Pioneer Investcorp Ltd

PIONRINV

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Market Cap

₹ 122 Cr

P/E

9.53

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Investment Checklist

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Performance

STEADY PERFORMER

Valuation

REASONABLE

Growth

SLUGGISH

Profitability

MODERATE MARGIN

Technicals

Bullish

Risk

HIGH RISK

Investment Checklist

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Price

PE Ratio

Price

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Overview

Detailed Summary

Pioneer Investcorp Ltd is a SEBI registered Category I Merchant Banker, providing a range of financial services including investment banking, project finance, and corporate advisory.

The company is expanding its operations to target non-resident clientele, leveraging its in-house research division for qualitative and quantitative insights.

Pioneer has established itself in issue management and corporate advisory services, involving capital structuring and debt syndication to support development projects.

The company has enhanced its portfolio through several acquisitions and amalgamations, consolidating control and expanding service offerings in equity, commodity markets, and investment advisory.

In the financial year 2022-23, Pioneer Wealth Management Services Ltd., a wholly owned subsidiary, registered with SEBI as a Research Analyst and Investment Advisor.

Sector

Finance

Industry

Finance - Small

Market Cap

122 Cr

Volatility

High Risk

P/E Ratio

9.5

Industry P/E

20.4

PEG Ratio

0.1

P/B Ratio

0.7

52W High

107.80

52W Low

55.00

Sales CAGR

13.73%

0.53%

-4.56%

10Y

2.62%

Profit CAGR

93.86%

-4.91%

7.72%

10Y

4.77%

ROE

TTM

7.78%

3.16%

2.62%

10Y

3.09%

ROCE

TTM

12.64%

9.72%

9.08%

10Y

10.23%

Technicals

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Forecasts

Peers

Symbol	Price	Market Cap	P/E	P/B	Div Yield (%)	ROE (%)	ROCE (%)	ROA (%)
AVAILFC	158.00	157 Cr	1.38	0.12	0.00	8.99	0.02	0.02
MAHAPEXLTD	104.81	157 Cr	—	0.34	0.00	-0.05	0.52	1.64
WSFX	61.00	135 Cr	—	4.68	0.88	-12.17	-11.15	-8.19
PIONRINV	104.04	122 Cr	9.53	0.74	0.00	7.78	12.64	3.44
FOCUS	142.00	103 Cr	139.22	14.15	0.04	14.52	19.31	13.70
MYMUDRA	83.85	96 Cr	10.61	1.79	0.00	19.59	22.78	14.75
CHRTEDCA	279.00	84 Cr	12.53	0.48	0.00	3.83	4.98	3.74

Financial Statements

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Consolidated Quarterly Results (in ₹ Crores)

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Total Figures

QoQ Changes

Total Figures

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025
Revenue	8.35	7.34	8.43	11	8.64	8.00	9.66	9.91	15	16
Expenses	5.26	5.07	5.46	8.62	5.10	5.86	5.57	7.95	8.43	7.72
Interest	2.32	1.82	2.50	4.01	2.26	4.10	3.01	3.83	4.02	2.39
Financing Profit	0.77	0.45	0.47	-1.18	1.28	-1.96	1.08	-1.87	2.86	5.46
Financing Margin %	9.22	6.13	5.58	-10.31	14.81	-24.50	11.18	-18.87	18.68	35.07
Other Income	0.11	0.02	0.21	6.88	2.66	2.67	0.82	5.30	1.72	0.82
Depreciation	0.25	0.26	0.27	0.28	0.24	0.23	0.20	0.39	0.17	0.17
Profit Before Tax	0.63	0.21	0.41	5.42	3.71	0.47	1.70	3.03	4.41	6.12
Tax %	49.21	47.62	26.83	38.38	11.32	42.55	12.35	64.69	18.14	20.75
Net Profit	0.32	0.11	0.30	3.34	3.29	0.28	1.49	1.07	3.61	4.85
EPS in Rs	0.26	0.09	0.24	2.72	2.67	0.23	1.21	2.31	2.94	3.94
Gross NPA %	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Net NPA %	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00

Consolidated Profit Loss (in ₹ Crores)

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Total Figures

YoY Changes

Total Figures

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
Revenue	62	33	37	42	30	36	32	36	36	43
Expenses	24	31	28	26	19	20	21	24	24	28
Interest	13	7.14	7.64	11	8.47	9.69	6.55	11	13	15
Financing Profit	25	-4.40	1.77	5.68	3.27	5.62	4.08	0.50	-1.48	0.11
Financing Margin %	40.12	-13.15	4.79	13.41	10.74	15.81	12.79	1.40	-4.08	0.26
Other Income	0.89	6.22	0.68	0.55	0.70	0.45	0.47	7.22	13	11
Depreciation	0.54	0.57	0.59	1.24	1.17	1.08	0.95	1.06	1.06	0.99
Profit Before Tax	25	1.25	1.86	4.99	2.80	4.99	3.59	6.66	11	9.61
Tax %	29.66	74.24	-4.04	37.60	68.55	25.25	42.79	38.90	26.15	32.88
Net Profit	18	0.32	1.93	3.11	0.88	3.73	2.06	4.07	7.89	6.45
EPS in Rs	—	—	-0.07	2.85	0.72	3.04	1.68	3.31	6.42	10.40
Dividend Payout %	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	—

