Share price at the NSE close on 23 Oct 2026. Previous close ₹1,952.00.
- Market capMarket capitalisation. Share price times the number of shares: what the whole company is worth at the day's price. The rank is by average market value over the six months to Jun 2026, among listed companies.
- ₹44,354 Cr216th largest listed
- P/EPrice to earnings, trailing. Market cap divided by the profit of the last twelve months (the latest four quarters, or two half years for a company that reports half-yearly) that belongs to the company's own shareholders, after the share of the other owners of its subsidiaries: what investors pay for each rupee of a year's profit. The filing of 19 Oct 2026
- 23.4
- P/E without one-offsPrice to earnings without one-off items. Market cap divided by core profit: the profit of the last twelve months (the latest four quarters, or two half years for a company that reports half-yearly) that belongs to the company's own shareholders, less one-off items (exceptional items and the result of businesses sold or closed). Shown where the one-off items move that profit by more than a tenth. The last twelve months' profit includes ₹1,326 crore of one-off items, the largest of them in the quarter to Mar 2026.
- 77.5
- P/BPrice to book. Market cap divided by the net worth that belongs to the company's own shareholders, its assets less everything it owes and less the other owners' share of its subsidiaries, on its latest balance sheet. The filing of 19 Oct 2026
- 1.4
- Dividend yieldDividend yield. Dividends paid per share in the twelve months to the day, as a percentage of the day's share price.
- 0.59%
- ROEReturn on equity. Profit over the last twelve months (the latest four quarters, or two half years for a company that reports half-yearly) that belongs to the company's own shareholders, as a percentage of their net worth, the money they have in the business. Net worth is the average of the latest balance sheet and the one a year before it. The filing of 19 Oct 2026
- 6.5%
- ROE without one-offsReturn on equity without one-off items. Core profit, the profit of the last twelve months (the latest four quarters, or two half years for a company that reports half-yearly) that belongs to the company's own shareholders less one-off items (exceptional items and the result of businesses sold or closed), as a percentage of the same net worth as the return on equity. Shown where the one-off items move that profit by more than a tenth. The last twelve months' profit includes ₹1,326 crore of one-off items, the largest of them in the quarter to Mar 2026.
- 2.0%
- Volume, NSEVolume. Shares traded on the last trading day; delivery is the part buyers kept rather than sold again the same day.
- 1,75,43846.8% delivered
Piramal Finance board of directors
At the end of the quarter to Sep 2026, as the company filed it; changes since are in its announcements.Their trades in its shares
- ChairpersonAnand A PiramalRelated to the promoter
- Managing director and CEOJairam Sridharan
- Company Secretary and Compliance OfficerBipin Singh
8 directors5 independent2 executive1 non-executive
- Anand A Piramal · ChairpersonExecutive · joined Sep 2021 · 1 listed board
- Jairam Sridharan · Managing director and CEOExecutive · joined Oct 2021 · reappointed Oct 2024 · 1 listed board · 2 committee seats
- Shikha Sanjaya SharmaNon-executive · joined Sep 2025 · 5 listed boards · 4 as independent · 3 committee seats
- Rajiv MehrishiIndependent · joined Sep 2025 · reappointed Sep 2025 · 12 months as independent · 4 listed boards · 4 as independent · 6 committee seats, 3 as chair
- Suhail Amin NathaniIndependent · joined Sep 2021 · reappointed Sep 2026 · 60 months as independent · 2 listed boards · 2 as independent · 2 committee seats
- Mehta Asheet LalitIndependent · joined Sep 2025 · reappointed Sep 2025 · 12 months as independent · 1 listed board · 1 as independent
- Anjali BansalIndependent · joined Sep 2025 · reappointed Sep 2025 · 12 months as independent · 4 listed boards · 4 as independent · 5 committee seats
- Kunal BahlIndependent · joined Mar 2024 · reappointed Mar 2024 · 30 months as independent · 2 listed boards · 1 as independent · 2 committee seats
An independent director has no business or family tie to the company, its promoters or its managers beyond the seat. Listed boards counts the boards of listed companies the director sits on, this one included, and "as independent" how many of those seats are independent ones. Committee seats are audit and stakeholder committee seats across those companies. Months as independent is filed for independent directors only, whose terms the rules cap. Disqualified is the company's own mark that a director may not serve under company law.
