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Piramal Finance Limited — Bonds & AA (CARE) Rating

NBFC · Financial Services

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Agency Rating
AA (CARE)
Most common current rating on senior bonds
17 of 22 rated · CARE, 30 Sep 2025
Total Debt Outstanding
₹37,909 Cr
Across 35 instruments
Active Bonds
35
First Issue
14 Jul 2016
Latest Issue
8 Oct 2026
Maturity Range
2027 - 2035
Observation
35 active bonds tracked from this issuer.
View details →
Coverage: High Data Quality: High Sources: NSE, BSE, SEBI, rating agencies

Latest events

Last 90 days · company disclosures to the exchanges and agency announcements. Not our assessment.
  • 3 Nov 2026 Interest payment notice Intimation regarding interest payment and redemption of NCDs
  • 14 Oct 2026 Debt securities notice Reporting of outstanding Non-Convertible Debentures issued on private placement basis for the half-year ended 30th September 2026
  • 8 Oct 2026 Debt securities notice Intimation regarding allotment of 52,500 Non-Convertible Debentures on Private Placement basis at the Committee Meeting held on 8th October…
  • 28 Sep 2026 Debt securities notice Outcome of meeting of Committee of Directors (Administration, Authorisation & Finance) for issuance of NCDs on private placement basis
  • 25 Sep 2026 Interest payment notice Intimation regarding Interest Payment and Part Redemption of NCDs
Issuer health card 1 item to look at
  • Current ratings CARE AA, ICRA AA, CARE AA-
  • Rating range Current ratings range from AA- (CARE 31 May 2025) to AA+ (CARE 31 May 2025, CRISIL 30 Sep 2026)
  • Rating direction, 12 months 0 upgrades, 0 downgrades
  • Watch / negative outlook None in 12 months
  • Issuer not cooperating No such actions in 12 months
  • Rating withdrawn, 12 months No withdrawal of this issuer's rating in 12 months
  • Newest agency rating Dated 30 Sep 2026
  • Payment record 28 payment disclosures since 17 Jul 2026: all on time
  • Defaults on record No bond marked defaulted
  • Traded in the last 30 days 13 of 35 active bonds had an exchange trade
  • Exchange filings, 90 days 76 filings on NSE/BSE

A checklist of published facts, not a rating or a view on credit quality. Ratings are the agencies' own; payment record covers NSE disclosures since 17 Jul 2026; "late" means paid more than 3 days after the due date (next-working-day payments are allowed). Rating range covers every current rating on the issuer's active bonds, with each agency's rating date. Rating actions count only when the agency's heading names this issuer, not pools or trusts it originated; a withdrawal is flagged only when the issuer's rating itself is withdrawn, not a single facility. Rating age uses the newest rating date on file and is flagged when older than 12 months. See methodology.

Alert me about Piramal Finance Limited An email when a rating agency acts on this issuer (including any cut to default grade D) or a payment is disclosed late or short. Free, no account needed.
01 Issuer Overview
Sector
Financial Services
Issuer Type
NBFC
First Tracked Bond
14 Jul 2016
Start of this issuer's debt program timeline
  • 35 active bonds tracked from this issuer.
  • 32 of 33 tracked bonds with a stated security status are secured. (based on 33 bonds with a disclosed security status)
  • Most recent rating action: update by CRISIL on 28 Oct 2026.

Piramal Finance Limited is an NBFC in the Financial Services sector. Coupon rates on outstanding bonds range from 6.75% - 9.76%, paid annually. Bonds mature between 2027 - 2035.

Data sourced from NSDL, BSE, NSE, and registered credit rating agencies. Verify against the issuer's offer document before transacting.

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02 Debt Profile
Outstanding Bonds
35
Tracked by RetailBonds
Amount Tracked
₹37,909 Cr
Of bonds tracked by RetailBonds — not the issuer's total outstanding debt (disclosed for 29 of 35 bonds)
Avg Coupon
9.02%
Range 6.75% - 9.76%
Avg Remaining Tenure
2.9 Yrs
Nearest maturity Jan 2027
Secured
96%
32 of 33 bonds with known status
Callable
2
Of 35 bonds
Avg Spread vs G-Sec
+164 bps
Credit premium, from 12 bonds with a current market yield

Maturity Profile

Active bonds maturing, by year. Bar height relative to the tallest year (12 bonds).

