Piramal Pharma results for the quarter ended September 30, 2026, showed a return to net profit and 28% revenue growth. The company also raised its full-year revenue growth outlook to 19%–20% after a stronger first half.
Key Takeaways
- Quarterly net profit was ₹5 crore, compared with a ₹99 crore loss a year earlier.
- First-half revenue rose 23%, with growth across all three businesses.
- The company expects 19%–20% revenue growth for FY27, alongside higher profitability.
Piramal Pharma results: quarterly profit returns
Consolidated revenue from operations rose to ₹2,617 crore in the second quarter of FY27 from ₹2,044 crore a year earlier. EBITDA increased 72% to ₹385 crore, and the EBITDA margin rose to 14.7% from 11.0%.
For the first half, revenue reached ₹4,887 crore, up from ₹3,977 crore. EBITDA rose to ₹669 crore from ₹389 crore, while the net loss after exceptional items narrowed to ₹64 crore from ₹181 crore.
| Item | Details |
|---|---|
| Contract development and manufacturing | H1 FY27 revenue of ₹2,611 crore, up 28% year on year |
| Complex hospital generics | H1 FY27 revenue of ₹1,592 crore, up 24% year on year |
| Consumer healthcare | H1 FY27 revenue of ₹706 crore, up 14% year on year |
Growth across the three businesses
The contract development and manufacturing business led first-half growth. Chairperson Nandini Piramal attributed its performance to strong order inflows and execution. The company said it added 22 customers during the half and that its Phase III pipeline increased to 28 molecules from 25 in March 2026.
Piramal said higher capacity utilization, operating leverage, disciplined execution and cost optimization supported the improvement in profitability. The company also cited sales of inhalation anesthesia products outside the United States and the integration of Kenalog as support for its complex hospital generics business.
Full-year outlook and distribution agreement
Piramal raised its FY27 outlook to revenue growth of 19%–20%, with meaningfully higher profitability. The forecast is management guidance, not a reported result.
The company said its distribution agreement with Bayer is due to expire in December 2026. The transition is being jointly managed, and Piramal does not expect it to have a material impact on FY27 guidance.
Next milestone
Piramal scheduled an investor and analyst call to discuss the results on October 28, 2026.
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