Piramal Enterprises Ltd
Piramal Enterprises Ltd (PEL)

Piramal Enterprises Ltd (PEL)

₹864.252.49%

Key Stats

₹844
Day's Price Range
₹873.6
₹831.15
52-Week Price Range
₹1651.14
1 Month Return-17.86 %
3 Month Return-49.6 %
1 Year Return-67.52 %

Company Financials

  • Quarterly
  • Annual
Value in ₹ crore

Peer Comparsion

PE
Rank 7
19.54
EPS
Rank 19
₹43.13
BVPS
Rank 3
₹814.4
Dividend Yield
Rank 5
1.88%
ROE
Rank 36
2.47%
Price To Book Ratio
Rank 1
1.03
Debt To Asset
Rank 5
0.56

Company Information

Piramal Enterprises Limited PEL erstwhile Piramal Healthcare Limited is the flagship company of the Piramal Group led by Ajay Piramal. Piramal Enterprises Limited PEL is one of Indias large diversified companies with a presence in Financial Services Pharmaceuticals and Healthcare Insights Analytics. In Pharma through an endtoend manufacturing capabilities across 13 global facilities and a large global distribution network to over 100 countries PEL sells a portfolio of niche differentiated Pharma products and provides an entire pool of Pharma services including in the areas of injectable HPAPI etc.. PELs Global Pharma business has a strong product portfolio of niche differentiated branded generic products that are difficult to manufacture sell or distribute. PELs Contract Development and Manufacturing Organisation CDMO services segment offers endtoend solutions across the drug life cycle through a globally integrated network of facilities. PELs India consumer products division caters to the Indian selfcare market. PELs OTC range comprises of 18 major brands from the pharmaceutical and personal care space in diverse product categories like Vitamins Nutrition Dermatological Antacids Analgesics and Baby Care.PELs Healthcare Insights Analytics business is the premier provider of healthcare analytics data insight products and services to the worlds leading pharma biotech and medical technology companies and enables them to take informed business decisions.In Financial Services PEL provides wholesale lending housing finance and is also into Alternative Asset Management. PELs wholly owned subsidiary Piramal Capital Housing Finance Ltd is registered as a housing finance company with National Housing Bank NHB and engaged in various financial services businesses. It provides both wholesale and retail funding opportunities across sectors. Piramal Enterprises was incorporated as Indian Schering Limited in 26th April of the year 1947 under British Schering Ltd. It operates in the therapeutic segments of antibacterials cardiovasculars antidiabetics nutritional central nervous system and gastrointestinal. In addition it has a presence in the OTC segment through various joint ventures and alliances. The Companys manufacturing activities are well supported by active research and development the RD facility called the Quest Institute of Life Sciences in Mumbai that focuses on process development.The name of the company was changed from Indian Schering Ltd to Nicholas Laboratories India Ltd with effect from 27th September of the year 1979. The Pharmaceutical division of the company introduced a medicine called Mono Sorbitrate in the year 1988 for cardiac patients. With effect from 1st April of the year 1990 Gujarat Glass Ltd GGL was merged with the company. During the year 1991 the new formulation plant at Pithampur in Madhya Pradesh was commissioned. After a year in 1992 the company had setup a second formulation plant at Pithampur in Madhya Pradesh with the Stateoftheart manufacturing facilities. With effect from 2nd December of the year 1992 the name of the company was changed from Nicholas Laboratories Ltd to Nicholas Piramal India Ltd. PHL entered into a joint venture JV agreement with the leading manufacturers of ophthalmic products Allergan of U.S.A in the year 1993 and also the company made a JV agreement with Sateliec France in the year 1994 for dental care products. During the year 1995 PHL had entered into a scheme of arrangement with Sumitra Pharmaceutical and Chemicals Ltd SPCL Hyderabad. Under the scheme bulk drug division of SPCL transferred and vested in the company effective from April of the same year. The Company entered into a product tieup with F.HoffmanLaRoche and Boehringer Mannheim in the year 1996 both leads in Pharma research. The Flaconnage Glass Division of the company was successfully commissioned 5MW captive power plant at Kosamba in the same year 1996 to insulate the division from the vagaries of power availability and tariff increases. With effect from 1st April of the identical year of 1996 Boehringer Mannheim India Ltd. BMIL was merged with company. During the year 1997 PHLs stateoftheart 230 TPD plant for manufacture of sodaline containers at Jambusar near Baroda was commissioned with an investment of Rs 125 crores and also in the same year the company made various agreements regarding marketing and in different disciplines. A joint venture was made with Allergan US for eye care products Scholl UK for footcare products and with Cytran US for immunological products. The company