4 directors who left
- Gautam Bhailal Doshi, left 27 Mar 2026: Others
- Ajay Piramal, left 24 Sep 2025: Others
- Swati Ajay Piramal, left 24 Sep 2025: Others
- Puneet Dalmia, left 23 Sep 2025: Others
Committees and meetings
Who sits on each, and how often they met.Board meeting notices and outcomes
Board
- 24 Aug 20266 of 8 present4 independent · 38 days in between
- 16 Jul 20266 of 8 present4 independent · 79 days in between
- 27 Apr 20267 of 8 present4 independent
Audit Committee
Chair Rajiv Mehrishi
Suhail Amin Nathani, Jairam Sridharan
- 16 Jul 20263 of 3 present2 independent · 82 days in between
- 24 Apr 20263 of 3 present2 independent
Nomination and remuneration committee
Chair Suhail Amin Nathani
Anand A Piramal, Kunal Bahl, Anjali Bansal
- 16 Jul 20264 of 4 present3 independent · 82 days in between
- 24 Apr 20264 of 4 present3 independent
Stakeholders Relationship Committee
Chair Rajiv Mehrishi
Jairam Sridharan, Suhail Amin Nathani
No meeting listed in the filing.
Risk Management Committee
Chair Shikha Sanjaya Sharma
Mehta Asheet Lalit, Anjali Bansal, Jairam Sridharan
- 14 Jul 20264 of 4 present2 independent · 80 days in between
- 24 Apr 20264 of 4 present2 independent
Corporate Social Responsibility Committee
Chair Suhail Amin Nathani
Rajiv Mehrishi, Anjali Bansal
No meeting listed in the filing.
Meetings in the quarter filed and the one before it. The days in between are as the company files them, neither meeting's day counted; the rules allow at most 120. A quorum is the least number of members who must attend for the meeting to decide anything.
Statutory auditors
Named in the results for the quarter to Mar 2026.
- Lodha & Co. LLPPeer-review certificate valid to Mar 2027
- Singhi & Co.Peer-review certificate valid to Aug 2028
A statutory auditor checks the company's accounts and signs its results. Peer review is the accountants' institute's check of an audit firm's own work, which a listed company's auditor must hold a valid certificate of.
Piramal Finance AGM and shareholder votes
Each resolution, how the votes went, and how institutions voted apart from the promoters. A postal ballot is a vote by post or online, held without a meeting.Piramal Finance dividend history
Extraordinary general meeting, 19 Sep 2026
2,13,069 shareholders on the register on 12 Sep 2026; present: 9 promoters and 44 others; votes counted by Bhaskar Upadhyay / N L Bhatia & Associates.The company's voting result (opens in a new tab)
Approval to raise capital by way of issuance of warrants convertible into equity shares by way of a preferential issue on a private placement basis to Nithyam Realty Private Limited belonging to the Promoter Group of the Company, for an amount aggregating up to Rs. 1750,03,40,000 (Rupees One Thousand Seven Hundred and Fifty Crore Three Lakh Forty Thousand only)MoreLess
SpecialPromoters have an interest in it99.94% for0.06% againstAgainst: promoters 0.00% · institutions 0.07% · other public 0.87%
Turnout: all 77.83% · promoters 100.00% · institutions 83.06% · other public 14.64%
For and against are per cent of the votes cast. Turnout is the votes cast as a per cent of the shares each group holds. Institutions are funds, insurers, banks and foreign investors. An ordinary resolution passes with more than half the votes cast, a special one with at least three quarters.
