Global pharma, health and wellness company spanning CDMO, complex hospital generics, and OTC consumer healthcare.
Reported
Each figure keeps its basis and period; nothing is filled in.
| Metric | Value | Change | Basis | Period | Note |
|---|---|---|---|---|---|
| Revenue | 2,270 | +17.4% YoY | Quarterly, as filed | Quarter to Jun 2026 | Revenue from operations as filed. |
| Operating margin | 9.0 | +3.0 pts YoY | Operating profit / revenue | Quarter to Jun 2026 | For the quarter; a change is in percentage points. |
| Net profit | -69.0 | Quarterly, as filed | Quarter to Jun 2026 | Profit after tax as filed. The year-earlier figure was zero or a loss, so no percentage is shown. | |
| Return on equity | -2.06 | −4.9 pts | Trailing twelve months | TTM to Jun 2026 | Adjusted profit attributable to owners ÷ average owners’ equity. |
| Free cash flow margin | 8.75 | +6.2 pts | Fiscal year | FY ending Mar 2026 | (Operating cash flow − fixed-asset purchases + disposals) ÷ revenue. |
| Revenue growth (YoY) | 0.79 | −15.1 pts | Trailing twelve months | TTM to Jun 2026 | Revenue change against the same period one year earlier. |
Guidance
2 of 5 judged targets kept · 14 open · verdicts reflect calls analysed to Q1 FY27.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| Consolidated Revenue Growth | mid-single-digit consolidated revenue for FY26 | Q4 FY25 | This promise for a past fiscal year was not mentioned. | Missed |
| Consolidated Revenue Growth | mid- to high-teen revenue growth in FY27 | Q4 FY25 | 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. | Revised Up |
| Total Revenue | $2 billion revenue by FY30 | Q2 FY25 | The FY30 revenue target was not explicitly mentioned, but the corresponding FY30 EBITDA margin target was reiterated, suggesting the long-term plan remains intact. | On Track |
3 of Piramal Pharma Limited's 19 targets were missed. See which ones, and which are quietly gone. The 3 above are the free sample; 16 more targets are in the full ledger.
Claimed
Qualified
Price
1Y: ₹202.37 on 24 Oct 2025 → ₹195.17. High ₹226.62 (8 Sept 2026), low ₹133.27 (23 Mar 2026).
Overview
Based on the company's own presentations, annual report and earnings calls.
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
close before → close after
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.
Guidance
2 of 5 judged targets kept · 14 open · verdicts reflect calls analysed to Q1 FY27.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| Consolidated Revenue Growth | mid-single-digit consolidated revenue for FY26 | Q4 FY25 | This promise for a past fiscal year was not mentioned. | Missed |
| Consolidated Revenue Growth | mid- to high-teen revenue growth in FY27 | Q4 FY25 | 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. | Revised Up |
| Total Revenue | $2 billion revenue by FY30 | Q2 FY25 | The FY30 revenue target was not explicitly mentioned, but the corresponding FY30 EBITDA margin target was reiterated, suggesting the long-term plan remains intact. | On Track |
Claimed
Qualified
The full ledger
A free account opens 5 company ledgers a month. All 19 tracked commitments, with each call’s wording and source.
Call summaries
Piramal Pharma Limited Q1 FY27
Piramal Pharma Limited reported a strong Q1 FY27, with all three businesses contributing to mid-to-high teen revenue growth. This led to significant EBITDA expansion and margin improvement. The company highlighted robust CDMO growth, resilient performance in hospital generics, and strong momentum in consumer healthcare, while also making progress on strategic investments and maintaining a strong compliance record.
Read the full callPiramal Pharma Q4 FY26
Piramal Pharma navigated a transitional FY26, experiencing a year-on-year decline in reported revenues and EBITDA due to external headwinds and inventory de-stocking, alongside a significant intangible write-down. However, the underlying business showed modest growth, driven by strong H2 CDMO order inflows, the Kenalog acquisition, and robust consumer healthcare performance. The company anticipates a return to healthy early-to-mid-teen revenue growth in FY27, with EBITDA and PAT growing faster, despite an elevated debt-to-EBITDA ratio and projected continued quarterly volatility in CDMO.
Read the full callPiramal Pharma Q3 FY26
Piramal Pharma reported a muted Q3 FY26, characterized by a slight revenue decline due to inventory destocking by a major customer and regulatory delays at the Digwal facility. Despite these headwinds, management highlighted a significant recovery in CDMO RFPs and order inflows since October 2025, driven by improved US biopharma funding. The strategic acquisition of Kenalog is expected to bolster the Complex Hospital Generics portfolio with high-margin, low-competition revenue.
Read the full callEvery analysed call
Fundamentals
Current values with the period they cover; the trend reads across the 6 fiscal years held (Mar 2021 to Mar 2026).
