PPLPHARMA
Piramal Pharma share price & financials
- Price
- ₹179.42
- Market cap
- ₹26.0k Cr
- Sector
- Healthcare
- Calls analysed
- 7
Piramal Pharma Limited Q1 FY27
What went well
- Revenue from operations grew 17% YoY to INR 2,270 crores.
- EBITDA increased 72% YoY to INR 285 crores.
- EBITDA margins expanded ~400 bps to 12.5%.
What to watch
- Tax rate will remain elevated for FY27, normalizing to 24-25% only when overseas facilities scale up.
- No sales anticipated for FY27 from a large contract impacted by destocking, with resolution pending.
What Piramal Pharma Limited does
Piramal Pharma Limited operates across three businesses: Piramal Pharma Solutions, an integrated contract development and manufacturing organization (CDMO) serving global biopharma customers; Piramal Critical Care, a complex hospital generics (CHG) business focused on inhalation anesthesia and intrathecal/injectable hospital drugs; and Piramal Consumer Healthcare, which sells over-the-counter consumer and wellness brands through pharmacies, general trade, modern trade and e-commerce. It also holds an associate stake in AbbVie Therapeutics India (an ophthalmology-focused JV with AbbVie) and a minority investment in Yapan Bio, a biologics/vaccines company. Revenue is earned through CDMO contract manufacturing/development fees, branded hospital generics sales to health systems, and consumer product sales through retail and e-commerce channels.
Segments
- CDMO (Piramal Pharma Solutions)
- Complex Hospital Generics (Piramal Critical Care)
- Piramal Consumer Healthcare
- Manufacturing and development sites (global)
- 17
- CDMO manufacturing and development sites
- 15 (across US, Europe, Canada, India)
- Countries with commercial presence
- 100+
- Total employees
- 7,126
- CDMO customers
- ~500
- CHG hospital customers
- 6,000+
Guidance record · Q1 FY27
what the last two calls moved 19 tracked 2 delivered 3 missed 14 open- Consolidated Revenue Growth missed said Q4 FY25 Promised: mid-single-digit consolidated revenue for FY26 Q1 FY27: This promise for a past fiscal year was not mentioned.
- Consolidated Revenue Growth revised up said Q4 FY25 Promised: mid- to high-teen revenue growth in FY27 Q1 FY27: Management upgraded FY27 guidance back to 'mid-to-high teen revenue growth', from the 'early-to-mid-teen' guidance given in Q4 FY26. Q1 FY27 performance of 17% YoY growth supports this.
- Total Revenue on track said Q2 FY25 Promised: $2 billion revenue by FY30 Q1 FY27: The FY30 revenue target was not explicitly mentioned, but the corresponding FY30 EBITDA margin target was reiterated, suggesting the long-term plan remains intact.
All 19 tracked — every revision, and every one management stopped mentioning.
Open the guidance ledgerQuarterly results
Q1 FY27: revenue up 17.4%, net profit up 15.9% against the same quarter last year.
| Line item | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 2,242 | 2,204 | 2,754 | 1,934 | 2,044 −9% | 2,140 −3% | 2,752 −0% | 2,270 +17% |
| EBITDA | 342 | 338 | 561 | 107 | 159 −54% | 196 −42% | 461 −18% | 195 +82% |
| Net profit | 23 | 4 | 154 | -82 | -99 −530% | -136 −3500% | -9 −106% | -69 +16% |
How to read this
₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.
Performance +6.1% 1Y
1Y: ₹199.2 on 10 Sept 2025 → ₹211.35. High ₹226.62 (8 Sept 2026), low ₹133.27 (23 Mar 2026).
How the price took the results
close before → close after
- Q1 FY27
- +0.5%
- 30 Jul
- Q4 FY26
- −2.6%
- 29 Apr
- Q3 FY26
- −0.2%
- 29 Jan
- Q2 FY26
- −0.8%
- 17 Oct
The move from the last close before each results date to the first close after it — the market's first read on the quarter, not the quarter itself.