Postal ballot, 17 Aug 2026, 1 resolution
2,03,721 shareholders on the register on 10 Jul 2026; votes counted by Bhaskar Upadhyay / N L Bhatia & Associates.The company's voting result (opens in a new tab)
Approval to raise capital by way of qualified institutions placement(s), rights issue, preferential allotment or a private placement(s) and/or any combination thereof to eligible investors through an issuance of equity shares or other eligible securities for an amount aggregating up to Rs. 4,000 crore.MoreLess
Special99.97% for0.04% againstAgainst: promoters 0.00% · institutions 0.08% · other public 0.21%
Turnout: all 76.51% · promoters 100.00% · institutions 80.85% · other public 14.13%
For and against are per cent of the votes cast. Turnout is the votes cast as a per cent of the shares each group holds. Institutions are funds, insurers, banks and foreign investors. An ordinary resolution passes with more than half the votes cast, a special one with at least three quarters.
Annual general meeting, 2 Jul 2026, 6 resolutions
2,16,909 shareholders on the register on 25 Jun 2026; present: 18 promoters and 61 others; votes counted by Bhaskar Upadhyay / N. L. Bhatia & Associates.The company's voting result (opens in a new tab)
To receive, consider and adopt the Audited Financial Statements (Standalone and Consolidated) of the Company for the financial year ended March 31, 2026 together with the Reports of the Board of the Directors and Auditors thereon.MoreLess
Ordinary99.80% for0.20% againstAgainst: promoters 0.00% · institutions 0.54% · other public 0.06%
Turnout: all 73.48% · promoters 100.00% · institutions 78.03% · other public 3.69%
- To declare final dividend on Equity shares for the financial year ended March 31, 2026.Ordinary100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.01%
Turnout: all 73.49% · promoters 100.00% · institutions 78.06% · other public 3.69%
- To appoint a Director in place of Mr. Anand Piramal (DIN: 00286085), who retires by rotation and being eligible, offers himself for re-appointment.Ordinary94.28% for5.72% against
Against: promoters 0.00% · institutions 15.79% · other public 0.08%
Turnout: all 73.49% · promoters 100.00% · institutions 78.06% · other public 3.69%
- Re-appointment of Mr. Suhail Nathani (DIN: 01089938) as a Non-Executive Independent Director of the CompanySpecial85.34% for14.66% against
Against: promoters 0.00% · institutions 40.69% · other public 0.19%
Turnout: all 73.30% · promoters 100.00% · institutions 77.50% · other public 3.68%
- Issue of Non-Convertible Debentures on Private Placement BasisSpecial98.39% for1.61% against
Against: promoters 0.00% · institutions 4.44% · other public 0.10%
Turnout: all 73.49% · promoters 100.00% · institutions 78.06% · other public 3.68%
- Conversion of loan into equity or other capital of the Company in case of Event of DefaultSpecial98.39% for1.61% against
Against: promoters 0.00% · institutions 4.43% · other public 0.20%
Turnout: all 73.49% · promoters 100.00% · institutions 78.06% · other public 3.68%
For and against are per cent of the votes cast. Turnout is the votes cast as a per cent of the shares each group holds. Institutions are funds, insurers, banks and foreign investors. An ordinary resolution passes with more than half the votes cast, a special one with at least three quarters.
