{"id":140749,"date":"2023-02-09T08:24:04","date_gmt":"2023-02-09T13:24:04","guid":{"rendered":"https:\/\/44.250.171.167\/?p=140749"},"modified":"2023-02-09T08:24:06","modified_gmt":"2023-02-09T13:24:06","slug":"piramal-enterprises-ltd-q3-fy23-earnings-conference-call-insights","status":"publish","type":"post","link":"https:\/\/alphastreet.com\/india\/piramal-enterprises-ltd-q3-fy23-earnings-conference-call-insights\/","title":{"rendered":"Piramal Enterprises Ltd Q3 FY23 Earnings Conference Call Insights"},"content":{"rendered":"<p><strong>Key highlights from Piramal Enterprises Ltd (<a href=\"https:\/\/44.250.171.167\/symbol\/PEL\/\">PEL<\/a>) Q3 FY23 Earnings Concall<\/strong><\/p>\n<p><strong>Q&amp;A Highlights:<\/strong><\/p>\n<ul>\n<li>[00:16:30] Abhijit Tibrewal from Motilal Oswal asked about asset quality and the related provisions, if PEL can draw the comfort that it has fully provided on the stressed wholesale exposures. Ajay Piramal Chairman said the recognition cycle is largely completed from an asset quality recognition perspective.<\/li>\n<\/ul>\n<ul>\n<li>[00:16:37] Abhijit Tibrewal from Motilal Oswal enquired if PEL is still adhering to the timeline of exceeding investments in Shriram Group by March &#8217;23. Ajay Piramal Chairman said PEL continue to hold the listed share on its balance sheet. Going forward, whether it is a mark-to-market gain or loss, PEL will continue to monitor it and inform investors of any decisions made.<\/li>\n<\/ul>\n<ul>\n<li>[00:23:36] Shreya Shivani from CLSA enquired about the interest reversal for 3Q23. Upma Goel CFO answered that during 3Q23 the company reversed INR58 crores.<\/li>\n<\/ul>\n<ul>\n<li>[00:23:42] Shreya Shivani from CLSA also asked since product mix is rapidly changing between retail and wholesale, what\u2019s the run rate credit cost assumption. Ajay Piramal Chairman answered that credit cost for the business model that the company is striving towards would be in the 1-2% range. Currently, due to high levels of provisioning and the de-growing wholesale book, this metric might look different in the short term.<\/li>\n<\/ul>\n<ul>\n<li>[00:33:24] Nischint Chawathe from Kotak asked how much interest rates PEL has raised over the last 4-5 quarters. Ajay Piramal Chairman answered that on the portfolio about 50 bps and in terms of new originations about 30 bps on the home loan side.<\/li>\n<\/ul>\n<ul>\n<li>[00:39:31] Gopinath from PNR Investments queried why PEL is not retaining Shriram when that business is doing good. Ajay Piramal Chairman said it is possible to directly own Shriram shares, but it may not be the most beneficial option for shareholders. PEL will look into the various possibilities over the coming months and let shareholders know when there is something to disclose.<\/li>\n<\/ul>\n<ul>\n<li>[00:50:03] Bhaskar Basu at Jefferies asked about AIF amount being stable for some time but in 3Q23, there\u2019s a INR2,000 crore increase. Ajay Piramal Chairman answered that this quarter the only increase would be in the form of one resolution that PEL has done.<\/li>\n<\/ul>\n<ul>\n<li>[00:52:38] Sandeep Jain of Baroda BNP asked about the operating cost guidance. Ajay Piramal Chairman answered opex to assets was historically 1.3%, but is currently at 3%. As PEL continues to make investments in retail, this number will stay around 3% for another year or so. In the medium term, the expectation is for it to be in the 2.5-3% range with wholesale being 1 and retail being 3.