Piramal Pharma Ltd logo

Piramal Pharma Ltd

PPLPHARMA NSE

Key Fundamentals

Volatility
High Risk
EBITDA
₹1,135 Cr
Return on Equity
-3.99%
Debt to Equity
0.7
EPS
₹0.3
52W High
₹218.5
52W Low
₹132.3

Insights

Beta

AI-extracted from concalls & annual reports · figures as reported, with sources

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38 extracted metrics + investor summaries across FY21–FY26.

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Tapetide Score

Data-driven rating, 0–100. How it works →

Technical Indicators

Key Insights

Weaknesses

5
  • Stock is trading at 3.37 times its book value
  • Company has low interest coverage ratio.
  • The company has delivered a poor sales growth of 7.03% over past five years.
  • Company has a low return on equity of -0.88% over last 3 years.
  • Company might be capitalizing the interest cost

Growth Rate

Revenue Growth
-2.19% ↗
Net Income Growth
-457.74% ↗
Cash Flow Change
85.21% ↗
ROE
-456.25% ↘
ROCE
-82.19% ↘
EBITDA Margin (Avg.)
-26.51% ↘

AI Analysis — Bull vs Bear

Anthropic anthropic claude-opus-4.6 12d ago
AI opinion · based on fundamentals
Risk high

Piramal Pharma Ltd is a ₹26,714 crore market-cap global pharmaceutical company that reported FY26 revenue of ₹8,869 crore (down 3% YoY) and a net loss of ₹326 crore after a ₹196 crore exceptional impairment charge. The stock trades at a negative PE of -84.3x and 3.24x book value, with net debt-to-EBITDA at 3.6x, while Q1 FY27 showed early signs of recovery with 17% revenue growth and EBITDA margin expansion of ~400 bps to 12.5%.

Bull Case 8
  • Q1 FY27 revenue grew 17% YoY to ₹2,270 crore, indicating a sharp turnaround from the 3% revenue decline in FY26
  • Q1 FY27 EBITDA surged 72% YoY with margins expanding ~400 bps to 12.5%, demonstrating improving operating leverage
  • CDMO business delivered 19% YoY revenue growth in Q1 FY27 with broad-based demand recovery and increased RFP activity
  • Piramal Consumer Healthcare (PCH) segment grew 17% YoY in FY26 to ₹1,274 crore, providing diversification away from CDMO cyclicality
  • Global scale with 17 manufacturing facilities and commercial presence in over 100 countries provides structural competitive advantage in CDMO
  • Management guided for early-to-mid-teens revenue growth in FY27, suggesting confidence in demand recovery
  • Stock has delivered a 3-year CAGR of 25%, reflecting market recognition of long-term platform value
  • Q4 FY26 PAT before exceptional items was ₹167 crore (up 9% YoY), showing underlying profitability when stripping out one-off charges
Bear Case 8
  • FY26 consolidated net loss of ₹326 crore versus a profit of ₹91 crore in FY25, driven by ₹196 crore impairment and operational weakness
  • FY26 EBITDA declined 28% YoY to ₹1,135 crore with margin compressing from 17% to 13%
  • Net debt-to-EBITDA stands elevated at 3.6x, indicating significant leverage amid declining earnings
  • CDMO revenue fell 10% YoY in FY26 to ₹4,915 crore due to customer inventory destocking, exposing concentration risk
  • 3-year average ROE is negative at -1%, and last year ROE was -4%, indicating persistent inability to generate adequate shareholder returns
  • Stock trades at 3.24x book value despite negative earnings, implying valuation is priced for a recovery that has yet to materialize at the annual level
  • 5-year compounded sales growth of only 7% reflects structurally modest top-line expansion relative to the premium valuation
  • Company may be capitalizing interest costs, which could be masking the true extent of operating losses and inflating reported asset values

This is AI-generated analysis, not financial advice. Do your own due diligence.

AI News Digest

Anthropic anthropic claude-opus-4.6 2d ago
Headwinds 4
  • Consolidated net loss widens Jul 29

    Q1FY27 consolidated net loss widened to ₹69.39 crore as revenue growth was offset by higher costs, despite standalone profit remaining flat at ₹113.48 crore.

  • HDFC MF cuts stake 2% Jul 18

    HDFC Mutual Fund reduced its holding by 2.005% to 7.015% through open market sales on July 14, 2026, signaling institutional profit-taking.