took over Jenkins Botswana a formulation company based in South Africa. In 1998 a memorandum of understanding MoU was signed with a major European chemicals company to start manufacturing speciality chemicals with equity partnership. During the same year of 1998 PHL had acquired the basic research unit of Hoechst Marion Roussel India at Mulund on the outskirts of Mumbai for about Rs.20 crore. During the year 1999 the company had launched nine products including Recormon Accutrend Amexyl Orthrobid Gel and Carvetrend and also PHL had identified an anticancer molecule at its research centre. It became the first Indian pharmaceutical company to join the Industrial Liaison Programme ILP of Massachusetts Institute of Technology MIT USA. The Company made tieup with the Centre for Biochemical Technology CBT in the year 2000 for conducting basic research in genomics and in the same year PHL acquired a 40 per cent stake in RhonePoulenc India Ltd which made it the second largest pharmaceutical group in India. It also entered into a research alliance with Hindustan Lever for developing Cosmoceuticals and personal care products. The Industrial Paints Division of the company would be hived off into a separate joint venture company with an international player. PHL had pulled out of its 50:50 joint venture with the UKbased Scholl Plc now known as SetonScholl Healthcare Plc in the year 2001. The group closed the acquisition of a 27.72 per cent equity stake in German Remedies Ltd. The Company had entered into a strategic alliance with MD India Healthcare Services Pvt Ltd. In the year 2002 ICI India transferred its pharmaceuticals business to the company. PHL had launched a new generation antiallergic called Airitis to combat allergic rhinitis in the country during the period of 2003. In the same year the company dropped the Frame Co operation Agreement with F Hoffman La Roche and contradictorily signed agreement with Advanced Medical Optics for supply of products. During the year 2004 PHL had entered into research collaboration with the Bangalorebased Indian Institute of Science IISc to identify potential new targets for developing drugs to treat fungal infections and sealed an InLicensing Agreement with Genzyme Corporation for Indian Market. Also in the same year of 2004 the company joined hands with NII for research on inflammation drugs. In the year 2005 the company had acquired Avecia Pharmaceuticals UK. BioSyntech signed scientific collaboration agreement with the company in November of the year 2006 and also in the same year PHL had signed an agreement to acquire Pfizers Morpeth UK Facility with potential outsourcing revenues exceeding US. The Plant Screening Agreement was ensued between the company and Pharmaceuticals Inc in January of the year 2007 to discover novel diabetes therapeutic agents. PHL had spun off its new chemical entity and herbal drug research division into a standalone company in the same year 2007. As at January 2008 PHL had signed MoU on research in oncology with Pierre Fabre Laboratories. This agreement formalises the collaboration between the two pharmaceutical laboratories specialising in research on natural substances. PHL had inked a pact for purchase of Anafortan and CEFI Brand Groups of Khandelwal Laboratories KLab for a total consideration of Rs 1160 million in April of the year 2008. The Company completed a definitive agreement with Plasma Germany in July of the year 2008 to acquire PlasmaSelects polygeline based blood plasma products marketed under the brand name Haemaccel in over 38 countries with the cash consideration of Euro 7.7 million for the transaction. In July 2008 the company jointly with Pierre Fabre launched a new dermocosmetic range Ducray.In 2008 Nicholas Piramal India Limited was renamed to Piramal Healthcare Limited. In 2009 Piramal Healthcare PHL acquired RxEliteinc the U.S. based inhalation anesthetic gas distribution business. During the year PHL also acquired Minard International Inc. an interventional pain management company with realtime image guidance anesthesia and analgesia conscious sedation product lines. Minrad manufactures and markets generic inhalation anesthetics for use in connection with human and veterinary surgical procedures. In 2010 PHL acquired iPill an oral contraceptive brand from Cipla. During the year PHL sold its diagnostics division to Super Religare Laboratories Ltd. During the year PHL acquired Biosyntech Inc. Canada. This is a part of the Life Sciences vertical BioOrthopedics division.On 22 April 2010 Piramal Healthcare and Bharat Serums And Vaccines Limited BSV an Indian biopharmaceutical company jointly announced that they have signed a definitive agreement for Piramal to acquire BSVs injectible anesthetic products business including Propofol Bupivacaine and Atracurium Besylate. This anesthetic product range is developed and manufactured by BSV at its own plant. The acquisition gives Piramal access to key intellectual property developed by BSV for the manufacture of injectible anesthetics products including processbased