NSE: PPLPHARMA · BSE: 543635 · ISIN INE0DK501011
Piramal Pharma Limited stock analysis
Piramal Pharma Limited ranks #3105 in the TickerSutra evidence-ranked universe with a score of 42/100 and 87% data confidence. The latest captured fundamentals show ROCE of 2.5%, quarterly sales growth of 17.4% and quarterly profit growth of 25.8%.Avoid / exit review
INVESTMENT EVIDENCE
What supports—and challenges—the thesis
Evidence in favour
- Strong CFO/EBITDA of 1.79×
- CWIP indicates an active capacity pipeline
- No promoter shares are reported as pledged
Risks and constraints
- Debt/equity is above 0.5×
- Operating margin has compressed materially
Still unresolved: Related-party exposure · Broad media sentiment
FINANCIAL TRAJECTORY
Recent operating history
| Period | Revenue | Operating profit | Net profit | Operating margin |
|---|---|---|---|---|
| 2022 | ₹6,559cr | ₹950cr | ₹376cr | 14.0% |
| 2023 | ₹7,082cr | ₹629cr | ₹-186cr | 9.0% |
| 2024 | ₹8,171cr | ₹1,197cr | ₹18cr | 15.0% |
| 2025 | ₹9,151cr | ₹1,445cr | ₹91cr | 16.0% |
| 2026 | ₹8,869cr | ₹922cr | ₹-326cr | 10.0% |
| TTM | ₹9,205cr | ₹1,010cr | ₹-314cr | 11.0% |
EXCHANGE EVENT TRIGGERS
Latest corporate disclosures
Piramal Pharma Limited has informed the Exchange regarding the Trading Window closure pursuant to SEBI (Prohibition of Insider Trading) Regulations, 2015
RoutinePiramal Pharma Ltd - 543635 - Disclosure Under Regulation 30 Of Securities And Exchange Board Of India (Listing Obligations And Disclosure Requirements) Regulations, 2015BSE · 29 Sept 2026Please refer attachment.
RoutinePendency of Litigation(s)/dispute(s) or the outcome impacting the CompanyNSE · 29 Sept 2026Disclosure under Regulation 30 of Securities and Exchange Board of India(Listing Obligations and Disclosure Requirements) Regulations, 2015
RoutineGeneral UpdatesNSE · 19 Sept 2026Disclosure under Regulation 30 of Securities and Exchange Board of India(Listing Obligations and Disclosure Requirements) Regulations, 2015 ESG Rating
RoutinePiramal Pharma Ltd - 543635 - Disclosure Under Regulation 30 Of Securities And Exchange Board Of India (Listing Obligations And Disclosure Requirements) Regulations, 2015 - ESG Rating -Niche Ninety Nine Capability And Certifications (OPC) Private LimitedBSE · 19 Sept 2026Please refer attached file
MANAGEMENT COMMENTARY
Signals from filed documents
Demand for ADCs at our Grangemouth site and the continued focus on onshoring in North America, especially for drug product, drove stronger order and RFP inflows. Given the superior gross margins at these facilities, this momentum provides a strong foundation for EBITDA margin expansion going forward. We also strengthened our commercial teams and undertook restructuring to align with evolving demand patterns and chang
These recognitions further reinforce our commitment to responsible growth and long term value creation for all stakeholders. Looking Ahead We remain confident in the long term growth prospects of our businesses and continue to support them through timely investments in capacities and capabilities. We are witnessing a steady recovery in our CDMO business, reflected in increased RFP activity and order inflows, particul
Disruptions at these critical manufacturing sites may have a material impact on order execution, which in turn may have an adverse impact on our financial performance. Client concentration: We maintain certain high-value contracts with large customers. Any loss of business or adverse developments involving these customers could materially impact our financial performance.
Digital channels were significant growth drivers, with e-commerce expanding 48% and accounting for 27% of PCH revenue, supported by a three year CAGR of 34%. E-commerce profitability improved through better price realisation, mix optimisation and efficient digital investments. The quick commerce channel also gained traction, particularly in impulse led OTC categories.
Demand for differentiated capabilities—ADC, HPAPI, sterile fill-finish, and onshore drug substance—remains high. To capture this, we have invested US$90 Million in capacity expansion of sterile injectables and payload linker capabilities at Lexington and Riverview sites respectively, with Riverview completed and Lexington on track for end-2027 completion. During the year our execution improved meaningfully, with stro
Diversified Portfolio in Large, Fast Growing Consumer Health Categories Our power brands—including Little’s, Lacto Calamine, i-range, CIR, Tetmosol and Polycrol—continue to gain strong prominence within their respective categories. Strategic investments in brand building, media promotions, a broad distribution network and differentiated product offerings are driving sales. Our leading OTX brands with rich heritage li
We remain confident in India’s consumption story and expect continued growth momentum, supported by strong power brands, omnichannel expansion, brand investments and regular product innovation. Operating leverage, coupled with an optimised product and channel mix, will further enhance profitability. Tech Enablement and Analytics FY2026 Performance and Future Outlook Corporate Overview Performance Overview Statutory R
We are committed to environmental preservation and the conservation of natural resources, supported by established Environment, Health, and Safety (EHS) practices. Any non-adherence to these standards could expose the Company to regulatory, operational, or reputational risks. Frequent machinery breakdowns, ageing sites / equipment, and inadequate maintenance procedures could potentially result in production losses an
We have further expanded capacity at Dahej and commissioned new Sevoflurane production lines at Digwal, strengthening our penetration in Rest of World (RoW) markets. Supplies from Digwal have already commenced, although market ramp-up has been gradual due to regulatory approval timelines in certain geographies. We believe that these investments position us for sustained global expansion.
Corporate Overview Performance Overview Statutory Reports Financial Statements Management Discussion and Analysis 47 Advancing Sustainability at Piramal Annual Report 2025-26 Piramal Pharma Limited46 Industry Overview CDMO Business The pharmaceutical industry is marked by significant structural challenges, including high capital investment required for manufacturing infrastructure, specialised R&D expertise to develo
tablets, capsules) Semi-Solids (e.g. vials, ampoules, pre-filled syringe) PhaseDosage Form Geographic Expansion leveraging low cost labour, specific capabilities and market access Expansion along the Value Chain CDMO Value Chain and Growth Paths Corporate Overview Performance Overview Statutory Reports Financial Statements Management Discussion and Analysis 49 Advancing Sustainability at Piramal Annual Report 2025-26
They are also available on the website of the Company. Press Releases and Presentation to Institutional Investors and Analysts: The Company periodically meets with investors and analysts including holding quarterly/ half-yearly/ annual earnings calls where the Company’s performance is discussed. Further no Unpublished Price Sensitive Information is discussed in meetings / presentations with institutional investors an
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Evidence, freshness and limitations
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The score ranks captured evidence across financial quality, growth, moat and margins, regulatory catalysts, governance, institutional trend and valuation comfort. It is a research-prioritization tool—not a buy recommendation or price target.
Which sources support this page?
Financial history, ownership and pledge data, NSE and BSE filings, annual reports and available earnings-call transcripts are combined here. Use the source trail and original exchange document before relying on a decision-critical fact.
Why can an item be unresolved?
Unresolved means the current captured source window did not provide enough evidence for that check. It does not establish that a risk or relationship is absent.
Maintained by TickerSutra Research · Snapshot updated 29 Sept 2026 · Read the methodology · Read the disclaimer
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