<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Key highlights from Piramal Enterprises Ltd (PEL) Q3 FY23 Earnings Concall Q&amp;A Highlights: [00:16:30] Abhijit Tibrewal from Motilal Oswal asked about asset quality and the related provisions, if PEL can draw the comfort that it has fully provided on the stressed wholesale exposures. Ajay Piramal Chairman said the recognition cycle is largely completed from an [&hellip;]<\/p>\n","protected":false},"author":1767,"featured_media":125416,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":"","jetpack_publicize_message":"Piramal Enterprises Ltd Q3 FY23 Earnings Conference Call Insights #PEL #Q3 #FY23 #Earnings #Stocks","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[9825,392,5747],"tags":[10169,1115,8145],"class_list":["post-140749","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-earnings-call-highlights","category-earnings","category-healthcare-stocks","tag-earnings","tag-pharmaceuticals","tag-retail"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/alphastreet.com\/india\/wp-content\/uploads\/2021\/11\/Earnings-Coverage.jpg","jetpack_likes_enabled":false,"jetpack-related-posts":[{"id":130429,"url":"https:\/\/alphastreet.com\/india\/piramal-enterprises-ltd-q4-fy22-earnings-conference-call-insights\/","url_meta":{"origin":140749,"position":0},"title":"Piramal Enterprises Ltd Q4 FY22 Earnings Conference Call Insights","author":"Praveen","date":"June 1, 2022","format":false,"excerpt":"Key highlights from Piramal Enterprises Ltd (PEL) Q4 FY22 Earnings Concall Management Update: Over the next five years, PEL aspire to achieve a retail wholesale mix of two-thirds retail and one-third wholesale. PEL said it wants to double the AUM of the Financial Services business from FY22. PEL will also\u2026","rel":"","context":"In &quot;Concall Highlights&quot;","block_context":{"text":"Concall Highlights","link":"https:\/\/alphastreet.com\/india\/category\/earnings-call-highlights\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/11\/Earnings-Coverage.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/11\/Earnings-Coverage.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/11\/Earnings-Coverage.jpg?resize=525%2C300&ssl=1 1.5x"},"classes":[]},{"id":127282,"url":"https:\/\/alphastreet.com\/india\/piramal-enterprises-ltd-q3-fy22-earnings-conference-call-insights\/","url_meta":{"origin":140749,"position":1},"title":"Piramal Enterprises Ltd Q3 FY22 Earnings Conference Call Insights","author":"Praveen","date":"February 11, 2022","format":false,"excerpt":"https:\/\/www.youtube.com\/watch?v=Wh0LRTM3LTg Key highlights from Piramal Enterprises Ltd (PEL) Q3 FY22 Earnings Concall Management Update: In financial service, PEL said it plans to increase the share of retail loans to two-thirds in the medium- to long-term. Q&A Highlights: Abhijit Tibrewal from Motilal Oswal asked about the disbursement split between the Engine\u2026","rel":"","context":"In &quot;Concall Highlights&quot;","block_context":{"text":"Concall Highlights","link":"https:\/\/alphastreet.com\/india\/category\/earnings-call-highlights\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/11\/Earnings-Coverage.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/11\/Earnings-Coverage.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/11\/Earnings-Coverage.jpg?resize=525%2C300&ssl=1 1.5x"},"classes":[]},{"id":132138,"url":"https:\/\/alphastreet.com\/india\/piramal-enterprises-ltd-q1-fy23-earnings-conference-call-insights\/","url_meta":{"origin":140749,"position":2},"title":"Piramal Enterprises Ltd Q1 FY23 Earnings Conference Call Insights","author":"Praveen","date":"August 2, 2022","format":false,"excerpt":"https:\/\/youtu.be\/kHUXId_eoxg Key highlights from Piramal Enterprises Ltd (PEL) Q1 FY23 Earnings Concall Management Update: PEL said that it\u2019s on track to completion of de-merger and the listing of Piramal Pharma by 3Q23. Q&A Highlights: Tushar Manudhane from Motilal Oswal asked about the overall pharma revenue guidance for FY23-24. Jairam Sridharan\u2026","rel":"","context":"In &quot;Concall Highlights&quot;","block_context":{"text":"Concall Highlights","link":"https:\/\/alphastreet.com\/india\/category\/earnings-call-highlights\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/11\/Earnings-Coverage.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/11\/Earnings-Coverage.