0 2027: 12 bonds, ₹9,450 Cr tracked, avg coupon 8.95% 12 bonds 2027 2028: 5 bonds, ₹1,623 Cr tracked, avg coupon 9.20% 5 bonds 2028 2029: 5 bonds, ₹5,800 Cr tracked, avg coupon 9.15% 5 bonds 2029 2030: 3 bonds, ₹700 Cr tracked, avg coupon 9.22% 3 bonds 2030 2031: 5 bonds, ₹19,732 Cr tracked, avg coupon 8.47% 5 bonds 2031 2033: 1 bond, ₹0 Cr tracked, avg coupon 9.35% 1 bond 2033 2034: 2 bonds, ₹155 Cr tracked, avg coupon 9.50% 2 bonds 2034 2035: 2 bonds, ₹450 Cr tracked, avg coupon 9.10% 2 bonds 2035

Security Type / Instrument Mix

  • NCD 35 bonds · 100% · ₹37,909 Cr tracked

Funding Evolution

■ Issued that year — Cumulative outstanding (tracked)
2017: ₹1,000 Cr issued 2017 2018: ₹500 Cr issued 2018 2019: ₹1,500 Cr issued 2019 2020: ₹50 Cr issued 2020 2021: ₹19,732 Cr issued 2021 2023: ₹73 Cr issued 2023 2024: ₹155 Cr issued 2024 2025: ₹10,900 Cr issued 2025 2026: ₹4,000 Cr issued 2026 Cumulative: ₹1,000 Cr Cumulative: ₹1,500 Cr Cumulative: ₹3,000 Cr Cumulative: ₹3,050 Cr Cumulative: ₹22,782 Cr Cumulative: ₹22,854 Cr Cumulative: ₹23,010 Cr Cumulative: ₹33,910 Cr Cumulative: ₹37,910 Cr

Based on 29 of 35 active bonds with a known issue date and issue size — the rest are excluded, not assumed zero.

Financial Snapshot

Q1 FY27
Debt / Equity
0.03
 
Debt Service Coverage (DSCR)
0.00
 
Interest Service Coverage (ISCR)
0.00
 
Revenue from Operations
₹3,409.79 Cr
 
Net Profit / Loss
₹439.92 Cr
 
Profit Before Tax
₹421.08 Cr
 

As filed under SEBI LODR Reg 52(4) / Integrated Filing, filed 16 Jul 2026. Figures are reported facts, not a rating or recommendation.

03 Credit Profile
  • AA 28 bonds · 80%
  • Unrated 7 bonds · 20%
AgencyRatingOutlookBonds
CARE AA — 11
ICRA AA — 4
CARE AA- — 3
CARE AA Stable 2
CARE AA+ — 1
CRISIL AA+ Stable 1
ICRA AA Stable 1
ICRA AA NSDL record — 4
CARE AA NSDL record — 2