  • FY27 guidance revision possible Jul 30

    Management signaled it may revise FY27 performance guidance in Q2, suggesting the company is reassessing its financial trajectory without disclosing specifics.

  • Ahmedabad ops halted by floods Jul 24

    Heavy rainfall temporarily suspended operations at Ahmedabad facilities, though the sites contribute less than 3% of consolidated revenues. Operations restarted by Aug 3.

Positives 3
  • FY27 CAPEX guidance reaffirmed Jul 31

    Piramal reaffirmed annual CapEx of $120–135 million with Lexington project on track for completion by end of calendar year 2027, signaling continued growth investment.

  • 25% EBITDA margin target by FY30 Jul 30

    Management reiterated its long-term target of 25% EBITDA margin across all businesses by FY30, reflecting sustained focus on profitability improvement.

  • Strong institutional block trade activity Aug 5

    Multiple block trades totaling ~₹176 crore occurred between Jul 27–Aug 5 at prices ranging from ₹191–205 per share, indicating significant institutional interest.

Neutral 3
  • AGM resolutions passed Jul 30

    Shareholders approved re-appointment of key directors and authorized non-convertible debenture issuance at the 6th AGM held July 30, 2026.

  • 56.3 lakh ESOPs granted Jul 29

    Nomination and Remuneration Committee approved 56,36,436 stock options under the 2022 plan at ₹10 exercise price with varied vesting schedules.

  • Q1FY27 earnings call held Jul 30

    Conference call for Q1 FY2027 unaudited results was held on July 30, 2026; audio recording is now available on the company website.

TL;DR: Piramal Pharma is investing heavily for long-term growth with $120–135M CapEx and a clear 25% EBITDA margin target by FY30, but near-term profitability remains under pressure with a widening consolidated loss in Q1FY27. Institutional activity is mixed — large block trades show interest but HDFC MF's stake reduction and a potential guidance revision flag caution. The trend is stable with a long-term improvement narrative, but Q2 guidance clarity will be the next key catalyst.

Quarterly Results

  Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales
1,749
1,911
1,959
2,552
1,951
2,242
2,204
2,754
1,934
2,044
2,140
2,752
2,270
Expenses
1,617
1,646
1,690
2,022
1,747
1,900
1,866
2,193
1,827
1,885
1,944
2,291
2,075
Operating Profit
132
266
268
530
204
342
338
561
107
159
196
461
195
OPM %
8%
14%
14%
21%
10%
15%
15%
20%
6%
8%
9%
17%
9%
Other Income
53
68
43
8
42
78
29
58
98
80
12
-116
109
Interest
119
110
106
114
107
108
103
104
86
82
89
83
88
Depreciation
174
185
186
196
185
192
197
243
197
203
213
218
224
PBT
-107
40
19
227
-45
120
67
273
-79
-46
-94
43
-7
Tax %
-8%
87%
48%
55%
97%
81%
94%
44%
3%
115%
45%
121%
830%
Net Profit
-99
5
10
101
-89
23
4
154
-82
-99
-136
-9
-69
EPS in Rs
-0.75
0.04
0.08
0.77
-0.67
0.17
0.03
1.16
-0.61
-0.75
-1.02
-0.07
-0.52
Figures in ₹ Crores

Profit & Loss

  Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales
6,315
6,559
7,082
8,171
9,151
8,869
9,205
Expenses
4,887
5,609
6,453
6,974
7,706
7,947
8,195
Operating Profit
1,428
950
629
1,197
1,445
922
1,010
OPM %
23%
14%
9%
15%
16%
10%
11%
Other Income
230
319
272
172
208
74
86
Interest
163
198
344
448
422
341
343
Depreciation
545
586
677
741
816
831
858
PBT
949
485
-120
179
415
-176
-104
Tax %
12%
22%
55%
90%
78%
85%
—
Net Profit
835
376
-186
18
91
-326
-314
EPS in Rs
—
—
-1.41
0.13
0.69
-2.45
-2.36
Div. Payout %
0%
18%
0%
82%
20%
0%
—
Figures in ₹ Crores

Balance Sheet

  Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital
995
1,186
1,193
1,323
1,324
1,327
Reserves
4,610
5,511
5,580
6,588
6,801
6,835
Borrowings
3,025
4,128
5,637
4,710
4,856
5,675
Other Liabilities
2,047
1,781
1,893
2,461
2,447
3,770
Total Liabilities
10,677
12,605
14,303
15,083
15,429
17,607
Fixed Assets
6,105
6,879
7,469
7,990
8,133
8,684
CWIP
627
1,172
1,419
1,116
977
1,100
Investments
123
267
639
385
291
437
Other Assets
3,822
4,286
4,777
5,592
6,028
7,386
Total Assets
10,677
12,605
14,303
15,083
15,429
17,607
Figures in ₹ Crores