Financials, as filed
Revenue grew 7.8% a year over 3 years, FY23 to FY26. Operating margin widened to 10.4%.
| Year ending | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|
| Revenue | ₹7.1k Cr | ₹8.2k Cr | ₹9.2k Cr | ₹8.9k Cr |
| Operating profit | ₹628 Cr | ₹1.2k Cr | ₹1.4k Cr | ₹923 Cr |
| Operating margin | 8.9% | 14.6% | 15.8% | 10.4% |
| Interest | ₹344 Cr | ₹449 Cr | ₹422 Cr | ₹340 Cr |
| Depreciation | ₹676 Cr | ₹741 Cr | ₹817 Cr | ₹831 Cr |
| Net profit | ₹-186 Cr | ₹17 Cr | ₹92 Cr | ₹-326 Cr |
| Net margin | -2.6% | 0.2% | 1.0% | -3.7% |
| ROCE | 2.0% | 5.0% | 6.0% | 3.0% |
How to read this
From the company's own filings. Margins are computed from the filed sums; a year with an incomplete quarter is left blank rather than estimated.
Balance sheet
| Year ending | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|
| Equity capital | ₹995 Cr | ₹1.2k Cr | ₹1.2k Cr | ₹1.3k Cr | ₹1.3k Cr | ₹1.3k Cr |
| Reserves | ₹4.6k Cr | ₹5.5k Cr | ₹5.6k Cr | ₹6.6k Cr | ₹6.7k Cr | ₹6.8k Cr |
| Borrowings | ₹3.0k Cr | ₹4.1k Cr | ₹5.6k Cr | ₹4.7k Cr | ₹4.9k Cr | ₹5.7k Cr |
| Other liabilities | ₹2.0k Cr | ₹1.8k Cr | ₹1.9k Cr | ₹2.5k Cr | ₹3.3k Cr | ₹3.8k Cr |
| Total liabilities | ₹10.7k Cr | ₹12.6k Cr | ₹14.3k Cr | ₹15.1k Cr | ₹16.2k Cr | ₹17.6k Cr |
| Fixed assets | ₹6.1k Cr | ₹6.9k Cr | ₹7.5k Cr | ₹8.0k Cr | ₹8.8k Cr | ₹8.7k Cr |
| Capital work in progress | ₹627 Cr | ₹1.2k Cr | ₹1.4k Cr | ₹1.1k Cr | ₹567 Cr | ₹1.1k Cr |
| Investments | ₹123 Cr | ₹267 Cr | ₹639 Cr | ₹385 Cr | ₹442 Cr | ₹437 Cr |
| Other assets | ₹3.8k Cr | ₹4.3k Cr | ₹4.8k Cr | ₹5.6k Cr | ₹6.4k Cr | ₹7.4k Cr |
| Total assets | ₹10.7k Cr | ₹12.6k Cr | ₹14.3k Cr | ₹15.1k Cr | ₹16.2k Cr | ₹17.6k Cr |
How to read this
As filed each year. A line the company does not report — deposits for a non-lender, for instance — is left out rather than shown as a row of dashes.
Who owns it
As disclosed at Jun 2026
Since Jun 2025, FIIs trimmed −18.35 pp while the public added +18.16 pp.
- Promoters
- 34.8%
- FIIs
- 12.5%
- DIIs
- 14.6%
- Public
- 37.6%
- Others
- 0.5%
Since Jun 2025
- FIIs −18.35 pp
- Public +18.16 pp
- DIIs +0.32 pp
How it drifted, 12 quarters
Over this window FIIs fell from 32.4% to 12.5% — −19.9 pp.
Ownership split by quarter, oldest first. Sep '23: Promoters 35.0%, FIIs 32.4%, DIIs 8.0%, Public 24.2%, Others 0.4%.Dec '23: Promoters 35.0%, FIIs 32.5%, DIIs 9.7%, Public 22.4%, Others 0.4%.Mar '24: Promoters 35.0%, FIIs 30.6%, DIIs 12.1%, Public 21.9%, Others 0.4%.Jun '24: Promoters 34.9%, FIIs 31.4%, DIIs 12.9%, Public 20.2%, Others 0.5%.Sep '24: Promoters 34.9%, FIIs 31.7%, DIIs 13.8%, Public 19.1%, Others 0.5%.Dec '24: Promoters 34.9%, FIIs 31.7%, DIIs 14.1%, Public 18.9%, Others 0.4%.Mar '25: Promoters 34.9%, FIIs 31.5%, DIIs 14.8%, Public 18.4%, Others 0.3%.Jun '25: Promoters 34.9%, FIIs 30.9%, DIIs 14.3%, Public 19.5%, Others 0.6%.Sep '25: Promoters 34.9%, FIIs 30.3%, DIIs 14.9%, Public 19.5%, Others 0.5%.Dec '25: Promoters 34.9%, FIIs 29.7%, DIIs 15.7%, Public 19.4%, Others 0.4%.Mar '26: Promoters 34.9%, FIIs 30.2%, DIIs 15.6%, Public 19.0%, Others 0.3%.Jun '26: Promoters 34.8%, FIIs 12.5%, DIIs 14.6%, Public 37.6%, Others 0.5%.
