Buy Piramal Enterprises, target price Rs 1391: ICICI Securities

ICICI Securities has buy call on Piramal Enterprises with a target price of Rs 1391. The current market price of Piramal Enterprises is Rs 1050.35. Time period given by analyst is one year when Piramal Enterprises Ltd. price can reach defined target.

Piramal Enterprises Ltd., incorporated in the year 1947, is a Large Cap company (having a market cap of Rs 25383.08 Crore) operating in Diversified sector.

Piramal Enterprises Ltd. key Products/Revenue Segments include Pharmaceuticals, Interest, Income From Financial Services, Sale of services, Dividend, Other Operating Revenue for the year ending 31-Mar-2022.



Financials
For the quarter ended 30-06-2022, the company reported a Consolidated Total Income of Rs 3726.46 Crore, down -15.33 % from last quarter Total Income of Rs 4401.03 Crore and up 23.74 % from last year same quarter Total Income of Rs 3011.60 Crore. Company reported net profit after tax of Rs 316.78 Crore in latest quarter.

Investment Rationale
The brokerage values PEL’s financial services business (factoring demerger of pharma business) at Rs332bn or Rs1,391 per share.

Promoter/FII Holdings
Promoters held 43.49 per cent stake in the company as of 30-Jun-2022, while FIIs owned 34.54 per cent, DIIs 8.13 per cent.