Pilani Investment & Industries Corporation Ltd

NSE: PILANIINVS BSE: 539883Banking

Pilani Investment and Industries Corporation Limited is registered as a non-deposit-taking NBFC with the Reserve Bank of India. It functions as a core investment company with main activity being investment in shares and securities of the Birla group companies and providing finance to them. [1]

₹4,378

52W: ₹4000 — ₹5980

PE 54.5 · Book ₹14557 · -70% vs book

Market Cap₹4,848 Cr

Stock P/E54.5Price to Earnings

ROCE1.96%Return on Capital

ROE1.18%Return on Equity

Div. Yield0.34%Face Value ₹10

Strengths

+Stock is trading at 0.31 times its book value

Weaknesses

−Company has low interest coverage ratio.
−Company has a low return on equity of 1.38% over last 3 years.
−Dividend payout has been low at 9.84% of profits over last 3 years

Shareholding Pattern

Promoters58.68%

FIIs0.43%

DIIs1.38%

Public39.52%

Category	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026
Promoters	57.55%	57.55%	57.55%	57.55%	57.95%▲0.4	58.12%▲0.2	58.24%▲0.1	58.68%▲0.4
FIIs	0.45%	0.56%▲0.1	0.35%▼0.2	0.38%▲0.0	0.49%▲0.1	0.43%▼0.1	0.42%▼0.0	0.43%▲0.0
DIIs	0.25%	0.39%▲0.1	0.39%	0.4%▲0.0	0.48%▲0.1	0.48%	1.36%▲0.9	1.38%▲0.0
Public	41.75%	41.51%▼0.2	41.71%▲0.2	41.68%▼0.0	41.08%▼0.6	40.98%▼0.1	39.97%▼1.0	39.52%▼0.4

Financial Statements

Metric	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025
Sales	124.44	61.51	62.61	61.63	140.74	60.86	55.04	49.55	136.39	58.79
Expenses	2.36	4.76	1.06	1.69	1.92	4.49	4.76	3.54	21.21	3.7
Operating Profit	122.08	56.75	61.55	59.94	138.82	56.37	50.28	46.01	115.18	55.09
OPM %	98.1%	92.26%	98.31%	97.26%	98.64%	92.62%	91.35%	92.86%	84.45%	93.71%
Net Profit	82.27	27.83	29.78	29.85	94.92	26.76	17.87	4.32	57.01	9.71
EPS ₹	74.3	25.13	26.9	26.96	85.73	24.17	16.14	3.9	51.49	8.77

AI Insights

Revenue Trend

TTM revenue at ₹300Cr, down 6.5% YoY. OPM at 89%.

Debt Position

Borrowings at ₹2,228Cr. Debt-to-equity ratio: 0.14x. Healthy balance sheet.

Institutional Flow

DIIs: 1.38% (+1.13pp change). FIIs: 0.43% (-0.10pp change). Promoters hold 58.68%.

Margin & Efficiency

ROCE declining from 8% (Mar 2014) to 2% (Mar 2025). Working capital days: -17.

Valuation

PE 54.5x with 1.96% ROCE. Price is -70% above book value of ₹14,557. Dividend yield: 0.34%.