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/11\/Earnings-Coverage.jpg?resize=525%2C300&ssl=1 1.5x"},"classes":[]},{"id":140859,"url":"https:\/\/alphastreet.com\/india\/piramal-enterprises-ltd-pel-q3-fy23-earnings-concall-transcript\/","url_meta":{"origin":140749,"position":3},"title":"Piramal Enterprises Ltd (PEL) Q3 FY23 Earnings Concall Transcript","author":"IRS_INDIA","date":"February 10, 2023","format":false,"excerpt":"Piramal Enterprises Ltd (NSE:PEL) Q3 FY23 Earnings Concall dated Feb. 08, 2023. Corporate Participants: Hitesh Dhaddha\u00a0--\u00a0Chief Investor Relations Ajay Piramal\u00a0--\u00a0Chairman, Piramal Group Anand Piramal\u00a0--\u00a0Executive Director, Piramal Group Yesh Nadkarni\u00a0--\u00a0Chief Executive Officer, Wholesale Lending, Piramal Capital & Housing Finance Ltd Upma Goel\u00a0--\u00a0Chief Financial Officer Jairam Sridharan\u00a0--\u00a0Managing Director of Piramal Capital &\u2026","rel":"","context":"In &quot;Earnings Call Transcripts&quot;","block_context":{"text":"Earnings Call Transcripts","link":"https:\/\/alphastreet.com\/india\/category\/transcripts\/"},"img":{"alt_text":"Earnings Conference Call Transcript","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2020\/09\/Transcript-thumbnail-e1657213425955.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2020\/09\/Transcript-thumbnail-e1657213425955.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2020\/09\/Transcript-thumbnail-e1657213425955.jpg?resize=525%2C300&ssl=1 1.5x"},"classes":[]},{"id":132924,"url":"https:\/\/alphastreet.com\/india\/piramal-enterprises-ltd-pel-q1-fy23-earnings-concall-transcript\/","url_meta":{"origin":140749,"position":4},"title":"Piramal Enterprises Ltd (PEL) Q1 FY23 Earnings Concall Transcript","author":"IRS_INDIA","date":"July 29, 2022","format":false,"excerpt":"Piramal Enterprises Ltd (NSE:PEL) Q1 FY23 Earnings Concall dated Jul. 29, 2022 Corporate Participants: Hitesh Dhaddha -- Chief Investor Relations Officer Ajay Piramal -- Chairman Khushru Jijina -- Executive Director, Financial Services, Piramal Enterprises Ltd Vivek Valsaraj -- President & Chief Financial Officer Jairam Sridharan -- MD, Piramal Capital &\u2026","rel":"","context":"In &quot;Earnings Call Transcripts&quot;","block_context":{"text":"Earnings Call Transcripts","link":"https:\/\/alphastreet.com\/india\/category\/transcripts\/"},"img":{"alt_text":"Earnings Conference Call Transcript","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2020\/09\/Transcript-thumbnail-e1657213425955.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2020\/09\/Transcript-thumbnail-e1657213425955.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2020\/09\/Transcript-thumbnail-e1657213425955.jpg?resize=525%2C300&ssl=1 1.5x"},"classes":[]},{"id":127285,"url":"https:\/\/alphastreet.com\/india\/piramal-enterprises-ltd-pel-q3-fy22-earnings-concall-transcript\/","url_meta":{"origin":140749,"position":5},"title":"Piramal Enterprises Ltd (PEL) Q3 FY22 Earnings Concall Transcript","author":"Nishad","date":"February 11, 2022","format":false,"excerpt":"Piramal Enterprises Ltd (NSE : PEL) Q3 FY22 Earnings Concall dated\u00a0 Feb. 10, 2022, Corporate Participants: Hitesh Dhaddha -- Chief Investor Relations Officer Ajay Piramal -- Chairman, Piramal Group Jairam Sridharan -- Chief Executive Officer, Piramal Retail Finance Khushru Jijina -- Executive Director, Financial Services Analysts: Abhijit Tibrewal -- Motilal\u2026","rel":"","context":"In &quot;Earnings Call Transcripts&quot;","block_context":{"text":"Earnings Call Transcripts","link":"https:\/\/alphastreet.com\/india\/category\/transcripts\/"},"img":{"alt_text":"Earnings Conference Call Transcript","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2020\/09\/Transcript-thumbnail-e1657213425955.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2020\/09\/Transcript-thumbnail-e1657213425955.jpg?resize=350%2C200&ssl=1 1x, 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