Piramal Pharma Ltd logo

Piramal Pharma Ltd

PPLPHARMA NSE

Key Fundamentals

SmallcapPharmaceuticalsHealthcare
Market Cap
₹27,857 Cr
Volatility
Moderate
P/E Ratio
-86.8
EBITDA
₹1,135 Cr
Return on Equity
-3.99%
Debt to Equity
0.7
Book Value
₹61.34
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 3.33 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 17h ago
AI opinion · based on fundamentals
Risk high

Piramal Pharma Ltd is a ₹27,459 Cr market-cap diversified pharma company that reported FY26 revenue of ₹8,869 Cr (down 3% YoY) and a net loss of ₹326 Cr after a ₹196 Cr exceptional impairment charge. The company trades at 3.36x book value with negative ROE of -4% last year, while its Consumer Healthcare segment grew 17% YoY and management guides for early-to-mid-teens revenue growth in FY27.

Bull Case 8
  • Consumer Healthcare (PCH) segment grew 17% YoY in FY26 to ₹1,274 Cr, emerging as the fastest-growing vertical and now contributing 14% of revenue
  • Q4 FY26 PAT before exceptional items was ₹167 Cr (up 9% YoY), indicating improving underlying profitability trajectory exiting the year
  • Stock has delivered a 3-year CAGR of 28%, reflecting market confidence in the long-term CDMO platform buildout
  • Management has completed ~$200 million in capex over FY25-26, building capabilities in sterile injectables, ADCs, and peptides — capacity now available for monetization
  • Diversified global presence across 17 manufacturing facilities and 100+ countries, with 66% revenue from regulated markets providing quality credibility
  • Complex Hospital Generics (CHG) segment grew 7% YoY in Q4 FY26 to ₹755 Cr, demonstrating steady demand for specialty products
  • Net debt-to-EBITDA was 2.6x in Q1 FY26, and management is guiding for early-to-mid-teens revenue growth in FY27 as capex cycle winds down
  • E-commerce contributes 24% to Consumer Healthcare sales, providing a structural digital distribution advantage in the Indian OTC market
Bear Case 8
  • FY26 consolidated revenue declined 3% YoY to ₹8,869 Cr, with the core CDMO segment contracting 10% YoY to ₹4,915 Cr due to customer inventory destocking
  • FY26 EBITDA fell 28% YoY to ₹1,135 Cr with margins compressing from 17% to 13%, signaling significant operating deleverage
  • Reported a net loss of ₹326 Cr in FY26 (vs profit of ₹91 Cr in FY25), with TTM profit growth at -296%
  • 3-year average ROE is negative at -1%, and last year ROE was -4%, indicating persistent inability to generate returns on equity
  • Net debt-to-EBITDA elevated at 3.6x as of FY26 end amid heavy capex, with low interest coverage ratio raising debt servicing concerns
  • 5-year compounded sales growth of only 7% is below pharma sector averages, reflecting sluggish top-line momentum
  • Stock trades at 3.36x book value despite negative earnings, implying the market is pricing in a turnaround that has yet to materialize in reported numbers
  • ₹196 Cr in exceptional impairment charges in FY26 (including ₹176 Cr on intangible assets under development) raises questions about capital allocation discipline

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

AI News Digest

Anthropic anthropic claude-opus-4.6 17h ago
Headwinds 3
  • 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.

  • Ahmedabad ops halted by floods Jul 24

    Operations at Ahmedabad facilities were temporarily suspended due to heavy rainfall and flooding. Sites contribute less than 3% of consolidated revenues; operations resumed by Aug 3.

  • May revise FY27 guidance in Q2 Jul 30

    Management signaled it may consider revising FY27 performance guidance during Q2, suggesting uncertainty around its financial trajectory for the year.

Positives 4
  • FY27 CAPEX guidance reaffirmed Jul 31

    Reaffirmed annual CapEx guidance of $120-135 million with Lexington project on track for completion by end of CY2027. CDMO and Complex Hospital Generics full-year guidance unchanged.

  • 25% EBITDA margin target by FY30 Jul 30

    Management reiterated its target of achieving 25% EBITDA margin across all businesses by FY30 as a key long-term strategic objective.

  • Carlyle selldown cancelled Aug 14

    Carlyle's planned stake selldown in Piramal Pharma was cancelled, removing potential near-term supply overhang on the stock.

  • Significant institutional block trades Jul 27

    Multiple block trades totalling over ₹176 crore executed between Jul 27 and Aug 5 at prices ranging from ₹191 to ₹205 per share, indicating sustained institutional interest.

Neutral 4
  • AGM resolutions approved 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 grant of 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 now available on company website.

  • Normalized tax rate 24-25% at scale Jul 31

    Management guided for a normalized effective tax rate of 24-25% at scale, though it will remain elevated in the current fiscal year.

TL;DR: Piramal Pharma is investing heavily for long-term growth with $120-135M annual CapEx and a clear 25% EBITDA margin target by FY30, but near-term profitability is under pressure with a widening consolidated loss in Q1FY27. The cancellation of Carlyle's selldown removes an overhang, and sustained institutional block trade activity signals confidence at current price levels. The potential revision of FY27 guidance in Q2 introduces near-term uncertainty, making the next quarter's update a 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
Promoters 34.80%
Others 23.57%
DIIs 14.57%
Public 14.54%
FIIs 12.52%
Total 100.00%
  Sep 2022Oct 2022Dec 2022Mar 2023Jun 2023Aug 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Promoters
34.79%
0.00%
34.79%
34.79%
34.79%
35.02%
35.02%
35.02%
35.02%
34.95%
34.95%
34.95%
34.95%
34.86%
34.86%
34.86%
34.86%
34.80%
FIIs
20.00%
0.00%
20.00%
20.00%
20.00%
18.04%
32.37%
32.51%
30.59%
31.42%
31.73%
31.68%
31.49%
30.86%
30.27%
29.66%
30.18%
12.52%
DIIs
4.86%
0.00%
5.28%
4.99%
5.49%
7.83%
8.02%
9.68%
12.12%
12.95%
13.81%
14.10%
14.78%
14.26%
14.89%
15.69%
15.61%
14.57%
Government
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
Public
7.42%
0.00%
11.80%
13.94%
16.77%
16.81%
16.95%
15.57%
15.13%
13.94%
13.29%
13.29%
13.11%
14.07%
14.12%
14.11%
13.74%
14.54%
Others
32.92%
100.00%
28.14%
26.29%
22.95%
22.30%
7.64%
7.22%
7.14%
6.74%
6.22%
5.98%
5.66%
5.95%
5.86%
5.69%
5.61%
23.57%
No. of Shareholders
1,79,957
1,79,948
2,29,960
2,41,359
2,77,270
2,95,773
2,97,225
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 market capitalisation of Piramal Pharma Ltd?
Piramal Pharma Ltd has a market capitalisation of approximately ₹27857.13 Cr. Based on this, it is classified as a Large Cap stock.
What is the PE ratio of Piramal Pharma Ltd?
The Price-to-Earnings (PE) ratio of Piramal Pharma Ltd is -86.80. The PE ratio compares a company's share price to its earnings per share and is commonly used to assess whether a stock is overvalued or undervalued relative to its peers.
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.
Does Piramal Pharma Ltd pay dividends?
Yes, Piramal Pharma Ltd has a dividend yield of 0.07%. Dividend yield indicates the annual dividend income relative to the share price. A consistent dividend history can signal financial stability.
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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