intellectual property and business contracts. The acquisition provides Piramal an immediate entry into the Propofol market the largest selling injectible anesthetic globally.In 2011 Fortune 500 ranked Piramal Healthcare in the top50 largest corporations across India. During the year Piramal Healthcare acquired Indiareit a real estate focused investment trust with AUM of USD 760 Million. During the year Piramal Healthcare acquired 11 of Vodafone India. During the year PHL acquired Oxygen Bioresearch. This is a part of the Pharmaceutical Solutions division. UN Conference on Trade and Developments World Investment Report 2011 ranked Piramal Healthcare as No. 5 in the top 10 pharmaceutical contract manufacturers worldwide.In 2012 Piramal Healthcare Limited was renamed to Piramal Enterprises Limited. During the year Piramal Enterprises started a NonBanking Financial Company NBFC focused on lending to real estate education and hospitals. On 16 May 2012 Piramal Healthcare announced that it has agreed to acquire Decision Resources Group DRG a US based company in the healthcare information segment from Providence Equity Partners for a consideration of approximately USD 635 million Rs 3400 crore. Decision Resources Group provides highquality webenabled research predictive analytics via proprietary databases and consulting services to the global healthcare industry. DRG projects revenues of USD 160 million for 2012. Following the completion of the DRG acquisition Piramal will operate Decision Resources Group as a standalone business.On 4 December 2012 Decision Resources Group announced that it acquired Abacus International a UK based global market access solutions company for many of the worlds leading healthcare companies.In 2013 Piramal Enterprises consumer products division acquired the brand CALADRYL in India. During the year Piramal Enterprises Limited acquired Molecular Imaging Development portfolio of Bayer Pharma.In 2014 Decision Resources Group acquired Relay Technology Management. The acquisition adds new products and significant technological capabilities. During the year Piramal Enterprises Limited agreed to acquire an effective 20 equity stake in Shriram Capital Limited a financial services company for an aggregate consideration of Rs 2014 crore. Piramal Enterprises Limited also acquired 9.99 equity stake in Shriram City Union Finance Limited. During the year APG Asset Management the Dutch pension fund asset manager and Piramal Enterprises Limited announced a strategic alliance for investing in rupee denominated mezzanine instruments issued by infrastructure companies in India with a target investment of USD 1 billion over 3 years.In 2015 Piramal Enterprises acquired five brands from Organon India Pvt. Ltd. OIPL and MSD BV for its Consumer Products Business. During the year Piramal Enterprises acquired the Baby Care Brand Littles for the Consumer Products Business. During the year Piramal Enterprises Ltd. acquired Kentucky based Specialty Pharmaceutical Contract Development and Manufacturing Organisation Coldstream Laboratories Inc. During the year Decision Resources Group DRG acquired Healthcare Business Insights HBI a trusted provider of best Practice research training and services to more than 1400 hospitals across the US. In 2016 Piramal Enterprises entered into an agreement to acquire Ash Stevens Inc. a US based Contract and Drug Manufacturing Orgnisation CDMO for High Potency APIs HPAPIs. During the year Piramal Enterprises entered into an agreement to acquire four brands from Pfizer Limited for its Consumer Products Business. During the year Piramal Enterprises announced the sale of its Canadabased cartilage repair product BSTCarGel to Smith Nephew.On 23 August 2016 Piramal Enterprises Limited and Bain Capital Credit signed a Memorandum of Understanding MOU to create a strategic partnership to invest in restructuring situations in India. The sponsors believe that there is over an USD 1 billion investing opportunity in this space over the next few years.On 10 October 2016 Piramal Enterprises announced that its wholly owned Critical Care subsidiary in the UK has entered into an agreement to acquire five anesthesia and pain management injectable products from Janssen Pharmaceutica NV in an all cash deal for an upfront consideration of US155 million and up to an additional US20 million. The products to be acquired are five injectable versions of wellestablished Janssen brands Sublimaze fentanyl citrate Sufenta sufentanil citrate Rapifen alfentanil hydrochloride Dipidolor piritramide and Hypnomidate etomidate.In 2017 Piramal Enterprises completed the Acquisition of a portfolio of drugs for Spasticity and Pain Management from Mallinckrodt LLC. During the year Piramal Enterprises Limited and Ivanho Cambridge announced partnership to invest in residential developments in India. Also during the year Piramal Enterprises Limited announced its plan to enter housing finance.On 30 November 2017 Piramal Enterprises Consumer Products Division announced the acquisition of Digeplex and associated