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Piramal Pharma
Piramal Pharma (PPLPHARMA) investor relations material
Piramal Pharma Q3 25/26 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 25/26 earnings summary29 Jan, 2026
Executive summary
FY26 was challenging due to inventory destocking in a major on-patent product, slow early-stage CDMO order inflows from weak US biopharma funding, and regulatory delays in ex-US inhalation anesthesia launches.
Early signs of recovery are visible with increased RFPs and order inflows since October 2025, supported by improved US biopharma funding and M&A activity.
Unaudited standalone and consolidated financial results for the quarter and nine months ended December 31, 2025, were approved and reviewed by the Board and auditors, with results published as per regulatory requirements.
Acquisition of Kenalog, a complex injectable, from Bristol Myers Squibb for $35M upfront and up to $65M in milestones, broadens the CHG portfolio and is expected to deliver strong EBITDA margins.
Financial highlights
Q3 FY26 consolidated revenue was ₹2,139.87 crore (or $2,140M), and nine-month revenue was ₹6,117.31 crore, reflecting a 3%-4% year-over-year decline.
Q3 FY26 consolidated EBITDA was ₹239 crore (margin 11%), down 32% YoY; nine-month EBITDA was ₹628 crore (margin 10%), down 36% YoY.
Standalone net profit for Q3 FY26 was ₹128.91 crore, up from ₹118.80 crore in Q3 FY25; consolidated net loss for Q3 FY26 was ₹136.19 crore.
BCH (consumer healthcare) sales grew 20% in Q3 and 16% over nine months, with power brands up 30% in Q3.
E-commerce contributed 26% to BCH sales, growing over 50% in nine months.
Outlook and guidance
FY26 guidance remains unchanged but is acknowledged as a stretch; management is committed to meeting it.
Q4 is expected to be sequentially stronger, though not matching last year's Q4 due to a large one-time order then.
Long-term CDMO sales target of $1B+ in 3-4 years and 2030 projections are reaffirmed.
CapEx is planned at $70M-$100M annually, higher in the near term due to Lexington and Riverview expansions.
The company continues to monitor regulatory changes and expects to account for further impacts from new labour codes as clarifications emerge.
Detail US CDMO onshoring drivers and RFP trends.
Kenalog: How does it drive CHG portfolio expansion?
Digwal RoW market strategy and ramp-up timeline?
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Next Piramal Pharma earnings date
Q4 25/2614 May, 2026
Piramal Pharma
Next Piramal Pharma earnings date
Q4 25/2614 May, 2026
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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.
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