External broker reports(aggregated public sources), Motilal Oswal Financial Services Limited

Motilal Oswal

External broker reports(aggregated public sources)

Motilal Oswal Financial Services Limited

Motilal Oswal Financial Services Limited is an Indian diversified financial services firm offering a range of financial products and services. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

Equity Bottom-Up

<ul><li>Piramal Enterprises (PIEL) reported a 2QFY25 net profit of ~INR1.6b (PQ: ~INR1.8b).</li><li>This included an exceptional gain of ~INR770m from recoveries in the AIF portfolio.</li><li>NII rose ~17% YoY and 9% QoQ to ~INR8.8b.</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Piramal Enterprises (PIEL) reported a 2QFY25 net profit of ~INR1.6b (PQ: ~INR1.8b).This included an exceptional gain of ~INR770m from recoveries in the AIF portfolio.NII rose ~17% YoY and 9% QoQ to ~INR8.8b.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Piramal Enterprises - Strong Retail Loan Growth; Credit Costs Higher QoQ

<ul><li>PIEL is committed to reducing its legacy AUM from ~INR130b as of Jun’24 to ~INR60-70b by Mar’25 and expects (not guidance) that a ~25% haircut could be required to run down the residual stressed legacy book.</li><li>As in the past, the rundown will not impair the company’s net worth thanks to pockets of value in Shriram Life/General investments, AIF recoveries and tax-related gains.</li><li>Unsecured digital loans are still a difficult but unavoidable channel (necessary evil) for lenders primarily focused on customer acquisition.</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

PIEL is committed to reducing its legacy AUM from ~INR130b as of Jun’24 to ~INR60-70b by Mar’25 and expects (not guidance) that a ~25% haircut could be required to run down the residual stressed legacy book.As in the past, the rundown will not impair the company’s net worth thanks to pockets of value in Shriram Life/General investments, AIF recoveries and tax-related gains.Unsecured digital loans are still a difficult but unavoidable channel (necessary evil) for lenders primarily focused on customer acquisition.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Piramal Enterprises - Making Efforts to Strengthen Retail and Rundown Legacy Wholesale

<ul><li>PIEL had fixed 1st Sep’22 as the record date for the demerger of Piramal Pharma (PPL).</li><li>Price discovery for the Financial Services business has already occurred, and PIEL now trades as a diversified NBFC registered with the RBI.</li><li>Integration of DHFL has progressed well. The Retail lending business continues to gain traction, with an improvement in the disbursement run-rate.</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

PIEL had fixed 1st Sep’22 as the record date for the demerger of Piramal Pharma (PPL).Price discovery for the Financial Services business has already occurred, and PIEL now trades as a diversified NBFC registered with the RBI.Integration of DHFL has progressed well. The Retail lending business continues to gain traction, with an improvement in the disbursement run-rate.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

PIEL Had Fixed 1st Sep’22 as the Record Date for the Demerger of Piramal Pharma (PPL)

PIEL reported a consolidated PAT of INR4.3b, down 32% YoY and 20% QoQ. This was driven by a decline in Financial Services' (FS) revenue, led by a reduction in the Wholesale loan book. This was also in part because of extra-ordinary expenses of INR1.53b on the DHFL acquisition and the...<div class="content-highlight">Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</div>

PIEL reported a consolidated PAT of INR4.3b, down 32% YoY and 20% QoQ. This was driven by a decline in Financial Services' (FS) revenue, led by a reduction in the Wholesale loan book. This was also in part because of extra-ordinary expenses of INR1.53b on the DHFL acquisition and the...Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Positioning itself as a large Retail HFC; Pharma margin would improve in 2HFY22

PIEL's board approved the simplification of its corporate structure by creating two separate listed entities in Financial and Pharmaceutical Services, subject to shareholder, creditor, and regulatory approvals. The demerger would optimize the capital structure for each business and enable both to independently pursue growth opportunities.<div class="content-highlight">Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</div>

PIEL's board approved the simplification of its corporate structure by creating two separate listed entities in Financial and Pharmaceutical Services, subject to shareholder, creditor, and regulatory approvals. The demerger would optimize the capital structure for each business and enable both to independently pursue growth opportunities.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Pharma demerger: Value unlocking underway

India

Piramal Enterprises Limited provides diversified commercial services. The Company offers pharmaceutical production and distribution, real estate, healthcare insights and analysis, and financial services. Piramal Enterprises serves customers globally.

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
P/E	0.00
Dividend (Yield)	0.00

Piramal Enterprises (PIEL IN)

Piramal Enterprises - Strong Retail Loan Growth; Credit Costs Higher QoQ

Piramal Enterprises (PIEL) reported a 2QFY25 net profit of ~INR1.6b (PQ: ~INR1.8b).This included an exceptional gain of ~INR770m from recoveries in...

Motilal Oswal

Piramal Enterprises - Making Efforts to Strengthen Retail and Rundown Legacy Wholesale

We value the lending business at 0.6x FY26E P/BV (unchanged). Retain Neutral with a revised TP of INR1,000 (premised on Mar’26 SOTP).

Motilal Oswal

PIEL Had Fixed 1st Sep’22 as the Record Date for the Demerger of Piramal Pharma (PPL)

Price discovery for the Financial Services business has already occurred, and PIEL now trades as a diversified NBFC registered with the RBI.

Motilal Oswal

Positioning itself as a large Retail HFC; Pharma margin would improve in 2HFY22

PIEL reported a consolidated PAT of INR4.3b, down 32% YoY and 20% QoQ. This was driven by a decline in Financial Services' (FS) revenue, led by a...

Motilal Oswal

Pharma demerger: Value unlocking underway

PIEL's board approved the simplification of its corporate structure by creating two separate listed entities in Financial and Pharmaceutical...

Motilal Oswal

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)