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Edge16 Oct 2026
Winner, Winner: The Chicken McNugget Story
How a 1940s breeding contest, a Cornell food scientist, and a hedge by Ray Dalio helped McDonald's turn the Chicken McNugget into a fast-food icon.
Piramal Pharma
Piramal Pharma (PPLPHARMA) investor relations material
Piramal Pharma Q2 26/27 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q2 26/27 earnings summary28 Oct, 2026
Executive summary
Q2 FY27 revenue rose 28% YoY to ₹2,617 crore and EBITDA rose 72% to ₹385 crore; H1 revenue grew 23% to ₹4,887 crore and EBITDA 72% to ₹669 crore.
H1 EBITDA margin expanded to 13.7% from 9.8%; broad-based growth, improved capacity utilization and operating leverage supported profitability.
FY27 revenue growth outlook was raised to 19%–20%, with H2 expected to outperform H1 and meaningfully higher profitability anticipated.
Financial highlights
Consolidated Q2 total income was ₹2,653 crore, up 26% YoY; H1 total income was ₹5,012 crore, up 22%.
Consolidated Q2 net profit was ₹5.03 crore versus a ₹99.22 crore loss; H1 net loss narrowed to ₹64.35 crore from ₹180.92 crore.
Standalone Q2 revenue was ₹1,345.38 crore and net profit ₹170.74 crore; H1 revenue was ₹2,470.33 crore and net profit ₹284.22 crore.
H1 consolidated operating cash flow was ₹390.91 crore, compared with ₹889.76 crore in H1 FY25.
Outlook and guidance
FY27 revenue growth guidance increased from early-to-mid teens to 19%–20%; H2 is expected to be stronger than H1.
CDMO growth momentum is expected to continue, supported by order inflows, customer engagement and H2 seasonality.
Complex Hospital Generics growth is expected to benefit from ROW expansion and Kenalog; Consumer Healthcare from power brands, e-commerce, premiumization and channel expansion.
ADC and differentiated services are expected to outgrow overall revenue; innovation and on-patent commercial work are expected to exceed 50% of business in the next couple of years.
Consumer Healthcare is expected to approach its double-digit profitability target by FY30, with further margin improvement dependent on sustained revenue growth.
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Latest events from Piramal Pharma
- Pharma-led revenue growth accompanied lower profit and major portfolio expansion.PPLPHARMA
Q4 21/22 - A newly transferred pharma business generated ₹6,314.90 crore in consolidated net sales.PPLPHARMAQ4 20/21
- Revenue grew, but inflation, lower EBITDA and higher finance costs drove a net loss.PPLPHARMAQ4 22/23
- FY2024 growth and margin recovery were led by CDMO, with leverage improving below 3x.PPLPHARMAQ4 23/24
- Q1 FY27 delivered 17% revenue growth, margin expansion, and improved consolidated net loss.PPLPHARMAQ1 26/27
- FY26 revenue declined, but H2 momentum and acquisitions support FY27 growth outlook.PPLPHARMAQ4 25/26
- Revenue and EBITDA declined YoY, but Consumer Healthcare and cash flow improved.PPLPHARMAQ2 25/26
- Q2 FY25 revenue up 17% with margin expansion and profitability, led by CDMO and ICH growth.PPLPHARMAQ2 24/25
- Q1 FY25 revenue up 12% YoY, EBITDA up 31%, margin at 11%, but consolidated net loss posted.PPLPHARMAQ1 24/25
Next Piramal Pharma earnings date
Q3 26/2728 Jan, 2027
Piramal Pharma
Next Piramal Pharma earnings date
Q3 26/2728 Jan, 2027
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Frequently asked questions
Piramal Pharma Limited is an India-based pharmaceutical company engaged in the development, manufacturing, and distribution of pharmaceutical products and services. The company operates through three main segments: Contract Development and Manufacturing (CDMO), Complex Hospital Generics, and Consumer Healthcare. It serves global pharmaceutical and biotechnology companies with services including drug development, active pharmaceutical ingredient (API) production, and sterile manufacturing. Piramal Pharma also markets over-the-counter products and hospital-use medications. The company is headquartered in Mumbai, India, and its shares are listed on the NSE.