Recent Rating Actions

28 Oct 2026 · CRISIL
—
Update
29 Sep 2026 · CRISIL
—
Update
7 Sep 2026 · CRISIL
—
Update
26 Aug 2026 · CRISIL
—
Update
28 Jul 2026 · CRISIL
—
Update
29 Jun 2026 · CRISIL
—
Update
NCD Public Issues
04 Outstanding Bonds View all bonds →
ISIN Bond Name Coupon Rating Maturity YTM Last Trade Details
INE516Y07519 Piramal Finance 9.30% Jan 2027 NCD 9.30% AA- (CARE) 2027-01-07 8.75% 2026-10-14
INE516Y07527 Piramal Finance 7.70% Jan 2027 NCD 7.70% AA (CARE) 2027-01-22 — —
INE641O08035 Piramal Finance 9.55% Mar 2027 NCD 9.55% AA (ICRA, NSDL record 2017) 2027-03-08 9.70% 2026-11-04
INE202B07JS2 Piramal Finance 9.10% Apr 2027 NCD 9.10% AA (CARE) 2027-04-16 8.45% 2026-10-27
INE202B07JP8 Piramal Finance 9.30% May 2027 NCD 9.30% AA- (CARE) 2027-05-07 — —
IN8202B07018 Piramal Finance 9.30% May 2027 NCD 9.30% — 2027-05-07 — —
INE202B07JR4 Piramal Finance 9.15% Jun 2027 NCD 9.15% AA (CARE) 2027-06-17 9.14% 2026-11-05
INE202B07JT0 Piramal Finance 9.00% Jun 2027 NCD 9.00% AA (CARE) 2027-06-28 8.70% 2026-11-05
INE140A07831 Piramal Finance 9.12% Aug 2027 NCD 9.12% AA+ (CARE) 2027-08-06 8.58% 2026-10-22
IN8140A07079 Piramal Finance 9.12% Aug 2027 NCD 9.12% — 2027-08-06 — —
INE641O07144 Piramal Finance 7.96% Sep 2027 NCD 7.96% AA (ICRA, NSDL record 2017) 2027-09-20 — —
INE202B07JW4 Piramal Finance 8.75% Oct 2027 NCD 8.75% AA (ICRA) 2027-10-29 9.00% 2026-10-30
INE140A07849 Piramal Finance 9.19% Aug 2028 NCD 9.19% AA- (CARE) 2028-08-08 — 2025-11-18
INE202B07JV6 Piramal Finance 8.80% Aug 2028 NCD 8.80% AA (CARE) 2028-08-11 — 2026-08-04
INE140A07765 Piramal Finance 9.20% Nov 2028 NCD 9.20% AA (ICRA) 2028-11-03 8.53% 2026-10-30
INE516Y07014 Piramal Finance 9.27% Dec 2028 NCD 9.27% — 2028-12-19 — —
INE202B07JY0 Piramal Finance 9.52% Dec 2028 NCD 9.52% AA (CARE, NSDL record 2025) 2028-12-19 — —
INE516Y07063 Piramal Finance 9.51% Mar 2029 NCD 9.51% — 2029-03-09 — —
INE202B07JX2 Piramal Finance 9.76% Mar 2029 NCD 9.76% AA (CARE, NSDL record 2025) 2029-03-09 — —
INE140A07823 Piramal Finance 9.30% Apr 2029 NCD 9.30% AA (CARE) 2029-04-09 — 2026-10-06
INE202B07JZ7 Piramal Finance 8.57% Nov 2029 NCD 8.57% AA+ (CRISIL) 2029-11-05 — —
INE202B07KA8 Piramal Finance 8.62% Nov 2029 NCD 8.62% — 2029-11-22 — —
INE202B07JQ6 Piramal Finance 9.25% Jun 2030 NCD 9.25% AA (ICRA) 2030-06-17 — —
INE202B07JU8 Piramal Finance 9.10% Jun 2030 NCD 9.10% AA (CARE) 2030-06-28 8.72% 2026-10-23
INE516Y07246 Piramal Finance 9.32% Nov 2030 NCD 9.32% AA (CARE) 2030-11-01 — —
INE516Y07295 Piramal Finance 9.00% Mar 2031 NCD 9.00% AA (CARE) 2031-03-28 — —
INE516Y07329 Piramal Finance 8.85% Jun 2031 NCD 8.85% AA (CARE) 2031-06-27 — —
INE516Y07428 Piramal Finance 9.00% Jul 2031 NCD 9.00% AA (ICRA, NSDL record 2021) 2031-07-23 8.67% 2026-11-04
INE516Y07378 Piramal Finance 8.75% Jul 2031 NCD 8.75% AA (ICRA) 2031-07-23 — 2026-03-27
INE516Y07444 Piramal Finance 6.75% Sep 2031 NCD 6.75% AA (CARE) 2031-09-26 9.39% 2026-11-06
INE140A07773 Piramal Finance 9.35% Nov 2033 NCD 9.35% AA (ICRA) 2033-11-03 6.29% 2026-11-03
IN8140A07053 Piramal Finance 9.50% Jul 2034 NCD 9.50% — 2034-07-07 — —
INE140A07807 Piramal Finance 9.50% Jul 2034 NCD 9.50% AA (ICRA, NSDL record 2024) 2034-07-07 — —
INE140A07815 Piramal Finance 9.10% Feb 2035 NCD 9.10% AA (CARE) 2035-02-23 — —
IN8140A07061 Piramal Finance 9.10% Feb 2035 NCD 9.10% — 2035-02-23 — —
Compare (/) Compare Bonds

YTM is the market yield from the latest BSE/NSE trade. It shows “—” when that trade is over 30 days old, the bond is under 30 days from maturity, it is a market-linked debenture, or the price failed our checks (hover the dash for the reason). A coupon is never shown as a yield.

05 Market Activity

Last 30 days, across all outstanding bonds from this issuer.

BSE Traded Value (Last 30 Days)
₹1.8 Cr
Number of Trades (Last 30 Days)
88
Avg. Yield (Last 30 Days)
8.77%
06 Payment Disclosures (SEBI Reg52(4)) 20 disclosed

Interest and redemption payments as broadcast by NSE under SEBI LODR Reg 52(4)/60, across all outstanding bonds from this issuer -- actual disclosed events, not a projected schedule.

