.9/35 Revenue 15.7% · PAT 16.1% · OPM change -3 pp 100% evidence 18.7/25 ROCE 50% · OPM 17% 100% evidence 1.8/20 P/E 83.6× · PEG 3.29 100% evidence 8.8/20 RS sector -3.7% · RS bench -0.7% · 1Y 7.7%4 of 10 weeks ahead 70% evidence
Exact sum: 21.9 + 18.7 + 1.8 + 8.8 = 51.2 · Decision use: Strong business, demanding price: keep it on the quality list, but require either earnings upgrades or valuation compression.
10Bluspring Enterprises LtdBLUSPRING 44.0/100Thin evidence · provisional57% evidence BREAKING OUT 18.8/35 Revenue 11.8% · PAT 90.6% · OPM change 0.7 pp 71% evidence 4.2/25 ROCE 5.2% · OPM 2.2% 95% evidence 8.7/20 P/E 130× · PEG — 15% evidence 12.3/20 RS sector — · RS bench 65.6% · 1Y 63.2%10 of 10 weeks ahead 25% evidence
Exact sum: 18.8 + 4.2 + 8.7 + 12.3 = 44 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
11Nava LtdNAVA 42.4/100Mixed-negative evidence93% evidence BASING 10.0/35 Revenue 9% · PAT -29.9% · OPM change -6 pp 100% evidence 13.1/25 ROCE 12.8% · OPM 43% 100% evidence 12.9/20 P/E 20.6× · PEG 1.16 65% evidence 6.4/20 RS sector -9.8% · RS bench -5.3% · 1Y -18.7%1 of 12 weeks ahead 100% evidence
Exact sum: 10 + 13.1 + 12.9 + 6.4 = 42.4 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
12Tube Investments of India LtdTIINDIA 37.5/100Mixed-negative evidence100% evidence ASLEEP 15.6/35 Revenue 17.6% · PAT 6.6% · OPM change -1 pp 100% evidence 15.4/25 ROCE 17.1% · OPM 9% 100% evidence 3.0/20 P/E 80.5× · PEG 9.63 100% evidence 3.5/20 RS sector -10.7% · RS bench -6.2% · 1Y -12.8%3 of 12 weeks ahead 100% evidence
Exact sum: 15.6 + 15.4 + 3 + 3.5 = 37.5 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
13Bharat Global Developers LtdBGDL 37.4/100Mixed-negative evidence63% evidence 8.2/35 Revenue -80% · PAT -80% · OPM change 4.2 pp 95% evidence 7.2/25 ROCE 0% · OPM — 61% evidence 10.0/20 P/E — · PEG — 0% evidence 12.0/20 RS sector 165.8% · RS bench -36.8% · 1Y -47.4%0 of 12 weeks ahead 70% evidence
Exact sum: 8.2 + 7.2 + 10 + 12 = 37.4 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
14Andrew Yule & Company LtdANDREWYU 36.1/100Mixed-negative evidence66% evidence TURNING 14.9/35 Revenue -4.8% · PAT -80% · OPM change 25.9 pp 95% evidence 3.7/25 ROCE -6.3% · OPM -23.4% 76% evidence 10.0/20 P/E — · PEG — 0% evidence 7.5/20 RS sector -37% · RS bench 9.7% · 1Y -1.1%6 of 11 weeks ahead 70% evidence
Exact sum: 14.9 + 3.7 + 10 + 7.5 = 36.1 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
