Piramal Pharma Limited (PPLPHARMA)

Healthcare · Pharmaceuticals & Biotechnology · NSE · Updated 29 July 2026

By StockFin Research Team • AI-Assisted Analysis • Source: BSE/NSE Filings

₹195.68 ↓ 4.83% (1Y)

🎯 Key Takeaways

Piramal Pharma Limited is in a strategic turnaround phase, transitioning from financial distress to operational recovery driven by strong execution in its CDMO and specialty segments. The company is leveraging scale, regulatory approvals, and capacity expansion to rebuild profitability after a period of margin compression and inventory corrections.
Revenue declined 1.7% QoQ to ₹2,204 in Q3FY25.
⚠️ Margin sustainability remains contingent on continued execution in high-growth segments and cost discipline amid competitive pricing pressures.

Market Cap

₹23,245

P/E Ratio

582.9

Div Yield

0.00%

Promoter

0.0%

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📖 The Story

Piramal Pharma Limited is in a strategic turnaround phase, transitioning from financial distress to operational recovery driven by strong execution in its CDMO and specialty segments. The company is leveraging scale, regulatory approvals, and capacity expansion to rebuild profitability after a period of margin compression and inventory corrections.

📰 What's Happening

In Q1 FY27, Piramal Pharma delivered robust financial performance with consolidated revenue growing 17% YoY to ₹2,270 crores, driven by growth across CDMO, CHG, and PCH segments. EBITDA surged 72% to ₹285 crores, with margin expanding to 12.5% from 8.5%, reflecting improved operating leverage and execution efficiency. The company secured FDA approval for its Sellersville facility and plans to commence Kenalog® supply in Q2FY27. Management highlighted sustained order inflows in CDMO and profitable growth in Consumer Healthcare, signaling strong commercial momentum.

Source: Stock Announcements

📊 Quarterly Results (₹ Cr)

Metric	Q4FY23	Q1FY24	Q2FY24	Q3FY24	Q4FY24	Q1FY25	Q2FY25	Q3FY25
Revenue	2,164	1,749	1,911	1,959	2,552	1,951	2,242	2,204
Operating Profit	376	171	315	298	526	224	403	350
OPM %	16.2%	7.6%	13.9%	13.7%	20.8%	10.5%	15.2%	15.3%
Net Profit	50	-99	5	10	101	-89	23	4
EPS	₹0.42	₹-0.83	₹0.04	₹0.08	₹0.77	₹-0.67	₹0.17	₹0.03

The company's financial trajectory shows a clear inflection point, with revenue growth accelerating and margins expanding significantly in Q1 FY27 after a period of volatility. While profitability remains volatile due to exceptional items, the underlying operational performance has improved markedly, as evidenced by EBITDA growth outpacing revenue expansion and OPM rising to 12.5%. This suggests that cost discipline and scale benefits from prior investments are now materializing, supporting a recovery in cash generation.

🔮 Management Outlook & What's Next

Management expressed confidence in sustaining revenue growth and EBITDA expansion through FY27, citing strategic investments, capacity additions, and continued leadership in key markets. While forward guidance was not formally provided in the latest filing, the tone was optimistic, with emphasis on profitable growth in Consumer Healthcare and sustained momentum in CDMO. The company is focused on executing its growth strategy without providing specific numerical targets in the current disclosure.

Extracted from official company announcements. Not StockFin.ai's opinion.

⚖️ Peer Comparison — Pharmaceuticals & Biotechnology

Company	MCap (₹ Cr)	P/E	ROCE	ROE	D/E
Sun Pharmaceutical Industries Limited	4.51 L Cr	41.3	20.3%	15.1%	0.03
Divi's Laboratories Limited	1.79 L Cr	72.4	22.1%	16.6%	0.00
Torrent Pharmaceuticals Limited	1.49 L Cr	80.1	—	—	—
Cipla Limited	1.16 L Cr	25.4	19.4%	14.6%	0.00
Dr. Reddy's Laboratories Limited	1.12 L Cr	20.0	19.7%	16.6%	0.12
Lupin Limited	1.04 L Cr	36.2	—	—	—
Mankind Pharma Limited	1.03 L Cr	49.2	—	—	—
Zydus Lifesciences Limited	1.02 L Cr	22.5	—	—	—
Aurobindo Pharma Limited	87,806	25.3	—	—	—
Laurus Labs Limited	71,455	356.8	—	—	—

🔗 Peer Stock Analyses

SUNPHARMA DIVISLAB TORNTPHARM CIPLA DRREDDY

⚠️ Risk Factors

1. Margin sustainability remains contingent on continued execution in high-growth segments and cost discipline amid competitive pricing pressures. 2. The company remains vulnerable to macroeconomic headwinds affecting healthcare spending and foreign exchange volatility, particularly given its US market exposure. 3. Past financial performance was impacted by CDMO inventory destocking and softer inhalation sales, indicating that demand normalization is still a work in progress. 4. Profitability is volatile due to exceptional items, making underlying earnings quality harder to assess on a standalone basis.

📋 Recent Filings

🧠 Analyst's Read

Piramal Pharma is showing clear signs of operational recovery, with revenue and margin expansion signaling successful execution of its turnaround strategy. Investors should monitor upcoming capacity additions, Kenalog® launch, and sustained CDMO order flow to confirm the durability of this momentum. The company's ability to convert growth into consistent profitability will be the key catalyst to watch in the coming quarters.

Based on filing content and financial data. Not a recommendation.

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Data sourced from stock announcements. Analysis generated by StockFin.ai.
For informational purposes only — not investment advice. Updated 2026-07-29.

Editorial & Data Transparency Notice

This analysis was programmatically compiled using StockFin AI utilizing official regulatory disclosures from the BSE and NSE. Content is automatically synthesized and audited against public financial filings. StockFin.ai is an educational research platform and is NOT a SEBI-registered investment advisor or research analyst.

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