Due DateBondTypeAmount DueAmount PaidStatusFiling
3 Nov 2026 PCHFL-9.32%-1-11-30-PVT Interest ₹4,66,00,000.00 ₹4,66,00,000.00 Paid XBRL →
3 Nov 2026 9.2% SECURED RATED LISTED NON... Interest ₹6,69,00,000.00 ₹6,69,00,000.00 Paid XBRL →
3 Nov 2026 9.35% SECURED RATED LISTED NON... Interest ₹5,23,00,000.00 ₹5,23,00,000.00 Paid XBRL →
29 Oct 2026 PFL-8.75%-29-10-27-PVT Interest ₹2,28,34,00,000.00 ₹2,28,34,00,000.00 Paid XBRL →
23 Oct 2026 PCHFL-3MOIS+SPREAD-22-1-27-PVT Interest ₹5,93,00,000.00 ₹5,93,00,000.00 Paid XBRL →
20 Oct 2026 PFL-7.96%-20-9-27-PVT Interest ₹1,09,00,000.00 ₹1,09,00,000.00 Paid XBRL →
19 Oct 2026 9.52% SECURED RATED LISTED... Interest ₹3,91,00,000.00 ₹3,91,00,000.00 Paid XBRL →
28 Sep 2026 PCFHL-6.75%-26-9-31-PVT Interest ₹4,87,42,00,000.00 ₹4,87,42,00,000.00 Paid XBRL →
28 Sep 2026 PCFHL-6.75%-26-9-31-PVT Redemption ₹4,62,07,00,000.00 ₹4,62,07,00,000.00 Paid XBRL →
21 Sep 2026 PFL-7.96%-20-9-27-PVT Interest ₹2,18,00,000.00 ₹2,18,00,000.00 Paid XBRL →
21 Sep 2026 9.52% SECURED RATED LISTED... Interest ₹4,04,00,000.00 ₹4,04,00,000.00 Paid XBRL →
18 Sep 2026 PFL-7.96%-20-9-27-PVT Redemption ₹1,67,00,00,000.00 ₹1,67,00,00,000.00 Paid XBRL →
14 Sep 2026 PFL-8.80%-11-8-28-PVT Interest ₹38,72,00,000.00 ₹38,72,00,000.00 Paid XBRL →
20 Aug 2026 PFL-7.96%-20-9-27-PVT Interest ₹2,25,00,000.00 ₹2,25,00,000.00 Paid XBRL →
19 Aug 2026 9.52% SECURED RATED LISTED... Interest ₹4,04,00,000.00 ₹4,04,00,000.00 Paid XBRL →
28 Jul 2026 PFL-9%-28-6-27-PVT Interest ₹63,00,00,000.00 ₹63,00,00,000.00 Paid XBRL →
28 Jul 2026 PFL-9.10%-28-6-30-PVT Interest ₹10,01,00,000.00 ₹10,01,00,000.00 Paid XBRL →
23 Jul 2026 PCHFL-3MOIS+SPREAD-22-1-27-PVT Interest ₹5,76,00,000.00 ₹5,76,00,000.00 Paid XBRL →
23 Jul 2026 9% SECURED RATED LISTED REDEEMABLE... Interest ₹13,86,00,000.00 ₹13,86,00,000.00 Paid XBRL →
23 Jul 2026 8.75% SECURED RATED LISTED... Interest ₹1,00,000.00 ₹1,00,000.00 Paid XBRL →

Source: NSE Debt Centralised Database, per SEBI LODR Reg 52(4)/60. Coverage begins 2 Aug 2026 — history accumulates as disclosures are broadcast.

07 Regulatory Filings
BSE Corporate Announcements
Investor Presentation 30 Oct 2026
Transcript of conference call on the Unaudited Financial Results (Standalone & Consolidated) for the quarter and half year ended 30th September 2026 23 Oct 2026
Investor Presentation to be made at the Debt Investors Call on 21st October 2026 21 Oct 2026
Credit Rating Rationale
08 Methodology & Data Coverage
DatasetCountFreshness
Credit Ratings (current) 29 2026-09-30
Rating Actions History 6 2026-10-28
Secondary-Market Trades 278 2026-11-06
Reg52(4) Payment Disclosures 20 2026-11-03

Methodology version 1.0. See full methodology for sources and limitations.

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Frequently Asked Questions
How many active bonds does Piramal Finance Limited have?

Piramal Finance Limited currently has 35 active bonds with coupons of 6.75% - 9.76%, maturities spanning 2027 - 2035.

What is Piramal Finance Limited's credit rating?

The most common current rating on Piramal Finance Limited's senior bonds is AA (CARE). Ratings on file come from CARE, CRISIL, ICRA.

Are Piramal Finance Limited's bonds secured?

Of the 33 bonds with a disclosed security status, 32 are secured (96%) and 1 is unsecured.

When do Piramal Finance Limited's bonds mature?

Piramal Finance Limited's active bonds mature between 2027 - 2035; the nearest matures in Jan 2027; the average tenure is 2.9 Yrs.

What is the average coupon on Piramal Finance Limited's bonds?

The average coupon across Piramal Finance Limited's 35 active bonds is 9.02%.

Disclaimer: This page aggregates publicly available data about Piramal Finance Limited for informational purposes only. Ratings shown are the opinion of the issuing rating agency and are not buy/sell recommendations. RetailBonds.in does not issue its own ratings or investment advice. Verify all data against the issuer’s offer document before transacting.