Consolidated Balance Sheet (in ₹ Crores)

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Total Figures

YoY Changes

Total Figures

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Equity Capital	13	13	13	13	13	13	13	13	13	13
Reserves	96	113	110	112	117	119	124	126	135	143
Borrowings	34	50	46	72	42	103	51	84	108	143
Other Liabilities	8.01	20	10	11	9.42	8.28	16	24	149	150
Total Liabilities	151	197	179	207	182	243	205	248	406	449
Fixed Assets	2.38	2.75	4.46	4.57	6.27	4.69	4.85	3.94	4.82	4.94
CWIP	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Investments	0.00	0.00	0.00	19	16	16	18	18	119	122
Other Assets	148	194	174	183	160	222	182	226	282	322
Total Assets	151	197	179	207	182	243	205	248	406	449

Consolidated Cash Flows (in ₹ Crores)

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Total Figures

YoY Changes

Total Figures

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Cash from Operating Activity	29	10	17	-12	32	-55	68	-30	-23	-25
Cash from Investing Activity	4.80	-11	-1.06	-0.67	6.03	0.65	-1.59	1.31	6.40	4.98
Cash from Financing Activity	-40	2.64	-12	20	-43	52	-62	26	11	21
Net Cash Flow	-5.92	1.38	4.11	7.26	-4.99	-1.96	4.96	-2.50	-5.68	1.32

Shareholdings

Shareholding History

Quarterly

Yearly

Quarterly

	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025
Promoters	64.80%	64.80%	64.80%	64.80%	64.80%	64.80%	64.80%	64.80%	64.80%	64.80%	64.80%	65.34%
FIIs	3.79%	3.79%	3.79%	3.79%	3.79%	3.79%	3.79%	3.79%	3.59%	2.99%	2.99%	2.99%
DIIs	0.22%	0.22%	0.22%	0.22%	0.22%	0.22%	0.22%	0.22%	0.22%	0.22%	0.22%	0.22%
Public	31.18%	31.18%	31.18%	31.18%	31.18%	31.18%	31.18%	31.18%	31.39%	31.99%	31.99%	31.46%
Total Shareholders	4,045	4,078	4,094	4,116	4,086	4,093	4,118	4,112	4,811	4,932	4,853	4,895

Market Transactions

Date	Party	Category	Type	Avg Price (₹)	Total Value (₹)	Quantity	Percent Traded
Oct 06, 2025	Gairang manhar gandhi	Insider - Promoter & Director	Acquisition	68.50	0.10 Cr	15,000	0.12
Sep 26, 2025	Gairang manhar gandhi	Insider - Promoter & Director	Acquisition	68.50	0.34 Cr	50,000	0.40
Aug 29, 2025	Gairang manhar gandhi revised	Insider - Promoter & Director	Acquisition	72.84	0.12 Cr	15,800	0.12
Aug 29, 2025	Gairang manhar gandhi	Insider - Connected Person	Acquisition	72.84	0.12 Cr	15,800	0.12

Projection

Actions

Action Type

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Announcements

Last 7 days

Newest

Sentiment

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Documents

Presentations

Concalls

Reports

Presentations

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Financial Statements

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Discover detailed, AI-driven financial summaries that break down key metrics, trends, and insights—empowering you to make smarter investment decisions.

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Consolidated Quarterly Results (in ₹ Crores)

View Standalone

Total Figures

QoQ Changes

Total Figures

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025
Revenue	8.35	7.34	8.43	11	8.64	8.00	9.66	9.91	15	16
Expenses	5.26	5.07	5.46	8.62	5.10	5.86	5.57	7.95	8.43	7.72
Interest	2.32	1.82	2.50	4.01	2.26	4.10	3.01	3.83	4.02	2.39
Financing Profit	0.77	0.45	0.47	-1.18	1.28	-1.96	1.08	-1.87	2.86	5.46
Financing Margin %	9.22	6.13	5.58	-10.31	14.81	-24.50	11.18	-18.87	18.68	35.07
Other Income	0.11	0.02	0.21	6.88	2.66	2.67	0.82	5.30	1.72	0.82
Depreciation	0.25	0.26	0.27	0.28	0.24	0.23	0.20	0.39	0.17	0.17
Profit Before Tax	0.63	0.21	0.41	5.42	3.71	0.47	1.70	3.03	4.41	6.12
Tax %	49.21	47.62	26.83	38.38	11.32	42.55	12.35	64.69	18.14	20.75
Net Profit	0.32	0.11	0.30	3.34	3.29	0.28	1.49	1.07	3.61	4.85
EPS in Rs	0.26	0.09	0.24	2.72	2.67	0.23	1.21	2.31	2.94	3.94
Gross NPA %	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Net NPA %	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00

Consolidated Profit Loss (in ₹ Crores)