Who bought this quarter
since Mar 2026
Disclosed holders that added to a position or appeared on the register for the first time, biggest addition first.
- Shrikrishna Services Private Limited newly disclosed 0.00% held
- AnsaPack (FC) Private Limited newly disclosed 0.00% held
- Rich Printers Private Limited newly disclosed 0.00% held
- Webteck Printpack Private Limited newly disclosed 0.00% held
The same filing shows 1 holder trimming and 1 off the list — both are in the register beside this.
Who is on the register
Named in the Jun 2026 filing
Every holder of Piramal Pharma Limited above SEBI's 1% disclosure line, and what changed since Mar 2026.
| Holder | Stake | Change |
|---|---|---|
| The Sri Krishna Trust through its Trustee Mr. Ajay G Piramal and Dr. (Mrs.) Swati A Piramal | 26.51% | unchanged |
| CA Alchemy Investments | 17.93% | unchanged |
| HDFC Trustee Company Limited-HDFC Flexi Cap Fund Mutual fund | 7.68% | −1.69 pp |
| V3 Designs LLP | 3.23% | unchanged |
| PRL Realtors LLP | 2.99% | unchanged |
| East Bridge Capital Master Fund I Ltd FPI fund | 2.00% | unchanged |
| Indiahold Limited | 1.30% | unchanged |
| Piramal Welfare Trust | 0.79% | unchanged |
| Semplice Corporate Solutions Private Limited (Formerly known as AASAN Corporate Solutions Pvt. Ltd) | 0.67% | unchanged |
| The Ajay G. Piramal Foundation | 0.33% | unchanged |
| Mr. Anand Piramal | 0.07% | unchanged |
| Anand Piramal Trust | 0.05% | unchanged |
A holder disappearing from this list has fallen below the 1% line — it is not necessarily a sale. Percentages are of total shares, as disclosed in the company's own filing. Who was buying across the market this quarter.
Mutual funds in PPLPHARMA
Filings to Aug 2026
0 new, 5 added, 2 trimmed, 0 sold out — net −117.13 L shares (−10.3%).
- Held by funds
- ₹2.0k Cr
- 12 schemes
- Biggest holder
- HDFC Flexi Cap Fund
- ₹1.5k Cr · 1.4% of that fund
| Scheme | Holding | Last month | Held since |
|---|---|---|---|
| HDFC Flexi Cap Fund HDFC Mutual Fund | ₹1.5k Cr | −117.49 L | Dec '23 |
| Nippon India Pharma Fund Nippon India Mutual Fund | ₹213 Cr | held | Jun '26 |
| Nippon India Small Cap Fund Nippon India Mutual Fund | ₹107 Cr | held | Jul '26 |
| Nippon India Value Fund Nippon India Mutual Fund | ₹59 Cr | held | Jun '26 |
| HDFC Manufacturing Fund HDFC Mutual Fund | ₹47 Cr | held | Oct '24 |
| Nippon India Nifty Pharma ETF Nippon India Mutual Fund | ₹23 Cr | +0.18 L | Sep '25 |
| Nippon India Nifty Smallcap 250 Index Fund Nippon India Mutual Fund | ₹21 Cr | +0.12 L | Feb '23 |
| Nippon India Retirement Fund - Wealth Creation Scheme Nippon India Mutual Fund | ₹21 Cr | held | Jul '26 |
HDFC, Nippon India and SBI schemes, from their monthly disclosures. Changes are counted in shares, so a price move never looks like buying or selling.
Mutual funds Aug 2026
5 added, 2 trimmed — net −1.17 cr shares (−10.3%)
- Funds are sitting on
- +9%
- vs est. average cost
- Held by funds
- ₹2.0k Cr
- 12 schemes · ≈ 7.0% of the company
- Biggest holder
- HDFC Flexi Cap Fund
- ₹1.5k Cr · 1.4% of that fund
- Longest holder
- Nippon India Nifty Smallcap 250 Index Fund
- 3y 7m · since Feb '23
Shares held by these funds +21369%
Aug '23 10.19 cr shares Jul '26
All earnings calls (7)
Read the Q1 FY27 call →Learn to analyse Piramal Pharma Limited
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