MUMBAI, India, April 28, 2026 /CNW/ -- Piramal Pharma Limited (NSE: PPLPHARMA | BSE: 543635), a leading global pharmaceutical, health and wellness company, today announced its standalone and consolidated results for the Fourth Quarter (Q4) and Full-year ended 31(st) March 2026.
Consolidated Financial Highlights (in Crores or as stated) Particulars Q4FY26 Q4FY25 YoY % FY26 FY25 YoY % Revenue from Operations 2,752 2,754 (0) % 8,869 9,151 (3) % CDMO 1,708 1,788 (4) % 4,915 5,447 (10) % CHG 755 705 7 % 2,703 2,633 3 % PCH 320 274 17 % 1,274 1,093 17 % EBITDA 507 603 (16) % 1,135 1,580 (28) % EBITDA Margin 18 % 22 % 13 % 17 % PAT Before Expectational Item 167 154 9 % (130) 91 NM Exceptional Item(1) (176) - NM (196) - NM PAT After Expectational Item (9) 154 NM (326) 91 NM
1. During the quarter, the management has recognized an impairment loss of . 176Cr in relation to intangible assets under development. Based on a reassessment incorporating changes in market conditions and updated commercial viability estimates, management concluded that the probable future economic benefits from the asset are no longer expected to be adequate to justify further capital deployment. Accordingly, the carrying amount has been written down in full.
Key Highlights
-- Revenue - Growth was impacted by inventory destocking, slower early-stage
order inflows in H1FY26, and softer traction in inhalation anesthesia
across ex--US markets. Adjusted for inventory destocking, we delivered
YoY growth in Q4 and FY26.
-- EBITDA Margin - Despite lower revenues, impact on EBITDA was partly
offset by our efforts towards cost optimization and operational
excellence.
-- Capex - US$94Mn invested in FY26 across growth and maintenance projects.
Lexington and Riverview expansions on track. Seeing good customer
interest.
-- Net Debt -- No increase over FY25.
Nandini Piramal, Chairperson, Piramal Pharma Limited said, "FY26 was a transitional year, shaped by external disruptions and certain business-specific factors. Despite these challenges, we exited the year on a stronger note, with clear momentum across all our businesses. The meaningful recovery in biopharma funding seen from Sep'25, is translating into good RFP momentum and healthy pick up in order inflows in our CDMO business. In the CHG business, the recently completed Kenalog$(R)$ acquisition alongside ramp up of inhalation anesthesia sales in ex-US markets are expected to be key growth drivers. Our Consumer Healthcare business is also well positioned to sustain its growth momentum with margin improvement driven by Power Brands and rapid growth in e--commerce.
Overall, all three businesses are well positioned to deliver growth in FY27, accompanied by accelerated growth in EBITDA and PAT."
Key Business Highlights
Contract Development and Manufacturing Organization $(CDMO)$:
-- Healthy traction in RFPs and order inflows in H2FY26 driven by stronger
US biopharma funding (up YoY 75% in H2FY26, 30% in FY26) and M&A
activity. (Industry Source)
-- Overseas sites seeing rising demand from shifting customer geographical
preferences and strong growth in differentiated areas such as ADC, HP API,
on--shore injectables and drug product capabilities.
-- US$90Mn Capex on track to scale sterile injectable and payload-linker
capacities at Lexington and Riverview sites.
-- Net Promoter Score of 60 - surpassing industry average. Meaningful
improvement in execution with stronger performance across key operational
matrices, driven by our operational excellence initiatives.
-- 209 customer site audits in FY26 vs. 165 in FY25 -- highest ever.
Reflecting heightened customer engagement, deeper technical interactions,
and the growing complexity of programs we support.
-- Maintained our Best-in-Class Quality Track Record - Successfully closed
38 regulatory inspections, including 3 USFDA inspections in FY26.
Continue to maintain our 'Zero OAI' status.
Complex Hospital Generics (CHG):
-- Completed Kenalog(R) acquisition- Upfront consideration of US$35Mn, and
contingent consideration of up to US$65Mn.- Broadens CHG portfolio, adds
revenues with minimal incremental cost, and expands presence in US,
Europe & Asia Pacific.- Niche brand with complex manufacturing
process. EBITDA margins in line with CHG business.