Postal ballot, 22 Dec 2025, 4 resolutions
2,38,915 shareholders on the register on 14 Nov 2025; votes counted by Bhaskar Upadhyay / N. L. Bhatia & Associates.The company's voting result (opens in a new tab)
- Appointment of Ms. Shikha Sharma (DIN:00043265) as a Non-Executive Director of the CompanyOrdinary99.36% for0.64% against
Against: promoters 0.00% · institutions 1.90% · other public 0.62%
Turnout: all 70.35% · promoters 100.00% · institutions 77.39% · other public 2.52%
- Appointment of Ms. Anjali Bansal (DIN:00207746) as an Independent Director of the CompanySpecial99.37% for0.63% against
Against: promoters 0.00% · institutions 1.87% · other public 0.65%
Turnout: all 70.35% · promoters 100.00% · institutions 77.39% · other public 2.52%
- Appointment of Mr. Rajiv Mehrishi (DIN:00208189) as an Independent Director of the CompanySpecial99.37% for0.63% against
Against: promoters 0.00% · institutions 1.87% · other public 0.57%
Turnout: all 70.35% · promoters 100.00% · institutions 77.39% · other public 2.52%
- Appointment of Mr. Asheet Lalit Mehta (DIN:10648593) as an Independent Director of the CompanySpecial99.75% for0.25% against
Against: promoters 0.00% · institutions 0.74% · other public 0.51%
Turnout: all 70.35% · promoters 100.00% · institutions 77.39% · other public 2.52%
For and against are per cent of the votes cast. Turnout is the votes cast as a per cent of the shares each group holds. Institutions are funds, insurers, banks and foreign investors. An ordinary resolution passes with more than half the votes cast, a special one with at least three quarters.
How mutual funds voted
Fund houses must disclose how they vote at every meeting of a company they hold.Funds that hold it
Mutual fund votes, meeting of 19 Sep 2026, 12 fund houses so far (houses' deadline to file 15 Oct 2026)
Approval to raise capital by way of issuance of warrants convertible into equity shares by way of a preferential issue on a private placement basis to Nithyam Realty Private Limited belonging to the Promoter Group of the Company, for an amount aggregating up to Rs. 1750,03,40,000 (Rupees One Thousand Seven Hundred and Fifty Crore Three Lakh Forty Thousand only)MoreLess
Against Angel One Mutual Fund, Edelweiss Mutual Fund, Navi Mutual Fund
- Angel One Mutual FundGovernance and Transparency concern: Warrants have been priced at par with equity shares as it is proposed to be issued at the recent QIP price, without any premium to the recent QIP price. After accounting for interest on deferred payment of 75% of warrant amount, the issuance of shares will be at a discount of ~₹ 190 per share. Further, the Company has not provided sufficient justification for selecting a particular promoter group entity as the allottee, resulting in a lack of clarity on the overall rationale of the proposed issuance of convertible warrants and the basis of selecting the allottee. The individual dilution due to the proposed issue to promoters appears excessive and the cumulative dilution (considering the dilution of QIP completed in August, 2026 along with the proposed issue) exceeds more than 5% in a period of less than 12 months.
- Edelweiss Mutual Fund, Navi Mutual FundCompliant with law. Governance and Transparency concern: Warrants have been priced at par with equity shares as it is proposed to be issued at the recent QIP price, without any premium to the recent QIP price. After accounting for interest on deferred payment of 75% of warrant amount, the issuance of shares will be at a discount of ~Rs. 190 per share. Further, the Company has not provided sufficient justification for selecting a particular promoter group entity as the allottee, resulting in a lack of clarity on the overall rationale of the proposed issuance of convertible warrants and the basis of selecting the allottee. The individual dilution due to the proposed issue to promoters appears excessive and the cumulative dilution (considering the dilution of QIP completed in August, 2026 along with the proposed issue) exceeds more than 5% in a period of less than 12 months.
9 for3 against
Mutual fund votes, meeting of 17 Aug 2026, 10 fund houses so far (houses' deadline to file 15 Oct 2026)
Approval to raise capital by way of qualified institutions placement(s), rights issue, preferential allotment or a private placement(s) and/or any combination thereof to eligible investors through an issuance of equity shares or other eligible securities for an amount aggregating up to Rs. 4,000 crore.MoreLess
Against Angel One Mutual Fund, Edelweiss Mutual Fund, Navi Mutual Fund
- Angel One Mutual FundGovernance Concern: The proposed issuance will lead to significant dilution and no clarity regarding whether Rights Issue will be opted for or not and if yes, then for what portion.
- Edelweiss Mutual Fund, Navi Mutual FundCompliant with Law. Governance Concern: The proposed issuance will lead to significant dilution and no clarity regarding whether Rights Issue will be opted for or not and if yes, then for what portion.
