Event Type and Details:

  • Earnings conference call discussing Q2 FY27 and H1 FY27 unaudited financial results
  • Held on October 19, 2026
  • Management stated the purpose was to discuss quarterly results and provide strategic updates

Management Participants:

  • Mr. Anand Piramal – Chairman
  • Mr. Jairam Sridharan – Managing Director and Chief Executive Officer
  • Mr. Rupen Jhaveri – Group President
  • Mr. Yesh Nadkarni – Chief Executive Officer, Wholesale Lending
  • Mr. Vikash Singhla – Chief Financial Officer
  • Mr. Ravi Singh – Head, Investor Relations and Strategy

Availability of Materials:

  • The transcript of the conference call is hosted on the company's website at: https://www.piramalfinance.com/content/dam/piramalfinance/pdf/financial-results/piramal-finance-limited/quarterly-results/2027/earnings-conference-call-transcript/p6.pdf
  • Result materials are available on the exchange and the company's website

Financial Period Discussed:

  • Quarter and half-year ended September 30, 2026 (Q2 FY27 and H1 FY27)

Key Financial Highlights:

  • PAT up 67% YoY to ₹545 crores in Q2 FY27
  • H1 FY27 PAT crossed ₹1,000 crores mark, also up 67% YoY
  • Total AUM grew 24% YoY to ₹1,13,112 crores
  • Growth AUM increased 30% YoY, now representing 98.5% of total AUM
  • RoAUM of Growth business at 2% annualized (34 bps higher than Q2 FY26)
  • Net income margin flat QoQ at 6.5%
  • Capital adequacy at 20.1% at end-September 2026
  • Net worth stands at ₹31,180 crores

Strategic Updates and Guidance:

  • Company guided for 25% AUM growth in FY27
  • Expects AUM to double every 3 years, targeting ₹1.5 lakh crores by FY28
  • Confident of meeting FY27 profit growth guidance of 50% YoY
  • Targeting retail opex to AUM reduction by 30-35 bps over next 6 quarters
  • Gold loan network expanded to 100 branches from 67 previous quarter, targeting 200 branches by March 2027
  • Rural branches expanded from 178 to 203 branches
  • Total branch network now at 838 branches

Capital Raise Details:

  • Completed total equity fundraise of ₹3,850 crores in Q2
  • Includes QIP of ₹2,100 crores and preferential allotment of warrants of ₹1,750 crores to promoter group
  • QIP added almost 200 bps to capital adequacy

Risk and Asset Quality:

  • Overall retail 90+ delinquency stable at 0.7%
  • Growth business credit cost down 10 bps QoQ to 1.5%
  • Total GNPA and NNPA at 2.4% and 1.7% respectively
  • Legacy AUM decreased 32% QoQ to ₹1,673 crores (now 1.5% of total AUM)
  • ECL provision of ₹459 crores on legacy book

Insurance Commission Impact Assessment:

  • IRDAI consultation paper dated September 23, 2026 could impact insurance commissions
  • If implemented as proposed with effective date of April 1, 2027, estimated gross reduction potentially having 18-24 bps impact on FY28 return on assets
  • Company has natural hedge through 50% stake in Pramerica Life Insurance

Additional Notes:

  • The document is a regulatory filing submitted to BSE and NSE
  • Filed pursuant to Regulation 30(6) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
  • The call included forward-looking statements subject to risks and uncertainties