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    500302   INE140A01024

PIRAMAL ENTERPRISES LIMITED

(500302)
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Piramal Group to Demerge Financial, Pharma Biz into Separate Listed Entities

10/07/2021 | 10:35am EST

Piramal Enterprises Limited (BSE:500302), on October 7, 2021 announced a major restructuring of its business with plans to demerge its financial services and pharmaceuticals businesses into two separate listed entities. The pharmaceuticals business will get vertically demerged from Piramal Enterprises and consolidated under Piramal Pharmaceutical Development Services Private Limited (PPL), the group said in a statement. Two operating subsidiaries will also be amalgamated with Piramal Pharma, to further simplify the pharma corporate structure. PHL Fininvest Private Limited will be amalgamated with Piramal Enterprises Ltd. to create a large listed NBFC, the group said. The merged housing finance company, post the DHFL acquisition, will remain a wholly-owned subsidiary of Piramal Enterprises. The demerger is expected to unlock significant value for PEL shareholders, the group said. Ajay Piramal, Chairman, Piramal Group, said, "Over the years, Piramal Enterprises has grown multi-fold with diverse businesses under one listed holding company structure. In line with our stated strategy, the Board has approved the demerger and simplification of our corporate structure, to create two independent listed entities in Financial Services and Pharmaceuticals, with a leadership position across the business segments they operate in. It will firmly empower both entities to be future-ready and enable them to independently pursue their growth strategies with sharper focus and identity". Piramal Enterprises will get transformed into a large listed diversified NBFC, focused on retail and wholesale financing, with a consolidated loan book of INR 650.00 billion. Piramal Pharma will be a large India-listed pharma company with proven capabilities in contract development & manufacturing, global distribution of complex hospital generics, and a large geographic footprint in the consumer products market in India. The demerger is subject to shareholders, creditors and regulatory approvals Published by HT Digital Content Services with permission from MINT.


ę S&P Capital IQ 2021
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Financials
Sales 2022 144 B 1 927 M 1 927 M
Net income 2022 25 603 M 342 M 342 M
Net Debt 2022 479 B 6 387 M 6 387 M
P/E ratio 2022 23,6x
Yield 2022 1,31%
Capitalization 601 B 8 019 M 8 017 M
EV / Sales 2022 7,48x
EV / Sales 2023 6,17x
Nbr of Employees 6 638
Free-Float 53,2%
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Number of Analysts 5
Last Close Price 2 516,90 INR
Average target price 3 102,40 INR
Spread / Average Target 23,3%
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Managers and Directors
Peter D. DeYoung Chief Executive Officer
Bector Vikram Co-President & Chief Human Resources Officer
Vivek Valsaraj Co-President & Chief Financial Officer
Rajesh Ratanlal Laddha Group Chief Financial Officer & Executive Director
Ajay Gopikisan Piramal Chairman
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