Revenue from operations rose 1.81% to Rs 3,401.56 crore in Q4 FY21 from Rs 3,341 crore in Q4 FY20. Pre-tax net profit stood at Rs 966.38 crore in Q4 FY21 as against pre-tax loss of Rs 1,101.53 crore in Q4 FY20.
Revenue from the financial services business fell 14% to Rs 1,478 crore in Q4 FY21 over Q4 FY20. Revenue from the pharma business rose 19% to Rs 1,923 crore in Q4 FY21 over Q4 FY20.
The financial services segment recorded a healthy traction across product categories in terms of disbursements during Q4 FY21. It made further progress on rationalizing the wholesale loan book and making it more granular. No exposures were over 15% of net worth of the segment as of March 2021.
Despite reduction in wholesale loan book in FY2021, the segment continues to maintain provisions at 6.3% of loan book (Rs 2,797 crore) to manage any contingencies arising from the second wave of COVID-19. Provisions against the wholesale book is much higher at 6.8%.
In the pharma segment, revenues grew 19% year-on-year (Y-o-Y) to Rs 1,923 crore for Q4 FY21 over Q4 FY20, with CDMO revenues rising 23% Y-o-Y and India Consumer Healthcare Revenues growing 55% Y-o-Y. The CDMO recorded a strong order book with over 50 new customers in FY21.
Ajay Piramal, the chairman of Piramal Enterprises, said: "PEL has delivered steady performance with revenues of Rs 12,809 crore and net profit of Rs 1,413 crore for FY21, reflecting strong resilience during a phase of prolonged macro-economic challenges. Over the last two years, we have significantly strengthened our balance sheet and continue to transform our Financial Services business model from largely wholesale-led to a more diversified one across wholesale and retail financing. This transformation will also be augmented by our impending inorganic initiative with DHFL, that is currently undergoing regulatory process."
"Pursuant to the capital raise during the year in our Pharma business, we have accelerated investments in both organic and inorganic growth initiatives. In the last one year, we have also made further progress towards creating two separate listed entities. I am confident that these businesses will emerge as two strong companies, each with a long runway for growth," he added.
The board has recommended a dividend of Rs 33 per share.
Shares of Piramal Enterprises declined 2.61% to Rs 1,650.30 on BSE. The stock hovered in the range of Rs 1,621.60 to Rs 1,686.20 so far.
Piramal Enterprises has diversified business interests in financial services and pharmaceuticals.