Financials
Net profit, year on year: +16% (quarter to jun 2026 against jun 2025).
| Line item | Sept 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sept 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Sales | 2,242 | 2,204 | 2,754 | 1,934 | 2,044 | 2,140 | 2,752 | 2,270 |
| Expenses | 1,900 | 1,866 | 2,193 | 1,827 | 1,885 | 1,944 | 2,291 | 2,075 |
| Operating profit | 342 | 338 | 561 | 107 | 159 | 196 | 461 | 195 |
| Operating margin | 15.0% | 15.0% | 20.0% | 6.0% | 8.0% | 9.0% | 17.0% | 9.0% |
| Other income | 78 | 29 | 58 | 98 | 80 | 12 | -116 | 109 |
| Interest | 108 | 103 | 104 | 86 | 82 | 89 | 83 | 88 |
| Depreciation | 192 | 197 | 243 | 197 | 203 | 213 | 218 | 224 |
| Profit before tax | 120 | 67 | 273 | -79 | -46 | -94 | 43 | -7 |
| Tax rate | 81.0% | 94.0% | 44.0% | 3.0% | 115.0% | 45.0% | 121.0% | 830.0% |
| Net profit | 23 | 4 | 154 | -82 | -99 | -136 | -9 | -69 |
| EPS (₹ per share) | 0.17 | 0.03 | 1.16 | -0.61 | -0.75 | -1.02 | -0.07 | -0.52 |
| Line item | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| Sales | 7,082 | 8,171 | 9,151 | 8,870 |
| Expenses | 6,453 | 6,975 | 7,706 | 7,947 |
| Operating profit | 628 | 1,196 | 1,445 | 923 |
| Other income | 272 | 172 | 207 | 74 |
| Interest | 344 | 449 | 422 | 340 |
| Depreciation | 676 | 741 | 817 | 831 |
| Profit before tax | -120 | 179 | 415 | -176 |
| Net profit | -186 | 17 | 92 | -326 |
| Line item | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sept 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Equity capital | 1,186 | 1,193 | 1,323 | 1,324 | 1,326 | 1,327 |
| Reserves | 5,511 | 5,580 | 6,588 | 6,801 | 6,748 | 6,835 |
| Borrowings | 4,128 | 5,637 | 4,710 | 4,856 | 4,851 | 5,675 |
| Other liabilities | 1,781 | 1,893 | 2,461 | 2,447 | 3,265 | 3,770 |
| Total liabilities | 12,605 | 14,303 | 15,083 | 15,429 | 16,189 | 17,607 |
| Fixed assets | 6,879 | 7,469 | 7,990 | 8,133 | 8,827 | 8,684 |
| Capital work in progress | 1,172 | 1,419 | 1,116 | 977 | 567 | 1,100 |
| Investments | 267 | 639 | 385 | 291 | 442 | 437 |
| Other assets | 4,286 | 4,777 | 5,592 | 6,028 | 6,353 | 7,386 |
| Total assets | 12,605 | 14,303 | 15,083 | 15,429 | 16,189 | 17,607 |
| Line item | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Debtor days | 91 | 99 | 93 | 95 | 94 | 89 |
| Inventory days | 218 | 207 | 227 | 269 | 261 | 345 |
| Days payable | 163 | 153 | 161 | 190 | 173 | 279 |
| Cash conversion cycle | 147 | 153 | 159 | 174 | 182 | 155 |
| Working capital days | 44 | 36 | 13 | 21 | 60 | 44 |
| Return on capital employed | — | 7.0% | 2.0% | 5.0% | 6.0% | 3.0% |
| Dividend payout | 0.0% | 18.0% | 0.0% | 82.0% | 20.0% | 0.0% |
Ownership
Public hold 36.72% as of Sept 2026; institutions added 1.00 pts since Jun 2026.
since Jun 2026
Disclosed holders that added to a position or appeared on the register for the first time, biggest addition first.
The same filing shows 1 holder trimming and 1 off the list — both are in the register beside this.
Named in the Sep 2026 filing
Every holder of Piramal Pharma Limited above SEBI's 1% disclosure line, and what changed since Jun 2026.
| Holder | Stake | Change |
|---|---|---|
| 26.51% | unchanged | |
| 17.93% | unchanged | |
| Mutual fund | 5.65% | −2.03 pp |
| 3.23% | unchanged | |
| 2.99% | unchanged | |
| FPI fund | 2.00% | unchanged |
| Mutual fund | 1.56% | newly disclosed |
| 1.30% | unchanged | |
| 0.79% | unchanged | |
| 0.67% | newly disclosed | |
| 0.33% | unchanged | |
| 0.07% | 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.
Filings to Sep 2026
0 new, 1 added, 6 trimmed, 0 sold out — net −46.53 L shares (−4.6%).
| Scheme | Holding | Last month | Held since |
|---|---|---|---|
| HDFC Flexi Cap Fund HDFC Mutual Fund | ₹1.5k Cr | −46.01 L | Dec '23 |
| Nippon India Pharma Fund Nippon India Mutual Fund | ₹205 Cr | held | Jun '26 |
| Nippon India Small Cap Fund Nippon India Mutual Fund | ₹103 Cr | held | Jul '26 |
| Nippon India Value Fund Nippon India Mutual Fund | ₹57 Cr | held | Jun '26 |
| HDFC Manufacturing Fund HDFC Mutual Fund | ₹50 Cr | held | Oct '24 |
| Nippon India Nifty Pharma ETF Nippon India Mutual Fund | ₹23 Cr | +0.12 L | Sep '25 |
| Nippon India Retirement Fund - Wealth Creation Scheme Nippon India Mutual Fund | ₹20 Cr | held | Jul '26 |
| Nippon India Nifty Smallcap 250 Index Fund Nippon India Mutual Fund | ₹20 Cr | −0.31 L | Feb '23 |
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 Sep 2026
1 added, 6 trimmed — net −46.53 L shares (−4.6%)
Shares held by these funds +17677%
Oct '23 9.55 cr shares Sep '26
Your own record
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