Cash Flow

  Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating
598
766
484
1,005
892
1,653
Investing
-4,464
-1,737
-1,334
-416
-488
-820
Financing
3,977
794
818
-422
-441
-39
Net Cash Flow
110
-177
-32
166
-37
794
Free Cash Flow
-5
-91
-461
294
233
776
CFO/OP
52
98
107
97
85
202
Figures in ₹ Crores

Ratios

  Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 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
ROCE %
—
7%
2%
5%
6%
3%

Shareholding Pattern

As of Jun 2026
Public 37.62%
Promoters 34.80%
DIIs 14.57%
FIIs 12.51%
Others 0.48%
Total 99.98%
  Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Promoters
35.02%
35.02%
35.02%
34.94%
34.94%
34.94%
34.94%
34.85%
34.85%
34.85%
34.85%
34.80%
FIIs
32.37%
32.51%
30.58%
31.41%
31.73%
31.68%
31.49%
30.86%
30.27%
29.66%
30.17%
12.51%
DIIs
8.01%
9.68%
12.12%
12.95%
13.80%
14.09%
14.78%
14.25%
14.89%
15.68%
15.61%
14.57%
Public
24.21%
22.41%
21.89%
20.20%
19.06%
18.85%
18.42%
19.46%
19.46%
19.35%
19.01%
37.62%
Others
0.38%
0.38%
0.37%
0.47%
0.45%
0.40%
0.34%
0.57%
0.51%
0.44%
0.34%
0.48%
No. of Shareholders
3,00,606
2,92,312
2,97,996
3,06,398
3,59,751
4,18,442
4,32,843
4,58,430
4,62,511
4,53,830
4,50,661
4,61,096

Documents

Frequently Asked Questions about Piramal Pharma Ltd

What does Piramal Pharma Ltd do?
Piramal Pharma Limited (PPL) is part of the Piramal group of companies. The company operates through 3 major segments (1) Contract development and manufacturing organisations (CDMO), (2) Complex hospital generics (critical care), and (3) consumer healthcare (OTC). Company entered Pharma space bac...
Where is Piramal Pharma Ltd (PPLPHARMA) listed?
Piramal Pharma Ltd is listed on the Indian stock exchanges. It is listed on NSE: PPLPHARMA and BSE: 543635. You can view its live share price, financials, and ratios on Tapetide.
Which sector does Piramal Pharma Ltd belong to?
Piramal Pharma Ltd operates in the Healthcare sector within the Pharmaceuticals industry. Sector classification helps investors compare companies affected by similar economic conditions and regulatory changes.
What is the 52-week high and low of Piramal Pharma Ltd?
Over the past 52 weeks, Piramal Pharma Ltd has traded between a low of ₹132.3 and a high of ₹218.5. This range helps investors understand the stock's price volatility and recent trading levels.
What is the Return on Equity (ROE) of Piramal Pharma Ltd?
Piramal Pharma Ltd has a Return on Equity (ROE) of -3.99%. ROE measures how effectively a company uses shareholders' equity to generate profits. A higher ROE generally indicates better capital efficiency.
How can I research Piramal Pharma Ltd on Tapetide?
On Tapetide, you can view Piramal Pharma Ltd's live share price, quarterly results, profit & loss statements, balance sheet, cash flow, key ratios, shareholding pattern, technical indicators, analyst ratings, and forecasts — all on a single page without needing to sign up.

Company Information

Piramal Pharma Limited (PPL) is part of the Piramal group of companies. The company operates through 3 major segments (1) Contract development and manufacturing organisations (CDMO), (2) Complex hospital generics (critical care), and (3) consumer healthcare (OTC). Company entered Pharma space back in 1988 with acquisition of Nicholas Laboratories and grew through a series of Mergers & Acquisitions[1] and various organic initiatives. In 2010 the Domestic formulations business was sold to Abott for $3.7 billion[2] and Diagnostic Services was sold to Super Religare Laboratories (SRL)[3]

Website piramal.com
Listed 2022-10-19
Face Value ₹ 10
Issued Size 1,32,92,48,130

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