15Kesar Enterprises LtdKESAR 35.0/100Thin evidence · provisional51% evidence 14.4/35 Revenue -9% · PAT 34.7% · OPM change -22132 pp 62% evidence 4.9/25 ROCE -19.5% · OPM — 61% evidence 10.0/20 P/E — · PEG — 0% evidence 5.7/20 RS sector -44.4% · RS bench 0% · 1Y -39.1%0 of 12 weeks ahead 70% evidence
Exact sum: 14.4 + 4.9 + 10 + 5.7 = 35 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
16Swan Corp LtdSWANCORP 29.0/100Adverse evidence69% evidence BASING 8.7/35 Revenue -16.7% · PAT -67.2% · OPM change -2.6 pp 95% evidence 5.7/25 ROCE -0.6% · OPM -0.4% 76% evidence 9.8/20 P/E 41.6× · PEG — 15% evidence 4.8/20 RS sector -29.3% · RS bench -20.1% · 1Y -34.9%0 of 10 weeks ahead 70% evidence
Exact sum: 8.7 + 5.7 + 9.8 + 4.8 = 29 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
17Integrated Industries LtdIIL 63.8/100Thin evidence · provisional50% evidence 20.5/35 Revenue 60.5% · PAT 94.6% · OPM change 2 pp 53% evidence 16.4/25 ROCE 30.5% · OPM 11% 57% evidence 10.9/20 P/E 11.6× · PEG — 15% evidence 16.0/20 RS sector 51.9% · RS bench 63.7% · 1Y 136.8%11 of 12 weeks ahead to 2026-03-08 70% evidence
Exact sum: 20.5 + 16.4 + 10.9 + 16 = 63.8 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
18Arunis Abode LtdARUNIS 50.8/100Thin evidence · provisional45% evidence 15.2/35 Revenue 100% · PAT 100% · OPM change -17.7 pp 40% evidence 9.5/25 ROCE -5.3% · OPM 28.5% 57% evidence 9.4/20 P/E 62.5× · PEG — 15% evidence 16.7/20 RS sector 131.3% · RS bench 136.7% · 1Y 224%12 of 12 weeks ahead to 2026-03-08 70% evidence
Exact sum: 15.2 + 9.5 + 9.4 + 16.7 = 50.8 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
19Piramal Enterprises Ltd(Merged)this pagePEL 45.1/100Thin evidence · provisional41% evidence 16.7/35 Revenue -35.5% · PAT 100% · OPM change -9.8 pp 27% evidence 11.1/25 ROCE 4.9% · OPM 77.4% 57% evidence 9.6/20 P/E 61.4× · PEG — 15% evidence 7.7/20 RS sector -20.3% · RS bench 1% · 1Y 3.7%6 of 12 weeks ahead to 2025-09-24 70% evidence
Exact sum: 16.7 + 11.1 + 9.6 + 7.7 = 45.1 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
20Rossell India LtdROSSELLIND 42.6/100Thin evidence · provisional47% evidence 14.8/35 Revenue 4.8% · PAT -41.1% · OPM change 0.1 pp 36% evidence 11.7/25 ROCE 6.4% · OPM 10.7% 71% evidence 10.8/20 P/E 11.8× · PEG — 15% evidence 5.3/20 RS sector -28.8% · RS bench -19.6% · 1Y -32%0 of 12 weeks ahead to 2026-03-29 70% evidence
Exact sum: 14.8 + 11.7 + 10.8 + 5.3 = 42.6 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.