brands from Shreya Lifesciences. This acquisition strengthens Piramals position in the GastroIntestinal GI segment and is complementary to its existing brands Polycrol and Naturolax in the GI segment. These brands hold rich legacy amongst consumers across India.On 25 June 2018 Piramal Holdings Suisse SA a wholly owned subsidiary of Piramal Enterprises Limited PEL entered into a definitive agreement thereby divesting its entire stake in Piramal Imaging SA PISA its subsidiary to Alliance Medical Acquisitionco Limited Alliance. Consequent to the divestment Piramal Imaging Limited and Piramal Imaging GmbH whollyowned subsidiaries of PISA will also become subsidiaries of Alliance and cease to be stepdown subsidiaries of PEL.During the FY2019the company issued and allotted 4162000 equity shares of the face value of Rs 2 each pursuant to conversion of 104050 Compulsorily Convertible DebenturesCCDs.In May 2018 the Board of Directors of the Company had approved the draft Scheme of Amalgamation between n Piramal Phytocare LtdPPLTransferor Company and Piramal Enterprises LtdPELTransferee Company and their respective shareholders the Scheme. Upon the Scheme being approved by the National Company Law Tribunal NCLT PEL will issue and allot 1 one fully paid up equity share of face value of Rs 2 each for every 70 seventy fully paid up equity shares having face value of Rs 10 each held by the equity shareholders of PPL as on the Record Date which will be determind for this purpose.During the FY2020 the company allotted 213458 equity shares of the face value of Rs 2 each at an issue price of Rs 2380 per share including premium of Rs 2378 per share out of the Rights equity shares reserved for Compulsorily Convertible DebenturesCCDs.Also issued and allotted 14186200 equity shares of the face value of Rs 2 each pursuant to conversion of 354655 CCDs.Further the company issued and allotted 305865 equity shares of the face value of Rs 2 each pursuant to the Scheme of Amalgamation of Piramal Phytocare Limited with the company.Also the company offered rights issue and 26385861 equity shares were allotted on 29 January 2020 at the price of Rs 1300 per share including a premium of Rs 1298 per share and 1535944 equity shares have been reserved for CCD Holders.In June 2019 the Company had divested its entire equity stake of 9.96 comprising 22600000 equity shares in Shriram Transport Finance Company Limited. The Honble National Company Law Tribunal Mumbai Bench vide its order dated 04 November 2019 had approved the Scheme of Amalgamation of Piramal Phytocare Limited Piramal Phytocare with Piramal Enterprises Limited and their respective shareholders the Scheme. The appointed date of the Scheme was April 1 2018 and the Scheme became effective from 02 December 2019.In January 2020 the Board of Directors of the Company had approved the divestment of entire stake in the Healthcare Insights and Analytics business to Clarivate Analytics PLC and its affiliates. The Transaction was for an aggregate consideration of USD 950 million of which USD 900 million was received on 28 February 2020 Closing and the remaining USD 50 million would be received at the end of 12 months from the Closing as per the agreed terms.In June 2020 the Board approved integration of PELs pharma businesses into its whollyowned subsidiary Piramal Pharma Limited.Further the Company has entered into definitive agreements with CA Clover Intermediate II Investments an affiliated entity of CAP V Mauritius Limited an investment fund managed and advised by affiliated entities of The Carlyle Group Inc. Carlyle whereby Carlyle has agreed to invest fresh equity capital towards 20 stake in Piramal Pharma.In October 2020 PPL and Navin Fluorine International Limited announced a mutual agreement to increase PPLs stake in Convergence Chemicals Private Limited CCPL to 100 by buying out NFILs 49 stake in CCPL at Rs 65.10 Crore. The acquisition was completed in February 2021.In March 2021 PPL entered into an agreement to acquire 100 stake in Hemmo Pharmaceuticals Private Limited an Indian manufacturer of peptide APIs for an upfront consideration of Rs 775 Crore and milestone linked earnouts.During the year ended March 31 2021 the Administrator of Dewan Housing Finance Corporation Limited DHFL vide Letter of Intent LOI dated 22nd January 2021 has intimated that the Committee of Creditors of DHFL have declared Piramal Capital Housing Finance Limited PCHFL wholly owned subsidiary of the Company as the Successful Resolution Applicant in relation to the Corporate Insolvency Resolution Process of DHFL under the Insolvency Bankruptcy Code 2016 and identified the resolution plan submitted by PCHFL as the Successful Resolution Plan. PCHFL has received fit and proper approval from the Reserve Bank of India dated 16th February 2021 and approval from Competition Commission of India for the acquisition of DHFL dated 12th April 2021. An application has been submitted to NCLT for the approval of the resolution plan.
OrganisationPiramal Enterprises Ltd
HeadquartersMumbai
IndustryFinance