Page 1

Piramal PRESS RELEASE Piramal Enterprises Limited Announces Consolidated Results for Q4 & FY2021 Delivered resilient performance in FY 2021 despite the unprecedented global business environment Mumbai , India | May 13 , 2021 : Piramal Enterprises Limited ( ‘ PEL ' , NSE : PEL , BSE : 500302 , 912460 ) today announced its consolidated results for the Fourth Quarter ( Q4 ) and Full Year FY2021 ended 31st March 2021 . Consolidated Financial Highlights Delivered resilient performance in FY 2021 , while executing on its earlier stated transformation plan , despite the unprecedented global business environment Balance Sheet : Shareholders ' Equity increased by 29 % to INR 35,139 Cr . in the last 2 years 45 % reduction in Net Debt by INR 24,968 Cr . in the last 2 years - - Raised > INR 51,000 Cr . of long - term funds in the last 2 years PEL Net Debt - to - Equity of 0.9x times " P & L : FY 2021 performance : • Revenue at INR 12,809 Cr . , broadly stable year over year • Significant Increase in Net Profit of INR 1,413 Cr . versus INR 21 Cr . in FY2020 • Normalized Net Profit of INR 2,627 Cr .; in line with INR 2,615 Cr . in FY2020 Q4 FY2021 performance : • • Revenue marginally grew to INR 3,402 Cr . versus INR 3,341 Cr . in Q4 FY2020 Normalized Net Profit of INR 748 Cr . versus INR 807 Cr . in Q4 FY2020 Proposed DHFL Acquisition : The resolution plan received approvals from the RBI in Feb - 2021 and Competition Commission of India ( CCI ) in Apr - 2021 Dividend : The Board has recommended a dividend of INR 33 per share for the approval of the Shareholders in the AGM . The total dividend payout on this account would be INR 788 Crores . Ajay Piramal , Chairman , Piramal Enterprises Ltd. said , “ PEL has delivered steady performance with revenues of INR 12,809 Crores and net profit of INR 1,413 Crores for FY21 , reflecting strong resilience during a phase of prolonged macro - economic challenges . Over the last two years , we have significantly strengthened our balance sheet and continue to transform our Financial Services business model from largely wholesale - led to a more diversified one across wholesale and retail financing . This transformation will also be augmented by our impending inorganic initiative with DHFL , that is currently undergoing regulatory process . Pursuant to the capital raise during the year in our Pharma business , we have accelerated investments in both organic and inorganic growth initiatives . In the last one year , we have also made further progress towards creating two separate listed entities . I am confident that these businesses will emerge as two strong companies , each with a long runway for growth . "