Missing observations are not scored as bad. Their missing weight lowers confidence and pulls the final score toward neutral. PEG is not shown when the ratio cannot mean anything: the company must be making a profit, its price-to-earnings must be positive, and its three-year earnings growth must fall between 5% and 60%. Dividing a price multiple by a loss, or by growth measured off a tiny base, produces a number that looks precise and tells you nothing. Under relative strength, one mark per week shows the last 12 weeks: a mark is filled where the company led NIFTY 500 by 5% or more over the 13 weeks ending that week, which is the same test used everywhere on this site. Price stage places the company on the same six-step curve the sector itself is placed on — basing, turning, breaking out, leader, fading, asleep — read from how many weeks running it has led NIFTY 500 and whether that lead is widening or shrinking. It describes where the PRICE stands, not the earnings trajectory and not a recommendation, and it is left blank for a company whose weekly history is too short or too stale to read.

16 · Frequently asked questions

Frequently asked questions

What is Piramal Enterprises Ltd(Merged)'s share price today?

Piramal Enterprises Ltd(Merged) trades at ₹1,124, +7.4% over the past year. The company is valued at ₹25,483 Cr. The stock sits at 55% of its 52-week range of ₹872–₹1,327, +2.5% versus its 200-day average. On the tape, the price is in a confirmed uptrend, 18 weeks in. — as of 11 September 2026.

What were Piramal Enterprises Ltd(Merged)'s latest quarterly results?

Piramal Enterprises Ltd(Merged) reported revenue of ₹476 Cr and net profit of ₹162 Cr for the Jun 25 quarter. Revenue fell 14.5% and profit fell 28.9% year on year. Earnings per share were ₹7.16. — as of 11 September 2026.

What is Piramal Enterprises Ltd(Merged)'s revenue?

Piramal Enterprises Ltd(Merged) reported revenue of ₹476 Cr in the Jun 25 quarter, −14.5% year on year. For the full FY25 fiscal year, revenue was ₹2,188 Cr (−42.3%). Over the last 10 years revenue compounded at −0.9% a year. — as of 11 September 2026.

What is Piramal Enterprises Ltd(Merged)'s profit?

Piramal Enterprises Ltd(Merged) earned ₹162 Cr of net profit in the Jun 25 quarter, −28.9% year on year. Full-year FY25 profit was ₹504 Cr. — as of 11 September 2026.

What is Piramal Enterprises Ltd(Merged)'s market cap?

Piramal Enterprises Ltd(Merged)'s market capitalisation is ₹25,483 Cr at a share price of ₹1,124. Market cap is the share price multiplied by shares outstanding, so it is restated whenever the price moves. — as of 11 September 2026.

What is Piramal Enterprises Ltd(Merged)'s P/E ratio?

Piramal Enterprises Ltd(Merged) trades at a P/E of 61.4×, at the 75th percentile of its own 10-year range, against a long-run median of 42.3×. This is a comparison with the stock's own history, not a value call — as of 11 September 2026.

Does Piramal Enterprises Ltd(Merged) pay a dividend?

Yes — Piramal Enterprises Ltd(Merged)'s dividend payout was 49% of profit in FY25, and it recorded a payout in 10 of its last 12 reported fiscal years. 2 of those years show a negative ratio because profit itself was negative. This page holds the payout ratio, not a per-share amount. — as of 11 September 2026.

Is Piramal Enterprises Ltd(Merged) overvalued?

On its own history, Piramal Enterprises Ltd(Merged) looks expensive: its P/E of 61.4× sits at the 75th percentile of its 10-year range (long-run median 42.3×). That is a percentile read against the stock's own past, not a price opinion or a direction call. — as of 11 September 2026.

Is Piramal Enterprises Ltd(Merged) growing?

Not right now — Piramal Enterprises Ltd(Merged)'s latest numbers are shrinking: latest-quarter revenue −14.5% year on year, profit −28.9%. The 10-year compound rates are −0.9% (revenue) and 3.1% (profit). The earnings engine currently reads: deteriorating — as of 11 September 2026.

How is Piramal Enterprises Ltd(Merged) performing?

Piramal Enterprises Ltd(Merged) is in a confirmed uptrend, 18 weeks in. Its latest quarter's revenue fell 14.5% and profit fell 28.9% year on year. Against the NIFTY 500 it has been ahead on a trailing-13-week view for 1 week. This describes what the data did, not a rating. — as of 11 September 2026.

Is Piramal Enterprises Ltd(Merged) in an uptrend?

Yes — the price is in a confirmed uptrend (week 18 of stage 2), trading +2.5% versus its 200-day average and at 55% of its 52-week range. Price stages cycle base → advance → top → decline, and the stage names where this stock sits in that cycle — as of 11 September 2026.

Is Piramal Enterprises Ltd(Merged) beating the market?

