Piramal Finance has demonstrated robust financial performance in the first half of the fiscal year, positioning itself well to achieve its long-term goals. The company's recent financial results highlight its strong growth trajectory and strategic execution.

Key Financial Highlights

Growth and Performance

Piramal Finance has reported a consolidated profit of ₹603.00 crore for the first half of the current fiscal year. This performance puts the company on a solid footing to pursue its future financial targets.

The company's total Assets Under Management (AUM) have shown impressive growth, increasing by 37.00% year-over-year. This growth rate has already surpassed the company's future target of 30.00%, indicating strong business momentum and effective strategy implementation.

H1 Performance

In the first half of the fiscal year, Piramal Finance's overall AUM grew by 22.00% compared to the same period in the previous year. This growth rate aligns well with the company's full-year growth target of 25.00%, suggesting that Piramal Finance is on track to meet or potentially exceed its annual objectives.

Outlook

The strong performance in H1 and the company's progress towards its future targets indicate Piramal Finance's robust business model and effective growth strategies. The company's ability to outperform its AUM growth targets while maintaining solid profit levels suggests a balanced approach to expansion and profitability.

As Piramal Finance continues to execute its growth plans, investors and market observers will likely keep a close watch on the company's ability to maintain this growth trajectory and achieve its projected targets for the future.

Piramal Finance Limited has successfully concluded its postal ballot process, with shareholders overwhelmingly approving the appointment of four new directors to strengthen the company's board. The voting results were announced on December 23, following the completion of the e-voting period that ended on December 22.

Approved Appointments and Voting Results

All four proposed director appointments received exceptional shareholder support, with approval rates exceeding 99% across all resolutions:

Voting Process and Participation

The e-voting process was conducted through NSDL's remote voting platform from November 23 at 9:00 AM IST to December 22 at 5:00 PM IST. The voting statistics demonstrate strong shareholder participation:

Director Profiles and Expertise

The newly appointed directors bring diverse expertise to Piramal Finance's board:

Shikha Sharma serves as the Non-Executive Director, bringing her extensive experience as former CEO of Axis Bank with deep knowledge in banking and insurance sectors.

Anjali Bansal joins as Independent Director, contributing her expertise as Founding Partner of Avaana Capital and former Non-Executive Chairperson of Dena Bank.

Rajiv Mehrishi adds his distinguished administrative experience as a retired IAS officer who has served in key positions in both Union and Rajasthan governments.

Asheet Lalit Mehta brings corporate strategy expertise as Senior Partner Emeritus of McKinsey & Company with specialized knowledge in financial services.

Regulatory Compliance and Terms

The postal ballot process was conducted in compliance with Sections 108 and 110 of the Companies Act, 2013, and Regulation 44 of SEBI Listing Regulations. The company published advertisements in Business Standard (English) and Mumbai Lakshadweep (Marathi) newspapers on November 21, ensuring proper disclosure to all stakeholders.

The independent directors are appointed for a term of five consecutive years, from September 24 to September 23, 2030, subject to regulatory requirements. This board strengthening initiative positions Piramal Finance to leverage diverse perspectives and expertise for its future strategic initiatives in the financial services sector.