Piramal Finance shares touched a fresh all-time high of Rs 1,995 on Tuesday, gaining nearly 7% from their previous close of Rs 1,841.55, as the company reported a sharp sequential acceleration in earnings for the fourth quarter of FY26 — capping what has been a significant turnaround year for the NBFC.
Standalone net profit for Q4 FY26 came in at Rs 603.2 crore, up 52% from Rs 395.9 crore in the preceding quarter and a dramatic leap from Rs 63.9 crore in Q4 FY25 — a near tenfold improvement year-on-year, though on a low base. Profit before tax rose to Rs 543.2 crore from Rs 324.3 crore in Q3 and just Rs 85.8 crore in the same quarter last year.
The earnings expansion was driven by a sharp jump in income. Total income for Q4 FY26 stood at Rs 4,783.3 crore, up 61% from Rs 2,969 crore in Q3 and sharply ahead of Rs 3,056.2 crore in Q4 FY25. Revenue from operations surged to Rs 4,743.4 crore from Rs 2,913 crore in the previous quarter. Expenses also rose to Rs 4,240 crore from Rs 2,644.7 crore, reflecting higher finance costs and fair value changes, but the revenue momentum more than absorbed the cost increase. Deferred tax credits provided an additional tailwind to the bottom line.
Earnings per share for the quarter came in at Rs 26.61, against Rs 17.46 in Q3 and Rs 2.84 in Q4 FY25 — a trajectory that underlines the pace of the recovery in core operations.
For the full year FY26, Piramal Finance reported net profit of Rs 1,540 crore, against Rs 574.1 crore in FY25 — a near tripling of annual earnings. Total income for the year stood at Rs 13,329.3 crore versus Rs 10,660.4 crore previously, reflecting sustained momentum in lending operations alongside the improving profitability profile.
The stock’s move to a 52-week high of Rs 1,995 — against a 52-week low of Rs 1,235.15 — reflects the market pricing in what increasingly looks like a durable earnings recovery at one of India’s larger diversified NBFCs, after a period of balance sheet restructuring and provisioning that had weighed heavily on reported numbers.
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