Piramal Pharma Ltd(PPLPHARMA)

NSE: PPLPHARMABSE: 543635

₹ 193.7+1.49%refreshed 26 Oct, 12:42 pm ISTMarket cap: ₹ 25,788 crNext results: 27 Oct 2026Website: www.piramalpharma.comUpdated: 24 Oct 2026

About

Piramal Pharma is a global pharma, health and wellness company with three businesses: CDMO, complex hospital generics and consumer health and wellness. It runs a worldwide network of 17 manufacturing and development facilities, has a workforce of over 7,000 people and reported revenue of Rs 8,869.08 Cr in FY26. It is the fourth-largest inhalation anesthesia company in the world by US$ value, and its brand Gablofen ranks #1 in the US intrathecal baclofen pre-filled syringe and vial market.^[1][2]

Business segments

CDMO contributed ₹1,187 Cr in Q1 FY27 (+19% YoY), the largest segment; provides contract development and manufacturing services to innovator and generic pharma customers globally.^[3]
Complex Hospital Generics contributed ₹743 Cr in Q1 FY27 (+17% YoY); supplies inhalation anaesthetics, intrathecal therapies and injectable pain management products, mainly in the US.^[3]
Consumer Healthcare contributed ₹347 Cr in Q1 FY27 (+15% YoY); markets branded OTC and personal care products in India.^[3]
CDMO revenue split was ~52% India and ~48% overseas in Q1 FY27; overseas gross margin range is 75% - 85% vs 55% - 65% for India.^[3]

CDMO pipeline and portfolio

The CDMO pipeline had 157 molecules, 25 of them in Phase III, as of FY26.^[1]
The CDMO business commercially manufactures 16 on-patent molecules, which generated US$96 Million of revenue in FY2026, vs 18 molecules generating US$179 Mn in FY2025.^[1][4]
Innovation-related revenue was 47% of CDMO sales in FY26; differentiated offerings (ADC, HP API, sterile fill-finish) were 40% of CDMO revenue in FY26, up from 32% in FY24.^[5]
ADC revenue was ~US$64 Mn in FY26.^[5]
The FY26 annual report says Grangemouth is the world's first USFDA-approved commercial ADC CDMO site.^[1]
CDMO Net Promoter Score was ~60 in Q1 FY27, against a negative industry average in a third-party benchmark.^[3]

Hospital generics products and market positions

The company held a 48% US Sevoflurane value market share in Q1 FY27, ranked #1; ex-US expansion is being pursued via the Digwal (India) facility.^[3]
US intrathecal baclofen: #1 rank with ~75% value market share as of Q3 FY26, through the Gablofen brand.^[6][1]
Fentanyl ampoules hold the #1 position by US$ value in Japan, South Africa and Indonesia (FY26 annual report).^[1]
Inhalation anesthesia is vertically integrated: key starting material made at Dahej, API and drug products at Digwal (India) and Bethlehem (US).^[1]

Consumer Healthcare brands and distribution

Power Brands (Little's, Lacto Calamine, CIR, i-range) grew 23% YoY in Q1 FY27 and made up 53% of PCH sales.^[3]
E-commerce was 28% of PCH sales in Q1 FY27, growing 40% YoY; quick commerce is more than 40% of e-commerce sales.^[3]
Brand investment was ~12% of PCH sales in Q1 FY27.^[3]
Manufacturing and distribution partnership with Bayer for Saridon, Supradyn, Becozym and Benadon.^[1]
i-choose, a new master brand for women's intimate care, was launched in Q1 FY27.^[3]

Operations and reach

17 manufacturing and development facilities worldwide as of FY26, one through the minority investment in Yapan Bio; the CDMO business has 15 across India, the UK/Europe and North America.^[1]
Exports made up 72.78% of standalone turnover in FY26.^[1]
Yapan Bio is a 33.33% associate giving capabilities in biologics, biotherapeutics and vaccines.^[1]

Regulatory and quality track record

Zero OAI status maintained across all sites as of Q1 FY27; EIR received for Sellersville in Q1 FY27.^[3]
38 regulatory inspections closed in FY26, including 3 USFDA inspections; customer site audits reached 209 in FY26 vs 165 in FY25.^[5]

Expansion and capex

US$90 Mn investment: Lexington sterile injectable capacity to go from 104 to 240+ batches per year (new filling line, two commercial lyophilizers); completion targeted by end of CY2027.^[3]
Riverview (US) commercial-scale payload-linker suite was inaugurated in Q1 FY27 under the ADCelerate programme.^[3]
Gross investment of £45 Mn to expand Grangemouth ADC capacity by ~70-80% (FY25 annual report).^[4]
FY27 capex guidance is USD 120 - 135 Mn, with ~USD 21 Mn spent in Q1 FY27; total US capital investment exceeds US$200 Mn.^[5]
In August 2025, a dedicated oral solid dosage suite for NewAmsterdam Pharma opened at Sellersville, Pennsylvania.^[1][7]

Recent developments

April 2026: acquired Kenalog from Bristol-Myers Squibb for US$35 Million upfront plus up to US$65 Million in milestones; the brand is marketed in 15+ countries.^[1]
Kenalog supplies to customers were expected to begin from Q2 FY27 as integration progressed.^[3]
Q1 FY27: manufacturing and supply agreement signed with Botanix for development and commercial supply of Sofdra.^[3]
Management targets a CDMO EBITDA margin of ~25% by FY30, citing operating leverage from overseas facility scale-up (Q1 FY27 call).^[3]

Market Cap

₹25,788 Cr

High / Low

₹232 / 133

Stock P/E

-80.9

Price / Book

3.1

Book Value

₹61

EPS

₹-2.5

No. of Shares

132.92 Cr

ROCE

2.7%

ROE

-4.0%

OPM

3.3%

Debt / Equity

0.67

Sales

₹8,869 Cr

Net Profit

₹-326 Cr

Promoter holding

34.8%

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