View Standalone

Total Figures

YoY Changes

Total Figures

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
Revenue	62	33	37	42	30	36	32	36	36	43
Expenses	24	31	28	26	19	20	21	24	24	28
Interest	13	7.14	7.64	11	8.47	9.69	6.55	11	13	15
Financing Profit	25	-4.40	1.77	5.68	3.27	5.62	4.08	0.50	-1.48	0.11
Financing Margin %	40.12	-13.15	4.79	13.41	10.74	15.81	12.79	1.40	-4.08	0.26
Other Income	0.89	6.22	0.68	0.55	0.70	0.45	0.47	7.22	13	11
Depreciation	0.54	0.57	0.59	1.24	1.17	1.08	0.95	1.06	1.06	0.99
Profit Before Tax	25	1.25	1.86	4.99	2.80	4.99	3.59	6.66	11	9.61
Tax %	29.66	74.24	-4.04	37.60	68.55	25.25	42.79	38.90	26.15	32.88
Net Profit	18	0.32	1.93	3.11	0.88	3.73	2.06	4.07	7.89	6.45
EPS in Rs	—	—	-0.07	2.85	0.72	3.04	1.68	3.31	6.42	10.40
Dividend Payout %	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	—

Consolidated Balance Sheet (in ₹ Crores)

View Standalone

Total Figures

YoY Changes

Total Figures

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Equity Capital	13	13	13	13	13	13	13	13	13	13
Reserves	96	113	110	112	117	119	124	126	135	143
Borrowings	34	50	46	72	42	103	51	84	108	143
Other Liabilities	8.01	20	10	11	9.42	8.28	16	24	149	150
Total Liabilities	151	197	179	207	182	243	205	248	406	449
Fixed Assets	2.38	2.75	4.46	4.57	6.27	4.69	4.85	3.94	4.82	4.94
CWIP	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Investments	0.00	0.00	0.00	19	16	16	18	18	119	122
Other Assets	148	194	174	183	160	222	182	226	282	322
Total Assets	151	197	179	207	182	243	205	248	406	449

Consolidated Cash Flows (in ₹ Crores)

View Standalone

Total Figures

YoY Changes

Total Figures

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Cash from Operating Activity	29	10	17	-12	32	-55	68	-30	-23	-25
Cash from Investing Activity	4.80	-11	-1.06	-0.67	6.03	0.65	-1.59	1.31	6.40	4.98
Cash from Financing Activity	-40	2.64	-12	20	-43	52	-62	26	11	21
Net Cash Flow	-5.92	1.38	4.11	7.26	-4.99	-1.96	4.96	-2.50	-5.68	1.32

Oscillators

BearishNeutralBullish

Bullish

Bearish

Neutral

Bullish

Overall

BearishNeutralBullish

Bullish

Bearish

Neutral

Bullish

Moving Averages

BearishNeutralBullish

Bullish

Bearish

Neutral

Bullish

Overall

BearishNeutralBullish

Bullish

Bearish

Neutral

Bullish

Peers

Symbol	Price	Market Cap	P/E	P/B	Div Yield (%)	ROE (%)	ROCE (%)	ROA (%)
AVAILFC	158.00	157 Cr	1.38	0.12	0.00	8.99	0.02	0.02
MAHAPEXLTD	104.81	157 Cr	—	0.34	0.00	-0.05	0.52	1.64
WSFX	61.00	135 Cr	—	4.68	0.88	-12.17	-11.15	-8.19
PIONRINV	104.04	122 Cr	9.53	0.74	0.00	7.78	12.64	3.44
FOCUS	142.00	103 Cr	139.22	14.15	0.04	14.52	19.31	13.70
MYMUDRA	83.85	96 Cr	10.61	1.79	0.00	19.59	22.78	14.75
CHRTEDCA	279.00	84 Cr	12.53	0.48	0.00	3.83	4.98	3.74

Overview

Detailed Summary

Pioneer Investcorp Ltd is a SEBI registered Category I Merchant Banker, providing a range of financial services including investment banking, project finance, and corporate advisory.

The company is expanding its operations to target non-resident clientele, leveraging its in-house research division for qualitative and quantitative insights.

Pioneer has established itself in issue management and corporate advisory services, involving capital structuring and debt syndication to support development projects.

The company has enhanced its portfolio through several acquisitions and amalgamations, consolidating control and expanding service offerings in equity, commodity markets, and investment advisory.

In the financial year 2022-23, Pioneer Wealth Management Services Ltd., a wholly owned subsidiary, registered with SEBI as a Research Analyst and Investment Advisor.

Sector

Finance

Industry

Finance - Small

Market Cap

122 Cr

Volatility

High Risk

P/E Ratio

9.5

Industry P/E

20.4

PEG Ratio

0.1

P/B Ratio

0.7

52W High

107.80

52W Low

55.00

Sales CAGR

13.73%

0.53%

-4.56%

10Y

2.62%

Profit CAGR

93.86%

-4.91%

7.72%

10Y

4.77%

ROE

TTM

7.78%

3.16%

2.62%

10Y

3.09%

ROCE

TTM

12.64%

9.72%

9.08%

10Y

10.23%