On recent form, yes — Piramal Enterprises Ltd(Merged) has been ahead of the NIFTY 500 on a trailing-13-week view for 1 straight week, the same metric the week-by-week ribbon on this page draws. Separately, on the cumulative view: over the last 9.5 years the stock moved +93% against the NIFTY 500's +259% — behind the index over the full window. — as of 11 September 2026.

Will Piramal Enterprises Ltd(Merged)'s share price go up?

This page publishes no price forecast for Piramal Enterprises Ltd(Merged). What it measures instead: the share price is ₹1,124, the price is in a confirmed uptrend 18 weeks in. Its P/E of 61.4× sits at the 75th percentile of its own 10-year range. — as of 11 September 2026.

Who owns Piramal Enterprises Ltd(Merged)?

Promoters hold 46.2% of Piramal Enterprises Ltd(Merged), foreign institutions 15.2%, domestic institutions 15.2% and the public 22.8% (latest quarter). The biggest move on the register over the last two years: Foreign institutions cut 10.8 points over 8 quarters. — as of 11 September 2026.

Does Piramal Enterprises Ltd(Merged) have too much debt?

It is moderate — Piramal Enterprises Ltd(Merged)'s debt-to-equity is 0.38. FY25 borrowings were ₹8,451 Cr against equity of ₹21,968 Cr. Read the returns on this page with that leverage in mind — as of 11 September 2026.

What is Piramal Enterprises Ltd(Merged)'s capex?

Piramal Enterprises Ltd(Merged) spent ₹55.0 Cr on capital expenditure over the last 3 fiscal years, a figure derived from the change in fixed assets plus depreciation. In FY25 alone that was ₹49.0 Cr, with ₹42.0 Cr in capital work-in-progress — capacity paid for but not yet earning. — as of 11 September 2026.

What is Piramal Enterprises Ltd(Merged)'s cash flow?

Piramal Enterprises Ltd(Merged) generated ₹454 Cr of operating cash flow in FY25 and ₹405 Cr of free cash flow after ₹49.0 Cr of capital spending. Reported profit that year was ₹504 Cr, so operating cash ran behind profit. Cash-flow resolution for India is annual. — as of 11 September 2026.

Is Piramal Enterprises Ltd(Merged)'s profit real cash?

Not fully — over the last 3 fiscal years, 35% of Piramal Enterprises Ltd(Merged)'s reported profit arrived as operating cash. In FY25, operating cash was ₹454 Cr against reported profit of ₹504 Cr. The cash then goes mostly into building capacity. Cash-flow resolution is annual — as of 11 September 2026.

What growth does Piramal Enterprises Ltd(Merged)'s price assume?

At its price on 13 June 2026, Piramal Enterprises Ltd(Merged) was priced for profit growth of about 27.5% a year. Profit itself has compounded 3.1% a year over the past 10 years. The figure reads the multiple backwards: the growth a buyer at that price was already paying for. — as of 11 September 2026.

What could break the Piramal Enterprises Ltd(Merged) story?

The sharpest disagreement: Promoters moved +2.7 points over 8 quarters while the operating story went the other way — someone close to the numbers is not convinced. Mechanically, two Friday closes in a row below the 200-day average would end the price trend — that is the exit rule this page tracks — as of 11 September 2026.

Is Piramal Enterprises Ltd(Merged) a stock worth studying right now?

This is not investment advice. The machine read: Piramal Enterprises Ltd(Merged)'s three tracks disagree. Price, valuation and the earnings engine each tell a different story — the next quarter or two settles it. The sharpest open question: whether the register turns back in the story’s favour. Every number on this page is drawn deterministically from the raw series, with no forecasts and no price opinions — as of 11 September 2026.

Sector Alpha — machine-written from the numbers · Data as of 2026-09-11. Every chart on this page is drawn by deterministic code from the raw series — no forecasts, no price opinions, and nothing here is investment advice.

Not SEBI Registered !! Not Investment advice !!

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