7 for3 against
2 earlier meetings
Mutual fund votes, meeting of 2 Jul 2026, 10 fund houses so far (houses' deadline to file 15 Oct 2026)
To receive, consider and adopt the Audited Financial Statements (Standalone and Consolidated) of the Company for the financial year ended March 31, 2026 together with the Reports of the Board of the Directors and Auditors thereon.MoreLess
10 for0 against- To declare final dividend on Equity shares for the financial year ended March 31, 2026.10 for0 against
- To appoint a Director in place of Mr. Anand Piramal (DIN: 00286085), who retires by rotation and being eligible, offers himself for re-appointment.
Against Navi Mutual Fund
- Navi Mutual FundNo concern identified on the merits of proposed appointee. Non-Compliant with Section 203(3) of the Companies Act, 2013: Holding two full-time positions in the Companies that do not share a holding and subsidiary relationship.
9 for1 against - Re-appointment of Mr. Suhail Nathani (DIN: 01089938) as a Non-Executive Independent Director of the Company
Against Angel One Mutual Fund, DSP Mutual Fund, Edelweiss Mutual Fund, HSBC Mutual Fund, Jio BlackRock Mutual Fund, Navi Mutual Fund, Sundaram Mutual Fund
- Angel One Mutual FundGovernance Concern: Prolonged association at Group level.
- DSP Mutual Fund, Jio BlackRock Mutual Fund, Sundaram Mutual FundSuhail Nathani, 61, is the Co-Founder and Managing Partner of Economic Laws Practice (ELP). He has over three decades of experience in M&A, competition, trade, regulatory, and international law. He has attended all seven (100%) board meetings held in FY26. Although his reappointment is in line with regulatory requirements, we note that he has been serving on the boards of various Piramal group companies since July 2011. It is unclear whether the mandatory three-year cooling-off period was observed between his directorships across Piramal group companies. Given his long association of over ten years with the Piramal Group, we do not support his reappointment as an Independent Director. The company should consider appointing him as a Non-Executive, Non-Independent Director instead. We do not support the resolution.
- Edelweiss Mutual Fund, Navi Mutual FundRe-appointment compliant with law. No concerns on the merit of the proposed appointee. Governance Concern: Prolonged association at Group level.
- HSBC Mutual FundA vote AGAINST this resolution is warranted because the proposed re-appointment will result in Suhail Nathani's tenure with the company exceeding ten years.
3 for7 against - Issue of Non-Convertible Debentures on Private Placement Basis10 for0 against
- Conversion of loan into equity or other capital of the Company in case of Event of Default10 for0 against
Mutual fund votes, meeting of 22 Dec 2025, 8 fund houses
- Appointment of Ms. Shikha Sharma (DIN:00043265) as a Non-Executive Director of the Company8 for0 against
- Appointment of Ms. Anjali Bansal (DIN:00207746) as an Independent Director of the Company8 for0 against
- Appointment of Mr. Rajiv Mehrishi (DIN:00208189) as an Independent Director of the Company8 for0 against
- Appointment of Mr. Asheet Lalit Mehta (DIN:10648593) as an Independent Director of the Company8 for0 against
Each fund house counted once, from its own disclosure; the reasons are its own words.
Investor complaints and compliance
Quarter by quarter.
Investor complaints received and resolved, the company's own count
- Received
- Resolved
Open at the quarter's end
- The board is made up as the listing rules require
- Yes
- The board has a regular chairperson
- Yes
- The company has a risk management committee
- Yes
- The chair is related to the managing director
- No
- The filing has a part on fines and penalties
- No
- The filing has a part on tax disputes
- No
- There was a cyber security incident in the quarter
- No
The company's own answers in its filing.
How money raised was used
Reported for the quarter to Sep 2026.
| Raised | Amount raised | For | Set aside | Spent | Spent elsewhere |
|---|---|---|---|---|---|
| QIPAug 2026, checked by Care Ratings Limited | 2,100.00 | – | – | No |