-- Inhalation Anesthesia (IA) - Continue to maintain leadership with 47%
market share - up from 45% in Mar'24. (Source:- IQVIA)-
Initiated Sevoflurane supplies from lower cost Digwal facility in select
RoW markets. Expect traction to build going ahead.
-- Intrathecal Therapy -- Maintained our #1 Rank in intrathecal Baclofen
segment in the US. (Source:- IQVIA)
-- Injectable Pain Management -- Continue to work with our supplier to
resolve supply constraints.
Piramal Consumer Healthcare $(PCH)$:
-- Power Brands continued growth momentum with 24% YoY growth in FY26,
contributing 52% to PCH sales. Little's, Lacto Calamine, CIR, and i-range
remained primary driver of growth.
-- New Product Launches -- Fewer, high--potential product launches with
better success rates. Launched 31 new products and SKU in FY26. Focus on
premiumization of portfolio.
-- E-commerce sales grew at 48% rate YoY in FY26, contributing about 27% to
PCH sales. Evolve product mix toward premium offerings and high margin
channel (e.g. quick commerce).
-- Invested about 12% of PCH sales on Media and Trade Promotion in FY26.
Optimizing the media mix -- Social Media, Television, Influencers, etc.
Consolidated
Profit and Loss
Statement
(in Crores or as stated)
Particulars Quarterly Full-year
Q4FY26 Q4FY25 YoY % Q3FY26 QoQ % FY26 FY25 YoY %
Revenue from
Operations 2,752 2,754 (0) % 2,140 29 % 8,869 9,151 (3) %
Other Income 46 42 10 % 43 7 % 213 135 58 %
Total Income 2,798 2,796 0 % 2,183 28 % 9,082 9,286 (2) %
Material Cost 1,056 955 11 % 786 34 % 3,239 3,232 0 %
Employee Expenses 586 612 (4) % 600 (2) % 2,416 2,307 5 %
Other Expenses 650 626 4 % 558 16 % 2,293 2,167 6 %
EBITDA 507 603 (16) % 239 112 % 1,135 1,580 (28) %
Interest Expenses 83 104 (20) % 89 (7) % 341 422 (19) %
Depreciation 218 243 (10) % 213 3 % 831 816 2 %
Share of Net
Profit of
Associates 14 16 (16) % 10 32 % 57 73 (22) %
Profit Before Tax 219 273 (20) % (53) NM 20 415 (95) %
Tax 52 119 (57) % 42 22 % 150 324 (54) %
Net Profit after
Tax 167 154 9 % (95) NM (130) 91 NM
Exceptional item1 (176) - NM (41) NM (196) - NM
Net Profit after
Tax after
Exceptional Item (9) 154 NM (136) NM (326) 91 NM
1. During the quarter, the management has recognized an impairment loss of
Rs. 176Cr in relation to intangible assets under development. Based on a
reassessment incorporating changes in market conditions and updated
commercial viability estimates, management concluded that the probable
future economic benefits from the asset are no longer expected to be
adequate to justify further capital deployment. Accordingly, the
carrying amount has been written down in full.
Consolidated Balance Sheet
(in Cr.)
Key Balance Sheet Items As at
31-Mar-26 31-Mar-25
Total Equity 8,162 8,125
Net Debt 4,140 4,199
Total 12,302 12,324
Net Fixed Assets 9,784 9,110
Tangible Assets 4,843 4,534
Intangible Assets including goodwill 3,841 3,599
CWIP (including IAUD2) 1,100 977
Net Working Capital 2,057 2,798
Other Assets3 462 416
Total Assets 12,302 12,324
2. IAUD -- Intangible Assets Under Development; 3. Other Assets include Investments and Deferred Tax Assets (Net)
Earnings Conference Call
Piramal Pharma Limited will be hosting a conference call for investors / analysts on 29(th) April 2026 from 9:30 AM to 10:15 AM (IST) to discuss its Q4 and full-year FY26 Results.
(MORE TO FOLLOW) Dow Jones Newswires
April 28, 2026 15:41 ET (19:41 GMT)
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