Piramal Enterprises Ltd reported a fourth-quarter net loss of Rs 196 crore due to mark-to-market (MTM) losses on its investment in Shriram Group, the company said in a filing. The company had reported a net profit of ₹151 crore in the year-ago period.
The board has recommended a dividend of ₹31 per share and the total dividend payout will be ₹740 crore. The company’s consolidated net worth for FY23 was ₹31,059 crore, with a capital adequacy ratio of 31% on its consolidated balance sheet.
Cash and liquid investments of ₹7,430 crore constitute 9% of the total assets. Gross NPA ratio was 3.8% in Q4 FY23 and total provisioning as a percentage of total AUM now stands at 6.2% in Q4FY23.
Ajay Piramal, Chairman, Piramal Enterprises Ltd. said, “We are pleased with our resilient performance in the face of macroeconomic and geopolitical headwinds. India remains a relative “bright spot” in the world and will contribute significantly to global growth in the coming years.
“In retail, we have achieved substantial growth and this business now contributes 50% of our AUM. We are consciously moving towards a technology-driven multi-product strategy to continue building a large, diversified NBFC. As we continue to expand our retail lending business, we are also investing in manpower, branch infrastructure, technology and analytics for its future growth.
“In wholesale, we have reduced our wholesale to 1.0 AUM down 33% YoY. Our Stage 2+3 AUM has come down by 39% in QoQ and we are focused to bring it down further. We are focused on ensuring continuous value creation for all stakeholders.”